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Title: Scaling Up From Nothing Post by: dopeBroker on March 19, 2014, 07:06:14 PM Is it even possible today or is the barrier to entry now around $10K?
It just seems that difficulty rises too fast to make a decent return. 9 months later you're making less than your electricity bill. Has anyone here scaled up from a very small rig? What tips can you give someone that desires to do so? I'd like to plan things out ahead of time, and do my best to continue to build and scale until I'm to the point where I can rent space for the operation. I'd like for my son to be involved along the way, and to sorta show him the ropes at a very young age so it isn't alien to him by the time it's a common part of the global economy. I have disposable income, however I also don't want to be starving myself for something that is going to lose money. I'm well determined, but any advice from the more experienced would be great. FYI: (I bought an Antminer S1 and will begin my first venture into mining tomorrow after my power supply arrives) Title: Re: Scaling Up From Nothing Post by: roslinpl on March 19, 2014, 09:34:40 PM Is it even possible today or is the barrier to entry now around $10K? It just seems that difficulty rises too fast to make a decent return. 9 months later you're making less than your electricity bill. Has anyone here scaled up from a very small rig? What tips can you give someone that desires to do so? I'd like to plan things out ahead of time, and do my best to continue to build and scale until I'm to the point where I can rent space for the operation. I'd like for my son to be involved along the way, and to sorta show him the ropes at a very young age so it isn't alien to him by the time it's a common part of the global economy. I have disposable income, however I also don't want to be starving myself for something that is going to lose money. I'm well determined, but any advice from the more experienced would be great. FYI: (I bought an Antminer S1 and will begin my first venture into mining tomorrow after my power supply arrives) Well Bitcoin mining is quite expensive indeed. But nothing is for free my friend :) And I recom GreedSeed :) this is very cool mining hardware. Title: Re: Scaling Up From Nothing Post by: S4VV4S on March 19, 2014, 11:09:24 PM Is it even possible today or is the barrier to entry now around $10K? It just seems that difficulty rises too fast to make a decent return. 9 months later you're making less than your electricity bill. Has anyone here scaled up from a very small rig? What tips can you give someone that desires to do so? I'd like to plan things out ahead of time, and do my best to continue to build and scale until I'm to the point where I can rent space for the operation. I'd like for my son to be involved along the way, and to sorta show him the ropes at a very young age so it isn't alien to him by the time it's a common part of the global economy. I have disposable income, however I also don't want to be starving myself for something that is going to lose money. I'm well determined, but any advice from the more experienced would be great. FYI: (I bought an Antminer S1 and will begin my first venture into mining tomorrow after my power supply arrives) Well Bitcoin mining is quite expensive indeed. But nothing is for free my friend :) And I recom GreedSeed :) this is very cool mining hardware. Gridseeds are for Scrypt mining. Get a few of them. But I would advice the S2 for BTC mining. Title: Re: Scaling Up From Nothing Post by: s1lverbox on March 19, 2014, 11:13:22 PM Gridseeds are for Scrypt mining. Get a few of them. But I would advice the S2 for BTC mining. S2 still overpriced. to get 2Th you have to pay 11.6btc in s2 rig. You can have 10 x s1(0.988=9.88btc). Psu is 10 x cx500 and of you go. for 10.5BTc you have 2Th which will mine same as 2 x s2 which is still overpriced. If you want more Th than choice is obvious=S1 Title: Re: Scaling Up From Nothing Post by: shaxs on March 20, 2014, 12:09:27 AM Gridseeds are for Scrypt mining. Get a few of them. But I would advice the S2 for BTC mining. S2 still overpriced. to get 2Th you have to pay 11.6btc in s2 rig. You can have 10 x s1(0.988=9.88btc). Psu is 10 x cx500 and of you go. for 10.5BTc you have 2Th which will mine same as 1 x s2 which is still overpriced. If you want more Th than choice is obvious=S1 True but you are forgetting about power usage. 10 ants x 415w = 4150w. 2 S2 x 1000 = 2000w. Right now POWER is my biggest issue. Trying to have enough power to run all of them on different circuits is difficult. Im going to put in 60a at 220v here soon. Title: Re: Scaling Up From Nothing Post by: Bicknellski on March 20, 2014, 04:36:14 AM Collectivism.
Title: Re: Scaling Up From Nothing Post by: s1lverbox on March 20, 2014, 08:54:57 AM Gridseeds are for Scrypt mining. Get a few of them. But I would advice the S2 for BTC mining. S2 still overpriced. to get 2Th you have to pay 11.6btc in s2 rig. You can have 10 x s1(0.988=9.88btc). Psu is 10 x cx500 and of you go. for 10.5BTc you have 2Th which will mine same as 1 x s2 which is still overpriced. If you want more Th than choice is obvious=S1 True but you are forgetting about power usage. 10 ants x 415w = 4150w. 2 S2 x 1000 = 2000w. Right now POWER is my biggest issue. Trying to have enough power to run all of them on different circuits is difficult. Im going to put in 60a at 220v here soon. you right. I don't mind electricity as I had electrician visited my place who run new circuit just for ants. I can feed up to 31 ants now on that. but as I said before s2 is to expensive to achieve good hash rate. just do the math OP. Good luck. Title: Re: Scaling Up From Nothing Post by: wpgdeez on March 20, 2014, 02:57:53 PM S2 will be quieter, cooler and draw less energy so for some it may be a better deal depending on the heat the unit does or does not put out. If it runs relatively cool you will recoup costs on AC savings.
Title: Re: Scaling Up From Nothing Post by: xstr8guy on March 20, 2014, 06:42:11 PM My advice, for what it's worth...
You really can't go wrong with Ants, S1 or S2. You'll have to wait a few weeks for the S2 but you'll be able to run them longer after the difficulty increase makes it unfeasable to run less electrically efficient miners. And most importantly, don't fall in love with your miners. The only way you'll actually be able to make money is by selling your miners while the still hold value on eBay. Title: Re: Scaling Up From Nothing Post by: ZipTheRip on March 21, 2014, 03:17:34 AM i have slowly scaled up as a hobby.. I cant say I ever broke even but I feel im around even.. I started with gpu mining, I was a gamer and had a few lying around, mined with those until asicminer usbs came out. I spent my BTC on those, sold my extra video cards on ebay and bought more with that money. mined more, and saved btc, when btc hit $1000 in dec I sold my btcs and my usbs. I then used that money o start buying ant miner usbs, since I had the hub infra ready to go! im probly sitting on $800 of miners if resold on ebay and maybe $800in btc give or take market. that was starting with around $1000 in video cards, so im maybe up a tiny bit not counting elec or time..... but it is enjoyable!!!!
Title: Re: Scaling Up From Nothing Post by: seriouscoin on March 21, 2014, 05:32:30 AM OP , if you can scale up from nothing then you've effectively create money out of thin air.
I'm sorry to break it to you but thats not how it is. The reason some miners here can "scale up" because they hold on to their mined BTC which is appreciated in value. So my answer to you is, just like any investment, if the value of your investment goes up, you're getting richer. But you cant be richer from nothing. Title: Re: Scaling Up From Nothing Post by: seriouscoin on March 21, 2014, 05:33:41 AM My advice, for what it's worth... You really can't go wrong with Ants, S1 or S2. You'll have to wait a few weeks for the S2 but you'll be able to run them longer after the difficulty increase makes it unfeasable to run less electrically efficient miners. And most importantly, don't fall in love with your miners. The only way you'll actually be able to make money is by selling your miners while the still hold value on eBay. I thought ebay is cracking hard on any btc related product. Also how do you protect yourself from paypal chargeback? Title: Re: Scaling Up From Nothing Post by: nexus99 on March 21, 2014, 05:57:08 AM Gridseeds are for Scrypt mining. Get a few of them. But I would advice the S2 for BTC mining. S2 still overpriced. to get 2Th you have to pay 11.6btc in s2 rig. You can have 10 x s1(0.988=9.88btc). Psu is 10 x cx500 and of you go. for 10.5BTc you have 2Th which will mine same as 1 x s2 which is still overpriced. If you want more Th than choice is obvious=S1 True but you are forgetting about power usage. 10 ants x 415w = 4150w. 2 S2 x 1000 = 2000w. Right now POWER is my biggest issue. Trying to have enough power to run all of them on different circuits is difficult. Im going to put in 60a at 220v here soon. I give this a +1. The serious miner needs to think about how they will power 5 - 10 TH/S on mining equipment in less than a year. My home only has a 150 amp connection. Gotta make that power go as far as possible. 2 GH/s per Watt is the path forward for me. Title: Re: Scaling Up From Nothing Post by: xstr8guy on March 21, 2014, 11:04:44 PM My advice, for what it's worth... You really can't go wrong with Ants, S1 or S2. You'll have to wait a few weeks for the S2 but you'll be able to run them longer after the difficulty increase makes it unfeasable to run less electrically efficient miners. And most importantly, don't fall in love with your miners. The only way you'll actually be able to make money is by selling your miners while the still hold value on eBay. I thought ebay is cracking hard on any btc related product. Also how do you protect yourself from paypal chargeback? 1. They haven't 2. You can't Title: Re: Scaling Up From Nothing Post by: jeppe on March 22, 2014, 11:41:30 PM The best thing you can do is to buy antminer s1!
Title: Re: Scaling Up From Nothing Post by: nexus99 on March 23, 2014, 12:15:21 AM 4 is just shy if .1 per day.
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