Friday 29 April 2016

Recently got into Bitcoin and have some questions about potentially mining

So a month back I got a wallet and some bitcoins to purchase something. Then I got into reading a bit about mining and it seems like a cool idea.

Now I read that if I want to use my PC to mine, it would only be worth it if I paid less than $0.1/kWh or something like that? Honestly, I'm not sure how much I pay per kWh atm but I'll check that out this weekend.

What I found more interesting are the Mining Hardware Solutions. On bitcoinmining.com I found those big guys that are 150-800 bucks and the USB miners for far less. Now, while the SP20 Jackson (150$) mines approximately 0.1593 BTC per month I couldn't find such an estimate for the USB miners. It's probably much less, right? Are the USB ones even worth it then? Also, if I bought the SP20 Jackson for 150$ and got 0.1593BTC/month I would only need like 2 months to get back my investment, right? (minus energy cost). If I bought the AntMiner S7 I would need about 3-4 months to get back my investment but end up mining more after that and it's the most power efficient one of the 3 offered there.

Basically I'm asking for a recommendation. I guess I'd be ok with investing upfront, but in the long run which solution would be most efficient? It's not about how much bitcoins I mine in total, but how big my income-to-invest-ratio is, so if I spend a dollar a month and get 2 dollars a month it's better for me than spending 200 bucks a month and getting 300.

Hope I'm not talking too crazy or stupid and hope someone can help me. Have a great day :)



Submitted April 30, 2016 at 09:35AM by galazam_jones http://bit.ly/1rGuTMh

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