Getting into Mining

[Avenger213]

Thinking about ordering a couple 600GH Butterfly Labs cards.

According to profibiliabity calculator, it looks like I should recoup my money fairly quickly.

Besides the risks inherent in mining cryptocurrency, are there any risks in the short time that I'm not thinking of?

Is a deluge of ASIC mining equipment going to my the difficulty so high that a couple of 600GH models will be unprofitable quickly?

 

[Dreamerbydesign]

It takes a substantial investment to make any money now with bitcoins. You stand a better chance making a small profit with litecoins, which cannot be mined with ASIC's

 

[Avenger213]

So I should try to be a part of the feeding frenzy for R9 290s and just start mining litecoins, if worse comes to worse I end up with badass video cards?

 

[mkrohn]

Do some reading... NFL doesn't ship for quite a while and with diff cramping don't bother. The 290 cards are a pain to work with. I'm going to build more 7850 type rigs.

 

[/usr/sbin]

So I should try to be a part of the feeding frenzy for R9 290s and just start mining litecoins, if worse comes to worse I end up with badass video cards?

Pretty much.

 

[Avenger213]

Pretty much.

7850s are easier to work with?

Essentially worth nothing if liyecoin goes belly up thoigh right?

 

[mkrohn]

7850s are easier to work with?

Essentially worth nothing if liyecoin goes belly up thoigh right?

if every scrypt coin goes belly up they're still worth around $90 or so. WTF you think happens with the BFL mining setup? scrypt and LTC aren't going belly up unless BTC does.

It is simply STUPID to order a BFL this late in the game. Even if at TODAYS diff you think you'll recover the money in 2 months odds are it'll actually take more like 6-12mnths by time you accept delivery.

Order the parts for a scrypt rig and you're up and running on tuesday/wednesday if you order from a good place like amazon. Design the rig around Z77 or similiar NEW and decent boards and you'll have a decent resale value. Or hell build an AM3 and at least the mobo/CPU you're under $150.

You seem to just want to get some ASICs which honestly if you could pay for them and get them a week later then hell yeah order them. I was considering the same recently but even when BFL advertises they have stuff in stock it takes more than a month for them to even ship crap out. Cancelling orders is impossible too. Just don't give your cash to POS companies.

If you have an urge to mine either build a scrypt rig or convert that cash into various coins and do some day trading. You'll do better wiht $4500+ doing that then dropping it into BFL

The reason I say 7850's is because they are easy to get at $170 and less. You can run all 4 on a 600w PSU easily. Possibly even a 550 if the CPU is a low power chip. You can be up and running at LEAST 1.2Mh under $1k. I am planning on having 6 in a single rig at some point but 4 is about the max before things can get problematic.