Will people ever get their investment back on USB Erupter ? - page 2.

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

Quote from: Rampion on June 18, 2013, 06:08:44 PM

No they won't, and this was obvious from the very beginning.

ASIC being deployed = huge jump in difficulty. Nowadays, if your miner takes more than 45 days to breakeven it will probably never pay itself back. USB miners b/e point was way more than 45 days to b/e from the very beginning, so it was obvious they wouldn't pay for themselves. They have quite an appeal as a novelty product, I would even say that conceptually its a revolutionary product, and that's what people payed for.

Hoping ROI for those was delusional, or pure ignorance.

Nope it was blind greed

Rampion

legendary

Activity: 1148

Merit: 1018

No they won't, and this was obvious from the very beginning.

ASIC being deployed = huge jump in difficulty. Nowadays, if your miner takes more than 45 days to breakeven it will probably never pay itself back. USB miners b/e point was way more than 45 days to b/e from the very beginning, so it was obvious they wouldn't pay for themselves. They have quite an appeal as a novelty product, I would even say that conceptually its a revolutionary product, and that's what people payed for.

Hoping ROI for those was delusional, or pure ignorance.

Alexander The Great

newbie

Activity: 28

Merit: 0

Quote from: btceic on June 18, 2013, 05:59:50 PM

Let's do some math:

~1 GH/s ~= 0.025 BTC per day

1/3rd of 0.025 ~= 0.0075 BTC per day per USB
0.025 * 0.30 == 0.0075

Original cost of 1 USB = 1.99 BTC, let use that figure just to be fair, as this is the lowest price you could/can get it for right now.

At the current diff, it will take each USB 266 days to reach your original investment, not including any electricity that you may have used.

diff is currently jumping 15%-28% each 10 days or so.

Depending on what your cost basis is of your bitcoin, I would say the answer to this question is a resounding no.

15-28% each 10 days the difficulty moves up?!? Are you serious? I thought it was every 4 years.

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

When they drop below $50 / 0.50 BTC I may then buy a couple to add to my GPU's and send some to friends whom are on the fence about bitcoin.

HuntedBitcoins

newbie

Activity: 5

Merit: 0

I seriously don't get why people are paying 2BTC + for these things.

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

Let's do some math:

~1 GH/s ~= 0.025 BTC per day

1/3rd of 0.025 ~= 0.0075 BTC per day per USB
0.025 * 0.30 == 0.0075

Original cost of 1 USB = 1.99 BTC, let use that figure just to be fair, as this is the lowest price you could/can get it for right now.

At the current diff, it will take each USB 266 days to reach your original investment, not including any electricity that you may have used.

diff is currently jumping 15%-28% each 10 days or so.

Depending on what your cost basis is of your bitcoin, I would say the answer to this question is a resounding no.

Alexander The Great

newbie

Activity: 28

Merit: 0

Isnt bitcoin increasing in difficulty sometime next year? I imagine thats when the new erupters will come out

escrow.ms

legendary

Activity: 1274

Merit: 1004

blockerupters might be good for other stuff, but not good for mining bitcoins at current difficulty.

rumpler

newbie

Activity: 6

Merit: 0

Yeah, as others have said, blockeruptors are pretty unprofitable at this point.

I'm surprised by that one video going around with the kids and the bitcoin mining farm, where they had something like 50 units of the USB model. Someone argued that if the Bitcoins they spent on them were mined long ago, then the "cost" wouldn't be that high for all the units, but the opportunity cost would still be huge...

R3dcell

member

Activity: 78

Merit: 10

Quote from: Alexander The Great on June 18, 2013, 05:40:31 PM

Anyone who buys USB erupters now will lose out bigtime

Correct sir!

Alexander The Great

newbie

Activity: 28

Merit: 0

Anyone who buys USB erupters now will lose out bigtime

Birdy

sr. member

Activity: 364

Merit: 250

Quote from: Lohoris on June 18, 2013, 04:54:39 PM

Quote from: poelling92 on June 18, 2013, 04:51:36 PM

I believe between 1-2 years, after that you will make bitcoins. not bad as a hobby with 1 Unit Cheesy

but impractical to run serious hash with many of these units for profit

O_o

what you "believe" is completely irrelevant.

Either you can do maths or you can't, and you can't, apparently.

Well, if you believe the hashrate will stop increasing then it's relevant.
However I think it's very unlikely that this will happen. Even if the same amount of people will mine in the future, technology will advance.

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

Quote from: poelling92 on June 18, 2013, 04:51:36 PM

I believe between 1-2 years, after that you will make bitcoins. not bad as a hobby with 1 Unit Cheesy

but impractical to run serious hash with many of these units for profit

O_o

what you "believe" is completely irrelevant.

Either you can do maths or you can't, and you can't, apparently.

poelling92

legendary

Activity: 994

Merit: 1002

I believe between 1-2 years, after that you will make bitcoins. not bad as a hobby with 1 Unit Cheesy

but impractical to run serious hash with many of these units for profit

R3dcell

member

Activity: 78

Merit: 10

Quote from: crashzilla on June 18, 2013, 04:26:14 PM

3 to 4 months

no way. this just isn't possible at their current price and hashing rate of ~330MH/s

crashzilla

newbie

Activity: 14

Merit: 0

3 to 4 months

macintosh

newbie

Activity: 28

Merit: 0

I doubt they ever will.

R3dcell

member

Activity: 78

Merit: 10

yeah

Probably wont even be worth having an Erupter once the difficulty goes up a bit more. I wish I had the money to invest in a BFL Jalapeno or maybe a KNC miner when they come out.

saveawedge

full member

Activity: 146

Merit: 100

If you were one of the first to receive, a ROI was just about possible. I'm also watching to see what price ASICminer set the new batches at.

sacramento

member

Activity: 69

Merit: 10

Quote from: R3dcell on June 18, 2013, 03:21:14 PM

very true. Id like to get a few myself but am opting to wait a few weeks and see where the prices are at.

I am doing the same too, the flip side is that the diff is going up quickly, because many ASICs released into the mining

Topic: Will people ever get their investment back on USB Erupter ? - page 2. (Read 1940 times)