15% increase hasn't been accurate for a while has it? I guess I would settle with the goofy lightbulb idea and have my each of my light bulbs mining at 60-70gh/s lol.
Yeah I was actually being a little optomistic at 15% its more like 10% every 2 weeks or 20% a month I believe. |
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I imagine they will make this into single units around the 10.5 - 11.0 TH's range making power requirements around 1200-1300 watts. I did some number crunching for a 1 year time span and this is what I got. Please feel free to give me your numbers as well for comparison:
Assuming:
Electric costs: $0.09 per kWh
Difficulty increase of ~ 15% every month
Halving to occur at beginning of July
10.8 TH/s and 1200W power draw
Repayment period of 8 months or 244 days
Month Diff BTC Mined BTC Value Profit
Jan 113 1.437 $733.11 $316.09 [Repayment period begins]
Feb 130 1.222 $623.15 $206.13 ~
March 149 1.039 $529.67 $112.66 ~
April 172 0.883 $450.22 $33.20 ~
May 198 0.750 $382.69 $(34.33) ~
June 227 0.638 $325.29 $(91.73) ~
July 261 0.255 $130.11 $(286.90) [Halving time]
Aug 288 0.230 $117.10 $(299.92) [Repayment period ends]
Sept 316 0.207 $105.39 $26.50
Oct 348 0.186 $94.85 $15.96
Nov 383 0.167 $85.37 $6.47
Dec 421 0.151 $76.83 $(2.06)
Totals 7.1643 $3,653.80 $2.07
This is assuming the value of BTC averages $510 USD during the entire year mining period.
So to summarize this miner would only be beneficial to me if:
1) Bitcoin exchange was around $510 throughout the year
2) I could get it soon like end of January/early Feb
3) Cost of the unit would need to be $2400 or less
This is an incredibly efficient miner however with my electric rate my best bet would be to just host it somewhere as would most of US residents. Chinese miners should have a field day though.
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Just did a test deposit of 0.05003171 so lets see what I get back.  |
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I know I'm a newbie but within 1 day of actually researching mining/cost of equipment you could realize this guy either
A: has no idea what the hell he's doing or
B: Trying to scam uneducated members (who can't be any more dumb than this guy).
Within 2 months in difficulty change (assuming 10% increase every 2 weeks) this miner will no longer produce profit due to the cost of electricity. If continued through the halving coming up you will be grossly in the negative.
I don't know if he just doesn't pick up on how things work here or what but its comical. The fact that the word escrow is never once used and that he's trying to piece out a single S7 for "contracts if needed" doesn't exactly seem like a good group buy option... Good luck with that.
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Not really. That guy was a thief. I'm just some guy with a contrary nature and enmity toward greed. But none of that has much to do with how to safely run a 1400W miner off a single 120V circuit.
Correct, I consider this thread closed. You guys all helped me with my questions and I have some solid info now so thanks to every one who helped. Good luck to everyone and your mining. Cheers. |
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I don't really run many miners of my own. Can't really afford to buy in, all my resources are tied up in paying the bills and building stuff for everyone else. My hosting exists to be affordable for little guys who aren't getting any breaks like the big farmers do. From the beginning I've not liked big farms strangling out the little guys and I won't be offended to see some go offline.
You're like the Robin Hood of bitcoin. |
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I'd assume the diff would drop briefly as a lot of currently viable gear gets shut down. Some of it may come back online if the diff drops far enough, and if that gear is resold to someone who can run it viably, which will probably cause some interesting oscillations in the weeks or months immediately following the halving. The reduced flow of new coins won't affect the overall supply that much, so scarcity won't cause much of a price increase. If the price increases it'll be because people want it to increase to keep miners viable, or ideally because of increased demand from increased utility of the currency itself.
But yeah, a lot of farms will probably go under. I'm not offended by that.
Sidehack don't you have somewhat of a decent mining operation going? I thought I saw you offering hosting options for guys in the Avalon group buy? Aren't you a little worried for your farm and profits? I'm not familiar at all with the size of your operation but I'm just surprised about your last comment. |
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The comment on the "Block Reward being reduced to 12.5 BTC" (aka the halving) is right on the money. That event is not accounted for in most of the on-line BTC "profit calculators".
One minor quibble. The expected date of the "halving" is more like July than April. Some quick Google research will get you a moderately accurate date.
You guys are both right and can't believe I didn't add that in. Taking that into account it would mean the best course of action would be to sell off after the halving making the total profit for 7-8 months (assuming halving in July) only around $52 per unit. I understand that mining farms have very low electricity costs but even after the halving occurs how can they stand to make money without selling off their mining inventory for whatever they can get? Also this would greatly flood the market with S7s dropping the prices they could get even further. I know there is some development going on with smaller more efficient ASIC chips, but with the difficulty and halving happening the miners would have to be EXTREMELY efficient like double what the S7s were to be profitable again. What am I missing that's not keeping these places from going under in the next few months? |
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Looking at my calculations if I could mine from now till end of December (assuming increase of 10% difficulty and 1%BTC price increase) I could end up with $160 - $180 of profit assuming i sold the miners at 50% of what i payed for them at the end of the year.
Month Diff. BTC Mined BTC Value Profit
Jan 112 0.63313112 $275.41 $2.28 ~~~~~~~~~~~~~~~~
Feb 123 0.569818 $253.57 $(19.56) l
March136 0.512836 $230.78 $(42.36) l
April 149 0.461553 $210.01 $(63.13) l
May 164 0.415397 $191.08 $(82.05) Miner buyback period
June 180 0.373858 $173.84 $(99.29) l
July 198 0.336472 $158.14 $(114.99) l
Aug 218 0.302825 $143.84 $(129.29) l
Sept 240 0.272542 $130.82 $45.81 ~~~~~~~~~~~~~~~~~~~
Oct 264 0.245288 $118.96 $33.96
Nov 290 0.220759 $108.17 $23.16
Dec 320 0.198683 $98.35 $13.34
4.54 $2,092.98
Power ($1020.10)
Sell miner ($600.00)
Yearly Profit per unit $167.88
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Looks like its already been solved by someone. This one was pretty crazy. Cant figure out what the image of the 8 dots represents.
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If it's proper-sized wire (which it better be!), a 20A circuit should have no trouble at all with an S7. Garage door opener probably doesn't pull much power, but it might be worth testing it with your heater plugged in and running. The worst-case instantaneous draw will probably be if the door jams (or someone kicks the laser) and reverses direction suddenly.
When you say trip/reset switches, do you mean GFCI outlets? That doesn't really protect against a current overload, just cuts the power if it detects current on the earth ground (which usually indicates something in your PSU is going very wrong).
I will pull off the breaker box shroud another night and check the wire to see what gauge just to be double sure. And yes I was talking about a GFCI built in. Have to do some more calculations to see if mining an S7 can even cover my costs through the next several months with difficulty. If I can't make anything with an S7 I think I'll need to give up on home mining for the time being. |
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Alright guys finally got home and checked out my box. Looks like a have an entire 20A breaker just for the plugs in the garage. All other major appliances are on different circuits. The only thing that shares power with receptacles in the garage is the garage door opening motor. The plugs also have the trip/reset switches built in which makes me feel a little better.
I plugged in a 1500W floor heater and ran some power tools last night and never had an issue. I know that's not a great way to measure if the circuit is up to the task of running an S7 all day but I'm willing to give it a go.
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Hey guys I'm selling a like new Xbox One Console with Kinect and the brand new Elite controller
Asking price in USD is below but only want payment in BTC:
Xbox One & Kinect: $300 (Retails $399)
Xbox Elite Controller: $135 (Retails $150) This controller has moddable Thumsicks / paddles / trigger pull
Get both together for $425 (Retail + Tax would cost you around $600)
Buyer pays shipping
I've only used the controller 2 times since I've had it and just don't have the time to play anything on the console anymore.
I have Halo 5 that I can throw in for $20.00 if interested and also only played twice.
I'd like to use escrow here on site from a senior member.
Shipping from Tennessee Zip: 38501
Shipping to US/Canada Only
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Damn I was assuming it was just like the game minesweeper (# of bombs touching the square). I was om the right track but stopped because it didn't look like anything recognizable.  |
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Should be fine, yeah. 120V 15A, would give you 1440W of AC input (assuming 80% continuous draw as safety margin). If the circuit is running only that miner, this gives you something like 1300W of DC output, which an S7 would only request what, 1000 to 1200 depending on batch/model and clock setting?
I'd put the 1000W across two blades, and the 750W across the third blade and controller. That'd keep both of them at about half power for good efficiency.
The only thing else that runs in the garage is the garage door opener, gas heat, and the water heater. The water heater is my biggest concern and I will investigate tonight when I get home what kind of power it eats up. If its too much I may be looking at another room in the house as it looks like I'm approaching max wattage. You're answer helps alot though sidehack, thanks. Gas heat shouldn't be an issue. is your water heater gas or electric? and check the outlet that the garage door is plugged into and turn that 15 amp off in your box to see if garage door still works. You might also have a couple 15 amp breakers that are on the same circuit. I have 2-3 15 amp breakers that run on the same circuit to prevent overload. Use that cheap outlet checker that lights up. You can get them at home depot for cheaper as well. Yeah this sounds like the best option. I took a quick look at my breaker box last night and did see a few rooms with double 15A Breakers, I imagine the garage/kitchen would be some of those. I'll pick up the outlet checker at Lowe's tonight on my way home. |
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Should be fine, yeah. 120V 15A, would give you 1440W of AC input (assuming 80% continuous draw as safety margin). If the circuit is running only that miner, this gives you something like 1300W of DC output, which an S7 would only request what, 1000 to 1200 depending on batch/model and clock setting?
I'd put the 1000W across two blades, and the 750W across the third blade and controller. That'd keep both of them at about half power for good efficiency.
The only thing else that runs in the garage is the garage door opener, gas heat, and the water heater. The water heater is my biggest concern and I will investigate tonight when I get home what kind of power it eats up. If its too much I may be looking at another room in the house as it looks like I'm approaching max wattage. You're answer helps alot though sidehack, thanks. |
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If I'm thinking right, these Avalons have separate 12V rails per board so if necessary you can run them off two PSUs, probably want at least 600-650W rated each. But a decent 650W PSU to run on 120V shouldn't be hard to find.
Yes that would be good. Yes efficiency would be better off two different PSUs. If you can get your load on each PSU to around 50% that would be most efficient (maybe not on your wallet). Graph below is for the PSU I plan on using:  If I want to get more efficiency I could add another PSU and hit right at the 50% mark or just run on 1 and still be fine. Thats why I chose the PSU i mentioned earlier. Of course you guys with 240V can just laugh and enjoy you're superior server PSU efficiency. |
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What PSU are you guys planning on running your A6's on? I'm going to use the Corsair RM1000 - Gold http://www.nextwarehouse.com/item/?1473361 since i've seen it works fine on some other members rigs, but just curious what you guys will run. I will use 240 volt server psus Your psu choice is borderline if you go full speed. Unfortunately I dont have access to a 240V supply at this tie so i'm stuck at 120V Honestly I'm expecting to lose around $450-$600 this year per unit with mining difficulty increase and the speculation that BTC price will increase at around 1.1% per month. If it grows more than that I'll be happy, but not holding my breath. If I can mine with a unit for a year and just cover costs I will be happy. You guys with power under $0.07 or being hosted should do ok though. Any one else do some cost/profit estimation for the next year? |
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What PSU are you guys planning on running your A6's on? I'm going to use the Corsair RM1000 - Gold http://www.nextwarehouse.com/item/?1473361 since i've seen it works fine on some other members rigs, but just curious what you guys will run. |
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