Bitcoin Forum
July 09, 2024, 07:28:09 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Mining / Re: Now is definitely an excellent time for personal mining on: September 02, 2021, 04:50:31 PM
The cost of buying cryptocurrency directly is too high, and the investment in mining is still much less than that of buying cryptocurrency directly. We have to control costs and risks

This is incorrect. Example: a S19 Bitcoin miner costs currently $10,000 and performs with 100THash/sec and pulls about 3200 Watt (a bit more than advertised)
Let's say you would invest the $10K today in BTC , that would give you 0.2 BTC which would appreciate in price over time

After deducting the electricity your miner would produce only 0.00052684 per day

let's assume the difficulty would stay the same (which is not realistic) you would need to mine for 379 days until you break even and make your 0.2 BTC back.
In the meantime you have to deal with cooling, noise levels and maintenance

And this is the best case scenario with one of the best performing BTC miners. If you have a lower performing model, it will take exponentially longer to make your money back - if ever.
Plus realistically: with increasing price and upcoming better performing chips the network hash rate will go up and your rewards will be reduced over time.

So no, if it was for the pure investment purpose you are better off buying the currency directly.

Miners want to support the network, helping to keep a stable decentralization and in return they are getting some rewards. Although it is a business, it is a different philosophy than direct investments.
2  Alternate cryptocurrencies / Mining (Altcoins) / Re: How do miners get transaction fees on: September 02, 2021, 03:53:06 PM
None of this answer my simple question:
The fee is paid implicitly as the difference bet input &output?
- or through a UTXO containing it?
-Or both options possible?
First of all: the way you phrased our question was everything but simple.
Secondly: the answer you received from Husires was a perfect explanation.
Take your time to read it through again, and you'll understand
3  Bitcoin / Mining support / Re: Pool Change on: September 02, 2021, 03:37:19 PM
I had the exact same problem, buying a miner from Innosilicon. In my case it was the T3+. I tried everything, inclusing firmware update, flashing the firmware via TF card, you name it.
The solution was easy, provided by the customer support of Innosilicon, after constantly bugging them for over 5 days: they emailed me an UNLOCK firmware.
The download link is in the description of the video: https://youtu.be/vaj_gymDUHQ
4  Bitcoin / Mining / Re: Innosilcon is trying to get rid of heavily used miners on: August 30, 2021, 02:02:42 PM
I think other ppl here ordered the refurb T3s. Would be great to have their feedbacks!

Yes, please. Who else bought a refurb T3+ ? What was your experience?
5  Bitcoin / Mining / Innosilcon is trying to get rid of heavily used miners on: August 29, 2021, 12:41:40 PM
Innosilicon is offering "manufacturer refurbished" T3+ and other miners.
I ordered a T3+ 57T Bitcoin miner.
I had to wait for 4 weeks after I paid in full in Bitcoin until they shipped it out.
When it arrived it was in horrible condition: https://youtu.be/Wml5bBvFy4g

Full of dust, with scratches, stains, missing screws, rattling parts, rust...
The firmware was locked and I was not able to enter my own pool settings.

There was plenty of evidence that this miner was not manufacturer refurbished, not even cleaned. Otherwise at least the firmware would have been reset.

Innosilicon has 3 departments: while the support is trying to help to unlock the miner, the sales and order team tells me:
"This is what you get when you order from us. Deal with it!"
6  Bitcoin / Mining / Re: Help with revenue calculations on: August 29, 2021, 12:30:03 PM
Here is a list with all ASIC miners, you can select them by algorithm, and it will show you the profitability https://www.asicminervalue.com/
They calculate a bit too optimistic.
What I would do is to select certain miners, enter their hashrate and power consumption along with your $0.13 /kWh into this website https://whattomine.com/asic (under ASIC SHA-256)
and this will give you accurate results on how profitable each miner truly is.
7  Alternate cryptocurrencies / Mining (Altcoins) / Re: Innosilicon Firmware Update Steps - Specifically A5 and A4+ on: August 19, 2021, 12:16:59 AM
Hi Chad, I received an Innosilicon T3+ miner with hacked firmware.
Could you please walk me through on how to create such an TF card?
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!