minering - how is it STILL possible?

[sandy47bt]

I would like to know how can a miner still earn money with BTC = 230 USD while the biggest "miner" Cex.io closed the business.

Cex.io said that they cannot cover the cost anymore.

Whose are still mining? Who is the biggest miner now?

Where did you read the news?
Can you post the link Plz!

I'm really interested.

I Have a zen cloud contract.
I hope it not will be the next!

here is the link : http://blog.cex.io/news/cex-io-temporarily-suspends-cloud-mining-services/

i recommend you to cashout the funds from any existing cloud mining program.

cex.io goes down, but that dont mean its the end of the miners.

Busines like Bitmain, or spondoolies tech, now have great discounts in the hardware.

http://www.spondoolies-tech.com/
https://bitmaintech.com/

http://www.spondoolies-tech.com/products/holiday-special-sp20-mini-farm-batch-2  

you can earn up to 2 USD per DAY

Hardware cost = 5500 USD
Electricity = aprox 10 cents per hour

Let me check
5500 divided by 2 = 2750 days

It's too risky to mine with this
ROI will be longer if I calculate difficult, maintenance fee & block reward in future

[mayax]

let's not forget that the difficulty will increase and they will need a new hardware in 7-8 months.

even the BTC price will be double, it's not worth it... I have the same question. Who is still mining?

[jarvanIV]

id look into other sites like hashnest that produces asics as well, aka bitmain.

[BlackLines]

let's not forget that the difficulty will increase and they will need a new hardware in 7-8 months.

even the BTC price will be double, it's not worth it... I have the same question. Who is still mining?

im just starting into mining world
after read all post, make me doubt to continue upgrade my miner

[Paul Revere]

let's not forget that the difficulty will increase and they will need a new hardware in 7-8 months.

even the BTC price will be double, it's not worth it... I have the same question. Who is still mining?

im just starting into mining world
after read all post, make me doubt to continue upgrade my miner

Mining is a risky business. That being said, don't listen to Mayax, he spends all day, every day, spouting this same shit non stop. Check his posts.  He gets some sort of charge out of being an asshole and pretending he is somehow smarter and better than everyone else here.

[ScryptAsic]

What everyone (except one person) fails to realize in this thread is that different miners will consume different amounts of electricity per TH/s then can do. As a general rule, newer models (based on when they were initially released) tend to be more efficient then older models. Since a cloud mining company would need to be constantly buying newer hardware their average age (and efficiency) of their farm is going to be worse then what you can buy with the latest and greatest

[mayax]

What everyone (except one person) fails to realize in this thread is that different miners will consume different amounts of electricity per TH/s then can do. As a general rule, newer models (based on when they were initially released) tend to be more efficient then older models. Since a cloud mining company would need to be constantly buying newer hardware their average age (and efficiency) of their farm is going to be worse then what you can buy with the latest and greatest

please put some links with the latest hardware and let's make some calculations after that

it seems new : http://www.spondoolies-tech.com/products/holiday-special-sp20-mini-farm-batch-2   
you can earn up to 2 USD per DAY Smiley

Hardware cost = 5500 USD
Electricity = aprox 10 cents per hour


http://www.bitfury.org/products

BF4500
Cost : around 10,000 USD
Specifications 4.5TH/s
3000W

you can earn up to 15 USD per day without electricity cost.

Please correct me if I am wrong.

[ScryptAsic]

What everyone (except one person) fails to realize in this thread is that different miners will consume different amounts of electricity per TH/s then can do. As a general rule, newer models (based on when they were initially released) tend to be more efficient then older models. Since a cloud mining company would need to be constantly buying newer hardware their average age (and efficiency) of their farm is going to be worse then what you can buy with the latest and greatest

please put some links with the latest hardware and let's make some calculations after that

it seems new : http://www.spondoolies-tech.com/products/holiday-special-sp20-mini-farm-batch-2   
you can earn up to 2 USD per DAY Smiley

Hardware cost = 5500 USD
Electricity = aprox 10 cents per hour

This one would have roughly 21 TH/s of mining capacity and would consume roughly 18 KW every hour they run, or 432 KwH per day (source). Assuming you pay $0.09 per KwH (which is low and below the national average) then you would be spending roughly $38.88 per day on electricity.

Based on current difficulty you would earn roughly 0.2002 BTC per day assuming you have 100% luck. Based on a $250 price of bitcoin that works out to $50.05 per day of revenue. If you were to assume the price of bitcoin is $200 (where is was only a few days ago) then you would earn only $40.04 per day which although is above the cost of electricity, it does not give very much room for error.

http://www.bitfury.org/products

BF4500
Cost : around 10,000 USD
Specifications 4.5TH/s
3000W

you can earn up to 15 USD per day without electricity cost.

Please correct me if I am wrong.

I don't see where you got your cost from. However I would agree with the rated hashrate and electric consumption.

The gross revenue would be closer to $10.72 assuming a price of $250 and closer to $8.58 assuming a price of bitcoin at $200. In order to realize $15 of gross revenue you would need to assume the price of bitcoin is ~$350.

Based on 3 Kw per hour of use of this device, you would use 72 KwH per day which works out to $6.48 based on $0.09 per KwH.

I am not sure what your point is. The SP20 is an older model miner

[jaxxx]

i would just start buying bitcoin now instead just saying..

[mayax]

What everyone (except one person) fails to realize in this thread is that different miners will consume different amounts of electricity per TH/s then can do. As a general rule, newer models (based on when they were initially released) tend to be more efficient then older models. Since a cloud mining company would need to be constantly buying newer hardware their average age (and efficiency) of their farm is going to be worse then what you can buy with the latest and greatest

please put some links with the latest hardware and let's make some calculations after that

it seems new : http://www.spondoolies-tech.com/products/holiday-special-sp20-mini-farm-batch-2  
you can earn up to 2 USD per DAY Smiley

Hardware cost = 5500 USD
Electricity = aprox 10 cents per hour

This one would have roughly 21 TH/s of mining capacity and would consume roughly 18 KW every hour they run, or 432 KwH per day (source). Assuming you pay $0.09 per KwH (which is low and below the national average) then you would be spending roughly $38.88 per day on electricity.

Based on current difficulty you would earn roughly 0.2002 BTC per day assuming you have 100% luck. Based on a $250 price of bitcoin that works out to $50.05 per day of revenue. If you were to assume the price of bitcoin is $200 (where is was only a few days ago) then you would earn only $40.04 per day which although is above the cost of electricity, it does not give very much room for error.

http://www.bitfury.org/products

BF4500
Cost : around 10,000 USD
Specifications 4.5TH/s
3000W

you can earn up to 15 USD per day without electricity cost.

Please correct me if I am wrong.

I don't see where you got your cost from. However I would agree with the rated hashrate and electric consumption.

The gross revenue would be closer to $10.72 assuming a price of $250 and closer to $8.58 assuming a price of bitcoin at $200. In order to realize $15 of gross revenue you would need to assume the price of bitcoin is ~$350.

Based on 3 Kw per hour of use of this device, you would use 72 KwH per day which works out to $6.48 based on $0.09 per KwH.

I am not sure what your point is. The SP20 is an older model miner

alright, and what's wrong with what I said? let's say 10 USD per day = revenue ...OK, I m generous and I am saying 20 USD per day. How much does it cost the hardware? How long does it take to recover the investment?

The hardware must be changed yearly or even earlier than that. Another hardware = other money. So, how is it possible to mine these days?