[ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com

[comeonalready]

From what I read recently, 10 gridseed units, each of which contains 5 gridseed chips, are capable of scrypt hashing at 3 - 3.4MH/s at a total power consumption of 100 watts, or 10 watts per gridseed unit, presumably plus whatever it costs to run the device to which they are connected (computer, special purpose controller, whatever).

That comes to just about 35ish watts per 1MH/s, which is a lot less than the 150 watt figure you suggest.  And the gridseeds are available and running now.

That is awesome if that is the case, but, I still am a bit skeptical.   Pre-orders are good way to get to play with people's money.  There is every reason for a company to be less than truthful, or embellish their offering in order to secure that pie.

I also have a feeling these things will be DOA when they are given to the customer, I don't mean they won't function, but I think the manufacturer will weigh the profit/loss ratio of when to give you your miner.   We will see them on the network long before a singe pre-order is filled.  

People already own gridseed units and are currently mining with them at these power consumption levels.

[1714703948]

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[1714703948]

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[STT]

Only doge and LTC are big enough for giant farms, its an alt coin for a reason.  You cant park your supertanker in the paddling pool sorry.  
Multipools already get complained about and they could be dwarfed by a production line, they will have to mod code to always be high diff I guess

[no1ninja]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

[Flep182]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

[comeonalready]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Your impression would have been correct up until about a month or two ago - give or take.
I am not going to post links here to any sellers and give them free advertising, but i'm sure you could easily find them by using google.
The hashrate and power utilization numbers I posted were not pulled out of thin air.  They are measured reported rates of actual units.

[no1ninja]

Please post it, I would like to actually see one.

[comeonalready]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

There you go -- there's an owner of them.  32 gridseeds would run about US$6-7K, right?

[comeonalready]

Please post it, I would like to actually see one.

Just use google.  Google is your friend.  There is no need to keep making up numbers if you just check with google first.

[no1ninja]

Please post it, I would like to actually see one.

Just use google.  Google is your friend.  There is no need to keep making up numbers if you just check with google first.

Is he mining scrypt with them?  

I know there are units for Bitcoin, I just have not heard ones that do scrypt. 

[comeonalready]

Please post it, I would like to actually see one.

Just use google.  Google is your friend.  There is no need to keep making up numbers if you just check with google first.

Is he mining scrypt with them?  

I know there are units for Bitcoin, I just have not heard ones that do scrypt.  

Well you have now.  We're done talking about them.

[Flep182]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

There you go -- there's an owner of them.  32 gridseeds would run about US$6-7K, right?

I paid around that, the current average for such a set would be 6000 USD.

They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.

[comeonalready]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

There you go -- there's an owner of them.  32 gridseeds would run about US$6-7K, right?

I paid around that, the current average for such a set would be 6000 USD.

They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.

are you using raspberry pi controller running linux?

[no1ninja]

Thanks for the info.  Looking at them right now.  

$1Kh, that's a very steep price.   I imagine competition will erode that eventually.

If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale.  Warranty is only for 30 days, I wonder what the life is of the chip.



With this sort of pricing, I would not be throwing out the GPU just yet.   I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs.  (which will hold partial value even when mining is dead)

[Flep182]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

There you go -- there's an owner of them.  32 gridseeds would run about US$6-7K, right?

I paid around that, the current average for such a set would be 6000 USD.

They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.

are you using raspberry pi controller running linux?

ATM probably 4 aren't hashing because of crappy powerplugs I had to get lastminute. Once I return from travels I'll have a complete set of higher quality cables.
All are on two raspberry Pi's with the scripta image plus some mods. I should be able to get 12 without a sweat once I'm back and everything is running smoothly.

[comeonalready]

People already own gridseed units and are currently mining with them at these power consumption levels.

I was under the impression this is only being done with non-scrypt coins.

Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.

There you go -- there's an owner of them.  32 gridseeds would run about US$6-7K, right?

I paid around that, the current average for such a set would be 6000 USD.

They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.

are you using raspberry pi controller running linux?

ATM probably 4 aren't hashing because of crappy powerplugs I had to get lastminute. Once I return from travels I'll have a complete set of higher quality cables.
All are on two raspberry Pi's with the scripta image plus some mods. I should be able to get 12 without a sweat once I'm back and everything is running smoothly.

Thanks for answering some of my questions.  I hope you do well with them.

You're killing scrypt mining by the way...     Just kidding!  Competition and whatnot, it's the way the world works.

[solariis]

Thanks for the info.  Looking at them right now.  

$1Kh, that's a very steep price.   I imagine competition will erode that eventually.

If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale.  Warranty is only for 30 days, I wonder what the life is of the chip.



With this sort of pricing, I would not be throwing out the GPU just yet.   I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs.  (which will hold partial value even when mining is dead)

Not to mention, at current Litecoin profitability which CM is hovering around 100% of, it would take over 7 months just to break even at a cost of $6,000 and assuming a 0% pool fee, an electricity cost of $0.10/kwh and no increase in BTC value. Of course, that time is going to increase greatly between now and then due to difficulty continuing to rise substantially.

Honestly, I'd be surprised if this guy even broke even at any point in the future. The current cost and performance of gridseeds available now is financially and quite literally just not worth the investment. In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.

Calculations done here:
http://www.coinwarz.com/calculators/litecoin-mining-calculator/?h=10000.00&p=270&pc=0.10&pf=0.00&d=5835.41677649&r=50.00000000&er=0.02785000&btcer=577.24000000&hc=6000

[no1ninja]

So far it still does not look like this company can beat AMD.   Their $300 offering is only able to do 330kh/s, the power consumption is nice, but at the price, it will take a long time to even out with a $180 at 450kh/s.

All this hype and this unit still does not seem to compete with the current GPU's, and don't forget that AMD and NVIDIA have new ones in the works as well.


I also like the fact that I can spin off the hardware and make computers for family and friends if all this fails.   Not sure what I will be able to do with a gridminer.

[comeonalready]

...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.

All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.

How much do you really believe your video cards will fetch on ebay when they are lost within thousands upon thousands of other video cards just like them for sale by former miners just like you?  Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?

[solariis]

...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.

All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.

How much do you really believe your video cards will fetch on ebay when they are lost within thousands and thousands of other video cards just like hem for sale by former miners just like you?  Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?

A month ago I sold a 6870 I bought over 2 years ago for 25% more than I paid for it in early 2012. In the future, there will always be people looking for video cards at lower prices for gaming. There will never be people wanting to scrypt mine with obsolete equipment that doesn't provide any ROI. So to answer your question, when everyone begins dumping their AMD gpu's, getting 50% of what I paid back is much better than 0 to 10%. Not to mention, I use my 280X for gaming as well, and only have one other card I got practically free. While your argument holds truth to a certain extent, that extent is substantially lower than you are probably aware.

[no1ninja]

Honestly, I can make PC's, for family and friends and get 80% of my money.  I like having the extra boards, I bought good chips knowing I would resell them later.  I did not just get something adequate for the job at hand.

I can fold my setup right now for close to 95% of my cost,  if these cards tumble in value, they only represent 80% of the hardware investment, so if they half, I still am looking at 60% and that is the worst possible outcome I can think of.  


As for the grid miner, I am fairly sure no one I know will need one once its of no value to me.