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Author Topic: [Announcement] Block Erupter USB  (Read 248430 times)
ecliptic
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May 05, 2013, 01:22:54 AM
 #141

For ROI calculations, I ignore the exchange rate and use this simplified formula - It's not exact, but it's a quick way to do it:

Cost = 1.99 btc

Network Hash Rate = 78,000 Gh/s

My hash rate = .3 Gh/s

My Share of the Network = .3 / 78,000

Blocks found / day = 144

Block Reward = 25

Therefore, i will earn:

.3 / 78,000 * 144 * 25 = 0.013846154 BTC / day.

My ROI in days:

ROI (in days) = 1.99 / 0.013846154 = 144 days. about 4 3/4 months.

This doesn't consider an increase in network hash rate, which I estimate will cut profits in half every month until October. Considering difficulty increases the ROI is a little longer than 1 year.

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


If this key is not efficient enough ... what about all the GPUs that are a good proportion of the network ? ASIC is coming... but at what speed ? transition is not going to be quick. ASICMiner being the fastest, followed by DIY project for avalon chips. bfl ... is going to be soooo slow ...

there will be far more hashing powered added by asics than is taken from GPUs

keep in mind, mining litecoin / etc scrypt-coin, and simply trading them for BTC, has been consistantly more profitable than mining BTC for months now.  In fact i don't think it ever was NOT more profitable.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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Noitev
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May 05, 2013, 01:38:51 AM
 #142

I am going to buy so many of the sapphire batch...

edit: 2 btc wholesale? why so expensive???

ATC
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May 05, 2013, 01:45:19 AM
 #143

“Adding a LED which blinks when a share is found”

Is it a default set for the LED blinks?
Can I turn off the LED blinks?
Sometimes I don't like it blinks, but somethimes I like it so I can show it to my friends.

BTW, I will buy 10 if it prices at 1 Bitcoin.
As 2 Bitcoin, at most I can afford 1 USB.

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May 05, 2013, 01:49:32 AM
 #144

BTW, I will buy 10 if it prices at 1 Bitcoin.
As 2 Bitcoin, at most I can afford 1 USB.

Quoted for those who think ASICMINER is charging too much.   Grin

Of course everyone wants them cheap, but these are the only ASIC devices available right now, and there is a limited number that can be produced. They are going to sell out @ BTC2 as fast as they can ship them. Nothing is free, this isn't a get rich quick scheme for customers.
dvdrewritable
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May 05, 2013, 01:58:10 AM
 #145

Those who were hoping to pay $50 and make a massive profit instantly... I don't feel sorry for you. That's not how business works.

If you wanted to make 10x returns on your BTC, you should have taken the risk and invested in ASICMINER's IPO. You can't expect a successful company to give away products for far less than what people are willing to pay for them.

Actually I don't think any serious person was naive enough to assume they would make huge profits from a keychain miner, attraction was mainly for novelty purposes and as a stopgap during the delay in more capable ASIC being deployed to masses, since AM has proved credibility and can give short lead time.

I think a lot of people are NOT purchasing at this pricepoint- not because they won't make $$, but for the simple reason that they will not even recoup the cost of the investment, (from conservative predictions about the future increase in network power and diff) and this device has little to no resale value, and no alternate applications, it's just make no sense.

I imagine they would of sold like hotcakes at a lower price point, regardless there will be people willing to pay this inflated amount.. so smart to limit qty to bulk and have the retail take a mark up on end users, at least shareholders getting paid nicely, and they can pump this to the less savvy.

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May 05, 2013, 02:11:38 AM
 #146

What's the historical failure rate of this company? If you get a DOA or early failure, it'll be tough to get support as they only deal with groups of 10 failures.
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May 05, 2013, 02:17:03 AM
 #147

Are these capable of mining other sha256 coins?
Bogart
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May 05, 2013, 03:03:12 AM
 #148

Are these capable of mining other sha256 coins?

Specification
Mining Protocol: Icarus

It appears to me that they would be capable of such a thing.

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
wrenchmonkey
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May 05, 2013, 04:10:38 AM
 #149

This isn't about high ROI guys.. that is a moving target anyway.

ROI seekers can build their own from ASIC chips. R&D and production still cost you know!!


Since I am running a ModMiner I would love to add these to my old p4 rig with it.

I'd buy 4 right now ~ can you ship?   Grin





It's not about "High ROI" It's about ANY ROI. PERIOD, or it's not worth buying. This thing will never break even at 2BTC.

I get that R&D costs something. The chip cost is about $11 (retail) meaning their cost is probably $5-$7, but we'll use retail costs. Consider another $15 for the board and components, and assembly. At .5 BTC, that leave them another $24/unit to cover their R&D/profit.

Now, I'm feeling pretty confident in saying that they'll sell at least 30* as many units at a more reasonable price point. If they're making 3000% the sales, at .142% of the profit margin, they'll make 428% more profit in the long run.

Not to mention that this price will remain more sustainable for a longer period of time, because the ROI will still be closer to break-even.

They're shooting themselves in the foot, trying to get rich quick. They'll sell a few of these for WAAAY too much money, on the short term. And then they won't sell any in the longer term. And eventually these chips become about as worthless as a 16MB USB flash drive...

Block Erupter Overclocking 447 M/Hash, .006 (discounts if done in quantity) https://bitcointalk.org/index.php?topic=300206.msg3218480#msg3218480

Buy and sell mining shares (Bitfury). https://cex.io/r/1/wrenchmonkey/0/
ffernandex
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May 05, 2013, 04:14:19 AM
 #150

Can these be used for scrypt --litecoins, feathercoins?

How many can I hook up to one motherboard using hubs? can I fit 20?

Thanks!

If you like my posts, feel free to donate!
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May 05, 2013, 04:16:11 AM
 #151

Can these be used for scrypt --litecoins, feathercoins?

How many can I hook up to one motherboard using hubs? can I fit 20?

Thanks!

They can NOT be used for scrypt.

Making Apps and Websites for people. I charge reasonable rates ($30-40/hour in BTC).
arklan
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May 05, 2013, 04:17:46 AM
 #152

Can these be used for scrypt --litecoins, feathercoins?

How many can I hook up to one motherboard using hubs? can I fit 20?

Thanks!

no. they cannot mine scrypt based coins.

gotta be powered hubs, obviously, but i don't see why 20 would be an issue. ...i think. i'm not a USB expert.
wrenchmonkey
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May 05, 2013, 04:33:29 AM
 #153

BTW, I will buy 10 if it prices at 1 Bitcoin.
As 2 Bitcoin, at most I can afford 1 USB.

Quoted for those who think ASICMINER is charging too much.   Grin

Of course everyone wants them cheap, but these are the only ASIC devices available right now, and there is a limited number that can be produced. They are going to sell out @ BTC2 as fast as they can ship them. Nothing is free, this isn't a get rich quick scheme for customers.

I guess I shouldn't be surprised if they actually sell these out. The world is FULL of idiots... Oh well. Your money...

Block Erupter Overclocking 447 M/Hash, .006 (discounts if done in quantity) https://bitcointalk.org/index.php?topic=300206.msg3218480#msg3218480

Buy and sell mining shares (Bitfury). https://cex.io/r/1/wrenchmonkey/0/
fpgaminer
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May 05, 2013, 05:03:27 AM
 #154

Congratulations on your progress thus far, ASICMINER team!

Quote
This batch will be given away to miners, fans and hardware/software developers made the assignments to us long before. It has some issues working with cgminer, but the modular python miner works fine.
Speaking of which, did you donate one to TheSeven, author of MPBM?

CanaryInTheMine
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May 05, 2013, 05:29:46 AM
 #155

Reserved for extension of contents.

The USB stick miner is going to bring BitCoin to the masses, beyond the geeks and hardcore or occasional miners.  This will make it mainstream.

Make this THE toy to buy for Christmas!!!

Congrats on making history!

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Phil21
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May 05, 2013, 05:40:44 AM
 #156

these are not made for mining farms Smiley

I agree the wholesale cost is way too high, but I'm sure the initial batch will have no problems selling out.  I'm more interested to see what happens with follow-on sales.
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May 05, 2013, 05:56:54 AM
 #157

Where is appropriate to open a group buy thread?  Tongue

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May 05, 2013, 05:59:02 AM
 #158

By the way, for the great wealth of masses getting heartburn over the current cost:

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Lowering your price is always easier than raising your price.

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May 05, 2013, 06:11:09 AM
 #159

Where is appropriate to open a group buy thread?  Tongue
Probably Custom Hardware? https://bitcointalk.org/index.php?board=76.0

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chaxattack
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May 05, 2013, 06:53:10 AM
 #160

Anyone know where I could find a cheap usb hub that will handle the increased (above spec.) power needs?
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