Topic: newbie very important questions ..experts answer me here please .. (Read 823 times)

The purpose of mining it to do the initial Bitcoin distribution, process transactions, and secure the network.

It is a lottery. Each hash is an entry into that lottery. Now that there are more than 2000 miners, the odds of winning for each miner are now proportionally smaller.

Mining was never really intended to turn your computer into a money printing machine; except to encourage initial adoption. If it was easy to generate Bitcoin, they would have no (or very little) value.

got not u  !!!

From one newbie to another:  You are screwed, my friend.

At this point so late to the game, you need to show up in a 400 GH/s Ferrari, not a 10 GH/s Datsun.

@Stinky_Pete  @phillipsjk
I don't think you'll ever get back the price of 4 blades, or a 400GH/s miner
what u mean by this ?
if cant ROI in this 400GH then must delete this forum and stop mining in all world since its useless and nobody can collect his money back !

@b!z
i see the maximum speed now its 400GH ( forget bfl sure )
do u think its no good for coming difficulty and rates ?

@ALL

i am so confused about this bitcoins mining business !!
most of u here trying to say its useless business and not rofitable and also so risky !!
in same time i see too too many pre-orders for butterfly,kcn and bitfury + avalon if open new batch sure will sell alot !! again i ask ! .. is this experts are stupid ppl ?
dont know about bitcoins ?
dont know what they doing ?
why this forum here if this business is almost dead cuz of increase of difficulty everyday !!

please i want sombody real expert advicing me with simple words ( without difficult bitcoins calculations which i not understand really ) what to do now !
i am v curious to work in bitcoins world and i feel this business is still fresh and new in world since its started 2009 as i know ..
sure the creators of bitcoins don't wanna kill it within more 1-2 years !
i am sure i understand somthing wrong ...also sure this business must be good but maybe u don't want any risk and i belive that if u want to gain profit must bear much risk .. thats the business and thats the markets rules ...

i bought asicminer blade 5pcs each for 15.88 BTC from 2 months now its below 5BTC ...i just got it and start mining maybe since 2 weeks .. sure i am so so so so sad cuz of this losing
but need to calm down and think well what to do for try recover this loss ...

finally i need SERIOUS advice from u ...
is it good decesion to order kcnminer 400GH for 7k  usd or even bitfury (delivery for both is about october or novermber max i think ) ?
if not
whats yr advice ?

please don't use complex sentences and words since i am new in btc world and don't understand all your expressions ...

thanks and sorry for long answer .. losing always hurt me

That is entirely possible. Mining is a zero-sum game because the difficulty automatically adjusts based on how much hash power network has.

That target is one block every 10 minutes, or 144 blocks/day (about 3600 BTC per day). With the recent increases in difficulty, the blocks have actually been coming faster (since the difficulty is only adjusted every 2016 blocks).

No, it means our primary motivation is not greed, or the desire to make a fast buck.

http://coin.furuknap.net/understanding-bitcoin-mining-difficulty/

3th of the google search, work your way through.


Good luck mate, but it's like the weather, unpredictable 

hey bro !!! what u mean
if the days of 120day roi are gone its mean all this customers who made pre-orders from bfl,kncminer,bitfury octoper delivery is stupid ppl and dont know what they doing !?!?!?



PLZ ALL .... i need good article about difficulty (not wiki) which explain more about difficulty and what expected in near future .

so ?

first i wanna say thanks vvv much for u to help newbie like me and remember before somtime u was newbie too
about difficulty thanks will read more but if u have good article plz give link ...i know i can read about it in wiki but i dont want to understand it only i want to understand it and read about the expected happening in near future

about this 3 company ... u mean what ? kncminer ..bitfury...and ?
i was planning to buy from kncminer why u don't prefer them ?

The difficulty is expected to boom because of different company's delivering aisic's in Oct Nov. It would be a wise plan to continue with mining on the 40 ghs blades and keeping the bitcion as it is.

Or buy some bitcoin with the money you otherwise would have spend on the 400 ghs miner.
I have spent over 2k to get me an 100ghs miner expecting to come in october and even iam not sure if i would even get any close to ROI

Eventually it all comes down to this, its a gamble and are u willing to play?  Buying bitcoin or mining equipment c.q shares

Spread your chances on company's that have a good rep.

The difficulty has gone up a lot, and you should wait for newer hardware with better rates.

The difficulty has been going up incredibly fast in recent months.

It is an open question whether even the most efficient miners will have any chance of ROI once the average person gets their hands on them.

I think the most likely scenario is that most ASIC hardware will kind of pay for itself over the next 2-3 years.

The days of 120day ROI are gone.

I would begin by seriously doubting the expertise of anyone who's answered thus far, myself included.

I would conclude with realizing there is no answer that will be more accurate than the one you deduce yourself since only you really gives a f*ck about your situation. Other people might offer help and assistance, and definitely learn what you can from other users, but realize most of that will be by researching what has already come to pass than by asking in a thread. In BTC, you should really know the answer before you ask the question.

Learn more about difficulty, and then revisit questions 1) and 2)
I don't think you'll ever get back the price of 4 blades, or a 400GH/s miner

4) 60c is fine.

5) We only know about three so far, two of which should be avoided. Bitfury are looking good, but it's still very early days for them.

ok thanks will search it ..

ASICminer is pretty much the only one to deliver solidly.

WHAT !!!

C. All of the above

i have another qs as newbie hope some experts answer me ..


1 - i have 4 blades each 10GH .. total 40 GH ...using nowdays btc rate i used calculator and found that i need about 6 months to collect my money back !! is there any mistakes in my calculations u think ??

2 - i am thinking serious to buy 400GH miner ... calculations says earning will be about 11k usd per month !! is it also true ?

3 - since i dont know much about difficulty etc but as i understand difficulty increasing everyday .. is this mean if i have 10GH miner after 1-2 months maybe earn me 1-2$ per day only

4 - my miners asic ic's Temp. is about 60c is it risky ? .. i am using big home fans and small fans on heatsink .. so ?

5 - whats the miners producers company u prefer now sure i am talking about price + promises keep + near time of shipping ..

thanks all in advance