Well, we all can calculate what will happen so there's no need to toss your money at realizing it (?).
But if you like to know how it feels to run 180Ghs, take a shot at it.
I've been tempted to toss some cash at this medium sized miner, but refrained from it (I'd have to find a greater fool to resell it to in order to prevent a net loss and that's just not my style). Based on their prices, they're negative ROI as well, just not as bad as the USB devices or other smaller miners.
And always remember, there's a whole industry to capitalize on that "crazy itch" (and these guys calculate every Penny/Satoshi with a sharp pencil to profit).
Topic: A case study in entry-level mining - page 6. (Read 53570 times)
Should've at least went down swinging with some Antminer S1s....
Call me crazy, but maybe this is exactly what I should do! If I were to sell my Red/Blue Fury ASICs, I would have enough for one of these. It would be my fifth hardware iteration.
I know that there's little chance of making any sort of profit, but even after nine months I'm still enjoying this as a hobby and an educational exercise. The money isn't what's important to me. It's the knowledge and experience.
So, who thinks I should buy an Antminer S1? If enough people are interested in seeing what happens, I'll do it!
Sad story, but that's entry level mining = losing money...
Far less than a year and already lost 12BTC, the remaining ~1BTC will get you absolutely nowhere.
In another 6 months and another hardware regeneration cycle, the balance will be much closer to zero, with a set of nearly useless hardware in the poor guy's possession.
That original 13BTC was all you ever needed & wanted (but I understand the hobbyist motives of mining, I still do it for myself with some 13GH/s, although they'll go on sale next week when I quit mining)
Far less than a year and already lost 12BTC, the remaining ~1BTC will get you absolutely nowhere.
In another 6 months and another hardware regeneration cycle, the balance will be much closer to zero, with a set of nearly useless hardware in the poor guy's possession.
That original 13BTC was all you ever needed & wanted (but I understand the hobbyist motives of mining, I still do it for myself with some 13GH/s, although they'll go on sale next week when I quit mining)
This. 12 BTC down the drain makes me sad for the OP.
Should've at least went down swinging with some Antminer S1s....
Sad story, but that's entry level mining = losing money...
Far less than a year and already lost 12BTC, the remaining ~1BTC will get you absolutely nowhere.
In another 6 months and another hardware regeneration cycle, the balance will be much closer to zero, with a set of nearly useless hardware in the poor guy's possession.
That original 13BTC was all you ever needed & wanted (but I understand the hobbyist motives of mining, I still do it for myself with some 13GH/s, although they'll go on sale next week when I quit mining)
Far less than a year and already lost 12BTC, the remaining ~1BTC will get you absolutely nowhere.
In another 6 months and another hardware regeneration cycle, the balance will be much closer to zero, with a set of nearly useless hardware in the poor guy's possession.
That original 13BTC was all you ever needed & wanted (but I understand the hobbyist motives of mining, I still do it for myself with some 13GH/s, although they'll go on sale next week when I quit mining)
Thanks for posting this. I'm doing something similar. I got my Pi yesterday and getting a few more components this week. Just waiting for my BTC to clear (hopefully by tomorrow) before buying some USB ASICs. I don't know if I should wait for Antminer U2 to become available.
Solved a block!
http://ozco.in/content/hall-fame-blocks-found-bitcoin (search for LogicalUnit)
Looks like I solved a block for this pool. Very cool milestone.
http://ozco.in/content/hall-fame-blocks-found-bitcoin (search for LogicalUnit)
Looks like I solved a block for this pool. Very cool milestone.
Just build a time machine instead, it will be easier.
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Now, I have signed up to btcguild. It's a large pool, and we shall see how reliable it is.
BTCguild is very good and has been for a while, good features online and reliableI agree. It's been reliable and stable for me. I can recommend it.
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Now, I have signed up to btcguild. It's a large pool, and we shall see how reliable it is.
BTCguild is very good and has been for a while, good features online and reliable 
Even More Furious
Five Red Fury ASICs just arrived in the post, and are up and running. No shenanigans with MinePeon -- I just plugged in a second DUB-H7 hub and rebooted. The 2.2 to 2.6 GH/s rating is a little generous. Realistically, you will get 2.0 to 2.4 GH/s out of each device. So now I am mining with 5 Red Fury and 3 Blue Fury ASICs at 17.6GH/s (my speed prediction was spot on). Total expenditure for this latest upgrade was 0.52 BTC
The only apparent difference between Red and Blue Fury units I can see is that the red ones have a bigger heatsink. This might improve performance, but because they both show up in MinePeon as "BF1" I can't know for sure.
It's also worth mentioning that I added a plastic Pi Tin to my RPi, and stability seems to have improved!
I will update the first post.
Five Red Fury ASICs just arrived in the post, and are up and running. No shenanigans with MinePeon -- I just plugged in a second DUB-H7 hub and rebooted. The 2.2 to 2.6 GH/s rating is a little generous. Realistically, you will get 2.0 to 2.4 GH/s out of each device. So now I am mining with 5 Red Fury and 3 Blue Fury ASICs at 17.6GH/s (my speed prediction was spot on). Total expenditure for this latest upgrade was 0.52 BTC
The only apparent difference between Red and Blue Fury units I can see is that the red ones have a bigger heatsink. This might improve performance, but because they both show up in MinePeon as "BF1" I can't know for sure.
It's also worth mentioning that I added a plastic Pi Tin to my RPi, and stability seems to have improved!
I will update the first post.
Yeah, Pools make a big difference. I did Deepbit...I know they are terrible now. Slush is ok but can have some long blocks...However it usually ends up giving me the highest BTC payout after a week. BTCGuild is pretty good and a steady payout.. I like their charts and features. Seems I get the lowest with Elgiuis. These are after a week on each and swapping back and forth.
Pool Discussion
It's worth talking about choice of mining pool. Initially, I didn't think that choice of pool made much difference -- oh how wrong I was.
Firstly I chose eclipsemc. This is a medium-sized pool, but has been under heavy cyber-attack, and is quite unreliable. Lots of downtime.
Next I chose an Australian pool ozco.in. This is a small pool, and it can take weeks to solve a block. This, combined with a minimum payout threshold has left my earnings stranded.
Then I used p2pool, which as we have discussed in another thread, is not good at all for miners with my level of variance.
Now, I have signed up to btcguild. It's a large pool, and we shall see how reliable it is.
I know that I haven't gone into much technical detail with this post, and there are lots of theoretical scenarios that could occur. I'm just reporting on my experience with each pool I have used for the benefit of others.
It's worth talking about choice of mining pool. Initially, I didn't think that choice of pool made much difference -- oh how wrong I was.
Firstly I chose eclipsemc. This is a medium-sized pool, but has been under heavy cyber-attack, and is quite unreliable. Lots of downtime.
Next I chose an Australian pool ozco.in. This is a small pool, and it can take weeks to solve a block. This, combined with a minimum payout threshold has left my earnings stranded.
Then I used p2pool, which as we have discussed in another thread, is not good at all for miners with my level of variance.
Now, I have signed up to btcguild. It's a large pool, and we shall see how reliable it is.
I know that I haven't gone into much technical detail with this post, and there are lots of theoretical scenarios that could occur. I'm just reporting on my experience with each pool I have used for the benefit of others.
Against my better judgment. . .
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
Could have spent less at .295 BTC to do a hosted Group Buy of 1 share of Antminer/scrypt rig at 18 GH/s and 18 kH/s:
https://bitcointalksearch.org/topic/sold-out-ninja-group-buy-4-30-hosted-ants-7-290x-0300-3btc-434311
Against my better judgment. . .
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
You could have gotten an Asic Cube for .39BTC they do 38ghs.
https://bitcointalksearch.org/topic/closed-batch-43-34-39-btc-per-asicminer-cube-30-38ghs-349787
Against my better judgment. . .
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
You could pencil-mod them. I have 10 Red Fury's and with pencil-mod they run 2.8-3.1 gh/s.
Against my better judgment. . .
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
Just spent 0.5 BTC on another 5 Red Fury ASICs. With my current 3, this should give me about 17.6 GH/s total.
LogicalUnit, what is your current GH/s? I'm considering a 100 GH/s unit for now and possibly the BFL 600 GH/s in the short future. April / May looks like a huge drop off in profitability for everyone - regardless of your setup - big or small, it seems difficulty is driving profitability way down.
You should buy Ants
You would have tripled your initial investment from just holding the coin and selling it now.
As it stands, you are still to break even.
As it stands, you are still to break even.
LogicalUnit, what is your current GH/s? I'm considering a 100 GH/s unit for now and possibly the BFL 600 GH/s in the short future. April / May looks like a huge drop off in profitability for everyone - regardless of your setup - big or small, it seems difficulty is driving profitability way down.
Why BFL?
and why BFL pre-orders lol?
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