Matias (OP)
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February 06, 2016, 06:13:51 PM Last edit: February 06, 2016, 06:30:03 PM by Matias |
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If I buy the most efficient hardware at the moment, which is Antminer S7 and start mining with it today, I calculated, that I get 622 euros total before block reward halving. After block reward halving, mining with that is not profitable. I used electricity price 0.07 eurocents/Kwh (actually I pay a little more, but I took into account using waste heat to warming) difficulty increase 6.18 % every two weeks (6.18 is the average increase taken from here https://bitcoinwisdom.com/bitcoin/difficulty ) Calculation is also based on my current earnings from S5 and based on the fact that S7 is 4.1 times faster and of course consumes more electricity Did i miss something, or is it impossible to get positive ROI, if electricity is 0.07 euro cents/kWh, difficulty increases 6.18 every two weeks and you buy new Antminer S7 now? Here is my calculation http://1drv.ms/1S7eWJE
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adaseb
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February 06, 2016, 07:00:39 PM |
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Yes its bad right now. Best to just buy the coin directly or only buy miners if you have free electricity.
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philipma1957
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February 06, 2016, 07:38:27 PM |
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you could buy one and hope for btc price rise.
or you could buy coins and hope for btc price rise.
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Matias (OP)
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February 06, 2016, 08:53:27 PM |
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There has to be some change, because people won't buy gear to lose money. Or is all the mining in the future in the very low electricity rate countries only?
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tlon19
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February 06, 2016, 08:58:55 PM |
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mining gear very fucked up, unless you have a diesel generator and have access to 1.20$ diesel
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-ck
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February 06, 2016, 09:05:26 PM |
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Buy, mine, sell before halving.
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Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel 2% Fee Solo mining at solo.ckpool.org -ck
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enquirer
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February 07, 2016, 12:58:51 PM Last edit: February 07, 2016, 01:09:43 PM by enquirer |
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Your math is off. You will not receive 622 euro from s7, more like 100-200 euro.
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Matias (OP)
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February 07, 2016, 01:15:09 PM |
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Your math is off. You will not receive 622 euro from s7, more like 100-200 euro.
What? I did not mean that I would sell it with 622 but that I earn 622 euros before halving. And it is not enough, because I would neet to pay more from Antminer S7. It is based on average diccifulty rise and current BTC price. You can check my calculation in that exel link.
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chokesir
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February 07, 2016, 02:48:06 PM |
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Buying bitcoin or wait for the next generation miners is the best you can do now. I expect the difficulty to rise for at least 2 more months above 6%. Which mean you will get even less.
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Amph
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February 08, 2016, 07:23:00 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
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Blue_Panda73
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February 09, 2016, 08:33:26 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
When the new ASIC comes out in April, it has only two month to mine before the block reward halving. It might not ROI.
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Amph
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February 10, 2016, 07:25:03 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
When the new ASIC comes out in April, it has only two month to mine before the block reward halving. It might not ROI. well but the new miners are done on purpose to face the halving, with double of the efficiency mayeb like it was for the s7 in comparison to the s5 so they should stand against the halving
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notlist3d
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February 10, 2016, 09:21:32 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
When the new ASIC comes out in April, it has only two month to mine before the block reward halving. It might not ROI. well but the new miners are done on purpose to face the halving, with double of the efficiency mayeb like it was for the s7 in comparison to the s5 so they should stand against the halving And if Bitfury can manage a miner at .06 efficiency that is a game changer. That kind of efficiency is able to survive having, without issue most likely. For the near future I am more worried about difficulty then having. Also before having I would guess Bitmain has something come out. It's hard to say what it will be or when. But we should see more next gen chips. Which is good for miners. There is so much unknown though.
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Blue_Panda73
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February 11, 2016, 07:58:17 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
When the new ASIC comes out in April, it has only two month to mine before the block reward halving. It might not ROI. well but the new miners are done on purpose to face the halving, with double of the efficiency mayeb like it was for the s7 in comparison to the s5 so they should stand against the halving The 16 nm miner shall not ROI for the people with over $0.15/kWh electricity price even though its efficiency is higher, the difficulty will also be higher.
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alh
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February 11, 2016, 06:43:51 PM |
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I think it's still important understand that phrases like "game changer" and "stand against the halving" need to be taken with a grain of salt. While for most folks, the halving will appear very similar to most folks like a 100% increase in difficulty, it is different in several ways. One is that while difficulty can decrease, there will never be an "un-halving". The decrease in the block reward will last until the next reduction. We won't ever go back to a block reward of 25 BTC. While it's theoretically possible for difficulty to decrease by 50% (which effectively "un-does" a 100% increase), I don't think we have ever seen that in the past.
Folks need to remember that in the long run (i.e. years), mining (or transaction processing), will migrate to locales with the lowest electrical costs, lowest cooling, housed in cheap real estate, executing on the most efficient hardware. There is no magic ASIC geometry (i.e. 14 nm), or efficiency level (i.e. .06W/GH), which will insure you an indefinite operating profit unless all the other factors mentioned apply. Very efficient hardware can make a once unprofitable location profitable for a while, it's strictly transitory.
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Amph
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February 12, 2016, 07:39:23 AM |
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the best opportunity for mining, is when a new asic is launched, there is a windows of about 1 month, where the profit is very high, then it will be died in 3-4 month, if you don't have super cheap electricity like your
repeat with the next new asic, so s7 is done already it was good last year, now wait for the new asic beast to come out
When the new ASIC comes out in April, it has only two month to mine before the block reward halving. It might not ROI. well but the new miners are done on purpose to face the halving, with double of the efficiency mayeb like it was for the s7 in comparison to the s5 so they should stand against the halving The 16 nm miner shall not ROI for the people with over $0.15/kWh electricity price even though its efficiency is higher, the difficulty will also be higher. not at the beginning, there is always a 1 month windows where the diff don't increase so fast that the initial advantage of the new chipset is killed, it was the case for every new miner, you can look in the past for the s7 for example
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