Just thought I would share.

**Joshua_Mahr** · 12-17-2012, 02:53 PM

As some of you know and some don't, I am into a hobby and venture called Bitcoin. It has done great things for me (make money & pay for hardware). I just thought I would give y'all a heads up. There is a company called Butterfly Labs that I get hardware from. They are coming out with a new product and I thought if you were interested in the idea you could check it out and maybe make some money too. They have products for all budgets. From 159.00 to 29,000. Please ask me if you need any help or would like to just try it out on the hardware you have. Ask Cody, I got lots of computer stuff due to the hobby(like 11 HD7970's hehe).

**werty316** · 12-17-2012, 05:11 PM

I first heard about Bitcoin back when it first broke out however I never really got into it since I couldn't find any solid information about the amount of overhead(initial cost & power consumption) compared to the return(profit).

One thing that concerns me is that the hashrates mentioned on several sections on their website doesn't equate to the amount mentioned on the products page.

I also wonder what the power consumption is for each product.

**CDsDontBurn** · 12-17-2012, 05:59 PM

Bitcoin, as in Bitcoin miner?

**Joshua_Mahr** · 12-17-2012, 07:14 PM

Yea Bitcoin Mining. Werty I can answer all your questions.. The single(what I ordered 4 of) is 1299. for 60Ghash at max 80W.

Compaired to my current farm of over 20GPU's at 12GHash and 3200W, it's nothing.

**CDsDontBurn** · 12-17-2012, 09:38 PM

So, how does it work? Is it like the Kickstarter program where you invest some money and you get something out of it?

**werty316** · 12-17-2012, 10:20 PM

I know that 60Ghash is crazy but holy crap

60 GH/s at 80W! That's crazy insane.

How many coins does 60Ghash produce? If you don't mind me asking, based on current prices, what sort of value do you get per coin (after exchange fees)? I understand if you do not wish to divulge such info since there are people who don't like to mention their bitcoin return. PM me if you choose to or not and I will understand either way.

I don't know whether this was true or not but I remember reading a while ago on [H]'s forums that some users netted roughly $10k from bitcoining. I can't remember the time frame it took for them to get that many coins with that much value but I believe it was a short period.

**altereDad** · 12-17-2012, 11:11 PM

Looks interesting, but I would be as leery as others in regards. I guess it takes that leap of faith.

**TehYoyo** · 12-18-2012, 01:55 AM

Yeah can you guys give us a for-beginners summary of what exactly Bitcoin-farming is, how to start, etc?

Is it one of those "invest in this internet thing and make lots back!" things?

**altereDad** · 12-18-2012, 05:25 AM

TehYoyo, I believe you can get some basics from the website video.
http://www.weusecoins.com/

**Joshua_Mahr** · 12-18-2012, 12:39 PM

I do not mind telling yall anything. Werty: If you were to plug in the 60GH/s unit right now it would get you about 9BTC a day, or 118USD a day. You have to figure that the network will adjust though for these units coming online.

To give you my story. I started in May of 2011. With a 600.00 investment. Now I have 4 P67 i7-2600k w 2 or 3 HD7970's each. My rig 3770K w 2 HD7970. Plus many other parts. I have cashed out 5600.00 over the last year and a half also.. So total of about 10K made since May2011 with only a 600.00 investment.

Keep the questions coming. I would really like to see others do what I was able to do, or at least close.

**Joshua_Mahr** · 12-18-2012, 12:43 PM

If you go to bitcointalk.org you can find lots of info on how to start.

If you have a AMD GPU. You can start mining now. Let me know what you have and I can help more.

I would not call it a get rich quick thing but. I did ok.

**ET3D** · 12-18-2012, 03:36 PM

Would be interesting to fold on the CPU and mine on the GPU. But I think I'll stick to shutting the PC off for now.

**werty316** · 12-18-2012, 05:30 PM

118USD is not bad at all and if the market price doesn't fluctuate like a bunch of mountains you'll get a nice chunk of spending $. Very interesting...

I just noticed that you said you ordered four of single units

**CDsDontBurn** · 12-18-2012, 06:32 PM

I think I might be interested in this myself. So, what's the initial investment? Building a system that can run the miner at a decent pace?

The thing for me would be my electric bill. Right now I'm averaging $30/mo and if it increases significantly, bitcoin would have to be enough to at least cover the increased electric bill.

Also, how often does it pay out? is it twice a month, once a month, quarterly, bi-annually?

**Joshua_Mahr** · 12-18-2012, 06:47 PM

You get payments from mining whenever you choose. You can invest whatever you want, but I would look at it as a hobby don't do any all for broke investing. Like I sad I ordered quite a few products from BFLabs. But you can get your foot in the door for just 159.00. To spend money on a new GPU at this point would not be wise. You can also get there older product the BFL single. It's 80W at 850MH/s. Then you can also trade those in at 100% toward and ASIC when they are released.

CD's do you have an AMD/ATI Gpu?