Entry level miners

[BugJuice]

Hi, everyone. I've read numerous post on the these forums about the USB ASIC Eruptors...but the answers i get vary so much on the terms of ROI and is it worth it. First of all let me lett you i don't have much money to throw around. Right now i am kinda all caught up in the cryptocurrency thing. It intrigues me. Anyways i noticed the price of BTC dropping relatively fast over this past week.    Thats either a time for me to run or buy some BTC. Regardless of the BTC drop i see the eruptors haven't dropped in price. I see the sell for about 1.05 BTC and off of localbitcoin i see BTC selling at 74.46 USD per BTC. If i do my math (hopefully I am doing it right) id get 1 eruptor for about ~$78.00 USD. Id make a purchase of 5 eruptors though. $390.00 USD. I would be able to run these guys with free power and i did my resarch they pump out ~330 mHash/s x5 = 1650. I am aware of this difficulty change.

My question is under these circumstances would you think it would be worth it to start mining. I am mainly concerned with breaking even. Because ill see it as more of a hobby after i break even with hopefully some spare coin on the side as i am not looking to quit my day job.

[pollard86]

Why don't just buy 5 Bitcoins at current price ($78) and forget for a year or two?

[BugJuice]

That dosent seem much fun. I was planning on setting up the raspberry pi miner. seemed fun to build. Just sitting on an investment does not seem fun.

[mjc]

I think this article will help you figure things out.  It will atleast fill in the gap as to how much you can earn.

http://bitcoinsbs.wordpress.com/2013/06/27/quick-math-what-will-my-mining-rig-bring-in/

Keep in mind that it looks like BFL has about 500 - 700 TH of back log, KNC looks to have about 250 to 200 TH.  Avalon and ASIC Miner still have additional output.

So if you are just now thinking of buying consider the fact that before you get your equipment the hash rate will be over 1 PH.

[BugJuice]

I thought those miners are back ordered for about 5 months giving us some leeway.

[mjc]

They are being delivered as we speak.  Well the BFL ones are.  KNC is right around the corner.  I'm mining with 1.6 GH and only bringing in 0.04 BTC a day.  I picked them up last Sept, so I've made my ROI a long time ago.  So its worth it to still mine.

[cowanjeffrey93]

Delivery is ongoing. Peoples are receiving this device.

[Bigcheezit210]

Why don't just buy 5 Bitcoins at current price ($78) and forget for a year or two?

I did that with Litecoins, I bought 5, waited around 3-4 months, and then boom the price went up and I pocketed a profit.

[HELLNAUT]

TBH GPU mining is probally reached the end of its course...
ive personally got x3 7970 and they are hashing at over 600mh each .
wether you can invest in an asic that provides more returns on the $$$ and obviouisly less electricity cost.

why dont you try checking out btcguild they are selling block eruptor blades right now for US residence only.
and i believe soon they taking it international.
again i stress this is based on supply and demand.

the more people that want to mine will have the chance to get a stronger network.
and on the investment of purchasing an asic. consider if you have enough money to purchase one.
how reputable the company you are purchasing from are.

also what are your overheads for going through with this project.
I mean if your budget is 500$ then stick to 500$ then after this investment youll have an idea of what your return will be.
Better to bet on something you researched on compared to just throwing your money away....

Good luck

[yellowloving]

seems like a fairly sound idea