Bitcoin Forum

Hi all,

I am new here , i have been planning to get ASIC miner i was going to get Antminer s7, but read threads suggesting, it was not profitable .

besides i am from village area in India and power goes down lots of time and Internet goes down too. but i have access to cheap electricity .

is there live chat feature on this forum, i have lots of questions.

1) do i have to start ASIC after power failuer ? or does it starts automatically and starts mining by itself ?
2) Do i need Air Conditioning system for 1-2 ASIC miners in a room , Temperature here (India) is quite high ?
3) How often difficulty increases ?
4) does the difficulty decreases too ?

So is there ASIC miner which is profitable right now. provided that BTC value stays the same or increases.


Thanks for your time.,

If you have really cheap electricity, try an Avalon miner (probably an Avalon miner 721) as to Bitmain they have a high hashrate for the hardware costs but the electricity usage is not as efficient (so you need really cheap or free electricity for that).

If your consumption is more normal, an Antminer S9 might be better for you, especially if you're lucky enough to get one cheap or second hand.

Altcoin may be a better option for you

depend on what you mean with cheap electricity, and unless you have 1 cent it's still better to choose the s9 if you can afford it, and since you didn't say anything about your budget maybe you can buy one

for just one you don't need an air cooling, it should remain fresh enough in the room it mine, the difficulty usually increase 10% average per month but it can go up to 20% or lower than 10% some times

and yes there were cases where the diff decreased, but it was momentary, due to the value maybe

With your cost of electricity even the S7 is profitable for you as energy in India is very cheap. S9 is a lot better though as it has better hashrate and the energy cost is not a key factor when you live in India I have heard. So an antminer S9 should make you about 0.20-0.30 btc per month after removing energy cost. Try to buy one used second hand and all positive factors will be on your side as the price will be cheaper. I am only worried about high temperatures in India but that can be taken under control with a portable air conditioner to put near the miners.

 All miners you physically buy, tends to get less and less profitable. Back in the day there was mining equipment sellers who sold their miners even tough it was profitable to just mine them because they wanted the quick cash to reinvest.

Those reinvestment are now used by them to mine themselves and they are taking the profit.
However hashnest could be profitable if you buy at the right price, mine for a while and sell for a profit, not a long term deal tough.

Since OP has mentioned the power failure and no one mentioned that.Power failure is a big issue and if you are really looking for profits you need to have uninterrupted power supply and the majority of your investment cost depends on the hardware you are planning to purchase,get a detailed study on what is profitable for you,i would suggest not to try bitcoin mining at this time ,but if you are doing it as a hobby then you are good to go.

If you know how to GPU mine, then there are many good coins to make profit.

Not that hard to do and it gives a lot more profit at this moment than Bitcoin mining for most with a shorter ROI and cheaper initial cost. I'd go for alts right now, it just doesn't make sense to mine BTC for most right now.

antminer s9 looks good, but the price is very high at the moment., and i  from india, so idk how much i would have to pay for customs ..

plus electricity goes down as well as internet connection too.

thanks for your input though.

you mean, mining alcoin and then exchange it with btc or holding on to altcoin ? or mining and selling instantly ?

,thanks

Mining altcoin and then selling it for btc. It doesn't have to be selling it instantly if the altcoin is stable. There are some exchanges that will instantly sell your altcoin for btc when you deposit it.

Thats' correct , guy. if you buy Asic miner to mine bitcoin then it has no profit because of diff and electricity power. you should mine some altcoins with the same algo after that you can exchange it to bitcoin. That's is good choice to do with your miner.

in doing this research in my own, and as for today a profitable and stable altoin to mine with CGU rigs is ETH.
However it is planned that they change the algo for POS, which mean that you will need to find another altoin to mine,
so its a bit tricky it is very possible that when the POS happen it will be not profitable for you to run your CGU with another coin.

My research show that we are a bit late in the game :(
i will be happy if someone proove me wrong, so please do !

The ZCash could be a good coin to mine after ETH.

I would like to give my opinion about this because the main thing I do concern is the power failure which is really very hard when you do mining operations because rigs are really sensitive when it comes to power failures/surges.They would possibly got broke or burned when they didn't able to withstand unstable electricity.Not only on miners but most of all things that do consume electricity.If this would be the case I will put UPS on my miners - Antminer S9 is the latest as of now and yes difficulty do increase as the days goes by which means less profits further on.