Gathering ASICs

Hey All,
I’m just letting you know that there are a bunch of Gridseed 5 chip units that I’m in the midst of purchasing from someone a few hours from my house. He’s got about 4 dozen units, PSUs, etc. I’d like to purchase them, set them up to run on something like, hash away, and force buy pressure on reddcoin as well as set up some sort of trust, or fund, or something of the sort to help promote Reddcoin. Electricity for these things is pretty minimal, so I wouldn’t mind hosting them. I also am trying to find a way to create a “shopping cart” style plugin, or script, that would be easily integrated into a website, thus making buying stuff with RDD as easy as clicking a button. Something like coinbase or bitpay is nice, but it requires a third party. I want this to be an easy to use thing.

I’m trying to see if the person will accept Bitcoin, Reddcoin, cash, or a mix of these. Hopefully, this will help the security of the network for us (any any altcoins I happen to be mining on multipool) and create a positive movement forward.

Okay, so, 2 hours away from my place. He’ll accept BTC and cash. I’m going to try to scrounge up some money together and pull this off…50 of these little things will pull roughly 17.5 MH/s of scrypt mining that will be used to buy Reddcoin like it’s going out of style.


Nice keep us posted how it goes. Love the initiative.

Unless less he’s giving them away i’d suggest using the money to create buying pressure yourself by buying at a good time.

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Those will be a big time waste of your time and money no offense to the plan but I did the calculations and you would be getting robbed just running them lol.

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I would have loved to have several asics

Spend your money to secure Reddcoin’s network not another. Buy RDD from Cryptsy, take those coins off the exchange and get them staking and you’ll accually be making money rather than losing.

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FaithInReddcoin that all depends how much he is paying
17.5mhs on today would have got 0.003631075 btc which is 1.3btc a year (if mining rate stayed the same)

But Would cost some where in the realm of $3.50 a day to run to put 90 cents of buying power on the network per day…

FaithInReddcoin Yeah, he’s not giving them away, persay, but for $8/each…electric is 15 cents/KWH. I’ll be running scrypt only. 7 watts each x 50 + 5 watts for R.Pi. 355 Watts/hour x 24 hours = 8.52 KWh @ 0.15 / KWH * 30 days = 35.78 / month. You might be right…

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I like your tenacity tho : D

you could always hook them up at work :stuck_out_tongue_winking_eye:

BrownSlaughter That’s roughly the same cost as the electricity it takes to run them, except I won’t be selling to pay for electric.

BrownSlaughter I did have a few hooked up here for a while…and the internet is fiber optic, versus DSL at home…Might have to find a spot to lay a few out :open_mouth:

This reminds me of this old refrigerator my landlord had. It was a “partially” working fridge the freezer worked but the fridge would not get cold. They spent like 400$ repairing it for it to never be fixed and then coulden’t get someone to take it for FREE on craiglist lol.

I can’t believe how much it sucks to have to dispose of asics lol. Was so happy to dump my antminer s1 which btw did suprisingly hit ROI!!

I agree with FaithInReddcoin I had to shut my mining rig down many months ago. I live in southern California were electricity is 32 cents per. I did mine my first 2 million RDD with it though and had it up and running trying to get lucky and find that very last block before we switched to posv. By the way anyone interested in (4) r7 280’s? they were used for like 4 months on script and another 1.5 on x11. I’ll accept RDD if anyone is interested.

bmp02050 I like your idea but there is a better way. I found a way to mine that is FAR superior to the traditional mining I was doing and actually very profitable. Have you ever heard of perk farming? I’m able to generate at least $25 USD a week using 5 nonactivated cellphones. It’s paid out in BTC via coinbase. I got each phone for $20 and I don’t even notice the electricity it takes to charge the phones. Even with my lovely 32 cents/kwh. Not only is this far more profitable, it’s consistent. Let me know if you want more info. I’d be happy to help. I should mention that the amount you can earn totally depends on the country you live in. I live in the USA. I believe the payouts are lower in other countries.

Ryan said:

perk farming

I am interested, please link me some sites/info please :slight_smile:

Here’s what I found on perk farming: