New to mining. Electricity is free. What are some low cost hardware options that'll make enough for grocery costs?
I've been using nicehash on my gtx 1060 and my fx-8350 the last couple days, netting me a whopping $3.12 in 2 days. That's an extra 539 a year so it at least pays for 5/8ths of a months rent. However, I have about $450 to spare that I was going to use to buy bitcoin. I would like to, instead, buy a cheap mining rig that can at least make a couple hundred a month. At my current $46.8/month mining, I think a cheap dedicated rig could easily pull that off, right? I found a "AsicMiner Blade Block Erupter" for $50 on ebay that looks like it doesn't take much power, can be attached to my gaming rig's PSU, and gets 10Gh/s. My nicehash states im currently getting 29Mh/s, so that's a substantial, simple upgrade, right? All in all, if there are other options that I can easily attach to my computer, rather than a separate power supply, that's be amazing EDIT: i suspect my current 29Mh/s is wrong, or the online mining calculators are off, because when i plug in that rate it shows i make about $0.014 per year, which clearly doesnt match up. Can someone confirm this?
Want to invest in bitcoin but willing to accept more risk for more return? Maybe investing would be right for you!
As we all know, companies such as AsicMiner are currently kicking butt with their asics by releasing the eruptor blades and Erupter USB sticks for mining. This combined with their 28% or so of total hashing power for the entire bitcoin network is resulting in fantastic growth over the past few months, and their dividends are doing quite well. If you are interested in shares of AsicMiner , check out either Direct Shares or Pass Through shares, which is just one share of AsicMiner. You can find them in auctions on bitcointalk as well as sites such as BTCT.TO
There are other shares too, such as AMC which just recieved a few Avalons they purchased a while ago. Keep in mind that the owners relations with others on the forum is quite poor and very unprofessional, so I would still consider it rather risky.
There are also companies which are not based on bitcoin but experimenting with it as a source of capital, such as KenilWorth on bitfunder, who are a mining company which finds raw material deposits and then sells them to another company (I think). The people with that company are VERY responsive on bitcointalk and seem to be very professional.
You can even if you wish bet on funds which are reliant upon BFL's shipping, such as HaveLock's Investments Mining Fund. The owner of that fund is also rather response on bitcointalk and is a very down to earth person from what I have seen. For example, they just purchased a single Jupiter rig from KnCMiner in an effort to diversify so if BFL fails they will not be destroyed.
They are also other funds out there which are designed to represent an amount of Mhash/s per each share, for example RedStarMining which aims to have 180 Ghash/s eventually, with each share containing 2.818 Mhash/s.
Also, a very cool thing about these funds is that they are very present on bitcointalk in the securities section, so you can see up to date discussion about each fund. For example, for red star mining, here is their thread: https://bitcointalk.org/index.php?topic=63257.0 You can even get a fund in an exchange, such as Crypto-Trade! Though, they seem to be having some major issues with their site for a while now, which is unfortuntate.
There are tons of such securities available for lots of different styles people could choose, and because of bitcoin buying these shares is a very painless process. But do keep in mind that this is riskier than just holding bitcoin, and there are a good bit of scams prevalent in such securities, but if you keep an eye out and read their associated threads on bitcointalk you will be for the most part safe. Also, investing in companies like AsicMiner increases the network hash rate, making it even harder for a single entity to barge in and get more than 50% of the network hash rate, resulting in an even more secure network! These sometimes even hare shares which cost less than five dollars, so to get started you don't need much BTC at all. And here is the link to bitcointalk for anyone who wants to do more research and look at any other funds which might be of interest. Don't forget that there are some funds which are not exchanged on these sites, for example group buys where each buyer holds a certain percentage of proceeds from a very expensive miner they pool together to buy. As earlier though, be careful.
There is also a really good subreddit for discussing these securities as well as others on /BitcoinStocks ! Edit: Added in bitcointalk threads for each security I listed. Edit: It seems that there are nearly half as many downvotes as there are upvotes. Can anyone clarify?
ASICMiner is auctioning off 10 of their erupter blades over on bitcointalk.org I have been GPU mining for a bit and my returns are tickling down over time and I was not quick enough to hop on the ASIC train when it came into town. I believe in bitcoin as much as everyone else and want to keep hashing away, but affordability is becoming a concern. At the current auction of 60BTC for one blade it equates to about $5280USD for the 10Ghash of hashing power. I don't have that kind of cash to put into the auction and I know fellow GPU miners are probably in the same boat. What I propose is that we all take even stakes and subsidize the cost of the Blade and I will cover the cost of electricity and running it 24/7/365. Profits from the Blade will be proportional to how much you put into the Blade and its overall cost in BTC since the USD value fluctuates and the auction is in BTC. Payouts would of course be in BTC and would be weekly or monthly.
Don't use bitminter's flash miner if you want to mine alt coins with your gpus while going after bitcoin with the ASIC cards (it doesn't play nice if you have wallets running or cgminer working and you'll get a lot of rejects)- but by using a command line miner for sha-256, I can also run guiminer-scrypt or cgminer to hash out alt coins. The best ASIC miner is the most efficient bitcoin miner. Aim for value. ... ASICMiner Block Erupter USB 330MH/s Sapphire Miner. The Sapphire Block Erupters were the first Bitcoin USB miners. They have 330 MH/s of hash power which would net you less than $0.01 per month. ... Antminer R4 replaces the traditional fan with a rotary blade system ... A: If you are asking this, it might be easier to start small with a GPU miner or a Block Erupter Sapphire miner before really investing in this product. However to put it simply, this is a bitcoin miner. It is used to find bitcoins which can be transferred or sold for currency. The price at the time of this review is 1050 USD each bitcoin. ASIC miners manufacturer, Mining farm, Mining projects consalting. Extensive experienced company in the cryptocurrency business. ASICminer Company. BitMain Announcing the AntMiner S5 Bitcoin ASIC Miner; Voltmodding the New Gridseed G-Blade Scrypt ASIC Miner; Overclocking Nvidia GeForce GTX 750 Ti Maxwell for Mining; What is the Power Consumption of the 27 MHS GAWMiners Falcon Scrypt ASIC; MicroBT WhatsMiner M10 Bitcoin ASIC Offering 33 THS at 2145 Watts; 550 MHS BW-L21 Litecoin (Scrypt ...
ASICMINER erupter blade - after 36 hours use - minor power issue
ASICMINER erupter blade ... USB Block Erupter ASIC Miner Review - Duration: ... 1TH Dragon Bitcoin Miner (ASIC) - Basic Overview, Configuration & Performance Video - Duration: 6:10. Just me showing off my new bitcoin miner. It may be small and not make much but it's great for someone looking to get into bitcoin and see if it's something they might like. New video up on actual ... KnCMiner Jupiter - Bitcoin Miner 500GH/s+ 28nm ASIC chips - unboxing and setup 1080p - Duration: 4:18. Florian Uhlemann 131,043 views Though I've gotten a feel for the Bitcoin Mining Environment and don't plan on continuing it myself, I figured it would be valuable to everyone else who's interested in these guys to do a review ... How to setup Gridseed Blade 5200kh/s ASIC Scrypt Miner - Duration: ... A Look at the BFL Jalapeno and Little Single ASIC Bitcoin Miners ... Sapphire Block Erupter - USB Bitcoin Miner 330 Mhash ...