[Chugalug] USB ASIC miner experiment

Eric Wolf ebwolf at gmail.com
Mon Sep 16 20:32:57 UTC 2013

My 24 USB ASICMiners have been running for several weeks. When I started,
my ~8GH/s was able to generate a 0.17 BTC draw about every 24 hours. Now
it's > 6 days. And I'm starting to see some of the USB devices fail:


Without a significant inflation of the value of BTC, I'll never be able to
pay for devices but I can pay for electricity for some time.


Eric B. Wolf                           720-334-7734

On Mon, Sep 16, 2013 at 2:01 PM, William Roush
<william.roush at roushtech.net>wrote:

> Ouch, we've already hit that point for the smaller ASICs? That seemed
> awfully fast for what "revolution" the ASICs brought to mining. As for that
> waiting list on ASICs: pretty much means that those 100x GH/s machines
> aren't worth waiting for now, because by the time they're in your lap the
> difficulty has already bumped by those getting the latest shiny ASICs,
> right? The lack of availability sounds like it'll kill out a lot of miners
> being as it's no longer as easy to get into because the required hardware
> is very limited.
> Not a miner myself, but just very interested in the whole Bitcoin
> phenomenon and the influence of these powerful ASICs.
> Oh and in b4 Bitcoin war thread.
> William Roush
> On 9/16/2013 2:16 PM, Phil Sieg wrote:
>> So I have been mining for a week with 9 ASIC miners with a total of 3Gh/s.
>> I have made approximately $10, and my mint speed is decreasing hourly
>> based on increasing difficulty.
>> It is a cool little rig, and would have been fantastic 6 months ago... my
>> advice: stay away from low end mining gear.
>> I am gonna let then sit here and churn, never cashing in my BTC and
>> *maybe* another bubble will come along and propel me to break even.
>> This was a lark, and I am not sore...Lynn Dixon as much as told me it
>> would be near impossible to hit break even, and he was right. Due to
>> increasing difficulty it is likely that 10 years worth of mining this rig
>> would never put me at break even.
>> At this point a miner needs to be investing in HUNDREDS of GH/s, all for
>> under X dollar threshold. The problem is there is no way to outright BUY
>> the equipment you need without waiting... other than paying a premium on
>> ebay that makes your return on investment unlikely.
>> I am not a hater, but this seems to be a case of too little too late. I
>> can, and do buy into the stock and options market daily, often with a
>> profit realized in a day, a week, or a month. My investment is exceedingly
>> liquid, and does not yield obsolete hardware once I "cash out".
>> I can now claim to have mined those elusive bit-coins, and will shortly
>> return to my regularly scheduled programming.
>> Phil Sieg
>> President
>> SeniorTech LLC / snapfōn®
>> www.snapfon.com
>> phil.sieg at seniortechllc.com
>> Phone: 423.535.9968
>> Fax: 423.265.9820
>> Mobile: 423.331.0725
>> "The computer is the most remarkable tool that we've ever come up with.
>> It's the equivalent of a bicycle for our minds."
>> Steve Jobs, 1955-2011
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