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Topic: Block Erupter USB suddenly more expensive? (Read 2286 times)

sr. member
Activity: 364
Merit: 250
January 14, 2014, 05:28:36 PM
#47
I am truly sorry about your lack of math skills maybe you can sue the school district?
BTC ain't likely to hit 10K while difficulty is this side of 10 billion... ergo by then they will be mining 14 cents a day, whoop de woo.
Bitcoin would have to go up past $120,000 tomorrow, on this difficulty, for a USB block eruptor to make $10 a day. I mean you cooooould be making $10 a day deferred 5 years if you like to think about it that way. But in half the world (Europe, parts of US) they're not even making electricity cost right now.
Who has the time to do math? Is it not obvious by my fascination with "10" that I am just generalizing? Nah, you've got to be the one twat who has to point out arguments that don't exist.

No need for a flame war here. @pontiacg5, you simply missed his point that it is more profitable to buy 0.01 BTC for $10 than to buy a BE for $10 because the BE is going to mine at most 0.006 BTC.

Never did I say that a BE is a good idea, just that the value of one is based on the exchange rate. If the exchange rate goes up while difficulty stays the same (as it did in nov.) then you get this thread, asking why.

So this twat comes along, quotes a post from two months ago, and says "noobs." It has nothing to do with noobs, and everything to do with the exchange rate.
legendary
Activity: 4466
Merit: 3391
January 14, 2014, 05:00:34 PM
#46
I am truly sorry about your lack of math skills maybe you can sue the school district?
BTC ain't likely to hit 10K while difficulty is this side of 10 billion... ergo by then they will be mining 14 cents a day, whoop de woo.
Bitcoin would have to go up past $120,000 tomorrow, on this difficulty, for a USB block eruptor to make $10 a day. I mean you cooooould be making $10 a day deferred 5 years if you like to think about it that way. But in half the world (Europe, parts of US) they're not even making electricity cost right now.
Who has the time to do math? Is it not obvious by my fascination with "10" that I am just generalizing? Nah, you've got to be the one twat who has to point out arguments that don't exist.

No need for a flame war here. @pontiacg5, you simply missed his point that it is more profitable to buy 0.01 BTC for $10 than to buy a BE for $10 because the BE is going to mine at most 0.006 BTC.
sr. member
Activity: 364
Merit: 250
January 14, 2014, 04:48:59 PM
#45
I am truly sorry about your lack of math skills maybe you can sue the school district?

BTC ain't likely to hit 10K while difficulty is this side of 10 billion... ergo by then they will be mining 14 cents a day, whoop de woo.

Bitcoin would have to go up past $120,000 tomorrow, on this difficulty, for a USB block eruptor to make $10 a day. I mean you cooooould be making $10 a day deferred 5 years if you like to think about it that way. But in half the world (Europe, parts of US) they're not even making electricity cost right now.

Who has the time to do math? Is it not obvious by my fascination with "10" that I am just generalizing? Nah, you've got to be the one twat who has to point out arguments that don't exist.

I'm done, go play your kid games elsewhere. If you don't understand the fact that mining hardware's value is partially derived from the exchange rate I can't help you.





full member
Activity: 224
Merit: 104
January 14, 2014, 04:48:15 PM
#44
What if someone found a way to get "free electricity" and they started mining like nuts? I wonder what the biggest "farm" is out there at 1 location that's mining BTC?  I bet i tcouldn't last for long, like at a big company, before the tech staff caught on, or the financial staff saw their electric bills spiked.
hero member
Activity: 518
Merit: 500
Hodl!
January 14, 2014, 04:40:00 PM
#43
I am truly sorry about your lack of math skills maybe you can sue the school district?

BTC ain't likely to hit 10K while difficulty is this side of 10 billion... ergo by then they will be mining 14 cents a day, whoop de woo.

Bitcoin would have to go up past $120,000 tomorrow, on this difficulty, for a USB block eruptor to make $10 a day. I mean you cooooould be making $10 a day deferred 5 years if you like to think about it that way. But in half the world (Europe, parts of US) they're not even making electricity cost right now.
sr. member
Activity: 364
Merit: 250
January 14, 2014, 04:30:08 PM
#42
Oh it's the invisible hand of the market.... puppeteered by noobs who can't use a calculator.

Reasonable ROI on mining equipment is 3 months from date of expected delivery, with highly inflating difficulty accounted for.

If we nailed the difficulty to 1.7 Billion right now, you'd make 0.0025 a month with a USB block eruptor, therefor in a situation of stable difficulty 0.0075 would be TOO MUCH TO PAY FOR IT. If you got one tomorrow you'd have a hard time getting 0.005 out of it ever in the real word ..

It is completely insane to pay more than $10 for one now, even if you think BTC will hit $50,000, use the $10 to buy 0.01 of a coin!

If, son, if. If bitcoin hits $10,000 those BE are no longer mining dust and thus are worth more. Nobody is going to be selling a block eruptor for $10 when it will mine $10 in a day after the exchange rate jump.

That is exactly what happened just a few weeks ago, the exchange rate jumped and those with mining hardware saw value added overnight!

Now, no, they aren't worth jack. That's why they are selling for less and less every day. Noobs are what keep the price high, not what set the price.

hero member
Activity: 518
Merit: 500
Hodl!
January 14, 2014, 04:21:34 PM
#41
Oh it's the invisible hand of the market.... puppeteered by noobs who can't use a calculator.

Reasonable ROI on mining equipment is 3 months from date of expected delivery, with highly inflating difficulty accounted for.

If we nailed the difficulty to 1.7 Billion right now, you'd make 0.0025 a month with a USB block eruptor, therefor in a situation of stable difficulty 0.0075 would be TOO MUCH TO PAY FOR IT. If you got one tomorrow you'd have a hard time getting 0.005 out of it ever in the real word ..

It is completely insane to pay more than $10 for one now, even if you think BTC will hit $50,000, use the $10 to buy 0.01 of a coin!
sr. member
Activity: 364
Merit: 250
January 14, 2014, 04:08:05 PM
#40
They were selling on amazon for $14 a week or two ago

Now they're $54?

Can anyone explain this?

Thanks

Picture


Sorry buddy, you are the Noob.

The market sets the cost of this stuff, then noobs run with it and make it unprofitable. If bitcoin goes to $10,000 tomorrow or the next month what do you think a USB block eruptor would cost?

The run from $200 to $1200 sent BE from $15 to $50. Difficulty increasing while price fell since then has made them decrease in value.

hero member
Activity: 518
Merit: 500
Hodl!
January 14, 2014, 04:01:57 PM
#39
They were selling on amazon for $14 a week or two ago

Now they're $54?

Can anyone explain this?

Thanks

hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
November 26, 2013, 03:41:07 PM
#37
Ok, stupidest auction ever:

http://www.ebay.com/itm/Butterfly-Labs-BFL-Jalapeno-Bitcoin-Miner-ASIC-Works-In-Kansas-City-/301027169857

Summary: Jalapeno for $640.

A jalapeno that BFL probably threw in the garbage. With a NO WARRANTY STAMPED ON THE TOP.

People are so far beyond crazy they have entered stupid-town.
newbie
Activity: 46
Merit: 0
November 26, 2013, 02:55:54 PM
#36
Every miner is UP! Just look at blades at amazon. I bought them for under $200 few weeks ago. Now - $500 ? That is just insane!!!!! You can get them cheaper at asic labs, maybe even buy KNC miner..

But can you get them the same week you order them? That's the trick...  Wink
newbie
Activity: 28
Merit: 0
November 26, 2013, 11:47:58 AM
#35
Every miner is UP! Just look at blades at amazon. I bought them for under $200 few weeks ago. Now - $500 ? That is just insane!!!!! You can get them cheaper at asic labs, maybe even buy KNC miner..
hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
November 25, 2013, 11:15:46 PM
#34
BTC up so erupters are up!
full member
Activity: 238
Merit: 100
November 25, 2013, 09:10:57 PM
#33
i have also seen couple of them on ebay for 10usd each selling in bulks of 5..was not more than 2 weeks ago..but haven't bought though:/

Yeah I saw that, too.

With the current price on btc, you'd have gotten your money back within a month if you bought each for $5.
member
Activity: 110
Merit: 10
November 25, 2013, 08:20:36 PM
#32
i have also seen couple of them on ebay for 10usd each selling in bulks of 5..was not more than 2 weeks ago..but haven't bought though:/
full member
Activity: 238
Merit: 100
November 25, 2013, 08:04:01 PM
#31
They are worthless now unless you get them for free or something.

It's just too hard to mine anything now.
newbie
Activity: 26
Merit: 0
November 25, 2013, 07:31:19 PM
#30
I don't think they are worth it anymore personally.
legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
November 25, 2013, 07:24:56 PM
#29
Not so fast. You paid about 0.25 BTC for the erupter. Subtract the 0.14 BTC it mined, and you so far have lost only 0.11 BTC ($90).

If he bought the erupter for $25, he is in profit indeed, but he missed even bigger profit if he just bought BTC instead.


That thinking is in error for a coupled system like bitcoin.

Do you understand why?

Answer: They're coupled: If everyone was buying bitcoin in Jan/Feb/Sept then prices would have screamed up just as they did in the last week. Difficulty would not have gone up, so mining would be far more profitable. That is because bitcoin price and difficulty are linked, you can't change one without the other.

So *never* feel bad about the choices you made or did not make in the past. It all brought you to here. I paid in money, I earned bitcoin which is suddenly worth "money", and the lack of new miners is keeping me in the "money". All linked together.

C
hero member
Activity: 784
Merit: 500
November 25, 2013, 06:51:56 PM
#28
However I did just take a look; I got it for $25 back when the difficulty was at 67m, it probably mined .14 bitcoin, with a max profit of $119. So 119-25=94 or so each, almost $200 profit.
So.................. Even though at the time it was the stupidest idea on the face of the earth to buy it, turns out it was a reasonable deal.

Not so fast. You paid about 0.25 BTC for the erupter. Subtract the 0.14 BTC it mined, and you so far have lost only 0.11 BTC ($90).


If he bought the erupter for $25, he is in profit indeed, but he missed even bigger profit if he just bought BTC instead.
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