Lesson: don't spend bitcoins on mining hardware. Ever.
Topic: A case study in entry-level mining - page 9. (Read 53578 times)
Anyone thinking of investing ANY amount of money into buying more BTC mining equipment needs to just STOP. It is no longer profitable. You will lose money!
And if you are so dead set on giving away money, PM me for my PayPal address, at least with me your money will go to a good cause!
And if you are so dead set on giving away money, PM me for my PayPal address, at least with me your money will go to a good cause!
why should they? who gives a shit if they lose money, id rather waste thousands on a shitty investment than give a single dollar to an asshat like you
Anyone thinking of investing ANY amount of money into buying more BTC mining equipment needs to just STOP. It is no longer profitable. You will lose money!
And if you are so dead set on giving away money, PM me for my PayPal address, at least with me your money will go to a good cause!
And if you are so dead set on giving away money, PM me for my PayPal address, at least with me your money will go to a good cause!
I was thinking along the same lines. Buying one or tow RedFurys a month to keep up with the diff increases. I currently have 12 BE's for about 4gh/hs. After getting 4 of the RedFury's you might be able to buy one per month with your generated BTC. Still no ROI, but it would slow down the bleeding. the However there wont work with Cgminer, so you cant use MinePeon until Cgminer is updated. I am also considering getting a used Blade. I would rather have 4 Redfurys, as it would make for a much cleaner setup and not reqire a external PSU.
How's your profitability?
Not great. I'm making about 0.01 coins per day at 3,340MH/s (10 Block Erupters) with current difficulty. However, I have enough coins saved up to buy three Blue Fury ASICs that are rated to mine at up to 2,700MH/s each. These are supposed to ship in October.
At the time of writing, difficulty is going up exponentially. I have no idea if/when it will peak. I can either watch my income peter out, or I can reinvest and try to keep up with difficulty.
From an investment perspective, it's pretty much lose-lose.
I'm now doing this for pleasure rather than profit. So, more hardware it is!! I'll place an order to buy the new ASICs as soon as I figure out how to sign a message in Armory.
Thanks for sharing i found it very interesting
How's your profitability?
Current setup has been running for a while, and there are just two issues:
1) The http stats page is reporting one tenth of accepted shares because cgminer 3.4.2 sets the diff to 10 automatically in my setup. It needs to stop doing this division to give accurate HW rates.
2) The cgminerstats script terminates after a few hours. I can restart it, but there must be a memory leak or something in the code.
1) The http stats page is reporting one tenth of accepted shares because cgminer 3.4.2 sets the diff to 10 automatically in my setup. It needs to stop doing this division to give accurate HW rates.
2) The cgminerstats script terminates after a few hours. I can restart it, but there must be a memory leak or something in the code.
LogicalUnit....
Dude. I'm going to give you one piece of advice to help your future profitability and you can either take it or not.
I know the exciting factor of mining is neat, but profit is always more important than excitement.
Dude. I'm going to give you one piece of advice to help your future profitability and you can either take it or not.
I know the exciting factor of mining is neat, but profit is always more important than excitement.
Wow, if everybody thought as you did, slavery would still be around.
You are a seriously messed up human being. I'm sorry I'm a member of a species that produced you as a genetic byproduct.
I think it's cool and neat and gee-whiz to have a bunch of GPUs pimping LiteCoin for me in my spare bedroom, but if I thought there was no profit to be made, I'd have a lot of stuff on eBay right now!
Hobby Schmobby, the almighty DOLLAR beats all! Except for Chuck Norris.
Hobby Schmobby, the almighty DOLLAR beats all! Except for Chuck Norris.
Ok, let me rephrase it:
For ME, making a huge profit supersedes almost everything else.
Almost. 99.9% of the time.
For ME, making a huge profit supersedes almost everything else.
Almost. 99.9% of the time.
Obviously that does not apply to this thread. Think Hobby.
Ok, let me rephrase it:
For ME, making a huge profit supersedes almost everything else.
Almost. 99.9% of the time.
For ME, making a huge profit supersedes almost everything else.
Almost. 99.9% of the time.
I know the exciting factor of mining is neat, but profit is always more important than excitement.
You seriously believe that you can talk for everyone on the planet? Just, wow..
Great write up. That LCDsysinfo screen was just what I was wanting for a different project!
LogicalUnit....
Dude. I'm going to give you one piece of advice to help your future profitability and you can either take it or not.
I know the exciting factor of mining is neat, but profit is always more important than excitement.
The advice:
Sell all your erupters and asics and anything related to mining BTC, find some naive noob on eBay who is looking to blindly throw money at you without doing proper research.
That is the ONLY way you will ever make a profit or even come close to getting your money back out of those low end ASICs.
The difficulty will only go up. The profitability per Ghash will only go down. BTC is never going to surge over $300 per BTC like some dreamers have claimed.
Your only other option is to do as I have, and assemble a nice GPU farm as cheaply as possible and get going on Scrypt coins, like Litecoin.
I leave the choice to you. But the path you are on now is a dead end loser. Guaranteed, unless you enjoy throwing money away.
Dude. I'm going to give you one piece of advice to help your future profitability and you can either take it or not.
I know the exciting factor of mining is neat, but profit is always more important than excitement.
The advice:
Sell all your erupters and asics and anything related to mining BTC, find some naive noob on eBay who is looking to blindly throw money at you without doing proper research.
That is the ONLY way you will ever make a profit or even come close to getting your money back out of those low end ASICs.
The difficulty will only go up. The profitability per Ghash will only go down. BTC is never going to surge over $300 per BTC like some dreamers have claimed.
Your only other option is to do as I have, and assemble a nice GPU farm as cheaply as possible and get going on Scrypt coins, like Litecoin.
I leave the choice to you. But the path you are on now is a dead end loser. Guaranteed, unless you enjoy throwing money away.
After many more issues with MinePeon 0.2.3a, I have downgraded to 0.2.2. I used the previous method to fix the system clock, then updated cgminer and http with git pull as described here: https://bitcointalk.org/index.php?topic=290511.new#new
I also used the instructions here to set up my LCDstats screen: https://github.com/cardcomm/cgminerLCDStats/blob/master/MinePeon%20Install.md
The current configuration seems stable.
I also used the instructions here to set up my LCDstats screen: https://github.com/cardcomm/cgminerLCDStats/blob/master/MinePeon%20Install.md
The current configuration seems stable.
I have been experiencing significant issues with MinePeon 0.2.3a restarting, failing to report averages, displaying graphs, and other instabilities. After some investigation, I believe that the network time protocol daemon has issues over a wifi link. Here's the procedure to fix:
ssh into the RPi and enter your timezone:
Then
When it prompts you to remove openntpd, select Yes.
Next use a text editor in administrator mode to edit your ntp.conf
vim is a subject unto itself, but the idea is to add your local ntp servers. Here are mine for Australia
Finally start the ntp daemon
ssh into the RPi and enter your timezone:
Code:
timedatectl timezone list
Code:
sudo timedatectl set-timezone Australia/Sydney
Then
Code:
sudo pacman -S ntp
When it prompts you to remove openntpd, select Yes.
Next use a text editor in administrator mode to edit your ntp.conf
Code:
sudo vim /etc/ntp.conf
vim is a subject unto itself, but the idea is to add your local ntp servers. Here are mine for Australia
Code:
server 0.au.pool.ntp.org iburst
server 1.au.pool.ntp.org iburst
server 2.au.pool.ntp.org iburst
server 3.au.pool.ntp.org iburst
server 1.au.pool.ntp.org iburst
server 2.au.pool.ntp.org iburst
server 3.au.pool.ntp.org iburst
Finally start the ntp daemon
Code:
sudo systemctl enable ntpd
sudo systemctl start ntpd
sudo systemctl start ntpd
I've reading your post from the very beginning. Very inspiring for all those who want to get into crypto mining.
Good Luck!
Good Luck!
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