*BITCOIN* USB ASICminer block erupter closed - 335Mh/s

[Marco]

Take a USB stick from a stranger and don't complain when he steals your identity.

[elasticband]

Take a USB stick from a stranger and don't complain when he steals your identity.

you have such a positive outlook on the world Marco...... why not come meet the stranger and have a beer and chat and learn a little bit about whats on offer? You don't have to accept it if you don't want

as the OP says i am doing this to promote bitcoin to people who are interested in learning about something new.

[orle]

just bikin' in to say that EB knows his bitcoins

that remineds me, i wos gonna ask you about hardware cos the current market confuses me, am doubting to get Blades or to wait

[elasticband]

My advice for anyone buying mining Hardware for investment purposes would be not too, just buy some bitcoins and sit on them instead, The mining hardware market is very competitive now. The market is saturated with different ASIC offerings and bitcoin mining difficulty has been climbing exponentially since around june.

Mining difficulty is defined my network hashrate, bitcoin blocks are meant to be solved every 10 minutes, but because we are almost constantly adding more power to the network we are mining blocks faster than the defined 10 minutes.

Every 2016 blocks (14 days at 10mins per block) the mining difficulty re-targets based on hashrate so we should go back to finding blocks every 10 minutes. So if the hashrate outgrew mining difficulty that period by 30%(10 days for 2016 blocks), then difficulty will retarget upward 30%, this means you will mine 30% less than you did the previous difficulty.

Due to the current exponential growth, very few miners are braking even on current investments, but every miner has their own story.

http://bitcoindifficulty.com/ - chart showing the difficulty growth (ignore the +6%, this math is wrong)

btcinvest.com - mining calculator, this can give a vague idea of what certain hashrates will mine


edit: Even i get a bit confused when talking about all this, I by no means no everything about bitcoin. It's new and experamental and there is much to learn. Don't let the technical details put you off though. I have 60year old friend who mines for fun(learning).

wiki article regarding mining difficulty - https://en.bitcoin.it/wiki/Difficulty

[elasticband]

here is a grim outlook calculation for the device I am giving away.

http://btcinvest.net/en/bitcoin-mining- ... ction=calc#


hashrate: 335Mh/s
wattage: 2.5w
electricity cost: 0.24e per KWhr
hardware cost: $4

as you can see at the bottom of that page, the calculot thinks if you just bought BTC an held you would make more than buying mining hardware, No one can predict the future though.


edit: also to put it into perspective, this USB csold for 1.99BTC when first produced back in june which was around $250
they now sell of at wholesale prices for less than 0.02 BTC which we will just call $4. Mining difficulty!

edit: Orle you are down for one

[Grunt]

The 335mh/s for 2.5w of power is what interests me.

How can a USB powered device compute quicker than a GTX670 graphics card at such little power usage? (Rhetorical question)

Next time i head over i will PM you my plans to arrange a suitable meet up time and location

[elasticband]

The 335mh/s for 2.5w of power is what interests me.

How can a USB powered device compute quicker than a GTX670 graphics card at such little power usage? (Rhetorical question)

Next time i head over i will PM you my plans to arrange a suitable meet up time and location

Not meaning to rain on the ASICminer block eruoer usb parade but you can get usb devices that provide 2.5gh for 2.5w!!!! They are just not free or as cheap

[gapie]

Thnx elasticband for the USB thingie was a nice drinks a nd a couple of spliffs
And Orle nice vape session

[orle]

hashing with a USB erupter from elasticband

[elasticband]

Great work!

I guess you were able to find all the info you needed yourself to get setup.

not exactly plug and play, how long did it take you out of interest?

[elasticband]

Thnx elasticband for the USB thingie was a nice drinks a nd a couple of spliffs
And Orle nice vape session

Was nice meeting you also gapie, sending you some instruction on setup later/morning

[orle]

I already had BFGMiner installed, so I tried to set that to use the USB erupter. This tutorial said to grab COM drivers first (if on win7). Plugged the device in, disabled GPU mining with the "--disable-gpu" flag, and it switched to the USB erupter right away, crunching happily. I have CGWatcher as a front-end for BFGMiner, but that actually makes it more obtuse cos it gives all kinds of stats I still have to start understanding.

Gapie, ncie to meet & nice to see the Anyday upstairs room,can't say the Verdamper really did it for me but next time I might bring my own vape/bong setup, fits in a small backpack edit: as for the cat in my avatar profile pic, it is een opgezette kat, from this great site http://crappytaxidermy.com/

[elasticband]

Thnx elasticband for the USB thingie was a nice drinks a nd a couple of spliffs
And Orle nice vape session

as pointed out by orle, he used this tutorial to get the USB working - http://bitcoinrigs.org/mining-resource/ ... -bfgminer/

[gapie]

thnx guys ok sorry that de verdamper didn't hit ya orle bring yer portable vape with u
crazy avatar u got orle lol

[TwoCanucks]

Worlds first bitcoin atm opened today in Vancouver

http://www.cbc.ca/news/technology/world ... -1.2286877