Bitcoin Forum

Are they really kick ass for LTC?

Power savings.  Full stop.

For script mining?

Here is the readers digest version:

3Mh of a traditional scrypt miner using video cards uses 1500 watts of power produces enough heat to raise the temp of a room 30-40 degrees and costs about $2500-$3000 and sound like a jet engine

3Mh of Gridseed miners uses about 100 watts, produces almost zero heat costs about $2525 and can be absolutely silent with the disconnect of the fans.

Hope that helps

I think Gridseed is more worth than Own built miner for any of both type of currencies, cause the lower electicity power needed, and also the option to mine both type of virtual currencies in same time ... :)

No one actually uses their Gridseeds to mine BTC, do they?

Minimal power consumption + Very reasonable hash rates means low overhead and high profit.

Great for people with hydro bills...

BTC mode eats much more power so it unusable at current difficulty levels

I dare to doubt about high profits, at current prices you'll make about 30 cents/day from 1 gridseed which costs 180 usd, when we consider difficulty growth ROI is in infinity...

Pointing them at an alt coin switching pool that automatically sells alts when mined and converts to BTC, let's you use gridseed devices to mine bitcoins.

At least that is how I am using them.

If your question was do people use them to mine btc directly with the sha256 capability, it seems most do not since they are not exactly power efficient.

A quick calculation:

10 Gridseed Kit, 3 MHs = $200 x 10 = $2000

3 MHs at auto switching pool get you, let's see, 0.0045 BTC per MHs, so 0.0135 BTC a day, so you are making $5.805 (at $420/BTC) a day. It will take the buyer about 344 days to break even.

I feel so sorry for those who got snookered.

If you are doing it as a hobby why not?  If you are doing it to make money it's a different story.  I'm debting buying one so I can mine scrypt too lol.

You're getting ripped off if you're buying 10 gridseeds for $2000. You can order 10 gridseeds for around $1300 from ZoomHash. And if you actually do your own mining as opposed to relying on a multipool you can make a bit more per day. If you just stick with multipools you have around a 7 month payback. Manually you could probably get that down into the 5-6 month range.

Regardless, people buying this equipment know that the breakeven point has always been months and not days.

With gridseed blade it would be 1 blade, 5.8MHs= $1600

.0045 = .0261 BTC/day * $450(current BTC price) = $11.745/day = 136 days ROI

Not bad considering what it used to be but once Titan is released it is game over.

yeah they are basically meant for ultra low power consumption

 I have 6 of them running on scryptguild.

I got them early on so ended up spending 200ea

I take into consideration my total hashpower when calculating my ROI, I dont do the individual ROI calculations because whats the point when you have multiple rigs.. if you were getting started with gridseeds than thats a different story.

So with all of my other rigs hashing away focused on my ROI for the gridseeds my payoff was fairly quick

Reason for me to buy a Gridseed is to shut donw 8 computers at my work doing 4-8 Kh/s
so by buying 1 gridseed its like having more than 80 of those old Pentium 4 @ 3ghz...
I save the power and pease of mind...
Isnt it a good reason

From that point of view it is a good reason to buy them :)

dont forget that you do get them essentially quickly and the price is in a bear market right now.

Some people are able to achieve more BTC and LTC buying miners available today then getting a preorder and waiting for something that might come.

then again nothing beats buying coins outright at support levels.

Titan will be produced as Neptune in small qts and not all miners will afford to buy one.
So will be room for all type of scrypt ASICS.

A single titan produces more mh/s than the net hash of many of the smaller scrypt coins. Even if just a few were released it would change the game.

This.

Basically it will be inevitable that script mining will go the way of sha256...meaning you have will have no choice but to get Asics to mine once they come into the game, so the point of getting gridseeds is, you need to.

Get asics or hop onto a different algo, most promising seems x11 (possibly the new x13 im hearing about, but that's CPU only so far) or scrypt-n. Secretly rooting for blake-256 but it seems like that'll never take off. Groestl too.