WalrusRick (OP)
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June 11, 2015, 03:56:05 PM
Last edit: June 11, 2015, 04:16:57 PM by WalrusRick |
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Which ASIC miners would you recommend?
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MCHouston
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June 11, 2015, 04:02:09 PM |
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Profits on mining are a percentage based on how much you invest, cost per Gh, Electricity cost, and rate of BTC incoming, and infrastructure costs.
So depending on all those variables yes there is money to be made.
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BTC 13WWomzkAoUsXtxANN9f1zRzKusgFWpngJ
LTC LKXYdqRzRC8WciNDtiRwCeb8tZtioZA2Ks
DOGE DMsTJidwkkv2nL7KwwkBbVPfjt3MhS4TZ9
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WalrusRick (OP)
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June 11, 2015, 04:11:29 PM |
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Thank you, I'm a bit of a noob to bitcoin mining.
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Amph
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June 11, 2015, 04:59:59 PM |
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the profit come only after you achieved roi, usually at least 3 months(if you get your asic for a very cheap cost), with free electricty and no diff change, but with some asic this is extended to 5-6 months
usually here the most recommended asic are s3 and s5, with free electricity you can look at s3 more, because efficiency won't matter at that point, and they are far cheaper than s5
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alh
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June 11, 2015, 11:05:38 PM |
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Which ASIC miners would you recommend?
It all depends on your personal situation. If you plan to have a miner within your normal, residential living space, you probably can't tolerate a hot noisy miner which requires more than 120VAC for power. Assuming you are interested in reducing your running cost, or maybe turning a profit, then your electricity costs will play a huge role in your selection. If your electricity cost is over about $0.15 for a Killowat hour, then your electricity costs will exceed what you make in BTC while you are mining. As with most things in life, it depends. |
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WalrusRick (OP)
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June 12, 2015, 12:32:38 AM |
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My electricity is $0.09 per kilowatt and I don't really care about noise and heat.
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alh
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June 12, 2015, 04:53:43 AM |
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With $.09 power, you have several options, all of which will produce an operating profit (produce more than costs in electricity). The choices then are how much do you want to spend for the initial purchase.
Antminer S3 (used), S5
Spondoolies SP20 (used)
Avalon 4.1 (probably too high priced, though quiet)
Some other Antminers (e.g. S4+) and Spondoolies boxes (all used) might work, though you might well need something better than 120VAC for power.
What kind of power connection do you have? Is it the customary USA 120VAC outlet or what?
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Amph
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June 12, 2015, 10:56:23 AM |
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My electricity is $0.09 per kilowatt and I don't really care about noise and heat.
a bit too close to the level where it would not be advisable to start investing in mining, but you're still in with one s5 your income would be 0.012 a day at current diff, which are about $2.7, and consume about 14 kw per day, 14 kw at 0.09 each is around $1.2 so 2.7-1.2 = $1.5 net of profit per day, or $45 per month, one antminers s5, cost around 350, therefore roi is around 8 months if you find 8 months not a very long term, then you can go ahead and start mining, otherwise just leave the whole mining thing to big farms as it is right now |
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Digit-0
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in the end, you only find the beginning
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June 12, 2015, 11:03:53 AM |
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well it depends ofc, but from what i know, most of us have so much electricity cost to run those miners and dont forget that you need to ROI because those miners are not for free, so for ppl like me, thinking in profit is near imposible.
btw if you have free or cheap electricy then for sure you can try it, also i hear that s5 need less electricity to run, dunno if this is true or not.
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Nubminer
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June 15, 2015, 01:33:26 PM |
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With the Exponential increase in difficulty there is no possible way to turn a profit. It is sad but true. If you are getting into mining and see dollar signs or profit for this month, that is awesome but next month those dollars will be a couple less and pretty soon it will be costing you more in electricity than the miner is making. The mining Hardware is getting more and more powerful by the day and every time a new miner comes online then the speed at which the difficulty increases increases. so basically it gets more difficult in less time. The only thing you can hope for is the price of bitcoin to rise faster than the difficulty increases but historically that is not the case. In the end it will all be a waste of time and money but.. what the hell it is engaging and fun and you are part of a movement. Eventually we all will come to the realization that Paper Money is a Scam and something has to take over as currency. I don't think it will be bitcoin but it is a catalyst for something greater this is a site that has a nice calculator with increasing difficulty on it.. punch in your true costs and see what you will make.. https://tradeblock.com/mining/ |
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philipma1957
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'The right to privacy matters'
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July 06, 2015, 03:14:26 PM |
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With the Exponential increase in difficulty there is no possible way to turn a profit.It is sad but true. If you are getting into mining and see dollar signs or profit for this month, that is awesome but next month those dollars will be a couple less and pretty soon it will be costing you more in electricity than the miner is making. The mining Hardware is getting more and more powerful by the day and every time a new miner comes online then the speed at which the difficulty increases increases. so basically it gets more difficult in less time. The only thing you can hope for is the price of bitcoin to rise faster than the difficulty increases but historically that is not the case. In the end it will all be a waste of time and money but.. what the hell it is engaging and fun and you are part of a movement. Eventually we all will come to the realization that Paper Money is a Scam and something has to take over as currency. I don't think it will be bitcoin but it is a catalyst for something greater this is a site that has a nice calculator with increasing difficulty on it.. punch in your true costs and see what you will make.. https://tradeblock.com/mining/ there is no longer an Exponential increase in Difficulty. The op has 9 cent power and could possibly turn a profit in 180 to 210 days. he would need to get 2 s-3's and a psu for 280 usd. mine 24/7/365 hold all the coins he earns. and maybe he would be at + 10 usd on the 209th day more then likely he will lose money since I assumed a price rise from 275 to 375  |
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alh
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July 07, 2015, 08:01:01 AM |
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While I agree that there isn't currently an "Exponential Increase in Difficulty" I expect there is at least a 90% probability of at least a 15% increase in difficulty over 180 days. I can't really argue with a $275 to $375 increase in BTC price over 180 days. Crazier things have happened, though an increase of BTC price by $100, AND a tiny difficulty increase, all over 180 days has a miniscule probability (IMHO).
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