Do butterfly miners provide exact GH/s they say?

[kazlas]

Hi, I'm complete noob and it's been 3 days I've found out about bitcoin. I see this http://products.butterflylabs.com/homepage/4-5gh-bitcoin-miner.html so called "jalapeno" and according to the calculations it'll generate ~0.46 BC a day. If I ran it 24/7 that would be a decent salary in terms of my country amd I want to buy something cheap to test it out.

One thing that boggles my mind is when I watch videos on youtube I often see people testing butterfly stuff and it's usually ~800MH\s http://www.youtube.com/watch?v=neHHrC3qgIE for the a lot more expensive miner! And according to their commercial it's supposed to be 60GH/s... So that's more than 60x slower!

Are these numbers in their website created out of thin air or is it something that I'm unaware of? My goal with 4.5GH/s jalapeno is to generate at least 600$ worth of bitcoins a month. Will single 149$ jalapeno will be able to do that?

[SolarSilver]

Are these numbers in their website created out of thin air or is it something that I'm unaware of? My goal with 4.5GH/s jalapeno is to generate at least 600$ worth of bitcoins a month. Will single 149$ jalapeno will be able to do that?

If you order this device right now, you will get it in the summer. By then, difficulty will have skyrocketed and you will only earn a few cents per day

http://bitcoindifficulty.com/

Remember, if it sounds too good to be true, it's probably not going to be true

[vnon]

As the network's overall hash rate increases, so does difficulty. The newer devices from BFL (Jalapeno etc),which haven't shipped yet, use ASIC chips which are suppose to give huge increases in efficiency and speed compared to their older devices, which is what you saw in the videos. As more and more miners trade out their video cards for ASICs from a few different vendors, the network hash rate will skyrocket increasing difficulty and dropping your gains substantially.

edit: As for the question in the topic, there has been no released benchmark or independent testing and verification of their hash rate claims. The only information available is BFL's claims.

[Synapse_On_Slush]

As I said on another thread here:

I was doing some calculations and found something a little worrying, I was going to pre-order an ASIC until I established this...

Apologies if my notes are a bit scruffy but here goes;

Currently:
My 7970 GPU: £285
my current hash rate: 0.6 GH/s
the total world hash rate: 30,000 GH/s

This means I have a 0.002% share of hash rate. Earning ~£1.50 a day.

If we look at the publicly known BFL ASIC pre-orders:
(https://bitcointalk.org/index.php?topic=89685.0)
If I ordered the Mini Single SC for: £450
My hash rate would then be: 30 GH/s
the total world hash rate at that point would be: 60,000,000 GH/s

So then I would have a 0.00005% share of the hash rate. Earning just ~£0.03 per day.

And as this only accounts for the BFL sales (the ones we know about). If you throw in the Avalon and unknown BFL orders, your talking about earning less than £0.01 per day!

Which means... Once those people that have pre-ordered finally get their ASICs. No one will ever get back their investment (except the first few who get theirs early).

I assume I must have made a mistake here somewhere otherwise, everyone is walking into a money pit

--------

Just spotted my mistake;

If we look at the publicly known BFL ASIC pre-orders:
(https://bitcointalk.org/index.php?topic=89685.0)
If I ordered the Mini Single SC for: £450
My hash rate would then be: 30 GH/s
the total world hash rate at that point would be: 90,000 GH/s

So then I would have a 0.03% share of the hash rate. Earning just ~£15.00 per day.

Hmmm, sounds a bit better now

[steeldog803]

I ordered 2 singles from BFL back in October. Cancelled my order in January and just bought coins instead. Good thing I did right before the price went up.

[bitcoinnix]

This seems like it will be a long shot to recoup $1300 USD on a 60GH/s unit if you order now and it arrives in the late summer.

I'm wondering if there will be an exodus from bitcoin mining once people can't make their money back from their HW investments and people will jump on LiteCoin etc.

[kazlas]

Oh man thanks guys for the replies. I kinda sounded too good to be true hehe. I guess I'll just buy some coins and trade them for dollars.

[MagicBit15]

(For one) I don't think it even exists. (For two), 4.5g you would be making more than a few cents a month? I have no idea who said that. But I would recommend if you did do that to join a mining pool at the minimum.

Honestly, I would say don't hold your breathe. Look into the Avalon ASIC's once they accept another batch or build a decent rig 5-10 gig +.

[SolarSilver]

I guess I'll just buy some coins and trade them for dollars.

Actually that strategy has proved to be more profitable for many mining hardware buys in the last 12 months... including ASIC and FPGAs

If you were lucky enough to be able to buy an Avalon last September 2012, you would have paid $US 1359. But you had to pay in BTC, which was BTC 112 at the time.

Those BTC are today worth $USD 5264

That is a profit without having to worry about customs, or power consumption. Or if the ASIC would even be delivered ;-)

An Avalon delivered last Friday would have produced about BTC 45 in 7 days but day after day, when more ASIC power joins the network, it will earn less each day

check this article http://organofcorti.blogspot.be/2013/03/911-asic-choices-avalon-and-bfl-earnings.html