OldGeek (OP)
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Blitz:The price affects the perception of the news
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September 11, 2013, 01:17:37 AM |
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Given that there are some of us who would like to enter the Bitcoin mining game, and that we have only a modest bankroll, what equipment should we have?
Low cost and low power consumption make the USB block erupters an easy entry. There are hundreds of threads telling us newbies that it is a waste of time and money to try mining with them. I’ll take your word for that, but I still want to do the mining.
It appears that the asic powered equipment is the hot wave right now. I found a nifty chart (somewhere) which showed the currently known list of asic miners. They range from the USB BE’s at ~$30 US (334 MHs @ 2.5 W, available now) to the Virtual Mining Platinum 6 at ~$353,800 US (24,576 GHs @ 20,800 W) available in December (perhaps). That’s quite a range.
Is Bitcoin mining only going to be a rich man’s game?
/Frank
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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keeron
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September 11, 2013, 01:32:49 AM |
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Since AsicMiner is the only real company shipping consistently and useful products (in my opinion), I'd suggest wait for the new HW to be announced. The USB miners are now dropped to .10 BTC (if you buy in bulk, or ~.12-.15 on the group buy threads). The blades are also dropped ... the newer devices should be faster/cheaper. You might not make a ton of ROI, but atleast be enough to enter the mining game.
Or the other option is to wait for these TH devices or miners from BFL :-) And see the difficulty climbing, your paid BTC/USD not getting any returns.
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-ck
Legendary
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Ruu \o/
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September 11, 2013, 01:48:35 AM |
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Since AsicMiner is the only real company shipping consistently and useful products (in my opinion), I'd suggest wait for the new HW to be announced. Not a chance, they will once again sell for more than they ever return. The asicminer products are carefully marketed at the highest price point possible that looks only to the uninformed to bring a return, when in fact, they never will. The bitcoin mining landscape is now one of a choice somewhere along the spectrum: Highest risk + Highest potential gain<---> Lowest risk + Guaranteed loss Where risk = risk of not getting product at all, getting it much later than advertised etc. Only you can decide where on that spectrum you wish, if at all, to jump in. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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OldGeek (OP)
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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September 11, 2013, 02:11:32 AM |
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Only you can decide where on that spectrum you wish, if at all, to jump in.
I've already jumped in. My mini rig will be delivered tomorrow or the next day. I'll have 6 BE's ready to hash by Friday morning. I consider that this route provides the least exposure and will let me assess if I want to take another, and larger, step. My best results with any hobby, or business venture, is to start small and only expand if it appears worthwhile. 'Worth' is relative, of course. My goal with this thread was to pick your collective minds. /Frank |
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Bitweasil
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September 11, 2013, 05:25:45 AM |
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Given that there are some of us who would like to enter the Bitcoin mining game, and that we have only a modest bankroll, what equipment should we have?
Something you preordered a year or two ago and has just shown up. There is nothing profitable to buy right now that will be delivered soon. Your only option is the high risk of a preorder of some device from an unknown company with no demonstrated product (pick one of several). |
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HellDiverUK
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September 11, 2013, 07:36:19 AM |
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The Bitfury-based USB miners look like they'll be the next "big thing" - 2.5GH/s+ on a USB stick. I know I'll be replacing my Erupters with a rack of them.
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-ck
Legendary
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Ruu \o/
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September 11, 2013, 08:14:36 AM |
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The Bitfury-based USB miners look like they'll be the next "big thing" - 2.5GH/s+ on a USB stick. I know I'll be replacing my Erupters with a rack of them.
They don't run on anything but RPi for now. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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demonmaestro
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September 11, 2013, 08:27:41 AM |
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The Bitfury-based USB miners look like they'll be the next "big thing" - 2.5GH/s+ on a USB stick. I know I'll be replacing my Erupters with a rack of them.
They don't run on anything but RPi for now. Dont be hating on thr Rpi!  |
Feel Like Donating? bc1q0v5nfdejapffewu67gft7zw7zsmnfmmkt3lf02 Buy/Sell BitCoin & LiteCoin Click here! | Looking for a great exchange? CoinBase Has you covered. |
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-ck
Legendary
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Activity: 4088
Merit: 1631
Ruu \o/
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September 11, 2013, 08:31:21 AM |
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The Bitfury-based USB miners look like they'll be the next "big thing" - 2.5GH/s+ on a USB stick. I know I'll be replacing my Erupters with a rack of them.
They don't run on anything but RPi for now. Dont be hating on thr Rpi! Not hating on it, just saying it's not like the erupters which can effectively be used on anything with USB. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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demonmaestro
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September 11, 2013, 08:43:39 AM |
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i got my erupters connected to my pi and its running just fine.  i guess i am confused as to what you are saying.?? |
Feel Like Donating? bc1q0v5nfdejapffewu67gft7zw7zsmnfmmkt3lf02 Buy/Sell BitCoin & LiteCoin Click here! | Looking for a great exchange? CoinBase Has you covered. |
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balanghai
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September 11, 2013, 08:50:56 AM |
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Well it all boils down to who got in first and who sells the shovel. That is worth the trouble. Buy and Sell miners it keeps the coin flowing in.  |
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b!z
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September 11, 2013, 08:52:32 AM |
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i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.?? You will never get back your roi unless you bought them super cheap |
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-ck
Legendary
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Ruu \o/
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September 11, 2013, 09:47:25 AM |
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i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.?? You can also plug them into your PC. You will not be able to plug Bitfury-based USB miners into your PC. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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HellDiverUK
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September 11, 2013, 10:02:58 AM |
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I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
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BR0KK
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September 11, 2013, 10:14:25 AM |
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I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
There are no drivers for standard computers as i know. CGminer is not able to use them nor any other miner atm. Bitfury uses their own program called chainminer (?) for mining with them |
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demonmaestro
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September 11, 2013, 10:15:15 AM |
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i got my erupters connected to my pi and its running just fine. i guess i am confused as to what you are saying.?? You will never get back your roi unless you bought them super cheap roi roi ROI roi thats all ya talk about... its a hobby not a freaking business. and besides if you must know i have made roi already about daily to every other day.. paid cash for it. not bitcoin. |
Feel Like Donating? bc1q0v5nfdejapffewu67gft7zw7zsmnfmmkt3lf02 Buy/Sell BitCoin & LiteCoin Click here! | Looking for a great exchange? CoinBase Has you covered. |
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-ck
Legendary
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Activity: 4088
Merit: 1631
Ruu \o/
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September 11, 2013, 10:15:51 AM |
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I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
Good for you. Proselytising? |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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xstr8guy
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September 11, 2013, 10:19:01 AM |
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Only you can decide where on that spectrum you wish, if at all, to jump in.
I've already jumped in. My mini rig will be delivered tomorrow or the next day. I'll have 6 BE's ready to hash by Friday morning. I consider that this route provides the least exposure and will let me assess if I want to take another, and larger, step. My best results with any hobby, or business venture, is to start small and only expand if it appears worthwhile. 'Worth' is relative, of course. My goal with this thread was to pick your collective minds. /Frank I've never seen "mini rig" and "lease exposure" in the same sentence. How much money do you have where tens of thousands of dollars is considered minimal risk? Lol. Did you mean Jalapeño? |
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kano
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Linux since 1997 RedHat 4
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September 11, 2013, 11:54:52 AM |
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I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
There are no drivers for standard computers as i know. CGminer is not able to use them nor any other miner atm. Bitfury uses their own program called chainminer (?) for mining with them Yes, and chainminer is currently only on the RPi. One day that may change, but not yet. |
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HellDiverUK
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September 11, 2013, 12:13:54 PM |
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I don't understand why you NEED a Pi for the BitFurys? That doesn't really make any sense. Yes, the BitFury Blades, but the USB ones? I call BS.
There are no drivers for standard computers as i know. CGminer is not able to use them nor any other miner atm. Bitfury uses their own program called chainminer (?) for mining with them Yes, and chainminer is currently only on the RPi. One day that may change, but not yet. So they can work on normal computers, and don't need a RPi? They just need some drivers written. Glad we sorted that one out then.  |
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