Starting Mining (Suggestions please?)

[Baeshra]

I've only started recently researching bitcoin mining, and I'm looking for suggestions. I've run a few calculations, and from the rigs and ASICs I've seen available, I don't see anyway I could turn a profit. I feel like I must be missing something obvious here. Many ASIC sellers seem to be unreliable, and preorders make most new products very cost inefficient. I'm new to mining, I want to make a profit, and I'm willing to spend up to $1500 on starting hardware. Energy here is a mere $.081/kWh as well. I've been using http://www.bitcoinx.com/profit/ to take a look at some potential ASICs, but I just don't see where the profit is. It can be done, and I want to know how.

I've already done a deal of research on the topic, and understand the basics. What else can I do? I'm currently looking at the AntminerS1 for ~$320, what would that calculate to? Each of the sites I've checked for profitability give a vary wide variance.

I'm open to any suggestions. Should I go for it?

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[Baeshra]

More and more seems to be pointing towards Bitcoin mining no longer being a profitable endeavor for hobbyists. Especially with th/s ASICs coming out... How do you all make it work?

[xstr8guy]

You've come to the right place! My suggestion... find a different hobby.

[Radelderth]

Best suggestion is not to start mining.... buy coins directly..

[ChuckBuck]

First suggestion...use a better calculator!

https://bitcoinwisdom.com/bitcoin/calculator


https://tradeblock.com/mining/


Second suggestion...don't bother starting!  Home miner gone by the dodo.  You need several TH/s to even consider making a profit.

[fastaslighting]

I suggest you start mining new issues right out of the gate  you can still solo mine those and get a lot of coins by getting a lot of solo blocks mined and actually make a profit but you do have to wait till the coins hit an exchange that is worth it or unload them on a bad exchange if you have a nice lot of coins .

[FlyForFun]

I've only started recently researching bitcoin mining, and I'm looking for suggestions. I've run a few calculations, and from the rigs and ASICs I've seen available, I don't see anyway I could turn a profit. I feel like I must be missing something obvious here. Many ASIC sellers seem to be unreliable, and preorders make most new products very cost inefficient. I'm new to mining, I want to make a profit, and I'm willing to spend up to $1500 on starting hardware. Energy here is a mere $.081/kWh as well. I've been using http://www.bitcoinx.com/profit/ to take a look at some potential ASICs, but I just don't see where the profit is. It can be done, and I want to know how.

I've already done a deal of research on the topic, and understand the basics. What else can I do? I'm currently looking at the AntminerS1 for ~$320, what would that calculate to? Each of the sites I've checked for profitability give a vary wide variance.

I'm open to any suggestions. Should I go for it?

Just buy some usb miner and mine for fun, if you are looking for profit then none is profitable.

[DrG]

You're not missing anything. Most miners are running in the red.   Those that aren't probably know the hardware vendor. Buy a cheap miner and mine for fun.  If it's not fun, spend money on something else.

[OgNasty]

If you do start mining, support P2Pool.  Feel free to use our 0% fee node. 

Just point your miner at nastyfans.org:9332 and use your bitcoin address for your username.