Beatoftheearth (OP)
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August 14, 2014, 05:50:27 AM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
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Omikifuse
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August 14, 2014, 07:20:03 AM |
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I recommend start slow, learn, and grab some cheap stuff while Bitcoin is cheap. Maybe a s1 to start?
Also take a look in the mining section of this forum, guess more likely to get answers.
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Beatoftheearth (OP)
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August 14, 2014, 09:08:08 AM |
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Thanks for your answer. For how much can i get ~ now used S1, S2, S3 miners ? Thanks.
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Coef
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August 14, 2014, 11:05:01 AM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
Welcome to bitcointalk. I would suggest you to buy some cheap bitcoin now, as the price now is at $510. It is not easy to get profit in bitcoin mining, so please make sure you have done some calculation before purchasing any products, and please don't invest more than you can lose. |
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g4143
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August 14, 2014, 11:14:13 AM |
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A good miner to get right now would be the Avalon Bitcoin Miner "THUNDER II".
It has 1TH in performance and uses ASIC.
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whitefly
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August 14, 2014, 11:16:51 AM |
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If I would start mining now, I won't choose bitcoins. Check some other cryptocurrencies. Bitcoin might not be profitable right now.
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Hash Master
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August 14, 2014, 12:06:06 PM |
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Invest in some Altcoins, Litecoin for example.  |
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lynn_402
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August 14, 2014, 01:50:17 PM |
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If I would start mining now, I won't choose bitcoins. Check some other cryptocurrencies. Bitcoin might not be profitable right now.
Altcoin mining is even more risky though. Scrypt's difficulty is increasing faster than Bitcoin's, which means the ASIC one could buy now may very well become obsolete in two months or less. |
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Vortex20000
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August 14, 2014, 01:58:16 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest. Invest in bitcoin cloud mining on cex.io. You earn about 20¢ a month per GH/s, each of which cost around $4. With $3500, that's 875 GH/s. After using them for a while, you can also resell. |
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lynn_402
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August 14, 2014, 02:22:25 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest. Invest in bitcoin cloud mining on cex.io. You earn about 20¢ a month per GH/s, each of which cost around $4. With $3500, that's 875 GH/s. After using them for a while, you can also resell. That's not a good idea. Cex is overpriced, buying gh/s on their site cost considerably more than if you bought your own machine. But the worst is how it encourages centralization of mining. Cex is affiliated with ghash.io, which is the largest Bitcoin pool and is a constant threat for 51% attacks. |
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DeboraMeeks
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August 14, 2014, 02:22:39 PM |
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Take a look at gaw miners (signature) they are great and recently bought the domain btc.com! |
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iluvpie60
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August 14, 2014, 06:12:48 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
Mining is only viable right now IF you expect the price of BTC to go up. For comparison, I sold a 10ghz miner back in Feb or march for 500 bucks or something like that, right now it is worth about 20 dollars or less. DO NOT BUY mining equipment. IT IS NEVER WORTH IT honestly. even buying mining shares makes you lose money, unless you only hold on to them for a short period then sell then wait for price to go down(which it does) then rebuy. |
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kodeon.CEO
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August 14, 2014, 06:33:41 PM |
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If you are investing anything small I would buy Bitcoin and hold from a financial standpoint. Small miners might make ROI if price goes up but you can still profit from a buy and hold model. Right now I think the small players are fighting a losing battle with difficulty, only the big players or early pre-orders that actually receive their equipment on time have mining power to make a significant impact.
If you are looking at it as a hobby to help the Bitcoin network and learn about how it works I would say go ahead and invest as it might be fun to be in the business.
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Chicowash
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August 14, 2014, 06:45:36 PM |
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It may be god to mine with s3 units, but consider to invest some part in btc directly.
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lynn_402
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August 14, 2014, 08:01:29 PM |
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If you are investing anything small I would buy Bitcoin and hold from a financial standpoint. Small miners might make ROI if price goes up but you can still profit from a buy and hold model. Right now I think the small players are fighting a losing battle with difficulty, only the big players or early pre-orders that actually receive their equipment on time have mining power to make a significant impact.
If you are looking at it as a hobby to help the Bitcoin network and learn about how it works I would say go ahead and invest as it might be fun to be in the business.
That's right. Because big mining farms can do orders 100x bigger than those of small users, they can get their equipment at ridiculously lower price. Even more so if it's the ASIC manufacturer mining with their own equipment, like KNC and many other do. This leaves virtually no margin of profit for small users. |
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DubFX
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August 14, 2014, 08:07:16 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
It isn't worth if you're talking about bitcoin as the prices go down atm and difficulty goes up anyway. On the other hand you may try mining altcoins but it's always an gamble. |
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lynn_402
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August 14, 2014, 08:17:10 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
It isn't worth if you're talking about bitcoin as the prices go down atm and difficulty goes up anyway. On the other hand you may try mining altcoins but it's always an gamble. The market price of mining equipment might go down though, because of the drop in price of Bitcoins and altcoins. So it might not be a bad time to start if buying with fiat. Then again, simply buying the coins would make more sense. |
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odolvlobo
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August 14, 2014, 08:19:18 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
Anybody that asks this question is wrong if they believe they will make money by mining. My suggestion is to keep your money or buy bitcoins directly. Just don't blow it on mining equipment. |
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pitgar
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August 14, 2014, 08:45:08 PM |
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I am new in this forum. What mining equipment would you suggest. I have about 3500$ to invest.
Buy BTC for that and wait  |
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Brewins
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August 14, 2014, 09:53:30 PM |
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If one plans to start mining, I think we are getting closer to the perfect point to do that. Since price is decreasing, so the miners price are, and they will keep mining when the price recovers.
On the other hand, if you believe price is going up anyway, might be a better idea just buy bitcoin and take profit in the future, then think again if you want to buy mining stuff.
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