Posts tagged "mining"

Bitcoin Mining Rigs 4: The Return of 5870

I’ve ventured back in time for some of these computing horrors, but don’t fret; altcoin mining still provides us with new fire hazards and high power bills!

 

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Posted by killhamster - April 7, 2014 at 11:16 am

Categories: Buttcoin, Featured, Rigs   Tags: , , , , ,

Bitcoin Mining Rigs 3: Mine Hard With a Vengeance

With the rise of ASIC mining, we’ve been deprived lately of hilariously awful mining rigs. Thanks to Litecoin, Dogecoin, other altcoins, and SA Forums poster surebet, we can still revel in PC builders’ schadenfreude today!

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Posted by killhamster - January 31, 2014 at 12:38 pm

Categories: Buttcoin, Rigs   Tags: , , , , , ,

Get Bit or Die Mining

If you’ve been awaiting another obsessive catalog of disastrous and dangerous Bitcoin mining rigs, then you are in for a treat. Today Buttcoin launches the all-new BitcoinMiningRigs dot com, an archive of the most hilarious and ridiculous computers, cable spaghetti, and arrays of fans to grace the world of Bitcoin.

hanging-7398031cf194

We’ll be updating it regularly, as we’ve collected a shameful amount of pictures and videos, and mechanisms are in place to submit your own sad computers as well. If you’d like to follow on Facebook, you can do so here.

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Posted by killhamster - September 27, 2013 at 10:04 am

Categories: Buttcoin   Tags: , , , , ,

No exquisite sin greater than central air

As with the Easy Butt Oven, this simply has to be seen to be believed:

AC1

What could this be? Some sort of HVAC installation? Read on…

Read more…

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Posted by killhamster - July 31, 2013 at 10:35 pm

Categories: Buttcoin   Tags: , , , , ,

Bitcoin mining difficulty jumps up nearly 20% today

In mining news, the difficulty in mining just jumped up(uP UP) 19.5%. I wonder how many miners are going to quietly ignore taking a 20% hit in PURE PROFIT from this.

For context, this means that if some hopeful soul gets his BFL mining rig today, it’ll be churning out bitcoins at less than one-fifteenth the rate they expected when they placed the order a year ago.

Even with the residual higher price of bitcoins following this year’s bubble (currently about nine times higher), they’re still only clearing 60% of the real money that they were hoping for at the end of the day.

And that’s before even factoring in things like the tripled electricity usage. And IF they manage to cash out at all despite all the new regulatory hurdles. And IF they got their hardware today, before anything else in these numbers goes haywire. (And IF it works perfectly.)

Bitcoin! 

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Posted by Buttcoin - July 22, 2013 at 3:48 pm

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The $22,484.00 Butterfly Labs Mini Rig bitcoin miner is a sexy bitcoin mining machine.

Butterfly Labs has a long history as the pioneer of bitcoin mining rig hardware. They’ve successfully shipped two generations of equipment to the bitcoin community.  They started taking pre-orders for their third generation miner in the summer of 2012 with a ship time expected by end of year.  After suffering from a delay in production,  they’ve finally managed to deliver on their bold promises.  Their eager customers are just now starting to get their bitcoin mining machines as I write this.

Lucky BFL forums user Luke-JR scored a sweet Mini Rig from Butterfly Labs This rig was originally designed to run at 1500 GH/s but is being delivered in three smaller units of 500 GH each after customers were given the option to accept the configuration change.

If you would like to buy one of these 500 GH/s machines, it will set you back $22,484 USD.

So what does $22,484 buy you? Take a look!

Mini-Rig

Let’s peek in on the inside of this monster.

bflminirig1

So clearly this is a sexy bitcoin mining machine.  But can it mine bitcoins?   Hell yes!

Keep in ind that many people jumped in on the pre orders a year ago when bitcoins were still hovering around $6.50 per.   This means customers who opted to pay in bitcoin paid 1,562 of them which at today’s value is $156,200.   That’s Aston martin money, so you can imagine how emotions are high for some of these people.  In fact, there’s quite a stir of people on the internet venting at their perceived loss.  But really, does this make sense?

Let’s be fair to Butterfly Labs for a moment.  They offered full refunds to anyone up to the point they went into production.  Customers were required to opt in and stay in the production queue or get a forced refund.  They took an extra six months to get through their development process but that’s not altogether unheard of in the chip design industry.  AMD was 8 months late on their 28nm product release.

But this is different.  It’s a money machine!  If it’s late, people don’t make money, so they have a right to get wound up.  Right?

In any case, with the price of bitcoin having increased, the pay back for the people just receiving their machines is now only 20 days.  That’s right.  Customers paid $30,000, and get three 500 GH/s machines, each of which make about $500 a day right now.  Congratulations.

WHAT?!?   Yes, the first ones to receive these machines will get rich.  But what about everyone else?

How long will it take them to make their money back?  This is the game of bitcoin mining.  Many factors can change.  Bitcoin mining is competitive.  Miners have to weigh expected difficulty vs expected bitcoin price.  So far, it appears each bitcoin mining machine Butterfly Labs has delivered will make it’s customers money back if measured in dollars vs dollars and not bitcoin vs dollars.

Gigavps from the bitcointalk forums has reported in on his mini rig mining performance.  Let’s take a look at a screen shot from his cgminer setup:

bitforce500-2hr

There you have it, the speculation and controversy is over.  The Butterfly Labs Mini Rig is real!

 

 

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Posted by Buttcoin - July 3, 2013 at 11:42 am

Categories: Buttcoin, Editorial   Tags: , , , , ,

Bitcoiners fall for yet another blatantly obvious scam

I would like to introduce to you the “Cryonic FrostBit? Bitcoin Miner,” a device so revolutionary in the world of computing that its innovations could only be put to proper use in a bitcoin miner.

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Posted by killhamster - June 1, 2013 at 5:29 pm

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Use this one weird old tip by a single mom to save money while mining bitcoins.

Just stop!

Twitter user @spyshake  tweeted out this picture today. Admitting you have a problem is the first step to recovery and we’re thrilled you’ve started on this journey.

 

Rehosted:

BLiw9JhCQAA-Vzl

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Posted by Buttcoin - May 30, 2013 at 6:08 pm

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Wired reports the new Butterfly Labs Bitcoin miner has arrived

Wired got to be one of the lucky first to get a Butterfly Labs miner for review.

 

Here’s what they had to say:

Wired has taken possession of a 5-Gigahash per second Bitcoin Miner, built by Butterfly Labs �?? a.k.a. our very own digital money printing press. Or something like that.

We�??ve powered up the miner and can confirm that its little red light turns on, that it burns hot, and that it makes the sound of a toy hair dryer. Whether it will melt or make you rich or not remains to be seen.

Very impressive, but does it work?

So Wired then reports it got the little miner to do something more than flash a light. Once the unit got up and running, it started mining like crazy.  So just how awesome is this bad boy?

 

That's like a dollar an hour!

 

Well, it makes a dollar an hour!

Oh. Not so crazy after all.

 

So, let’s review what the the lucky owners had to do to get them:

  1. Butterfly Labs Announce preorders mid 2012, accept preorder money. Delivery promised by end of year 2012.
  2. BFL experiences development delays and misses their year end target.  The bitcoin mining community is up in arms because they see how much money they would be making if Butterfly Labs had met their target.
  3. Other competing manufacturers are also late (Avalon & AsicMiner).  bASIC in fact went bankrupt and failed in their development efforts.  Emotions ran high and since BFL was the first to announce, and the first to be late, they enjoyed most of the negative attention.
  4. It’s now Q1 2013 and BFL hasn’t delivered.  They are giving customer refunds to anyone who would rather not wait in the queue.
  5. March comes around and Butterfly Labs announces that they are finally about to begin shipments and all their customers must opt in to accept the spec changes and order terms to remain in the production queue.  Otherwise they would be refunded by force.  Almost every single customer opts to stay in.
  6. Butterfly Labs begins to ship hardware!

 

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Posted by Buttcoin - May 3, 2013 at 2:10 pm

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The Greatest Story Never Told

papamoi wants to mine bitcoins, and badly. In March he started asking around for info on some serious butt-mining hardware, looking for ASIC arrays and “super servers” that would feed his need for unbridled wastefulness. BFL wasn’t shipping, Avalon was only sending out orders in batches, and nobody else was producing comparable hardware, and his search had him running in unfulfilling circles until he found Liquid Nitrogen Overclocking.

Our story’s hero pestered the guys at Liquid Nitrogen Overclocking about building a custom mining server, and they responded that they could build him something that provided 1.7 terahashes of bitcoin-mining waste. Of course, he wanted proof, and they gave him the run-around several times, responding with jargon, claims of NDAs, and even appearing to confuse gigahashes with gigahertz. All the while papamoi has been scouring the BitcoinTalk forums for chips, PCB designers, and other high-performance hardware, to no avail.

Our intrepid hero was put off, but then the Liquid Nitrogen Overclocking team said the magic word: “Google.” Apparently Google has been buying “super servers” from Ed Trice in Philadelphia, instead of major, well-known manufacturers such as Dell, HP, or IBM. Lured in by the promise of amazing Google-caliber hardware, papamoi continued, and was surely happy to find that Google was totally cool with the fellows at Liquid Nitrogen selling some pubbie their exclusively designed servers.

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Posted by killhamster - April 29, 2013 at 2:43 pm

Categories: Buttcoin   Tags: , , , , ,

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