Author Topic: $30 ASIC miner....  (Read 2779 times)

Offline Westie

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Offline Totscha

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Re: $30 ASIC miner....
« Reply #1 on: February 04, 2015, 10:53:09 AM »
Not really worth it, no.

Even if you have cheap electricity  (less than $0.10/kWh) you'll be making just enough to cover for the electricity.

But if you're doing it as a hobby with full knowledge that this will not give you profit, go for it. You'll be mining about 0.3 LTC per month at current diff.

Offline pbleak

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Re: $30 ASIC miner....
« Reply #2 on: February 04, 2015, 11:29:58 AM »
Also you could possibly flip it if you think the price is good/lower and someone with a bigger farm would pick it up. Otherwise a hobby. But there are worse hobbies (I do this too).

Offline Westie

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Re: $30 ASIC miner....
« Reply #3 on: February 04, 2015, 05:38:21 PM »
Not really worth it, no.

Even if you have cheap electricity  (less than $0.10/kWh) you'll be making just enough to cover for the electricity.

But if you're doing it as a hobby with full knowledge that this will not give you profit, go for it. You'll be mining about 0.3 LTC per month at current diff.

Thank you for the reply,   I just got a 1TH/s cloud mining acct @ genesis mining.  I haven't seen a payout in three days... Hrrm...   
Would like to try getting a mining rig to play around with.  I'm new to this game   I don't pay for electricity as it is all included in my rent.   

www.aliexpress.com/item/Antminer-S2-1000G-1TH-BTC-Miner-for-mining-Bitcoin-Most-Powerful-Miner/1909727785.html

The URL says it's a s2 but it actually is a s4 2th/s.   Would this rig be a good start for BBC/ltc?

Thanks again
W

Offline Sukarti

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Re: $30 ASIC miner....
« Reply #4 on: February 04, 2015, 05:49:11 PM »
Is this a hobby or are you trying to make money?

If you are trying to make money, you better be able to answer the above questions yourself otherwise the answer is NO.

https://bitcoinwisdom.com/bitcoin/calculator
https://bitcoinwisdom.com/litecoin/calculator

Use an appropriate difficulty %%, or you are just pissing in the wind. If you don't ROI in 100 days with aggressive difficulty adjustment, you will likely never ROI.

Buy coins, hold coins is your best investment. The only ones coming out ahead in the mining game are manufacturers. EVERYONE else loses.

Offline Totscha

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Re: $30 ASIC miner....
« Reply #5 on: February 05, 2015, 07:16:53 AM »

Thank you for the reply,   I just got a 1TH/s cloud mining acct @ genesis mining.  I haven't seen a payout in three days... Hrrm...   
Would like to try getting a mining rig to play around with.  I'm new to this game   I don't pay for electricity as it is all included in my rent.   

www.aliexpress.com/item/Antminer-S2-1000G-1TH-BTC-Miner-for-mining-Bitcoin-Most-Powerful-Miner/1909727785.html

The URL says it's a s2 but it actually is a s4 2th/s.   Would this rig be a good start for BBC/ltc?

Thanks again
W

Consumer hardware probably won't give you ROI. And the Antminer is BTC only.

And seriously, do the numbers for yourself. Use the calculators Sukarti posted. Any numbers I give you today may not be true next week ;)

Offline cacc

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Re: $30 ASIC miner....
« Reply #6 on: February 05, 2015, 07:23:51 PM »
Also keep in mind that you still need power sources, usb cables, usb hub, and a computer or pi. There are quite a few more costs that need to be considered that make it even less profitable. I have ordered cables from them pretty recently though and they have a quality product and shipping (to Toronto) was next day.

Offline Mr Fusion

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Re: $30 ASIC miner....
« Reply #7 on: February 05, 2015, 10:45:54 PM »
I have a KnC Titan running, which is the most efficient miner at the moment I think, and even that has a ROI time of over 3,5years now. I don't think it will even last that long, so the mining game is not very interesting at the moment. And as long as no new money (new people getting involved in LTC) is put into the system, it won't change much I'm afraid.