Bitcoin Forum

Was told I would not break even.. I have broken even and still mining, all four operational.

Soooooooooooooooooo... ya... about that mining is pointless..

I often suspect the genesis block calculator many quote to say you will not roi. Is no more accurate than the calculators that say you will make a huge amount of money. The truth as usual is somewhere in the middle. I do use all calculators available to me to try to make the best decision available. And its good to have the voice of reason to slow down the dollar signs floating in the air most calculators give.

Steve

What was the price you were buying them for ? Also are you paying for electricity ? How much BTC have you mined ?

Also depends on where you live.  Some people here would still like to stick Yifu's head on a stick for claiming the chips are stuck in customs  :o

If you buy an S1 and you live in some place in Europe and it gets held up in customs for a week then you're looking at 10 prime days of mining time less than somebody who lives 300 miles away from Bitmain in China.

The majority of the income comes in the first 3 difficulties, and if you miss 5-10 days due to transit time you're screwed.  Look at everybody talking about the S3 1 week delay.

Similar deal here spazz.  I'm earning a consistent tenth a day and have not seen the drop off that lots of folks predicted.  That said I do think we are all in for a slap in the hash this week. I hope bitmaintech comes through with the S3's or my mining days could be numbered (pun).

ig

Best of luck.

Same boat essentially.  We knew that btc was fucked then (or at least I had no faith), so mining was a good option as opposed to buying/holding.
The question now is btc going to out scale our mining if we buy new ants?
I'm buying anyways cause mining is an addiction.  Something about having noisy machines running all the time that calms me down lol.   

Well I congratulate you guys on taking the risk when I was saying it won't ROI.  I got burned by BFL who kept parroting 2 more weeks for a 51 period.  I think your profitability came from KNC delays, hashfast and Cointerra's failure.

Well, congrat. Did you take into consideration electricity bills?

No as I have also not added the fact I could sell each for $350-400.

I am in the same boat lol!!  Gonna use the BTC I mined to by some S3's.  Or well some of the BTC I mined.

I wasn't there, so I don't know, but I am betting whoever told you that you wouldn't ROI probably didn't think you would pretend your electricity costs don't exist or pretend you could sell the device for twice what it is worth (even ebay has them for $200.00 now).  TBH, the fact that you have to fudge the numbers to break even probably proves their point....Just sayin.

.1 * 24 * 90 = $216, Cost for hydro over 3 months

4 * 200 = $800.

Something about something with fudging numbers about something?

Now onto fudging numbers  you're not to bad. Goes one Ebay, finds the lowest price with a week before the end of bid acts like that's what it will sell for.  Now Kijij when I see an item up, call them and they tell me it's sold I can assume it's selling at that price for around a week or two.

I made money on all 16 of my s-1's  Still have 3 mining as i type.

the three mining now will make btc roi fiat roi. in house .   with out selling them and they always ran under volted and under clocked. 

the other 13 needed to sell on ebay to make money.   All told 16 s-1s  cost me as high as 800 usd and as low as 172 usd.  grand total of about  6400.

my cash profit was about 1600  so 6400 turned into 8000.  this could not have been done without ebay. frankly I am a bit tired of it all.

  not looking forward to mining right now.   the delay of the rk-box and the s-3 really set me back a lot on a psychological level.

  I have  switched  to a lot of gridseed blades for now.

http://www.ebay.com/itm/BITMAIN-S1-180GH-IN-HAND-AntMiner-USA-Seller-/271528849125?pt=US_Virtual_Currency&hash=item3f38616ee5

That took 4 seconds.  189, of which the seller will get about 160.
And of course, 90 days and 24Kw/h per day I assume you  had them underclocked quite a bit.  So maybe 150Gh/s each.  Going back 90 days to March 29th by my calculations yields earnings of 3.3BTC but the devices cost 4BTC for 4. 

Anyways, Im not trying to argue with you, I have no horse in this race.  I just think it is disingenuous to ignore electricity costs in your calculations (unless of course you have free electricity). 

So congrats on ROIing :)