Brand new to mining

[MarketTime]

Cloud mining is good but do a lot of calculation before you buy it, it is hard to ROI..

[tripppn]

I think Bitmain's Watercooled C1 might be the best deal out there right now that I can think of.  1Th for 1 BTC should ROI.  It might take a little while but it should get it done.

Other then that I'm watching the Bitmain L1 looks promising at this point but a lot could change by the time it ships in Dec. 

If your going to buy hardware use a trusted manufacturer and stay away from pre orders.  FOR THE LOVE OF GOD!!!  STAY AWAY FROM PRE ORDERS!!!

Bitmain is prob the best supplier out there right now but because BTC is so low it makes it hard to ROI with much of anything.

[Pkofet]

You must already have a good material computer.

Not really. Your computer doesn't need to be powerful at all for mining with ASIC.

[Pkofet]

I think Bitmain's Watercooled C1 might be the best deal out there right now that I can think of.  1Th for 1 BTC should ROI.  It might take a little while but it should get it done.

What about the Prisma?
Using GB 1 or GB 2, you can get 1.4 - 1.48 TH/s with 1.47 btc and the power consumption is lower.

[klintay]

All mining is hard to ROI now. I seriously would stay well clear of bitcoin mining. That has been almost impossible to make money from for a very long time. Unless of course you have $10,000,000 usd like GAW and you build a huge mining data center in Mongolia. Can still do it for fun or to support the network.

But even when btc was $1200 usd it was hard because manufacturers put the price of hardware up when the ROI gets higher so you are still screwed. At one point you could invest X amount of money to get ahead of the curve and your hardware would be profitable for awhile. Then you would make about 20% profit on your investment and sell off the hardware as it became obsolete to make even more money. Those days for btc are well and truly gone. I would pick a good alt you like and think has a future and mine that. Preferably one that can be only done using GPU.

Bitmain do have the best deals though and they are reliable too...

[spidergoat]

With difficulty increase so fast, the real people profiting is those ASIC manufacturer and big companies with cheap electricity and big datacenters.

[klintay]

With difficulty increase so fast, the real people profiting is those ASIC manufacturer and big companies with cheap electricity and big datacenters.

Yep exactly. Lets do some very quick math here...

1 btc costs $370 usd right now from www.btc-e.com

1TH can mine about $5 usd a day. That means you will need to mine for 74 days to make $370 BUT this is assuming that you have FREE electricity AND that difficulty remains constant. As difficulty goes up every 8-10 days you will be having a diminishing return on your asset (the bitcoin miner). So the first two weeks you might make $4-5, the next two weeks $3.5-4 and so on...

[erre]

I've tried to mine scrypt one year ago, i've lost something like 2000 € on miners.... today, I guess the situation is worst.
You can ROI only if you have free/very cheap power

[Pkofet]

With difficulty increase so fast, the real people profiting is those ASIC manufacturer and big companies with cheap electricity and big datacenters.

Yep exactly. Lets do some very quick math here...

1 btc costs $370 usd right now from www.btc-e.com

1TH can mine about $5 usd a day. That means you will need to mine for 74 days to make $370 BUT this is assuming that you have FREE electricity AND that difficulty remains constant. As difficulty goes up every 8-10 days you will be having a diminishing return on your asset (the bitcoin miner). So the first two weeks you might make $4-5, the next two weeks $3.5-4 and so on...

The main point here is that every person have a different prediction on future difficulty.
If you predict the difficulty to go up 20% every 10 days, you will find no profitable miners and it is better for you to buy bitcoin directly.
If you predict the difficulty to go up 5% every 13 days, the situation is completely different.