Topic: Butterfly 50 GH Miner, no point ? (Read 3011 times)

Yeah, like you say, you risk "holding the bag" - your profits need to justify that risk. In the end, personally speaking, I am more interested in building up a nice BTC collection, but that's just me

Well no, I do a little of both, very low volume though. I sale hardware about once a month. I have been able to sell most all of it for more or equal to what it cost me, keeping the btc they mined. I have had some luck with timing selling at near highs and buying on the lows. To me it is a bit of a game and I realize that I can end up holding the bag as they say. Truth be told I probable would have made more money just buying and selling btc and not mining a bit of it, but what would be the fun on that.

That's completely off-topic. Please start your own thread with this stuff.

OFFTOPIC.

That is a good speech and sorry for not reading it thoroughly but BTC is not the "fair" money creation that people need, it is only a profit system, which doesn't address any of the greed or other negative energy issues that are present in society. It is already centralizing, and due to its direct trade to USD ensures, control passes on to the bankers.

And it doesn't matter they just create BTC duplicates, as long as it is connected to USD, and as long as you have averagely informed people ( like what I was before i started learning bout BTC ) the slavery system just lives on BTC and the likes are nothing more but the small piece of chocolate, the public will get, to ease their transition to digital only slavery system.

I suggested the FIXXCOIN approach.

Look for video on youtube on that ( if you can be bothered )

If you're looking for an immediately positive ROI in USD, then BTC mining is probably not going to make you very happy. Lots of us have crunched the numbers, and this is where the highly speculative nature of bitcoin mining comes in. By using current metrics, you will find most hardware to me a losing bet. Except for the KNC, as they have had great success with providing profitable machines for their customers. If you visit forum.kncminer.com you will find a thread of people willing to share their experiences, and quite a few are doing very well. But, people conduct their business differently and small decisions make a big impact down the line... so not everyone is profitable for various reasons.

KNC is the only mining product worth buying imho.

For myself, I've got a first batch Neptune on order because I am making the bet that the BTC I mine will explode in value over the next few years. I do NOT plan to sell all my BTC immediately to recover my investment, as the 13,000 USD it cost me was gambling money. So, I'm gambling with it! The real gamble comes in the waiting game. Nobody knows what the future holds for bitcoin. I am optimistic, and believe its value will eventually cap out in the hundreds of thousands of USD, or even as high as a million. The time it will take for that to happen is unknown, and many individuals will sell their bitcoin for peanuts to recover their investments so they can brag on message boards how they "reached positive ROI." These profits are trivial. I have no desire to make 5 grand, thats not a worthwhile return for me. I find the involvement in and survival of the bitcoin ecosystem to be the most valuable payout in the long run, and in the mean time if I am able to create a retirement for myself or wealth for my family that's icing on the cake.

What everyone involved in this game should understand is how much what we are doing now will affect the future of our civilization. If you change the way in which you qualify success to be beyond cashing a specific % ROI, and instead look at it in terms of what society will look like in 50 years then perhaps people will make better decisions and will help propel us forward toward a world of truly equal opportunity and a more even distribution of wealth.

Reassess how you will determine success. It should not be in USD. It should be in BTC.

Thanks !

Only place to get the ants is sushi's groupbuys: https://bitcointalksearch.org/topic/pre-ship-again-sold-out-group-buy-5-315-btc-bitmain-antminer-180gh-300-units-383486.

Antminer this antminer that.

Can someone post a fucking link where to buy that antminer ?

Preferably no group buy or other BS just plain old add to cart and ship to my place.

A "universe of morons on Ebay" - that's my phrase of the day. Very true though.

AntMiner is currently the best buy for GH/$ and quick delivery.  Check out Group Buy #5... shipping January 4th.

No. They won't. There is absolutely no end to human stupidity on Ebay, when someone will pay $200.

That's TWO HUNDRED DOLALRS

For a blown jalapeno.

Yes, they can be fixed. But swapping out the FTDI chip is *HARD*.

Morons. There is a universe of morons on Ebay.

C

OK, so you are basically a hardware reseller not miner. Fine. Those "ebay idiots" will run out soon, hope you aren't left holding any underpowered mining hardware when that happens

Once upon a time my 6.5 gh/s did something! Now I get 200k satoshis a day. Haha.

Gee, if I give that info out then everyone will buy the item in question, the price will scream up, and no one will earn anything.

However using one's little ole noggin and some thought, one can make 100% return bitcoin for bitcoin.

C

Exactly, I have been doing well by purchasing overpriced hardware mining for a bit with it and selling it on ebay for what I payed fro it or more, keeping the btc that was mined as well. I will admit some of it is timing and the other part is luck. The whole thing has been fun so far.

if you payed something $250 and sell it next day for $750  that is what called "Positive ROI right now" and hell of a earning!!!!
you don't need to be genius to calculate that with 8GH power he didn't ROI in one month back! he is far away from that!

"Positive ROI right now" - please explain more. You got your money back already?

For next 3-4 month 600 Gh/s no point,  

Diff rise 33% every 10 days !!!

Waited for ever to get my bfl got it about 1 month ago, a lowly jala. It has been mining at 8 gh and I could sell it on on ebay for more than I paid for it and have a positive roi right now. If I were smart I would have sold it when it arrived to some sucker for $750 on ebay and made double my money back, but I like mining. That said hell would have to freeze over before I made an other purchase with bfl.

You'll never get stats. How many people that make gigantic cock-ups want to share their experience?

That is what I was wondering, did everybody get the 5 GH devices from their orders of up to year ago ?

Those that did, how many got their money back and what level of profit they made ?

The more opinions, the truth cannot hide.

I agree, don't buy from BFL ... but people obviously still do for some reason. Wonder how many have made profits?

REPLIED to the thread with a new thread below :




https://bitcointalk.org/index.php?topic=385673.new#new

you really don't get it?
first thing forget about % increase becouse 30% on 1 Bil is not same as 30% of 2 ore 3 Billions. your assuption is wrong!
around 9PH is power in the world mining btc and we are around 1.2 Bil! so that means that we need 5 times more  power to reach 6 bill diff! 5 times more dude!!! that's 36PT more on top of this!!!
only newbies and dump people will buy from BFL! which one are you???
BitMine, Cointerra, Hashfast, and even Black Arrow all together can't deliver that amount of power till April!!!!! second half of 2014 yes but not in first half of 2014 and specially not till April!
I really cant find easiest way to explain you that you are wrong in many aspects!  

Yes, 6Billion within the next few months isn't so ridiculous. Look at the % increase month by month for the past 3-6 months. http://mining.thegenesisblock.com/ is assuming the network will double every 30 days, so that's what I'm basing my estimates off of. Taking into account the flood of hardware expected to come Feb-April of 2014 from BFL, BitMine, Cointerra, Hashfast, and Black Arrow, doubling the network every month doesn't seem unreasonable to me.

What's a good hardware to buy? Yes, those AntMiners seem pretty decent, but again you gotta wait till next month to get one. What hardware did I buy? I bought some BFL Monarchs on Black Friday. The exchange price was higher then, so I paid with fewer BTC. Combined with their 25% discount, I was buying Monarchs for 3.25BTC/each. Compared to those AntMiners, I'll wait another month or two for 3x the hashrate. But we'll see how that pans out.

Both mining and purchasing at $1K are risky. Everyone can judge for themselves which is riskier. But yeah, I vote for mining at the moment.

Mining isnt per definition profitable. Thats what people need to understand. If you want Bitcoins, buy them. They are pretty cheap at under $1k USD.

Leave the mining to the professionals and people who want to do their part to help secure the network.

DO not pay more than $10 to $15 a GH

Less if possible.

That eliminates all BFL devices.

Get an Antminer 180GH they are BTC3.15 right now

$12 a GH

Why buy a $35 a GH miner like BFL?

Is that 10 USD a day now? If so, that will be 1 USD a day in a few months.

Generally, no, 50 GH is nothing these days.

Nice one!
Can you please be so king and enlight me and tell me what miner he can buy now to earn anything?
So first ROI and then earn!!!
You didn't notice that all miners on the market right now are overpriced???
There is nothing worth of buying right now!
Best time to mine is now??? Well yes if you can get yorself a nice 500gh miner for let's say not more than $4000-$4500! 2Th in March even at 3.5-4 billions will earn you nice amount of btc!
6 billion you say? Ar you out of you fucking mind???
There is no companys that can deliver so much power in Januar and February to scyrocket diff so high!!!
You know you have stupid way of thinking and stupid ideas for a guy that have 600 and something posts here!

Remember that BFL has dropped their price for the 50GH/s Single, from 2500 to 1750. BitcoinX hasn't updated this yet.

Also, the size of your operation doesn't matter when it comes to break even. All that matters is price, hashrate, delivery date, and power usage. The difficulty and future earnings are largely out of your control. The BFL Singles can be delivered now, and have pretty decent power efficiency, miles ahead of those 35GH/s ASICMiner Cubes that seem to be selling like hot cakes.


You can successfully mine (and make a profit even!) with less than 1TH/s, so I don't know what you're talking about. I would say the majority of people here are running less than 1TH.

Those 2TH Black Arrow look pretty awesome, but they're scheduled for delivery in March of 2014, not February. And yes, who knows what the difficulty will be in 3-4 months, but the best time to mine is now, not when the difficulty is 6Billion.

I'm not saying BFL is the best buy around, but you need to look around, and look at all your options. What miner is the cheapest? What ones are overpriced? What ones hash at 5W/GH and which ones hash at 1W/GH? Is it being delivered now, or in 6 months? Weigh your options, and figure out which one you think you can make the most profit from, and jump on it.

Also, http://mining.thegenesisblock.com/ is your friend.

good morning detective Columbo!

forget about BFL, not worth it at all!!

well there is no peace of gear worth of buying right now. there is no 1TB miners available on the market unless you want to by 5 antminers or stuff like that.

your only option is to buy 2TH black arrow late February delivery miner.
just don't forget that with this wild diif jumps in about 3-4 months everything below 1TH will be worthless!

So can someone confirm what this has come to.....

Butterfly have a claimed instant delivery on a 50 GH device.

According to this calculator that is like 10 USD per day ...   ( http://www.bitcoinx.com/profit/ )

That means you will never break even with that device.

So looks like one should be looking at 1 TH at least  ( just a guess )... otherwise I see no point ...