So, I'm thinking about buying this for some easy money, I'd just let it run 24/7. Would it be worth it? I mean, its not that much, and its effortless. So do you think it would be worth it? How long would it take for me to get my money back?
Bitcoin mining now is not very profitable anymore. If i was you just save your money and do something else with it. As you still have to account for the power it would be using. There are some guys with whole rooms filled with miners doing it.
In all honesty, it isn't worth the wait. Butterfly labs are saturated with orders, and people are waiting for months before they receive their ASICs.
All the while, bitcoins are becoming increasingly harder to mine. People with $30,000 ASICs will get the best of it. You won't be able to compete with such a small unit. Better to spend $300 on something else.
SInce these 5 gigahash machine will consume approximately 25 to 30 watts. Which is less than most light bulbs. Compare that to a gpu's consumption...
If you have a nice efficient psu and a couple of these running 24/7 it should take perhaps a few months depending on the coin price. One though will take a while.
These are a much more efficient way of mining than multi gpu setups, less heat and less power consumption. Not a bad price either. I really like the 50gh/s model.
Thanks for the link, I havnt been to their site in a good while.
I mean, it only pulls about 30 Watts, but yes, I know that will add up. This might sound like a dumb question but what do you mean that "Bitcoin Mining is not very profitable anymore"? I mean a single bitcoin is about 80 dollars. I hardly know much about bitcoin's or mining. So I might sound dumb but I just thought that this is not a HUGE risk to take. I would like something that I could plug in and mine. I could have this whole thing wrong and if I do tell me. But, this seems simple nuff.
I've been hearing about the orders not coming. So, you don't think this would be nice to me, like I honesty know little of Mining and just want something simple, plug and play type deal. And like I said it's not a HUGE risk to take. If anything if I do want this I will order when they get most of their orders out.
I know less about mining than I know about the orders. I have to say, this is a good price for the unit. If you're happy to spend that, it is up to you.
However, I have seen forum posts with people trading their orders. Each and every person is given a number corresponding to where they are placed in the queue. They are trading up and down. Waiting months for something that hasn't come, and simply selling their orders for less than they paid.
Sounds pretty desperate to me.
i'm fairly certain BFL has yet to ship a single unit
Yeah, thats why I said I would buy fromt hem when I start picking up their act.
I'd only buy when they get their act together.
At this point, bitcoin mining is already relatively resource-intensive and time-consuming, and once ASICs get out on the market, that problem is going to become exponentially larger.
Bitcoin's adding more users every day, to say nothing of people who would be willing to buy multiple ASICs in addition to their GPU.
Just remember your not going to make much of a profit fast. You might earn it back in a few months maybe not even that. Correct me if im wrong but the difficulty of bitcoin is getting much harder now because the amount of people doing it now.
If you really want to make a huge profit go for one of these. But i would suggest not to.
I don't understand why people still make a big fuss about it since bitcoins will get overtaken by competitive big firms, and not consumers. A waste of money, at least with video cards, while you did waste a lot of power you could use them for something else, these ASIC have no other purpose.
Hell, I honestly would if I had money to throw around lmao.
So are you saying don't buy it?
I mean, I'm just looking for something that I can earn about 2-5 bitcoins per year. I know its not alot but it's something.
Guys, I'm not looking for something that will mine me alot. I'm just looking for something that is simple and fun to use. I'm looking for something that will mine about 2-5 coins a year. I'm those kind of guys that like to watch something download and progress. Like, I use to fold just to see the progress and feel like I'm doing some good/being helpful. And If I can buy something that does not cost THAT MUCH and get money out of it, it seems alright to me. Do you guys know if there is any other options other than BFL I can go to?
Maybe wait to see if BFL actually start shipping then get one.
Well then go ahead and buy it, I haven't tried mining, but I'm sure the profitabillity will decrease exponentially, so it might not even be able to pay for itself in a year.
Truth is, this unit might supplement your earnings on an annual basis. Trouble is, the government is trying to shut down all forms of non-centralised currency.
Bitcoin may cease to exist at a later time :/
And after a length of time, these large ASICs will push bitcoins far out of your reach. You probably won't be able to mine with this unit. They get increasingly harder to mine. Soon, only these $30,000 ASICs will be able to mine for bitcoins.