Bitcoin Forum

I'm having trouble understanding why people still use USB miners like the HexFury.
The price per Gh/s is extremely high and seems to have no chance of breaking even, especially when compared to standalone miners like S1.

What am I missing?

Probably some people do not have the funds to invest in something better but want to mine as a hobby.  Also, some people just do not understand the math part.

USB miner people are mostly beginners trying to understand mining process before getting their feet into deeper waters, to see if it really works out for them or not. Imagine a guy who read an article about Bitcoin on Digg and started reading about mining, got interested but rather than investing $10,000 straightaway on a mining rig he would first wants to play safe and see if he can actually go through 'the whole mining thing'.

[ StickMiners - Where FUN > ROI (https://bitcointalk.org/index.php?topic=464496.0) ]  ;D

Exactly!

And it also allows for interesting opportunities. I don't mine BTC but I have 5 U2's for shits and giggles hashing away on the blackcoin pool. For the very little $$ they cost its nice to have some SHA hardware available. You never know if something might come along that could make the little bastards profitable.

Also, a cheap way to play the lotto.  Who knows, you may hit a block with one.

Exactly x2!  Plus most vendors are doing what the computer makers did back in the day, scaling up instead of scaling out.  Now folks are selling 1TH units like they used to sell 100GH units, however once you go up to that high of a hashrate the power draw becomes something of an issue.  For example, I'm east coast US and my power rate is .15 but w/ delivery and taxes it is closer to .29, so running something at 1KW is insane for me.  Plus my rental house has a terrible power scheme (and the owners are assholes and won't consider upgrading), so there isn't a single place that is accessible in the house that I can draw 1KW from a single breaker, meaning I physically cannot run a 1TH unit until 1TH units get much, much lower in their power draw.

USB's, and even Gridseeds, on the other hand, are smaller, lower power draw, more manageable heat-wise, and can easily be swapped to other coins at a whim.  Plus, not a single 1TH unit coming out right now is going to ROI per current network increases and those fuckballs at KNC, so the argument "USB won't ROI" can be replaced with "Mining hardware won't ROI" and you're more accurate.  

Mining is a shitty place, but some of us like to remain involved. :) :)

Some people aren't paying electricity costs, so any return is profit. (If it's already paid for itself, of course)

I got into the usb miner game with 1 miner, then eventually 2, then 3 and now i'm up to 9.  I realized after a while that if I continue down the addition path, then I would just be better off holding that money until I can afford a bigger miner.  USBs are really light fun and good for learning the basics of everything, but if you are going to make it a real thing then maybe try 1 USB first and then go for something bigger.

I'd drink to that sir!

I'm sure that the contributors to this thread have amply answered your question, but I'd still assure you that there is a lot of life left in the USB miner concept yet, especially in view of the comment made by WetSeals about people that would like to mine, but have very limited funds, or that made by MiningSensei about how he built up his hashing power ....

Our company will shortly be offering a 100GH/sec capable USB miner (to get that it has to use the included AC adapter) at substantially under US$75, and no, that's not a misprint. 100 GH/sec at under US$75.

Does that proposition make sense to you?

That should easily ROI - depending on actual delivery date, mostly.

I wouldn't necessarily call that a USB miner, though, so much as a miner that happens to communicate with a host system over USB. Which is pretty much all of them.  Perhaps size-wise it'll be more akin to what's being referred to here than to e.g. a onestring, Hex16, etc. or even the HashBuster micro/nano (small package, but still not exactly 'a USB miner').
I'm looking forward to your announcement, regardless.

What is your company called, and how short is shortly?

It's called Novello Technologies Limited, we're based in the UK and we hope to make an announcement in the next two weeks. The USB miner isn't the only product, but it will probably be the one that gets most interest.

Finally a SHA-256 ASIC manufacturer who has the right idea.  If it's legit that is. :)

Oh, it's legit all right. You'd have to be a very brave or terminally stupid scammer to make this up. When you read our proposition you can make up your own mind.

Sounds awesome man, I look forward to it.

That's a very bold statement. You've got my attention. Will look forward to the official announcement.

This is awesome! BUT! U r telling to people that hey r stupid scammers. So... U r a scammer! Why?
1. No profit to your "company".
2. U r blaming others.

So, if your words r true, plz provide some samples to bitcointalk users for tests and overviews. That will be a nice advertising and people will b standing in queus to buy some miners from u, because it sounds like u r the most awesome miners producing company.

Two requests:

1) Be legit :D
2) Pull the rug out on Bitmain.  Those shitheads don't deserve any more business.

100 gh/s for $75.... If you actually ship and are legit, better stock up on the supply, because you will get sold out! Will look forward to announcement, but won't be a first buyer. Probably not a second or third buyer. Will wait for community feedback before I make my decision. I looked up your company, couldn't find anything, do you guys not have a website?

3) And start a new thread - no point in hijacking this one any further :P

Any chance of a pre-order? Please STFU and take my money ;D
Or there's going to be an announcement shortly?

Apologies for that, wasn't intended. It was meant to be a genuine answer to the original question.

Yep. I got my start in mining with the first USB stick miner: an ASICMINER Block Erupter.

I started with just one, and learnt how to mine with it. Then I built up to 3 to crack the 1 GH/s barrier for the first time. Ended up with 9 of them, pulling 3 GH/s.

They were a relatively low cost entry into Bitcoin mining, plus had the advantage of wife-compatibility: no heat*, no noise.

Funny thing, I still have those original 9 BEs hashing. The hash rate is irrelevant, but so is the power draw, so I haven't bothered to switch them off yet.

* 9 BEs have no noticeable affect on room temperature.

Same for me I have them  at my computer at work 24/7      2 U1 and 1 U2 antminers most probably when my antminers S1 at home will switch off due to electricity cost my USB miners will hash!!!!!
anyway its more like a game and less like a profit...
 

That's it! This is another one major feature :D I have a gridseed (which is 300k\8g) and on night time I always moving it with RPi to the kitchen :) It's damn noisy

I think them just for fun

We can not get back the cost from USB miner

Yes you can .
If you hold bitcoin for long.

That's assuming the exchange rate goes up at some point - though you would still have been better off just buying bitcoin and holding that (instead of slowly accumulating).

Alternatively, it's assuming that a new USB miner/StickMiner is introduced at a time and price point where it stands a very good chance of financial ROI.

Where's the fun in that ?

Like zombie hordes... when you've only got a slingshot... and they're the only available ammunition.


But a long time ago, in a galaxy far far away...

There was a small window of opportunity where if you had bought the AM sticks in July-ish, if you mined on them until October-ish, hodling the coins, then sold the miners, then waited until December and sold the coins. they would have actually paid off.... but if you had kept running them they'd have sucked it back in electricity or depreciation of the hardware.

Touché ;)

USB miners are simply beautiful.
I dont know why but there's something captivating when they're in action.
At least if btc ever tanks to 0, i got something physical to hold on to, not just a balance to look at in the computer.

I must admit, they are more appealing for keyrings than say a big black lump like a BFL single.... unless of course it's a for a public washroom key or something.

Or you could use BFL single as a hydraulic jack...
You need two of them to lift the wheelbase.