another thing to add
why in the hell you need to aim at making 60k or 19k a month, when with a regular job you would only make 1k?
let's be equal here, if you want to get rid of your steady job, you need just an income of 1k per month, it can be reached easily by mining any shitcoin if you have proper electricity
1. You have to pay back your loans for everything you built. 2. As network difficulty changes your profits will drop. 3. You have to constantly upgrade/repair/replace equipment in this industry. You will need a store of cash to do this. 4. Who the hell can live on $1k a month? Thats under minimum wage. Remember not everyone lives at mommys and has no bills. I live in a smaller cheap house and my monthly bills not counting food/gas/car maintenance/etc are over $1000 a month. You sound like someone who has no clue what its like owning a business or even living on your own for that matter if you think $1k is enough to live on. OP said $35k-65k per year. $35k is about $2900 a month before taxes. $65k is about $5400 a month before taxes. Calculate loan repayment rates, commercial rental fees, taxes on your profits......now tell me again how far off I am? |
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BW has a new chip out now as well.
21 Inc doesnt count. You cant mine for profit with them.
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Its been linked before but it gives zero information other than a random hash speed listed. I would take it with a grain of salt until more info comes out.
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I confirm the 0.02 cent. You get credits on your usage if u use alot.
Like I said, power at that price is out there if you know where to look. There are places like Texas with tons and tons of wind energy for cheap too. I wont list all the places I have seen, you can do your own research on that front if you really want to find out. Electric rates are posted publicly from most all providers..... |
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I think this is them just clearing out old stock that would otherwise just sit there losing money for them. People wanted a lower power miner and dont care about ROI, so here it is!
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Despite all the negative nancy home miners that are bitter they cant mine on their expensive power at home saying no, you can make it a viable business. You really need a strong amount of capital to start because in order to make a living wage you must run a large number of machines.
E.G.:
Current estimated monthly profit on antminer S7 @ $0.05 power: (using coinwarz calc)
Total Earned: $170.07
Less power: $46.80
Gross monthly profit per S7: $123.27
You run 500 S7s at the current difficulty and you are making $60k a month....of course when you look at the halving that changes things quite a bit:
Total Earned: $85.04
Less power: $46.80
Gross monthly profit per S7: $38.24
Post Halving (at current difficulty) those 500 machines are still making $19k a month.
Getting power down to $0.03/KwH the same calculations predict a return of $28,400 per month gross post halving. It really depends on your cost to build the facility, your power cost, and how fast you can scale up the number of miners you are running if you want to make this a viable business.
Disclaimer: Do not calculate profit more than 30 days out as difficulty adjusts often and projections tend to be worthless in the long run. These are very rough estimates just to be used as an example.
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If you only run 80 machines, I just cant see companies partnering with such a tiny commercial operation for anything.
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So the big thing from Bitmain today is the crap ass 2.7t s7 with the cheap PSU. What a let down.
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Its not showing any temperatures. I am not familar with the SP35 but maybe its not hashing because its trying to protect itself from overheating?
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I feel like this was just a troll posting to see what kind of stupid shit he could bait people to say....and there has been plenty of it in this thread so far...
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These are all simple questions that can be answered by the google machine in seconds. Try doing a lil research on it, the answers are not hard to find.
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ETH is proof of work today, not proof of stake. But the fact is most coins are distributed from initial IPO sale - terrible distribution and even before going to proof of stake, not much % of coins is going to be distributed from much fairer proof of work - most coins simply ends distributed from initial IPO sale to dump to naive today buyers or dominate proof of stake era.
^^^^ At least someone understands whats actually going on with ETH. P.S. If ETH is so much better than BTC can anyone link me to something ACTUALLY using ETH that matters? Where are these bitcoin killer apps and contracts? |
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The numbers you guys are showing and calculating are based on customers' needs
Price will be 7-10BTC - because profit for BTM from it will be 2-3 times higher
I seriously do not get why people are expecting a brand new design top of the line miner for peanuts. Please how me one piece of hardware from a major asic manufacturer that did not have a premium on its price for the first few months of production. Also lowering its price on new units to 'hurt' bitfury? Uhhh....what? |
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Your delusional if you think GPU and ASIC mining is comparable. ANYONE can buy a gpu and fire up a rig. yeah maybe the big boys could get thier GPUs from the source maybe 50% cheaper than the regular joe but at least everyone has a shot.
The way the ASIC bs works now , is its propriety they ASIC makers basically mine the hell out of watever with the ASICs the develop and either sell the tattered masses chips that have been blasted to hell for months or old tech 55nano crap they want to upgrade out of
so they get to keep out money AND mine at the same time its a total joke.
its not like AMD and Nvidia are biting the hand that feeds them like the Asic companies do so i trust them far more.
Not to say that if all coins were GPU mined it would not be harder to the average joe to find blocks or watever but thats what pools are for. Any sane home miner would rather go back to GPU mining than stay with ASICs becuase the whole ASIC game is doubly rigged
its not just the money they have over you its the hoarding of the Tech they get away with too or outright just ripping fools off lol , hello KNC, Black Arrow the list goes on.
Never heard of AMD or Nvidia taking peoples money and not giving them what they paid for right ? i didn't think so.
So you are saying home miners running 5-6 GPUs can compete with mines running thousands? How is that different from people on the forum with a couple miners here or there versus ASIC farms? Also you conveniently forget to speak on the power aspect. Again large mines with cheap power will stamp out the lil guys at home just like with ASICs. I fail to see how a little guy joining a pool is gonna have a chance against a mining company with thousands on the same pool. As far as the hardware companies go, I never mentioned anything about any of them so I am not sure why you ran off on that tangent when responding to my comments. As far as that goes, there is a VERY old saying....caveat emptor. Do your research before you buy things, if you get suckered in by pre-orders from a small specialty company without a long track record that is 100% your fault. I mean the large video card manufacturers never ever release bad hardware right? Ill just leave this right here..... http://www.pcgamer.com/nvidia-ceo-addresses-gtx-970-controversy/ |
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you should not disable the auto shut off. If one of your fans dies for whatever reason you will fry your system that way. The S7 will run until it literally catches fire.
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http://www.kncminer.com/support/titan-setup-and-firmware"The performance of the batch 1 Titan miners is 300+ MH/s while consuming approx. 1100 Watts. Batch 2 Titan miners run at 400+ MH/s whilst consuming approximately 1400 Watts." the 'A4 Dominator' is made by a company called Innosilicon. It will not be cheap.
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It continues to amaze me how all you have to do is tell people you will make them money and they just hand it over to you. All these sites are scams. Sure they might pay out for a while to build up interest but eventually they will just cut and run.
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You do not need much horsepower as far as the computer itself is concerned. One of those cheapo AMD APUs would work just fine, just make sure your motherboard has multiple PCIE slots if you want to run multiple cards. Looking on pricewatch you can buy a motherboard, RAM and processor combo for about $90 that will allow you to run two video cards. All you would need on top of that is power supply, case, HDD, and video cards.
Cheapo build I priced out in 5 minutes:
processor and board (dual core AMD APU + 2 PCI-E slots on mobo) = $80
2gb RAM = $12
8gb USB stick for linux install = $5
cheapo case = $25 (or just screw it down to a piece of plywood and cool it with a small fan)
Dont go cheap on your PSU if you want to run two video cards. You want to buy something efficient with an 80+ gold rating.
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Yes a powered external hub is the way to go.
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Here are some reasons that might make you want to reconsider trying to make it your main source of income.
1. Your power cost is way too high to make it a viable in the long term as a business where you currently live. You have to buy large amounts of power in most cases to get it cheap enough to make sense for what you are doing.
2. ETH is much more profitable than any other GPU mined coin at present. This presents a problem in that the difficulty is skyrocketing because everyone is flocking to the coin. This means every difficulty change will reduce your profits.
3. ETH is not a coin to invest in mining long term, the devs have already announced it will go Proof of Stake which basically takes gpu mining out of the equation. There are other profitable GPU coins but none that can rival ETH so you will have to balance on a razor thin profit margin.
4. If you did want to turn it into a business there are a ton of other costs to factor in. When you buy power in bulk it comes in on these high power lines and have you have to buy big expensive transformers to step
it down to a usable range. You will need a large warehouse sized location. You will need massive amounts of cooling. You will have to pay for an expensive reliable internet service. GPU mining rigs tend to be very picky and you cant have any internet hiccups or you will have way too much downtime.
5. With profit margins being so thin you will need a very large farm to cover bills and pay yourself a decent wage.
6. Since you did not already have the equipment when ETH went to the moon you have already missed out on the most profitable stage of its life cycle.
7. Since you are only interested in a small salary to live on I am going to guess you do not have a lot of money to start this venture. Id say you would want at least $1 million to start a company that mines full time.
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