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Everything has risk. In fact, I just won 175 dollars gambling on a csgo coinflip website, all inned, and lost. All in 3 hours. Do I feel happy? No. If you're going to gamble, have a plan. If you double, do you withdraw everything and forget anything ever happened, or do you go on? You need a strategy for everything. Mining is a lot riskier than even gambling right now because speculating past the halving is basically impossible. Half the network might fall and die, or maybe there could be a huge hashrate spike because the price of bitcoin went skywards.
If you're not even willing to trade, then like other people have said before, hold. Even that has risk. You have to face it, there is no gain without risk. Nobody has ever won and never lost.
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14Th/s sounds like a nice big number. I threw it into a mining calculator and even with free electricity and the halving reward put in it would take 200+ days. But that is with a fixed a difficulty.
I feel sorry for the folks that will end up buying one of these at the price they're currently at.
I'm hoping, either, higher hashing power machines come out, or they are made and sold cheaper.
Keep in mind it could change with BTC value. Say you put in the 2kish and mine if there keeps being surges in BTC price that will also help for longer mining. Leading up to having btc value has been nice. After having some miners might come offline to due to efficiency, it's all speculation. S9's with amazing efficiency they will be able to run after having no doubt. So again difficulty I think is hard to say after having. There are some circumstances that would make it a good investment, but mining never has been a sure thing. It's hard to predict the amount of hashrate going away because of inefficient miners. Nor any price rise because of the halving. Which makes it quite risky to buy a miner where you got no guarantee of how much it will let you earn you. Suppose the price goes back to 400 after the halving, then you are screwed... Past the halving, price prediction is just guesstimation. It could be stable with half the network hashrate dropping dead, or the prices could rise 300%. Nobody knows, at this point the s9 is about as risky as the S1 in 2013. You either could strike it rich or make nothing like the S3. There are so many crappy factors going into this like the fact that the s9 may not be supported by some pools that it's not worth the risk imo. It's purely up to you, though, because this might be used on altcoins, although the profit margin is pretty slim with other altcoins. Sure, 14TH is huge, but when you have that much competition with other miners around the world with even "free" electricity, 14TH is going to be the equivalent of, say , 5TH today. It also depends on how much time the user get's before having. Say the user get's 25-30 day's before having that is a pretty big advantage over a user after having with addded difficulty to (but again speculation). I agree it's a lot of speculation and not guaranteed (mining never is at this point) on ROI. But this is the one to beat as far as efficiency which is big for those non "free" users. Hard to put "free" users in same equation even as they have huge advantage. But for non "free" I think this will become the miner to own after having for most (again speculation on my part). Time will tell..  think I'll start pulling out of the mining train now, new miners have so much speculation this far in, for most people it's a coinflip to tell whether or not you'll make a profit or not. Bitfury's lost the tug of war, looks like this is going to be the future - where Bitmain makes the chips - for insane amounts of money! |
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As of now, you may want to check out the s9 after halving. The risk is way too high rn imo, so if your electricity rates stay like that, you might want to get one. Prices might rise, but better to know you won't lose it all than to gamble on the price of BTC going up to the point where you'll make money.
Since you already have S7s, the operating cost will ensure you a slim profit over a short time, then nothing. The halving won't bump you too much, but after that, consider a newer miner. Halving will force most , if not all people with even low electricity costs to get a newer generation one just because of difficulty.
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14Th/s sounds like a nice big number. I threw it into a mining calculator and even with free electricity and the halving reward put in it would take 200+ days. But that is with a fixed a difficulty.
I feel sorry for the folks that will end up buying one of these at the price they're currently at.
I'm hoping, either, higher hashing power machines come out, or they are made and sold cheaper.
Keep in mind it could change with BTC value. Say you put in the 2kish and mine if there keeps being surges in BTC price that will also help for longer mining. Leading up to having btc value has been nice. After having some miners might come offline to due to efficiency, it's all speculation. S9's with amazing efficiency they will be able to run after having no doubt. So again difficulty I think is hard to say after having. There are some circumstances that would make it a good investment, but mining never has been a sure thing. It's hard to predict the amount of hashrate going away because of inefficient miners. Nor any price rise because of the halving. Which makes it quite risky to buy a miner where you got no guarantee of how much it will let you earn you. Suppose the price goes back to 400 after the halving, then you are screwed... Past the halving, price prediction is just guesstimation. It could be stable with half the network hashrate dropping dead, or the prices could rise 300%. Nobody knows, at this point the s9 is about as risky as the S1 in 2013. You either could strike it rich or make nothing like the S3. There are so many crappy factors going into this like the fact that the s9 may not be supported by some pools that it's not worth the risk imo. It's purely up to you, though, because this might be used on altcoins, although the profit margin is pretty slim with other altcoins. Sure, 14TH is huge, but when you have that much competition with other miners around the world with even "free" electricity, 14TH is going to be the equivalent of, say , 5TH today. |
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Well back to a very simple question to bitmaintech:
Please confirm if you restricted your miner's pool choices?
That'd be a disaster for all of us bitcoin miners here... I don't think Bitmain is that corrupted yet....I do. If it's true, it doesn't surprise me at all tbh. Antpool is the worst coded, most harmful to the network & with the worst customer support out of all pools. Because of this, miners have left in their droves - this would be their attempt at getting rid of the competition by forcing miners back on to their pool - only bitmain would use this kind of dirty tactic. That is true, but unless Bitfury introduces a chip more efficient than these S9s are, then we'll be seeing a huge bump onto the Antpool. For now I'll be waiting for another miner to come out, maybe a community one. At least we have something that isn't as corrupted as Bitmain. This would've happened eventually to any mining company, because they practically control the network hash rate and if they wanted to, the could brick miners to only solomine for them. Not saying that Bitmain would, but money is a big driver for mining companies. |
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Well back to a very simple question to bitmaintech:
Please confirm if you restricted your miner's pool choices?
That'd be a disaster for all of us bitcoin miners here... I don't think Bitmain is that corrupted yet, but if they start selling pool choices, then we'll be facing real trouble. That's one of the reasons I'm not buying this yet, I need real people to give real results on this miner, and not just randomly buy this. There are probably more things we don't know about this miner as of now... I have 2 on order was going to get a third. Now I will wait as a locked miner is not what I want. Yep. Bitmain probably realized that they had almost no competition and decided to push a new miner with all these limitations just because they could. Who wants a ultra-efficient brick anyway? Not me. Hopefully even if they are this locked when they come out, somebody could make some software for it and "unbrick" it. They'll probably keep this kind of bricking on the miner until competition comes, like Bitfury. Not particularly hyped about that because, well, by the time Bitfury miners come out, this will already be all around the mining community. |
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I'd like to join this campaign, my wallet is: 1J7f8hF3KmM6Rqscknpeq5R5LtGDxhWA77 Aand it's another campaign managed by yahoo? Dang.  |
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Well back to a very simple question to bitmaintech:
Please confirm if you restricted your miner's pool choices?
That'd be a disaster for all of us bitcoin miners here... I don't think Bitmain is that corrupted yet, but if they start selling pool choices, then we'll be facing real trouble. That's one of the reasons I'm not buying this yet, I need real people to give real results on this miner, and not just randomly buy this. There are probably more things we don't know about this miner as of now... |
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Removed. Account has been sold.
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It could be a faulty beaglebone, looks like. Is this miner new? If it's still got warranty on it you should try to contact bitmain, but to me it appears either the io or the beaglebone is malfunctioning in some way. I'm not an expert in software, but it just looks like that. If bitmain doesn't respond to you or this is used, just buy a new antminer beaglebone. Not sure if it's io or the actual board, so just hang in there. Could also be faulty firmware which looks more likely as there is empty flashed space. Search for kano software here, and you should come to the page. Kano's got nearly 0% chance of bricking, so it's not harmful if it doesn't work and imo it has better guis.
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The antminer is 4.73TH/s. My electricity is 0.065$ KW/h. The calculators say that I would need 220-250 days to break even. So my question is - Is it really worth it to invest in Antminer S7?
some really negative answers were given. I say if you can handle the noise they make . if you have a plan for the heat. if you have the power supply in hand go for it. I assume one unit which is 533 I will send you a free coupon for 100 usd if you buy from the builder bitmaintech. so 533- 100 = 433 + 55 to ship to usa 488 is your cost. My guess is you can lose 250 usd at worst with it. No one can tell you the up side. Although I think you could make 300 profit tops. Now add in a price for a psu and I say no since you will be at 650 up front and very unlikely to clear more then 100 at best. I'm happy to see someone bring some positive side to this thread. Many threads it seems have taken a negative light. But there is positives to to mining I can say personally I have loved it as a hobby for many years. It has treated me well overall, and I will continue to mine. Another good thing is PSU's can be used for multiple generations so once you ROI on it... they are great to have. Also a quality PSU today is still a quality PSU in a year (and longer). I know I pulled a few of my old PSU's for dabbling in ether a little. So by buying them once... they have really paid off over and over with being good quality PSU's that I can use in many mining projects or miners. And of course people forget the original purpose of computer power supplies- THEY. ARE. FOR. COMPUTERS! With an eth rig, simply swap the low end cpu for a 4th Gen i7 or the best Amd you can get and sell it. You'll be surprised how much people will be willing to pay for this stuff. Yep, people are too negative about mining these days, and sooner or later the prices for mining will be too high and bitcoin mining will go rip for us, but there is always a chance btc price will jump enough for S7s to make a small profit or at least roi. |
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Lotto is both fun and it can be lucrative. Occasionally somebody hits a lucky block and they earn a whole 25 btc, so that's what I do with my old miners. Selling is also a great option, but I much prefer lottery mining than just giving up and selling. Selling is for the weak, be a man and pay the electric bills! :p One of my friends lives in Alaska and they need a lot of heating each year, so they just power on a few S3+s and because it's pretty cold there for most of the year, he manages to actually make a fair amount of money. He's planning on buying a few S7s after the halving when people will be dumping those into lower prices.
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Can I apply for this campaign?
Name: leowonderful
Post count: 524
Rank: Full member
Bitcoin address: 1J7f8hF3KmM6Rqscknpeq5R5LtGDxhWA77
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Bitcointalk Username: leowonderful Get line profile Link: https://getline.in/u/614Amount of BTC needed: 0.05 Reason: CS:GO trading (new skin prices falling and rising, perfect time to trade there) Repayment date: 1 week from payment Collateral: None I know I'll probably get denied, but hey it's worth a shot |
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The B-Eleven based on it's published specs falls more-or-less in the same efficiency range as the S7 - DEPENDS a lot on which S7 batch though, some are a hair more efficient some are a hair less.
The big difference is that the S7 is based on the BM1385 FULL CUSTOM 28nm optimised design, the B-Eleven uses the LK-1401 which is NOT a full custom design (their LK-1402 next-gen chip IS supposed to be full-custom with specs competative to the announced Bitfury 14nm chip).
At your electric cost, you might want to consider Litecoin mining for the short term - if you can get some used A2/Alcheminer/Titan hardware cheap enough. Innosilicon's announced A4 miner might make that idea kinda iffy though, *IF* they actually get the miners shipping by July as they have said they will (Innosilicon has a pretty good track record that way, though it's not their norm to pre-announce stuff before it's actually ready to ship).
It's probably too late to get into Ethereum, unless you already have most of the hardware on hand or can get used pieces VERY cheap. Diff is rising pretty fast, rewards are dropping, it's profitable for now but making RoI on new gear is looking decidedly iffy.
Even the next-gen Bitcoin miners might be marginal with your electric cost - it's not HIGH, but it's definitely not cheap. We don't have enough information on cost of miners or miner-level efficiency to even make an informed guess at this point.
Bitcoin is increasingly more centered towards data centers and places with cheap electricity and cheap air conditioning, and most people don't realize mining could be dead for the average consumer in only a year or two. Each new generation shows a smaller and smaller increase in power useage, and eventually we'll be getting rigs that have maybe 10-50watts less than the previous generation. Script is viable due to the slow to none release of new asics, so it is definitely viable to mine coins like litecoin. Only problem is, litecoin is on its way down. It does have a large value, but when you see the 2-3 month picture you'll see it's slipping. Watch exchanges, make a good ecision and pick a coin that's stable and profitable, and you'll make a good amount of money. |
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The problem is becoming a well known/used escrow. There are already some good ones out there with a good repuation. So why would a person try a newer one to help someone build up a reputation? There is really no reason.
Yeah, if I'm a customer and I'm looking for an escrow, and because I'm a still kinda new here in forum. Of course I would choose those escrow with good reputation and well-known here in forum. The competition for escrowing service is too though better not to add yourself in the competition. I think it will take a long time to build a trust and reputation as an escrow and it will be time consuming process too better to find other way to earn bitcoins. Think another way of earning bitcoin because the competition for escrowing is very tough. But if you really want to be a trusted escrow, I guess ask the trusted escrow account owners and offer them to buy their accounts Yeah.... No. There are some escrowers that sold their accounts for huge amounts of money, then the buyer takes all the btc currently in escrow and runs. Escrow is a great way to make money if you are already at Hero+, but even then it's hard to even begin escrow without +rep from dt1. As you get more trust it could become lucrative to be an escrower, but for now most people prefer to trade or be in a signature campaign. |
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Id:leowonderful
Ty for coupon.
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Any open spots? Been away from bctalk for a while and I'd like to be in a signature campaign again.
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Pray that Bitfury chips come out soon as they'll be the only redemption for us outdated miners. S7s will be dead after the halving, and so will Avalon miners and all the other crap out there. Trading also works, buy some btc and easy profit. 0 electricity, 100% profit if you know what you are doing. S7s do have room to underclock, so they could last maybe a few weeks after the halving, but sell early- prices will take a dive after the halving due to selling and buying some next gen miner.
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