noob- have couple quick ?'s...

[mhyde71]

so -friend and i want to pull some loot together and get several miners
what would be the best approach make most profitable ??

lets say we have 5K to spend on miners
should we get all script? Should we mix it up?? if mixing it up is ideal, which ones stand out as being potentially the best??

how many miners can be run off/through say like an older gamer- is that infinite amount?? or does like every two miners need one computer/laptop??
one power supply can run two miners- is that correct??

and we here in vermont our elec is .12c/kwh- we figure about like 2$/day per miner - so with knowing that- might someone be able to estimate like about how much we could make off an l3+....or are there even better miners that will yield more hash power??

so at end of day- with 5K to invest on miners - what would you do??
pls thx in advance for any/all info and comments/suggestions

[alim]

Welcome @mhyde71, I'm very green behind the ears - maybe 1 page ahead of you in the play book.

Nice hash have a calculator which will tell you how much / day you can expect to earn from most of the main specs.

Be aware of your pool limitations when you buy an asic - you have three options as far as I can see:

1. Set up a p2p yourself - mining the coin you want in the end.
2. Join pools for the asic algo you buy - eg a Sia pool for Blake - some of these merge mine to increase target coin payout, some let you pick / switch your payout.
3. Join a pool which lets you mine with any algo and be paid in the coin you prefer to receive (like prohashing).

Economically, you need to consider how quickly the algo is likely to rise (and therefore the likely life span of your rigs) - and bear in mind that new coins may indeed come on board which will provide mining opportunities. I'm hedging bets so I have mine 2 algos currently.

If you are buying directly from BItmain, consider picking up some coupons on EBAY to defray the cost substantially (note only 1 coupon can be used per order, and their lower cost items do not allow the larger coupons to be used against them).

If you are buying off ebay, understand two things: 1) the warranty is void as you did not purchase from Bitmain directly, and 2) there are scammers who request you pay them in BTC. I've reported two listing for the X3 - the last claimed they could delivery from the USA to the UK for £675 (list price is USD$1990, add the PSU ($105), add shipping ($200), add customs (20% of $2195)... This is a long winded way of saying if the deal looks too good to be true, or they say they have 20 X3s already set up, then it is probably a scam.

[zafar177]

Get asics
Buy new from bitmain = long wait + warranty + customs charge depending upon your location.
Buy new from obelisk.tech = long wait + warranty or checkout discord channel for people selling machines from batch 1
Second hand = quicker delivery + no warranty
Choose any algo except x11(D3's)

Or

Use the 5k to buy some crypto

[mhyde71]

hey thanks Alim for sharing

yes- i am on fence about where to buy them from
funny thing is i will be about 40-minutes away from Bitmain in June and have reached out to them about maybe picking up at headquarters in Beijing- but they said they only do shipping
- but im okay with that
I am considering maybe having them ship to me at my Beijing address, but i haven't worked that through yet completely- bc i am only there for month and would hate for something wonky to take place and have them arrive like 2 days after we leave back to usa.
but be that as it may
so on the coupon idea- i am and have already bought some coupons and had them sent to my account on bitmain
- last i looked i saw that the l3's were like 646$.....so would i be able to use like a 200 or 400$ coupon with that? and where do i find that info about which is the most coupon i can use with the l3"s?? i ask because i haven't seen anything like that written anywhere- but the 100 dollar coupons i have in the account ready to go - i believe it reflected properly and did give me the 100$ off. how much higher would i be able to go with the coupons??

I had considered just getting them from amazon bc i would like to get it going asap- or locally to me in mass here as i have found some guys with listings on local classifieds page (craigslist) that claim they have New in box bitmains- and just come with cash for p/u?? - but the warranty thing is a concern for me - totally


also i cant find the profit calculator on prohashing?? where do i find that?? I did find the daily profitability page- but i just cant find like where to enter my elect costs, and other variables to get a better sense of what we might yield with real money

again thank you and look forward to hear back>

[Steve Sokolowski]

hey thanks Alim for sharing

yes- i am on fence about where to buy them from
funny thing is i will be about 40-minutes away from Bitmain in June and have reached out to them about maybe picking up at headquarters in Beijing- but they said they only do shipping
- but im okay with that
I am considering maybe having them ship to me at my Beijing address, but i haven't worked that through yet completely- bc i am only there for month and would hate for something wonky to take place and have them arrive like 2 days after we leave back to usa.
but be that as it may
so on the coupon idea- i am and have already bought some coupons and had them sent to my account on bitmain
- last i looked i saw that the l3's were like 646$.....so would i be able to use like a 200 or 400$ coupon with that? and where do i find that info about which is the most coupon i can use with the l3"s?? i ask because i haven't seen anything like that written anywhere- but the 100 dollar coupons i have in the account ready to go - i believe it reflected properly and did give me the 100$ off. how much higher would i be able to go with the coupons??

I had considered just getting them from amazon bc i would like to get it going asap- or locally to me in mass here as i have found some guys with listings on local classifieds page (craigslist) that claim they have New in box bitmains- and just come with cash for p/u?? - but the warranty thing is a concern for me - totally


also i cant find the profit calculator on prohashing?? where do i find that?? I did find the daily profitability page- but i just cant find like where to enter my elect costs, and other variables to get a better sense of what we might yield with real money

again thank you and look forward to hear back>

You can determine how much money you can expect to earn by multiplying the values in the "expected payouts" chart in the upper left of the "charts" page times the hashrate of the miners you will be using. If you have a miner that puts out 20 MH/s of scrypt hashrate, and the earnings rate is 1 cent per MH/s/day, then you can expect to earn 20 cents per day.

These numbers will continue to go down as the current bubble deflates, as I don't think that the bottom of this cycle has been reached. Scrypt is still well above the breakeven rate, and I think that if litecoins bottom out for this cycle at $40 or $50, and the hashrate continues to increase, you'll probably earn 0.25 cents/MH/s/day at that point. If you disagree and think that the bottom of this cycle already occurred, then you can count on more profits.

[mhyde71]

hi steve and thanks for chiming in

what do you mean or refer to about 'the bubble'?

[alim]

@mhyde1 Bitmain will not ship to China

Calculator I referenced if you don't want to do the math: https://www.nicehash.com/profitability-calculator# (eg one of Prohash's competitors)....

Coupons: I don't have a $200 one. The L3 and T9s will only accept my $100 ones. I'm waiting until after I see real reviews before putting a higher value coupon against that. Is you can pick up a $350/$420 coupon, that would defray the cost of a more expensive one.

Bitmain let you pay in LTC/BCH/BTC and possible ETH (but it must be the same coin). So if you bought low, you might want to give up 5 coins or so rather than part with the cold hard cash.

Amazon has it's own scammers - I've seen adverts charging up the 4x the Bitmain cost and others not being specific about who pays the shipping / import duty costs.

Getting a deep discount is more important than losing 1 week's coin mining (between $42 and $75).

[CSZiggy]

This late into this generation, I think I would just buy the coins rather than mine them.

With the output dropping 10% every 3rd day, your likely to not get your investment back this late into it. A year ago would have been a good time to buy a machine.

[zafar177]

Also looking at your comments; you really need to do some reading about the whole crypto scene. Expecting to be led by the hand is not the way to proceed when you are spending significant amounts of cash.

[mhyde71]

Thanks csziggy- yeah thats what we had been discovering last few weeks, and really wanted someone that was more intimate/savvy about it to shed some light.
thank you!

for zafar- yeah thanks - have you recently tried googling this info- we did- for weeks and could only find info dated back to Sept...we wanted some more recent data - and information
5K isnt really that significant to us- we just want to be sure we are making right decisions- with whatever we spend- large or small
sorry for getting into the game now and wanting to ask questions-
was there a reason you wanted to make these comments or just being difficult is your nature.

i find it hard to believe that we are the only ones considering about getting into the game- we just dont know anyone to ask-
thought thats what these forums and threads were all about