If USB Block Erupters are not worth the trouble, what is?

[OldGeek]

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

[keeron]

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.

[-ck]

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.

[OldGeek]

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

[Bitweasil]

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).

[HellDiverUK]

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.

[-ck]

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.

[demonmaestro]

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! 

[-ck]

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.

[demonmaestro]

i got my erupters connected to my pi and its running just fine.  i guess i am confused as to what you are saying.??

[balanghai]

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. 

[b!z]

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

[-ck]

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.

[HellDiverUK]

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.

[BR0KK]

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

[demonmaestro]

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.

[-ck]

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?

[xstr8guy]

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?

[kano]

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.

[HellDiverUK]

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.