Is it worth mining?

[notlist3d]

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

The miner you should buy is this one:

http://www.spondoolies-tech.com/products/sp50

110 TH/s ± 10% is a lot of mining power, it have nice potential.

We don't even know the price of that miner.  At first they will be looking for data centers wanting multiple.   They will find a market to. 

It will be a while till you can buy one I predict if you want just one.  Even then it's likely pricey for all it provides.

[1715327467]

1715327467

[Ceizer54]

i Don't think mining is profitable now and next year the chances are mining will be decreased to half because people started realising that ROI is not good in mining.
Even if you got free electricity you need a superfast ASIC miner and then also you will mine a lot less due to competition and high difficulty so my advice is look for alternative ways of earning bitcoins.

[Coinonomous]

i Don't think mining is profitable now and next year the chances are mining will be decreased to half because people started realising that ROI is not good in mining.
Even if you got free electricity you need a superfast ASIC miner and then also you will mine a lot less due to competition and high difficulty so my advice is look for alternative ways of earning bitcoins.

Perhaps. What if the value of bitcoins rises due to the block halving next summer? Bitcoin will always be interesting, if not profitable. What will miners do then, oh hey, you all get half the money you used to get.

[Amph]

i Don't think mining is profitable now and next year the chances are mining will be decreased to half because people started realising that ROI is not good in mining.
Even if you got free electricity you need a superfast ASIC miner and then also you will mine a lot less due to competition and high difficulty so my advice is look for alternative ways of earning bitcoins.

if you have free electricity and already hit roi, you free to mine until bitcoin is zero in value, nothing can stop you anymore

everyone that has free electricity has already roied at this point, it's a downhill road for them

[Mickeyb]

So wait, reading through this thread, even if you have a free electricity and you buy the latest miners, S7 for example, you will not be able to get any profits and ROI? How the heck is this possible?

[notlist3d]

So wait, reading through this thread, even if you have a free electricity and you buy the latest miners, S7 for example, you will not be able to get any profits and ROI? How the heck is this possible?

You will ROI.  But "free" electricity in many cases are better off with a generation old gear or so.   They don't need the most efficient as it is free.

Lets say S3 or S5 likely are a lot better choice for "free" electricity.   They need to get cheapest per GH/T on buying.  The efficiency of newest machine does not mean near as much to them as it does for someone paying .10 cents.

[VirosaGITS]

So wait, reading through this thread, even if you have a free electricity and you buy the latest miners, S7 for example, you will not be able to get any profits and ROI? How the heck is this possible?

I think that the problem with the S7 as i so vocally say is that its too expensive, so you *will* ROI it but it could take a very long time. Meanwhile you can get the same hashrate with 3 S5's for less than half the price, which means you may ROI three pr four times faster because of the difficulty will be lower during your term.

S3 and even S1 would do great. The upside of S1 is you can get them by the bucket, but it make for more management. The upside for both S3 and S1 is you can fit antennas so you can spread them around the house as quiet housewarmer for the winter.

[adaseb]

I have free electricity and have been thru this debate many many times,

If you buy expensive newer miners then it will take longer to reach ROI but you can host more of them since the available power is capped. The ROI on the S7 is like 8 months or so.

If you buy older and cheaper miners you have a shorter time of getting ROI but you won't make alot of money. The ROI on the S3 is like 2-3 months or so.

The more into the future you go, the higher the uncertainly. Price of BTC and Difficulty is easier to predict in 3 months then in 8 months.

So you need to find a balance in between.

Personally I wouldn't buy the S5 or SP20, they are overpriced at the moment. Get the S2, S3, Dragon Miners, KNC Jupiters, etc.

You will make the same amount of money in 6 months with an S3 as you will with an S5 but the S3 is 1/4 cheaper.



I only made money with my miners because I profited off somebody else's loss. I only bought miners which were no longer profittable due to electricity cost or I bought them because the price of BTC was crashing and Difficulty was skyrocketing and the sellers panicked and sold to me.

Only way to make money in this business. Its a zero sum game pretty much. You're gains will be somebody else's loss.

That's why I wouldn't buy an S7, because our loss will be their gain.

[notlist3d]

I have free electricity and have been thru this debate many many times,

If you buy expensive newer miners then it will take longer to reach ROI but you can host more of them since the available power is capped. The ROI on the S7 is like 8 months or so.

If you buy older and cheaper miners you have a shorter time of getting ROI but you won't make alot of money. The ROI on the S3 is like 2-3 months or so.

The more into the future you go, the higher the uncertainly. Price of BTC and Difficulty is easier to predict in 3 months then in 8 months.

So you need to find a balance in between.

Personally I wouldn't buy the S5 or SP20, they are overpriced at the moment. Get the S2, S3, Dragon Miners, KNC Jupiters, etc.

You will make the same amount of money in 6 months with an S3 as you will with an S5 but the S3 is 1/4 cheaper.



I only made money with my miners because I profited off somebody else's loss. I only bought miners which were no longer profittable due to electricity cost or I bought them because the price of BTC was crashing and Difficulty was skyrocketing and the sellers panicked and sold to me.

Only way to make money in this business. Its a zero sum game pretty much. You're gains will be somebody else's loss.

That's why I wouldn't buy an S7, because our loss will be their gain.

I don't know on dragon miner's.  They are getting close to end of life.   They run hot and are not efficient.  Going with S3 would be much better idea with free electricity.  Also I think S3 will have more value if you ever to to sale it say 6 months from now and upgrade.

S5, SP20, Avalon 4.1 all have held value pretty well with new miners slowing down.  So if free electricity it will be harder to justify but they really are great machines.

[Ninjahitoko]

Lol mining is worth it if you make a Bitcoin mining virus.
Highly profitable if you infect enough PCs.

[notlist3d]

Lol mining is worth it if you make a Bitcoin mining virus.
Highly profitable if you infect enough PCs.

Actually this would not be true.  Look at CPU/GPU mining it is very very small money.   You will not get rich off of CPU/GPU.  I know you meant it as a joke... but it would take a massive botnet to do this.  And you are looking at serious jail time (in most countries).

Chances are you will not even get enough for bail if you did this.  Let alone paying a lawyer for when you are caught.  Again horrible idea even as a joke.