A case study in entry-level mining

[isimme]

I don't know what planet you are from, but I've never thought it was fun to lose money on an investment I made.

Sell the mining items you have now, and hope some noob is dumb enough to buy them without doing their research.  Kinda like what you did.

timk225 you are not helping anyone here
and are not making yourself look good.

LogicalUnit invested essentially what was probably
a disposable sum of money. In return he's derived
fun doing a hobby, sharing with the community,
supporting the BTC network,
and longterm as far as fiat in/out will make money
if he stays in longterm holding the BTC
that he has mined.

What have you done,
besides point out the obvious
and totally miss the true value
of this experiment/experience?

[Zakryze]

the true value of this experiment is to warn others to not make the same mistakes.
apart from that the value of the investment is going to be negative.
Stop wasting energy on worthless mining please unless its 100% green energy and its still a waste then. Dont you get it? this planet is not going to be better with everyone wasting energy everywhere and telling himself its a good thing just because its related to bitcoins. Please use or brainpower, if you had kept your coins it would have been more profitable and less harmful to the planet. Mine only if it's sustainable.

[xselam1988]

I don't know what planet you are from, but I've never thought it was fun to lose money on an investment I made.

Sell the mining items you have now, and hope some noob is dumb enough to buy them without doing their research.  Kinda like what you did.

timk225 you are not helping anyone here
and are not making yourself look good.

LogicalUnit invested essentially what was probably
a disposable sum of money. In return he's derived
fun doing a hobby, sharing with the community,
supporting the BTC network,
and longterm as far as fiat in/out will make money
if he stays in longterm holding the BTC
that he has mined.

What have you done,
besides point out the obvious
and totally miss the true value
of this experiment/experience?

Yea, I kinda lose money mining.
Does anyone here dare to say they never lose money when mining?
AValon, BFL, KNC or cointerra never and never will earn you money.
But the point is that when I goto my garage I felt so happy spending all night tweaking and optimizing my gadgets.

[xTachibana]

the true value of this experiment is to warn others to not make the same mistakes.
apart from that the value of the investment is going to be negative.
Stop wasting energy on worthless mining please unless its 100% green energy and its still a waste then. Dont you get it? this planet is not going to be better with everyone wasting energy everywhere and telling himself its a good thing just because its related to bitcoins. Please use or brainpower, if you had kept your coins it would have been more profitable and less harmful to the planet. Mine only if it's sustainable.

are you a hippy? you are using the internet, stop wasting energy, dont be a hypocrite.

[AndrewWilliams]

How the hell did this turn into a debate about green energy?



This topic of entry-level mining, is quickly becoming Obama-fied.

[Zakryze]

the true value of this experiment is to warn others to not make the same mistakes.
apart from that the value of the investment is going to be negative.
Stop wasting energy on worthless mining please unless its 100% green energy and its still a waste then. Dont you get it? this planet is not going to be better with everyone wasting energy everywhere and telling himself its a good thing just because its related to bitcoins. Please use or brainpower, if you had kept your coins it would have been more profitable and less harmful to the planet. Mine only if it's sustainable.

are you a hippy? you are using the internet, stop wasting energy, dont be a hypocrite.

i have a green supplier you fool and therefor support the green revolution so dont call me a hypocrite you fool.

[LogicalUnit]

The Fast And The Furious

Three new Blue Fury ASICs arrived in the post today. After a lot of fiddling, I got them working beside my 10 Block Erupters in a third DUB-H7.

More here:

http://minepeon.com/forums/viewtopic.php?f=3&t=563&start=10

[LogicalUnit]

Grrr, I'm having lots of stability issues running three hubs from the RPi's two USB ports. I've removed one hub, so now I'm running 5x USB Erupters and 3x Blue Fury ASICs (+1 wireless dongle)

[tom_o]

Grrr, I'm having lots of stability issues running three hubs from the RPi's two USB ports. I've removed one hub, so now I'm running 5x USB Erupters and 3x Blue Fury ASICs (+1 wireless dongle)

The pi's USB out is from a hub anyway. Try plugging the hub that will be daisy chained into the very first port of one of the hubs.

[LogicalUnit]

Grrr, I'm having lots of stability issues running three hubs from the RPi's two USB ports. I've removed one hub, so now I'm running 5x USB Erupters and 3x Blue Fury ASICs (+1 wireless dongle)

The pi's USB out is from a hub anyway. Try plugging the hub that will be daisy chained into the very first port of one of the hubs.

Good suggestion but I still get two unstable Block Erupters when this happens.

[LogicalUnit]

Woohoo, I think I've got it all working. The trick was to put only 3 ASICs in the daisy-chained hub.

[LogicalUnit]

I was right

BitCoin just hit AUD$870. If I had not reinvested, I would have made a profit. Not as much as if I'd just bought and held BTC, but all the naysayers about never achieving ROI have been -- suddenly -- proven wrong. My original prediction that the price of BTC would go up as more people adopted it was spot on.

[Trongersoll]

I was right

BitCoin just hit AUD$870. If I had not reinvested, I would have made a profit. Not as much as if I'd just bought and held BTC, but all the naysayers about never achieving ROI have been -- suddenly -- proven wrong. My original prediction that the price of BTC would go up as more people adopted it was spot on.

Go with your gut. 

[freedomno1]

I was right

BitCoin just hit AUD$870. If I had not reinvested, I would have made a profit. Not as much as if I'd just bought and held BTC, but all the naysayers about never achieving ROI have been -- suddenly -- proven wrong. My original prediction that the price of BTC would go up as more people adopted it was spot on.

Well that was never in doubt for me price rising a lot that is
Congrats on Making ROI XD

[madcratebuilder]

How the hell did this turn into a debate about green energy?



This topic of entry-level mining, is quickly becoming Obama-fied.

Coffee on my monitor!  That's funny!

I'm a noob, so what.  If I had listened to all these nay sayers about never getting roi I would not have started mining 3 months ago.  Fuck roi, I've made a profit and everything is paid for.  I've sold the btc's I have mined, paid for all equipment.  The equipment is worth as much if not more than I paid for it.  It's win win dixie.  As difficulty increases so does the value of btc's, it's a wash.

[AndrewWilliams]

Coffee on my monitor!  That's funny!

I'm a noob, so what.  If I had listened to all these nay sayers about never getting roi I would not have started mining 3 months ago.  Fuck roi, I've made a profit and everything is paid for.  I've sold the btc's I have mined, paid for all equipment.  The equipment is worth as much if not more than I paid for it.  It's win win dixie.  As difficulty increases so does the value of btc's, it's a wash.

Congrats! That's what it's all about - listening to your gut. 

[LogicalUnit]

Sell, sell, sell

Just sold my 10 block erupters for 0.035 BTC each plus shipping. I'm left with 3 Blue Fury ASICs, mining at 6,427 MH/s.

[tagged]

Yea, I kinda lose money mining.
Does anyone here dare to say they never lose money when mining?
AValon, BFL, KNC or cointerra never and never will earn you money.
But the point is that when I goto my garage I felt so happy spending all night tweaking and optimizing my gadgets.

HAHHAHAHHAHAHAHHAHAHHAHAHAHAHAHAHA   I really did start laughing when I read this!  so funny what people "know"  

I got into mining for fun and to sell hardware, but yes, you can make money with those products.  Not sure i would buy the next wave of 2Th machines...   I would guess we will be at 5 billion by the end of 3rd q. would LOVE to be wrong tho

[kabopar]

Hi LogicalUnit,
I have been following your mining blog, and learnt some things from your lessons.  Following a similar path here, although started with GPUs, then BE's, then BF's and now augmented by some Drillbit miners (An Aussie product from Sydney!).
Enjoy your journey (and ignore the nay-Sayers).

Cheers

[LogicalUnit]

Stability Improvements

I've been having some issues with instability, and I'm pretty sure it's related to my wireless connection. I've rejigged my home network and the RPi now has a wired connection. Hooray!!