Topic: Hi!, me wanna try what is Bitcoin mining! (Read 1349 times)

If you are serious in bitcoin mining, go to bitcoin mining section.

welcome BTC-TMXSTAR
Some people don't consider the increases in difficulty when calculating ROI, be smart with this.

It can be profitable if your smart about it.  Mine BTC rarly.  Rent your rigs alot, and mine alts.  Other then that...  They are great for heating your house in winter.  It's been 20 - 30 at night here and my house is 75 thanks to my 6 S3s.  No heater needed.

i`d just go with cloud mining, just saying since electricity cost..

No problem!  Just so you're aware, I'm currently mining at a very small loss.  However, it's staring to get very cold where I live, so running my miners is actually indirectly profitable at the moment because the heat generated allows me to save money by not using my furnace as often, and the money saved per month is presently greater than the monthly loss from mining.  Also, the hardware has already paid for itself, so it's not like I recently purchased any mining equipment.  Given my current circumstances, mining makes sense.  

Thank you very much for taking the time to answer my questions. You've given me lots to think about. 

It doesn't matter how large the operation is, it simply matters how much you paid for the mining hardware, how much you mine, and how much you pay for electricity.  A small operation that is more cost-efficient than a large operation is, well, more cost-efficient (duh).   You could have a small mining farm run out of a house that requires no additional security, cooling, electrical wiring, etc. that relatively outperforms a large operation using the exact same mining hardware because the large operation has additional overhead costs such as rent for warehouse space, security, cooling, custom wiring, etc.

My guess is that most people mine because, while current difficulty and BTC price indicate mining isn't profitable now, it could be very profitable in the future if 1) a miner holds his mined BTC, and 2) BTC price increases.  It's interesting to note that the past two difficulty adjustments, as all as an upcoming third adjustment, have all been relatively minor compared to what we've seen in the past.  Because of this, there's also the small likelihood that a miner might end up with more BTC than he would have otherwise if he purchased BTC outright, but this requires the right set of conditions.

There are other considerations to take into account.  There's the possibility that, if the right set of conditions present themselves, you can actually profit from mining in a declining market (you can short BTC, but if the price goes up you're screwed) if the value of BTC mined + value of reselling hardware is greater than your purchase price.  Some also feel that the psychological aspect of mining seems less risky than buying outright since the mining hardware serves as a hedge on your investment and (again, depending on circumstances) they may have more flexibility regardless of which direction the market moves.

In general, though, the odds are currently against the miner.

Can I piggyback into this thread? I've been reading about mining and as I understand it it's not really profitable unless one has a big profesional operation going on. If that's true then how come so many people are still buying individual rigs for themselves?

if you just want to try then you can try cloud mining
it will cheaper and easy
but you shouldn't expect any return from this ever

Either way you loose money.  I might add if you really want to use one of these for proof of concept (losing money) go with BE at least you loose less.  Also check ebay chances are you can get 2 cheaper. 

Again you will lose money on stick usb's sadly.  But it is a good way if you want to try mining just for the sake of mining.

What the heck?  No, it's not "obviously" better.  Don't give people poor advice if you're not sure what you're talking about.

Well, since you already know its not profitable and you seems to know what you are doing. Just get the cheapest one...

he can solo mind find a block and be happy

Is that even proftable? What coin do you plan to mine?

Thank you very much!
im gonna buy 2 antminers just gonna try

God Bless!!!!!

The one with the higher hash rate will obviously be better. 1Gh/s = 1000 Mh/s.

Hi!, Good Day 

can i ask which is better?


ASICMiner Block Erupter USB 330MH/s Sapphire Miner
http://www.amazon.com/ASICMiner-Block-Erupter-USB-Sapphire/dp/B00CUJT7TO

OR

BITMAIN ANTMINER U2 2Gh/s USB Bitcoin ASIC Miner
http://www.amazon.com/BITMAIN-ANTMINER-U2-Bitcoin-Overclockable/dp/B00ITD5NV6/ref=sr_1_1?s=electronics&ie=UTF8&qid=1414834181&sr=1-1&keywords=antminer

im gonna buy 2 usb miners

i know its not profitable
just wanna try

Thanks advance
and
God Bless!!!!!