I don't understand how anyone can justify investing in cloud mining. You get zero residual on the purchase unlike hardware (no matter how small that residual resale value is, it still exists) and the $/GH/s is ridiculous. No matter what anyone says, investing in BTC be it mining or in coin is risky, and not a single person on this forum has accepted that without making their own assumptions. The problem is asserting one's assumptions as facts, and calling another's fallacy. Nobody knows what's going to happen, don't make it sound like gospel.
What I like about mining vs buying coin is the flexibility. Markets naturally self-adjust, so if BTC was to plummet, then a significant amount of miners using less efficient hardware and/or paying more for power will pull the plug, far sooner than those of us who secure electricity/hosting deals or have access to cheap power, driving the difficulty down. Now tell me this, if we are to measure ROI in BTC and BTC alone, what would happen if BTC plummeted to $100 US? I'd wager that the drop in difficulty would result in an S3 paying for itself in a real hurry, even if the exchange to fiat wasn't exactly favourable from an investment point of view. The problem I see is that many people have turned their assumption that BTC will significantly increase in value into fact. Miners can hypothetically make a return on investment if the exchange stays flat for the years to come, buy & holders cannot. Should I start a thread labelled "Buy and hold - Profit is Impossible"? (...aaaand putting on flamesuit)
I find it interesting that the buy & hold types on here try to discourage mining as much as possible, when it is a major driving force behind their investment. Leads me to believe that maybe the ones discouraging mining have a vested interest in mining themselves...
I completely agree that everyone should have balance, just like any other portfolio. Buy some coin, buy some hardware. Buying coin can be made more advantageous by deciding when to buy in, unlike hardware.
Agreed. I have yet to see a cloud mining contract that makes sense as an investment. Think about it. The owners of the asics doing the mining are only writing cloud contracts because they make more than just mining on their own. You might find someone, like jjc326 pointed out, who has a razor thin margin. But you are still taking a big chance for very little potential upside. At least with live mining YOU are in charge of your costs and you get to sell the equipment. You also can decide your own timing for getting out, depending what the market does. But I also understand that not everyone can house a 10 Th/s mining farm in their house/office etc. I had to move mine to a datacenter. Maybe there is some justification for these folks to have a cloud contract if they were going to be buying the btc anyway. Not sure about that though. |
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Over the past days I've had a batch of Antminer S3's mysteriously power off. Power supplies check out fine, they just shut down, no overheating, or circuit issues, just off. In order to wake them up I have to recycle the power supply. It's not isolated to one Antminer or one power supply, but multiple units in different areas, different power, etc. Different pci-e cables, different types of power supplies, doesn't matter.
Ideas?
You might be overloading the PSU. Overclocking would do it, or if your PSU was barely supporting the S3s through its PCI-ex, you might have that issue. When that happens the PSU needs to stay disconnected for a bit and then it will start working when connected back to the wall. It is because of a failsafe within the PSU. If this is happening on multiple PSU's and they are not over taxed, look at your power bar. I have had them go bad or turn off like a circuit breaker if there is too much power flowing through them. This is not a typical problem with S3's so I would look at your power from the panel to the PSU's. See if there is a single point of failure. |
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Did you remove the covers and check the cable connections?
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I'm just looking at this thread and bitmain site. And what i can see, quality went down the drain.i mean, quality in regards of delivery on time, process of any refunds, simple information to community.
Now it seems bitmain asking for btc in advance which is basically preorder.
With s1 there was no issues related to delivery of miners. Now im reading people waiting to get their s3 mining week or more!
I was hesitating to order B1,B2,B3 and it seems i didnt lost a lot. as all batches was delayed and now batch 4 and 5 is simple proeorder with no warranty that will be delivered in time frame given.
I dont know whats the issue is but even labeling boxes as miner means issues for end user.
I am fan of bitmain but at this stage whats the point of ordering when their are not in stock?
Price is nice but again waiting time for B5 will kill any profit if any. We looking at least 14 days to receive any miner. What if customs will delay the process? Whats safe quantity to order? I was thinking to order 10. Any ideas how this will look for customs?
no miner is for sale at a better price and faster delivery. have they slipped from the s-1 yeah just a bit. down the drain no. down the drain would be what knc did from the early jupiter last nov to this years neptune. Based on all that i can see and read. these s-3's are better then the s-2's but not quite as good as the s-1's. By that I mean all aspects of the miner. I order 4 so far I have 2 hashing 2 on the way. when they come I will order 2 more. after those 2 come I will assess my next move. right now the mining game is very tough. Maybe i was to harhs to say down the drain. But i compering s1 to s3 situation. And thought maybe they will do same what they done with s1. I bought abut 20+ s1 with sushi and bitmain and never had any issues. I still think mining is something which will make few BTC before is not profitable anymore but for small people like me is getting more difficult and will not be easier. 10 units will make roughly 3 BTC a month. As for the wait time - keep in mind that when the S1 came out Bitmain was an unknown and demand built up gradually over a period of weeks. But the S3 was highly anticipated and demand has been through the roof right from the start. No matter how many get ordered, there is a point where any company will limit the how many they produce in a batch. As time goes on I think you will see this demand and supply issue smooth out. On another point - you sound very whiny. You probably should get out of mining. |
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Looking for some help with PSU choice for s3, have read a few people talking about running two S3 from one power supply, looking at Corsair 850HX 80 plus silver (£75), Corsair 750HX 80 plus silver and (£66) Evga 750 super nova 80plus bronze (£61). Will these psu run 2 machines ? any user had experience or thoughts on running two S3 or S1 from these power supply's, Overclocked all my Antminer S1 from day one and none of them have ever missed a beat, reading posts on forum don't think i will overclocking the S3 for now. Currently use Corsair cx600m 80 plus bronze for miners which cost me about £55 each have eight S3 from batch 4 if i could save £200 by using only 4psu goes a long way to helping with ROI, any help would be appreciated.
BTW - I am aware of guys running two S1s overclocked with the server power supplies and having no issues. Personally, I have not tried them. I have heard some claim they are loud. But I have been around those using them and found them to be fairly quiet. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=281359603322&ssPageName=STRK:MESE:ITI use 8 of these and if you put DIP SWITCH 1 to the ON position they are quieter then ATX supplies. AND very little heat ! Agreed - these are very quiet. But the Dell's are LOUD! |
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Hey,
Does anyone know if its possible to monitor your ants from another location?
I'm going on holiday soon and I wanna be able to monitor them.
I know about team viewer, and that is one option, but that means leaving my PC on the whole time.
Thanks
The only way to access them that I know of is Team Viewer or Logmein or similar. Yes - it does require leaving your PC on. |
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I am not a trader. But I use Ghash's pool to mine on my own personal equipment.
Buying GHS (cloud mining) is not profitable in and of itself.
But as my btc total builds up from my personal mine, I do buy GHS, just to put the btc to work until I need it.
Yes, the price steadily goes down, but if you get out of it a day or two prior to the difficulty change, then back into it a day or two after, the price is fairly stable. It's been better for me than having my btc just sit in wallet.
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Can anyone tell me the fan sizes on the S3, are they 120's or 140's..??
120mm |
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Delivery of 2 S3's from batch 2 today  I followed Dogie's setup guide here: https://bitcointalk.org/index.php?topic=702653
The 1st S3 miner works perfectly at around 440Ghs. The 2nd S3 initially only started with 1 chain visible with a hash rate of 200Ghs. I tried a few different CX750 power supplies but same result. Now the S3 starts but does not hash at all, a bleep and it restarts  For the time it is running I can still only see chain 1 visible but showing 0.0Ghs Emailed and posted here, hoping Bitmain will resolve the issue. You might want to remove the covers and see if the cables are all seated properly. Also check to make sure your pools are all filled in and "alive." |
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On a related note, I'm moving my entire operation to a DC next month, and have the most tolerant and patient wife in the world.
Did this 6 months ago and glad I did. Details anywhere? Thinking about this myself, since I had an army of S3's in batch 1, and just ordered an army more in batch 4. Good old-fashioned Google web searching, making some phone calls, talking to some people, going out and getting tours of data centers. Ask them, "I need x kWh of power with minimal internet bandwidth requirements. How can you accommodate my needs ?" I looked at a lot of places too. I recommend choosing one where you have 24/7 unescorted access. Usually this is smaller datacenters. Also - know that if you say I want a 30 Amp circuit most will only let you use 80% of that or 24 amps. Makes a big difference in calculating what you need. |
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Our customer service guy will contact you.
Wow ! Thank you very much for the response. I was not expecting that, along with the personal email ( No news on Batch 4, folks). I half-jokingly made that post, not expecting such a response. <3 I have to ask though, do you keep them in your bedroom or what?
Honestly, I have three units on the other side of the wall outside our bedroom (Have most of my house circuits loaded with ~1000kW worth of mining hardware.) I've already modified the S3's by trying to cover up the speaker inside, but alas, they are still slightly audible whenever they do (seemingly) randomly beep. On a related note, I'm moving my entire operation to a DC next month, and have the most tolerant and patient wife in the world. Did this 6 months ago and glad I did. |
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BITMAIN let us know about near future batches, please.
Batch 4 available now. |
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Wow it really looks like Bitmain dropped the ball on these.
ALL the S1's were rock solid and everybody got the same hash rate. Plus everyone could overclock if you so desired.
These S3's have hash rates all over the board. Some work right some dont.
My units are running at 440 GH right out of the box with stock clock.
Guess I was lucky, but luck shouldn't have anything to do with it.
Wonder if they will fix these problems or just keep pumping out defective units ?
Bob
No - S1's hashrate varied as all miners do. |
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Yep (though it usually runs a tad faster than 1ths)
I can't seem to get my s2 any faster than 995GH/s. Last hour it was at 954GH/s. What all can be done? Nothing. That's well within the margin of error. There are some mods you can do. But if you don't know what you are really doing you could screw it up. Even after the mods, the fastest I have heard it run is about 1.1 Th/s. |
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Are they any b1 customer that has not shipped yet? Example no notice through email yet? Today date is 17/7
batch #1 no shipping information on UPS yet. Hopefully tomorrow. DoubleDD Ditto. |
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there's no way they can compete with Bitmain[/u].
you are right. bitmain have not shipped the new generation miner yet. Yes they have. Shipping started yesterday. One reseller got the miner today. They posted a screen shot of it running at 450 Gh/s with essentially no HW errors. Pulling about 340 watts. https://bitcointalk.org/index.php?topic=656461.msg7880753#msg7880753 |
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The first box of S3 we opened today [im]http://www.112bit.com/wp-content/uploads/2014/07/2014-07-16.jpg[/img] [im]http://www.112bit.com/wp-content/uploads/2014/07/2014-07-16-21.jpg[/img] [im]http://www.112bit.com/wp-content/uploads/2014/07/2014-07-16-3.jpg[/img] [im]http://www.112bit.com/wp-content/uploads/2014/07/2014-07-16-4.jpg[/img] [im]http://www.112bit.com/wp-content/uploads/2014/07/2014-07-16-6.jpg[/img] [im]http://www.112bit.com/wp-content/uploads/2014/07/2032891345224940344.jpg[/img] Juan https://112bit.comGood to see the unit in your hand. Can you show the blades, ASIC, Heat Sink, etc? Hope you will soon post an image after removing the cover. Looks like a smaller footprint than the S1. |
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Looks like an empty store room, not a data center. I have little confidence that this is secure from bad actors.
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super tldr, no.
Yes. How much does it cost? |
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to those that applied for a refund on batch one please let us know when you get one.
Also It is late I had a few beers and I am tired . I think I will crash and decide what to do on tue around 9 am. eastern standard time
I'm B1 and will let you know. Nothing so far. Sweet dreams. |
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