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Author Topic: recommend mining rig please  (Read 1224 times)
finalelement (OP)
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July 10, 2014, 06:52:08 PM
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So I got around 1400$ to spend, can some 1 pls recommend me some new n good mining hardware That would be worth it ?

I just want to invest the money so can get some good returns in near future.
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CanaryInTheMine
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July 10, 2014, 06:55:08 PM
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So I got around 1400$ to spend, can some 1 pls recommend me some new n good mining hardware That would be worth it ?

I just want to invest the money so can get some good returns in near future.
what's "worth it"?

how much of the 1400 are you willing to lose?
finalelement (OP)
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July 10, 2014, 07:07:28 PM
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common son put ur millionaire face on
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July 10, 2014, 07:27:30 PM
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Right now,  I think the S3 has the most bang for your buck.

Step 1.  Buy bitcoin with your cash (probably using coinbase, localbitcoins.com or somesuch)
Step 2. Buy 2 S3s directly from bitmain's site.
Step 3. Buy 2 750w cheap power supplies from minersource.com
....
Step 5:  Profit?  (The ? is very intentional... do your ROI calculations:  https://bitcoinwisdom.com/bitcoin/calculator )
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July 10, 2014, 07:41:19 PM
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Do not buy mining hardware, especially sha-256 mining hardware.
Better invest in BTC directly and other mining hardware like gpu rigs, that can mine everything.
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July 10, 2014, 09:08:28 PM
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If you want to get into mining then you might want to be thinking not so much about what rig you should buy, but at what ceiling of hashrate can you run at your place. For some people it is a heat restriction based ceiling if they live in warmer areas and for others its price of power.

No matter what you start with, you are always going to have to double that up every couple of months or basically don't get into mining for purposes of making money.

If you have a basement that is very sound proofed, then save up and get yourself a Spondooley SP30, or else save a bit more and get 4 x Bitmain S3's. Any serious home miners need to come in at about 2 TH/s these days then aim to try to get to about 12 TH/s by XMAS or whatever that ceiling is at your space.

Many people will suggest you not get into mining. But bitcoin needs home miners in order for it to maintain its strength from centralised attacks. Some will tell you to buy BTC and hold. Most of those that do that are not doing so themselves but rather are gobbling up every new miner that comes out with every remaining bit of BTC in their wallets.

My suggestion is, rather than the do it or dont do it approach, is turn most of your mined BTC around to upgrade your rig once you get it up and running, but, also, put some into cold storage/paper wallets so that you are not killing yourself with shame in 2 years time if a miracle happens and BTC value skyrockets and you have nothing to show for your efforts other than a huge lump of mining equipment.

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July 11, 2014, 01:58:40 PM
 #7

So I got around 1400$ to spend, can some 1 pls recommend me some new n good mining hardware That would be worth it ?

I just want to invest the money so can get some good returns in near future.

Yes, a good advise is to buy BTC and not mining hardware...

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July 11, 2014, 08:23:33 PM
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If you want to get into mining then you might want to be thinking not so much about what rig you should buy, but at what ceiling of hashrate can you run at your place. For some people it is a heat restriction based ceiling if they live in warmer areas and for others its price of power.

No matter what you start with, you are always going to have to double that up every couple of months or basically don't get into mining for purposes of making money.

If you have a basement that is very sound proofed, then save up and get yourself a Spondooley SP30, or else save a bit more and get 4 x Bitmain S3's. Any serious home miners need to come in at about 2 TH/s these days then aim to try to get to about 12 TH/s by XMAS or whatever that ceiling is at your space.

Many people will suggest you not get into mining. But bitcoin needs home miners in order for it to maintain its strength from centralised attacks. Some will tell you to buy BTC and hold. Most of those that do that are not doing so themselves but rather are gobbling up every new miner that comes out with every remaining bit of BTC in their wallets.

My suggestion is, rather than the do it or dont do it approach, is turn most of your mined BTC around to upgrade your rig once you get it up and running, but, also, put some into cold storage/paper wallets so that you are not killing yourself with shame in 2 years time if a miracle happens and BTC value skyrockets and you have nothing to show for your efforts other than a huge lump of mining equipment.
I agree, this is by far the best answer.

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