Yet another n00b questions

[Valnurat]

Hi everyone.

I'm a mining n00b, sorry about that.

But I'm very confused with all these differents coins. Well I know Bitcoin, but what are the other coins?

BitCoin, LitCoin, MiddelCoin, FrozenCoin ect.

Are any of these coins ROI possible? Do I have to see it as a long term investment?

Then I see alot of mining stuff. Blades, USB, BFL. But all of it is very expensive. Can't imagine what will happen in 5 years from now.

I have 2 Nvidia FX quadro 4600 - are they usefull? Can get more, but is there a motherboard that can handle more that 2 video cards.

Then there is all these USB Mining and it looks very nice.  But don't understand why Bi*Fury is being sold, why not just keep it for them self. Is that because they know it is not ROI possible?

ASICMiner Block Erupter USB is that not the same as Bi*Fury, RedFury, BlueFury etc?

Sorry for these stupid questions.

Br Valnurat

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[Shaggy2013]

Hi everyone.

I'm a mining n00b, sorry about that.

But I'm very confused with all these differents coins. Well I know Bitcoin, but what are the other coins?

BitCoin, LitCoin, MiddelCoin, FrozenCoin ect.

Are any of these coins ROI possible? Do I have to see it as a long term investment?

Then I see alot of mining stuff. Blades, USB, BFL. But all of it is very expensive. Can't imagine what will happen in 5 years from now.

I have 2 Nvidia FX quadro 4600 - are they usefull? Can get more, but is there a motherboard that can handle more that 2 video cards.

Then there is all these USB Mining and it looks very nice.  But don't understand why Bi*Fury is being sold, why not just keep it for them self. Is that because they know it is not ROI possible?

ASICMiner Block Erupter USB is that not the same as Bi*Fury, RedFury, BlueFury etc?

Sorry for these stupid questions.

Br Valnurat

I am noob to and here are my noob answers.

GPU mining on bitcoins is a loss because electricity cost is more then gain even if you do pool mining.  The other coins maybe possible still but you have to believe they will stay around for the long run like bitcoin is destined to do.

USB ASIC mining is still profitable if you live in area with low cost electricity, maybe say 15 cents or lower per kWh.

USB Fury still profitable even at higher cost electricity.

No they are not exactly the same they are different chipsets doing same thing.  One is more economical then the other but more expensive to produce.  ASIC cheaper to produce but lower hash rate fury chipsets more expensive to produce but better hashrate.

Why would a company sell these.  Well bitcoins is a currency outside normal currency's until traded and you must abide by local laws of currency trade, and you also have to count the difficulty to mine constantly getting harder to do.  Companies can make a lot of money in their currency to sell product to use in another currency, they are just selling hardware with little tax after all.  They could use this technology and mine for themselves and they probably do but everything they make is in that currency would have to be taxed to be brought back into their local currency.

Well that is my noob response,  I am a usb miner myself and just got into this about 4 weeks ago.

[Valnurat]

I am noob to and here are my noob answers.

GPU mining on bitcoins is a loss because electricity cost is more then gain even if you do pool mining.  The other coins maybe possible still but you have to believe they will stay around for the long run like bitcoin is destined to do.

But what are the other coins? If f.exampel BTC=dollar, is LTC=cents or is LTC some other kind algorithm?
And can you use USB ASIC for both BTC and LTC and other coins?

USB ASIC mining is still profitable if you live in area with low cost electricity, maybe say 15 cents or lower per kWh.

In Denmark it is 40 cents per kWh. Crap

USB Fury still profitable even at higher cost electricity.

So mining in Denmark is not profitable. I guess.

[Shaggy2013]

But what are the other coins? If f.exampel BTC=dollar, is LTC=cents or is LTC some other kind algorithm?
And can you use USB ASIC for both BTC and LTC and other coins?

In theory any cryptocurrency based on the 256SHA hashing algorithm they should work with.  The chips do nothing more then do math of a specific type.  As far as I know LTC and others like it are all based on the same algorithm's, and why would they not be it would be the death of it because no-one would reinvest to rebuild new hardware for it.  Once burned twice shy, no-one would even try it, they would loose before they started.

These chips are worthless for anything else but what they specifically designed to do.

And sorry yes at 40 cents USD it would be hard to do outside doing it as a hobby right now even with the newer coins I think.

[Valnurat]

How do I calculate if it is ROI possible?

How many kWh does RedFury, Bi*Fury and ASICMiner Block Erupter USB 330MH/s use or should I just calculate what a USB hub need?

Br
Valnurat