Bitcoin Forum

I bought 10 block eruptors for around 1k and I was going to be making a bitcoin every 15 days. Now it has gone up to every 30 days! What is all that about? No way I am going to get my ROI. Plus the eruptors are much cheaper now so more people will buy them then difficulty rating will go up. I may have we'll flushed my money down the toilet. My next 1k I spend will actually be on buying bitcoins not this ASIC rubbish its a fools game

I hope you are joking....... this is just.... no words.

don't invest in miners if you have no idea how difficulty or free markets work.

You should have done a bit more research before you bought.
At least you didn't order BFL.

Wait until next weeks difficulty adjustment, ~61MM   ::)

we all knew that no one would make a ROI out of them in Bitcoin prospective, but people like you never listen and kept buying them like crazy, and most ASICs today wont make a ROI as well , there will be allways a new technology taking over the old one and this will go so fast that each time you buy a prototype you will be mining to buy the next one and not to make any profit, the only one is making profit are the companies making these ASICs, but again people still threw their money away.

I said this many times and I refused to buy an ASIC and I started few threads about this, but again this is only my $0.02

I new the difficulty will go up but not that much. Anyway I do understand it just wanted to know if anyone had any similar experiences?

yes I have had similar experience but with 10 I would have to consider solo mining. It might be the only way to get lucky.

mate, please, before you pre-order/order anything else, just check this board, related threads and make simple calculation here: http://mining.thegenesisblock.com/

mining with 10 blocks will take you forever to find a block, well if we are talking about luck here, you could solo mine with your GPU and wish that you will be so lucky to find a block

yeah I will check here first defo. I might as well have bought a bitcoin for 500 pounds lol

Check with where you bought them.  A lot of resellers are offering discounts to their early customers who paid a high price for these.

67 mil now

No offense meant during this post at all but when you bought these people have been saying for months how these were going to be simply a short fad and even a toy or miner for the unaware for edu.  You really thought you were going to make ROI with usb block erupters at the price u paid with diff est where they were.

I am honestly interested in your thought pattern that lead to this decision to buy?  Scratching my head here...Are you sure you want to invest 1000 in bitcoins not that its a bad idea...point being be educated about what your investments(the get rich quick phase of btc has long passed).  

BTW You will never find a block with these solo mining, you might wanna buy lottery tickets with this mentality.

FYI I submitted a share difficulty 121M with block erupter

It's all very well saying I was stupid to buy them. Obvious really. I just did not expect the difficulty to increase so much over such a short time

and did you find a block ? the probability of finding a block with 330Mh/s is more like playing lottery

Ok chalk it up to a relatively cheap lesson learned.  ASICs are anywhere from 100x to 1000x as efficient as GPUs.  Difficulty is going to keep going up and up and up and up.   Difficulty 1 billion (you will make ~1/20th per day that you do now) is certainly possible and probable over the next 6-12 months.  It all depends on how irrational miners are and how much ASIC manufacturers discount prices, and how efficient (MH/W) the 28nm chips end up being.  Worst case (from miner perspective) a difficulty of 2.5 billion (50x current value) is likely an upper bound (probably won't happen but certainly possible).

even if you bought them 3 months ago you would never make ROI with the diff.increase ratio of 50% a month (which is really small).

There are better odds to get your money back running the BE solo than there are on PPS/PPLNS.

Well lol welcome to the world of bitcoin :D

However to be honest in this game the pools luck is a very important factor.
If you hit a bad block it can be take many many days to find the needed hit.
Ask the users of ozcoin who mine a bit longer, there they still have memories of weeks looking at a non winner block
I think if you really am unlucky this block can go over 8 billion shares, however i have no clue how how long it can take if you do not the find a block in time.
To be honest with the growing difficulty we will have a hard time to make the bought BE pay back their costs.
In a few months its probably  not doing enough to cover the costs of running them unless and here comes the clue btc grows in value
As soon as btc would get a value corresponding to the difficulty all of us not longer can complain not getting ROI no matter how hard it gets.
But yes the big miners make again good profits even without the value gone up yet

You wont hit a block for years in a row solo .... not a good option even with 10 Gh i am sure it will not workout
I have been solo mining for a long time with very low difficulty compared to now and never ever found a block solo
Hell even in the what is it 4  to 5 years into the btc pool mining only got one freaking block at bitminter a year ago.

yes the same like playing lottery, I am just talking about the probability, this doesn't mean it is impossible to find a block with them, the same as playing lottery you can also win, actually few days ago i saw someone posting that he found a block with 12Mh/s FPGA, yes only 12 Mh/s this is the post https://bitcointalk.org/index.php?topic=7216.msg2871231#msg2871231

Of course I did.  The share was 121M, while a share > 50.8M will solve a block.