Second hand S5 for Bitmain, are they worth ?

[Erkallys]

Bitmain is selling their used S5 because i think they are upgrading to S7. They got S7 already. So they are using new S7 and sell that used S5, hundred or may be thousand of them...
So is it really worth it?? I dont think so..if they are releasing S7 now, they wont be able to sell used S5 at this price...or may be no one is looking for it..Wait for S7!

Will it not have the S6 before ? And when the S6 (or S7) will be out ? Also I think it will be more expensive.

No the S6 is going to be skipped, for now the S4+ is it. Those a rack mounted format. Maybe they will go back to S6 for the next gen rack mount ASIC but they said they would announce the S7 SoonTM.

Ok. I didn't know this, but I'll buy the S5.

[QuintLeo]

If you have electric in the 5 cent/KWH or less range, those S5s should ROI - though not by a lot - before the bitcoin block rewards gets halved next summer and most current-gen miners get uneconomical or barely break-even even with cheap electric.

 Worse case, the miner itself will probaly ROI but you'll still be underwater a little on the power supply for it - which you can then use on a newer machine.


 If your electric is over 8 cents/KWH I doubt you'll get ROI on the S5 itself ever - only way that would happen would be for bitcoin value to increase faster than diffuculty for the next several months.


 The RATE of difficulty increases has gone up a LOT in the last month, compared to the first half of the year, while the value of Bitcoin had a jump during the Greek crisis but seems to be slowly settling back down some. I'd anticipate another jump in the month or so before the halfing occurs, but I don't see a high probability of any other event that will enhance Bitcoin value in the next year.

[gablay12]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

[alh]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

That ignores the existing millions of coins as part of the "supply". I also have yet to see any cogent explanation of what constitutes Bitcoin "demand". The usual Supply and Demand stuff would be great, except I see no serious way to quantify either.

[unholycactus]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

Wrong way to see it. The demand doesn't double as soon as a halving happens, it pretty much stays the same, so does the price.

[Amph]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

That ignores the existing millions of coins as part of the "supply". I also have yet to see any cogent explanation of what constitutes Bitcoin "demand". The usual Supply and Demand stuff would be great, except I see no serious way to quantify either.

the majority of those coins are in holding mode, so they are freezed, useless for calculating demand and supply ratio, which was in favor of demand until few days ago, what i'm thinking when the price crush a bit is that the demand is decreased and not that the supply was more stronger...

if you can have enough data on all exchange, about how many coins are bought and how much are sold, you can have your estimation about exact number for supply and demand

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

this can be true after you compare the % of dumped coins from miners, with the % of the actual total dumped coins each day, and see how much is this % in comparison with the latter

and all this assuming that demand remain the same...

[VirosaGITS]

I received mine.

Minor and Potential issues aside, the unit perform well, and is very efficient. Overclocking a bit does not reduce efficiency, it actually improve it by a little bit. I'm running longer tests now but i think this is because the Hashrate/W efficiency stays the same but the fan does not run faster, so there is a very minor efficiency gain while overclocking to up to 400~

Also its loud as hell. I posted a graph with numbers if you're a number person.
https://bitcointalk.org/index.php?topic=1151326.0

[notlist3d]

I received mine.

Minor and Potential issues aside, the unit perform well, and is very efficient. Overclocking a bit does not reduce efficiency, it actually improve it by a little bit. I'm running longer tests now but i think this is because the Hashrate/W efficiency stays the same but the fan does not run faster, so there is a very minor efficiency gain while overclocking to up to 400~

Also its loud as hell. I posted a graph with numbers if you're a number person.
https://bitcointalk.org/index.php?topic=1151326.0

Thanks for posting and letting us know what this "used" batch is like.    It is a interesting batch to say the least.

And yes the S5 has some sound and heat to it.   It is not made to be in a area needing a quiet miner really.

[VirosaGITS]

I received mine.

Minor and Potential issues aside, the unit perform well, and is very efficient. Overclocking a bit does not reduce efficiency, it actually improve it by a little bit. I'm running longer tests now but i think this is because the Hashrate/W efficiency stays the same but the fan does not run faster, so there is a very minor efficiency gain while overclocking to up to 400~

Also its loud as hell. I posted a graph with numbers if you're a number person.
https://bitcointalk.org/index.php?topic=1151326.0

Thanks for posting and letting us know what this "used" batch is like.    It is a interesting batch to say the least.

And yes the S5 has some sound and heat to it.   It is not made to be in a area needing a quiet miner really.

Mhm, i'm hardcore however, i am running this in my living room, along with other stuff. xD

Anyways, the summer is ending fairly soon, thus in 2 or so months i'll be able to just open the window to get an ambient temp of 10C, at which point i can use stock fan at lower speed and get very low temps.

But for the next summer, I will have to go with the mods i've seen. The one that make them near silent and much cooler than stock fan running at full blast. Maybe get some printed enclosures too.

[nonbody]

Hi everyone ! Today I saw that Bitmain was selling S5s for 391 USD. But they have already been used. Is it a problem ? What are their estimated lifetimes ?

they guarantee that its working (minus a few scratches), and all my experiences with bitmain have been good. the profitablity on the s5 are very good... for now

[QuintLeo]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

 There is an already existing LARGE supply of Bitcoin though, the block reward just adds a very small amount to the supply.


 The pair of used S5s I got from Bitmain were clean, and in generally good shape. The shipping packaging wasn't great, but the only damage was a couple of fins on the bottom of each heatsink bent up a little, trivial to "fix" and would probably have worked OK without "fixing" them.

[philipma1957]

According to supply and demand theorem, if the award is halved then the BTC price must be doubled.

 There is an already existing LARGE supply of Bitcoin though, the block reward just adds a very small amount to the supply.


 The pair of used S5s I got from Bitmain were clean, and in generally good shape. The shipping packaging wasn't great, but the only damage was a couple of fins on the bottom of each heatsink bent up a little, trivial to "fix" and would probably have worked OK without "fixing" them.

while 14 or 15 million bitcoins are mined.

 Many are lost.
 Many have been frozen in place for years.

So to think the available supply is 14 or 15 million is wrong.

I would think at least 1,000,000  are frozen and not available. 

I would think at least 1,000,000 are lost.

And of the remaining 12-13 million many are being held as speculation.

Try listing  the top 10 exchanges and you will see volume of a few million tops.  So 7000 coins each day vs 3500 coins after ½ may be as much as a 2 to 5% each day.  So 20 to 30% price jump would not be out of order.

[QuintLeo]

I figure there will be a jump in the month before the halfing - based on speculation.

 I dunno if the price will STAY higher a couple months or more past that though. Some of the jump might stick, but I'd hate to bet on all of it doing so.

 Longterm, I believe bitcoin will slowly increase in price - possibly even beating inflation.



 There is of course the possibility of someone with a large number doing a "dump and pump" or "pump and dumb" and bouncing the price at ANY point, or multiple points.

[majestymage]

are they gone...

[QuintLeo]

Bitmain might be switching "batch shipping date" again, there was about a day gap between when they finished up the sales on the "August 5" batch and started sales on the "August 14" batch where none were shown as available. Check back again in a few hours. If none are up for sale by the end of tomorrow, things MIGHT get real interesting.

 They might also have messed up the website a bit when they added that wierd "PACMC" thing, and they're supposed to be adding the S5+ tomorrow to their main site.

[VirosaGITS]

Look like you were right.

https://www.bitmaintech.com/productDetail.htm?pid=00020150725135246063Xsvs9J9J06AE

Green for me right now.

[Erkallys]

The problem for me now is that I still need to buy the BTC. I need approximatively 1,5 BTC but with credit card it's problematic :/.

[VirosaGITS]

The problem for me now is that I still need to buy the BTC. I need approximatively 1,5 BTC but with credit card it's problematic :/.

No one you can buy Bitcoin from, or not ready to afford the cost on services such as Circle?

[unholycactus]

The problem for me now is that I still need to buy the BTC. I need approximatively 1,5 BTC but with credit card it's problematic :/.

No one you can buy Bitcoin from, or not ready to afford the cost on services such as Circle?

Not everybody lives in the US.

[VirosaGITS]

The problem for me now is that I still need to buy the BTC. I need approximatively 1,5 BTC but with credit card it's problematic :/.

No one you can buy Bitcoin from, or not ready to afford the cost on services such as Circle?

Not everybody lives in the US.

Is there no equivalent in your nation? It could be a good business opportunity to be the first in your area if you can get the seed money.

I don't live in the US. So that's not a very good reply to my comment. If you elaborate then maybe i/we can help.