I ponded whether or not to mine bitcoin, then the ASICs were announced. Luckily, I didn't preorder Butterfly Labs, but that whole scenario made me a skeptic. I pondered whether or not to buy a Bitcoin ASIC (the first month the terraminer was on Preorder), and I let that slip by. I pondered whether or not to mine Litecoin, and that slip by. I'm still very skeptical about Litecoin ASIC shipping times so in the meantime, I decided I will buy one when they are available to ship, not for preorder. Till then, I decided to force myself into purchasing high performing cards and mining. I think about things WAY too much and often end up convincing myself not to do them. There's no going back, I'm tired of looking into the water and trying to see if it's warm or not— debating whether I should dip my feet in. I've jumped in 8 graphics cards deep. I've been looking at building guides for months, but after mark-ups and outdated builds, I'm reaching out to see what builds would be good for mining with these 8 cards. Any links or advice would be very much appreciated. SIDE NOTE: I have two GTX 690s I purchased for my incredibly powerful, yet amazingly irritating hackintosh, which I am now incredible frustrated and eventually will be turning in for a Mac Pro. I've been getting about 1150 KH/s with the two cards running CudaMiner on OS X or 530~560KHs Vert— Do you think it's worth it to keep the cards in my new build? Or sell them on eBay? http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=291126412466 TL;DR part 1: Bought 2 XFX/6 Sapphire 290Xs for $2400, $300 each, and I would like to know what is the most efficient, cheapest mining rig to build around it. I have looked at many guides (not the software quite yet), I am open to using Linux as I hear that is the best and would preferably like to be able to control the units remotely. part 2: I also have access to two GTX 690s hashing at 1150kh/s scrypt, 530~560KHs scrypt-N— is it worth running these if I have access to free electricity? Or should I sell them on ebay?
My experience with Bitcoin: How I lost $5k and a potential profit for over $42k.
Happy Dec 1 everyone. I can't sleep tonight and I have something to get off my chest, so story time. I got into bitcoin soon after the crash in April. I was very interested in bitcoin and the way it worked and finally decided to buy when the price was around $105-$125 range. I spend $5k total and got around 42btc. That $5k was my life savings but I believed bitcoin was the future. At this time I was still working at my minimum wage job and barely getting by. I wanted a way out of my horrible existent. I wanted to go to school again but I was too worried about paying my bills or if I was going to make it the next month. I thought bitcoin was my way out. I was inspired by the stories of the people that "forgot" their wallet and all of a sudden they were tens or hundred-thousandaires. While I was doing research I stumbled upon the bitcoin forums bitcointalk.org. I thought about mining bitcoin but didn't have the hardware. I don't have an awesome rig that can and I couldn't afford the asic units that butterfly labs were selling away. After a few weeks I learned that butterfly labs were not to be trusted and asicminer announced they we selling the usb miners. At this time the general consensus was that mining will never be profitable but I bought some anyway with the plans of reselling it. I got into bitcoin stocks because of asicminer. I have a few shares at the time and eventually got more and reinvested the dividends into the 1/100 asicminer. At this time things were looking up. I had a usb miner hashing away and asic miner was going up in price. After a few weeks I sold my usb miners on ebay and got a good deal on it. I went over my breakeven point and had extra money. So I used the USD to buy more bitcoin with bitinstant. Bitinstant has a meltdown and didnt get my btc in time to reinvest in asicminer. The price shot up to 2.5btc a share and I missed out but it was ok. This is the high point of my life and experience with bitcoin. The dividends from asicminer was helping me pay some of my bills. I had a great investment going and I was richer than I had ever been. Bitcoin was my savior. Bitcoin was my answer. I got so excited about it I told my parents but they were disenchanted. I was met with "Why do you always daydream? Why can't you just go to school and get a real job? Imaginary money, fake money, scam." I'm not that smart so its hard for me to go to college but everyone keeps telling me you have to go to school to get a good job. Well the next month came and ebay hit me with a 10% fee for successfully selling my stuff. I didn't know about the fee so I was caught off guard and now my bank account is in the negative. I didn't eat for the next few days while I was waiting for my bitcoins to turn into USD and transfer to my account. I have been spending a lot of time lurking bitcointalk.org and there was news of these new start ups. BTCgarden and Labcoin. I was thinking I'll show my parents that I'm not daydreaming, I'm going to make it big and they won't be disappointed. So I sold all my asicminer shares and had around 90btc all together. I split between the two and when BTCgarden failed I dump the rest into Labcoin. Asicminer was falling in price at this time and I was glad I made it move. At the height of Labcoin I had over 150BTC. I thought I made it. I was happy. The next day burnside [stock exchange operator] announced he was going to close down his exchange and the price for everything plummeted. I didn't find out until a few days later when I was my stocks were worth 1/6 of what they worth. I was destroyed, I didn't know what to do and I was drinking the Labcoin cool-aid hard. I thought that its ok, the price will go back to IPO and I can sell. Months pass and I lost my job. I couldn't focus at work and I was really pissy. Now I'm sitting on useless Labcoin shares and joined with the group of people looking for a lawsuit, knowing full well I'll never get my money back. I lost my apartment last week and I had to go home with my parent (who are rubbing this shit in my face every chance they get. That is the reason why I moved out in the first place). I had the worst thanksgiving ever and I'm not looking forward for Christmas or the New Years. Its hard trying to find a job. I don't know what to do anymore. Its killing me that bitcoin is over $1k. If I had just kept it in my wallet and didn't touch it I would have over $40k now. Hindsight is a bitch. Thanks for listening. I hope you guys have a better time with bitcoin. TL;DR: This is not a bitcoin success story. Its a story about my highs and lows and ultimately my failure.
I have a Raspberry Pi and want to learn about bitcoin mining so I am looking to get an ASIC miner for educational purposes. I'm not trying to spend a ton of money so I was thinking of getting a Butterfly Labs 60 GH/s off of ebay. Are there any other ASIC miners I should be looking at that's compatible with the Raspberry Pi?
[US-CA][H] 5+GHs Bitcoin Miner (BFL Jalapeno) [W] Bitcoins or Paypal
Hey! I have a Bitcoin miner that I'd be willing to part with. I want to sell this model of Bitcoin miner. It is plug in and play, just grab the software/drivers from the Butterfly Labs Website and you will be making Bitcoins in no time. The miner only has about a month of wear. It will not be shipping with a PSU however, as I need it's PSU for another miner, but it just takes a standard 13V/6A DC PSU. I'm looking for ~40$ plus shipping. The miner tends to mine between 5 and 7 GHs. Confrimation: http://i.imgur.com/Rp4Lbh6.jpg I look forward to doing business with my fellow Redditors!
Basically I wanted to sell my ASIC miner on gumtree. but my Add kept removed from the site. so I have asked them why. here is a transcript of the chat :) http://puu.sh/54I2b/20db0c8979.png • Rossana P: Hello, you are chatting with Rossana, how can I help? Kindly provide your ad id or email address if you haven’t already provided these details on the pre-chat form. • You: Hi there, i have question regarding my add which has been removed • You: Ive checked the allowed items on your gumtree : http://gumtree.force.com/Help/articles/General_Information/Items-not-allowed-on-GumtreeYou: and cannot find anything regarding my product that i wanted to sell • Rossana P: Let me take a look at that for youYou: yes please • Rossana P: Your ad was removed as we do not allow bit coins and other online points to be sold. Therefore items that contain this are not allowed • Rossana P: are you there? • You: sorryYou: yes • You: it is not bitcoin • You: its a device which can be purchased from your sister website ebay. • You: REf: http://www.ebay.co.uk/itm/Butterfly-Labs-BitForce-60-GH-s-BFL-ASIC-Miner-In-UK-/271306181008?pt=UK_Computing_Other_Computing_Networking&hash=item3f2b1bc990You: it is listed as computing and other computing hardware • Rossana P: let me check for you • You: sure! • Rossana P: I have looked into this for you and as you can receive bitcoins with the device and we do not allow bitcoins, we cannot allow your item • Rossana P: I apologise for any inconvenience caused • You: This product does not explicitly receives bitcoin. it is a sha256 processor which designed to perform calculations. having said that it can be used for bitcoin calculations. • You: you are allowing computer to be sold, bit coins can be gained from computers too • Rossana P: Yes, however as it can be used for bit coins we do not allow it. I apologise for the inconvenience caused. We will gladly allow other ads posted by you however in this case we cannot • You: may i know the difference between allowing computers and not allowing ASIC devices? • You: just to inform you.. Mobile phones could be used to produce bit coins • Rossana P: I can imagine that this can be frustrating to encounter however we cannot allow your ad. I will forward on your feedback • You: You took the time to give me an answer for which I didn't questioned. • You: Computers, mobile phones, graphic cards can be used to gain bitcoins.. why would you restrict ASIC devices only? • Rossana P: these are our posting rules and as this devices can be used for bit coins we do not allow it.You:http://gumtree.force.com/Help/articles/General_Information/Items-not-allowed-on-GumtreeYou: is your restriction. could you please point me out where exactly i can find about this device?You: on your restriction list* • Rossana P: The item is not named in the list however it can be related to virtual merchandise due to bit coins which we do not allow • You: define merchandise. • You: it has nothing to do with VIRTUAL merchandise • You: it is an actual product which is capable of perform complex calculations. it can be used for mathematical purposes, educational purposes anything but calculations • Rossana P: As advised these are our terms and conditions and we cannot allow you ad to go live as the item can be used for bit coins we do not allow. I apologise for any inconvenience caused and I can imagine that this can be frustrating , however this does not comply with our posting rules as advised by our policy review team, with whom I have consulted. for this reason I cannot advise you further or otherwise on the matter.You: would i be able to take legal action against you? because you haven't listed the item on your restriction list. And failing to give provide a correct statement. • Rossana P: As advised we do not allow the ad as it can be used for bit coins which we do not allow. I cannot advise you further or otherwise on the matter, for that reason I will have to terminate this chat And disconnected :D
ELI5: Why getting ANY asics minig rig (even 60ghs) appears to be unprofitable to start right now? Is there ANY way to start mining profitably? [genisisblock image in comment]
I've read a TON about bitcoin and litecoin mining, but I'm still confused on why buying an expensive rig is supposedly unprofitable? For example, one can buy any number of butterfly labs asics miners doing 60ghs on ebay right now for around $1400. But according to these charts from genisisblock, there is absolutely no way to get ROI with them. Is that really correct? Does it take into consideration the (purely speculative) potential future rise in price of bitcoins? Does it assume you are only mining as part of a pool? What if you bought 5 60ghs machines and mined independently instead of with a pool? Is there any math there that works out to profitability? Another thing I don't get is the Monarch 600ghs miners shipping in January.... Even if you were to buy one and start mining in January, it appears they would IMMEDIATELY be unprofitable! How can this be? Lastly, say you had 10-20k cash to start with. Are there ANY machines you could buy right now (think ebay or any company currently shipping) that could get you profitable for even a few months with that kind of cash?
[WTS] Last chance, only 19 hours left! 6.6 GH/s BFL Miner
I'm selling my BFL miner on Ebay. It sells in 19 hours, so if you bid the highest, I'll accept Bitcoins as payment (you can see in the description I say that I'd accept alt-currencies, with a wink wink nudge nudge). If you have any questions, please ask!
[WTS] YOU HAVE TO WIN IT FIRST! 6.6GH/s BFL Miner BWAAA
Catchy & attention grabbing title: Check. I'm selling my BFL miner on Ebay. It sells in 4 days, so if you bid the highest, I'll accept Bitcoins as payment (you can see in the description I say that I'd accept alt-currencies, with a wink wink nudge nudge). I don't THINK it's against the rules to post here for something on Ebay, if it is please let me know.
I'm looking to raise some money to develop a advanced Bitcoin shopping cart system. I'm trying to raise some money so I've compiled a list of helpful links for those of you who use or plan on using Bitcoins. Please donate to my Bitcoin address if you find this list helpful and to help the development of my projects Bitcoin address 18e2MbUAbH7jNpYtY9Qt2WFUZpagCCEaVs
http://wtcr.ca/ -Number one because the ship almost instantly. Rates do tend to me a lot more but you know for sure you are getting what you ordered in a week and a half of less. No BS preordering and mess
http://cointerra.com/ -2th miner for 14k. Best deal, has the most reputable staff, and is more for the customers then themselves
This short video clip demonstrates the sound levels of the Monarch bitcoin miner during testing within the test facility's anechoic chamber. The registered 5... BitCoin Mining Hardware Guide ft. CRAZY Obsidian Mining Rig - Duration: 8:30. ... T4D #82 - Butterfly Labs ASIC bitcoin miner, Fluke 107...and a fair bit more. - Duration: 25:51. mjlorton 25,249 ... The Butterfly Labs 5 GH/s Jalapeno. This is the small ASIC miner from Butterfly Labs. So in the first 10 or so minutes one of these units produced more bitcoin than they GPU mining for 3.5 days.. Butterfly Labs 5 GH/s ASIC Bitcoin Miner (Jalapeno) Review - Duration: 11:42. andrewesquivel 22,125 views. 11:42. The incredible ibex defies gravity and climbs a dam Forces of Nature with Brian ...