Bitcoin Forum

Has the market for 1TH miners been over-saturated by easy to ship/inexpensive Chinese miners hitting the market (before late coming pre-orders have been fulfilled)?  Is the opportunity for home based mining over?  Have the electricity cost requirements finally made home based mining unprofitable and/or undoable (undoable based on electricity requirements)? Thoughts?

Kinda depends on your electricity costs.

And the ability to cool your house and miners.

I am clocking a $.139450/kWh rate.  This has resulted in a $210 electric bill this month.  I am thinking it might be time to cash in and move on from the mining experience.

At least for BTC mining...........thanks ASICminer,Megabigpower,KNC & others for your continued datacenter growth  ::)  Just plain old GREED  :P

The altcoin mining isn't much better,but the new ASIC's do use ALOT less power than GPU's......................

$210?! What, are you running 5 USB Block Erupters and a Jalapeño? That's a noob's electric bill.  :D

I am running 2+THs.  I had a simple question for the masses.  What is your point? 

$/GH at present diff is insanity for almost everything currently for sale.... not worth it..

If you're mining with 2THs you wouldn't be worried about a $200 electric bill. You should be easily covering your costs after a few days of mining. And if your electric bills are only $200 per month then you must have some really cheap hydro or geothermal power in your region.

My electric bills the past few months have been over $700 while mining with 3THs although some of that was first gen, power hungry gear and I work at home and have other computers running all day. I just added 3THs in past week and am dreading the next electric bill.

It does not make any differences whether the miners were shipped to the USA or China.  If the miners are mining, then the difficulty will go up, thus making mining unprofitable.

For the record, I am running 9 USB Block Erupters and a Jalapeño.

... plus some other stuff  ;)

I don`t get it. You are over $1500 in the green, and still you feel like giving it up. Your standards are quite high imo....

Great point, I think a lot of us that hit at the right time were getting comfortable with massive returns.. being that far in the black is still a solid number, not what it was but then again those times have passed.

haha $700 a noob electric bill... Mine is $2400 per month ;D

What are you running?

Lol, it's all relative, I guess. My bill will likely double this month since I just added 3THs plus increased A/C usage.

To the op, I could not find any $2500 on ebay.

Can you please share a link?

Thanks.

Jesus Christ you are paying a lot for power.

tzortz, here are few:


http://www.ebay.com/itm/ANTMINER-S2-1TH-s-BITCOIN-MINER-by-BITMAIN-99-cents-NO-RSRV-1000GH-s-/201079655085?hash=item2ed1480aad

http://www.ebay.com/itm/LKETC-Dragon-CoinCraft-28nm-ASIC-Bitcoin-BTC-Miner-1TH-/131176574546?pt=CPUs&hash=item1e8abbae52

http://www.ebay.com/itm/1-Terahash-Coincraft-A1-28nm-ASIC-Bitcoin-Miner-IN-HAND-SHIPS-SAME-DAY-USA-/301166296410?pt=US_Virtual_Currency&hash=item461ee8fd5a

I am curious.  I thought the rate I got was reasonable.  What are you paying for electric?

Prices have never been lower for mining equipment right now, I just purchased 1TH of mining equipment for about 1600 USD.  Here's my two cents on things, the value of BTC has been declining, because of that, the mining hardware manufacturers are seeing a slowdown in sales. So I think we are seeing demand based pricing at the moment, it may change again if BTC heats up again.  Still, it would be nice to see difficulty take a nose dive here in the 2nd quarter, but I doubt we will see it. 

Don't delude yourself - every miner is in it for the money.

The auctions in those links have two to three days left to go.  The price can jump from $2000 to $3000 in the last minute. 

True, much sniping still to be done at the last minutes.

I could see these end up in the upper $2000s.

I think you are kidding!

Check the completed listings.

None has gone lower than $3000.

Where the heck you found the $2500. ??

Bitmain is currently selling their S2 machines (1 THs) for $2200 ($2600 - $400 coupon). Only noobs buy on eBay.

absolutely , it's still selling  cheaper on bitmain .

And pros sell their hardware on eBay lol :D

Not really.  Not with those killer fees.  10% plus reserve plus shipping plus you have to pay Paypal invoice in a month bullshit = not worth Ebay.

Pros sell it in the Goods>Computer Hardware sub forum for BTC's baby!   8)

Ouch, how can I forget the fees.
Thanks for the reminder. ;D