Subw
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February 06, 2016, 12:46:04 AM Last edit: February 06, 2016, 01:02:52 AM by Subw |
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Well, when the s7 came out, it was not overpriced
Let's calculate a bit... S7 B1 was 1823 USD In the middle of september 2015 price of BTC was ~230USD that means B1 costs 7.92BTC At the end of september difficulty was 60,813,224,039 at 4.86Th that translates to 1.206 BTC/month or 6.5 months of ROI with free electricity and zero diff increases - this is a guaranteed non ROI numbers. That means your analytic skills sucks big time, sorry My single frustration is about bitmain lowering the price for the s7 to half of what I paid less than 3 months ago.
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I truly could not sell my batch 7 or 8 miners at a breakeven at the moment, even if I factor in how much btc I've made in the last 60 days, because they're still selling units.
so you included resale value to your ROI calculations? that was a mistake... When has bitmain ever lowered price by 50% in subsequent batches of miners in less than 60 days and kept selling batches in the past? In my experience, antminers usually sold out quickly, and there was a limit to production. They kept price consistent. The other antminers didn't decrease in value by more than 50% in less than 60 days, like what's happening right now. bitmain made a huge markup on a relatively simple piece of electronics, it was clear such price won't last long
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nhando
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February 06, 2016, 01:59:59 AM |
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......
Awesome test - I only tested on 120V at 60% fan and EVGA G2 which shows 1440W+ depending on FAN speeds. Can you do the same test for 700MHZ with FAN speed of 70% and 731M? This is good info when we need to download clock or OC. i put the miner in the window and here are the results: 1375watt at 225volt, fan at 70% temps 27, 26, 30 ambient: Temperatura acum: -0.9 ˚C 5m9s 5,148.56 4,910.36 6m12s 5,185.98 4,952.81 7m21s 5,195.43 4,983.65 8m42s 4,832.80 4,955.82 10m46s 4,738.82 4,940.59 12m39s 4,828.41 4,931.71 HW 48 0.0065% 0.0066% Thanks, so it does seem 731M is worth the small wattage increase for the extra 200GH+. Appreciate the test, this confirms my belief.
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Just "Mining" my own business.
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methodlimp
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February 06, 2016, 03:01:52 AM |
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Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism. Spare me the economics lesson kind sir. My argument isn't "I'm hopping mad because I spent too much money." No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101." Even if that price means a 50% discount within 2 months. If we were talking about anything other than a unit which is meant to consistently create an economic product for the owner, then I'd be totally on the same page with you. But the S7 has made me realize that the smartest people in the room are the ones who stopped home mining, and never bought an s7 in the first place. Bitcoin mining is NOT scalable. And certainly not profitable. And with equipment already obsolete in less than 60 days - with impaired ability to resell for a reasonable price, not something you can really maintain (unless you like losing money for a loud heater in your room). It's game over folks. The S7 is the destruction of the hobby miner.
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adaseb
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February 06, 2016, 03:07:45 AM |
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Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism. Spare me the economics lesson kind sir. My argument isn't "I'm hopping mad because I spent too much money." No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101." Even if that price means a 50% discount within 2 months. If we were talking about anything other than a unit which is meant to consistently create an economic product for the owner, then I'd be totally on the same page with you. But the S7 has made me realize that the smartest people in the room are the ones who stopped home mining, and never bought an s7 in the first place. Bitcoin mining is NOT scalable. And certainly not profitable. And with equipment already obsolete in less than 60 days - with impaired ability to resell for a reasonable price, not something you can really maintain (unless you like losing money for a loud heater in your room). It's game over folks. The S7 is the destruction of the hobby miner. Its because everybody wants to have a money printing machine -that's why we all got sucked into it.
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Exoskeleton
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February 06, 2016, 03:13:22 AM |
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1) Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism.
2) My argument isn't "I'm hopping mad because I spent too much money."
3) No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101."
?? 1) Kind of. If you bought a batch 1-7 that is now at a loss, shame on you. 2) Ok 3) Uh, yeah. OK. Nevermind.
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nhando
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February 06, 2016, 05:02:58 AM |
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Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism. Spare me the economics lesson kind sir. My argument isn't "I'm hopping mad because I spent too much money." No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101." Even if that price means a 50% discount within 2 months. If we were talking about anything other than a unit which is meant to consistently create an economic product for the owner, then I'd be totally on the same page with you. But the S7 has made me realize that the smartest people in the room are the ones who stopped home mining, and never bought an s7 in the first place. Bitcoin mining is NOT scalable. And certainly not profitable. And with equipment already obsolete in less than 60 days - with impaired ability to resell for a reasonable price, not something you can really maintain (unless you like losing money for a loud heater in your room). It's game over folks. The S7 is the destruction of the hobby miner. Its because everybody wants to have a money printing machine -that's why we all got sucked into it. Printer is out of ink, that's all. Time to refill it. =) Oh wait, the ink cost more than the printer...............they got me!!!
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Just "Mining" my own business.
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vortexz
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February 06, 2016, 12:31:49 PM |
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This si because BITMAIN s own greed.they sold thousands and thousands of S7 and they are still producing even more.this is why the huge increase in diff.they should have sold only a few batches and then stop production until S9...
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philipma1957
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February 06, 2016, 02:27:54 PM Last edit: February 06, 2016, 03:10:13 PM by philipma1957 |
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alienesb
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February 06, 2016, 02:50:32 PM |
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Well I think this should teach people to wait and not be first at this point. Also, I don't plan on getting any more miners until halfing happens at this point. Time to just save up the BTC and see if the price rises enough to have made that a smart move... fingers crossed.
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baazju
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February 06, 2016, 02:59:48 PM |
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Well I think this should teach people to wait and not be first at this point. Also, I don't plan on getting any more miners until halfing happens at this point. Time to just save up the BTC and see if the price rises enough to have made that a smart move... fingers crossed.
I'm on board with this to be honest. I'd like to see where everything is at once the halving hits.. There is no way to make ROI on anything you buy now before the halving, and who knows what will happen then. Too risky.
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philipma1957
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February 06, 2016, 03:33:51 PM |
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Marvell1
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February 06, 2016, 04:11:42 PM |
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Man I just seen this 20% difficulty jump Feb 6th I wonder if these rises are sustainable
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adaseb
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February 06, 2016, 04:22:29 PM |
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Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism. Spare me the economics lesson kind sir. My argument isn't "I'm hopping mad because I spent too much money." No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101." Even if that price means a 50% discount within 2 months. If we were talking about anything other than a unit which is meant to consistently create an economic product for the owner, then I'd be totally on the same page with you. But the S7 has made me realize that the smartest people in the room are the ones who stopped home mining, and never bought an s7 in the first place. Bitcoin mining is NOT scalable. And certainly not profitable. And with equipment already obsolete in less than 60 days - with impaired ability to resell for a reasonable price, not something you can really maintain (unless you like losing money for a loud heater in your room). It's game over folks. The S7 is the destruction of the hobby miner. Its because everybody wants to have a money printing machine -that's why we all got sucked into it. Printer is out of ink, that's all. Time to refill it. =) Oh wait, the ink cost more than the printer...............they got me!!! This is probably the best analogy i've read just yet but yes.
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ATCkit
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February 06, 2016, 06:21:53 PM |
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Well I think this should teach people to wait and not be first at this point. Also, I don't plan on getting any more miners until halfing happens at this point. Time to just save up the BTC and see if the price rises enough to have made that a smart move... fingers crossed.
We're on the same page. I'm guessing there will be rigs available that are more than twice as efficient as the S7. Will they be worth buying? There's so many variables that there's no way to know yet. If BTC goes up as much as some speculate (ie: 1200 - 1700 USD), it might be worth it--ie: despite the halving. Anyone got an accurate crystal ball?
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dogie
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February 06, 2016, 06:49:23 PM |
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Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Exactly. If the market rate went up or held (like in the SP20 vs S5 days) you wouldn't be complaining. Some people will win, some people will lose, this isn't Bitmain conspiring to get you.
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wikkidtt
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February 06, 2016, 08:20:39 PM |
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Board 1 just died in my batch 9
Had to unplug it as it would just cause it not to mine.
Who do I contact for warranty repair?
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baazju
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February 06, 2016, 08:36:25 PM |
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Board 1 just died in my batch 9
Had to unplug it as it would just cause it not to mine.
Who do I contact for warranty repair?
Bitmain, probably info@bitmaintech.com
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Beware of scammers.
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mavericklm
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February 06, 2016, 08:40:37 PM |
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Contact bitfury, spondoolies, bw, avalon.....
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alienesb
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February 06, 2016, 08:46:28 PM |
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Board 1 just died in my batch 9
Had to unplug it as it would just cause it not to mine.
Who do I contact for warranty repair?
Bitmain, probably info@bitmaintech.comProbably on some sort of Chinese vacation
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notlist3d
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February 06, 2016, 08:47:22 PM |
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Board 1 just died in my batch 9
Had to unplug it as it would just cause it not to mine.
Who do I contact for warranty repair?
Bitmain, probably info@bitmaintech.comCorrect for RMA that is the email to use. Been a while since I have had to use it, but it should work. Other option is the ticket system. But the email seems far more popular.
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