thegenesisblock has a great calculator for all of those questions regarding mining and profitability;
Block Erupter sample;
http://mining.thegenesisblock.com/a/ad316a9479
Basically you make back a total of about 13 bucks and then you're at zero... Very sad... Mainly because I just got one going yesterday with another coming in tomorrow. Ahh well...
Good luck!
Topic: If USB Block Erupters are not worth the trouble, what is? - page 2. (Read 7719 times)
If we look at that site , almost everything makes no ROI ?
That is correct, unfortunately.
If we look at that site , almost everything makes no ROI ?
ASICs are priced according to their utility in mining bitcoin. As such, it is reasonable to expect them to be priced slightly higher than their lifetime returns.
If we look at that site , almost everything makes no ROI ?
Is there a reliable source where we can check the profitability of usb block erupters?
Or better yet , is there any place we can check the profitability of anything
a 'trustworthy' place , because wherever I check , usb block erupters looks like a steal for 0.2 but everyone thinks they are not Here you go: http://mining.thegenesisblock.com/
I keep reading about all of the PHs coming onboard and have to wonder how long it will be before I see used 500 GHs units for sale cheap.
It will take just as long for brand new 500GH units to sell for a similar price (and even cheaper in preorder).
Those 28nm asics cost somewhere in the neighborhood of $25-$35 to produce. They will sell for whatever price miners are willing to pay at a given time, and that price will go down as fast as difficulty will go up.
Im not sure what you define as cheap, but 500GH for a a few hunderd dollar will happen before next summer unless almost all those asic vendors screw up big time. And at that price, it still wont give you a positive RIO.
Is there a reliable source where we can check the profitability of usb block erupters?
Or better yet , is there any place we can check the profitability of anything
a 'trustworthy' place , because wherever I check , usb block erupters looks like a steal for 0.2 but everyone thinks they are not
It's a mixture of them all. The higher hashing power, the faster blocks will solved and every 2016 blocks the difficulty increases.
Does your calculator factor in the increased difficulty? I'm curious because the more I read about the horrors of increased difficulty the more confused I get. If it was only difficulty that we had to worry about, there shouldn't be too much worry.
It seems that the increase in hashing power is the killer here. I mean if the hashing power remained the same after a difficulty increase then an individual would have the same share of hashing as before the increase. Hence, forgetting about the luck factor here, the same relative income from mining. Maybe I just don't get it.
/Frank
...One thing it was helpful with was seeing, by playing with the "Generated BTC after days" value, was that indeed there is a return lifetime on ASIC hardware at the moment ... the return does asymptotically approach zero ... and quite quickly.
Does your calculator factor in the increased difficulty? I'm curious because the more I read about the horrors of increased difficulty the more confused I get. If it was only difficulty that we had to worry about, there shouldn't be too much worry.
It seems that the increase in hashing power is the killer here. I mean if the hashing power remained the same after a difficulty increase then an individual would have the same share of hashing as before the increase. Hence, forgetting about the luck factor here, the same relative income from mining. Maybe I just don't get it.
/Frank
...One thing it was helpful with was seeing, by playing with the "Generated BTC after days" value, was that indeed there is a return lifetime on ASIC hardware at the moment ... the return does asymptotically approach zero ... and quite quickly.
Does your calculator factor in the increased difficulty? I'm curious because the more I read about the horrors of increased difficulty the more confused I get. If it was only difficulty that we had to worry about, there shouldn't be too much worry.
It seems that the increase in hashing power is the killer here. I mean if the hashing power remained the same after a difficulty increase then an individual would have the same share of hashing as before the increase. Hence, forgetting about the luck factor here, the same relative income from mining. Maybe I just don't get it.
/Frank
That calculator has saved me from spending so much money. Numbers always comes out in red! 
I preferred my more simple standard pool calculator that I added so you could choose a diff % per change and a number of days and it would work out the BTC return at that number of days assuming that % each diff ... Getting back to the statement by ckolivas : “Highest risk + Highest potential gain<---> Lowest risk + Guaranteed loss”
I used the calculator at http://mining.thegenesisblock.com/ to see what the various hardware would produce. I was surprised to note that even the fastest, and most expensive, unit advertised (the Virtual Mining Platinum Unit, 6 module + 6 cases) at 24,576 GHs will only be running at a profit for 8 months. After that, the electricity costs take all of the efforts. Note: I don’t have a clue how accurate the calculator is, YMMV. If the calculator is close to accurate, the days of mining for a profit are almost over.
I keep reading about all of the PHs coming onboard and have to wonder how long it will be before I see used 500 GHs units for sale cheap.
/Frank
I used the calculator at http://mining.thegenesisblock.com/ to see what the various hardware would produce. I was surprised to note that even the fastest, and most expensive, unit advertised (the Virtual Mining Platinum Unit, 6 module + 6 cases) at 24,576 GHs will only be running at a profit for 8 months. After that, the electricity costs take all of the efforts. Note: I don’t have a clue how accurate the calculator is, YMMV. If the calculator is close to accurate, the days of mining for a profit are almost over.
I keep reading about all of the PHs coming onboard and have to wonder how long it will be before I see used 500 GHs units for sale cheap.
/Frank
Unfortunately I only have my local copy available at home coz ... my internet server it was on got ddosed ... and that server had nothing else on it that would promote being ddosed ... so that was weird.
One thing it was helpful with was seeing, by playing with the "Generated BTC after days" value, was that indeed there is a return lifetime on ASIC hardware at the moment ... the return does asymptotically approach zero ... and quite quickly.
I was going to say bullshit, but thought about my garage full of real gold prospecting equipment. How much I spent vs that little vial of gold I have. Yeah, I could find a nugget (btc hitting $1,000) and roi on gold, but we all know and keep fooling ourselves it will pan out.
So the people selling ASIC hardware are basically trying to screw people on hardware that will never ROI, the people buying ASICs are screwing themselves with machines that cannot predictably pay themselves off, and the community trumpets each new ASIC vendor that comes out even though every game in town is playing with "pre-orders".
Full stop.
If Coinbase and BitInstant can get venture funding to the tune of several millions, and they just process payments, why doesn't venture funding go into something like a K1/N1/BE that will provide ROI based on projections? If AM tomorrow released a product guaranteed to ROI people would buy them like hotcakes, so even if the profit point is $5 that is $5 per unit, and that is lowball. And a few million will cover design, development, fab, testing, assembly, and boxing of a ready-to-ship product. Then it is price based on BTC/Diff and profit away while the technology remains valid and the market remains full of suckers.
The market is ready for anyone to release *shipping now* hardware and both the manufacturer and the miner can profit, but this industry is full of greedy bastards and this has yet to happen. It is proven people will buy working, proven hardware, even at a premium. Charge less of a premium, be the only person selling shipping, ROI-worthy products, and you'll own the market for long enough to make cubic shit-ton of money.
Reactor,
I agree with you at some point at this market level of value per Bitcoin. If these units make very little BTC, and the value goes up to say $1,000 per BTC, it will pay for itself. But it would be better to by the BTC instead of buying the hardware. No one can see the future.
I see it as a hobby. Not to quit my job for.
...
Not the point of my post.
Commonly known as misdirection.Not the point of my post.
So the people selling ASIC hardware are basically trying to screw people on hardware that will never ROI, the people buying ASICs are screwing themselves with machines that cannot predictably pay themselves off, and the community trumpets each new ASIC vendor that comes out even though every game in town is playing with "pre-orders".
Full stop.
If Coinbase and BitInstant can get venture funding to the tune of several millions, and they just process payments, why doesn't venture funding go into something like a K1/N1/BE that will provide ROI based on projections? If AM tomorrow released a product guaranteed to ROI people would buy them like hotcakes, so even if the profit point is $5 that is $5 per unit, and that is lowball. And a few million will cover design, development, fab, testing, assembly, and boxing of a ready-to-ship product. Then it is price based on BTC/Diff and profit away while the technology remains valid and the market remains full of suckers.
The market is ready for anyone to release *shipping now* hardware and both the manufacturer and the miner can profit, but this industry is full of greedy bastards and this has yet to happen. It is proven people will buy working, proven hardware, even at a premium. Charge less of a premium, be the only person selling shipping, ROI-worthy products, and you'll own the market for long enough to make cubic shit-ton of money.
Reactor,
I agree with you at some point at this market level of value per Bitcoin. If these units make very little BTC, and the value goes up to say $1,000 per BTC, it will pay for itself. But it would be better to by the BTC instead of buying the hardware. No one can see the future.
I see it as a hobby. Not to quit my job for.
That calculator has saved me from spending so much money. Numbers always comes out in red!
Getting back to the statement by ckolivas : “Highest risk + Highest potential gain<---> Lowest risk + Guaranteed loss”
I used the calculator at http://mining.thegenesisblock.com/ to see what the various hardware would produce. I was surprised to note that even the fastest, and most expensive, unit advertised (the Virtual Mining Platinum Unit, 6 module + 6 cases) at 24,576 GHs will only be running at a profit for 8 months. After that, the electricity costs take all of the efforts. Note: I don’t have a clue how accurate the calculator is, YMMV. If the calculator is close to accurate, the days of mining for a profit are almost over.
I keep reading about all of the PHs coming onboard and have to wonder how long it will be before I see used 500 GHs units for sale cheap.
/Frank
I used the calculator at http://mining.thegenesisblock.com/ to see what the various hardware would produce. I was surprised to note that even the fastest, and most expensive, unit advertised (the Virtual Mining Platinum Unit, 6 module + 6 cases) at 24,576 GHs will only be running at a profit for 8 months. After that, the electricity costs take all of the efforts. Note: I don’t have a clue how accurate the calculator is, YMMV. If the calculator is close to accurate, the days of mining for a profit are almost over.
I keep reading about all of the PHs coming onboard and have to wonder how long it will be before I see used 500 GHs units for sale cheap.
/Frank
...
Not the point of my post.
Commonly known as misdirection.Not the point of my post.
So the people selling ASIC hardware are basically trying to screw people on hardware that will never ROI, the people buying ASICs are screwing themselves with machines that cannot predictably pay themselves off, and the community trumpets each new ASIC vendor that comes out even though every game in town is playing with "pre-orders".
Full stop.
If Coinbase and BitInstant can get venture funding to the tune of several millions, and they just process payments, why doesn't venture funding go into something like a K1/N1/BE that will provide ROI based on projections? If AM tomorrow released a product guaranteed to ROI people would buy them like hotcakes, so even if the profit point is $5 that is $5 per unit, and that is lowball. And a few million will cover design, development, fab, testing, assembly, and boxing of a ready-to-ship product. Then it is price based on BTC/Diff and profit away while the technology remains valid and the market remains full of suckers.
The market is ready for anyone to release *shipping now* hardware and both the manufacturer and the miner can profit, but this industry is full of greedy bastards and this has yet to happen. It is proven people will buy working, proven hardware, even at a premium. Charge less of a premium, be the only person selling shipping, ROI-worthy products, and you'll own the market for long enough to make cubic shit-ton of money.
Reactor,
I agree with you at some point at this market level of value per Bitcoin. If these units make very little BTC, and the value goes up to say $1,000 per BTC, it will pay for itself. But it would be better to by the BTC instead of buying the hardware. No one can see the future.
I see it as a hobby. Not to quit my job for.
...
Not the point of my post.
Commonly known as misdirection.Not the point of my post.
So the people selling ASIC hardware are basically trying to screw people on hardware that will never ROI, the people buying ASICs are screwing themselves with machines that cannot predictably pay themselves off, and the community trumpets each new ASIC vendor that comes out even though every game in town is playing with "pre-orders".
Full stop.
If Coinbase and BitInstant can get venture funding to the tune of several millions, and they just process payments, why doesn't venture funding go into something like a K1/N1/BE that will provide ROI based on projections? If AM tomorrow released a product guaranteed to ROI people would buy them like hotcakes, so even if the profit point is $5 that is $5 per unit, and that is lowball. And a few million will cover design, development, fab, testing, assembly, and boxing of a ready-to-ship product. Then it is price based on BTC/Diff and profit away while the technology remains valid and the market remains full of suckers.
The market is ready for anyone to release *shipping now* hardware and both the manufacturer and the miner can profit, but this industry is full of greedy bastards and this has yet to happen. It is proven people will buy working, proven hardware, even at a premium. Charge less of a premium, be the only person selling shipping, ROI-worthy products, and you'll own the market for long enough to make cubic shit-ton of money.
The Problem is that no machine at any price can promise a return on investment because there is an unlimited number of them and a finite number of bitcoins to be mined.
I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
There are no drivers for standard computers as i know. CGminer is not able to use them nor any other miner atm.
Bitfury uses their own program called chainminer (?) for mining with them
One day that may change, but not yet.
So they can work on normal computers, and don't need a RPi? They just need some drivers written. Glad we sorted that one out then.
...
Not the point of my post.
Commonly known as misdirection.Not the point of my post.
So the people selling ASIC hardware are basically trying to screw people on hardware that will never ROI, the people buying ASICs are screwing themselves with machines that cannot predictably pay themselves off, and the community trumpets each new ASIC vendor that comes out even though every game in town is playing with "pre-orders".
Full stop.
If Coinbase and BitInstant can get venture funding to the tune of several millions, and they just process payments, why doesn't venture funding go into something like a K1/N1/BE that will provide ROI based on projections? If AM tomorrow released a product guaranteed to ROI people would buy them like hotcakes, so even if the profit point is $5 that is $5 per unit, and that is lowball. And a few million will cover design, development, fab, testing, assembly, and boxing of a ready-to-ship product. Then it is price based on BTC/Diff and profit away while the technology remains valid and the market remains full of suckers.
The market is ready for anyone to release *shipping now* hardware and both the manufacturer and the miner can profit, but this industry is full of greedy bastards and this has yet to happen. It is proven people will buy working, proven hardware, even at a premium. Charge less of a premium, be the only person selling shipping, ROI-worthy products, and you'll own the market for long enough to make cubic shit-ton of money.
...
Not the point of my post.
Commonly known as misdirection.Not the point of my post.
You would know more about that than I would.
...
Not the point of my post.
Commonly known as misdirection. Not the point of my post.
alt coin with gpu cost way too much power, i tried and it didn't work out that well
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