Friday, May 10, 2013

Well, I was looking into bitcoin miners. I know that the current standard is ASIC (Application Specific Integrated Circuit) mining, because CPU/GPU/FPGA miners are becoming too slow to compete with more expensive mining rigs. I was looking at Butterfly lab's cheapest model, the 5Gh/s miner, listed at $274 on https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html. That's still a huge speed difference from a MEGAHASH system. Butterfly labs is just starting to ship the unit to media companies and crypto enthusiasts. There's a waiting list. The calculator seems like it would produce around $800 worth of bitcoins per day (assuming the $100 price range holds). Of course, Bitcoin may rise in value over the next few years. There are a few other miners out there that might compare, (https://www.kncminer.com/categories/miners) or the 300Mh/s USB miner, (http://www.btcpedia.com/asicminer-usb-block-erupter/) but the risk of losing value in such an investment is pretty high. Secondly, after the last price crash, it may take a while for Bitcoins to rise again to the same value.

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