Topic: Thinking Of Going Into Bitcoin Mining - page 2. (Read 2326 times)

@Searing, thank's for your contribution. i'm following up with every comment posted below this thread.

I dislike the current approach of most miner's  in btc niche. I hate monoply, i'm one the computer science student who fought against monopoly back in school days. Up till date, i donot support or engage myself with any organization(s) who tries to monopolized a specific product,service,program.

☞Pls, check my thread about bitcoin MONOPOLY and how this community can help fight agains such art.

Regard's
Arlene

They were pretty ambitious though going for A3 and A4 chips at same time.   I have not heard any new news on A4 is there any more information?  It just seems like they have been in dev a LONG time that article is from Nov 23, 2015.

Not sure if they announced to early,  kept miners in house, etc.  Just seems we have not had a lot of newer news with A4.  If it does come out though your right it is a heck of a miner for LTC.

*Edit guess they do have some new news - http://www.innosilicon.com/html/news/14.html .  Only thing that scares me I don't know how many of you had A2's but it came to a point the price just dropped a TON and many lost money there.  So pricing is going to be very important.

China mining requires deep pockets (millions of $$$) and more important who you know. If you have that
Kinda "cash" hire me. Free advice into mining big time invest IPO type of cash.  Something like this (they all do it ) you give them big bucks as investor.  They give equivalence the first in stock or cut and equip for your likely to play large farm. In below link their real mnfg cost. Example only new scrypt miner A4 Dominator (read the blurb link below)


http://www.innosilicon.com/html/news/11.html

See partners. Still better off just getting coin imho.
 

Thanks 7788bitcoin, do you think china will be the MOST suitable place compare to Africa?

I was just reading one of the success story publish by one miner(ERICK) who happens to be a snr.member in this forum. you can check out the thread here : https://bitcointalksearch.org/topic/--1072474  if you like to follow-up with the story. I guess you might have read it also .

From the thread it seem most of us who are into Buying & Selling are playing here. Look at how these chineese organize themselves in unity,love and humility among friend's,colleague to set-up bitcoin mining farm. what could be better than this? mining what other's are eager to purchase from you within few minute's!

Thanks
Arlene

My advice is to abandon the idea of going into mining, unless you know what you are doing. Bitcoin trading is already exciting enough. It is extremely difficult to compete with the Chinese for the block reward and the reward is going to half in no time. Think thrice!

the only way to mine btc is to find a good scrypt miner used (titan is best) it is like hunting unicorns
,,,anyway.is to mine with a home scrypt miner and move your stuff (LTC or whatever scrypt coin mined) to BTC via www,shapeshift.io


as an example if you put in the calculator below for LTC  325mh and 1150 watts (gen tarkin 3rd party software reduces watts and better then orig firmware)

use this calc for LTC as an example of what you could make with above (or any other figure for a miner)

www.litecoinpool.org/calc

but BTC diff is so high a home btc miner won't roi anymore even at these prices....the scrypt miners (LTC) will roi but used products are overpriced..esp Titans even used for ROI
(if you can find any) and new product ROI (insilicoin A4's coming out) is also iffy..but better odds then btc mining home equipment imho

ONLY new product scrypt miner wise that I know about coming out (group buy see this thread..everyone is currently a 'maybe' till more specs/info/video etc is the Innsilcon A4
Dominator....they are shooting out bulk sales to big data halls now in China..us small fry will get a shot in Sept (they say) imho more likely (Oct) .

https://bitcointalksearch.org/topic/a4-dominator-pre-order-group-buy-280mh-roughly-1000w-1800-shipping-1523298

You are better off just buying your crypto of choice BTC or LTC and holding imho.

But if you have to get a miner. (drank the kool aid need no roi toy maybe)

A KNC Titan 350 mh (now best you can ever get speed wise (used now) is 325mh more or less imho) or an Alcheminer 256mh (with their version of improved 3rd party privately made gen tarkin firmware ..see bitcointalk threads)...the only other stuff of note is the 110mh
A2 Innsilicon miners which are 'fading' fast and being turned off now...and any miner at 110mh or below you likely will not even pay for electric ..again even at these current
LTC rates..

anyway that is the best bet I can point you too.....worked in the past...looks kinda 'iffy' for the future...with the A4's coming out scrypt and LTC could have their
version of the 2013-2014 large difficulty rise that BTC did back in the day..and they could all be doorstops (A4's) and have an end of life of 6 months. But again looking
at a 260mh A4 scrypt miner at 1000 watts in Sept/Oct (imho Oct) for $1800 bucks plus shipping (lots of 10 thus the group buy link) so call it an even 2k a unit.

With the difficulty rise of these A4's coming out you'd likely need to get 2 A4's imho at the front end to make up the diff at the back end due to the large difficulty
pump say in LTC these units coming out would cause.

Anyway. For what such advice is worth


anyway for what it is worth

added: hmm......posted above but re-read your post..you may be going more large scale then I thought...not home mining..but still scrypt might be a better choice
depending mostly on your electric costs etc (equip bang for the buck)...anyway will leave the above ..I think this also would work better then btc miners even if
large scale mine. Probably more so if you were to contact for A4 in bulk from Innsilicoin driectly..esp if you put the mine up in China instead

Excellent thinking. Maybe you can consider China instead of Africa for your second task? The ASIC miners are mostly assembled in China- you can save on shipping. I heard you can also get cheap electricity in China if you know how.

Good luck!

Recently, i have been reading book's, researches & video's about bitcoin mining.

At the initial stage i donot want to go deep into the mining or development aspect of the task but, right now based on researched which i have made few days ago i will not just be contented with bitcoins trading. i want to go deeper.

So, my first project will be setting up own mining spot in rome. I already have  sufficient space for this project.
And, my second task will involve building bitcoin mining farm in Africa (nigeria) considering the cost of electricity in africa.

Setting up such project will require a lot of work at the initial stage but, the ROI outweight the expenses once this has been set-up.

Any useful idea's, resources,training,partnership to help me accomplish this will be highly appreciated.

Thanks
Arlene