BIG UPDATE!! 2013-09-04
DOUBLE OR NOTHING
My second batch of five USB block erupters has arrived! I'm amazed that they were here at about 11am today when I ordered them at 4pm yesterday! I highly recommend dadj aka Leo as a reliable supplier of USB miners. Thanks, mate! I paid 0.95 BTC for the five miners including express shipping.
I needed an adapter for the Israeli DUB-H7, but fortunately I had one.
I also upgraded to MinePeon 0.2.3a
Setup was absolutely painless. I imaged MinePeon to my SD card, connected ethernet to the RPi and booted. Then I just used sudo wicd-curses to set up the wifi connection, plugged everything in, and applied power. It sorted itself in a minute or two, and was then ready for my pool details. Easy!
I'm now mining at about 3.4GH/s, with an LCD status screen.
Pictures to follow. . . .
Topic: A case study in entry-level mining - page 10. (Read 53578 times)
oh i didnt notice the edits on the first post, try out bitminter, its pretty good for me so far getting .00041 btc per day (1 erupter)
edit: yay difficulty increase
now 1 erupter gives .00025-.0031
edit: yay difficulty increase
now 1 erupter gives .00025-.0031
well, its like 23~ to ship it, or so says USPS.com, so yeah, 1 more week until i can buy it :B
i would get you one but i dont get my check until 1 week from now, and it would be my first time shipping things internationally :B
edit: i can get it on newegg for 28.18 with 3 day business shipping, not sure how much it would cost to ship to aussie from florida
if you dont get it resolved by the time i have some money, i dont mind buying you one for btc worth the same as its price 28.18+ w/e shipping costs (would be cool if you gave me instructions on shipping stuff too)
edit: i can get it on newegg for 28.18 with 3 day business shipping, not sure how much it would cost to ship to aussie from florida
if you dont get it resolved by the time i have some money, i dont mind buying you one for btc worth the same as its price 28.18+ w/e shipping costs (would be cool if you gave me instructions on shipping stuff too
)Go to USPS. they will help you do International shipping. basically, it is just one short from to fill out. easy really. just watch cost, go cheapest way or it might cost more than what you are sending.
i would get you one but i dont get my check until 1 week from now, and it would be my first time shipping things internationally :B
edit: i can get it on newegg for 28.18 with 3 day business shipping, not sure how much it would cost to ship to aussie from florida
if you dont get it resolved by the time i have some money, i dont mind buying you one for btc worth the same as its price 28.18+ w/e shipping costs (would be cool if you gave me instructions on shipping stuff too)
edit: i can get it on newegg for 28.18 with 3 day business shipping, not sure how much it would cost to ship to aussie from florida
if you dont get it resolved by the time i have some money, i dont mind buying you one for btc worth the same as its price 28.18+ w/e shipping costs (would be cool if you gave me instructions on shipping stuff too
) After contemplating my options, I am now considering buying more Block Erupters with the BTC I have earned from mining. daemondazz's perpetual group buy is currently selling BE's for 0.4 BTC each. For that price I can pick up 7 and start mining at 4.0GH/s. However, I need another DUB-H7, and they are becoming increasingly difficult to find in Australia.
Is anyone able to buy a DUB-H7 on my behalf and ship it to Australia?
Is anyone able to buy a DUB-H7 on my behalf and ship it to Australia?
I use myUS.com as a forwarding address so I can buy things on newegg etc and get them shipped to me here in Australia. Shipping is pricey, but depending on what you're getting it can still end up cheaper than getting locally, especially some software, computer hardware, camera lenses etc.
After contemplating my options, I am now considering buying more Block Erupters with the BTC I have earned from mining. daemondazz's perpetual group buy is currently selling BE's for 0.4 BTC each. For that price I can pick up 7 and start mining at 4.0GH/s. However, I need another DUB-H7, and they are becoming increasingly difficult to find in Australia.
Is anyone able to buy a DUB-H7 on my behalf and ship it to Australia?
Is anyone able to buy a DUB-H7 on my behalf and ship it to Australia?
Some of us actually spend them, like you know, Money.
Yes, but you don't spend them the instant they are generated do you? The point I'm trying to make is that I've seen people saying "I work out the most profitable coin on a minute to minute basis and mine that". That makes no sense to me - it makes more sense to me to mine each coin for a day, week, whatever and spend or sell when the exchange rate makes it worth while.
I'm not sure what all the fuss about current profitability of one coin versus another is on these forums, unless you are selling the coins at the instant you generate them. Surely you'd hold on to them and then choose a time to sell them when it is profitable to do so? Or just hold on to them an speculate the price will take off like BTC has over the last 6 months.
If you were mining BTC back in 2009/2010 and they were worth a few cents each (where most of the altcoins are now) they wouldn't have looked so profitable then either!
If you were mining BTC back in 2009/2010 and they were worth a few cents each (where most of the altcoins are now) they wouldn't have looked so profitable then either!
Some of us actually spend them, like you know, Money.
I'm not sure what all the fuss about current profitability of one coin versus another is on these forums, unless you are selling the coins at the instant you generate them. Surely you'd hold on to them and then choose a time to sell them when it is profitable to do so? Or just hold on to them an speculate the price will take off like BTC has over the last 6 months.
If you were mining BTC back in 2009/2010 and they were worth a few cents each (where most of the altcoins are now) they wouldn't have looked so profitable then either!
If you were mining BTC back in 2009/2010 and they were worth a few cents each (where most of the altcoins are now) they wouldn't have looked so profitable then either!
Non-SHA would be any of the Scrypt based coins. You'll need to use a GPU though, as none of the SHA ASICs will work on those coins.
at the current price of asics, you can get 1980 mhash for the same price of 500khash (7950), also, according to coinwarz AND dustcoin, bitcoin is the most profitable coin right now
(although when its gpu vs gpu mining, scrypt makes more profit, what im saying is that you would make more mining with asics on bitcoin rather than investing in graphics card)
Non-SHA would be any of the Scrypt based coins. You'll need to use a GPU though, as none of the SHA ASICs will work on those coins.
UPDATE!! 2013-08-06
My first CD has matured, and I have paid out all my mining profits. Not as much as I'd hoped, but now I have some liquidity. What will be my next move?
Buy more AMUs? Buy alternative hardware? Another CD? Cash out to fiat? Invest in shares or derivatives?
Give me a suggestion with a rationale and I will consider it!!
My first CD has matured, and I have paid out all my mining profits. Not as much as I'd hoped, but now I have some liquidity. What will be my next move?
Buy more AMUs? Buy alternative hardware? Another CD? Cash out to fiat? Invest in shares or derivatives?
Give me a suggestion with a rationale and I will consider it!!
This is probably way too late but what the heck ...
Since you seem more on the hobbyist level (like me), you may want to consider doing something different than what you've already done, to increase your learning.
You have some mining hardware, and you're mining BTC, so you've "done that".
You made the loan, and had it work out well.
So maybe the securities, or mine another SHA256coin other than Bitcoin, or possibly even start building a non-SHA256 mining setup?
Curious to hear what you do ..
-wot_gup
what exactly do you mean by a non sha256 mining setup, and as for mining other coins, atm the only sha close to bitcoin in profit is ppcoin, which is at 80~% of bitcoin, and Terracoin is doing god awful
UPDATE!! 2013-08-06
My first CD has matured, and I have paid out all my mining profits. Not as much as I'd hoped, but now I have some liquidity. What will be my next move?
Buy more AMUs? Buy alternative hardware? Another CD? Cash out to fiat? Invest in shares or derivatives?
Give me a suggestion with a rationale and I will consider it!!
My first CD has matured, and I have paid out all my mining profits. Not as much as I'd hoped, but now I have some liquidity. What will be my next move?
Buy more AMUs? Buy alternative hardware? Another CD? Cash out to fiat? Invest in shares or derivatives?
Give me a suggestion with a rationale and I will consider it!!
This is probably way too late but what the heck ...
Since you seem more on the hobbyist level (like me), you may want to consider doing something different than what you've already done, to increase your learning.
You have some mining hardware, and you're mining BTC, so you've "done that".
You made the loan, and had it work out well.
So maybe the securities, or mine another SHA256coin other than Bitcoin, or possibly even start building a non-SHA256 mining setup?
Curious to hear what you do ..
-wot_gup
How much does this set up actually bring in weekly at the current difficulty?
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
I made BTC 0.00360783 in the last 24 hours on one Erupter. Yeah, i have one erupter pointed at it's own account on one of the major pools.
i get a bit more on bitminter on a good day
How much does this set up actually bring in weekly at the current difficulty?
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
I made BTC 0.00360783 in the last 24 hours on one Erupter. Yeah, i have one erupter pointed at it's own account on one of the major pools.
How much does this set up actually bring in weekly at the current difficulty?
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
it depends on what you mean by this setup, do you mean the same amount of block erupters, or do you mean the amount of block erupters you could get with the 13 he used on erupters (he only as 5)
5 erupters on bitminter would get you around .02 or so btc per day right now, on the other hand, 13 btc worth of erupters (34 of them) would get you .13~ btc per day
the math is based on how much i get with my 1
keep in mind that you get less and less per day (but the price of btc goes up and up lately so it doesnt matter)
How much does this set up actually bring in weekly at the current difficulty?
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
Looking to set this up myself as a hobby/experiment but wondering how much of a loss I'll be facing
Figure it's more interesting than just buying coins all the time haha.
For all the naysayers whining about how obviously unprofitable this set up is - don't forget that it's not all about profitability for many people.
I'm in a similar situation. I overspent on a couple of USB Erupters that were being sold in my area in-hand, and am comfortably hashing away at a measly 660MH/s. I knew it would never be profitable, and I would barely make my money back on the hardware costs (a Belkin USB hub thrown in as well).
However, I'm interested in the BTC ecosystem and hardware, and wanted to have a try at getting everything set up as a hobbyist. Hobbyists are good for the network, and good for general adoption and uptake by the public. For what it's worth, for a while there I also ran a Tor relay via a small AWS instance at a loss, simply because I think the network has value.
I'm getting so sick of pre-orders and PCB diagrams on websites, the draw of hardware that was actually delivered was too strong!
Solid thread OP...
I'm in a similar situation. I overspent on a couple of USB Erupters that were being sold in my area in-hand, and am comfortably hashing away at a measly 660MH/s. I knew it would never be profitable, and I would barely make my money back on the hardware costs (a Belkin USB hub thrown in as well).
However, I'm interested in the BTC ecosystem and hardware, and wanted to have a try at getting everything set up as a hobbyist. Hobbyists are good for the network, and good for general adoption and uptake by the public. For what it's worth, for a while there I also ran a Tor relay via a small AWS instance at a loss, simply because I think the network has value.
I'm getting so sick of pre-orders and PCB diagrams on websites, the draw of hardware that was actually delivered was too strong!
Solid thread OP...
naysayers :O were there some of those? havent read through them all, tbh, its not all about profit, and most of it is just for the fun of it, but making some nice money on the side mining TRC to BTC is <3 (trc on average over 1 month is 20% more profitable, and up to 400+% iirc)
Prices are really dropping on Asic Miiner gear. I have just order a few more for .38 BTC. I am into more for the hobby. I am really temped to get a Blade with the new pricing I am seeing.
as fun as it is for a hobby, you know it would be nice if you made a profit
i suspect BTC price will keep rising after a short dip below 100, so even if we arent making profit now, all the btc we save up will be worth it when the prices go to 150+ 
For all the naysayers whining about how obviously unprofitable this set up is - don't forget that it's not all about profitability for many people.
I'm in a similar situation. I overspent on a couple of USB Erupters that were being sold in my area in-hand, and am comfortably hashing away at a measly 660MH/s. I knew it would never be profitable, and I would barely make my money back on the hardware costs (a Belkin USB hub thrown in as well).
However, I'm interested in the BTC ecosystem and hardware, and wanted to have a try at getting everything set up as a hobbyist. Hobbyists are good for the network, and good for general adoption and uptake by the public. For what it's worth, for a while there I also ran a Tor relay via a small AWS instance at a loss, simply because I think the network has value.
I'm getting so sick of pre-orders and PCB diagrams on websites, the draw of hardware that was actually delivered was too strong!
Solid thread OP...
I'm in a similar situation. I overspent on a couple of USB Erupters that were being sold in my area in-hand, and am comfortably hashing away at a measly 660MH/s. I knew it would never be profitable, and I would barely make my money back on the hardware costs (a Belkin USB hub thrown in as well).
However, I'm interested in the BTC ecosystem and hardware, and wanted to have a try at getting everything set up as a hobbyist. Hobbyists are good for the network, and good for general adoption and uptake by the public. For what it's worth, for a while there I also ran a Tor relay via a small AWS instance at a loss, simply because I think the network has value.
I'm getting so sick of pre-orders and PCB diagrams on websites, the draw of hardware that was actually delivered was too strong!
Solid thread OP...
naysayers :O were there some of those? havent read through them all, tbh, its not all about profit, and most of it is just for the fun of it, but making some nice money on the side mining TRC to BTC is <3 (trc on average over 1 month is 20% more profitable, and up to 400+% iirc)
Prices are really dropping on Asic Miiner gear. I have just order a few more for .38 BTC. I am into more for the hobby. I am really temped to get a Blade with the new pricing I am seeing.
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