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after playing with BFGM miner I found that you can mine on multiple pools. So you can set your miner to mine on 2 pools, so if one pools slacks on giving you work. Your mining software will point more hashing power towards the pool that is being more efficient. Its called LOAD Balancing.
Would you mind sending me a link of how to set up BFGM miner for multiple pools because i might try to continue to run slush (they have a 2% fee if i remember right) and run on the BTCguild PPLNS. Thanks in advance. I'll do a quick google search, but if you have a link with instructions/information that worked for you, I'd prefer to read into that instead of taking a while reading through potentially outdated/irrelevant information. Also, I would mine litecoins, but there are no asics that I know of for these. |
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which would be perfect because a thermoelectric generator uses the differences in temperature. So if the space between the motherboards and the heatsink/thermoelectric generator can't be reached by the fan, but the other side of the heatsink/thermoelectric generator can be reached by the fan and cooled, then the electrical output will be greater.
Anyway, 2 questions, where did you get your fan and if you're mining using a Erupter, do you even really need a fast computer or can you just use a cheap, semi-crappy desktop?
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The answer is very simple, but I'll explain it for you; yes. Bitcoin will hit $1000 someday.
This is the reason why:
As the US keeps printing money the dollar is more common. A dollars worth is determined by LiquidAssetsBackingAllCurrency/TotalOfCurrencyInCirculation. So if the TotalOfCurrencyInCirculation is increased, but the LiquidAssetsBackingAllCurrency is not increased, the United States dollar loses value. Now, this wouldn't be an issue, but the United States can print as many dollar bills as they would like. With bitcoins the highest amount that can be in existence is 22 million. So being that 22 million is the most that can be in existence, when we hit the 22 million bitcoin max and the bitcoin network of users continues to grow, the Bitcoin/User ratio will grow. As that ratio becomes higher, each bitcoin will gain value.
Thus 1 Bitcoin might eventually = $100,000 if the Bitcoin/User ratio rises and/or the LiquidAssetsBackingAllCurrency/TotalOfCurrencyInCirculation lowers.
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If it wasn't for the fact I just dropped $11,000 on my new used car, I'd definitely be looking into spending a few thousand on hardware (the 1 TH/s that should be out in January?) but I would prefer something that's ready to ship today. Something that's already developed and ready to go as opposed to something that's in development and we're told will be here in December.
On a separate note, I think the heatsinks on the Erupter should be thermoelectric generators which then can be easily connected and pushed into a usb strip to help power it along with the ac power in order to increase the efficiency of the mining units.
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I believe it is. I was looking at it yesterday. If you wait a month, the price drops significantly, but that will be due to the difficulty rising.
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I don't mine with my GPU or CPU and just leave it to the Pi with the Block Erupters 24/7. I have one of those little USB fans to keep them cool also.
Right now I don't plan to add any more block erupters to this setup as I only went from 4 to 6 to see if my calculations/estimations on scaling are correct (so far they are).
Even if I added in my dual sli gtx480s I don't think I could add more than *maybe* one more block erupter in hashing speed.
I'm actually using the information I gather to plan a much much bigger investment with some business partners.
If you don't mind, shoot me a pm because I might want to be involved in your investment. And @the other post, of course the more money you spend, the more money you'll earn. The same is true with just about anything. The guy with the $10,000 car is going to beat the guy with the $1,000 car in a race any day. But the guy with the $10,000 car is going to be beat by the guy with the $100,000 car any day. The point is to spend you money, earn money, reinvest that money, earn more money, repeat the cycle until you have the money to buy the "daddy of all asics" To be honest I think the bigger factor now is more how much hashing power do you have *now* and how quickly can you get more. I could have a billion dollars and throw it into Terraminer IVs but if they wont deliver until Jan, I might be better off buying some of the slower hardware which is shipping now and take advantage of the current market conditions. In the 3 months until Jan I might even be able to pay for the Terraminer IVs.
To be honest, that's why i want the ASICMiner block erupter. It may not have a huge ROI, but it may turn enough money to buy something nicer vs. waiting months or even years for something better that, by the time it shows up, will be equivalent to a GPU today |
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That's actually not too bad for 6 erupters. I plan on buying 11 or 12, mining 24/7 using my CPU, GPU and the erupters, and as i earn bitcoins, buying more erupters to increase my revenue from bitcoin mining exponentially. I think it will just be a side hobby for right now, but if it turns profitable, I'll continue going.
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I personally just have my 6 Block Erupters in a DLink DHUB-H7 with a Raspberry Pi running them.
May i ask roughly how many bitcoins that earns you per day? |
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Hi, so recently I made a post about wanting to buy 12 ASICMiner Block Erupters.
This would cost me about $329.33 for the fan, erupters and USB hub and it would only produce 3.96 Gh/s.
But butterfly labs sells a 5 GH/s Bitcoin Miner with a built in fan and power cord for $274.00 and $4.99 for the USB cord that comes with it.
So my question is, is Butterfly Labs safe to buy from now? I know they had shipping issues before, and I'm really not trying to wait 2 months or more for this product. So does anyone know roughly how long it would take to get the 5 GH/s from butterfly labs?
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If it hasn't been said yet, who pays for porn? These people who use bitcoins are generally tech savvy and realize that not only porn is free, but paid porn can be torrented.
So almost nobody with bitcoins would buy porn. The porn industry is failing.
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Well the reason for the conversion to these "ASIC's" is because their Hashing power versus Power consumption is far more efficient then a GPU. Lets not forget their $ per Mh/s is far cheaper then a GPU as well. Its an Arms Race so it doesn't necessarily mean that you will see your ROI quickly. Mining is fun, so Im not discouraging you to invest and learn something new! As far as the technical details involved with getting your 12 USB array up and hashing. If you google search and/or search the forum you will find a plethora of viable information. I happen to be on BTCguilds website so here is a quick link to their guide. https://www.btcguild.com//index.php?page=support§ion=blockerupter Is it Plug & Play, well the answer is Yes & No  It really depends on your technical foundation and what you consider to be a hurdle &/or what operating system you run. Relatively speaking they are fairly plug and play in Windows. You create an account at a Mining pool, download your mining software. https://github.com/luke-jr/bfgminer or https://github.com/ckolivas/cgminer works well. Install the drivers. http://www.silabs.com/products/mcu/Pages/USBtoUARTBridgeVCPDrivers.aspx Run the miner. Copy & paste your commands & tweak. Utilizing the Raspberry Pi's in an option and you see guys using these because they have alot less power consumption opposed to running a desktop PC all day. I personally do not have a Raspberry Pi but from what I read, it seems simple but there a few more steps to get one setup both on the software side (ie:flashing firmware, connectivity etc ) and on the hardware side of things (ie: are you buying a pre-build Raspberry Pi or are you building one) comparing to straight up Windows PC. Cheers I hope that helps! https://bitcointalk.org/index.php?topic=255582.0Thanks, that helps a lot. I'm currently running a custom designed windows 7 professional laptop with NVIDIA graphics, 32gb of ram and a 64-bit system. What I was primarily looking to know was if I needed a driver or not :p However the additional information is appreciated. I do have another question if you have the time, I'm currently using the Slush pool because I'm just hashing at 10.7 Mh/s using my devices listed in the GUIMiner list, but if I'm running 12 330 Mh/s ASIC's (which I've been told clock in at actually around 336), then using 330 (the average of the advertised amount and the reported amount) * 12 I project to be hashing at 3996 Mh/s (3.996 GH/s). Based on that, in your opinion, would it be more profitable to stick with the Slush pool or switch over to another pool? Are there pools which are constructed based on speed of users, or am I just as well to stick with the Slush pool? Thanks |
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Hi, so I'm new to bitcoin mining, but I'm very interested in getting started just as a hobbiest. I have one problem though. I can see that bitcoin mining is primarily done via ASIC's and thus I'm prepared to order 12 USB Block Erupters with a 12 USB port hub and a fan that will plug into another usb port, but what I don't have a definitive answer on yet is what sort of software you need to install to make an application like GUIMiner or CGminer recognize and utilize these USB ASIC's for processing power. I know some people are using raspberry pi for this, but I've seen videos of set ups that are not using raspberry pi. So is there some special software or driver I need to install to utilize these ASIC's, or are they just Plug-N-Play (for lack of a better term)?
Thanks in advance.
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