Want to start mining need help | Bitcointalksearch.org

uzair94

newbie

Activity: 10

Merit: 0

Quote from: jonnybravo0311 on August 22, 2014, 05:25:25 PM

If you just want to mine for the sake of mining because you like having technology, then buy whatever you want. I'm not quite sure that's your motivation, though, since your first post asked which miner would make you the most.

Given the two choices in your original post, I'd go with the S3.

thank you sir for the information im planing to buy two s3 for start

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

If you just want to mine for the sake of mining because you like having technology, then buy whatever you want. I'm not quite sure that's your motivation, though, since your first post asked which miner would make you the most.

Given the two choices in your original post, I'd go with the S3.

uzair94

newbie

Activity: 10

Merit: 0

sir i like new technologies so thats why i wanna get involve in this industry so please any help in mining would be great its final i wanna do mining just please help me in this

micky123

legendary

Activity: 1022

Merit: 1005

Quote from: uzair94 on August 22, 2014, 12:14:29 PM

Quote from: desired_username on August 22, 2014, 12:10:59 PM

If you want btc then buy it directly. I would only consider mining just to support the network with a cheap USB miner, or run a full node instead.

How much profit can be in buying bitcoins?

hi Uzair,

A sincere request from my side: Please do not see BTC as a profit making gateway as everyone does. Please associate BTC with BTC and not with USD. You are talking about using the currency of the future, lets treat it like one. Many people have started buying stuff with BTC and this is how you should treat it. Not some quick profit making gateway. Since you are a newbie, just wanted to emphasize this point. Just my two satoshi Grin

.

I for one, am going to collect and keep at least 1 BTC till i retire and hoping that it turns into my nest egg! Well.... not really, but if it does that would be great!
Have a nice day!

uzair94

newbie

Activity: 10

Merit: 0

Quote from: desired_username on August 22, 2014, 12:10:59 PM

If you want btc then buy it directly. I would only consider mining just to support the network with a cheap USB miner, or run a full node instead.

How much profit can be in buying bitcoins?

Stinky_Pete

hero member

Activity: 560

Merit: 500

Quote from: uzair94 on August 22, 2014, 12:07:31 PM

Quote from: crocko on August 22, 2014, 10:07:53 AM

Quote from: uzair94 on August 22, 2014, 05:31:12 AM

Hi forum members iam new to this I wanna start mining but don't know how to after some research iam ready to buy some hardware. Please suggest I should buy Avalon3 or Antminer S3. I want to also know that How much can I earn from one miner nowadays please need help kindly guide me.

Hello !

There is a factor called difficulty and this factor will make your Avalons and Ant Miners obsolete.
Try this updated calculator: https://bitcoinwisdom.com/bitcoin/difficulty
At the current difficulty you will need at least 2 TH/s (or 2600 GH/s) in order to produce 1 BTC / per month
My advice is: better buy BTC or a big mean ASIC (of TH/s magnitude).

Sir i dont need to produce every btc per month for start. Half a btc permonth will also be good for me

And the next month you will get half of that, and the month after it's half again...

desired_username

hero member

Activity: 886

Merit: 1013

If you want btc then buy it directly. I would only consider mining just to support the network with a cheap USB miner, or run a full node instead.

uzair94

newbie

Activity: 10

Merit: 0

Quote from: crocko on August 22, 2014, 10:07:53 AM

Quote from: uzair94 on August 22, 2014, 05:31:12 AM

Hi forum members iam new to this I wanna start mining but don't know how to after some research iam ready to buy some hardware. Please suggest I should buy Avalon3 or Antminer S3. I want to also know that How much can I earn from one miner nowadays please need help kindly guide me.

Hello !

There is a factor called difficulty and this factor will make your Avalons and Ant Miners obsolete.
Try this updated calculator: https://bitcoinwisdom.com/bitcoin/difficulty
At the current difficulty you will need at least 2 TH/s (or 2600 GH/s) in order to produce 1 BTC / per month
My advice is: better buy BTC or a big mean ASIC (of TH/s magnitude).

Sir i dont need to produce every btc per month for start. Half a btc permonth will also be good for me

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Quote from: uzair94 on August 22, 2014, 05:31:12 AM

Hi forum members iam new to this I wanna start mining but don't know how to after some research iam ready to buy some hardware. Please suggest I should buy Avalon3 or Antminer S3. I want to also know that How much can I earn from one miner nowadays please need help kindly guide me.

Hello !

There is a factor called difficulty and this factor will make your Avalons and Ant Miners obsolete.
Try this updated calculator: https://bitcoinwisdom.com/bitcoin/difficulty
At the current difficulty you will need at least 2 TH/s (or 2600 GH/s) in order to produce 1 BTC / per month
My advice is: better buy BTC or a big mean ASIC (of TH/s magnitude).

madken7777

full member

Activity: 182

Merit: 100

Quote from: uzair94 on August 22, 2014, 09:24:36 AM

Yea sir many ideas but not know where to start profitabily

There is no profit in mining.

The cost of one bitcoin on the exchange right now is around $510. If you do mining, the cost of one bitcoin is around $600 if you use antminer s3.

Do the comparison and figure out where the price is heading and profit from the price difference.

uzair94

newbie

Activity: 10

Merit: 0

Yea sir many ideas but not know where to start profitabily

MilesJohan

sr. member

Activity: 378

Merit: 250

Quote from: uzair94 on August 22, 2014, 08:28:46 AM

Sir I live very near to china so importing will not be a issue as iam already in importing goods from china. As to address the issue of electricity I have plans also to use solar panels for electricity.

Using solar panel is a good idea but it cost a lot to install solar panel. Good luck with that..

uzair94

newbie

Activity: 10

Merit: 0

Sir I live very near to china so importing will not be a issue as iam already in importing goods from china. As to address the issue of electricity I have plans also to use solar panels for electricity.

micky123

legendary

Activity: 1022

Merit: 1005

Quote from: uzair94 on August 22, 2014, 07:29:44 AM

Quote from: sgk on August 22, 2014, 07:01:41 AM

Quote from: uzair94 on August 22, 2014, 06:46:08 AM

Yes I have used them. Basically I will mine at home I have other business going on so electricity will be covered

OK, so with Antminer S3 (453 GH/s) - purchase cost $350; and modest 10% rise in mining difficulty, you'll be able to break-even in 120 days, at $0.05/kwh electricity cost.

Thanks for you information sir. I am planning to buy two antminers then with revenue I will buy script Asics. Is this idea of business is okay?

Mining is a losing proposition, especially with the difficulty rising every 7 days. Have you taken into account import duty in your calculations? I presume you are not living in china? The import duty can cost quite a bit of money. IMHO, it is better to invest the said funds into buying some BTC when it is cheap, this low price will not last forever! Alts are a very risky business.. there are literally 100 alts being released every week, separating the grain from the chaff is difficult and still, there is no guarantee that the alt you choose (after several days of research) will be accepted by the market. There have been many cases of alts which promised a lot, and the market never accepted. Please be very careful in the alts market. Just saying. Good luck with your endeavors!

uzair94

newbie

Activity: 10

Merit: 0

Quote from: sgk on August 22, 2014, 07:01:41 AM

Quote from: uzair94 on August 22, 2014, 06:46:08 AM

Yes I have used them. Basically I will mine at home I have other business going on so electricity will be covered

OK, so with Antminer S3 (453 GH/s) - purchase cost $350; and modest 10% rise in mining difficulty, you'll be able to break-even in 120 days, at $0.05/kwh electricity cost.

https://i.imgur.com/QoFTplZ.png

Thanks for you information sir. I am planning to buy two antminers then with revenue I will buy script Asics. Is this idea of business is okay?

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: uzair94 on August 22, 2014, 06:46:08 AM

Yes I have used them. Basically I will mine at home I have other business going on so electricity will be covered

OK, so with Antminer S3 (453 GH/s) - purchase cost $350; and modest 10% rise in mining difficulty, you'll be able to break-even in 120 days, at $0.05/kwh electricity cost.

uzair94

newbie

Activity: 10

Merit: 0

Yes I have used them. Basically I will mine at home I have other business going on so electricity will be covered

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: uzair94 on August 22, 2014, 05:46:26 AM

avalon3 is 325gh/s and Antminer s3 is 453gh/s. Both are not 800gh/s. How much I will be able to generate from them

Did you try the calculator link I posted?

BitcoinAddicts

hero member

Activity: 502

Merit: 500

Quote from: uzair94 on August 22, 2014, 05:46:26 AM

Electricity is not an issue because there is cheap electricity in my country just curious or say want to try it just asking which hardware is good and will I able to cover my hardware price and will able to buy new hard ware from money it generate thanks for reply also I want to expand business not just hobby. ALSO avalon3 is 325gh/s and Antminer s3 is 453gh/s. Both are not 800gh/s. How much I will be able to generate from them

How cheap electricity is cheap? You would be surprised that you can't ROI even with $0.05/kwh.

uzair94

newbie

Activity: 10

Merit: 0

Electricity is not an issue because there is cheap electricity in my country just curious or say want to try it just asking which hardware is good and will I able to cover my hardware price and will able to buy new hard ware from money it generate thanks for reply also I want to expand business not just hobby. ALSO avalon3 is 325gh/s and Antminer s3 is 453gh/s. Both are not 800gh/s. How much I will be able to generate from them

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

At current Bitcoin prices, mining isn't much profitable, you should try directly buying BTC.

But if you're inclined to mining, use this calculator to calculate your earnings and payback period on your hardware -
https://alloscomp.com/bitcoin/calculator

Considering a Avalon3 800 GH/s miner, you can earn 0.5 BTC per month at current difficulty. This does not take into account the electricity cost.

edit: Here's a nice comparison of available hardware:
http://www.bitcoinx.com/bitcoin-mining-hardware/

uzair94

newbie

Activity: 10

Merit: 0

Hi forum members iam new to this I wanna start mining but don't know how to after some research iam ready to buy some hardware. Please suggest I should buy Avalon3 or Antminer S3. I want to also know that How much can I earn from one miner nowadays please need help kindly guide me.

Topic: Want to start mining need help (Read 1939 times)