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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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west17m
Member
 Offline
Activity: 61
Merit: 10
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June 30, 2013, 04:04:55 AM |
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It's a nice way to incrementally increase your hashing power to keep up with the increasing difficulty. I think I'd buy and hold or trade BTC vs fiat if I weren't already mining and wanted to start. If you're sitting on a ton of BTC, buying them and selling them on ebay or betting on larger scale asic rigs make more sense. Most of us are not in that situation though. My 0.02USD.
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SilentSonicBoom
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June 30, 2013, 04:16:28 AM |
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It's a nice way to incrementally increase your hashing power to keep up with the increasing difficulty. I think I'd buy and hold or trade BTC vs fiat if I weren't already mining and wanted to start. If you're sitting on a ton of BTC, buying them and selling them on ebay or betting on larger scale asic rigs make more sense. Most of us are not in that situation though. My 0.02USD.
USB miners are somewhat of a novelty. However, at the current price, they may break even after a year. Maybe not. The answer to the OP question is that is in the eye of the beholder. |
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Bitcoinorama
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June 30, 2013, 08:31:34 AM |
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No
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Make my day! Say thanks if you found me helpful  BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp |
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Bicknellski
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June 30, 2013, 09:11:20 AM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
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norulezapply
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June 30, 2013, 04:56:05 PM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
It would probably fly over most people's heads, let alone children.. |
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Foofighter
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June 30, 2013, 04:56:44 PM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
+1 |
ex official Canaan Distributor (Cryptouniverse)
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Bicknellski
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June 30, 2013, 05:01:57 PM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
It would probably fly over most people's heads, let alone children.. We will see in September when we introduce it to our class of 13 year olds. I bet you are wrong. |
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shmadz
Legendary
Offline
Activity: 1512
Merit: 1000
@theshmadz
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June 30, 2013, 05:20:19 PM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
It would probably fly over most people's heads, let alone children.. We will see in September when we introduce it to our class of 13 year olds. I bet you are wrong. I'd be very interested to see the contrast between the average South-East Asia classroom and the average North America classroom... In my experience and observation, NA school system in general is less about learning and more about popularity and social status. Sample conversation with a typical NA 13 year old: Teacher: ... and this is a bitcoin miner. It performs millions of calculations every second to... Student: (interrupts) Will it update my Facebook? Teacher: ?? Well, no, but it has the potential to completely revolutionize ... Student: (interrupts again) Useless.  |
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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Felipeo
Sr. Member
Offline
Activity: 476
Merit: 262
EOSABC
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June 30, 2013, 05:34:45 PM |
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No, but if you want to make your self(or some one else) fancy gift, go for it
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Bicknellski
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June 30, 2013, 06:08:15 PM |
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Yes,
If you are teacher and showing kids about cryptocurrencies.
Even build one with them K1 Nano's.
It would probably fly over most people's heads, let alone children.. We will see in September when we introduce it to our class of 13 year olds. I bet you are wrong. I'd be very interested to see the contrast between the average South-East Asia classroom and the average North America classroom... In my experience and observation, NA school system in general is less about learning and more about popularity and social status. Sample conversation with a typical NA 13 year old: Teacher: ... and this is a bitcoin miner. It performs millions of calculations every second to... Student: (interrupts) Will it update my Facebook? Teacher: ?? Well, no, but it has the potential to completely revolutionize ... Student: (interrupts again) Useless. We are a Montessori school... not much different than the 10000s of them worldwide. Our "typical" interaction is not anything like a traditional environment and that is why it works so well for students. I would not be bothered by 100 questions and I doubt that cryptocurrency is USELESS given the far reaching effects it will have on their lives in the next 10 years and they will be monitoring the BTC produced that goes into scholarship fund for students. |
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MRKLYE (OP)
Legendary
Offline
Activity: 1358
Merit: 1003
Designer - Developer
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June 30, 2013, 06:12:43 PM |
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I'll throw in my $0.02 about these suckers. Short version - I've got 20 on order. I had to turn off my GPU farm because electricity vs. difficulty vs. price of BTC means I'm losing every month. While I'd love to believe an investment in BTC is an investment in some utopian future, I'm realistic in that I represent a group who has combined put $12k into BTC at this point, split between hardware and trading. And that's $12k, fiat currency, meaning that at the end of the day that is our "break even" point. We can easily pull our $4k out of trading, that's no problem, so ROI is ensuring we're not holding BTC when the bomb drops. But hardware is a different story - - If you weren't in early in the game, AsicMiner blades and Avalons are either out of reach or too expensive to validate the ROI for aftermarket - If you're ordered from BFL, you're still waiting (like me!) or have a jala or early single - KNC is still vapor until my shares are hashing So what's left for a miner? FPGA or GPU. Both are quite frankly overpriced after the AM usb miners had their price drop. As of right now I'm in the process of selling a handful of 7970's and 7950's, if I sell each one for the price I'm asking it'll cover all 20 USB sticks (and gamers are always out there to buy 'em). The difference, my farm was 3.6GH/s and at my electricity rate absurd to run. My new farm will be ~7.8GH/s, 37.8 when BFL ships, with nearly zero power draw as I can run all my AM sticks off of the home server that runs all the time anyway, so my $200 => $350 => $425 > $578 electricity bill will go back to $200 (so net +~$300 for me each month, minus obvious difficulty increase effects), no longer have the loud hum of all the gpus, no more heat, and at net zero cost above my original hardware cost because I invested in GPUs I knew I could resell. And for the same initial hardware investment (strictly talking GPUs) I have 2x the farm power that'll be live before two more difficulty changes push through. Not a great investment if you're considering the ROI of *one* stick, but considering I'm effectively performing a hardware / hashrate upgrade at zero additional cost while saving on electricity, it only makes sense. THAT SAID...If BFL tomorrow said that they're shipping 5GH/s Jala's for $274, I'd feel like the suckers who purchased the 2BTC usb sticks (greedy freaking bastards charging that much at first) only to see people who will get theirs from BTC Guild first and cheaper. But that's the game. This is the ideal, if not the perfect opportunity to recoup investment, get mining again, and have some fun new tech. That's my story. Time for video games. Thank you for the read. |
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TheSwede75
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June 30, 2013, 06:16:57 PM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D |
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cp1
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June 30, 2013, 06:19:04 PM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value |
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k9quaint
Legendary
Offline
Activity: 1190
Merit: 1000
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June 30, 2013, 06:36:45 PM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value Losing money on each one but you will make up the profit in volume! |
Bitcoin is backed by the full faith and credit of YouTube comments.
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PeZ
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June 30, 2013, 10:53:42 PM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value Losing money on each one but you will make up the profit in volume! Ben Bernanke is here! |
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Trillium
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June 30, 2013, 11:42:47 PM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value Losing money on each one but you will make up the profit in volume! A loss is a loss, in this case the magnitude of one is greater than the other... |
BTC:1AaaAAAAaAAE2L1PXM1x9VDNqvcrfa9He6 |
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Trongersoll
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July 01, 2013, 12:02:52 AM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value Losing money on each one but you will make up the profit in volume! A loss is a loss, in this case the magnitude of one is greater than the other... sometimes humor is lost on the internet... kind of like bitcoin dust. |
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k9quaint
Legendary
Offline
Activity: 1190
Merit: 1000
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July 01, 2013, 01:03:46 AM |
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Only if you buy 100 and get them tomorrow.
How does the amount purchased affect profitability at all. Makes no sense. D Well it affects the absolute value Losing money on each one but you will make up the profit in volume! A loss is a loss, in this case the magnitude of one is greater than the other... sometimes humor is lost on the internet... kind of like bitcoin dust. Making the Sarcasm font is on my list of things to do. |
Bitcoin is backed by the full faith and credit of YouTube comments.
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dan99
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July 01, 2013, 01:45:04 AM |
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No
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