Topic: Want to get started mining, am I too late? (Read 1100 times)
I think your best bet would be to try and grab a used S3 or two, see how you like mining and see if it's worth it with your power cost to earnings ratio. After a month of running them you can easily judge whats in your best interest and see if you want to invest more $ into equipment or just purchase BTC instead as an investment.
I had done some CPU mining back in the early days, then GPU mining some alt-coins back in the big run up in 2013. I've been out of the game for the last year or so, because the economics just didn't make sense.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
YOU are not too late as 7 cents a kwatt is cheap enough.
A) do you have a psu?
B) what country are you in?
I had done some CPU mining back in the early days, then GPU mining some alt-coins back in the big run up in 2013. I've been out of the game for the last year or so, because the economics just didn't make sense.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
How many hobbies do you know that could be lucrative in the near future? Mining has stabilized. The more you spend, the more potentially you could make. Could is the key word. The game has changed. I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
Do not buy S5s. It's too expensive, and the price grows up day by day...
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
SP20s is bad , man, 1.7 tera with 1200 power consumption, how this is better than s5.... scrypt miner are too expensive, and in the end you are looking for the same profit, but with more vulnerability, because scrypt coins are more prompt to die in comparison with bitcoin
Scrypt miners more then the expense is they are old tech. A lot of them are not efficient anymore. The A2 was king for a long long time. But once SFards miner's start pumping out none of the old scrypt miners will be able to compete at all.
I suggest for starting mining Bitcoin. It is just a good way to start. But yes very bad time to invest in scrypt asic gear with SFards coming.
Do not buy S5s. It's too expensive, and the price grows up day by day...
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
SP20s is bad , man, 1.7 tera with 1200 power consumption, how this is better than s5.... scrypt miner are too expensive, and in the end you are looking for the same profit, but with more vulnerability, because scrypt coins are more prompt to die in comparison with bitcoin
Do not buy S5s. It's too expensive, and the price grows up day by day...
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
Buy some used scrypt miners instead, 90 MH/s and up. Or may be some energy-efficient miners hashing at 25-30 MH/s. Or may be some used S5s/SP20s are your choice too, if they are not overpriced.
Solar is honestly a different investment then mining. It can be used for mining but think of them as 2 investments. If using a decent quantity of miners it just would take a ton of solar gear, and is cheaper to follow cheap electricity.
Oh, totally agreed. I'm getting the solar for reasons outside of mining. But because of the solar, i'd be able to mine at $0.07 / kWh vs $0.12 / kWh, as my normal day to day at the house won't be utilizing any of my normal tier 1 electricity rate.
A week ago I would have said heck yea go get a S5. But with around 100 in a week higher price I would say do your ROI math. For some there is profit others there is not.
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
Not sure what you mean by the 100 in a week higher price. Do you mean the price of bitcoin going up, or that the price of S5s have gone up?
Are S5s pretty much the best deal hardware wise right now? Is there anything else worth even evaluating?
I mean the price of the S5 going up 100 dollars to buy. It might be great I just have not done math on it. I did lots of ROI on old pricing, but as of now that is all useless. Someone who has done some math with new price could let us know what they think.
And I wish I was wrong about old miners getting advantage. I love new miners coming in. It still is possible for new people to mine if electricity is right. But those who believed in mining a while back and stocked up on gear are doing pretty good with low difficulty increases and the new BTC price that keeps going up.
Will I buy some new miners one day sure... but I'm currently enjoying my current ones and extremely happy I mined during summer. I thought about selling gear and not doing it because of heat of summer.
Solar is honestly a different investment then mining. It can be used for mining but think of them as 2 investments. If using a decent quantity of miners it just would take a ton of solar gear, and is cheaper to follow cheap electricity.
Oh, totally agreed. I'm getting the solar for reasons outside of mining. But because of the solar, i'd be able to mine at $0.07 / kWh vs $0.12 / kWh, as my normal day to day at the house won't be utilizing any of my normal tier 1 electricity rate.
A week ago I would have said heck yea go get a S5. But with around 100 in a week higher price I would say do your ROI math. For some there is profit others there is not.
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
Not sure what you mean by the 100 in a week higher price. Do you mean the price of bitcoin going up, or that the price of S5s have gone up?
Are S5s pretty much the best deal hardware wise right now? Is there anything else worth even evaluating?
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
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Sure am. Just stay away from pre orders. It not worth the wait in the mining game. It its shipping and established (s5) then its good to go.
If the btc price goes up then sure. i mined when it was at $2. way under my ROI, but it ended up being worth it in the long run. every case is different tho
If you are ready to pour money into this hobby for the energy bills then you are not too late. Otherwise you are too late!
Not what I was hoping to hear!
I had done some CPU mining back in the early days, then GPU mining some alt-coins back in the big run up in 2013. I've been out of the game for the last year or so, because the economics just didn't make sense.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
Solar is honestly a different investment then mining. It can be used for mining but think of them as 2 investments. If using a decent quantity of miners it just would take a ton of solar gear, and is cheaper to follow cheap electricity.
A week ago I would have said heck yea go get a S5. But with around 100 in a week higher price I would say do your ROI math. For some there is profit others there is not.
And honestly everyone that bought their gear a while back and still mining with it is the ones that are doing good at home mining.
If you are ready to pour money into this hobby for the energy bills then you are not too late. Otherwise you are too late!
If you can afford a new miner, I highly suggest that you go with it. Used miners may have a little life span and probably wont make you any profit. I'm not really into mining because I don't see small mining as profitable anymore. Giant farmers on China is killing the small miners. I'd rather go invest my coins or my fiat to something else.
I had done some CPU mining back in the early days, then GPU mining some alt-coins back in the big run up in 2013. I've been out of the game for the last year or so, because the economics just didn't make sense.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
I just moved into a new place, and am getting solar installed that will just about net out my electricity usage. What that means is that I should have some capacity in my "base" tier ($0.07 / kWh) to run an asic miner, if it made sense.
To be honest, I don't know where to start. Is it best to buy new miner or get an older miner used? Is there anything coming available soon that would make sense to wait on? Is there anything available today that can be run small scale, and not cost more to run than it makes?
I'm not looking to get rich, it would be more of a hobby thing. But I don't want to run the hobby if it's going to run negative the whole time.
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