[Announcement] Block Erupter USB - page 13.

radiumsoup

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Quote from: alibert on June 06, 2013, 12:07:39 PM

I also have a 7950, but mining on it makes no sense for me. 1 kW/h costs 0.27€ here in Germany, so at 350W*24h I have 8.4 kW/h ( = 2,268€ electricity per day).

For those of us in IndoChina or the majority of the English speaking world, he means €2.268 per day (just to help others avoid the shock of "you pay WHAT for electricity?!?!?" that I just had before reading it a second time)

Economics

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What FPGA/ASIC is used in the BlockErupter?

-E

alibert

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cgminer 3.1.1 on debian linux (armtel)

af_newbie

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Quote from: alibert on June 06, 2013, 12:50:53 AM

Quote from: stepkrav on June 05, 2013, 06:29:59 PM

what is your hw error rate? i get ~ 4,7 per hour

ICA0 | (5s):334.2M (avg):333.2Mh/s | A:8655 R:67 HW:118 U:4.3/m

Around 1%

Is that with cgminer or bfgminer? I get 12% with cgminer and about 5% with bfgminer

alibert

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I also have a 7950, but mining on it makes no sense for me. 1 kW/h costs 0.27€ here in Germany, so at 350W*24h I have 8.4 kW/h ( = 2.268€ electricity per day).

markyminer

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Quote from: alibert on June 06, 2013, 12:52:30 AM

Quote from: markyminer on June 05, 2013, 03:58:58 PM

Nope. Check the current facts, network hashrate and difficulty is rising since February at a rate of 30% a month minimum. Which means difficulty doubles every 3.3months (and BTC earned halves!).

Ran the figures out for 730 days (2 years) from today. In 2 years the block eruptor will mine 1.25 BTC!! So in year two you will dig out a whole 0.05 BTC all year.

In year three BTC earned will end up less than the $0.01 a day it costs to power this USB stick. Your best bet is the leave it running 24/7 for the next 12 months and hold the BTC earned until it hopefully rises to $185/BTC. Then you will break even and maybe make a profit. if not you basically paid way way to high $/G/H to be an early ASIC adaoptor.

So, what do you do in BT-talk then? Can't be GPU mining. FPGA miner?

Why can't I be a GPU miner? Any AMD 7950 (the most efficient GPU miner on hash vs power vs cost) who started from Jan to March 2013 or before has already made their ROI and now enjoys slowly declining net profits but with a saleable asset still worth 70% of the purchase price on ebay. Anyone who started April will make a ROI before power costs overtake BTC earned daily. A 7950 still earns over $1 profit a day on 15.6m difficulty becaus it can hash 500m/h easily.

Personally i've only mined BTC directly for about 3 weeks in total including 5 days last week. It's far more profitable to mine LTC with a GPU and exchange for BTC on BTC-e. Mining LTC earns $1.75 a day profit today.

I expect GPU mining of BTC to be loss making on any GPU by August, and maybe LTC too unless LTC jumps in price a lot! Still buy then should have my 21 g/h of BFL 7gh miners that cost $1200 going. And this will make profit long long afer the block eruptor has been taken offline.

M

alibert

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Quote from: markyminer on June 05, 2013, 03:58:58 PM

Nope. Check the current facts, network hashrate and difficulty is rising since February at a rate of 30% a month minimum. Which means difficulty doubles every 3.3months (and BTC earned halves!).

Ran the figures out for 730 days (2 years) from today. In 2 years the block eruptor will mine 1.25 BTC!! So in year two you will dig out a whole 0.05 BTC all year.

In year three BTC earned will end up less than the $0.01 a day it costs to power this USB stick. Your best bet is the leave it running 24/7 for the next 12 months and hold the BTC earned until it hopefully rises to $185/BTC. Then you will break even and maybe make a profit. if not you basically paid way way to high $/G/H to be an early ASIC adaoptor.

So, what do you do in BT-talk then? Can't be GPU mining. FPGA miner?

alibert

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Quote from: stepkrav on June 05, 2013, 06:29:59 PM

what is your hw error rate? i get ~ 4,7 per hour

ICA0 | (5s):334.2M (avg):333.2Mh/s | A:8655 R:67 HW:118 U:4.3/m

Around 1%

GuiltySpark343

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Quote from: stepkrav on June 05, 2013, 06:29:59 PM

what is your hw error rate? i get ~ 4,7 per hour

About the same.

doubledave

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From my own personal experience:
7 port USB hub D-Link DUB-H7 worked just fine for me powering simultaneously not only 4 USB ASICminer Block Erupters but also the raspberry pi. It has a 3A power supply and 2 1A USB charging output ports.
I'm not sure how many more than 4 block erupters it can handle; I assume by its 3A power supply it can handle a maximum of 6.

stepkrav

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what is your hw error rate? i get ~ 4,7 per hour

dnaleor

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Want privacy? Use Monero!

Quote from: bigbeninlondon on June 05, 2013, 04:00:51 PM

Quote from: ?? on ??

At 1% it's probably an unlocked account, or his bank is even worse than the average bank!

They can be resold but it will certainly not be at that price.

Look, I bought one, but let's be real.

These bitches are selling @ $450 right now on eBay. I bet they'll stay that way until Avalon's chips are released.

indeed. Than I'll buy one for the lolz. I want one because they have collectable value, but would never pay >100$ for them

turtle83

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Supersonic

Quote from: iCEBREAKER on June 05, 2013, 04:46:23 PM

Quote from: bigbeninlondon on June 05, 2013, 04:00:51 PM

These bitches are selling @ $450 right now on eBay. I bet they'll stay that way until Avalon's chips are released.

And yet, we'll still hear economic illiterates claiming they are "overpriced." Despite the market (loudly and firmly) saying otherwise, these buffoons believe their special little cheapskate beggar opinions truly outweigh the collective decision of all the actual buyers and sellers in an unprecedentedly free and low friction economy. Roll Eyes

I am an economic illiterate and even i know that the price of something is the price market is willing to pay for it. People complaining here are just butthurt cause its not the price they are willing to pay.

iCEBREAKER

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Crypto is the separation of Power and State.

Quote from: bigbeninlondon on June 05, 2013, 04:00:51 PM

These bitches are selling @ $450 right now on eBay. I bet they'll stay that way until Avalon's chips are released.

And yet, we'll still hear economic illiterates claiming they are "overpriced." Despite the market (loudly and firmly) saying otherwise, these buffoons believe their special little cheapskate beggar opinions truly outweigh the collective decision of all the actual buyers and sellers in an unprecedentedly free and low friction economy. Roll Eyes

bigbeninlondon

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Quote from: ?? on ??

At 1% it's probably an unlocked account, or his bank is even worse than the average bank!

They can be resold but it will certainly not be at that price.

Look, I bought one, but let's be real.

These bitches are selling @ $450 right now on eBay. I bet they'll stay that way until Avalon's chips are released.

markyminer

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Activity: 532

Merit: 500

Quote from: alibert on June 05, 2013, 02:51:46 PM

That is 2.4 BTC in 24 months, in other words 20%! Thats great! I get 1% at my bank! Loving it!!!

Nope. Check the current facts, network hashrate and difficulty is rising since February at a rate of 30% a month minimum. Which means difficulty doubles every 3.3months (and BTC earned halves!).

Ran the figures out for 730 days (2 years) from today. In 2 years the block eruptor will mine 1.25 BTC!! So in year two you will dig out a whole 0.05 BTC all year.

In year three BTC earned will end up less than the $0.01 a day it costs to power this USB stick. Your best bet is the leave it running 24/7 for the next 12 months and hold the BTC earned until it hopefully rises to $185/BTC. Then you will break even and maybe make a profit. if not you basically paid way way to high $/G/H to be an early ASIC adaoptor.

Good luck.

M

bigbeninlondon

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Quote from: ?? on ??

Quote from: alibert on June 05, 2013, 02:51:46 PM

That is 2.4 BTC in 24 months

No, because difficulty will continue to increase.

Quote

in other words 20%! Thats great! I get 1% at my bank! Loving it!!!

Except with the bank you do not have your funds blocked for years ; they are there.

That depends on the investment. CDs lock in your funds for years.

Also, the erupters can be resold for a time, and at a gain too.

abracadabra

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Quote from: alibert on June 05, 2013, 02:51:46 PM

That is 2.4 BTC in 24 months, in other words 20%! Thats great! I get 1% at my bank! Loving it!!!

This misunderstanding of how much btc a piece of hardware will generate over a "long" (ie. more than a few months) time is probably the biggest reason people are buying hardware like this. Good luck getting 2.4 BTC in 24 years.

alibert

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That is 2.4 BTC in 24 months, in other words 20%! Thats great! I get 1% at my bank! Loving it!!!

markyminer

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Quote from: markyminer on June 02, 2013, 02:58:04 PM

OMG .Fools and their money! When this was announced difficultly was under 10m and network hashrate under 80t/h. Now you've got them it's 12m (+20%) and network hashrate is 100t/h+ . In under 3 days difficulty will hit 14.4m. So thats a 44% increase in diffuclty in 5 weeks, around the 30% + a month I predicted.

So lets forecast from there shall we! Starting @ 0.0104 BTC and $1.27 profit a day for the first 10 days. 1 month profit $38. 3 month profit $90. 1 year profit $155!

you will never make a ROI.

To big a gamble to stake way over $12k on. Good luck though, I admire your balls, and I thought I was risky putting $900 into 3 x BFL 5 g/h miners (15G/H) to arrive this side of Xmas.

M

Ouch. difficulty just jumped from 12m to a whopping 15.6m. That is a huge jump obviously catching up to nework hashrate jump to 113 T/H. just run the numbers again and from today the block eruptor is only making 0.00966 btc a day and forecast to only make a total 1.2 btc in 1 years time!

Ouch. (again).

https://bitclockers.com/calc

M

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