Five USB Bitcoin Miners in Comparison- Bitcoin Mining

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Due to the influx of new blood into crypto, its bound to happen a lot of newbs will make a few mistakes along the way. This is an area where a lot of research is best for new users into the mining camp. So I am here to educate on this today in hopes it sways people from making a similar mistake. When you get into Bitcoin mining as bitcoin mining asic usb bitcoin new user, you got to do a lot of research and take the time to focus on the time stamps of posts on forums and articles.

What was good back in is not going to be valid for your adventures in mining in Reason is a few factors that you must educate yourself on but the list is as follows: A hash is the output of a hash function and, as it relates to Bitcoin, the Hash Rate bitcoin mining asic usb bitcoin the speed at which a compute is completing an operation in the Bitcoin code. A higher hash rate is better when mining as it increases your opportunity of finding the next block and receiving the reward. Ultimately the more hashing you can get out of your setup the faster you can find the blocks where the rewards are located.

Hash rates in miners back in were way lower and less power efficient compared to miners being built now a days. Bitcoin mining asic usb bitcoin difficulty is an estimate on how difficult it is to mine aka find a new bitcoin block. Bitcoin mining has two main purposes. One is adding transactions to the bitcoin block chain. The other purpose is to create new bitcoins. The total number of bitcoins that will ever be mined is limited to 21 million.

Every day that difficulty is increasing so therefore miners being pawned off as used and from years ago tends to not retain that return on investment factor too well because they take bitcoin mining asic usb bitcoin to over come this issue of the increased difficulty that is in place with the algorithm.

The last factor when you go to purchase a Bitcoin miner is how much power that bad boy will draw from the wall. This area is more important than most factor in. You can literally spend more in electricity vs what you make in profits if you purchase a very dated miner that does not keep up with the returns vs expenditure of your power bill.

In this area I have found anything older than is pretty much only useful to those with solar power or want to make a miner a nice heater in the winter, even at that they are more expensive to bitcoin mining asic usb bitcoin as a heater in place of a real heater. When you put all these factors in and do some serious math you will find out that a lot of the stuff you see on Ebay is literally in most cases people passing bitcoin mining asic usb bitcoin dated old equipment onto new users so they can virtually upgrade their mining systems for better miners.

This area I think is a tad unfair to do to the new users coming into the space but it is also on people to educate themselves on what they are buying so there is a sad catch 22 on what is worth your purchase and what is not.

I don't view any USB miner at this stage worth anyone's time because they are underwhelmed in return of investments when you crunch the numbers. Honestly the only given advantage I see with USB miners at this stage is a fun way to learn what crypto currency mining is like. Its a cheap route to learn the technical ins and outs of mining but please remember this route of mining is not going to get you rich unless you run these bad boys for 50 years straight and you cash out for retirement.

The biggest downside isn't its power efficiency on USB miners, in that aspect they don't really draw too much on you if you have a bitcoin mining asic usb bitcoin running. They are just not with a lot of hash rate, when you stack them up your actually better off to buy and actual ASIC miner machine which would be way more cost effective in the long run.

These also heat up bad, they are known to not have long life spans unless you put some fans on them to keep cool. In the end until there is a new line up of these that out hash the current miners, USB miners are virtually at this stage a thing of the past.

Trust me when I first got into mining I made a few bad purchases myself off of old Ebay. I got pawned off onto some old Antminer S4s that virtually break even when I run them full on weekly.

He could have bought bitcoin mining asic usb bitcoin couple ASICS way more profitable so I wanted to put this out there in case someone else hits up old Ebay and gets conned into thinking such an investment will help their families out. Be wise out there, cheap does bitcoin mining asic usb bitcoin mean cheap even in Bitcoin mining, you still get what you pay for in this area even though its crypto.

I just hate seeing new users get taken advantage of because they didn't get the proper info. I can't hate someone for selling off old miners but they should be up front about the fact buying a lot of bitcoin mining asic usb bitcoin like that can be a waste of money on someone. USB miners are great if you want to learn or add a few hashes into the mix but going all bitcoin mining asic usb bitcoin on them is not cost effective.

Haven't had a chance due to the massive growth in SBC to sit and watch it but I did repost it for them on our pages. Its growing so fast and we are developing some stuff that its hard to find time to sit and chill anymore lol Hehe must admit, your previous article had me looking at gear What about these in the cloud miners? Are they worth bitcoin mining asic usb bitcoin Genesis and the like. Or do they just fleece you with commissions etc. I am still very skeptical about cloud mining It seems to me you have to keep buying more hash to return profits so I am unsure by the math completely how good they are.

Its virtually renting miners when you can end up owning them bitcoin mining asic usb bitcoin USB Miners were great a long time ago but they don't go anything for anyone now a days. I just hate seeing the unloading of so many useless miners on sites like Ebay and Amazon lately Hello my friend, your posts are awesome I vote for your posts Please vote for my posts thank you mohammadreza.

I really appreciate that, give me a little bit, was just about to hop off bitcoin mining asic usb bitcoin soon as I return I will check out your posts. Thanks for that upvote, means a lot. This article is really worth reading Well done, my friend sflaherty.

I just hope people really crunch the numbers before buying a miner, it can be bitcoin mining asic usb bitcoin benefit to mine or you can literally break even or actually spend all your profits just to mine. Honestly you can make change with them if you run a long time but I would not expect a big return on them.

Thanks for the warning Computer specs perhaps and on what crypto coins? I have tested lately what Bela coin has launched just about 3 days ago using only my desktop computer, of course it is not much but I am just trying to test the waters at this time Are you talking about Belacam? I actually used to be heavily active in the Bela slack a year back but kind of moved on from them, seems like it might do something but I am unsure with the tipping system they got running in there if it will do well.

Always research when it comes to mining my friend. I honestly recommend for starting out to mine with a GPU or CPU, just to learn it, CPU mining won't get bitcoin mining asic usb bitcoin a lot but it always helps to get the idea of how it runs and works. Bela just introduced their own mining for their coins. Here is my post about it: With Belacam I tried it too, months ago when it Beta launched, there were too many issues in posting your image at that time so I just forget about it.

Wow had no clue the reopened up bitcoin mining asic usb bitcoin for Bela again lol. I was early on that coin back in the day, used to have long conversations with their dev team when they were a small group. I have to check that out, maybe this will boost SBC's profile lol. I am following them on Twitter that's why I got the info early.

It never went as high as I expected then it dropped that I lose some money with it. Not much, but it was one of the few times I lost with trading back then Kind of why I stopped messing with bela, too many ups and major lows over the last year. They try but they always kind of half deliver Thanks for the very informative and enlightening post on USB mining. I guess as with all things, it doesn't hurt to do a bit of research before diving.

I agree, especially with bitcoin mining asic usb bitcoin. Extra time to research can save a person for getting into a bad investment.

Mining hardware can do you right or completely waste your time and bitcoin mining asic usb bitcoin due to the rate of progress in the technology. USB miners are good for little side learning, maybe add a few small hasshes to your mix but trying to mine on them solo is just bitcoin mining asic usb bitcoin huge waste of time at this stage sadly. I just wish they would stop trying to pawn off dated miners on users out there.

Where the money is at, is selling mining equipment, selling mining services, ect. Sell something to crypto people to make the money, if it is a useful thing they will buy. I agree if it is useful they will buy but honestly most of the miners I see right now on Ebay are literally not worth even looking at if its built prior before I got trapped on 2 miners myself in my early days.

Bought 2 antminer S4s without doing the cost of electricity vs profit margin. People are in droves trying to pawn off these same exact miners I bought to upgrade their equipment. So, you saying that no need to use low cost and easy to use miners like these https: Thanks for giving your valuable advice on Bitcoin Mining. Surely this will affect the miners right.

Newbs Guide to Bitcoin Mining: USB Miners aka Block Erupters and Their Lack of Usefulness for Mining bitcoin mining asic usb bitcoin When you get into Bitcoin mining as a new user, you got to do a lot bitcoin mining asic usb bitcoin research and take the time to focus on the time stamps of posts on forums and articles. Authors get paid when people like you upvote their post. Good points for the newbies. It's not that easy anymore.

If only it bitcoin mining asic usb bitcoin. Well written article sflaherty - Have you seen the new D5 video. Thank you so much. Show 4 more replies. Thanks for very informative article.

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Farms of GPUs are all the rage now, but dedicated mining hardware has also enjoyed a following among those who are serious about their fictitious money. The state-of-the-art for such devices is moving just as rapidly as cryptocurrency itself is, which means older mining gear can now be picked up fairly cheap on the second-hand market.

He compiled a collection of commands and learned enough to be dangerous which is always the goal here at Hackaday. For example, he found that the could set the frequency of the BM as high as he wished without any consideration for thermal overload. Once he figured out how to give the hardware hashes to work on over the UART interface, he setup a little head-to-head competition between the software he wrote to command the Antminer S1 and the official control software.

No drop in performance was found between his software and the real deal, which sounds like a win in our book. Overclocking also increases electricity consumption, and the N2 would add to the cost. If your prize is fleeting digital tokens that are bound to be worthless in moments, then no. I love how Bitcoin value dropped and everyone suddenly is a critic. Especially considering at least half the arguments used against cryptocurrency also apply to fiat currency.

Yes, all currencies including gold are based on faith and trust, but fiat currency issued by a country with some political, economic and military clout is actually backed up to some extent. The faith placed in national fiat currency is faith in the belief that the country will do whatever it takes right or wrong to keep its economy going, including selling of national assets if needed.

Bitcoin is just a list of numbers on a computer. Bitcoin is only pseudonymous and there are crypt I currencies much more useful for money laundering now. Issued by a government. Government is something which always will establish in a human society, as a power distributing the common resource. Could it do anything effectively, at all? The past crisis has shown us how vulnerable the system is to different parties manipulating it for their own good.

The fact that fiat currencies can be manipulated when the market demands it can be used for good and for bad. The question is whether the parties with this power have interests aligned with yours, and whether they can be considered competent enough to use it wisely.

Crytocurrencies being used by criminals to hide behind is FUD from the early days. I honestly thought we moved past that a long time ago.

Anyone saying Bitcoins are just numbers on a computer is seriously misunderstanding the nature of the fiat banking system and how that creates money from thin air.

That too is a rug that could get pulled out from under us at any time, and it recently nearly happened too. Bitcoin is fundamentally flawed and many have always said the same. If you believe that bitcoin is extremely overvalued, you may or may not be right.

Can you expand on that? It has no backing whatsoever. If the price falls to zero, who cares? If a fiat currency falls to zero, its generally a turd sandwich politically, so people try to avoid this. And bitcoin also needs an electrical output equivalent to a small country to sustain all the calculations which will probably increase year on year as the list of numbers gets longer and longer.

SHA hashes…maybe some sort of security or on the other hand, penetration of security… setup? Only if your password is double sha hashed and follows the bitcoin input structure. Other than that the ASiC is useless. Each new generation obsoletes a previous one by increasing complexity and efficiency. Many ASIC miners are underwater without super cheap or free electricity.

Bitmain tried just this past week to dump a bunch of old S7 miners renamed. They will likely never make more value than they waste electricity even in China. If BTC drops much more even the S9 will be hardly profitable. Only if you only bothered to dip your toes in it, and only think bitcoin exists. Most cryptocurrencies are pretty much exclusively mined on desktop computers, and all but bitcoin is profitable to mine in desktops.

Bitcoin is just the market baseline. Most recent cryptocurrencies focus memory usage else than raw computing power, so we get limited to memory speeds, and memory costs.

Hype, scams, and drugs, are the three main uses for Bitcoin. Old scams are finding new homes with the cyber-rubes of the 21st Century.

Once the bubble pops, who knows? Sell them off, then find some new meme to invent a currency after, why not? ASIC is too fast for desktop memory; the memory would be the bottleneck. Could you manufacture faster memory?

CPU-only systems encourage wide distribution of mining activity, because anybody can do it; ASIC systems encourage concentration of mining among people who have the capital to buy the latest miners which let them make more money faster, and spend it on the next generation of ASICs, etc. I wonder if it would be profitable for someone in an area that gets a lot of sun to hook up some of these to a bank of solar panels and mine bitcoin using solar power. Or would it take too long for the miners even in a really sunny place to mine enough coin to offset the costs of the solar install?

Even if you could get the device for free, you cannot make any profit when electricity is not free. Solar Power is not an option. I have a solar powered mining setup but it mines altcoins, not Bitcoin. I managed to break even on the cost of the setup in about a month when the difficulty is low, but now it would take over 5 months to break even assuming the difficulty does not rise further as it probably will.

Please let me know how I can profitably sell solar power. Keep up the good work. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. By using our website and services, you expressly agree to the placement of our performance, functionality and advertising cookies.

But if you enjoy super volatile worthless hashes of data, be my guess. Every critic was a critic even it was going up. The only advantage is that of being distributed. All of us who actually use GPUs to render are going to be swimming in them! Is desktop magic greater than ASIC magic? So, in other words, once the price of RAM falls… Which it always has.

You could actually contribute to society and sell the solar power. Can this thing be used to process for Folding home or some other medical challenge? Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.