Openions wanted

[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.

[Sonny]

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.

Which profit calculator are you using?

IMHO, you will never get your investment back with it (not even close at all even with free electricity), and I would not suggest you to buy it...
FYR: http://bitcoinwisdom.com/bitcoin/calculator

[cookiemonsterwhat]

You should negotiate the price the person is asking, because you`ll never get most of your  money back.

The only edge would be, if the btc price value rises as you mine.

[DannyHamilton]

The only edge would be, if the btc price value rises as you mine.

In which case you would have been better off just buying the bitcoins directly and selling them after the btc value rises instead of buying the equipment that will get you less bitcoins in order to sell them for less profit.

[odolvlobo]

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.  

A 220 GH/s miner will earn about 2.6 BTC before the rising difficulty makes it unprofitable. 2.6 BTC currently costs about $1800 CAD, so if you pay more than $1800 CAD to mine 2.6 BTC, you are throwing money away.

[MakeBelieve]

Mining is no longer profitable unless you have a high budget and can get hold of new tech when it is released and sell it just before the difficulty rises its a very risky market but can pay off in the 1000+

[RoyFour]

Mining is no longer profitable unless you have a high budget and can get hold of new tech when it is released and sell it just before the difficulty rises its a very risky market but can pay off in the 1000+

+1 To this. You need some serious hardware for profitable mining. If you just want to mine for the heck of it, I would suggest an altcoin that is less heavily mined (e.g., Feathercoin, FrankoCoin, (Insert Name Here)Coin, etc.). You could always exchange it for bitcoins later, however little that may be. Last time I checked, there were plenty out there!

I agree with directly buying (with USD or EUR, etc.). Its much easier, and could be highly profitable.

[Rawted]

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.

Be very careful about buying from places like those classified sites and overseas merchants like alibaba or aliexpress. Many of those merchants are fake, request BTC payment, and then switch shops. As others have stated, it will be more profitable to hold those coins. If, for some reason, you do decide to order something from one of those type sites, please use a protected payment such as paypal.

[babilonian]

Thank you guys for the info and advice.

What about the KNC Neptune?? It's being offered again for $10,000USD

Do you guys think it's worth getting now?  Will that make it's initial investment and then some more?

[hostmaster]

You should negotiate the price the person is asking, because you`ll never get most of your  money back.

The only edge would be, if the btc price value rises as you mine.

Agreed miners are BAD ROI!

[fighter]

Mining is no longer profitable unless you have a high budget and can get hold of new tech when it is released and sell it just before the difficulty rises its a very risky market but can pay off in the 1000+

What should you do then if you don't have a high budget?

[DannyHamilton]

What should you do then if you don't have a high budget?

I don't understand the question.

You can do anything you want (although you should be aware and willing to accept any consequences of any choices you make).

There isn't much in life that you should do.

In general, human beings need a certain amount of nutrition, water, and sleep to survive.  Therefore at a minimum, I'd suggest that what you should do is:

Eat food.
Drink water.
Sleep.

Beyond that, it's up to you.

[Rawted]

Thank you guys for the info and advice.

What about the KNC Neptune?? It's being offered again for $10,000USD

Do you guys think it's worth getting now?  Will that make it's initial investment and then some more?

I dont think any of the current generation of ASICs are profitable at this current time (if started now, with current diff/value).

[julestheminer]

Don't get it. The mining goldrush is only swelling the difficulty and there isn't enough block rewards to pay off everyone's investments. If you *really* want to mine, for whatever reason, join a cloudhasher and let someone else deal with the risks of owning a possibly-worthless-in-the-future $3000 machine.

If you have a few grand, there are better things to invest in.

[odolvlobo]

Thank you guys for the info and advice.
What about the KNC Neptune?? It's being offered again for $10,000USD
Do you guys think it's worth getting now?  Will that make it's initial investment and then some more?

I estimate that the Neptune will mine more than 30 BTC before it becomes unprofitable due to the rising difficulty, if you start mining now. If you can get it for 16 BTC, then it seems like a good idea. If you don't start mining for a month, you won't do nearly as well.

"Cloud" mining is a money-loser. People only suggest it to get you to click on their referral links.

[Sonny]

Mining is no longer profitable unless you have a high budget and can get hold of new tech when it is released and sell it just before the difficulty rises its a very risky market but can pay off in the 1000+

It is not profitable to do btc mining.
It is still profitable to build a GPU rig to mine scrypt-based coins.

[Sonny]

Thank you guys for the info and advice.
What about the KNC Neptune?? It's being offered again for $10,000USD
Do you guys think it's worth getting now?  Will that make it's initial investment and then some more?

I estimate that the Neptune will mine more than 30 BTC before it becomes unprofitable due to the rising difficulty, if you start mining now.

The problem is you never know when you will receive the miner...

[troy112]

Script is the word for the small miners unless they get the script asics to the market. then you can go for script-jane.
SHA coin have become the playground of big players, unless you get some big investment into it, it won't cut it.

[AndrewGucci]

Script is the word for the small miners unless they get the script asics to the market. then you can go for script-jane.
SHA coin have become the playground of big players, unless you get some big investment into it, it won't cut it.

This says it all.

[Sonny]

Script is the word for the small miners unless they get the script asics to the market. then you can go for script-jane.
SHA coin have become the playground of big players, unless you get some big investment into it, it won't cut it.

Indeed it is scrypt.....just saying.....