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Author Topic: 300 x S7 Antminers, 2 years ROI, 2 years=out of date hardware - worth it?  (Read 793 times)
Vociferous
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February 15, 2016, 09:13:57 PM
 #1

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners  = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?
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February 16, 2016, 07:26:55 AM
Last edit: February 16, 2016, 09:58:48 AM by Amph
 #2

with that amount of hash i would have tried to go with solo, because in the past it was like doing 20 btc daily with the old diff

even now it is 1/5 of a block, so it should be quite easy to find a block, anyway you can sell your asic if they are not profitable anymore, this is a common strategy to reach roi faster

you mine only for half the roi time and then sell, you should have break even plus some profit
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February 16, 2016, 07:35:50 AM
 #3

You can also mine other coins instead of Bitcoin. For example Peercoin.
After halving I suggest to all miners with electricity at 0.08$/kWh or above to start mining other coins with SHA-256 algo. Bitcoin mining will become unprofitable for miners with bad electricity rate. ( Maybe and maybe not. Bitcoin price can skyrocket back to 1k$ after halving.. )

You also gather namecoins if you are on a pool that allows merge mining. Which boosts the income slightly.

In general, I would avoid mining nowadays. It is insanely difficult and risky to make ROI and even if you make it, you are not making a lot of money anymore. Would you risk 200k to make a 10k in 2 years? Doesn't really sound like a good business plan to me unfortunately.

Selling the hardware may help you get into profits faster, but it will still not get your rich.
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February 16, 2016, 09:15:20 AM
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with that amount of hash i would have tried to go weith solo, because in the past it was like doing 20 btc daily with the old diff

even now it is 1/5 of a block, so it should be quite easy to find a block, anyway you cna sell your asic if they are not profitable anymore, this is a common strategy to reach roi faster

you mine only for half the roi time and then sell, you should have break even plus some profit

Hey,

That's a good point. How does solo mining work? Does the difficulty increase? The probability of solving a block are slim?

Thanks
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February 16, 2016, 10:03:22 AM
 #5

with that amount of hash i would have tried to go weith solo, because in the past it was like doing 20 btc daily with the old diff

even now it is 1/5 of a block, so it should be quite easy to find a block, anyway you cna sell your asic if they are not profitable anymore, this is a common strategy to reach roi faster

you mine only for half the roi time and then sell, you should have break even plus some profit

Hey,

That's a good point. How does solo mining work? Does the difficulty increase? The probability of solving a block are slim?

Thanks

you need patience when mining in solo, i've never found a block on bitcoin in solo, but i've found plenty with altcoin

usually you will find a block when your diff rise above the threshold(best share is called, i think) you can see that on cgminer or whatever software you're using
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February 16, 2016, 10:19:55 AM
 #6

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners  = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?

You can shorten a period of using miners to 1 Year. Then you can try to sell your Miners to improve your figures. It`s not easy, but can be achieved. The problem could be a number of Miners right.
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February 16, 2016, 12:28:28 PM
 #7

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners  = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?

You can shorten a period of using miners to 1 Year. Then you can try to sell your Miners to improve your figures. It`s not easy, but can be achieved. The problem could be a number of Miners right.

I think I am going to wait for new miners using the 16 nm chips and then invest. I wonder if someone with an electronic enegineering background could build their own miner using the chips!
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February 16, 2016, 01:07:19 PM
 #8

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners  = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?

Minning is a bad invest for small users, it can be profitable for big groups that can buy the newest minners before us. Companies have low electricity rates. In my opinion a roi of 2 years in bitcoin minning hardward its a very bad investment.
Pitchblackroom
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February 16, 2016, 03:09:17 PM
 #9

2 years has such a long risk time factor that your hardware can have failure rates. Honestly I think it will depreciate more before your term ends making it unprofitable.

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spazzdla
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February 16, 2016, 03:56:16 PM
 #10

If you're producing your power you'll do just fine.

You're going to have to live near a waterfall.
Vociferous
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February 16, 2016, 05:22:03 PM
 #11

If you're producing your power you'll do just fine.

You're going to have to live near a waterfall.


Aahahah that would be awesome! I have heard of solar panel mines though, which I thought was quite interesting. An electrical engineer did one on Youtube. I suppose the nearest country to me with a lot of sunshine is probably Spain. But I think big loses would be had during winter.
7788bitcoin
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February 17, 2016, 02:36:54 AM
 #12

If you're producing your power you'll do just fine.

You're going to have to live near a waterfall.


Aahahah that would be awesome! I have heard of solar panel mines though, which I thought was quite interesting. An electrical engineer did one on Youtube. I suppose the nearest country to me with a lot of sunshine is probably Spain. But I think big loses would be had during winter.

For solar panels to be profitable, and at current technology and price, it will take at least 5-8 years. This depends on which local electricity cost you are comparing to.
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