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Miner I bought in 2013 for 15k and didn’t mine anything

25 thoughts on “Miner I bought in 2013 for 15k and didn’t mine anything”

  1. What.

    To clarify:

    You purchased a Bitcoin miner for Fifteen THOUSAND US dollars, and then gave it to someone you didn’t know?

    6 months later you (or they?) sold the miner for $600, a loss of $14,400 US dollars?

    And now, ten years later, you wonder if you were scammed?

    Oh boy.

  2. Assuming this nonsense story is actually true, I pulled up the price of BTC on July 31, 2013, and found that OP could have purchased over 141 BTC at that time for $15,000. Today, that would be worth $4.9 million.

  3. I can’t tell from the screen if the miner is connected correctly for solo mining but yes choosing solo mining probably would have only yielded anything if all the pols were DDoSd while you maintained an up to date bitcoind node, otherwise most people would mine as part of a pool for daily steady revenue stream

    It looks like a butterfly labs device or something reusing their asic chips and I see 60 Ghash so this would’ve been a first or second Gen ASIC

    Edit: definitely a butterfly labs device and can’t remember those running a local bitcoind node, meaning most likely this was never connected to anything. It ran a local stratum proxy with a localhost web interface to connect to a pool or a raspberry pi

  4. If that kid was sincere about not mining anything, he was just “really smart” to mine standalone, hoping for a full 50 (25 actually) btc block reward. If you were using a pool, could be mining like 2-3 btc a day with this machine in the summer 2013.

  5. I really believe your story but why did you spend 15k on something you didn’t understand, it doesn’t make sense. We’re you wealthy at that time? Just wondering

  6. I’m going to fill in the background on this story based on what I think happened.

    OP’s dad is a rich wall street banker and op, at 18, decided he was going to show dad that he could make more money than him. So he got dad to give him $15k, which he then gave to a friend of a friend of a friend who supposedly knew something about bitcoin.

    A few months later, op forgot about his grudge with his dad and went on a cocaine-fueled bender in Miami for 6 months. Fast forward 10 years, OP wakes up one random morning in a puddle of his own piss after a night of drugs and alcohol and remembers that he gave some guy a $15k miner 10 years ago and never followed up on it.

    Doesn’t know why, but figures maybe reddit will have the answers he seeks and makes a post.

  7. Sucks to be you… And I say this with experience… I learned the hard way as well that it was so much better just to buy coin than mine it.

    My experience was that if you dont get the model right when is released and dont have “free” power (like solar or something) is nearly impossible to recover your investment. Technology and hash difficulty grow so fast that you can’t keep up.



    Guys, we found the scam artist that ran BFL!!!!!

    For real though, my father and I were REAL close to dropping serious money on first gen ASICS. We bought bunch of BTC @ ~60 a piece instead

  9. Does it mine any other coins at all? Perhaps you can mine some very low coin that have easy difficulty and convert the gains to Bitcoin. Check out HiveOS and NiceHash

  10. I’m so confused about all of this, but my first question is why you would have taken a picture with the date written on a sheet of paper to “prove” that you were mining on that date? Were you expecting people ten years later to not believe you?

  11. Hi, I can help you figure this out. How long were you trying to mine with this miner?


    I was big into mining and had lots of these miners at one time. I had about 200K worth of them going in an office building with free electricity for a few months.


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