20% Difficulty jump...RIP BFL Jalapeno

[eoakland]

Death of the BFL Jalapeno ASIC. 

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[Xyver]

Man, do you know anything about mining?

30 watts, plus say 100 watts for the laptop to run it, is like 30 cents a day in power.  With a 750$ BTC, you can get to AT LEAST 10 billion difficulty before you spend more on electricity then you make in BTC/day.

BTC at 1000$, and enough Jalapenos running to make the laptop negligable (say 5+) the difficulty can hit 25 billion.

This is assuming a 5 gigahash Jalapeno, if you have an 8 giga one you can get to at least 40 billion.

[eoakland]

ok, go spend $350 on a jalapeno and message back when you get a ROI. 

[HellDiverUK]

ok, go spend $350 on a jalapeno and message back when you get a ROI. 

95% of Jalapenos in use have already given ROI.  Anyone buying a Jalapeno new is brave.

[mgio]

ok, go spend $350 on a jalapeno and message back when you get a ROI. 

I only spent $150 on my jalapenos.


Also, don't use a laptop! Use a raspberry pi. They only cost about $50 and draw less than 5 watts!

[J_Dubbs]

My god I wish people would stop with the "ROI"!!! This is the most misused and misunderstood molested fucking term in existence here!

[HellDiverUK]

Man, do you know anything about mining?

30 watts, plus say 100 watts for the laptop to run it,

What sort of laptop are you using?!?  I'm running all my miners off a Celeron G1620 PC (cheap Asus Essentio) and it's using less than 40W.  That's a 'proper' PC running Windows which I also use to connect to my home network from anywhere, runs Apache and PHP so I can use miner.php to keep tabs on my miners.  

I also have a Pi running MinePeon as backup proxy for my ASICMiners which runs off the USB port on the back of my AirPort Extreme, so it basically uses 2W of power.

[PolkRB]

My god I wish people would stop with the "ROI"!!! This is the most misused and misunderstood molested fucking term in existence here!

May I know why is that? It seems it's used properly here when people just want to know that they get more money than what they paid.

[CMMPro]

ok, go spend $350 on a jalapeno and message back when you get a ROI. 

I only spent $150 on my jalapenos.


Also, don't use a laptop! Use a raspberry pi. They only cost about $50 and draw less than 5 watts!

That's what I'm running too....I gave it to my son as a little way to make some bitcoin for himself.
It makes about 0.01 every other day...still worth running for quite a while.

Even then, what if 0.01 XBT is worth $100 someday? It will have seemed foolish to have turned it off so early. 

 

[norman]

Even then, what if 0.01 XBT is worth $100 someday? It will have seemed foolish to have turned it off so early. 

You won't feel nearly as foolish as when you realize how much you would have made if you had just bought and held bitcoins directly. 

[J_Dubbs]

Even then, what if 0.01 XBT is worth $100 someday? It will have seemed foolish to have turned it off so early.  

You won't feel nearly as foolish as when you realize how much you would have made if you had just bought and held bitcoins directly.  

Not necessarily true at all. When buying something outright there is greater psychological pressures to sell on price fluctuations. Don't get me wrong, mining has it's own siren song with hardware addiction, which I discuss on another thread, but had I bought at $230 rather than plugged in a miner I probably would have sold at $600 or so. Psychology of investing is much more complicated than profits, as Mises said, "In retrospect, all fools become wise."

[DrG]

My god I wish people would stop with the "ROI"!!! This is the most misused and misunderstood molested fucking term in existence here!

May I know why is that? It seems it's used properly here when people just want to know that they get more money than what they paid.

The fallacy is this: ROI is not getting your fiat back in the same amount but getting your BTC in the same amount.  The whole point of mining (other than to support the network and fulfill your nerdish fantasies) is to earn more BTC.  Not a single Jalapeno has earned more BTC than could have been used to purchase BTC directly.  I have a Day 1 SC Single I spent 208 BTC on and so far mined back less then 50 BTC - hoping for 55 before it's completely unprofitable.

The only known ASICs that have made true ROI are Avalon Batch 1&2 and early Jupiters.  Everything else was a gamble that never materialized.  Even a BFL gamble was better than some like bASIC who ran off with people's money (although not by much).

At this point it's hard to find any hardware that will ROI with current projections (only way for that to happen is from some companies in the competitor camp to have massive failures).  If BFL actually shipped units in 2012 instead of 2013 Avalon Batch 1 and 2 would have been failures.  Instead Avalon turned BFL's early guinea pigs into failures before themselves going rogue and mining on their customer's eq.

[melodiem]

Man, do you know anything about mining?

30 watts, plus say 100 watts for the laptop to run it,

What sort of laptop are you using?!?  I'm running all my miners off a Celeron G1620 PC (cheap Asus Essentio) and it's using less than 40W.  That's a 'proper' PC running Windows which I also use to connect to my home network from anywhere, runs Apache and PHP so I can use miner.php to keep tabs on my miners.  

I also have a Pi running MinePeon as backup proxy for my ASICMiners which runs off the USB port on the back of my AirPort Extreme, so it basically uses 2W of power.

At 40w you are only using 3.33Amps, you could run that on a car battery with a cheap solar charger...

[omegaflare]

Or rent a mining contract. You would still make a profit, albeit for only a short time. FCUK!! If everyone stop mining, would the difficulty decrease?

[PolkRB]

Or rent a mining contract. You would still make a profit, albeit for only a short time. FCUK!! If everyone stop mining, would the difficulty decrease?

Yes, it would