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You should leave the conversion % increase at 0 because if the mining equipment isn't going to ROI in BTC terms then what is the point of going through the trouble of mining when you could have just bought BTC.
That is what I'm trying to figure out... if you can get ROI. If you're using a calculator that calculates your return over several months, I would assume you need to include the change in BTC currency value over that period. For instance, if I spend $6k, then spend 6 months mining, those coins earned in 6 months aren't still worth the $213 (or whatever current value is today)... if they're worth more, that could help your ROI. I'll give this a shot: Imagine that the miner you bought is a *dollar printing machine*, which you buy with *dollars*. When trying to figure out if it makes sense to buy this gizmo, do you need to know how *the dollar* price will change relative to the yen? Hopefully, you've answered "No. All i need to do is know how many dollars this gizmo will print in its lifetime, and how much i have to pay for it. If I pay less than it makes, I win. If not, then no deal." Now substitute BTC for dollar. Potip: If you think bitcoin's going up in price, buy bitcoin with the money you would have spent on the mining gear FTW. I'm with ya, thanks for the analogy! Alright I'm going to go buy BTC and hide them under my mattress. |
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You should leave the conversion % increase at 0 because if the mining equipment isn't going to ROI in BTC terms then what is the point of going through the trouble of mining when you could have just bought BTC.
That is what I'm trying to figure out... if you can get ROI. If you're using a calculator that calculates your return over several months, I would assume you need to include the change in BTC currency value over that period. For instance, if I spend $6k, then spend 6 months mining, those coins earned in 6 months aren't still worth the $213 (or whatever current value is today)... if they're worth more, that could help your ROI. |
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Sierra is a nice piece of hardware from current point of view.
However I'd say it depends on the point in time of final delivery, what KnC offers begin of next year and how cointerra does..
Jupiter customers from day1/2 have until today ~50% of their investment back in pockets (from fiat view point, only).
So it might work out if you are one of the early birds taking a high risk, but for later ones the margin gets smaller and smaller.
Keep in mind a 'money printing' machine attracts greedy ones from all sides, stupid ones as well - I saw on ebay mid of September 7 bids for old avalon 160GH/s, $11.9xx
It seems impossible to count on fast delivery of any ASIC products lately from the response on the forums. Very true (about the greedy folks). Also on a side note, has anyone used the calculator on http://mining.thegenesisblock.com/ ? It has a spot to input "conversion increase %" - I assume thats the price BTC goes up in value each month. Hard to estimate this, but I've read folks think $300 by Jan 2014 - so 50% rice might be a good guess no? Thanks for the responses guys. |
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Hi folks,
I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter. But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff). Am I missing something here, or how is anyone making money off this hobby now? Why is anyone buying these if even the latest/greatest units aren't paying?
Thanks
-Sharky
The Jupiter is sold by KnCminer not Hashfast. It is $5000 for November delivery. It will not ROI in its lifetime. If you buy a mining device you have to do your homework, pick the right company and make sure you order on day 1 to secure "first day shipping." Then cross your fingers and hope they deliver on time. Sorry, I meant the Sierra (3rd batch) for $6k, but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI. So if this is true even you experienced miners are constantly buying new hardware all the time.. your fancy new units at best will be obsolete after a few months? Sorry, I'm just trying to get my mind around this. Even if profit isn't your only concern, this seems like a pretty crazy arms race. |
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btc_uzr - Thank you for the post...I totally agree with you, and I'm not getting into this to get rich. I'm a techy and this is very interesting stuff, seems like a fun hobby.
With that said... I want to know as much as I can, and there is so much conflicting information out there its hard to know whats what.
I also don't want to buy hardware only to find out it won't mine much or get any ROI. That's why I'm here talking to you smart/experienced folks.
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Hi newbie here,
I realize the mining pools are the way to go when you have lower grade hardware, but I'm wondering if solo mining is more profitable if you have the newer hardware (like a ASIC rig that handles 600 Ghz/s or the 1.2 TH/s ?)
Is there any reason solo mining might still be the way to go?
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Hi folks,
I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter. But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff). Am I missing something here, or how is anyone making money off this hobby now? Why is anyone buying these if even the latest/greatest units aren't paying?
Thanks
-Sharky
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Has anyone really used this site and received some bitcoins?
I'm a newbie, but I don't understand how that would work and it seems a little sketchy.
It would be great to be able to earn a few coins to try out and get a start on understanding how things work.
Thanks
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