Mini Rig Purchased and Hashing .... erm, so what's next??!!

[thebrit]

Evening All!

I am the very proud owner of a BFL Mini-Rig and could not be more excited! Hashing on Eclipse, and just a little more impressive than my old Blade I just sold!

I wonder how long it will make decent money given the rapidly increasing difficulty? What is next in line? I don't think anything on the market will be able to compete for a while - KnC (When and if) only produces the 400GHs Jupiter, and Asicminer seems happy with the 10Ghs level blade they are rereleasing shortly. Is there any future in mining as an individual into the end of the year? Custom mining? What are people going to do with these hundreds of asic chips BFL is handing out?

Any thoughts welcome, but just wanted to share my good news with you all! Thanks! TheBTCrit

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[batt01]

Congrats on the new MiniRig. Here I am waiting for a Jalapeno.
Do a brother a sold and run it on my 50miner acct for overnight. So I can buy a couple of
USB block erupters. You can pm me for the login.

KNC seem to be a popular choice, right now. 8K for 400Ghz is a pretty good price per Ghz. Providing that they and deliver as promised. I am please with the shares in a KNC group buy I purchased.
They have doupled in value. I hope to get my own KNC in the near future. I have been unemployed for a year and I just got a job, starting in two weeks.

[thebrit]

Congrats on the new MiniRig. Here I am waiting for a Jalapeno.
Do a brother a sold and run it on my 50miner acct for overnight. So I can buy a couple of
USB block erupters. You can pm me for the login.

KNC seem to be a popular choice, right now. I am please with the share in a group buy I purchased.
They have doupled in value.

Ha - my business partner would have my guts for garters if I did that!

KnC is popular true, I just don't know with no foundry, manufacturing, etc, etc...!! At least I have been to BFL and can confirm they are there working their backsides off to get deliveries out!

[ElitePork]

First of all, gratz on receiving your MR. Show us some pictures will ya? 

[dwdoc]

You have all 3 500 GH modules hashing? Post pics!

[thebrit]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

[dwdoc]

500 GH is amazing but I thought BFL promised to honor the 1500 GH hashrate. Did you agree to a lesser rate? Did they reimburse you a portion of the purchase price?

[thebrit]

Ah ... You assume I got it from BFL. I didn't, got it resale. Yes I paid more ... much more that their asking price. I don't care as its hashing for me right now while others are waiting!

BFL are paying out three rigs per 1500GH order I believe to make right on their promise.

[batt01]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

I weep for you as I hash at 1ghz on my 7970 and my 1 Usb  block erupter.

[one4many]

You have all 3 500 GH modules hashing? Post pics!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

No you cant ... I use http://postimage.org/ ... they even give you the code you just cut and past into your post so you don't have to do it yourself.

Should look like this:

Code:

[img]Image LINK[/img]

And please post the images in original size and NOT rescaled (I hate those, you can't see anything on them on a 30" screen w/o zooming) 

Cheers

    one4many

[greenbtc]

This sounds like a BFL shill.

Everyone knows they aren't shipping anything

[Beastlymac]

This sounds like a BFL shill.

Everyone knows they aren't shipping anything

https://bitcointalk.org/index.php?topic=237710.0
Looks like they have.

[wtfvanity]

This sounds like a BFL shill.

Everyone knows they aren't shipping anything

He says he bought it on the secondary market. Which is possible. But, still hard to believe. Especially since you have no pictures, no hash rate proof, nothing.

[dogie]

He bought the publically advertised unit, that was put on ebay. Look at his posts, not hard to work out rather than spreading FUD.

[BBQKorv]

Now you just hope and pray for the network diff not to skyrocket due to Avalon DIYs, BitFury and KNCMiner. You will have a hard to impossible time on regaining your initial investment if the device was priced similar to what we see in here for in-hand BFLs.

Some pics would make your post a bit more trustable.

[DPoS]

He bought the publically advertised unit, that was put on ebay. Look at his posts, not hard to work out rather than spreading FUD.

he has to run 3 months to break even... kinda defeats the purpose of getting in line before a jupiter

[Loredo]

Now you just hope and pray for the network diff not to skyrocket due to Avalon DIYs, BitFury and KNCMiner. You will have a hard to impossible time on regaining your initial investment if the device was priced similar to what we see in here for in-hand BFLs.

Some pics would make your post a bit more trustable.

Honestly, why should we care?  If he bought the thing on Ebay, chances are he overpaid, but if he did, that's his business, and his and his partner's view of the future.  

For us, though, it provides no signal regarding BFL production or their plans or capacities right now.  

So, to him I say:  good luck.  

And otherwise, right now, I say: good weekend.

[minternj]

And otherwise, right now, I say: good weekend.

Good message. Get the fuck outside people and enjoy the weekend.

[thebrit]

Thank you for your comments, all very interesting! The point of my post was really to gain thoughts on what was coming up after the 400-500GHs machines.

You are quite correct in that 3 months will be needed to come close to paying this off. I do not have faith in KnC having anything out before ... well, this year honestly!

All in all it's been a fascinating project learning about Mining, and getting involved in a big way! Although it doesn't really matter if people thing I'm lying or full of it, I shall endeavor to attach photos and proof of my hashrate - hopefully that will be enough!

I didn't but on eBay, but I certainly paid what some would consider a 'crazy price!'

[thebrit]

[Rampion]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

What happened with "we will honor the ordered hash rate"?

What a bunch of amateurs, it's so sad to see newbies placing new orders, greed makes people do very stupid things.

[thebrit]

[thebrit]

[philips]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

What happened with "we will honor the ordered hash rate"?

What a bunch of amateurs, it's so sad to see newbies placing new orders, greed makes people do very stupid things.

Ah ... You assume I got it from BFL. I didn't, got it resale. Yes I paid more ... much more that their asking price. I don't care as its hashing for me right now while others are waiting!

BFL are paying out three rigs per 1500GH order I believe to make right on their promise.

[thebrit]

[thebrit]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

What happened with "we will honor the ordered hash rate"?

What a bunch of amateurs, it's so sad to see newbies placing new orders, greed makes people do very stupid things.

Newbie? Sure. Idiot? No. Greed? Not particularly, I'm not going to get rich off this, I just find it a fascinating concept and I choose to be a part of it. Of course I'd like to make a little off it, who doesn't?

See previous post on BFL honoring their promise as discussed.



To everyone else - there you go! I'm hosting at a datacenter and so no I'm not going to find a newspaper or something to hold up to it, these photos are my own and you can see my hashrate. Hope that's enough proof!

Thanks all.

[kuusj98]

Wow, just wow!
9 btc a day, i'd dream of that
I bought a hd7850 with a mining 8600gt O-O
Good old times...

[philips]

You have all 3 500 GH modules hashing? Post pics!

oh I wish! BFL couldn't get the 1.5 TH rig to work. 500GH is all I'm stuck with!

Be happy to post some pics - stupid question, can you attach local photos somehow? Seems only online stuff can be posted?

What happened with "we will honor the ordered hash rate"?

What a bunch of amateurs, it's so sad to see newbies placing new orders, greed makes people do very stupid things.

Newbie? Sure. Idiot? No. Greed? Not particularly, I'm not going to get rich off this, I just find it a fascinating concept and I choose to be a part of it. Of course I'd like to make a little off it, who doesn't?

See previous post on BFL honoring their promise as discussed.



To everyone else - there you go! I'm hosting at a datacenter and so no I'm not going to find a newspaper or something to hold up to it, these photos are my own and you can see my hashrate. Hope that's enough proof!

Thanks all.

Don't bother, he is probably in another thread posting fresh info and proof about how BFL is delivering 500GH instead of 1500 as promised

[thebrit]

philips, for a senior forum member you are quite the nasty one aren't you? I'm no BFL apologist, I believe their backlog situation was not handled well and could be much much improved. I simply state - as I have proven - honest opinion and facts.

That said, I actually concluded my deal ... at BFL, where they were happy to transfer the warranty to me, and facilitate the purchase even though they didn't make a dime from it! I am just fortunate to live in the same city as them.

Oh, and one more thing - I bought this off someone who already had multiple rigs .... from BFL ... on account of them keeping their work about delivering the purchased hash rate. Ooops.

Thanks.

[thebrit]

Wow, just wow!
9 btc a day, i'd dream of that
I bought a hd7850 with a mining 8600gt O-O
Good old times...

Shoulda coulda woulda right? I was so angry w/ myself for not bothering to learn about bitcoin until a month or so ago. Looks like there are plenty of opportunities though, in what will be an exciting couple of years for a completely new kind of currency!

[philips]

philips, for a senior forum member you are quite the nasty one aren't you? I'm no BFL apologist, I believe their backlog situation was not handled well and could be much much improved. I simply state - as I have proven - honest opinion and facts.

That said, I actually concluded my deal ... at BFL, where they were happy to transfer the warranty to me, and facilitate the purchase even though they didn't make a dime from it! I am just fortunate to live in the same city as them.

Oh, and one more thing - I bought this off someone who already had multiple rigs .... from BFL ... on account of them keeping their work about delivering the purchased hash rate. Ooops.

Thanks.

Yep, I am really bad.
Thing is, this is how things are going around here, one misunderstanding here is taken as truth somewhere else, and soon enough it will be evidence.

[thebrit]

philips, for a senior forum member you are quite the nasty one aren't you? I'm no BFL apologist, I believe their backlog situation was not handled well and could be much much improved. I simply state - as I have proven - honest opinion and facts.

That said, I actually concluded my deal ... at BFL, where they were happy to transfer the warranty to me, and facilitate the purchase even though they didn't make a dime from it! I am just fortunate to live in the same city as them.

Oh, and one more thing - I bought this off someone who already had multiple rigs .... from BFL ... on account of them keeping their work about delivering the purchased hash rate. Ooops.

Thanks.

Yep, I am really bad.
Thing is, this is how things are going around here, one misunderstanding here is taken as truth somewhere else, and soon enough it will be evidence.

OK thanks for the explanation - I was a little worried I'd done something to tick you off! I can only post my personal experiences, as that is all I know is fact around here and I have done my best to prove that!

All I state is what I've seen, and certainly I'm not out to shill for anyone. I am just extremely glad I'm not stuck waiting for BFL equipment I gave up my hard earned money for, let alone some Swedish company who doesn't have anything being manufactured and is promising a Sept release! Crazy in the my mind ... and THAT is conjecture!

So ... what on earth should I look to as the next big thing? Any ideas all???

[cypherdoc]

so tell us the story of how you came about buying it.  from whom?  was it off ebay?  how much did you pay?

[solitude]

OP has more money than brains if this is all true.

[thebrit]

so tell us the story of how you came about buying it.  from whom?  was it off ebay?  how much did you pay?

Well ... I bought a USB asic, then a Blade, and then decided in for a penny, in for a pound! Or dollar.

The miner was on sale on eBay initially for $106,000. I spoke to the seller and actually it was being hosted in KC - a datacenter that does a lot of business with BFL. I basically met one of the sellers pool members who was over from Europe and we went to look at it, hence the photos. We negotiated down - WAY down and came to an agreement. I paid well over 50k for it, and no I'm not sure if it was a good investment or not! Depends on what it's worth if I decide to sell it a couple months down the road, as they say everything has a price!

I figured if I was going to get into the mining thing then go for the fastest thing on the market, and so I did! I know of only one other ever resold, but I"m sure that'll change as time goes on.

I hope all the prophets that state BTC will appreciate are correct. I'm not counting on it, silly to really, but one can hope!

[thebrit]

OP has more money than brains if this is all true.

Hehe, maybe yes, maybe no! Ask me in three months and I'll let you know.

[Dalkore]

This sounds like a BFL shill.

Everyone knows they aren't shipping anything

He says he bought it on the secondary market. Which is possible. But, still hard to believe. Especially since you have no pictures, no hash rate proof, nothing.

I know of two units that went secondary so that is plausible.   Congrats.

[philips]

Bold move, enjoy your rig.
In the meantime have some fun with this calculator: http://mining.thegenesisblock.com

Respect

EDIT: BTW, don't get discouraged by some comments, if you stick around you will need to grow some thick skin.

[thebrit]

Bold move, enjoy your rig.
In the meantime have some fun with this calculator: http://mining.thegenesisblock.com

Respect

EDIT: BTW, don't get discouraged by some comments, if you stick around you will need to grow some thick skin.

As I'm learning Philip(s?!) - cheers for the good advice.

I love the calculator, nicely detailed, although difficulty jumps should be calculated twice a month I would say.

We shall see what we shall see - still don't believe BFL is going to ramp their release schedule much given what I saw, and KnC is whistling in the wind - Asicminer are happy with their new little 10GH/s blades and USBs and avalon are sticking w/ their 3-4 module systems that don't top 110GH/s. No sign of these TH monsters on the horizon ... and that makes me happy!

[k9quaint]

Thank you for your comments, all very interesting! The point of my post was really to gain thoughts on what was coming up after the 400-500GHs machines.

You are quite correct in that 3 months will be needed to come close to paying this off. I do not have faith in KnC having anything out before ... well, this year honestly!

All in all it's been a fascinating project learning about Mining, and getting involved in a big way! Although it doesn't really matter if people thing I'm lying or full of it, I shall endeavor to attach photos and proof of my hashrate - hopefully that will be enough!

I didn't but on eBay, but I certainly paid what some would consider a 'crazy price!'

May difficulty stay low and/or the force be with you!

[sprint347]

You rolled the dice and had the bravery to share with the community, thank you.

I'm not sure how this will play out for you. I don't think the KNCs are your greatest (immediate) threat, lets see what happens with Avalon and Bitfury. (NB I'm invested in Avalon and KNC)

Lets see what happens I'll be watching with interest. If you want to lower your risk I'm sure you could 'float' your investment on bitfunder and sell miner shares for your 'in hand' device.

For example (don't crucify my crude maths)

Purchase price: $60,000 = ~652btc
Break into 500 shares ~ 1.3 btc per share @ cost
Each share = 1GH
Sell 250 shares for 1.5btc (recover 375 btc)
Keep 250 shares (250GH)

Purchasers will get 1GH of in hand mining power for each share and at the current difficulty would get ~0.13btc per week dividend (minus electricity cost).

Regardless, good luck!

[flyboy]

I'm still waiting on my Aug 2012 BFL Minirig order.

I just picked up 2 October BitFury kits that should equal 800 GH.

I would suggest looking into them, with the low power you can run them from home, vs. have to have them hosted..

I honestly think I will see the bitfury stuff before the BFL stuff, but only time will tell.

-Flyboy

[PuertoLibre]

so tell us the story of how you came about buying it.  from whom?  was it off ebay?  how much did you pay?

Well ... I bought a USB asic, then a Blade, and then decided in for a penny, in for a pound! Or dollar.

The miner was on sale on eBay initially for $106,000. I spoke to the seller and actually it was being hosted in KC - a datacenter that does a lot of business with BFL. I basically met one of the sellers pool members who was over from Europe and we went to look at it, hence the photos. We negotiated down - WAY down and came to an agreement. I paid well over 50k for it, and no I'm not sure if it was a good investment or not! Depends on what it's worth if I decide to sell it a couple months down the road, as they say everything has a price!

I figured if I was going to get into the mining thing then go for the fastest thing on the market, and so I did! I know of only one other ever resold, but I"m sure that'll change as time goes on.

I hope all the prophets that state BTC will appreciate are correct. I'm not counting on it, silly to really, but one can hope!

So uh, you spent 50k on a 500Ghs miner...

With a load of 500+ Jupiter miners (clocked at 350Gh/s for 7,000 USD each) coming in two months....

Wow...can I hit you up for a loan?

[e4xit]

Two months™ 

[Cablez]

Tell prapor he still made a good deal. 

[shmadz]

Congratulations Brit! (not for having a mini-rig, but for having the guts to make a big decision and follow through)

I hear a lot of panic about the difficulty but the rate of increase has consistently been lower than my expectations for going on 5 months now. Back in February when I was considering ordering batch 2 Avalon or BFL, I was basing expectations on a network difficulty of 70 million by the time it was delivered... here we are in mid July and we are not even half that. (though 70 million might be pretty close to the difficulty by the time a BFL device ordered in Feb gets delivered)

And don't listen to anyone tell you it's a bad deal because X miner that does Y GH/s for Z dollars will be arriving "soon" -- That is all uncertain and unproven, and uncertainty means higher risk (and also higher rewards if everything goes smooth)

You paid a very high premium for certainty, which lowers the risk, and reward. 

[thebrit]

Thanks for the responses ... All fascinating pov's and only time will tell who is right.

I'll check into the bit furys Flyboy, thanks for the heads up.

Sprint, the auctioning shares idea sounds fascinating. I'll look into it.

I am not going to bore everyone with daily updates but after a miserable 13 hour block I am on 48 hours and am at 23.5 btc in the pool.  So far so good!

K9 has it on the nose ... Whatever everyone is mining, may the force ... and low difficulty ... be with us all.

[macsga]

Congrats Brit; bold move. A bit of speculation here if you guys permit me. I think you'll get the chance to get even and that's before the 3 months period; more likely it will be within a month (let's roughly say before the end of August). If you don't within a month; then I'm afraid the difficulty will be exponentially higher and you will have to wait up until the end of December (maybe even more).

As per BFL; I think that they tend to hold the difficulty relatively low since they (mainly) ship Jalapenos. I don't blame them; they think all of us who once invested on a bunch of 5970s and ESPECIALLY the late adopters. Those will never have the chance to get even. A long story short; mining from now forth will be a very expensive and risky business. BTC revenue is going to be 12.5 BTC within a (relatively) short period of time, while at the same time the difficulty will rise high.

Don't blame me; I'm no pessimist. I'm still waiting for my 15 Sept. 2012 BFL Single order. My thoughts? I'll never get my initial investment back UNLESS they ship it to me before August...

Well; that's unless BTC~USD will be like 1:$1000 by the end of the year. Then I take it all back!
Good luck to us all.

[ssateneth]

You'll never break even compared to what you could sell it for on ebay or whatever. If you're in it for the money, SELL IT!

[shmadz]

You'll never break even compared to what you could sell it for on ebay or whatever. If you're in it for the money, SELL IT!

dude, he just bought the thing second-hand, so he's already paid the premium. Selling this on ebay would be the same as asking for a refund (and he would probably not get as much as he paid, but you never know)

At latest update he had earned 23.5 BTC in 2 days already, and that was almost a week ago! (admittedly a far cry from the roughly 500 BTC to justify a $50K price, but well on his way)

btw Brit, an update would be appreciated, if you're still watching this thread...

[mgio]

He made a good deal!

It's like paying 86 BTC for a 82 GH/s Avalon, and you can't find an Avalon that cheap anywhere! They are going for at least 120 BTC right now.

Do the math. He spent 526 coins. Hes making 9 a day. He'll at least break even as he has time before the difficulty goes way up.

[User705]

Brit you mentioned in two posts that you don't expect BFL to ramp up from what I assume personal visual evidence.  Can you elaborate?  My back story is I got interested around Avalon B2 ordering time and was going to get BFL and Avalon to cover both.  Ended up buying a couple BFL but couldn't get coins fast enough or trust sending nonrefundable btc to China.  Would've gladly made a deal in person like you did but hardware in hand just wasn't around at that time.  Obviously BFL didn't deliver what was promised since then and aren't looking even close to doing so by their own shipping estimates on their own forums.  I'm just looking for facts not BFL flame wars here.

[thebrit]

You'll never break even compared to what you could sell it for on ebay or whatever. If you're in it for the money, SELL IT!

dude, he just bought the thing second-hand, so he's already paid the premium. Selling this on ebay would be the same as asking for a refund (and he would probably not get as much as he paid, but you never know)

At latest update he had earned 23.5 BTC in 2 days already, and that was almost a week ago! (admittedly a far cry from the roughly 500 BTC to justify a $50K price, but well on his way)

btw Brit, an update would be appreciated, if you're still watching this thread...

I would be happy to update - just didn't want to bother people with constant #s!

The past week was a little lower than I wanted, but only just! Couple of rough spots on eclipse, but my first week results in right at 68 BTC. Total so far = 74.4 BTC.

[MrHempstock]

Kudos, man. Living the dream!

And don't worry too much about bothering people with constant #s.

In this regard most of us are happily living vicariously through you ;}

[batt01]

Kudos, man. Living the dream!

And don't worry too much about bothering people with constant #s.

In this regard most of us are happily living vicariously through you ;}

I look forward to your updates as well. Ignore the haters. This has got to be an exciting time for you. I wish you luck in this endeavor. I have the balls to do what your are doing, but not the money. Are you gonging to set aside some BTC for new hardware, are just going balls out for ROI?

It would be nice to have a KNC Jupiter sitting next to the Mini Rig in Sept or Oct. I am trying to scrape a few nickels together to buy a Mecury. Looks like it may be 2014 before I see my BFL order.

[DPoS]

just make sure to save up your btc till you get 500 of them and let us know to sell just before you dump them..  then we'll buy after the drop

thanks

[thebrit]

Well thought I would throw a ten day result out there ... disappointed I didn't reach my goal by you can't have everything.

My target was 100BTC in ten days flat ... and we managed 99.4 BTC!

Okay so that's a truly excellent result, and well within my 250BTC expectation for the first month expectation with (just) one difficulty rise coming in that period. Looks like it might be <20% as well ... we can all wish!

[mdbssm]

Well thought I would throw a ten day result out there ... disappointed I didn't reach my goal by you can't have everything.

My target was 100BTC in ten days flat ... and we managed 99.4 BTC!

Okay so that's a truly excellent result, and well within my 250BTC expectation for the first month expectation with (just) one difficulty rise coming in that period. Looks like it might be <20% as well ... we can all wish!

Where are you mining now? Not on EMC any longer?

[thebrit]

Well thought I would throw a ten day result out there ... disappointed I didn't reach my goal by you can't have everything.

My target was 100BTC in ten days flat ... and we managed 99.4 BTC!

Okay so that's a truly excellent result, and well within my 250BTC expectation for the first month expectation with (just) one difficulty rise coming in that period. Looks like it might be <20% as well ... we can all wish!

Where are you mining now? Not on EMC any longer?

Haha you noticed! I actually have it balanced mining between EMC and Slush's pool.

[Beastlymac]

Well thought I would throw a ten day result out there ... disappointed I didn't reach my goal by you can't have everything.

My target was 100BTC in ten days flat ... and we managed 99.4 BTC!

Okay so that's a truly excellent result, and well within my 250BTC expectation for the first month expectation with (just) one difficulty rise coming in that period. Looks like it might be <20% as well ... we can all wish!

Where are you mining now? Not on EMC any longer?

Haha you noticed! I actually have it balanced mining between EMC and Slush's pool.

Continue on Slush's pool

[MrHempstock]

Continue on Slush's pool

I second that motion.

[rammy2k2]

nice rig u have there ! 

[jarhed]

It's rare for me to read an entire thread. Good work Brit. Keep us posted.