Block erupters absolutely waste of money now? - page 3.

Sniperdude

newbie

Activity: 56

Merit: 0

Quote from: Mondy on December 03, 2013, 10:58:32 PM

Mining is a waste of money now,
dont do it

that's not 100% true. If you mine an Alt coin like say beta coins or something easy and it takes off it might be worth it.

Right now I am mining Beta coins (BET) not worth too much but with one 333 Mhs erupter ive gotten about 5 in 1 day.

Mondy

member

Activity: 112

Merit: 10

Mining is a waste of money now,
dont do it

sssubito

newbie

Activity: 35

Merit: 0

2050??? No need to step so far into future. Who knows how the race goes on in 2014/2015?

Best case would be that some kind of saturation accurs and difficulty turns into linear growth but that's very optimistical. I agree it's sad that one needs quite a lot of GH/s for reasonable mining.

lif3

newbie

Activity: 37

Merit: 0

so in the future(2050), bitcoin mining will be a hobby for the rich? um...that will be a sad thing...

sssubito

newbie

Activity: 35

Merit: 0

If you have to pay for electricity forget GPU mining at current difficulty levels, except you do it for fun and don't care that you can't mine with profit.

Sniperdude

newbie

Activity: 56

Merit: 0

Quote from: jpesquire on December 03, 2013, 01:22:44 PM

I'm surprised they are that expensive unless folks are raising the prices as BTC value rises. I bought three for ~$25 each in Sep or Oct. Might want to keep searching.

Even at $25, breaking even seems hard at this point unless you park them on an alt coin that will rise relative to BTC someday, which is how I made back the cost and then some. My erupters just solo mine now hoping for a lottery win....

Im brand new this week looking into bitcoins and other alt coins. I have noticed that 2 months ago block erupters were going for 10-20$ USD but now that the price of bitcoins has gone up atleast 5 times the price of the erupters has gone up the same, but at the same time the difficulty has gone up the same.

From what I take out of this is unless you are farming at 100 Ghash/s with equipment you bought at bottom dollar you are not going to gain much. I think this week ive made .0002 BTC with one erupter and my GPU will probably spending 5$ in electricity.

sssubito

newbie

Activity: 35

Merit: 0

Absolutely unbelieveable how much most people are willing to pay for them on ebay. Math doesn't seem to be a primary skill of those buyers.

And it's even worse for those Bitfury sticks. I was looking for one as kind of more realistic mining toy until the big iron comes...

Greed blows minds away! Cheesy

pand70

sr. member

Activity: 476

Merit: 250

Quote from: Miner_2049er on December 03, 2013, 08:23:58 PM

Consider that there are multiple ways to make money (or lose it) on Bitcoins.

1) Buy & hold
2) BTC currency trading
3) Mine
4) Lease mining hardware/run a pool
5) Sell mining hardware

Actually only the first one is a valid reason to make money. The rest are for losing.

Itun

full member

Activity: 238

Merit: 100

Total waste of money don't buy it.

The difficulty is too high, so you'll mine practically nothing.

You'll get more money by buying btc now and selling it later.

Miner_2049er

newbie

Activity: 32

Merit: 0

Consider that there are multiple ways to make money (or lose it) on Bitcoins.

1) Buy & hold
2) BTC currency trading
3) Mine
4) Lease mining hardware/run a pool
5) Sell mining hardware
or
Scam newbies

wolfeen

newbie

Activity: 14

Merit: 0

For those who do not understand the process, of course,
means that most or all of the money spent,
function means you will win automatically.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: Miner_2049er on December 03, 2013, 05:34:58 PM

Worthless for mining, but invaluable for the education in Bitcoin mining that you will get.

Anyone who does not fully understand the mining process will definitely lose
most or all the money they spend on miners. And fully understanding the
mining process does not mean that you will automatically make money.

-Mark

Common , let's not use such great words for a piece of crap composed of a chip and 10 grams of Chinese plastic.

Miner_2049er

newbie

Activity: 32

Merit: 0

Worthless for mining, but invaluable for the education in Bitcoin mining that you will get.

Anyone who does not fully understand the mining process will definitely lose
most or all the money they spend on miners. And fully understanding the
mining process does not mean that you will automatically make money.

-Mark

lif3

newbie

Activity: 37

Merit: 0

am I just lucky? bought one at 13.99 a month ago on ebay...still working well

dustofdeath

member

Activity: 98

Merit: 10

and there is basically no way to get them at that price - postage fee alone costs that much or more.

They are so obsolete that you can make more money selling them as keychains -_-

sandrig

newbie

Activity: 49

Merit: 0

I wouldn't spend any more than $5 on a block erupter. You might be able to break even at that price, but once you factor in other expenses (usb hub, fan, power, etc.) it's going to be pretty difficult.

PenAndPaper

sr. member

Activity: 252

Merit: 250

I wonder how good they do with other sha 256 coins like ppcoin that worths around 6$ now

cobra2

newbie

Activity: 1

Merit: 0

I have bought 12 of these things over the past 5 months. I started with 6 @ ~$25/device back in July. Then buying another 2 every time I received a bitcoin. I don't really think they are worth the investment now. You would need to get them for around $5-$10 to be able to break even in a few months. Even @ $5, you'd need to invest $800 or more just to turn a good profit.

I got lucky. I hit a few coins then took those to btce and started trading. If it wasn't for the trades, I don't think that I would have turned a profit from the erupters.

tldr; toys good for nothing but altcoins now.

2RoyalSox

newbie

Activity: 20

Merit: 0

They are beginner's machines. To get you used to the software and process of mining.

jpesquire

newbie

Activity: 20

Merit: 0

Quote from: niothor on December 03, 2013, 01:34:57 PM

Block erupters are toys , or novelty , they were never meant to return hundred of $.

Agree. After a couple months, I had them paid off and one dinner for the family. No mortgage payments.

Topic: Block erupters absolutely waste of money now? - page 3. (Read 2382 times)