300 x S7 Antminers, 2 years ROI, 2 years=out of date hardware - worth it?

[Vociferous]

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During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware.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?

[Amph]

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

[NorrisK]

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.

[Vociferous]

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

[Amph]

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

[kpitti]

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.

[Vociferous]

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!

[Raimonn]

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]

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.

[spazzdla]

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

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

[Vociferous]

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]

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.