Looking to get into mining

[starbuckz]

Any suggestions as to what brand of miners are most cost effective for a first time miner?

[Gator-hex]

Bitmain Antminer S1

[sudoku]

Depends on your budget.

[jmevz]

I'm selling my S1, if anyone is interested. Please PM.

Thread: https://bitcointalk.org/index.php?topic=524543.msg5816578#msg5816578

Thanks,
PS: Can ship tomorrow morning if keen and paid.

[dubouis]

most effective for a first time will be stop thinking about start mining!

[vnvizow]

Get a GPU rig and mine other coins, you can always exchange them for BTC later because directly mining BTC is not profitable anymore

[tkbx]

Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU!

[sanjoea]

Expensive part is electricity. calculate before start mining

[RileyN]

Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU!

This. Banking on Bitcoin mining is a bad idea nowdays. Too much pain, not enough profit New (or relatively new) altcoins is the way to go atm.

[Shogen]

It is very very difficulty to get profits in bitcoin mining now.
Please spend a few minutes checking a mining profit calculator before buying anything.

[Bonam]

The days of easily mining useful amounts of bitcoin with readily available computer hardware are, sadly, behind us.

You could look into some altcoins and mining those, but a better approach would be to offer some product or service for sale for bitcoins and make BTC that way. Not only will you be able to actually get some reasonable amount of bitcoins, but it helps the entire bitcoin economy to have more real commerce happening in it.

[BitcoinValue]

It is very very difficulty to get profits in bitcoin mining now.
Please spend a few minutes checking a mining profit calculator before buying anything.

[techgeek]

Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU!

Listen to this guy, very smart thing to do.

Invest small and probably now upgrading that gpu to some other stuff to build a better alt rig.

Also chose a good ALT coin, since the algorithm of that coin is different then all the other ones.

[precrime3]

So you guys think it is better to buy a gpu rig vs buying some antminers? I was thinking of getting some antiners and then buy some USB scrypt asics.

[techgeek]

So you guys think it is better to buy a gpu rig vs buying some antminers? I was thinking of getting some antiners and then buy some USB scrypt asics.

I mean if you can find a good price, then you`ll be okay. But, instead of risking that play smart and focus on alt coins.

But most people on this forum over price a lot of things, so dont expect much.

[precrime3]

There at .988 directly from bitmain.... Thats around 570 ish per, plus +150 for psu. 3 antminers pull in $40 dollars daily, vs. a gpu rig of 3 mh/s pulling in $12

[jeppe]

as the ones before stated antminer s1 is the best miner out there atm, very very fast shipping that will get you up and running immediately!!
 

[InCoinsITrust]

antminers is the most effective.

[hunter001]

antminers are the best, but dont buy now, you wont have any ROI...

[precrime3]

It seems like buying a script asic or a rig is probably best. Fibo offering 3.46 mh/s or $346, which is a steal at .10 kh/s.