[1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]

[kano]

For a 0.335 GH/s device to recover 0.17BTC with only a 20% diff each change ... it would take ... 190 Days
... at 1000 days it is ... 0.17936377 BTC (so pretty much never reach 0.18 BTC)

If on the other hand it was 30% diff each change ... at 500 days it will have generated ... 0.11957525 BTC ... 1000 days ... 0.11957587 BTC ... so it would never reach 0.12BTC ... of course 0.5W isn't free either ... especially after 1000 days ...
http://www.tradebtc.net/bitcalc.php

Edit: for a 10GH/s device at 20% increase each change, it would take 89 days to get 4BTC
at 30% increase it would ... 500 days 3.56940335 BTC ... 1000 days 3.56942180 BTC ... so never reach 3.6 BTC
But the electricity is pretty relevant also ...

Yes many people buying AsicMiner hardware will not get their many back ...

[Jayjay04]

As it seems for now, no one buying any gear now will see ROI....

[Toby]

I got my asic miner from BFL 2 weeks ago, guess I got lucky. I'll hit ROI in 2 weeks, I'm now half way.

Btw, I got 9 BTC the first week mining and 6 the second week. This was an unlucky week for Bitminter. But this is the first pool I ever mined (got an FPGA last year but I got about 3x ROI price until I payed more for electricity than it'll mine), then I ordered the ASIC miners on juli 31 and received them august 14 (2013 instead of 2012). I'll stick to Bitminter.

[philipma1957]

For a 0.335 GH/s device to recover 0.17BTC with only a 20% diff each change ... it would take ... 190 Days
... at 1000 days it is ... 0.17936377 BTC (so pretty much never reach 0.18 BTC)

If on the other hand it was 30% diff each change ... at 500 days it will have generated ... 0.11957525 BTC ... 1000 days ... 0.11957587 BTC ... so it would never reach 0.12BTC ... of course 0.5W isn't free either ... especially after 1000 days ...
http://www.tradebtc.net/bitcalc.php

Edit: for a 10GH/s device at 20% increase each change, it would take 89 days to get 4BTC
at 30% increase it would ... 500 days 3.56940335 BTC ... 1000 days 3.56942180 BTC ... so never reach 3.6 BTC
But the electricity is pretty relevant also ...

Yes many people buying AsicMiner hardware will not get their many back ...

yeah and if it is 10% you will do fine not to mention if btc goes up after purchase..   of course if btc tanks oh well.

[xstr8guy]

I appreciate the ASIC market updates in this thread since I don't always check the other sub-forums.  Sometimes you have to be quick to get your order in before they go out-of-stock.

So anyways, just ordered 20 more USB Erupters from Canary and realized I could have had a Blade for .4 BTC more. 

But the good news, my BFL Little Single shipped today!  All new GH/s to soon be added to BitMinter.  Not exactly a bunch of Mini-rigs but every little bit helps, right?  Now I wait for my big(ger) orders from KNC, Bitfury and BFL. 

[Jayjay04]

I guess I got the late in the game.
Just can't pile Bitcoins with my 5850, and doesn't have money to pay for expensive hardware.
How did you guys manage to pay for all this, that's beyond my comprehension... don't you have a life with bills ?!?!

[lano1106]

For a 0.335 GH/s device to recover 0.17BTC with only a 20% diff each change ... it would take ... 190 Days
... at 1000 days it is ... 0.17936377 BTC (so pretty much never reach 0.18 BTC)

If on the other hand it was 30% diff each change ... at 500 days it will have generated ... 0.11957525 BTC ... 1000 days ... 0.11957587 BTC ... so it would never reach 0.12BTC ... of course 0.5W isn't free either ... especially after 1000 days ...
http://www.tradebtc.net/bitcalc.php

Edit: for a 10GH/s device at 20% increase each change, it would take 89 days to get 4BTC
at 30% increase it would ... 500 days 3.56940335 BTC ... 1000 days 3.56942180 BTC ... so never reach 3.6 BTC
But the electricity is pretty relevant also ...

Yes many people buying AsicMiner hardware will not get their many back ...

yeah and if it is 10% you will do fine not to mention if btc goes up after purchase..   of course if btc tanks oh well.

btc volatility influence on mining equipement purchase profitability does not make sense

1 BTC is higher than .75 BTC no matter what the exchange rate is. If it is the yield that a mining equipment is giving, you are better just sit on your bitcoins.

[organofcorti]

For a 0.335 GH/s device to recover 0.17BTC with only a 20% diff each change ... it would take ... 190 Days
... at 1000 days it is ... 0.17936377 BTC (so pretty much never reach 0.18 BTC)

If on the other hand it was 30% diff each change ... at 500 days it will have generated ... 0.11957525 BTC ... 1000 days ... 0.11957587 BTC ... so it would never reach 0.12BTC ... of course 0.5W isn't free either ... especially after 1000 days ...
http://www.tradebtc.net/bitcalc.php

Edit: for a 10GH/s device at 20% increase each change, it would take 89 days to get 4BTC
at 30% increase it would ... 500 days 3.56940335 BTC ... 1000 days 3.56942180 BTC ... so never reach 3.6 BTC
But the electricity is pretty relevant also ...

Yes many people buying AsicMiner hardware will not get their many back ...

yeah and if it is 10% you will do fine not to mention if btc goes up after purchase..   of course if btc tanks oh well.

btc volatility influence on mining equipement purchase profitability does not make sense

1 BTC is higher than .75 BTC no matter what the exchange rate is. If it is the yield that a mining equipment is giving, you are better just sit on your bitcoins.

It does if your electricity cost is significant. It wont be long until that's the case for 1st gen ASICs in countries where electricity is 25 to 35 c / kWh.

[zvs]

I guess I got the late in the game.
Just can't pile Bitcoins with my 5850, and doesn't have money to pay for expensive hardware.
How did you guys manage to pay for all this, that's beyond my comprehension... don't you have a life with bills ?!?!

i started out with a 5830 in 2011

for a while there they paid for themselves in 2 or 3 days

[SgtSpike]

I guess I got the late in the game.
Just can't pile Bitcoins with my 5850, and doesn't have money to pay for expensive hardware.
How did you guys manage to pay for all this, that's beyond my comprehension... don't you have a life with bills ?!?!

I took a risk back in early 2011 and bought $1,100 of computer hardware to mine with.  I've been selling BTC and keeping some to continue upgrading mining equipment ever since.

In retrospect, I would have made a lot more money just buying $1,100 of BTC (since BTC was $1.50/ea when I found out about them), but hindsight is 20/20 and all of that.  I've still made a boatload on my initial investment, so I have no regrets.

[philipma1957]

For a 0.335 GH/s device to recover 0.17BTC with only a 20% diff each change ... it would take ... 190 Days
... at 1000 days it is ... 0.17936377 BTC (so pretty much never reach 0.18 BTC)

If on the other hand it was 30% diff each change ... at 500 days it will have generated ... 0.11957525 BTC ... 1000 days ... 0.11957587 BTC ... so it would never reach 0.12BTC ... of course 0.5W isn't free either ... especially after 1000 days ...
http://www.tradebtc.net/bitcalc.php

Edit: for a 10GH/s device at 20% increase each change, it would take 89 days to get 4BTC
at 30% increase it would ... 500 days 3.56940335 BTC ... 1000 days 3.56942180 BTC ... so never reach 3.6 BTC
But the electricity is pretty relevant also ...

Yes many people buying AsicMiner hardware will not get their many back ...

yeah and if it is 10% you will do fine not to mention if btc goes up after purchase..   of course if btc tanks oh well.

btc volatility influence on mining equipement purchase profitability does not make sense

1 BTC is higher than .75 BTC no matter what the exchange rate is. If it is the yield that a mining equipment is giving, you are better just sit on your bitcoins.

 

   For some holding coin is one part of a multi spread the risk plan.  100% mining or 100% coinholding is not the way to go. (and this is way off topic for bitminter but still is very interesting).

  I hold coin, I have btc stock,s I have mining gear that I mine with  on bitminter and I resell mining gear on ebay to newcomers . So I spread risk around. Your hold coin plan can work well for you.  For me I have a steller ebay sales record so selling gear at a low price for a small profit really removes a lot of risk for me. I still hold coins long term. I also try to keep everything under 10k.  Stocks, coins, ebay stock   my mining gear.  More  a part time job then a living.

[Jayjay04]

[/quote] 

   For some holding coin is one part of a multi spread the risk plan.  100% mining or 100% coinholding is not the way to go. (and this is way off topic for bitminter but still is very interesting).

  I hold coin, I have btc stock,s I have mining gear that I mine with  on bitminter and I resell mining gear on ebay to newcomers . So I spread risk around. Your hold coin plan can work well for you.  For me I have a steller ebay sales record so selling gear at a low price for a small profit really removes a lot of risk for me. I still hold coins long term. I also try to keep everything under 10k.  Stocks, coins, ebay stock   my mining gear.  More  a part time job then a living.
[/quote]

What do you have to resell ?
Might be interested...

[philipma1957]

My 3 blades came today.  Does anyone run them with bitminter/java?

[DrHaribo]

My 3 blades came today.  Does anyone run them with bitminter/java?

The ASICminer cubes and blades have their own mining client built in. But it is rather primitive and only supports the old getwork protocol. The recommended way to mine with them is through a stratum proxy. You can set up Slush's stratum proxy on your computer, pointing it at BitMinter, and set up the blades to point to your computer running the proxy.

You can get the proxy from: https://github.com/slush0/stratum-mining-proxy
And run it something like so: mining_proxy.exe -o mint.bitminter.com -sp 3333 -gp 8332
(if you already have something running on port 8332 you may have to change the port number)

In the cube/blade configuration for user name use something like: username_worker:x,username_worker:x
So if my user name is DrHaribo, my worker is Blade1 and its password is abc123, then I put DrHaribo_Blade1:x,DrHaribo_Blade1:x
This data must be entered twice. As password we just put x since any password will be accepted.
For host/IP put the IP of your computer running the stratum proxy. That IP must also be entered twice with a comma between. So if I am running the proxy on a computer with IP address 1.2.3.4 then I put 1.2.3.4,1.2.3.4

Now you are set for efficient mining. The Stratum proxy will receive block templates from the BitMinter server and use it to generate work for the blade(s). With the cube/blade and computer on the same network the blade will be able to fetch new work very quickly.

I believe you can enter data for another pool as backup as the data after the comma, instead of the exact same thing twice. You'll probably need to set up two stratum proxies on different ports to make this work. Maybe someone can confirm whether this is failover or 50/50 mining.

Some more detailed instructions, starting with how to plug it in, are available here: https://bitcointalk.org/index.php?topic=205369.0

[eleuthria]

My 3 blades came today.  Does anyone run them with bitminter/java?

The ASICminer blades have their own mining client built in. But it is rather primitive and only supports the old getwork protocol. The recommended way to mine with them is through a stratum proxy. You can set up Slush's stratum proxy on your computer, pointing it at BitMinter, and set up the blades to point to your computer running the proxy.

You can get the proxy from: https://github.com/slush0/stratum-mining-proxy
And run it something like so: mining_proxy.exe -o mint.bitminter.com -sp 3333 -gp 8332
(if you already have something running on port 8332 you may have to change the port number)

In the blade configuration for user name use something like: username_worker:workerpassword,username_worker:workerpassword
So if my user name is DrHaribo, my worker is Blade1 and its password is abc123, then I put DrHaribo_Blade1:abc123,DrHaribo_Blade1:abc123
This data must be entered twice.
For host/IP put the IP of your computer running the stratum proxy. That IP must also be entered twice with a comma between. So if I am running the proxy on a computer with IP address 1.2.3.4 then I put 1.2.3.4,1.2.3.4

Now you are set for efficient mining. The Stratum proxy will receive block templates from the BitMinter server and use it to generate work for the blade(s). With the blade and computer on the same network the blade will be able to fetch new work very quickly.

I believe you can enter data for another pool as backup as the data after the comma, instead of the exact same thing twice. You'll probably need to set up two stratum proxies on different ports to make this work. Maybe someone can confirm whether this is failover or 50/50 mining.

Luke-Jr's latest bfgminer release has support for blades.  It's basically running an internal GBT/Stratum proxy for the blade.  Not quite sure how it works, or if it's known to be stable yet.  The new blades also can connect via USB, but I'm not sure if that has opened up any new ways to communicate with the hardware or if it's still requiring a getwork->gbt/stratum proxy.

UPDATE: Looks like as of right now it isn't yet included in the windows binary releases, so you'll have to build it yourself.  README.ASIC has the instructions for using a blade with bfgminer.

[philipma1957]

My 3 blades came today.  Does anyone run them with bitminter/java?

The ASICminer blades have their own mining client built in. But it is rather primitive and only supports the old getwork protocol. The recommended way to mine with them is through a stratum proxy. You can set up Slush's stratum proxy on your computer, pointing it at BitMinter, and set up the blades to point to your computer running the proxy.

You can get the proxy from: https://github.com/slush0/stratum-mining-proxy
And run it something like so: mining_proxy.exe -o mint.bitminter.com -sp 3333 -gp 8332
(if you already have something running on port 8332 you may have to change the port number)

In the blade configuration for user name use something like: username_worker:workerpassword,username_worker:workerpassword
So if my user name is DrHaribo, my worker is Blade1 and its password is abc123, then I put DrHaribo_Blade1:abc123,DrHaribo_Blade1:abc123
This data must be entered twice.
For host/IP put the IP of your computer running the stratum proxy. That IP must also be entered twice with a comma between. So if I am running the proxy on a computer with IP address 1.2.3.4 then I put 1.2.3.4,1.2.3.4

Now you are set for efficient mining. The Stratum proxy will receive block templates from the BitMinter server and use it to generate work for the blade(s). With the blade and computer on the same network the blade will be able to fetch new work very quickly.

I believe you can enter data for another pool as backup as the data after the comma, instead of the exact same thing twice. You'll probably need to set up two stratum proxies on different ports to make this work. Maybe someone can confirm whether this is failover or 50/50 mining.

Luke-Jr's latest bfgminer release has support for blades.  It's basically running an internal GBT/Stratum proxy for the blade.  Not quite sure how it works, or if it's known to be stable yet.  The new blades also can connect via USB, but I'm not sure if that has opened up any new ways to communicate with the hardware or if it's still requiring a getwork->gbt/stratum proxy.

UPDATE: Looks like as of right now it isn't yet included in the windows binary releases, so you'll have to build it yourself.  README.ASIC has the instructions for using a blade with bfgminer.

 thanks to both of you. .  for info

 I have new old stock voltage unlocked miners. No usb only ethernet.

 I do have a mulit port switch for the 3 extra ethernet connection that I will need. I will try to do Slush's stratum proxy on sat morning. I will get back with results. I have a quality pc (i7 3770t cpu) with a quality mobo  asrock z77-itx-e fast ram and a ssd. pretty quick powerful pc.  it runs the 90-100 usb stick well.
If i get it all setup I will be back up to 60gh

[DrHaribo]

Instability on the mining server in the last 10-15 minutes. I'm looking into it.

[occrest]

Instability on the mining server in the last 10-15 minutes. I'm looking into it.

Thanks.   I noticed that, and came here to check if anyone else did.  Glad to know you are on top of things.  I am new at this mining bit, have only 1 erupter on a macbook pro----guess i'm mining the hard way    I would like to take this opportunity to thank you for developing an easy to use miner for tech challenged folk like myself.

[OmegaNemesis28]

Finally got my BFL 60Gh single up and running on BitMinter. Got home from college to pick it up.
I'm running it using BFGMiner. Should I use the native bitminter client instead or something else? Any recommendations? Hitting 60-70GH variably so it seems to be good so far.

But I am noticing what looks to be a somewhat terribly long block. Not a good start. Unless I'm reading the statistics on the site wrong.

[DrHaribo]

Situation normal again for the last 33 minutes.

Looks like the DDoS attackers have given up using brute force DDoS against Black Lotus. Now they are trying to look like miners, to slip under the radar, rather than just blindly spamming network data. Someone is quite desperate to take BitMinter down. It's nice to see them putting in some work hours though, instead of just pressing the "usual ddos attack" button.