Bitcoin mining time Calculator
As those of you reading know, I’m a big fan of Bitcoin and a big fan of the Raspberry Pi. It was only a matter of time until I decided to follow in the footsteps of many and setup a Raspberry Pi Bitcoin miner. In an unrelated Amazon search I noticed that the ASCIMiner Block Erupters had come down in price (they sell for $29.98 on Amazon’s main page but cheaper units can be had from other Amazon vendors) so I decided to order a couple.
Mind you, nobody is going to get rich off of a Block Erupter. My desire was to experiment with them. I’ve often wondered how much a somewhat decent miner could be built for. Combining cheap Block Erupters with cheap Raspberry Pis seemed like an excellent want to build an affordable miner (with the acknowledgement that the setup was unlikely to pay for itself). I followed the setup guide on Adafruit and was mining Bitcoin in minutes. What follows are some issues I ran into.
First, my Raspberry Pi wasn’t able to provide reliable power to both modules. This wasn’t unexpected. While the Pi could run one Erupter without any issue the second one would periodically die from loss of power. The mining application I used, cgminer, continuously notified me of hardware errors. Fortunataly, I have a second Raspberry Pi that runs my Tor relay so I unplugged the second Erupter from the first Pi, plugged it into the second Pi, and got it up and running without any trouble. The obvious solution to this problem is to purchase a powered USB hub.
Second, Block Erupters run hot. I learned this lesson when I went to unplug my second Erupter from my first Pi. If you’ve been running an Erupter make sure you give it time to cool down before touching it (or be impatient, like me, and grab some gloves). You will also want to invest in a small fan to keep your Erupters cool. This USB powered fan has been recommended by several people and costs all of $8.00.
Third, as I feel this needs to be pointed out, setting up a mining rig isn’t the most efficient way to acquire Bitcoin. Sites like Coinbase are better sources. The amount of Bitcoin you can mine with an Erupter isn’t going to pay for the hardware for quite some time (even before calculating in the cost of electricity, fans, powered hubs, etc.). I’m perusing this project for fun and to fulfill my curiosity. When I need to acquire Bitcoin in usable quantities I tend to buy from sellers.
Source: blog.christopherburg.com
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Nov 13, 2013 by Rucka | Posted in Other - Internet
Never mined bitcoins before or been involved with them but I've seen the new bit coin miner coming out has a hash rate of 600 GH/s and costs 4.7K according to bitcoin calculator with 2400 GH/S hash rate you would make a p …ld people not just take out a 20K dollar loan and buy 4 bit coin miners or more and rest of the computer components and mine bitcoins as a source of income? May be noob question but may be a crazy get rich quick plot too?
There simply isn't enough time to go into all the whys... In April, Bitcoin blew up. It was about that time that you had several companies announce new mining hardware like ASICs that were designed for the specific purpos …issed off at them around the webs.
There is also the possibility that you may find cloud hashing interesting. This is where someone else owns the data center, and power, you just lease the mining. Good luck.
Sep 01, 2013 by Julian | Posted in PC
I'm pretty tight on budget.
I have my old pc with 450W PSU
so, Sapphire 7770 GHZ EDITION (180Mhps) will make a profit??
i checked some mining calculators, and all showed me aprox. -20.54 in 1 month (with 0.08 kWh)
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Im new, and need some support!! :)
Bitcoins - 13YQ8Bk7GP586o8UackRwMiVXzQtJiWTkZ
By the time you make back the cost of the video card it'll be completely worthless.
May 05, 2011 by Chris Hansen | Posted in Desktops
So I have a buddy who has been bitcoin mining for a few days. He has made about $150 dollars. He has a $700 gpu. I cant remember the exact model. It is an MSI manufactured ATI card. However, it got me thinking. If I … for free from a friend and electricity is no concern. Total $708. It appears to me that I could pay this off in a few months of bitcoin mining ( I know it gets harder as time goes on). Please tell me where I am wrong.
When you say "it gets harder as time goes on" you likely aren't recognizing how much harder it really could get.
Look up the specs in the mining hardware list below.
So, using stock val …r payoff could happen more rapidly.
So your question boils down to: will the future difficulty factor for mining bitcoin increase significantly faster than the market exchange rate will change? Nobody knows.