is it worth investing in asic miner?

[Degolep]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

[byt411]

If you can get the asic miner before others do, then go for it.
If you can't, it will be very difficult for you to even break even.
Go for scrypt, although most altcoins are under ltc now...

[Degolep]

Well i could probobly get it sometime next week. Ive already got a 3gh/s scrypt miner

[cloverme]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

Never heard of maza, seems like there is a new coin every minute. You would probably make more mining with it than renting it out.  There are lots of people having issue with the rental sites, so downtime may cost you in the long run. Plus you run the risk of someone making off with your rental fees, so be careful.

[Jayjay04]

If you go for scrypt you should try this cloud mining service.
Instant delivery and payment in bitcoins, so no trading to do.

http://scrypt.cc?ref=baars

[minereu.com]

SHA256 ASIC miner, late to play this game.
Scrypt CPU/GPU miner, difficult to make good return.
Scrypt ASIC miner, can still make decent return.

[differential350]

cloud seems to work better

[futurescoin]

Antminer might not be worth the money. Maybe for altcoins though!

[0150r]

SHA256 ASIC miner, late to play this game.
Scrypt CPU/GPU miner, difficult to make good return.
Scrypt ASIC miner, can still make decent return.

The Scrypt ASIC's I've seen cost more per KHash/s than GPU's. The trade off, I guess, is power/heat.

[vnhyp0]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

I think that an S1 is a wise choice if you do plan to invest in an ASIC, as they are reliable and seem to run well even in warm ambient environments, further, the difficulty increases have been relatively low, and the upcoming change looks to be about 12% only. You could mine with it for a month or two and resell it, with a good chance of making a profit after combining the mining revenue with resell revenue.

You could also rent it out for short contracts once you get it to help alleviate some of the costs and increase your relative profit margin significantly in some cases.

There are some good profitability calculating sites that will tell you the most profitable coin to mine. Here are a few:

http://www.coinchoose.com/
http://www.coinwarz.com/cryptocurrency
http://dustcoin.com/
http://www.wheretomine.com/

Good Luck!

[DustyRah]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

Do a profit simulator at https://coinplorer.com/Hardware/Simulate and you will see that its not profitable and you will lose money on it.

There is almost no way to make money on mining these days the way difficulty is rising exponentially and hardware manufacturers are bending over consumers and shafting them one.

[cloverme]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

Do a profit simulator at https://coinplorer.com/Hardware/Simulate and you will see that its not profitable and you will lose money on it.

There is almost no way to make money on mining these days the way difficulty is rising exponentially and hardware manufacturers are bending over consumers and shafting them one.

Holy smokes, that simulator is way, way off... I plugged in my real world numbers and none of the returns are correct.

Try using this one: http://www.bitcoinx.com/profit/ it's at least in the ballpark.

[DustyRah]

So i'm thinking of getting a AntMiner S1 since the price is curently really affordable but the question is is it worth it in long term?

I'm thinking of 2 plans if its worth it:

1. Mining alt-SHA265 since the maza coin boom i've also rented a few rigs and got myself a few thousand maza coins in past few days. But the network HS has skyrocketed and soon it probobly won't be so profitable to mine maza coin anymore. Are there any other profitable sha256 coins to mine?

2. After buying my miner I would start renting it.

Or am I too late for any of this?

Do a profit simulator at https://coinplorer.com/Hardware/Simulate and you will see that its not profitable and you will lose money on it.

There is almost no way to make money on mining these days the way difficulty is rising exponentially and hardware manufacturers are bending over consumers and shafting them one.

Holy smokes, that simulator is way, way off... I plugged in my real world numbers and none of the returns are correct.

Try using this one: http://www.bitcoinx.com/profit/ it's at least in the ballpark.

The simulator I mentioned takes into account rising difficulty...not just what you will make today.

[cloverme]

Yup, I took that into account, it was still wonky. The date picker has a bug too, skips some dates when click the chevrons to up/down the date.  It's an interesting calculator, but it's just not accurate.  To each his own, we all have our favorite tools, no harm/no foul.

[vnhyp0]

[ You could mine with it for a month or two and resell it, with a good chance of making a profit after combining the mining revenue with resell revenue.

This is the part you forgot to put in your calculator. I do not think many people will consider just sitting on an ASIC that costs more money to run than it earns, and, being an ASIC, it is kinda application specific. Maybe some will keep all their old units for vanity, or recycle them, but I would bet most rational people decide that selling them at some point after mining with them is a wise choice, and usually the most profitable.

[minereu.com]

SHA256 ASIC miner, late to play this game.
Scrypt CPU/GPU miner, difficult to make good return.
Scrypt ASIC miner, can still make decent return.

The Scrypt ASIC's I've seen cost more per KHash/s than GPU's. The trade off, I guess, is power/heat.

1. Save on power, yes, for sure.
2. Maybe you have not checked this price: https://minereu.com/product/gridseed-miner/