Noob questions

[babilonian]

Hi Guys

Lately I've been seeing avalon 2 for sale on our local kijjiji.  They are claiming that it's 220-240GH/s and they are asking $3000 - 3500 for it. I don't know much about bitcoins and the speed of hashing needed now to regain the investment. 

So my question to you guys that are experienced is, would it be worth getting one or two of those now?  those are sold for canadian dollars and not taxes, straight cash.

mining calculators shows about 80 days to regain my investment.  Is this pretty accurate for those that are mining now?

And finally, anyone used those miners and what are your thoughts of them?

Thank you.

[1715451122]

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[1715451122]

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[dbell]

Hi Babilonian -

For last 2 months,  the best price on a new rig delivered to your door has been that Antminers from Sushi or directly from Bitmain.  See group buy page.  Last price was 1.45 BTC for a unit that you can overclock to 200 Ghash an they run faithfully.

https://bitcointalk.org/index.php?topic=448425.0

http://sushi-review.com/

Sushi is a proven seller and delivers the goods.

Even at these low BTC price of 1.45 BTC for 200 GHash, it is difficult to get an ROI but that is about as good as it gets right now.  Look for Sushi to return next round with even lower prices.  Perhaps 1.2 BTC or lower per unit.

You can pick up used equipment, but I would not buy it unless you can meet or beat the Antminer value. 

Exception is maybe if you can find someone willing to part with their newer technology KNC or Cointerra machine for a good price, since they are more power efficient.  But those rigs are going to be more expensive.

Happy Hashing

[DrG]

I agree with the above assessment.  Unless you have nearly free power it will take a lot longer than 80 days with 20% difficulty increases every 12 days - and that's for fiat ROI.  You will never get BTC ROI unless the miner was 1/2 retail or something.

[Chris_Sabian]

I agree with the above assessment.  Unless you have nearly free power it will take a lot longer than 80 days with 20% difficulty increases every 12 days - and that's for fiat ROI.  You will never get BTC ROI unless the miner was 1/2 retail or something.

I good site to check ROI is: http://thegenesisblock.com/mining/

[Sonny]

I agree with the above assessment.  Unless you have nearly free power it will take a lot longer than 80 days with 20% difficulty increases every 12 days - and that's for fiat ROI.  You will never get BTC ROI unless the miner was 1/2 retail or something.

I good site to check ROI is: http://thegenesisblock.com/mining/

I would prefer to use http://bitcoinwisdom.com/bitcoin/calculator
It allows you to estimate your revenue (and profit) every 2016 blocks; compared with a monthly figure in many other profit calculators

[tripwirearmpit]

I know a lot of people have pointed to the Antminers. Will they be able to mine alt coins as well? Also I'm wondering what the resell value is for one of these say maybe 6 months from now. If its a complete bust, I should be able to get a little back from ebay right?

[ChuckBuck]

I know a lot of people have pointed to the Antminers. Will they be able to mine alt coins as well? Also I'm wondering what the resell value is for one of these say maybe 6 months from now. If its a complete bust, I should be able to get a little back from ebay right?

You can always count on eBay!   

Antminers can mine Alt SHA-256 based coins as well:  PPC, Namecoin, Devcoin etc

http://dustcoin.com/mining

[kthejung]

In my opinion, mining for bitcoins this year is over.  however, I will keep my eye out for anything new because I like mining.  I have the chance to pre-order for a Black Arrow Prospero X-3 this Friday but I decided to just buy $6000 worth of bitcoins instead and let them inflate in value towards the end of this year.

[Chris_Sabian]

In my opinion, mining for bitcoins this year is over.  however, I will keep my eye out for anything new because I like mining.  I have the chance to pre-order for a Black Arrow Prospero X-3 this Friday but I decided to just buy $6000 worth of bitcoins instead and let them inflate in value towards the end of this year.

That was probably a good choice.  Bookmark this and come back a few months / year to see what would of happened if you did the opposite.