Does this USB minergood for altcoin mining?

[gokayc]

Hello Guys!

I'm new to mining. Nowadays reading about altcoin mining and trying to get some idea.

So my question about this miner.

http://www.ebay.com/itm/Bi-Fury-5-GH-s-3-0-USB-Bitcoins-Fastest-Miner-0-9A-na-port-for-Digital-Currency-/252391520913?hash=item3ac3b4fa91:g:mRUAAMXQ1d1TJhOo

It says Bitcoin miner but I want to use this for altcoin mining such as dash, Eth, Xmr, Ltc ...

Is that possible? I just want to use USB miner with my laptop. At this point I dont wan to buy Graphic Cards.

Which USB miner do you recommend for altcoin miner?

And does it worth to spend energy or money?

Thank you very much in advance.

[altcoinhosting]

Hello Guys!

I'm new to mining. Nowadays reading about altcoin mining and trying to get some idea.

So my question about this miner.

http://www.ebay.com/itm/Bi-Fury-5-GH-s-3-0-USB-Bitcoins-Fastest-Miner-0-9A-na-port-for-Digital-Currency-/252391520913?hash=item3ac3b4fa91:g:mRUAAMXQ1d1TJhOo

It says Bitcoin miner but I want to use this for altcoin mining such as dash, Eth, Xmr, Ltc ...

Is that possible? I just want to use USB miner with my laptop. At this point I dont wan to buy Graphic Cards.

Which USB miner do you recommend for altcoin miner?

And does it worth to spend energy or money?

Thank you very much in advance.

First off: the miner in that link is waaaay overpriced. $85 for a 5 Ghs usb mining stick is allmost a scam.
Secondly, no, you can only use this miner to mine coins that use the sha256 algorithm.

For example, the altcoins in this list could potentially be mined with that stick, if it wasn't to slow and power inefficient to actually use: http://www.coinwarz.com/miningprofitability/sha-256

Good thing you asked around on this forum first, because you would have thrown away $85 if you bought it straight away.

[gokayc]

First off: the miner in that link is waaaay overpriced.
No, you can only use this miner to mine coins that use the sha256 algorithm.

Thank you very much for your answer. Do you know any USB miner which I can use it with my laptop for altcoin mining? Or no matter what I have to set a graphic card system?

[altcoinhosting]

First off: the miner in that link is waaaay overpriced.
No, you can only use this miner to mine coins that use the sha256 algorithm.

Thank you very much for your answer. Do you know any USB miner which I can use it with my laptop for altcoin mining? Or no matter what I have to set a graphic card system?

At the moment, GekkoScience Compac would be the best usbstick miner on the market today.
It should cost about 50 bucks for a 23Ghs stick.

That being said: you'll need to mine for a really, really, really long time without any power cost to recuperate those 50 bucks. If you even pay 1 or 2 cents per kwu, you'll probably never ROI (return on investment = break even).

Bottom line: USB stick miners are a learning tool nowadays, buy them to learn how to mine, but don't expect any profit from them.

If you have a good power price, you could potentially mine altcoins using a GPU, or you could invest in an antminer S7 or S9, but you need to calculate all the costs and problems before even thinking about buying one.

[gokayc]

First off: the miner in that link is waaaay overpriced.
No, you can only use this miner to mine coins that use the sha256 algorithm.

Thank you very much for your answer. Do you know any USB miner which I can use it with my laptop for altcoin mining? Or no matter what I have to set a graphic card system?

At the moment, GekkoScience Compac would be the best usbstick miner at the market today.
It should cost about 50 bucks for a 23Ghs stick.

That being said: you'll need to mine for a really, really, really long time without any power cost to recuperate those 50 bucks. If you even pay 1 or 2 cents per kwu, you'll probably never ROI (return on investment = break even).

Bottom line: USB stick miners are a learning tool nowadays, buy them to learn how to mine, but don't expect any profit from them

Can I  mine all altcoin with that miner? (Especially these altcoins;  dash, Eth, Xmr, Ltc...)

And How can I calculate my approximate profit? For example this website;

https://www.cryptocompare.com/mining/calculator/dash

[altcoinhosting]

First off: the miner in that link is waaaay overpriced.
No, you can only use this miner to mine coins that use the sha256 algorithm.

Thank you very much for your answer. Do you know any USB miner which I can use it with my laptop for altcoin mining? Or no matter what I have to set a graphic card system?

At the moment, GekkoScience Compac would be the best usbstick miner at the market today.
It should cost about 50 bucks for a 23Ghs stick.

That being said: you'll need to mine for a really, really, really long time without any power cost to recuperate those 50 bucks. If you even pay 1 or 2 cents per kwu, you'll probably never ROI (return on investment = break even).

Bottom line: USB stick miners are a learning tool nowadays, buy them to learn how to mine, but don't expect any profit from them

Can I  mine all altcoin with that miner? (Especially these altcoins;  dash, Eth, Xmr, Ltc...)

And How can I calculate my approximate profit? For example this website;

https://www.cryptocompare.com/mining/calculator/dash

Same thing... It's an ASIC... Apart from a few exceptions like the gridseed dualminer, an ASIC is designed to only use one hashing algorithm... It's basically hardware that was designed to apply one mathematical function (in this case sha256).

This means this ASIC can only mine coins that use the sha256 algorithm (list in my previous post).

At the moment, there are ASIC's for sha256 and scrypt. If you buy an scrypt asic, you can mine scrypt coins (like litecoin, dogecoin, viacoin,...). If you buy an sha256 asic, you can mine sha256 coins. As soon as these ASIC's hit the market, it became virtually impossible to mine sha256 or scrypt coins using a GPU and a CPU because those asic's were far superior both in speed and power consumption, making it economically hard to use anything else to mine.

If you want to mine anything else (a coin not using sha256 or scrypt), you'll need a GPU for most of them (only certain specific GPU's are suitable to mine economically).
There are some, very specific, algorithms that can best be mined with a CPU, or by using a fast harddisk or a lot of memory, but a laptop cpu, HD or memory are not good enough to mine these coins either.

btw: about the gridseed dualminer, it has a chip that is designed to mine sha256 and scrypt at the same time, but it does a horrible job (both in speed and power consumption), especially for sha256. It already did a bad job when it was brand new, let alone now...

[gokayc]

First off: the miner in that link is waaaay overpriced.
No, you can only use this miner to mine coins that use the sha256 algorithm.

Thank you very much for your answer. Do you know any USB miner which I can use it with my laptop for altcoin mining? Or no matter what I have to set a graphic card system?

At the moment, GekkoScience Compac would be the best usbstick miner at the market today.
It should cost about 50 bucks for a 23Ghs stick.

That being said: you'll need to mine for a really, really, really long time without any power cost to recuperate those 50 bucks. If you even pay 1 or 2 cents per kwu, you'll probably never ROI (return on investment = break even).

Bottom line: USB stick miners are a learning tool nowadays, buy them to learn how to mine, but don't expect any profit from them

Can I  mine all altcoin with that miner? (Especially these altcoins;  dash, Eth, Xmr, Ltc...)

And How can I calculate my approximate profit? For example this website;

https://www.cryptocompare.com/mining/calculator/dash

Same thing... It's an ASIC... Apart from a few exceptions like the gridseed dualminer, an ASIC is designed to only use one hashing algorithm... It's basically hardware that was designed to apply one mathematical function (in this case sha256).

This means this ASIC can only mine coins that use the sha256 algorithm (list in my previous post).

At the moment, there are ASIC's for sha256 and scrypt. If you buy an scrypt asic, you can mine scrypt coins (like litecoin, dogecoin, viacoin,...). If you buy an sha256 asic, you can mine sha256 coins.

If you want to mine anything else, you'll either need a GPU for most of them.
There are some, very specific, algorithms that can best be mined with a CPU, or by using a fast harddisk or a lot of memory, but a laptop cpu, HD or memory are not good enough to mine these coins either.

btw: about the gridseed dualminer, it has a chip that is designed to mine sha256 and scrypt at the same time, but it does a horrible job (both in speed and power consumption), especially for sha256. It already did a bad job when it was brand new, let alone now...

For example when I consider this one; "GekkoScience Compac" It says;  8-11gh/s mining speed , 31-.35 watts per gh!.

So when I fill all information about this miner at this webpage; https://www.cryptocompare.com/mining/calculator/dash

Like this;

Hashing Power: 10 GH/s

Power consumption (w): 350

Cost per KW/h ($): 0.3

So It shows $ 3,384.23 per month. Where do I do mistake?

Thank you very much again for your answers and your precious time.   

[altcoinhosting]

For example when I consider this one; "GekkoScience Compac" It says;  8-11gh/s mining speed , 31-.35 watts per gh!.

So when I fill all information about this miner at this webpage; https://www.cryptocompare.com/mining/calculator/dash

Like this;

Hashing Power: 10 GH/s

Power consumption (w): 350

Cost per KW/h ($): 0.3

So It shows $ 3,384.23 per month. Where do I do mistake?

Thank you very much again for your answers and your precious time.   

https://www.dash.org/x11/
Dash uses the X11 algorithm... It simply cannot be mined with an sha256 ASIC. Only sha256 coins can be mined with a sha256 ASIC.

Usually, bitcoin is one of the best things to mine with a sha256 ASIC. From time to time, other sha256 altcoins do slightly better.

Here is a calculation at current difficulty, block reward and bitcoin price. I've assumed a very cheap electricity rate of 5 cents/Kwu:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=23&p=7&pc=0.05&pf=1.00&d=258522748404.51500000&r=12.50000000&er=640.87000000&hc=50
The block reward will halve in less than 4 years, the diff is rising and the price fluctuates all the time.
In other words, it'll take at very least 20 years to recuperate your $50 investment, not counting the laptop price and power, nor the changes in diff, price and block reward (so in reality, you'll never recuperate your investment).

For X11 mining, you'll need a GPU, and it'll produce far less hashrate while using far more power...

If you sort this table:
http://www.mininghwcomparison.com/list/index.php?brand=both
and only look at X11, you'll see that even the best GPU's reaches only 30 Mh/s (that's 1000 times less than 30 Gh), the power consumption isn't listed, but rest assured it'll be more than the 7 Watts a geccoscience compaq uses when running

[gokayc]

For example when I consider this one; "GekkoScience Compac" It says;  8-11gh/s mining speed , 31-.35 watts per gh!.

So when I fill all information about this miner at this webpage; https://www.cryptocompare.com/mining/calculator/dash

Like this;

Hashing Power: 10 GH/s

Power consumption (w): 350

Cost per KW/h ($): 0.3

So It shows $ 3,384.23 per month. Where do I do mistake?

Thank you very much again for your answers and your precious time.   

https://www.dash.org/x11/
Dash uses the X11 algorithm... It simply cannot be mined with an sha256 ASIC. Only sha256 coins can be mined with a sha256 ASIC.

Usually, bitcoin is one of the best things to mine with a sha256 ASIC. From time to time, other sha256 altcoins do slightly better.

Here is a calculation at current difficulty, block reward and bitcoin price. I've assumed a very cheap electricity rate of 5 cents/Kwu:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=23&p=7&pc=0.05&pf=1.00&d=258522748404.51500000&r=12.50000000&er=640.87000000&hc=50
The block reward will halve in less than 4 years, the diff is rising and the price fluctuates all the time.
In other words, it'll take at very least 20 years to recuperate your $50 investment, not counting the laptop price and power, nor the changes in diff, price and block reward (so in reality, you'll never recuperate your investment).

For X11 mining, you'll need a GPU, and it'll produce far less hashrate while using far more power...

If you sort this table:
http://www.mininghwcomparison.com/list/index.php?brand=both
and only look at X11, you'll see that even the best GPU's reaches only 30 Mh/s (that's 1000 times less than 30 Gh), the power consumption isn't listed, but rest assured it'll be more than the 7 Watts a geccoscience compaq uses when running

I undertstand better now. Thank you so much.

[QuintLeo]

There are ASIC for X11 - the Baikal is the highest efficiency one - but like ANY ASIC, they can only be used on the specific algorythm(s) they are designed to be used on.

That is the tradeoff of CPU and GPU in mining - higher flexability but less efficient.

[kanazawa]

Cut off that history of mining with USB dongles. The time to do this has passed many years ago. Now you can't even mining well with powerful GPU or exclusive powerful ASIC. Many other things are related to, so even if you mine BLABLABLACOIN it will need decent processing and lotta energy "stuffs" (I won't talk about it here because there are tons of thread about this here in the forum). So.... that's it bro... leave this idea away  

[HotAmericano]

That is the past, you cannot make any worth amount of coins now with USB miner. Now is the era of ASIC
For some altcoins, you can still can use GPU power, but in my humble opinion, USB miner is out of dated for now, at least for what I know.

[gokayc]

Yea It looks complicated, and doesn't worth your energy, money and time. So yea I think I'm not gonna give a try it.

Thanks all of you alot for your answers and guidance.

[carlfebz2]

Same as other said  $85 on a  usb  miner  is too way  overpriced  and you cant able  to get roi with that  its  just useless  and  such a waste of  money, effort and time.
Better to save  more money  to buy asic miners which is  somehow a good way to start  mining.