Should I buy an Mining USB Stick to mine Altcoins?

virasisog

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Quote from: CloudStrife on September 01, 2016, 09:40:27 PM

I also believe that it is not a good idea, because of the low hashrate and high difficulty. But using GPUs it is another history.

USB miners is low efficiency and when the difficulty is very high, you cannot mine much, but the miner will be worthless.

CloudStrife

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I also believe that it is not a good idea, because of the low hashrate and high difficulty. But using GPUs it is another history.

robertkedves

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Quote from: Patrick349 on August 02, 2016, 02:18:29 AM

Hey Guys,

I don't know what I should do... Undecided

I am very interested to mine some (new) Altcoins and so I tought about to buy this Mining USB Stick:

https://www.bitshopper.de/shop/sha-256-miner-en/gekkoscience-compac/?lang=en

or on amazon:

https://www.amazon.de/Bitcoin-USB-Stick-bitshopper-GekkoScience-Compac/dp/B0174YL454

Should I buy it or should I not and why?

Best regards,

Patrick

Hi Patrick,

Definitely no. I don't think that USB stick will give you enough hash rate to mine. If you don't want to us CPU or GPU for altcoins, better buy a Antminer (or 2-3) for BTC. Also is not very profitable to mine BTC.

The best solution, stick with GPU because you can alternate the coins.

Check out whattomine.com and see for your self.

Best,

Robert

PovertyByte

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Is the hash rate on that USB miner known for other algorithms?

That is a BTC ASIC USB, as in it is focused to BTC

Ubiquoin

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ROI can also include the learning process. You may learn a lot from the experience if you have not done it before, which can be invaluable.

raphma

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always calculate the ROI, doesnt matter if you will mine 1btc/day if you have to spend 500btc to achieve that. Too much time to achieve your ROI means too much risk.

Matt Guy

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I don't think it's a good a idea, even if you have access to free electricity profit will be minimal, to pay the cost of the equipment.

robelneo

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Quote from: virasisog on August 03, 2016, 05:55:48 AM

Quote from: robelneo on August 02, 2016, 04:55:35 AM

Quote from: virasisog on August 02, 2016, 02:23:47 AM

The mining USB stick will not give you much mining power. For altcoin mining, it is better to use graphics cards.

I also have 4 usb block erupter coming,these devices including from the OP are giving good amount of hashrate does this mean even if they are giving 334 MHS each they are not good for mining altcoins ?

Have you calculated the profitability? If you want to mine altcoins, it is better to use graphics cards.

I might settle for graphic card the usb erupter I expected to arrive have not yet arrive and it's been 3 weeks it was delivered on regular postal just wonder where it encountered problem from the sender point or from my point..

virasisog

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Quote from: tyz on August 03, 2016, 04:26:36 PM

Well, mining altcoins is not worth the electricity anymore. Because I know you are from Germany, you will make constant loss. With those high prices for electricity you will not mine profitable. Instead, it is better and cheaper to buy altcoins or Bitcoin directly for fiat money.

In Germany, the electricity price is too high. You need very efficient miners to make some profit, like 480 or 1070.

bitcoincar

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sites like coinwarz will help you determine what coins are profitable to mine, but the odds are you will end up spending more money on electricity and hardware.

tyz

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Well, mining altcoins is not worth the electricity anymore. Because I know you are from Germany, you will make constant loss. With those high prices for electricity you will not mine profitable. Instead, it is better and cheaper to buy altcoins or Bitcoin directly for fiat money.

GreenBits

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If you were to calculate your energy use vs your bitcoin yield, you would understand why graphics cards are being suggested. It would be better to use a graphics card; also, with any coin worth mining the difficulty should be increasing on you

socks435

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Privacy is always important

My suggestion its better to mine using GPU or CPU it can be more cheaper to mine with high speed hashrate..
USB is cheap but the speed is low so better to dont waste your time to buy but..
you can be still use it for other altcoin to mine..

raphma

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Quote from: Patrick349 on August 02, 2016, 02:18:29 AM

Hey Guys,

I don't know what I should do... Undecided

I am very interested to mine some (new) Altcoins and so I tought about to buy this Mining USB Stick:

https://www.bitshopper.de/shop/sha-256-miner-en/gekkoscience-compac/?lang=en

or on amazon:

https://www.amazon.de/Bitcoin-USB-Stick-bitshopper-GekkoScience-Compac/dp/B0174YL454

Should I buy it or should I not and why?

Best regards,

Patrick

for mining altcoins? well, it will depend on the coin... but yeah, i think it will give you a "good money".
IMO profitability in mining is ROI dependent, and these mining usb stick are cheap.

virasisog

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Quote from: robelneo on August 02, 2016, 04:55:35 AM

Quote from: virasisog on August 02, 2016, 02:23:47 AM

The mining USB stick will not give you much mining power. For altcoin mining, it is better to use graphics cards.

I also have 4 usb block erupter coming,these devices including from the OP are giving good amount of hashrate does this mean even if they are giving 334 MHS each they are not good for mining altcoins ?

Have you calculated the profitability? If you want to mine altcoins, it is better to use graphics cards.

robelneo

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Quote from: virasisog on August 02, 2016, 02:23:47 AM

The mining USB stick will not give you much mining power. For altcoin mining, it is better to use graphics cards.

I also have 4 usb block erupter coming,these devices including from the OP are giving good amount of hashrate does this mean even if they are giving 334 MHS each they are not good for mining altcoins ?

virasisog

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Activity: 1820

Merit: 537

The mining USB stick will not give you much mining power. For altcoin mining, it is better to use graphics cards.

Patrick349

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Should I buy an Mining USB Stick to mine Altcoins?

Topic: Should I buy an Mining USB Stick to mine Altcoins? (Read 1215 times)