Vociferous (OP)
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February 15, 2016, 09:13:57 PM |
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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During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware.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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Amph
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February 16, 2016, 07:26:55 AM Last edit: February 16, 2016, 09:58:48 AM by Amph |
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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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NorrisK
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February 16, 2016, 07:35:50 AM |
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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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Vociferous (OP)
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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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Amph
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February 16, 2016, 10:03:22 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 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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kpitti
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February 16, 2016, 10:19:55 AM |
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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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Vociferous (OP)
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February 16, 2016, 12:28:28 PM |
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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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Raimonn
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February 16, 2016, 01:07:19 PM |
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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.
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Pitchblackroom
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February 16, 2016, 03:09:17 PM |
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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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❱❱ | | ██ █║█ ║║║ ║║║ █║█ ██ | | | | | ▄██▄ ▄██████▄ ▄██████████ ▄██████████▀ ▄▄ ▄██████████▀ ▄████▄ ▄██████████▀ ████████▄ ██████████▀ ▀████████ ▀███████▀ ▄███▄ ▀████▀ ▄█▄ ▄███▄ ▀███▀ ▄███████▄ ▀▀ ▄█████▄ ▄███████▄ ▄██████████ ▄█████████ █████████ ▄██████████▀ ▄██████████▀ ▀█████▀ ▄██████████▀ ▄██████████▀ ▀▀▀ ▄██████████▀ ▄██████████▀ ██████████▀ ▄██████████▀ ▀███████▀ █████████▀ ▀███▀ ▄██▄ ▀█████▀ ▄██████▄ ▀▀▀ █████████ ▀█████▀ ▀▀▀ | | e i d o o ██
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spazzdla
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February 16, 2016, 03:56:16 PM |
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If you're producing your power you'll do just fine.
You're going to have to live near a waterfall.
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Vociferous (OP)
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February 16, 2016, 05:22:03 PM |
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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.
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7788bitcoin
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February 17, 2016, 02:36:54 AM |
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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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