Bitcoin Forum

Hello everyone,
I pre ordered this product https://products.butterflylabs.com/homepage-new-products/1-gh-cloud-hosted-bitcoin-hashing-power.html (https://products.butterflylabs.com/homepage-new-products/1-gh-cloud-hosted-bitcoin-hashing-power.html)
How much can I mine with such a product?
Would multipool be the best option?
And should I trade in the alt coins I mined for bitcoins at the end of the day?
Thnx

Keep reading all over... but my advice is to just buy some BTC... mining isn't for the faint of heart and it is very easy to be taken advantage of.

1GH will get you... about nothing.

Well i dont have any money to buy BTC.
So 10 dollar is only a small investment to try it out.
If I mine any altcoins i get alot right?

SHA256 altcoins are almost worthless (compared to BTC, you won't make more off them). And ASICs can't mine Scrypt.

Somewhat simplified translation of this (correct) statement: your investment can only mine BTC, not altcoins.

If you want to see some nice charts and calculations, try this calculator.
I put in some numbers, to help you start, but for 100gh/s. Look at 'overall', better buy and hodl.
http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=2621404453&dcosts=1083&diff_mincrease=20&blpbtc=25&dhsmhs=100000&diff_mincreasedecrease=3&btcusd=847.66&dpowcon=0&btcusd_mincrease=0&pcost=0.25&calcweeks=32&dleadtime=4&action=calc

Ah yes it can only mine bitcoin, but peercoin is a possibility to ?
And I think peercoin is going to do good to because of the low energy costs?


Ok thnx man ill check it out

Thanks for this!

With this mining contracts I think you don't have control over hardware, what pool, and what coin to mine. They will be mining btc, and your amount will be calculated acording to hashrate you bought.

Ok. Don't forget that we can only speculate on future diff increase. Try some values, for optimistic and pesimistic outcome on hashrate increase, and decide for yourself if or how to invest.

I laughed so hard.

well next time do more research before throwing your money to toilet.

you didn't bought product, you bought hashing power.

you can't point that to any other pool but to BFL private pool.

also 1gh is worthless.

Hit-and-miss. With SHAs, I think Bitcoin is going to remain on top. This could change later, but that's pure speculation and different people have their own views.

My bitcoin calculator says:

1 GHs = 0 BTC/Day, 0.001 BTC/Week, 0.006 BTC/Month

Go for it, knock yourself out!

That's painful. So in the 30d it should earn around 4.5 (due to increases in difficulty), next month will be 3.75....

About 16.3 cents a day (USD) with 1 GHs, and dropping by about 20% now every 12 days or so.

Well thnx for all the help here.
The profit is ok for me, and when the product goes live i can post some stats.
What is a good investment now in bitcoins?, when you dont have alot of money?

Straight up Bitcoins are the best way to get involved. The rest is pretty much all speculation; with Bitcoin you're knocking out a lot of the problems that can occur.

This mining calculator doesn't seem to work properly. It predicts a retarget every 12 days regardless of the estimated difficulty change. If difficulty changes by 100%, it will have resulted from a previous 2016 blocks that were solved in 7 days, not 12.

Anyway, it's not too hard to DIY. Copy the google docs spreadsheet from here: http://organofcorti.blogspot.com/2014/02/917-estimating-future-bitcoin-mining.html

sign up at cex.io and cloud hash there refferral link in my sig

That site looks good to but i dont understand it completetly?
Can I buy like 0.1 gh and then it starts mining already?
Or Do i really need 1 gh to start mining there?

dont buy from cex.io or any other cloud mining sollution ... u wont even make your money back ...

Exactly.

Check your profitability before buying hardware or hashrate.
http://bitcoinwisdom.com/bitcoin/calculator or https://cex.io/calc

38 posts and that's the best you can do, request a referral?

In answer to the OP, you'll eventually make your fiat investment back but the money would have been better spent buying the coins directly.  Since BTC is the most profitable SHA coin right now, it would be better to mine BTC and buy Peercoin with the BTC - at least from a profit perspective.

Ok Thank you Drg,
I dont have alot of money to invest so I tried this.
When I get any money now ill invest in coins.
But i want to mine also

Spend your money directly investing buying and selling crypto!
Mining is hard and requires lots of time reading-up and setting up, plus the risk to get scammed.

+1  

Just plug the above numbers into spreadsheet and you'll have your answer.  With 20% diff increases, about BTC10 in one year (and few cents after that), BTC6.5 with 30%

0.163   12   1.956   0.2
0.1304   12   1.5648   0.2
0.10432   12   1.25184   0.2
0.083456   12   1.001472   0.2
0.0667648   12   0.8011776   0.2
0.05341184   12   0.64094208   0.2
0.042729472   12   0.512753664   0.2
0.0341835776   12   0.4102029312   0.2
0.0273468621   12   0.328162345   0.2
0.0218774897   12   0.262529876   0.2
0.0175019917   12   0.2100239008   0.2
0.0140015934   12   0.1680191206   0.2
0.0112012747   12   0.1344152965   0.2
0.0089610198   12   0.1075322372   0.2
0.0071688158   12   0.0860257898   0.2
0.0057350527   12   0.0688206318   0.2
0.0045880421   12   0.0550565054   0.2
0.0036704337   12   0.0440452044   0.2
0.002936347   12   0.0352361635   0.2
0.0023490776   12   0.0281889308   0.2
0.0018792621   12   0.0225511446   0.2
0.0015034096   12   0.0180409157   0.2
0.0012027277   12   0.0144327326   0.2
0.0009621822   12   0.0115461861   0.2
0.0007697457   12   0.0092369488   0.2
0.0006157966   12   0.0073895591   0.2
0.0004926373   12   0.0059116473   0.2
0.0003941098   12   0.0047293178   0.2
0.0003152879   12   0.0037834542   0.2
0.0002522303   12   0.0030267634   0.2
         
   360   9.7678929464   

0.163   12   1.956   0.3
0.1141   12   1.3692   0.3
0.07987   12   0.95844   0.3
0.055909   12   0.670908   0.3
0.0391363   12   0.4696356   0.3
0.02739541   12   0.32874492   0.3
0.019176787   12   0.230121444   0.3
0.0134237509   12   0.1610850108   0.3
0.0093966256   12   0.1127595076   0.3
0.0065776379   12   0.0789316553   0.3
0.0046043466   12   0.0552521587   0.3
0.0032230426   12   0.0386765111   0.3
0.0022561298   12   0.0270735578   0.3
0.0015792909   12   0.0189514904   0.3
0.0011055036   12   0.0132660433   0.3
0.0007738525   12   0.0092862303   0.3
0.0005416968   12   0.0065003612   0.3
0.0003791877   12   0.0045502529   0.3
0.0002654314   12   0.003185177   0.3
0.000185802   12   0.0022296239   0.3
0.0001300614   12   0.0015607367   0.3
0.000091043   12   0.0010925157   0.3
6.37300830919026E-005   12   0.000764761   0.3
4.46110581643318E-005   12   0.0005353327   0.3
3.12277407150323E-005   12   0.0003747329   0.3
2.18594185005226E-005   12   0.000262313   0.3
1.53015929503658E-005   12   0.0001836191   0.3
1.07111150652561E-005   12   0.0001285334   0.3
7.49778054567925E-006   12   8.9973366548151E-005   0.3
5.24844638197548E-006   12   6.29813565837057E-005   0.3
         
   360   6.5198530435   

Wow thank you very much!
Actually I really like that.
I really wanna get involved in to mining more.
I am thinking about getting some usb sticks to also mine scrypt and trade them for BTC
But I only have 0.00537000 BTC
And no job for incomming money, what would your advise me to do or buy?

you can't mine scrypt coins with sticks!
they are sha-256 only!
sorry there is nothing you can do.

is this for real???
wtf????
are you out of your fucking mine???
1gh can earn around 16.3 cents!!!! USD cents!!!!
if diff stay the same $0.16 x 365 days = 52 fucking US dollars!!!!!
so based on this math you made he will earn $9.36 in one year with 20% diff increase or $6.15 with 30% difficulty increase!!!!  US fucking dollars!!!! not BTC!!!!!

this is funniest shit I ever read!
and you are hero member with almost 600 posts! OMG!!!

this guy make a serious mistake!
ignore that calculation!
if you can earn $0.16/day you can do the math your self!
$0.16 x 365 days = $58 in one year and we all know that diff will rise dramatically so the number is much worse than that!
 

Read the post.  it is not $, but FUCKING BTC in the first and third column.

0.16 BTC/day RIGHT NOW, 0.13 BTC/day two weeks from now and so forth...

My mistake, I read the OP as 1TH.  So divide by 1000, if you like.

i'm reading a fucking post and yes you made a fucking mistake!
make a correction to your calculation, guy really believed you!!!
and it's the same shit!!!!! 0.16 dollars, btc-s, eds, dicks....
end result is correct by your calculation! it's just not BTC!!!! it's fucking USD!!!!!

and btw no hard feelings.
I'm just fucking around... we all make mistakes ;-)

1 GH gets you nothing. it is a bad investment.
you better buy bitcoins or altcoins and try to make smart trading. If you're really into mining, get yourself an antminer, mine with it for a month and sell it back.

"1 GH gets you nothing. it is a bad investment.
you better buy bitcoins or altcoins and try to make smart trading. If you're really into mining, get yourself an antminer, mine with it for a month and sell it back."

OP only has bout 0.005 BTC, at today's rate, less than $3.35. Where can anyone currently go and buy an Antminer S1 or a U1 for $3.35? I'd really like to know.

No where m8, But I get 30 euro soon plus my birthday in a month so I get like 200 euro more,
So then i got some money to invest i will buy some bitcoins, and go trade with them maybe buy another videocard to, so i can mine srypt better.
Because i really like the idea of mining alt's and keeping them for a while and selling them for btc later.

25 bitcoins.  all at once

I bet the MINT will die soon.

that sounds like my friends saying :)
They have mined since last year. When I said wanting too, they said "electric bills are greater than the value of bitcoins that can be mined."  They said that it is too difficult now, 1 GH is not enoug

You can treat this USB miner as a lottery ticket and try solo mining to get whole 25BTC block ;)
Just fun, not an investment.