The Evolution of USB Bitcoin Miner
Bitcoin is becoming more and more popular nowadays. Its price is about $800 today and it is an attractive asset to invest in. Nevertheless, mining is not such an easy deal as it seems. It’s hard to mine a good amount of coins using a personal computer, Graphic Processing Units, or even ASICs that are actually made and dedicated especially for mining. However, speeds are too high and fast so people cannot afford to mine bitcoins at home like they could a few years ago. One big reason for this is due to electricity. When someone tries to solve blockchains and get some cash, this miner eventually recieves power bills with sums that bring all his work to nothing. And this is obvious. When you use your computer or several GPUs for a whole day, you rack up the amount owed on your electricity bills. You lose more than you can earn. It’s simple and one attempt to resolve this issue is a USB bitcoin miner ― small in size, less power consumption, and more speed.
Pretty much everyone has at least one or two USB flash drives. We use these drives to download and transfer files, videos, music, and other stuff from one computer to another. They are small and handy. This miner is similar. It consists of a connector and several chips. These chips are ASICs. The Application Specific Integrated Circuit that is used in such small bitcoin miners is extremely tiny and can be placed on a small piece of plastic. This tiny device has usually six or more ASICs, which make it very effective, fast and productive for mining. This small device gives you about 11 GHs as a hash rate, which is not bad at all. Well, to make money with it, you should have also a USB hub, a good working cooler, and a computer with special software or an application for bitcoin mining. With all of these things, you can join any pool likeand start the game.
However, the evolution of mining is very fast. First, it was a ‘Block Erupter,’ which looked like a USB flash drive with mining chips. Its capacity was quite good. It combined tiny size with high efficiency. Well, its speeds were just about 300-400 MHs, but that is a comparable amount with Graphic Processing Units, which were used for similar purposes a year ago.
Then there was a good device called ‘RedFury,’ which had 2.6 GHs as a hash rate. One small piece of plastic had more speeds and capacity than a personal computer and its good Graphic Processing Unit was used for modern games. The next year, the mining race had made another step forward. One company announced they got a ‘HexFury,’ which had 11 GHs and could even be upgraded to 15 GHs. Just imagine, it was about 5.7 times more than the previous one. ‘HexFury’ seemed really productive and fast. Today, in 2015, they have been completely outdated.
The Problem of Speeds Race
Good hardware for mining is essential. You may not be successful when using outdated equipment or hardware to solve blockchains.
The problem is that things are becoming outdated too fast and it’s hard to get a return on your investment.
The USB miner is another one step in evolution of mining, which makes this process smaller. In other words, it needs less space in your room, less power consumption, and leads to cheaper bills. However, this is like a gold rush and people who get such an opportunity try to earn more and more. As a result, speeds continue to rise up. People use vacant space and fill it with more USB miners… they get more bitcoins, which increases the difficulty of mining and eventually makes efforts non-profitable again.
Nowadays, such a device for mining may be presented as a small gift for people who are interested in bitcoins. Just like the Central Processing Unit or Graphic Processing Unit a few years ago, the USB bitcoin miner has become a tool that fails to produce coins for a long period of time. They are good for a gift or just for beginners who want to learn more about cryptocurrencies and discover how they work and where they come from. There was just one or two years to get archaic for these small miners. Today, your profit with such a tool is going to be about $1-2 per month. Not very good for a toy that may cost about a hundred dollars.
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