noob questions

[dinges123]

Hey guys, I have a few noob questions i'd like to ask. I searched for bitcoin mining and most people said bitcoin mining was useless unless you would use asics.
I can get around 5 asics from amazon for free ( the 30$ usb ones), how much would this earn me? If I connect them all to a raspberry and use this setup would I go over the break even point? If so by how much? Would it earn me more if I mine a different coin?

Thanks in advance

[1715667496]

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[1715667496]

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[1715667496]

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[ChuckBuck]

Hey guys, I have a few noob questions i'd like to ask. I searched for bitcoin mining and most people said bitcoin mining was useless unless you would use asics.
I can get around 5 asics from amazon for free ( the 30$ usb ones), how much would this earn me? If I connect them all to a raspberry and use this setup would I go over the break even point? If so by how much? Would it earn me more if I mine a different coin?

Thanks in advance

You won't ever break even with USB miners, but you can get it just to hobby mine and say you're a "bitcoin miner".

Do it just for fun, and you'll be fine.  IN order to profit from mining, you'd need multiple TH/s worth of mining equipment, enough electrical capacity to support this, little to no electrical costs, and the price of BTC to go up.

But if you're in it just to play around, get familiar with the tech behind mining, be my guest.

[dinges123]

But can't I just mine litecoin with the usb miners and sell it?

[ChuckBuck]

But can't I just mine litecoin with the usb miners and sell it?

Even the dual miners won't amount to enough to warrant the cost.

If you spend a little more, you can get the Gridseeds(330 KH/s), but that's already outdated by the Gridseed blades(5 MH/s), the upcoming Lightning Asic Scrypt miners(12 MH.s and 60 MH/s), and the future Flowertech(20 MH/s), Alpha T(16 MH/s and 90 MH/s), and KNCMiner Titan Asic Scrypt miners(150 MH/s and 300 MH/s).

Once these hit the market your USB miners will make pennies a day, if that.

[dinges123]

Any idea when these will hit the markets?

[ChuckBuck]

Any idea when these will hit the markets?

The Gridseeds and Gridseed Blades are available already.  Go to Zoomhash or Hashra to order, or order from the multiple sellers in the "Goods/Computer Hardware" section in this forum.

The Lightning Asic LA12M and LA60m is due in late May.

The rest are pre-order, so YMMV.

[sed]

But can't I just mine litecoin with the usb miners and sell it?

I think that if you're talking about the block-eruptor usb miners, then they do sha256 (btc et al.), not scrypt (litecoin et al.).  Is that what you were referring to?

[Yuki1988]

I can get around 5 asics from amazon for free ( the 30$ usb ones), how much would this earn me? If I connect them all to a raspberry and use this setup would I go over the break even point? If so by how much? Would it earn me more if I mine a different coin?

You can check a profit calculator https://bitcoinwisdom.com/bitcoin/calculator to know how much bitcoin you will get.
With just 5 USB miners, it won't have much result IMO.

[pjviitas]

The break in point for mining now is pretty well 1THs...anything less than that is a complete waste of time and money.

1THs of mining is going to use up at least a complete 15A circuit breaker in your home so if you don't have at least 2 of those available you will have no future in mining.

In all actually you have probably missed the mining bus...take up a different hobby.

Sorry to have to deliver it to you so harsh but its true.

I just sold off 1.2TH/s of ASIC gear because the future of mining is a total wasteland.

[dirtysox]

I had a friend that sold me a GPU setup for very cheap, and I've been mining alt coins for about a month now.  I exchange them to BTC, and then sell them for cash.  I'm hoping to pay off the rig in a few months.  The rig basically heats my house, so the electric cost is a wash for 6-7 months out of the year.  I'm wondering how long my GPU setup will be profitable with this ever changing niche?  Mining Alt coins seems to be the way to go for us small guys/noobies.

[Pheoxy92]

You want to start to mine; p a god ide but it’s unless whit the usb miners they give 333 mhs. If you want try it for fun use my link (it gives me some commission for referring you but do as you like).

You can buy a 5 year contract on http://pbmining.com?ref=pheoxy72

You get 1 GH/S = 2.7 dollar and you pay it one time and it will keep running for five years straight. You can only pay bye bitcoins (0.0056 Bitcoins/GHs  = 2,747 dollar/GHs).
USB miners will not make any good profit

1 GH/S = 2.7 dollar
10 GH/s = 27.47 dollar
100 GH/s = 274,47 dollar

if you have any questions pm me  

[GogglesPisano]

The break in point for mining now is pretty well 1THs...anything less than that is a complete waste of time and money.

Is there any way to tell how long that will last or is it just a crapshoot? In other words, if I had a 1TH miner today it would still be profitable, but could this not be the case in say a month from now?

[Mithril1977]

The break in point for mining now is pretty well 1THs...anything less than that is a complete waste of time and money.

Is there any way to tell how long that will last or is it just a crapshoot? In other words, if I had a 1TH miner today it would still be profitable, but could this not be the case in say a month from now?

It will changes because the difficulty will go up and more hash power is being added. Its hard to 'predict'.

[pjviitas]

The break in point for mining now is pretty well 1THs...anything less than that is a complete waste of time and money.

Is there any way to tell how long that will last or is it just a crapshoot? In other words, if I had a 1TH miner today it would still be profitable, but could this not be the case in say a month from now?

It will changes because the difficulty will go up and more hash power is being added. Its hard to 'predict'.

By the end of the summer your gonna want around 5THs.

[GogglesPisano]

The break in point for mining now is pretty well 1THs...anything less than that is a complete waste of time and money.

Is there any way to tell how long that will last or is it just a crapshoot? In other words, if I had a 1TH miner today it would still be profitable, but could this not be the case in say a month from now?

It will changes because the difficulty will go up and more hash power is being added. Its hard to 'predict'.

By the end of the summer your gonna want around 5THs.

Damn! This seems like a real gamble as it is pretty much impossible to accurately predict a ROI.

I'm new to all this but I'm thinking I will just build a rig with lower power nVidia cards for Scrypt mining since at least the computer can be used for other things and would hold some resale value.

I guess Bitcoin mining will eventually  just be done by gigantic mining farms then huh?

[Bitcoin++]

I'd recommend simply buying BTCs.
IF you have $1000 to invest, fine, it buys you 2 BTCs. Bitcoin's market cap today is abt $6 bln. It can easily go up a tenfold to $60 bln. It is still less than the value of the VISA company.

If you rather invest in $1000 in miners you'll probably never get as much as 2 BTCs from mining. In addition mining takes time and adds to your electric bill.

[Yuki1988]

I'm new to all this but I'm thinking I will just build a rig with lower power nVidia cards for Scrypt mining since at least the computer can be used for other things and would hold some resale value.

What about Scrypt ASICs? They should draw a lot less power than GPUs.

[precrime3]

I'm new to all this but I'm thinking I will just build a rig with lower power nVidia cards for Scrypt mining since at least the computer can be used for other things and would hold some resale value.

What about Scrypt ASICs? They should draw a lot less power than GPUs.

If your referring to gridseeds, I don't think they're worth it, they won't have a good ROI, as in a couple months the scrypt "ASICS" come out like the titan. If you want to mine, I suggest mining a groestl,scrypt-n,x11, etc. algorithm coin.

[BSIG]

Bitcoin mining these days are for the rich people, institutional investors and shady network operation centers.

Gone are the happy days and more into the race to the top.

Unless you're mining for fun, the technical aspects of it. You should look into a low difficulty coin, good luck.

[crocko]

Bitcoin mining these days are for the rich people, institutional investors and shady network operation centers.

Gone are the happy days and more into the race to the top.

Unless you're mining for fun, the technical aspects of it. You should look into a low difficulty coin, good luck.

+1
The BTC price is down, under $800 as it was in January, and all the coins follow this trend.
It is a very nasty time for investing in mining gear, especially in GPU rigs and pre-orders.