Topic: [CLOSED] batch #20/21 .31 - .35 btc for USB miners & 10.25 blades - USA only - page 16. (Read 72401 times)

Whats your wallet address?

I have the waiting problem, too.  All for 0.002 BTC for transaction fee (but have to mine to 0.01 to cash out).

MonocleMan, 4, 1.24, 1HJCj5SJv5KHdWdgYrg4bvdStPkER55AEj

https://blockchain.info/tx/7a40a0549ad855eb56f5bf11046a678ac885ac27c68e6b58e58682d8bad27e1e

NOTE: This is an add on order to my original 10, You already have my Label.

ask mechs since he tried to yesterday but fell short on his bid (should have went to 4 mechs its still a deal at that price point)
CITM provides a service and a great one at that so imho you guys should let him do his thing here and discuss this here: https://bitcointalk.org/index.php?board=81.0

What's your deadline for this group buy? I have to wait for my limit to clear on btcQuick before I can have enough coins to make a complete purchase otherwise, I can just go with what I have. Thanks!

Fair enough.  I have a single USB eruptor I run 24/7 on one of my computers.  I do not do it for profit at all (it will never break even, but it came close!). I just like to help secure the bitcoin network, without killing my GPU and raising my electric bill in the process.  There is a big difference though between spend .35 BTC on a single USB eruptor (equivalent of $35) and $10,250 or 10 blades!

Because that's not a game, it's a boring banking stuff. I want to have real blinking things that generate non-existing virtual "things" that yet somehow I can convert to coffee when I travel to San Francisco. It's simply fascinating. I am not an economist but a guy who wants to play games. Sorry, I do not have deeper answers I guess most people are not like me but I am simply having fun with these contraptions.

What?

What if that 50 billion only buy one  hamburger?

And you want fries?

[/quote]
Profit is not the only driver for me.

Really, I can stand to lose $5-10K now playing this game. Hell, I spent more playing way dumber games But that's what I am doing now - converting some $USD to some virtual things. Let's say I make 50 bitcoins after spending $10,000 today, effectively losing $5,000 at today's rate. Now, what if 1 BTC becomes ONE MILLION DOLLARS (laugh), correction ONE BILLION DOLLARS (holding pinky to the lip). Obviously, I would be better of just "investing" in bitcoins today rather than in these silly blinking contraptions.

You said ASICMINER stock. OK, I got some. But are they going to survive in 12 months or not? Dividends they are paying AT THIS TIME are not making me rich. But you know what, I want to play the game. It's all about the game. In effect, without silly people like me buying into a clearly unprofitable endeavor (you got the numbers!), this whole idea of virtual currencies is going to fold. It's a self-fulfilling prophecy of a sort and is dangerously close to a pyramid. Except one thing - it may happen and people will start using bitcoins. So worst case - I lose $5,000. Best case - I make 50 billion dollars and go on a quest to conquer the Earth :O

Canary, bring more ASIC!

Again, thanks to Canary I can play better!
[/quote]
If you are betting on the appreciation of Bitcoin and accept this is 99% a losing investment in hardware, why not just buy the bitcoins and put them in cold storage.  It would be more profitable to just let them appreciate.  Or make a gamble on pre-ordering some 28nm ASIC vaporware  - high risk but at least their is a chance of a return if they deliver as promised and on-time.

Holy cow, that's awesome man!

I gotta admit, I am kind of an impulse "do it" sort of a person who moves from one shiny toy to another. If it's not "easy" for me, I usually give up and move on. When I discovered your thread and got a sense that you are a no shit send-it-now guy (yeah, got my money stuck in Butterfly Labs for who knows how much longer), I wanted to get some of that ASIC. I spent first 3 hours trying to figure it out this morning and almost gave up and moved to other stuff. What kept me on this thread was other people responses (plus from your previous threads) to keep on trying. Trust is a huge thing and apparently you got some on this forum.

It eventually clicked for me. By late afternoon this was a "how dumb should you be to not understand how it works". It is a dramatic learning curve to obvious Please continue with what you are doing, with your patience towards newcomers like me. I can't even guess how many people considered buying from you and stopped because it was "too hard". Your system is elegant and works well and that compelled me to make screen shots and make a post.

Thank you.

mstang83; 1; 10.25; 17qAbfqLiL3AwjcPmvgXiQwh7Dvw1s61Rc

I will send a label.  Thanks!!

Just some math for those buying these miners.  I was thinking of buying 100 USB Eruptors for .32 BTC each (so 32 BTC in all).  That would require 10 hubs so assume another 2 BTC expensed there so 34 BTC on all which is now about 3400 USD.

The latest difficulty increase is in and we went from 26,160,000 to 50,810,000 in 30 days (from 7/14 to 8/13).  This is a monthly increase of 94% - completely insane.  This will probably continue for a few months and then drop precipitously once all these new 28nm ASICs come online in the first few months of 2014.  Assuming a continued 95% increase per month difficulty increases (a likely scenario for the next several months with all the new hardware coming online).  

With a USB hub, 10 usb miners plus hub consume 330W/hr.  I took my power costs in the US at 0.11 USD per kwh and plugged it in.

Not only will you lose money but at a 95% month over month difficulty increase, these miners will only produce 18.65 BTC (out of 34 BTC invested) in 24 weeks before becoming unprofitable to continue running.  A pretty big loss.

In fact, in order to EVER break even on this investment, you have to assume the month over month difficulty increase will drop down from 194% to 30% to ever break even.  A very unlikely scenario.  If you do not pay for your power (live in a dorm) then the situtation only a little less bleak.  You can break even if month over month difficulty increases drops to 35%.  Also very unlikely.

Here is where I get my #s:

Historical Difficulty increases: http://mining.thegenesisblock.com/

95% month/month diff increase calculator: http://btcinvest.net/bitcoin-mining-profit-calculator.php?diff=50810339.048276&dcosts=3400&diff_mincrease=95&blpbtc=25&dhsmhs=33400&btcusd_mincrease=0&btcusd=100.00&dpowcon=330&dleadtime=0&pcost=0.11&calcweeks=25&action=calc

30% month/month diff increase calculator: http://btcinvest.net/bitcoin-mining-profit-calculator.php?diff=50810339.048276&dcosts=3400&diff_mincrease=30&blpbtc=25&dhsmhs=33400&btcusd_mincrease=0&btcusd=100.00&dpowcon=330&dleadtime=0&pcost=0.11&calcweeks=56&action=calc

Conclusion: Do not buy USB eruptors or the Old Blades if you wish to make a profit.  Your only hope of making money mining is to pre-order some vaporware from hashfast, cointerra, or one of the other 28nm newcomers and pray they are not a scam and can deliver on time.  It is much safer to simply buy ASICMiner stock than the hardware!

The numbers for a blade are no better.  Only will break even if difficulty goes up to only 35% month over month at stock speed.  Overclocking brings that down only a little (still over 30% difficulty to break even), since significant more power is used for cooling and overclocking (and you need to pay for a cooling unit upfront)
http://btcinvest.net/bitcoin-mining-profit-calculator.php?diff=50810339.048276&dcosts=1025&diff_mincrease=35&blpbtc=25&dhsmhs=10752&btcusd_mincrease=0&btcusd=100.00&dpowcon=75&dleadtime=0&pcost=0.11&calcweeks=100&action=calc

TheJuice;10;3.1;1FbWndw3X2FZ5iRdRTSoaCqAxxoZfzi4hT

Shipping label with signed tracking number email sent. Thanks

TheJuice

Attention:

700 USB miners to go to exhaust this batch's inventory
25 blades to exhaust this batch's inventory

any order beyond what's left, will roll into batch 22/23 tomorrow.

received payments guarantee shipping to you.

How I did it.

1. PAYMENT STEP.
I got enough BTC into my local Bitcoin-Qt wallet for the purchase of 5x ASIC Erupters, which Canary is selling at 0.31 per at THIS TIME. I sent the payment and it asked me to pay extra 0.0002 BTC for transaction. I clicked OK and it went through. After some time I went into Transactions tab in Bitcoin-Qt, right clicked on the -1.5502 transaction and selected show transaction details, which gave me Transaction ID:



2. ONLINE NOTIFICATION OF PAYMENT STEP
I posted in this thread per Canary's instructions:

BorisAlt; 5; 1.55; 15aJAPshhWsNJRYx4FnjYPd9fer8XM1cNT

The 15aJAPshhWsNJRYx4FnjYPd9fer8XM1cNT was the address that I use to receive my coins from other sources (more on this later).

3. PAYING FOR SHIPMENT STEP (optional, if you don't want to pay BTC for shipping)
I went to USPS and selected Ship a Package --> Print a Label:


Navigated to specifying address. Note, check the box to specify ZIP code to ship FROM ANOTHER ZIP CODE:



A few clicks later related to weight and size and shipping options and entering my credit card info, I got a window to print or save it as PDF. I saved it as PDF.

4. ASSOCIATING YOUR PAYMENT ADDRESS WITH YOUR PHYSICAL MAIL ADDRESS
Followed previous instructions on signing a message (physical shipping address) with my (bitcoin) address.
Will repeat briefly, that's what it looked like in my case:



Clicked "Sign Message" and got green confirm that it was done. Note, it creates a Signature at the bottom.

5. NOTIFYING CANARY OF ASSOCIATION BETWEEN PAYING and PHYSICAL ADDRESSES STEP:
Sent an email per instructions to [email protected] containing the following:

1. 15aJAPshhWsNJRYx4FnjYPd9fer8XM1cNT
2:
----start below------
Same address as in the Signed message from previous step
----end above-------
3: LongAssSignatureString...RFfQ3koovqa0Hr9xfIJTk7lMKmFIOlk3fO4FZ11tzHeOT51Hfo=

6. FINAL STEP, SEND SHIPPING LABEL PDF TO CANARY

I sent another email to Canary's [email protected], this time attaching PDF from STEP 3 and the following body:

d9192cc3d48721355e897317d6164be6702b5d26bd38e613fc1b973a7c157a7b (from STEP 1)
15aJAPshhWsNJRYx4FnjYPd9fer8XM1cNT (sending/receiving bitcoin address)
940550XX9930002541XXX (USPS tracking number from shipping label PDF from STEP 3)
LongAssSignatureString...RFfQ3koovqa0Hr9xfIJTk7lMKmFIOlk3fO4FZ11tzHeOT51Hfo= (from STEP 4)

What confused me by far the most was, what was my "sending address"? I receive bitcoins with 15aJAPshhWsNJRYx4FnjYPd9fer8XM1cNT, but is it the same as my "sending address"? It turns out, Canary's instructions had the explanation but it was a bit too vague for me. He stated, "first sending address", which I was able to discover right here:

http://blockexplorer.com/tx/d9192cc3d48721355e897317d6164be6702b5d26bd38e613fc1b973a7c157a7b

It turns out that my sending address is the same one as my "receiving address". It may or may not be true for you, but for me it was the case since I use the same address for receiving bitcoins. Regardless, first address from  blockexplorer associated with the transaction should be provided on second line. The blockexplorer site also verifies that indeed 1.55 was transferred from my bitcoin address to Canary's bitcoin address:



It all really makes sense, but getting there is confusing at first. Once you did it once, it's super super easy and fool proof.

Also, make sure to enter the SAME PHYSICAL SHIPPING ADDRESS in USPS and Bitcoin-Qt and what you send to Canary. I used some dumb examples in screenshots above, but they should really be the same address.

Thank you.

bustaballs; 10 USBs; 3.4 BTC; 1NugteonvoMs4tryGGXCHjDasi5Yw171oS