Hi,
I am interested in mining, but I have noticed I would have to spend thousands to get a miner actually worth using for mining bitcoin. However I noticed that people mine alt currencies and this could be profitable if an alt currency rises to such a level like bitcoin. I have always posted in the gambling and currency exchange section and as I am not new to bitcoin per say, I am relatively new to mining.
My questions are this:
-Is there a miner that has a breakeven point of 3 months or less at the current difficulty that costs under $500 for an in hand unit?
No. I've looked into it and I keep my eye on the scene with my massive google spreadsheet. There currently isn't.
-Also, of these units are there any that are compatible with mining other currencies as this is what I would be mainly using it for, not mining bitcoin as the difficulty is so high.
All are capable of mining any double SHA256 based coin. Because that is what they do. Double SHA256
-Third, how hard honestly is it to mine and get it all set up for someone who does many investments but does not know much of installing or running commands on a terminal.
Depends on who you buy from (ASICs). That said, there are comprehensive guides for all this online and a lot of people willing to help, myself included.
-I saw those USB 330mh/s mining units that were just released which can be bought for roughly $125 each, would they be able to mine alt currencies at 330 mg/s too?
If SHA256, yes. There is no difference between the algorithm if the author of the alt coin didn't change it from bitcoin (litecoin uses scrypt, for example, which is completely different from SHA256)
-Finally, can I mine at a successful rate and the advertised rate on mining units using a Mac, I know Macs are horrible for hash rate so would this hurt the units effective mining rate? Sorry for all these questions.
Depends on optimization. Since the grunt of the work is done on the ASIC and only the communication is done on the machine, though, I would assume zero difference.
Regards,
-KingofSports
I am interested in mining, but I have noticed I would have to spend thousands to get a miner actually worth using for mining bitcoin. However I noticed that people mine alt currencies and this could be profitable if an alt currency rises to such a level like bitcoin. I have always posted in the gambling and currency exchange section and as I am not new to bitcoin per say, I am relatively new to mining.
My questions are this:
-Is there a miner that has a breakeven point of 3 months or less at the current difficulty that costs under $500 for an in hand unit?
No. I've looked into it and I keep my eye on the scene with my massive google spreadsheet. There currently isn't.
-Also, of these units are there any that are compatible with mining other currencies as this is what I would be mainly using it for, not mining bitcoin as the difficulty is so high.
All are capable of mining any double SHA256 based coin. Because that is what they do. Double SHA256
-Third, how hard honestly is it to mine and get it all set up for someone who does many investments but does not know much of installing or running commands on a terminal.
Depends on who you buy from (ASICs). That said, there are comprehensive guides for all this online and a lot of people willing to help, myself included.
-I saw those USB 330mh/s mining units that were just released which can be bought for roughly $125 each, would they be able to mine alt currencies at 330 mg/s too?
If SHA256, yes. There is no difference between the algorithm if the author of the alt coin didn't change it from bitcoin (litecoin uses scrypt, for example, which is completely different from SHA256)
-Finally, can I mine at a successful rate and the advertised rate on mining units using a Mac, I know Macs are horrible for hash rate so would this hurt the units effective mining rate? Sorry for all these questions.
Depends on optimization. Since the grunt of the work is done on the ASIC and only the communication is done on the machine, though, I would assume zero difference.
Regards,
-KingofSports
