I did a lot of research before buying a used S7 and getting into mining... Kano seemed to be the best pool for fees, I liked the "medium size" vs. joining a mega pool like Antpool... and quite frankly, this discussion board has been really helpful and interesting as I get further into the business. Seems like a nice community that celebrates blocks, congratulates new block finders (no such luck for me yet!) and respectfully answers rookie questions (thanks Overcon, for the explanation last week)
Now I need to figure out where/how to do remote hosting and how to expand my mining fleet without paying a zillion dollars for equipment on Ebay.
mine on!
Meark,
I started mining with a little dinky antminer U3 that cost about $25. Bitcoin was valued at $237 at that time. I ran the antminer off my main computer and I think I used bgminer software. I seem to recall using Elgius pool and several others to try out the concept.
After I confirmed you really could get bitcoin dust out of such things I looked around and settled on bitmain's S7. The S7 and associated bitmain power supply cost me 2.133 bitcoin. The cost in dollars was $720 (1.649BTC) for the S7 , $140 (0.321 BTC) for the APW3 power supply, and .163 bitcoin for fedex. Bitmain only accepted bitcoin for purchases of antminers. After that I used the bitcoin produced by the S7 to purchase a S7LN, then used the bitcoin produced by those to purchase a second then a third S7LN. The S9 was purchased by bitcoin produced by the 4 miners plus the rapid rise in bitcoin value. I then purchased 2 power supplies and waited until I had enough bitcoin to purchase a second S9. I do not run the S7s at this time due to it being summer and I am already paying heavily for keeping the house air conditioned. I may use them when it gets cold in the fall, but mainly to purchase more S9s. The goal is to supplement my retirement income so I can retire at 62 in 2018. 10 S9s would make a healthy income for a frugal family. Planning will need to be done if "Mr Fusion" is not available in the next year or two. 10 S9s would use 15000 watts of power, which at 220 volts is about 68.2 amps. That is doable with house wiring capable of 200 amp, which most are.
In case you have noticed my initial investment was under $1000. Investment after that was me paying for electricity out of my day job so the more rare bitcoin could be kept to purchase more miners. Bitmain also is a bit slow on production, doubtless because they are using most of their product for themselves on their farm. You have to check Bitmain's website often to get a chance to purchase a S9.
Hope this info was helpful in some way.
dzimmerm