Post
Topic
Board Mining speculation
Re: What is the point of Gridseed miners?
by
XScrypt
on 12/04/2014, 15:16:32 UTC
A quick calculation:

10 Gridseed Kit, 3 MHs = $200 x 10 = $2000

3 MHs at auto switching pool get you, let's see, 0.0045 BTC per MHs, so 0.0135 BTC a day, so you are making $5.805 (at $420/BTC) a day. It will take the buyer about 344 days to break even.

I feel so sorry for those who got snookered.

You're getting ripped off if you're buying 10 gridseeds for $2000. You can order 10 gridseeds for around $1300 from ZoomHash. And if you actually do your own mining as opposed to relying on a multipool you can make a bit more per day. If you just stick with multipools you have around a 7 month payback. Manually you could probably get that down into the 5-6 month range.

Regardless, people buying this equipment know that the breakeven point has always been months and not days.