Beginner miner need advice please - page 2.

Amph

legendary

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Merit: 1070

Quote from: Bitcoin@Majin on April 13, 2015, 12:46:06 PM

If I had the money I would like to set up a solar panel rig.

solar pannels need a very long time to roi, they need maintanance too and they have cost, they aren't free like many think

Quote from: philipma1957 on April 13, 2015, 01:26:07 PM

Quote from: Bitcoin@Majin on April 13, 2015, 09:55:06 AM

I wanted to know if investing in cloud mining at about 15th would be profitable in a year's time? or if not what hardware could I use as far as efficiency with lots of hashing power to start mining i'm estimating using maybe $6,500 if I were to buy hardware or go with cloud mining. Thanks for reading and all replies are welcome.

You can buy from this guy in China. buy 1 to start

https://bitcointalksearch.org/topic/lee-group1980-the-sales-of-first-batch-hosted-antminer-s7psu-included-934581

https://bitcointalksearch.org/topic/m.10789950

that's interisting, since i'm interested as well at some cloud mining with a relatively big investement

philipma1957

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'The right to privacy matters'

Quote from: Bitcoin@Majin on April 13, 2015, 09:55:06 AM

I wanted to know if investing in cloud mining at about 15th would be profitable in a year's time? or if not what hardware could I use as far as efficiency with lots of hashing power to start mining i'm estimating using maybe $6,500 if I were to buy hardware or go with cloud mining. Thanks for reading and all replies are welcome.

You can buy from this guy in China. buy 1 to start

https://bitcointalksearch.org/topic/lee-group1980-the-sales-of-first-batch-hosted-antminer-s7psu-included-934581

he has been pretty honest guy for more then 1 year (1 year is very long in the world of crypto-coins)

at the end of the thread there are a few selling the gear.

https://bitcointalksearch.org/topic/m.11043565

I had 4 and sold them off.

https://bitcointalksearch.org/topic/m.10789950

Bitcoin@Majin

newbie

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Well I got ASIC Block Erupter just to start off and work my way up.

notlist3d

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Quote from: Bitcoin@Majin on April 13, 2015, 12:46:06 PM

If I had the money I would like to set up a solar panel rig.

The thing is cheap electricity beats solar. To pay off solar is going to take a while. It's not a short time period ROI item.

So as far as mining your better off with cheap electricity, unless you are really really long term.

Bitcoin@Majin

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If I had the money I would like to set up a solar panel rig.

jonnybravo0311

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Mine at Jonny's Pool

Spondoolies partners with Genesis Mining, so there's at least known hardware there. Their prices are a bit higher than others, though.
HashNest/Umisoo are Bitmain. Like SP-Tech, you know there's actual hardware behind the cloud.

Purchasing your own hardware and having it hosted in a professional datacenter is an option as well. You buy the hardware and have it shipped to the datacenter. They usually charge you based upon a rate of electricity consumption (i.e. something like $90/kWh/month - I made that number up, each provider has their own rates).

Do some looking around and see what appeals to you the most. As has been mentioned, be very careful with cloud mining operations that seem too good to be true, because chances are exceptionally good that they are

.

Bitcoin@Majin

newbie

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I understand the risk and the possibilities but due to me being busy at work it would be harder for me to maintain the hardware causing me to lose out money if something goes wrong and has anyone heard of Genesis Mining?

notlist3d

legendary

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Quote from: Bitcoin@Majin on April 13, 2015, 10:55:11 AM

Ok this is very useful and I just might go with cloud mining considering electric cost/maintenance. how much hash power would be needed to start out? since I would like to take the advice of starting low.

Cloud mining is risky. Only one I have done is hashnest (just a small amount). Be very careful with cloud mining as a lot are ponzi, or just shutdown one day and run with money.

I could be jaded but I personally like hardware and get it hosted compared to cloud option.

Bitcoin@Majin

newbie

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Ok this is very useful and I just might go with cloud mining considering electric cost/maintenance. how much hash power would be needed to start out? since I would like to take the advice of starting low.

notlist3d

legendary

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I personally like to by hardware, but summer is coming so you need to be prepared for heat. What is your electricity price? We can tell a lot with this.

Also my advice on buying or mining, is start slow and build up. Don't throw all your money at once to one thing.

Amph

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with cloud mining roi is 5 months, best one are now bit-x and hashnest because you can resell your power(don't know about hashnest), the only problem is that there is no enough volume for 6500 to be invested

with physical HW you need to buy s5 antimer, the on the market right now, or wait for the new model with a 1.45 more in efficiency(s6 and s7)

their are both equivalent, the main difference is the electricity cost for physical HW and its maintenance

Bitcoin@Majin

newbie

Activity: 7

Merit: 0

I wanted to know if investing in cloud mining at about 15th would be profitable in a year's time? or if not what hardware could I use as far as efficiency with lots of hashing power to start mining i'm estimating using maybe $6,500 if I were to buy hardware or go with cloud mining. Thanks for reading and all replies are welcome.

Topic: Beginner miner need advice please - page 2. (Read 1817 times)