ANTMINER S7 is available at bitmaintech.com with 4.86TH/s, 0.25J/GH

[dropt]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

8 BTC was always too much. Hell, I figure 3.8 is still a little high.

[Subw]

People in early batches paid a LOT more

It was clear from the start that they would never ROI bitcoin wise.

[wolfen]

Anybody using 3 PSU's to power one of these?

I use 3 corsair rm1000 to power 2
I would use 3 750's
Don't go cheap.

Well I have a number of corsair 750's, I also have an EVGA 1200 so I could use that plus one of the corsairs or 3 corsairs.  The only thing is that I am pretty sure I have enough 750's sitting on the shelf and the EVGA is being used to power 2 S5's.  So I can go with three 750's without shuffling anything so I was just curious if anyone else is already doing that and wondering how well it was working out.

I took the plunge and ordered a Batch 5 for 4.222BTC.  I may get another if the price of BTC goes up some more and the rest of my transactions confirm.  I sent a number of transactions probably 10 or more hours ago now and a little less than half of them haven't ever been picked up.  I lucked out that the BTC I sent to bitmain for the miner did get picked up in the very next block.  The unconfirmed transaction queue on the network hit 12k earlier today.  Sitting around 6k now.

The three 750's should be great. Hash boards use 400 watts and you don't want to run more than 80% of the capacity of the psu continuously.
Just make sure that use only cables from one psu per board. A daisy chain from one cable can power the controller.
Kick the two hash board only psu's on first then the one hash board with controller. Or all at the same time if you have a switchable pdu.
If you don't go cheap and you use less than 80% you should be golden.

i am not sure why you cannot use more than 80%, especially for gold or plat PSU. In fact, in SP30 they used 105-110% of PSU nominal wattage.
80% is for wall circuit where you are not supposed to use more than 80% of 15A, but I could be mistaken.

That is a safety margin.
For me using the entire stated wattage causes the psu to get pretty hot, rather be safe than incinerated.

[notlist3d]

People in early batches paid a LOT more

It was clear from the start that they would never ROI bitcoin wise.

Some had low electricity and had ROI math that looked ok just a long period to make it back.  But with new BTC high price it's likely the difficulty is higher then we expected.   

Now you do stand a lot better chance at ROI if you bought it twords when it sold out.  Assuming it ships out on time and no big issues.  But it's hard to tell what difficulty does a manufactures likely will try to be pumping out miners as quick as they can.    I think difficulty will go higher for a bit.

[Biodom]

Yep looks like batch 5 might be out at:

Price:       1799 USD
               ( 3.82 BTC )

Sold Out

So that is crazy good price compared to other's.  Would not surprise me if they re-open at a higher rate in a day or so.

I would not be surprised either.  I really don't see this pump stopping anytime soon.  Yes, we will have our moments of consolidation.  But, it will continue going up.  I have my thoughts on how high it will go just before the halving [Where it will dump; then climb again after the halving].

care to share here or in speculation?

[philipma1957]

how do you guys do math?  

I have 3 of them (s-7's)    

my usd out of pocket at time of purchases for the 3 was 2000 +1900 +1600 .

  So I spent 5500 usd on 3

I have to use usd as the tax man converts all btc into usd.

At this point in time I have just cashed in 5250 in btc so I have 250 usd to go to break even.  In terms of the tax man.

I don't try to use btc as a profit indicator.  I use usd  only because I live in the USA and pay the irs taxes.

If I was to track btc profit since August of 2012   vs usd profit  it would should all my btc profits were made during the gpu days.  As I earned 1 or 2 coins a day.  but coins were 7 to 12 usd at the time.

As much as I would love to do only btc accounting we are not there yet.  Fiat will stick around for a while.

[not.you]

I wonder if people are having issues meeting that 1 hour payment deadline.  The unconfirmed transactions on the network are over 15k now which would take at least 8 more blocks to clear, probably more.  And that would be if there weren't new transactions being added.  I don't know if pools prioritize based on the transaction fee but it would seem likely.  I still have a transaction from about 20 hours ago now that hasn't been picked up.  Thankfully the rest of them finally did but they all took hours.

If anyone tries to buy a batch 4 they would be wise to add a larger than normal fee.

how do you guys do math? 

As much as I would love to do only btc accounting we are not there yet.  Fiat will stick around for a while.

I do all my calculations in BTC.  My initial investments in GPU's was in fiat but now I buy all my gear with BTC (including PSU's on newegg) so I just base my return on how much BTC I spend vs how much I mine back.  It certainly helps when BTC value is high compared to fiat but I have been doing it this way for a while. 

[Biodom]

I wonder if people are having issues meeting that 1 hour payment deadline.  The unconfirmed transactions on the network are over 15k now which would take at least 8 more blocks to clear, probably more.  And that would be if there weren't new transactions being added.  I don't know if pools prioritize based on the transaction fee but it would seem likely.  I still have a transaction from about 20 hours ago now that hasn't been picked up.  Thankfully the rest of them finally did but they all took hours.

If anyone tries to buy a batch 4 they would be wise to add a larger than normal fee.

re payment, Qt tries to optimize lower payment and normally it is OK, but at times like this it gets stuck.
When I pay for priority, I PAY for priority. In addition, it helps at least some miners like us.
0.0003 btc fee is high priority and was confirmed very fast even yesterday on the network and with bmt.

[Biodom]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

how does it screw me when i insta-bought BTC to pay for the miner (or used coinbase USD wallet, which is essentially the same).
I essentially paid $$ for it (same price then as now) plus will enjoy ~2 extra months of mining, hopefully.

[notlist3d]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

how does it screw me when i insta-bought BTC to pay for the miner (or used coinbase USD wallet, which is essentially the same).
I essentially paid $$ for it (same price then as now) plus will enjoy ~2 extra months of mining, hopefully.

It is for those holding BTC and buying with BTC instead of holding.  If you spend USD (or get BTC instant to pay for something) I could see how it is a different investment.

But if hold BTC and paid at 230 and now it's 490ish you would have been better just holding.  So I think it depends on if you paid with a stockpile of coin or via usd/instant BTC for miner.

[fullzero]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

how does it screw me when i insta-bought BTC to pay for the miner (or used coinbase USD wallet, which is essentially the same).
I essentially paid $$ for it (same price then as now) plus will enjoy ~2 extra months of mining, hopefully.

I'm going to use your strategy from now on Biodom; it's crazy that I paid 2x the BTC for my S7's compared to what they would cost to buy now.  I am glad I managed some restraint and didn't go all in on S7's.

I have an electric fund that I use to hedge against low BTC exchange rate prices.  It works like this: 
when the BTC exchange rate is high, I sell enough BTC to cover 6-8 months of electric payments.  I keep the resulting usd separate ( elec fund ) and pay the elec bill from it.  If the exchange rate goes down; It only hurts me if it stays down longer than I can pay the electric bill from my fund. 

In my experience it is best to have faith that over a long enough time frame the BTC exchange rate will go up.

Get ready for when a major bank admits they can't copy Bitcoin; and calls forth the real moon.

[Primeys]

I Have a question: If i would buy from Sweden five Antminer S7. How much VAT would be added later on when it gets shipped? Say it cost 1799:- each Times five = 8995:- + VAT? =


Customs "tull" In Sweden would then i presume add the value added tax and bill me within a month i guess... Anyone that has Experience with Buying form Bitmain before and can fill me in on this issue?

Also if i add a Company VAT number with my friends company. Would they Discard the VAT totally? or just bill the company? . Heard different things from different sources

One more thing; looked at one alternative site that ships within the EU, Called http://www.antminerdistribution.com/ . How reliable is that company? if even at all? they claim to Sell S7 overpriced in EUR with VAT included Antminer S7 – 4.86 TH/S – Batch 5
€1.914,- VAT excl./€2.316,- VAT incl.. How can one know if this is true?

[wolfen]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

how does it screw me when i insta-bought BTC to pay for the miner (or used coinbase USD wallet, which is essentially the same).
I essentially paid $$ for it (same price then as now) plus will enjoy ~2 extra months of mining, hopefully.

I'm going to use your strategy from now on Biodom; it's crazy that I paid 2x the BTC for my S7's compared to what they would cost to buy now.  I am glad I managed some restraint and didn't go all in on S7's.

I have an electric fund that I use to hedge against low BTC exchange rate prices.  It works like this: 
when the BTC exchange rate is high, I sell enough BTC to cover 6-8 months of electric payments.  I keep the resulting usd separate ( elec fund ) and pay the elec bill from it.  If the exchange rate goes down; It only hurts me if it stays down longer than I can pay the electric bill from my fund. 

In my experience it is best to have faith that over a long enough time frame the BTC exchange rate will go up.

Get ready for when a major bank admits they can't copy Bitcoin; and calls forth the real moon.

Banks can't lend the same 1000BTC to 1000 people, no fractional reserve baby! One for one.

[Biodom]

Interesting thing about S7 B2, running at prescribed 575. Initially, errors was just Ok, but after a couple of soft reboots it latched itself in a very favorable configuration.
In almost 2 days I got just 145 HW errors, which is 0.0001%. Anybody had theirs this low in errors?
I am afraid to reset it to try higher speeds.

Banks can't lend the same 1000BTC to 1000 people, no fractional reserve baby! One for one.

re banks, of course they will try fractional (at least using ETF), they did it with gold.

[dogjunior]

Wow 3.8BTC for the next batch now.  Crazy.

Those who paid 8 BTC or heck even my S7 I paid 5.8BTC for that shoud arrive tomorrow costs too much!

How high is BTC gonna go on this run?  Some people may get some sweet deals on S7s but its going to screw the early guys that's for sure!

how does it screw me when i insta-bought BTC to pay for the miner (or used coinbase USD wallet, which is essentially the same).
I essentially paid $$ for it (same price then as now) plus will enjoy ~2 extra months of mining, hopefully.

It is for those holding BTC and buying with BTC instead of holding.  If you spend USD (or get BTC instant to pay for something) I could see how it is a different investment.

But if hold BTC and paid at 230 and now it's 490ish you would have been better just holding.  So I think it depends on if you paid with a stockpile of coin or via usd/instant BTC for miner.

It is always the same story. Someone pays too much BTC and then complains that they could now pay less because the price for BTC has gone up. However think about this. What if BTC tanks now back to the $260 level and Bitmain canceled batch 5 and refunded your BTC back at what you paid. You get back 3.75 BTC worth about $975. I bet people would complain that they paid $1800 for the S7 and not 3.75 BTC.

[wolfen]

Interesting thing about S7 B2, running at prescribed 575. Initially, errors was just Ok, but after a couple of soft reboots it latched itself in a very favorable configuration.
In almost 2 days I got just 145 HW errors, which is 0.0001%. Anybody had theirs this low in errors?
I am afraid to reset it to try higher speeds.

Banks can't lend the same 1000BTC to 1000 people, no fractional reserve baby! One for one.

re banks, of course they will try fractional (at least using ETF), they did it with gold.

Gold you can hide and "say" you have X tons, BTC on the blockchain.

[notlist3d]

I Have a question: If i would buy from Sweden five Antminer S7. How much VAT would be added later on when it gets shipped? Say it cost 1799:- each Times five = 8995:- + VAT? =


Customs "tull" In Sweden would then i presume add the value added tax and bill me within a month i guess... Anyone that has Experience with Buying form Bitmain before and can fill me in on this issue?

Also if i add a Company VAT number with my friends company. Would they Discard the VAT totally? or just bill the company? . Heard different things from different sources

One more thing; looked at one alternative site that ships within the EU, Called http://www.antminerdistribution.com/ . How reliable is that company? if even at all? they claim to Sell S7 overpriced in EUR with VAT included Antminer S7 – 4.86 TH/S – Batch 5
€1.914,- VAT excl./€2.316,- VAT incl.. How can one know if this is true?

They ship it out with correct value on it.  If you have a vat yes you will be charged a vat.  They will bill you not bitmain on the vat.

If you use a friends company vat number like you suggested you would be breaking the law I'm guessing of your country.  I would not personally go into breaking laws to save from vat.

[rockyforever]

New ROI is 112 days with .10 K/Wh at current bitcoin price

[bbOOmm]

For those who are interested in the fan noise of an S7.... I took a couple readings...

For reference, I have my S7's set up with 100% fan, I'm still a pretty firm believer of keeping electronics cool for the longevity of the investment. If anyone wants dB readings of different fan speeds, I can do that, just let me know. ( Maybe I'll put together a chart )

Measuring a single S7 B3 with 100% fan, also in the sound reading was the power supplies singing along but they were further back from the dB meter.

85dB at 1ft from the dB meter
75db at 3ft from the dB meter

~A~ weighting vs ~C~ weighting did not produce much diference. ~A~ was maybe 1-2 dB lower than ~C~ weighting

For reference:

Weakest sound heard   0dB
Whisper Quiet Library at 6'   30dB
Normal conversation at 3'   60-65dB
Telephone dial tone   80dB
City Traffic (inside car)   85dB
Train whistle at 500', Truck Traffic   90dB
Jackhammer at 50'   95dB

[hawkfish007]

Not sure if it will pay off, but couldn't resist a B4 for 3.557 shipped. Ordered 2 B5s yesterday for little over 4 BTC each. Hopefully, BTC price will go up or remain the same.