Topic: Block Erupter USB - ROI still possible - page 2. (Read 4121 times)
If you could get one for BTC0.005 you will get ROI.
I just resold my 3 usb erupters for $20 each with local pickup from craigslist. Mined with them for about 3 months so even though I did not ROI I did not take a huge loss.
You should not include an exchange rate increase in your profit calculations. If you pay 0.04BTC (or the equivalent in another currency) for a device that will only produce 0.01BTC (after operating costs) in its lifetime, then it is not profitable. If you want to bet on bitcoins increasing in value over other currencies, then just buy bitcoins. This assumes your only motivation is profit.
I was going to write a bunch of clever calculations but you are right. It is actually more sensible to just exchange the $15 to 0.03 btc.
But if you really wanted to make a profit with a mining device of some kind, how would you be able to gauge the performance? Like "price per ghash per watt < x"? Did anyone make an online calculator for that?
-Michael
Good luck, 300mh/s has the chance of getting a block in about 231 years and 346 days. Divide that by 8 and that's 1 year and 142 days.
That's why he views it as a lottery... could happen.
I hit a block finding share on my GPU a few months ago before I got into running asics, it can certainly happen
Course I was on a pool, but I just consider it paying back for all those pool earnings in years past before I ever found a block myself. 
Let's say the unit produces the promised 0.00033 btc/day
I love block erupter - I'll go to the post office tomorrow to get 8 of them. However, I don't do my calculation that way you do. I am going for the lottery style of mining. That is, I am not going to join a pool. But my erupter can get the lucky lottery ticket and win 25BTC in one second - maybe. So I'll run it in the winter (I have electric heating so this makes it free to run) and when it hits I'll buy caviar!! Whoo Hooo!Good luck, 300mh/s has the chance of getting a block in about 231 years and 346 days. Divide that by 8 and that's 1 year and 142 days.
Hello all,
Many people will say that buying a block erupter is a bad idea because at the rate the network difficulty is rising, they will never produce enough bitcoints to break even.
I had an opportunity to discuss this with a friend today, and the fact is that you can actually still make money with a low yield device like a block erupter, so long as you pay for it in some form of fiat currency. This is true because of the rise in value of bitcoin against these currencies - a trend which is likely to continue.
For example, take a place like this (randomly picked, no affiliation). Buy a block erupter here for $15 and put it to work today.
According to the profit calculator at bitcoinx, the unit will produce 0.00033 btc/day at the current difficulty level. At $326/btc that's 0.10758 per day, which gives a ROI of 139 days. But, some say, difficulty increases will make the unit unable to ever break even.
Let's say the unit produces the promised 0.00033 btc/day for just one month. The total sum produced would then be 0,0099, or roughly 0.01 BTC. You paid $15 for it, so if the BTC/USD rate just swings up to $1500 you have in fact broken even. These are super conservative numbers, it is realistic to assume the unit will produce 0,03 if you let it run for a year I think. It is also likely that you will be able to buy them for $10 rather than $15. With these numbers the BTC/USD rate in one year will only have to be 334, which is pretty much where it already is (my guess is that in one year, BTC/USD will be close to $1000).
So, as long as you buy units with fiat currency, it should still be possible to not just break even but make a healthy profit with lowly block erupters.
What do you think?
-Michael
Many people will say that buying a block erupter is a bad idea because at the rate the network difficulty is rising, they will never produce enough bitcoints to break even.
I had an opportunity to discuss this with a friend today, and the fact is that you can actually still make money with a low yield device like a block erupter, so long as you pay for it in some form of fiat currency. This is true because of the rise in value of bitcoin against these currencies - a trend which is likely to continue.
For example, take a place like this (randomly picked, no affiliation). Buy a block erupter here for $15 and put it to work today.
According to the profit calculator at bitcoinx, the unit will produce 0.00033 btc/day at the current difficulty level. At $326/btc that's 0.10758 per day, which gives a ROI of 139 days. But, some say, difficulty increases will make the unit unable to ever break even.
Let's say the unit produces the promised 0.00033 btc/day for just one month. The total sum produced would then be 0,0099, or roughly 0.01 BTC. You paid $15 for it, so if the BTC/USD rate just swings up to $1500 you have in fact broken even. These are super conservative numbers, it is realistic to assume the unit will produce 0,03 if you let it run for a year I think. It is also likely that you will be able to buy them for $10 rather than $15. With these numbers the BTC/USD rate in one year will only have to be 334, which is pretty much where it already is (my guess is that in one year, BTC/USD will be close to $1000).
So, as long as you buy units with fiat currency, it should still be possible to not just break even but make a healthy profit with lowly block erupters.
What do you think?
-Michael
You should not include an exchange rate increase in your profit calculations. If you pay 0.04BTC (or the equivalent in another currency) for a device that will only produce 0.01BTC (after operating costs) in its lifetime, then it is not profitable. If you want to bet on bitcoins increasing in value over other currencies, then just buy bitcoins. This assumes your only motivation is profit.
Let's say the unit produces the promised 0.00033 btc/day
I love block erupter - I'll go to the post office tomorrow to get 8 of them. However, I don't do my calculation that way you do. I am going for the lottery style of mining. That is, I am not going to join a pool. But my erupter can get the lucky lottery ticket and win 25BTC in one second - maybe. So I'll run it in the winter (I have electric heating so this makes it free to run) and when it hits I'll buy caviar!! Whoo Hooo!
Hello all,
Many people will say that buying a block erupter is a bad idea because at the rate the network difficulty is rising, they will never produce enough bitcoints to break even.
I had an opportunity to discuss this with a friend today, and the fact is that you can actually still make money with a low yield device like a block erupter, so long as you pay for it in some form of fiat currency. This is true because of the rise in value of bitcoin against these currencies - a trend which is likely to continue.
For example, take a place like this (randomly picked, no affiliation). Buy a block erupter here for $15 and put it to work today.
According to the profit calculator at bitcoinx, the unit will produce 0.00033 btc/day at the current difficulty level. At $326/btc that's 0.10758 per day, which gives a ROI of 139 days. But, some say, difficulty increases will make the unit unable to ever break even.
Let's say the unit produces the promised 0.00033 btc/day for just one month. The total sum produced would then be 0,0099, or roughly 0.01 BTC. You paid $15 for it, so if the BTC/USD rate just swings up to $1500 you have in fact broken even. These are super conservative numbers, it is realistic to assume the unit will produce 0,03 if you let it run for a year I think. It is also likely that you will be able to buy them for $10 rather than $15. With these numbers the BTC/USD rate in one year will only have to be 334, which is pretty much where it already is (my guess is that in one year, BTC/USD will be close to $1000).
So, as long as you buy units with fiat currency, it should still be possible to not just break even but make a healthy profit with lowly block erupters.
What do you think?
-Michael
Many people will say that buying a block erupter is a bad idea because at the rate the network difficulty is rising, they will never produce enough bitcoints to break even.
I had an opportunity to discuss this with a friend today, and the fact is that you can actually still make money with a low yield device like a block erupter, so long as you pay for it in some form of fiat currency. This is true because of the rise in value of bitcoin against these currencies - a trend which is likely to continue.
For example, take a place like this (randomly picked, no affiliation). Buy a block erupter here for $15 and put it to work today.
According to the profit calculator at bitcoinx, the unit will produce 0.00033 btc/day at the current difficulty level. At $326/btc that's 0.10758 per day, which gives a ROI of 139 days. But, some say, difficulty increases will make the unit unable to ever break even.
Let's say the unit produces the promised 0.00033 btc/day for just one month. The total sum produced would then be 0,0099, or roughly 0.01 BTC. You paid $15 for it, so if the BTC/USD rate just swings up to $1500 you have in fact broken even. These are super conservative numbers, it is realistic to assume the unit will produce 0,03 if you let it run for a year I think. It is also likely that you will be able to buy them for $10 rather than $15. With these numbers the BTC/USD rate in one year will only have to be 334, which is pretty much where it already is (my guess is that in one year, BTC/USD will be close to $1000).
So, as long as you buy units with fiat currency, it should still be possible to not just break even but make a healthy profit with lowly block erupters.
What do you think?
-Michael
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