Here is the thing about Bitcoin mining. You will more than likely mine at a loss. The secret is if you believe in Bitcoin's future, that the coins you earn today will be worth double, triple, or more. What you mine at a loss today may make you rich in the future. As many people have said before, however, that if you believe that, it's better to buy Bitcoins straight up than mine for them. Many factors at play. Very high risk gamble. If it was that easy, everyone would do it.
Topic: If USB Block Erupters are not worth the trouble, what is? - page 4. (Read 7719 times)
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
Only you can decide where on that spectrum you wish, if at all, to jump in.
I've already jumped in. My mini rig will be delivered tomorrow or the next day. I'll have 6 BE's ready to hash by Friday morning. I consider that this route provides the least exposure and will let me assess if I want to take another, and larger, step.
My best results with any hobby, or business venture, is to start small and only expand if it appears worthwhile. 'Worth' is relative, of course. My goal with this thread was to pick your collective minds.
/Frank
I've never seen "mini rig" and "lease exposure" in the same sentence. How much money do you have where tens of thousands of dollars is considered minimal risk? Lol. Did you mean Jalapeño?
LOL. Sorry 'mini rig' was my term (used out of ignorance) to describe six USB Block Erupters plugged into a D Link. Total cost, including shipping and taxes, $216.00 US*. To me that is 'least exposure' for a rig that will be fun.
I don't believe that I could take up the game of golf, or most other hobbies, for that small of an investment.
* Hey don't laugh. US$ are backed by China. No worries!
/Frank
i got my erupters connected to my pi and its running just fine. 
i guess i am confused as to what you are saying.??
i guess i am confused as to what you are saying.??You will never get back your roi unless you bought them super cheap
roi roi ROI roi thats all ya talk about... its a hobby not a freaking business.
and besides if you must know i have made roi already about daily to every other day.. paid cash for it. not bitcoin.
I think the "hobby" boat sailed away about a year ago. Its now a monsterous runaway freight train fueled by greed and millions of dollars.
If i wanted to mine and lose money for "hobby" purposes, I would just CPU/GPU mine.
Oh man? You said "You need a RPi to run the BitFury USB stick". To me that's final. As in, it'll NEVER work on PC. Well, yes, it will work on a PC once drivers are written.
You write as if it's final. It's not. It's just a matter of time.
You write as if it's final. It's not. It's just a matter of time.
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.
Technically, at the moment you don't need anything at all, because they're not for sale...
You do know I'm not talking about the blades? You do know I am talking about the Block Erupter style BitFury USB sticks?
Someone does have one ............
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.
Technically, at the moment you don't need anything at all, because they're not for sale...
You do know I'm not talking about the blades? You do know I am talking about the Block Erupter style BitFury USB sticks?
Why no just buy the Bitcoins instead of messing about mining them?
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.
Another boost in sales for the rPi!
You will not be able to plug Bitfury-based USB miners into your PC until the drivers are written for them.
EFA.
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.
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.
Only you can decide where on that spectrum you wish, if at all, to jump in.
I've already jumped in. My mini rig will be delivered tomorrow or the next day. I'll have 6 BE's ready to hash by Friday morning. I consider that this route provides the least exposure and will let me assess if I want to take another, and larger, step.
My best results with any hobby, or business venture, is to start small and only expand if it appears worthwhile. 'Worth' is relative, of course. My goal with this thread was to pick your collective minds.
/Frank
I've never seen "mini rig" and "lease exposure" in the same sentence. How much money do you have where tens of thousands of dollars is considered minimal risk? Lol. Did you mean Jalapeño?
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.
Good for you. Proselytising? 
i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.??
i guess i am confused as to what you are saying.??You will never get back your roi unless you bought them super cheap
roi roi ROI roi thats all ya talk about... its a hobby not a freaking business.
and besides if you must know i have made roi already about daily to every other day.. paid cash for it. not bitcoin.
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
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.
i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.??
You can also plug them into your PC. You will not be able to plug Bitfury-based USB miners into your PC. i guess i am confused as to what you are saying.??
i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.??
i guess i am confused as to what you are saying.??You will never get back your roi unless you bought them super cheap
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