$350 bitcoin mining rig is it worth it

BTCmaster3

newbie

Activity: 59

Merit: 0

Quote from: ChuckBuck on August 26, 2014, 03:54:23 PM

Have your parents sign up for a Coinbase account, and buy $350 worth of Bitcoins, which is about 0.68 BTC.

Sit on this for awhile. Stick around Bitcointalk for awhile, and stay active in the forums. Once you're Jr or Member status, join a sig campaign, and keep posting to earn more BTC. Keep on grinding and keep on banking coins. Don't ever spend it.

Whatever you do, do not start mining. $350 will never get you close to ROI on any equipment you buy.

Great advise, also don't forget to secure your wallet..

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Have your parents sign up for a Coinbase account, and buy $350 worth of Bitcoins, which is about 0.68 BTC.

Sit on this for awhile. Stick around Bitcointalk for awhile, and stay active in the forums. Once you're Jr or Member status, join a sig campaign, and keep posting to earn more BTC. Keep on grinding and keep on banking coins. Don't ever spend it.

Whatever you do, do not start mining. $350 will never get you close to ROI on any equipment you buy.

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: MightyBTC on August 26, 2014, 11:42:30 AM

He wants to make some real profit mining why not suggest him how could he mine to make profit rather than suggesting him to directly buy off the exchanges.

Because he's not going to make some "real" profit off a $350 budget. Well, I guess he might make $100 after months of mining at his parents expense.

Go read any manufacturers thread and see the page after page of debate surrounding the concept of reaching a positive ROI. I've been a miner since late 2011 and I'm not buying any more HW, why? Because the risk vs. reward ratio is less than favorable.

The only option available is to use the computer he already owns to mine shitcoins, and why would I recommend he try to wiggle his way into profits there when this is the Bitcoin mining forum?

MightyBTC

member

Activity: 87

Merit: 10

Quote from: dropt on August 25, 2014, 01:53:21 PM

Don't mine BTC with your video card.

Don't buy $350 worth of miners.

Don't buy Cloud Mining.

Do buy BTC on the exchange (or local bitcoins) if you really would like to own some.

He wants to make some real profit mining why not suggest him how could he mine to make profit rather than suggesting him to directly buy off the exchanges.

HashFarmer

member

Activity: 98

Merit: 10

Quote from: llama777 on August 25, 2014, 01:44:26 PM

Hi im a 13 year old kid and I have been following the bitching for about 4 moths now and I would like to start mining but im not shure if its worth it. I just order a new pc with a r9 280 but I was planning on gaming not bitcoin mining with it would this be a good idea or should I spend $350 on a mining rig with abot seven block eruptors and a raspberry pi or should I sped it on a cloud miner or just go to the stock market or buy some bitcoins and wait for the price to go up

If you are buying R9 280 for mining, you should mine other algo like scrypt, x11 and x13 for higher profitable. But still its unprofitable right now as alt price has dropped a lot..

Meech

hero member

Activity: 924

Merit: 1000

The chance to get into Mining for profit with little cash is past. But if you are interested in just learning and having a rewarding hobby, I say go for it. But the fun in it is spending as little as possible and generating btc and watching something grow. Btc is far bigger than most know or care to believe in. It will see its day when none of us can afford to buy it anymore and we wished we had some. For a 13 year old I'd say either buy some or acquire a low cost miner just for fun. Like Microsoft shares, "I wish I would have bought some", when I was your age. Just please don't spend all your money. For your B-day or X-mas ask your parents ( I mean Santa) for some btc instead.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: lowbander80 on August 25, 2014, 02:37:30 PM

1) if you are 13 first you ask your parents for electricity its much and its 24 hours a day if you mine
2) try mining with your card does not have to make profit
3) mine with what you have dont spent money until you understand whats all about
4) talk to your parents when you need to spent more money

my son is 13 and he plays GTA now that its summer vacation,
wish he wanted to by a miner and could tell the difference between sha256 and scrypt

on second thoughts how old am I Huh

and want to buy one more miner???

I did not even know what GTA was, had to look. My son played WoW all summer as well-I talked to him about mining-no interest.
How old am I? LOL

lowbander80

legendary

Activity: 1036

Merit: 1000

1) if you are 13 first you ask your parents for electricity its much and its 24 hours a day if you mine
2) try mining with your card does not have to make profit
3) mine with what you have dont spent money until you understand whats all about
4) talk to your parents when you need to spent more money

my son is 13 and he plays GTA now that its summer vacation,
wish he wanted to by a miner and could tell the difference between sha256 and scrypt

on second thoughts how old am I Huh

and want to buy one more miner???

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: llama777 on August 25, 2014, 01:44:26 PM

Hi im a 13 year old kid and I have been following the bitching for about 4 moths now and I would like to start mining but im not shure if its worth it. I just order a new pc with a r9 280 but I was planning on gaming not bitcoin mining with it would this be a good idea or should I spend $350 on a mining rig with abot seven block eruptors and a raspberry pi or should I sped it on a cloud miner or just go to the stock market or buy some bitcoins and wait for the price to go up

it depends if you are into engineering aspect, financial or both.

You can buy used antminer S1 on ebay for $105-115. It is great to learn mining, but it produces little right now as far as value is concerned, but you probably will produce ~0.25BTC (~$125) in three-four months, but use the same $$ amount of electricity. Of course, your folks will pay for that electricity since you are a kid.
Or, you can buy antimner s3 (on ebay again), since bitmain only sells directly 2 at the time, ~$292 ea at todays rates.
Or, you can buy S1 to learn/play and buy 0.5BTC(~$252 on exchange), but your mom/dad will have to make an account (coinbase in US) to do so-too much hassle, in my opinion, but if you REALLY want this, you'll have to persevere

railzand

sr. member

Activity: 462

Merit: 250

Lux e tenebris

Quote from: llama777 on August 25, 2014, 01:44:26 PM

Hi im a 13 year old kid and I have been following the bitching for about 4 moths now and I would like to start mining but im not shure if its worth it. I just order a new pc with a r9 280 but I was planning on gaming not bitcoin mining with it would this be a good idea or should I spend $350 on a mining rig with abot seven block eruptors and a raspberry pi or should I sped it on a cloud miner or just go to the stock market or buy some bitcoins and wait for the price to go up

... following the bitching ... We don't bitch here - much. Or uneducated predictive text.

dropt's advice is spot on.

dropt

legendary

Activity: 1512

Merit: 1000

Don't mine BTC with your video card.

Don't buy $350 worth of miners.

Don't buy Cloud Mining.

Do buy BTC on the exchange (or local bitcoins) if you really would like to own some.

llama777

newbie

Activity: 1

Merit: 0

Hi im a 13 year old kid and I have been following the bitching for about 4 moths now and I would like to start mining but im not shure if its worth it. I just order a new pc with a r9 280 but I was planning on gaming not bitcoin mining with it would this be a good idea or should I spend $350 on a mining rig with abot seven block eruptors and a raspberry pi or should I sped it on a cloud miner or just go to the stock market or buy some bitcoins and wait for the price to go up

Topic: $350 bitcoin mining rig is it worth it (Read 7738 times)