Bitcoin Forum

I have Cointerra, mining stabel with 1.6TH, now i am earning about 1500$/month ???, bcs im new at this, how much will i earn in future? Let's say in 1 month, 6 months, 1 year? I try all calculator, but i get everything different.

I basically look at what i am making right now, and reduce it by 20% every 2 weeks or so. I have found many of the mining calculators to be very conservative. I have earned about %30 more than the calculator on bitcoinwisdom said i should earn.

You get different answers because Bitcoin mining is all about estimation, it is changing all the time.
(Difficulty changes exactly every 2016 blocks, but nobody knows exactly how long does it take to find these blocks)

You should have done more research on Bitcoin before investing it.

The reason all the mining profit calculators provide different values is because your mining profits depend on two variables that are difficult to predict.  

The first is difficulty, which is currently 8,000,872,136.  Depending on how many (and how powerful) miners there are, the difficulty will automatically adjust so the same number of Bitcoins are being distributed per hour.  More mining does not equal more Bitcoins found -- except in the very short-term.  This number adjusts roughly every two weeks -- by design.  As long as more mining hardware is coming online, the number will go up.

The other number that is difficult to predict is the USD to BTC ratio.   This number is currently about $450 per BTC and depends on a bunch of other factors, including how many Bitcoins are being held, how many are 'lost', how many are spent, how many vendors accept Bitcoin, consumer sentiment towards Bitcoin, good/bad news about Bitcoin, government regulation for/against Bitcoin, etc.

Keep in mind that lots of people shut off their computers and stopped mining when the value of a Bitcoin dropped from $30 to $1 because it no longer paid for the electricity.  If you have the financial means, you might consider holding some of your mined Bitcoin for a day when they might be worth more than $450 each.  

Ok, but your advice, should i consider to try to sell my 1.6TH CoinTerra, or just to upgrade with some more hardware and continue earn?

To answer your question, I don't know how much you paid for it but no hardware right now will ROI unless btc goes up in price.  AKA just buy the coins, sell the hardware unless you just like mining as a hobby.

That said, how do you drop thousands of dollars on hardware that you don't understand?  This question should have been answered long before you bought the hardware.

You could make a few simulations with the calculators available and get an idea of what to expect by looking about the different answers; keep it on all the time and sell it at the right time and you may make a profit; you will make quite a few btc that you should hold :)

How much 1.6 TH/s miner about $4-$5k dollars? I would suggest buy sell your hardware and buy about 10 bitcoins for this money. You will likely double in a matter of time but there is always risk there.

so the theory goes...

1Th/s brings in say $1000 a month. In two weeks it will only make..  $800... in one month it will only take $640.... in two months .. $409...

wow...  this whole game has a six month shelf life. But of course if the value of the each coin/part coin mined increases then it will balance out slightly...  i doubt will will see an increase of 20% every two weeks.  But we should see something coming back in

If he buys it at 8BTC and he makes 6BTC and sells it back at 3 BTC he won one BTC, you have to compared a BTC amount to the number of BTC he is spending to buy it

Sell it while it's still considered fast!   :(

The 2 TH/s miners are a comin' and you'll be the little guy getting bitcoin dust.   :'(

Shhhhhh! Don't let out the #1 secret of top miners!

If you expect bitcoin difficulty to continue going up ~15% every ~12 days, it is better to sell it now.
If you expect bitcoin difficulty to level off or increase slowly, it is better to keep mining with it.

You should look closely at how you're actually paying for your electricity - the Cointerra rig is'nt know for it's power efficiency and from what I understand it's close to 1.2 Joules per gigahash, that equates to $5 per day (or $150 per month), assuming you're paying the US average cost of 11cents per kilowatt hour. If you live in the UK you'll pay almost twice that, and the problem with electricity costs is that you have no control over them, (and they will almost certainly never go down), so it's a fixed cost per month to run your miner. As the difficulty goes up, your earnings drop and the cost of electricity becomes a larger portion of your gross income, eventually reaching the stage where you get no profit. At current BTC value this would occur approximately when the difficulty is 10 times what it is now, or the network hash rate hits 500PH. A more efficient rig, say at 0.7 Joules per gigahash would save you $42.50 a month. If the plans that Asicminer has for adding capacity with their new chip come to fruition then it could happen pretty fast, possibly by the end of this year (although it's unlikely)

And of course it depends on what you can sell your rig for, Cointerra dropped their prices recently.

Don't know if this helps or confuses you more, but good luck anyway.

sum 1500$ * (1.246^i / 1.372^i), i=1 to n

n = number of months (use wolframalpha to play with the formula)

Example #1: 12 months from now you will be making 472$/month for a total of 10,164$. Not bad for a 3800$ miner...

Example #2: at 226$ per month in electricity bills, the rig will become obsolete in 17 months (September 2015).

I dnt pay AC :) i sell AC but i dont pay any, so that is not problem. I just ask now do i sell it, or i can have profit with him for about year or 6 month?

sell it.

If you don't pay for electricity that is a big plus but it doesn't mean you won't be better off selling the miner
http://www.ebay.com/sch/i.html?_odkw=&_osacat=16145&_trksid=p2045573.m570.l1313.TR0.TRC0.H0.Xcointer&_nkw=cointerra&_sacat=16145&_from=R40

Check at how much BTC you can sell it for and compare to your expected BTC return if you keep mining; please tell us what you decided

The prices on ebay are just crazy lol.

I can tell you exactly to the penny how much my CoinTerra TerraMiner IV will earn in the next 6 months, 12 months and 24 months. Zero. It died in less than 2 weeks. If you can sell this piece of garbage to someone while it's still running do so as fast as you can.

Did you overclock it?

Just mine and hold what you have mined. Dont sell it. Stupid me sold my Avalon about a year ago as I was scared about diff increase & profitability. Now Im going to mine with my coincarfts until those broken.

https://i.imgur.com/teXZFGT.png

Guys these Chinese guys are making big money...and speculating the price when they want.

They are indeed, around 3800 new BTC are mined everyday in average; most of them are probably hold

The beauty is you can get 100BTC for just 45,000USD and be very well positioned for the next spike up in price; no mining, no additional costs, just 45,000USD

What about the BTC (electricity) to run it.

I completely agree... :)

I recommend the selling of your hardware as fast as you can because in some months you couldn't sell it because it won't make good money instead of the electricity bill!

He doesn't pay for electricity

Never overclocked, never SSHed. I just used their pool screen to enter my pools. I plugged the "Plug Me in First" cord into one dedicated 15-amp outlet and the "Plug Me in Second" into another dedictaed 15-amp outlet within seconds.

Any suggestions on how to get this boat anchor to mine  ???