People who code: we want your input. Take the Survey
18

They are choosing a less risky option. By selling now, they get the price of the machine no matter what happens to the BitCoin economy. They are defining their core competency as being in the hardware business not the cryptocurrency business. The same could be said for people selling pickaxes during the Gold Rush. Why not use the pickaxes to mine gold? ...


6

I agree with RentFree's answer, but another part of the answer is the cost of capital. ButterflyLabs did not have the cash on hand to build its ASIC design or to manufacture all of the rigs. That's why they had their pre-order process: collecting the money up front was the only way they could afford to build the rigs. (Once they had built them, of course, ...


3

No, the Jalapeño is a Bitcoin miner, it solves the SHA-256d hash function. On the other hand, Dogecoin uses the Scrypt hash function. The two are not compatible, and as far as I know there is no Scrypt ASIC being sold, yet.


3

If you can hold your hand on the Bitcoin Miner for an extended period of time without burning it, I doubt the cube is consuming 270 Watts. What does your mining software indicate the temperature is? My two cubes run at temperatures between upper 30s and low 50s Celsius. (These cubes do make nice winter hand warmers for cold typing hands:-) Once you rule ...


3

Right now, it's not profitable to mine Bitcoins on anything that isn't an ASIC. GPUs still pay off if you mine Litecoins, but then the mining scene over there is getting crowded as well - so you may end up just recovering your costs. There are plenty other crypto-coins, some of which are much more profitable to be mined with a graphics card than others. At ...


3

For $2800 (the price of Monarch 500GH/s, as of 23 Dec 2013), and $4680 (the price of Monarch 600GH/s, same date), you might as well purchase a 1TH/s mining hardware, such as from VMC, or CoinTerra. The other alternative is to use these mining hardware to mine some other altcoin, instead of Bitcoin, and hope that the other altcoin would come to prominence ...


3

Look at http://dustcoin.com/mining. The currencies designated as having SHA-256 algorithms (e.g., Bitcoins, PPCoins, Namecoins, and Devcoins) stand a good chance of being mined with BFL-like ASIC mining hardware. Remember, some currencies support merged mining - mine once and get paid in multiple currencies. Either your centralized pool supports merged ...


3

In my opinion trading BTC has a higher potential of profit when compared to mining because of the sheer difficulty. If you do decide to go for an ASIC. I would recommend Coin Terra GoldStrike1 2TH/s ASIC miners.They are expensive at 6,000 USD.But their Break Even time on January Batch is 4 Days.If they deliver through this is the only miner I feel could ...


2

I think this is a subjective question. Just because we are bullish and are expecting growth in users, does this mean we will see a rise in price? Not necessarily from my view as I dont think price always indicates a rise in popularity and usage. Price indicates there are more users buying than selling, however a price decline indicates more users willing ...


2

I Would not be surprised if they collect cash up front for many orders, create a production run which takes 30 days, mine the units for 30 days, and then deliver. That's how I would maximize profit. They take no risk, but having the consumers pay for the costs (and more), they then have many many machines to mine or "perform QA (Quality Analysis) to make ...


2

There are reports online that Butterfly Labs and Avalon were both doing this as some customers have received dusty equipment with mining pool information set, however it is just as likely that the equipment was shipped out with preset pools and customers plugged them in and didn't reconfigure settings. https://bitcointalk.org/index.php?topic=236348.0 is an ...


2

In my experience, every time I've bought a miner, by the time I received it, if I had just spent my money buying BTC, I would have made a bigger profit. That being said, I'm a bit of a nerd so I look at mining as a hobby and if I can get my money back eventually (always have) while having fun nerding-out, I look at that as a win.


2

Unfortunately, this is one of the problems with Bitcoin mining hardware, it cannot be repurposed to do anything else. It's not like a GPU where you can just use it to render graphics in a game. ASICs are Application Specific Integrated Circuits. The "Application Specific" part is the key word here, they are specific to being used for mining only.


2

This is not possible. ASIC mining devices like those sold by Butterfly contain hardware that is capable of computing SHA256 hashes at high speed, but nothing else. They are not general purpose CPUs and cannot be reprogrammed to run other code. They might contain a simple microprocessor or microcontroller to control the ASICs and interface with the host ...


1

Shares are an accounting mechanism to allow for miners in a pool to prove how much work they did towards finding the next valid block hash and fairly divide any rewards. With solo-mining, there are no shares to account for, none to be accepted, since it is only you mining. This means if you successfully find a valid hash you will get all of the reward from ...


1

As stated above, it isn't possible because Dogecoin uses Scrypt. However, you could try GPU mining. Their are FPGA implementations and "rumors" of a company attempting to create a Scrypt ASIC ( although due to its memory usage it would prove somewhat difficult ).


1

Remove the paddings from bottom and open screws under them.


1

If you are using dedicated mining hardware, then CPU is only used for dispatching work to ASIC and sending the result back to pool. Therefore, CPU usage in this case should be very small, certainly not 100%. Own experience: Linux, cgminer, 2*5GH/s ASICs: the miner uses about 1 minute of CPU time per 24 hours walltime, much less then bitcoin client running ...


1

The Butterfly Labs miners definitely work for Bitcoin, I have one, it works as advertised (better in my case) and mines successfully.


1

I had one Jalapeno power supply die on me, perhaps you can source a replacement? 12V seems OK, but make sure it's rated for the amps.


1

I bought a couple of Butterfly labs a 25GH/s and a 7.5GH/s in april. I got them in november, when complexity was too high already. So I sold them. I'm using cexio now. It is more expensive in terms of cost per GH/s but it is more flexible. And you get access to one of the best private mining pool, GHash.io.


1

Gather too much hashing power in your hands, and you compromise the security of the Bitcoin network. If security of the network is compromised, the price of bitcoin falls through the floor, and no matter how much you can mine (or manipulate the network into giving you) you end up with millions of worthless bitcoins. It's much smarter to distribute the ...


1

I believe it's primarily because at such a large leap forward the bitcoin network would fail. I've read for starters that if someone owned over 50% of the hashing power the network would be compromised, I don't know this to be true or otherwise, but what I do know is, Bitcoins have little value if no one is trading them because their value is based on trust. ...


1

I am in London, United Kingdom. I selected the standard shipping option, which came to $38.00 (hardware was $149.00). I made my order back in April 2013, and they shipped in October 2013. ButterflyLabs used USPS (United States Postal Service) shipping option. I could track the order via the USPS site, although it says it got to the UK, and then was held - ...


1

I found this : BFL SC Pre-Order Information So. 6000 units ordered from june 2012 to june 2013. 100 were shipped, in june 2013. 5900 to go.


Only top voted, non community-wiki answers of a minimum length are eligible