bullish on USD. it is clear USD is increasingly popular with past hodlers of the deprecated bit-Coin. USD has gone up hugely in just the past day against the b.t.C!! in the future it is posible with enough imagination that the US economy could run on USD ! in conclusion you should get into currency (186 points, 26 comments)
[USA-IL][H] 4 Antminer S4 2.0 TH/s bitcoin miners with cables, Antminer S1, Butterfly Labs Single, power supply [W] Local cash [Chicago & NW burbs]
timestamp and pictures Selling ≈ 8.2 TH/s worth of bitcoin mining equipment in the following configuration: 4x 2.0 TH/s Antminer S4 bitcoin miners with internal PSUs and power cords 1x 180 GH/s Antminer S1 bitcoin miner 1x 60 GH/s Butterfly Labs "Single" bitcoin miner 1x Dynex DX-520WPS PSU with cables to power the S1 and the BFL single Everything works as it should within spec for performance, heat, and power consumption. The Antminers' cases show evidence of being moved and re-setup a few times (because they have been) but all issues are cosmetic only. The biggest blemish is a rip in the plastic protective layer over one of the status LCDs on the front of the S4 units. Asking $1300 for the whole bundle, local cash at pickup or delivery within 50 miles of 60169.
The $22,484.00 Butterfly Labs Mini Rig bitcoin miner is a huge, broken, unstable piece of shit.
(This was a rather controversial article posted on Buttcoin.org and became quite popular, even moving to the top of /bitcoin. It's since been mysteriously edited on the site [maybe by g-g-g-ghosts!] so it's being reposted here for posterity's sake. Some numbers may be off by now, but it was all accurate at the time of posting.) Butterfly Labs has a long and horrible history with their mining rigs. They started taking pre-orders over a year ago, with a ship time sometime in late July. After numerous delays in production, shipping problems and general incompetence, the only thing they’ve managed to get out the door are some of their tiniest miners, the Jalapenos. And those mainly ended up in the hands of reviewers and blogs in order to keep pumping the Butterfly Labs hype train and securing millions of dollars of pre-orders still in limbo.Lucky BFL forums user Luke-JR however scored a sweet Mini Rig from Butterfly Labs (it’s just a coincidence he’s a driver developer for them I’m sure). This rig was originally promised to produce 1500 GH/s hashing power at 1500 watts for $30,000, but has since seen it’s hashing power slashed to a third of what was promised and it’s power consumption increased 75%, now just offer 500 GH/s at 2400 watts. They’ve promised to make good on pre-order buy sending out 3 rigs to match the initial hashing rate, so now it’s only 1500 GH/s at 6900 watts, a reduction in GH/Watt by a factor of 5. So what does $22,484 buy you? Take a look!
Minirig is here! Today, my Minirig arrived. http://i.imgur.com/Yp0WPvE.jpg FedEx apparently dropped it somewhere along the way, and the weakest part of the case, the thin metal part around the back of the PSU, broke. http://i.imgur.com/lFcOHxP.jpg I’m not sure how sturdy the back side was supposed to be, but its two pieces aren’t quite together either. http://i.imgur.com/AVttcOt.jpg The power supplies (EVGA 1500W) also created havoc interfering with the neutral on the power line. This disrupted X10 communication significantly enough that the pool overflowed because the system controlling it was unable to turn off the pump. Workaround: This PSU supports 240V, so we rewired the outlet. 240V does not use neutral, so now all should be okay. Edit: 240V workaround is only partial. Still having problems But the good news is, it all seems to be working for the most part. Next up, installing it in the window so the heat goes outside
A twenty two thousand dollar box of electronics that is broken out of the box, that required the guy to do a sketchy electrical workaround to get partially working, that he is going to install in a window… and he’s happy about it? In case you didn’t notice it, the delivered unit is different than the picture on the website. They had to install 2 power supplies instead of 1 and had to modify the case to fit. Also, if you didn’t notice, the LCD/Phone thingy in the front has been replaced by … a piece of cardboard spray painted black. Wonderful. You could maybe chalk this up to a careless Fedex postman, but when you’re shipping something that costs as much as a mid-sized sedan, how bought putting a little more effort into packing? Dell and HP can ship bigger and heavier servers across the world without this kind of problem. The unit had to hit its huge power draw increase by putting dual EVGA consumer grade power supplies in the unit. We’re talking almost a 75 amp load (6*1500/120), disregarding power factor. He could very well overload the circuit panel and trip the main breaker for the house. Let’s take a look inside this guy. This is from an earlier version of the Minirig (note the single power supply) This is apparently from an earlier FPGA but it will give you a good glimpse at what kind of craftsmanship you can expect from a computer that is half the average household income in the United States. Consumer grade PSU and cheap USB hubs glued to the inside case. Electrical tape and random velcro glued to the insides A closer look at the USB hubs. Plugs are hot glued to stay secured. Electrical tape everywhere, splices and voided hardware are the theme. You can view the entire album here. Despite all that, this thing can still mine bitcoins and it should be profitable. Keep in ind that many people jumped in on the preorders a year ago when bitcoins were still hovering around $6.50 per. Meaning customers paid 1562 bitcoins for that particular piece of shit, which at today’s value is $156,200. Aston martin money. How long will it take them to make their money back (as apposed to just hanging on to them)? If the difficulty didn’t change, they would make 37 bitcoins a day and recoup the initial investment in 124 days. Difficulty is jumping pretty much 20% every 12 days or so, so in the next week before adjustment, they’ll make 259, the next 12 days 369, the next 12 days 312, then 256, then 213, etc. So by day 127, they’ll be halfway to breaking even, but by day 151 they’ll be making less than 5 bitcoins a day, and even if difficulty stopped rising at that point(which it won’t), it would take another 435 days for a total of 586 days to break even. If difficulty kept rising at the same pace, by day 200 they’d be making 2.4 bitcoins per day, and it would take 1024 days to break even with no difficulty increase. Assuming 25 cents per kw/h, and $100 a bitcoin, it would cost 0.43 of a bitcoin per day in electricity which means the unit would no longer be profitable on a power usage basis by day 307, at which point it will have produced 2620 bitcoins. Bear in mind this is only for the first few units, and that’s running 24/7 pumping out around 24,000 BTU, so yes, medical bills from heat stroke will be on top of that. But Alas, the chips don’t run nearly as well as they’re supposed to, frequently running too hot and giving multiple hardware failures. Coindesk noted in one of the first ever runs of the Minirig by hosting provide gigavps that it was running much too hot and erroring out.
At the time of posting, gigavps warned that the unit would be repeatedly shut down while ckolivas, who was assisting, modified the machine’s software to optimise performance. After some tweaking, the device was said to have been left to run continuously for two hours, and was shown to have an average hash rate of 478.1 GH/s. As you can see in the table below, ASIC number four (of a total of eight hashing chips) ran significantly hotter (86 degrees) and consequently gave the highest hardware (HW) error rate. http://i.imgur.com/q3iGrnb.jpg
So, what happens if you just decide you don’t want this, you don’t want to wait over a year to get a $22,000 broken piece of shit? Nothing, because BFL won’t let you cancel your preorder because they’re now “shipping”, i.e. they sent out one unit to their own company shill. http://i.imgur.com/0p3Up03.jpg Which is of course illegal regardless of what Butterfly Labs may say. So in summary: Don’t buy anything from Butterfly Labs … ever.
Great news! Butterfly Labs is Shipping Monarch Bitcoin Miners Monarchs run at 700 GH/S with a power efficiency among the best in the industry at 0.70 W/GH. As a reward for our customers’ patience and loyalty, we are adjusting hashing power for existing orders in the queue to $1.97/GH (for 700 GH, effectively $1,379). Shortly before a customer’s order is ready to ship, they will receive details about their individual options. Those who have closely followed the Monarch development will notice that the 700 GH comes in above the 600 GH performance specification we originally mentioned, but below the 1TH/s level we are aiming to achieve based on the strength of the underlying ASIC chip. While we have achieved much higher speeds on test boards, our engineers are still working toward a board solution that will deliver higher speeds within the power consumption, and the temperature range required.
This is my understanding of the current state of BitMining, how far off am I? What would you recommend for a new miner with a bit of cash?
I'm newish to bitcoin and mining in general but this is what I've figured out so far, am i close?
CPU mining is basically not worthwhile anymore. Unless you have a ton of computers sitting around idle? Such as a system admin of a school who can run a miner on a large number of computers during non-school hours.
GPU mining is almost one foot out the door. If you have equipment already you might as well use it; but the days of going out and running 4+ GPUs are no longer worth it due to initial costs and power consumption?
FPGA - I haven't been able to dig up much of information, i found one vendor that said they suspended production due to declining demand. I've only seen a few people talk about using them, but it seems like not many people adopted this?
ASIC - this is the current top dog, but there is a very limited supply. Avalon's 3rd batch sold out in ~30min and they cost 75BTC, people have said Avalon isn't going to do a 4th batch.
Butterfly labs has been selling per-orders for ~5-6 months now, and none have shipped? Most people say this is a scam or will never come to market and people will get a refund at best. If they did ever materialize at the specifications stated they would be worth while because of the lower cost and power consumption compared to the Avalon.
If Butterfly labs does ship; or if Avalon does a 4th batch, and either option takes 2-3 months to ship and arrive at the door, would it be too late for new miners to jump on the ASIC bandwagon? I seems like mining is a race to get the newest equipment first and cashing out the initial investment early. Is this a good summary of the current state of bit mining, or am i completely off? I'm looking at getting into mining; however i feel like I'm so far behind the ASIC wagon that if i did get a ASIC system, it would take a long time to break even and "the next best thing" might be out by then? If it makes sense and will have a decent break even point (60-90days) I have about $1800 i can invest in mining from selling some stocks that have been stagnant for a few months. What would you guys suggest?
I've been mining on my 6850 for a few months and I've decided that it's pathetic. I understand that "when ASICs arrive" it will change the entire mining ecosystem, but given the perpetual delays in shipping (at least from Butterfly Labs), I want to build my own GPU powered miner. I have about $4k USD to put into a system (or multiple systems if that's a better idea) and I'd like it to hit at least 3.5 Gigahash/s. So here's my questions: 1) To keep the machine viable as long as possible, it needs to be power efficient. The numbers I've seen on the new 7990 put it at about 1.2 Ghash for 375 watts of consumption (https://en.bitcoin.it/wiki/Mining_hardware_comparison and http://www.tomshardware.com/reviews/radeon-hd-7990-review-benchmark,3486.html) - 3.2 Mhash/watt. Would I see better efficiency numbers from a different card? 2) I understand that mining does not require the card to be in a full speed PCIe slot to get optimal hashing power. If I use a 7990, is the fact that it is a Dual-GPU card going to require more than a 1x PCIe slot? Or, more specifically, how much bandwidth does hashing require per Mhash/s? The answer to that question leads to the last question - 3) If I build a setup with a backplane for additional PCIe slots, how many slots could I realistically add before Windows 7 Ultimate x64 fails to recognize the devices or otherwise derps out? I'm not against setting up with a Linux based system, I just haven't seen appropriate drivers available on that platform. (Side note - do I NEED Catalyst drivers to run an OpenCL miner?) Any advice or information on suggested builds would be appreciated, and I'll tip helpful people. Thanks!
Open Source startup CoinNinja (www.coinninja.com) launches its first product geared for miners of the Bitcoin crypto-currency. The MineNinja is a turn-key device for hosting Bitcoin mining hardware, such as ASICs from Butterfly Labs, Avalon, and ASICMiner. With the bitcoin mining market rapidly moving to ASIC devices which provide more Hash power per watt, the MineNinja is the perfect compliment as it further reduces power consumption by eliminating the need for a PC. "We chose the BeagleBone Black over the Raspberry Pi as it is truly open source. The BeagleBone design is totally open, and that cannot be said about the Pi. Furthermore we found the BeagleBone to be far more reliable, and operating temperatures to be significantly lower.” Leveraging the power of Open Source development, the MineNinja is a great example of the Maker revolution for innovative small business. The MineNinja is small batch manufactured using the Open Source BeagleBone Black from Texas Instruments and its enclosure is 3D printed on an open source RepRap 3d Printer. The MineNinja is so low-power that it can easily be powered using only a USB port. "We believe in the Open Source movement, all of our hardware and software is fully open source. We encourage users to make their own MineNinja, everything needed to make your own be easily found in our Github repositiory." - states Alessandro Nardella, Lead Developer at CoinNinja. The MineNinja leverages existing open source software such as Angstrom Linux, Cgminer and the ANUBIS web front-end to Cgminer. The MineNinja uses the BeagleBone Black without any hardware modifications, which allows users to further refine the product by adding their unique contributions. The MineNinja BeagleBone Bitcoin miner is available today in limited quantities at www.mineninja.com.
Butterfly Labs (BFL) is a company that creates Bitcoin mining hardware. One of the earliest bitcoin mining hardware manufacturers offering ASIC devices, Butterfly Labs have come under fire from bitcoin miners who have had to wait patiently due to lengthy production and delivery delays. The company is headquartered is located in Kansas, United States. At the 1 watt per Gigahash/sec spec that Butterfly Labs originally suggested, scaling up the power consumption on the 5 GHash/sec units to 1,500GHash/sec would require around 1500 watts. Hoskinson ... Fast forward to today when Butterfly Labs offers for sale their BitForce SHA256 Mini Rig. The base configuration of this rig contains 18 FPGA cards and costs $15,295 (plus s/h). The illustration above shows a rig holding its maximum 24 FTPA cards. The result is the first time that 25 Ghash/s has ever had such a small physical footprint. With power consumption at 1,250W the efficiency ratio ... Other required equipment necessary for Bitcoin mining ·Miner’s power supply. Since Bitcoin mining needs its own power supplies to operate, you can’t just plug into an extension-cord as it uses lots of electricity to run. You’ll need to get a power-supply that may cost you on about $100-150 depending on your location. ·Coiling fans I wonder though if one of these would be worth getting, as when the ASICs all start hitting the market (including massively more powerful ones), the total bitcoin mining power out there will go up ...
Bitcoin Miner Software - how to mine bitcoins faster !?
Hash Rate / Normal Mode 208 GH/S Hash Rate / Overclocked Mode 256 GH/S 2nd Gen Avalon 55nm Consumption: 700 Watt easy overclocking - just adjust chip frequenzy with a mouse click available at http ... Butterfly Labs 5 GH/s ASIC Bitcoin mining rig, the Jalapeno Part 1 - Duration: 7 ... BITCOIN MINING - USB BLOCK ERUPTER POWER CONSUMPTION WHILE USING ANKER 9 PORT USB HUB - Duration: 12:14 ... Just received the 60 GH/S Bitcoin Miner from Butterfly Labs, connected everything and switched it on... Flash! Bang! and smoke all from the Power Supply Unit, immediately switch it off again. Took ... For example, a good bitcoin miner like the Monarch from Butterfly Labs provides 600 GH/s (1 Gigahash is 1000 Megahash. 1 GH/s = 1000 MH/s) while consuming 350w of power. Compared to the GPU era ... Butterfly Labs ASIC Miner 60 Gh. Butterfly Labs ASIC Miner 60 Gh . Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Watch Queue Queue. Remove all ...