Bitcoin Forum

So I bought myself two 10gh/s miners from BFL (max 25gh/s).
What a waste of $118...
I should've done my research before I bought these damn bricks.
At this difficulty i'm making a grand total of $.06 a day... wooo.
Can anybody advise me on what to do with these bricks (besides not being and idiot and doing some research prior to purchase)? are there any altcurrencies out there worth mining?

If it's cold where you are, use 'em to help heat your house :) I have 4 little mini gridseeds and even with
their heatsinks and whatnot, they still put out a fair amount of warmth when I used to mine with them.

Your best off selling them.  If you are lucky someone learning mining will buy it to play with. (I cannot explain it but a lot of people do this and spend more then it's worth).     

made me laugh. dw dude lesson learned at least

Same thing happen to me. I bought miners but didn't use it since I did have a job. Late 2014, i tried to make use of it but seem too late, its impossible to earn today. Mining an altcoin would do. Just wait for a newer coin and mine it.

Mining bitcoin is so difficult now, with diff increased.
my suggestion is try altcoin maybe darkcoin, nxt, xcp, litecoin. Good luck :)

There are 3 option :
1. Sell it for cheap price
2. Mining altcoin, check best coin to mine here : http://www.coinwarz.com/miningprofitability/sha-256 (http://www.coinwarz.com/miningprofitability/sha-256)
3. Keep mine bitcoin with it, you also can use it to make heat

Well you should be happy its just a 100$. A lot of people have lost much more in the money they have spent in the miners.

i think the best option for you is to sell it for the best price that you can find. but if you want, you can take a look at the altcoin section for the coins to mine maybe you can find a good one also take look in coinwarz.com

It's a $50 paperweight.

Even mining altcoins will not yield any benefits. It can make a nice toy for your child though.

Otherwise you can find someone more noob than you and sell it for half the price.

Perhaps you can scrap them for their gold content.

Can you not mine any alt coins with them? Personally mining doesn't seem worth it now. It was great if you could get in at the beginning but it's just not profitable any more.

Yeah list it on the alt coin marketplace. Someone will buy it but mining bitcoins with it is dead as you found out.

just sell the gh or u can face more loss

Very good idea to post your experience here. Many newcomers just think this nice dream ... I have a macihne which will generate income ... !

But if you are interested in mining it can give you some experience and knowledge.
Good luck.

You could always sell your hashing power. Depending on where you are located, NiceHash.com or WestHash.com (same company,
different server locations) are a good place to start to look into that.

Cheers,

Cynthia

In short, You cannot just rely on mining. You cannot mine any right easily now. Do real business with real btc before the infrastructure  collapses.

In detail,
What is rich and what is poor?

In some stories, The rich usually know how to use people while the poor just cares now. It's not only for the crypto, it has been happening in different sectors for decades such as pet birds, types of ore, mineral...

If you have free power you could just let them mine for you and earn the few satoshies per they they'd make. If not, could try selling them again. Not sure how they'd sell here but I would think they might sell on eBay.

You can only mine SHA256, the proof-of-work algorithm Bitcoin also uses, altcoins with them. Since SHA256 hashing power is pretty abundant these days, you won't make a big buck with your device mining altcoins, either - other people would switch to them, as well, wouldn't they?

Find a SHA-256 algorithm based coin if you can't find a buyer of that miner. If you can't find a good altcoin to mine, you're better off selling that miner to another person.

Just keep them for a few decades and sell them to a museum  :D

If thats your earnings after u deduct electricity, put it on ebay or some local market, there are allways those people with "free" electricity that can use it (until they get cought, but thats not your problem)
I have some old scrypt asics that are useless also, but sadly rarely anyone here knows what crypto is..

cheers

It cant mine ASIC?

Well your only hope is going to coinwarz.com, calculate gains on some altcoin, mine and wait for a pump then sell all of it for BTC.

If you dont want to gamble then just sell it.

Seal them up in a nice airtight container. Wait 50 years. Sell as antique collector's items. If BTC is still around they will have some serious "curiosity" value.

Sadly, the only way to recoup your loss right now is to look for someone who will make the same mistake as you, which isn't a very nice thing to do.

of course, if you run them for a few months and make 0.001 BTC and BTC value goes up to >1000$ you will have your money back then too.

Send them to me. :D Well I don't know, but yes, You should have asked here first. That's what I tell everyone to do before investing into something.

Can you suggest at least ONE good alt coin good for mining? I have a feeling that all every alt coin now is just pump and dump scheme and we won't be seeing another dogecoin anytime soon.

its safe to say that all new coins are pump and dump coins, so i would rather go and take a look at services like betarig, where
u can sell your hashpower more profitably.
or on the other hand just cut your losses and resell the machines.

cheers

Room heaters, loud but effective :P
Sorry to hear

Because everyone knows bitcoin is not profitable, if a SHA256 coins become more profitable, the difficulty will rise very fast. Most altcoins now wants to be different from Bitcoin and have ASIC resistance as those who have ASICs would have more coins than those who dont.

you might maybe want to join the pumps and dumps and make profit instead of hitting the jackpot and find the next coin that goes to the moon?

Anyway study and draw your own conclusions, forum people are not reliable when talking about altcoins. Many will try make you fall for their pump and dump thing

NEOS is one good SHA-256 coin that is not a pump-and-dump. The developer is dedicated to steady development and the coin features are just too good.
It is severely undervalued right now, but has a lot of potential.

https://bitcointalk.org/index.php?topic=951349

As others have stated, use them to mine altcoins, maybe you will get lucky and mine a new coin that after you start mining, goes onto a big exchange so you can dump and recoup your costs.

don't buy anything from here, just go directly ith btc, it will reach a good value one day, i'm sure

Perhaps you could consider mining some other altcoin. Pump and dump them and get some easy bitcoins. Or just sell them in the goods section for bitcoin, who knows you might make your money back if bitcoin shoots sky-high again.  :)

I think so too. IMO OP should sell the bricks on ebay or other site ant accept a small loss, then invest the money in Bitcoin.

Be careful not to get scammed on ebay as a lot of people do. That would add further insult to injury. I agree with amph about just buying btc and holding would be a better investment.

Best option is sell it for cheap price.

Ok, well I learned a lesson just reading this thread. Damn, mining is not cheap! :P

I am afraid that your miners won't find good spot for themselves. Because from what I know after doing quick research about altcoins based on SHA-256 differences in your profits are minimal.
It is true that difficulty of mining altcoins is lower that bitcoin but also your potential profits are much lower.
So if you don't have a place with cheap electricity where you can plug your miners then the best option is to sell these miners ASAP.

I would suggest selling it and using the money to buy some bitcoin.  You can make 6 cents a day by doing faucets or signature campaigns.

Sell them, as long as they aren't worn up. They should be worth a little less than what you invested. I spend about $10 investing in genisis mining, and I get 0.04 a day  ;D

Selling is the only option. You might end up with a small loss if you make the selling at the earliest.
Everytime investing in mining won't give you the stable value. So need to plan accordingly and do the investment.