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Topic: Advice for a newbie looking to buy a Miner? - page 2. (Read 239 times)

legendary
Activity: 3066
Merit: 1312
December 21, 2017, 11:42:47 PM
#5
BTC mining has become a specialized undertaking that it isnt advisable for newbs to invest their time and money on it anymore.

Its better to buy and hold BTC or mine an altcoin with a bright future. I suggest you look up Burst. It has a greener and more energy efficient mining algorithm called Proof of Capacity.

This, afaik these days many miners prefer to mine altcoins such as eth, ltc, or other coins which are more profitable than mining btc. I have a friend who is a new miner as well and he built his own miner hardware using vga, he is now mining eth. He said that he spent around $4500 and he can earn 1.x ETH per month. It means that he will get ROI after 5-6 months but I'm not really sure about the full specifications about his miner.
sr. member
Activity: 868
Merit: 259
December 21, 2017, 11:11:06 PM
#4
BTC mining has become a specialized undertaking that it isnt advisable for newbs to invest their time and money on it anymore.

Its better to buy and hold BTC or mine an altcoin with a bright future. I suggest you look up Burst. It has a greener and more energy efficient mining algorithm called Proof of Capacity.
newbie
Activity: 3
Merit: 0
December 21, 2017, 09:51:31 PM
#3
I keep checking bitmain but cannot seem to get on the list.   Undecided
full member
Activity: 378
Merit: 135
December 21, 2017, 08:40:38 PM
#2
Get on the waitlist from Bitmain or spend alot more from a reseller (that will not come with a warranty).  If you choose option 2 ensure you only buy through escrow as you will most likely be scammed if you do it otherwise.  Hope that helps.
newbie
Activity: 3
Merit: 0
December 21, 2017, 04:00:14 PM
#1
I have recently been looking to purchase a miner.  I started using the Bitcoin Miner software on my windows 10 computer to see how things worked.  Since my computer is extremely slow (300 KH/s), I have been looking at the r4 (for home) or a s9 (for work) to use.  I am not concerned about 220V because I can have it installed in my home.  My work already has 220V available.

I have been watching shop.bitmain.com for awhile but I do not see either units coming in stock.  So it appears my options are ebay, alibaba, google search, or message boards.  I have not been quick to jump in to buying one because of all the red flags.  (Super low price, brand new domain, etc.)

One thing I see happening is that sellers will only accept bitcoin/bitcoincash/eth.  Is this another red flag?  My concern about not using paypal is that I am unable to get money back if I am scammed.  Would a legitimate seller refuse paypal?  What are the other things to watch out for?

Thank you!
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