Need recommendation on mining just to earn $50/month, don't need to make profit

[gvuandrew]

Hi, I have no need to make a profit, I am expecting a loss, I don't care about that.
I just want to pay some monthly bills and remain anonymous with no paper trails and I've looked into ALL the options and posted here and got many replies and I realize for me to be 100% anonymous this is how I have to do it.  So....

can you guys recommend a piece of machinery, in $200-400 range that you know works fairly good, won't break easily and won't be too much of a deficit. So if i make $2/day let's say electricity cost $3/day, something like that is fine where i'm losing each day.

I really have no idea what I should buy.  If possible, provide a link to where I can buy the machine you recommend (amazon, ebay...)

thanks so much

[adaseb]

Buy an S5 and you should almost make $50/month.

[gvuandrew]

great!
where is best place to buy this from? any recommendations?

[Sharma]

Here is the most complete list of ASIC's i could find:
https://en.bitcoin.it/wiki/Mining_hardware_comparison
EDIT: i see avalon6  isnt't on this list, you can search for these ones seperately

Plug in the numbers here:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Look for HW on this forum (if you cannot find anything, start a [WTB] post, state your approximate location, budget and the kind of hardware you're intersted in. Use an escrow to keep yourself safe.

If you cannot find anything on this forum, try ebay, or aliexpress (but expect to pay a lot more than the HW is actually worth). You can also use google to find a sale website, but check this forum for bad (or good) reviews, so you won't get scammed to easily.

[gvuandrew]

thanks guys

so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G

so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?

also is this all i need? should i get anything along with this machine like fan etc...?

[Sharma]

thanks guys

so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G

so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?

also is this all i need? should i get anything along with this machine like fan etc...?

I think $239 is quite steep for an S5. I'm pretty sure they'll be cheaper here on this forum...
Regarding the $50, please use the link i gave in my previous post: http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1155&p=1300.00&pc=0.00&pf=0.01&d=158427203767.39200000&r=25.00000000&er=414.08230000&hc=0.00

At current diff, with current block reward and with current BTC price, it'll make you about $45 on average (not including power costs or initial cost to purchase).

Since the diff might rise, the blocks will halve and the price fluctuates, you might need 2 S5's just to be sure.
If you want an other option, use the link i gave in my previous post to compare this with other hardware.

[gvuandrew]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

[Sharma]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

Yes, it's pretty easy to buy them second hand.. If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.

The release date of the S5 was december 2014 (i just googled it, and used the first date i found, might need to be double-checked). You cannot buy new ones from bitmain, so if anybody sells you a new S5, it's because they had it in stock for months and months... You're probably better of buying a cheap second hand unit anyways...

IF you're going to buy a new one, consider an S7 or an avalon6, if you have a really good electricity rate, you might even break even in the long run with those machines.

[jekecoin]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

visit this https://bitcointalk.org/index.php?board=75.0

[gvuandrew]

awesome

so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though

[SFR10]

awesome

so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though

an S7 will do around $187 assuming the difficulty remains the same which it always changes (per 2 weeks). Their main difference is an S7 Antminer is one of the most efficient mining rigs at the moment and s5 is behind it and that makes the breaking point of being profitable than s5.

You could also try the following link: https://bitify.com/section/crypto-mining/
there's an s5 in auction there although personally haven't ordered anything from there (yet).

[alh]

Do you have to pay the bills in fiat currency? I would guess that you do. I don't quite know how you'll remain anonymous once you go through some kind of exchange in order to convert the Bitcoins to "real money" that other folks will accept.

Also consider the heat and noise that will be produced by any kind of miner that will produce the BTC that you want. Just something to consider.

[gvuandrew]

i'll be paying a company that accepts bitcoins

[QuintLeo]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

 The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).

 Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.



 Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).

If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.

[/quote}

 That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.

 Ditto the SP20, but it held it's value better.

[VirosaGITS]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

 The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).

 Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.



 Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).

If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.

[/quote}

 That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.

 Ditto the SP20, but it held it's value better.

Yeah, i'm pretty sure i could sell an S5 for less than what Amazon is listing it for, or ebay or any resellers.

[notlist3d]

when you say prices are cheaper on this forum, do you mean i would buy them used from people?

 The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).

 Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.



 Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).

If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.

[/quote}

 That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.

 Ditto the SP20, but it held it's value better.

Paypal I would suggest is just as strong on buyer protection.   If not possibly stronger.  I'm not sure how many have dealt with it (I have from both sides) they tend to side with buyer.

But forum is cheapest place you will find in most cases.  Also besides S5 there is SP20 and Avalon 4.1 in same area.  So any of the 3 would work for what your wanting and are in that price area.

[mwizard]

can you guys recommend a piece of machinery, in $200-400 range that you know works fairly good, won't break easily and won't be too much of a deficit. So if i make $2/day let's say electricity cost $3/day, something like that is fine where i'm losing each day.

Can you give us your electricity cost in cents per kWh (including any taxes).  Also if you have somewhere to run the miner where the noise and large amount of heat will not be an issue.  

It makes a major difference to the preferred hardware and your costs.

For example to earn $2 per day you would need about 1.5 Terrahash (https://bitcoinwisdom.com/bitcoin/difficulty).

This is about 1 S4 or 4 S3s (or 1.5 S5s).  You are looking at about 1,400 Watts, which is quite a bit of heat.

The electricity will cost roughly $4.00 per day assuming you are paying around 15 cents per kWh.  

[QuintLeo]

Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).

[Sharma]

Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).

Offcourse, his opinion about this fact might change after he/she receives a hefty power bill from his power company... But indeed, this is what i also understood after reading the OP.

[mwizard]

Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).

Offcourse, his opinion about this fact might change after he/she receives a hefty power bill from his power company... But indeed, this is what i also understood after reading the OP.

True. I was just concerned OP may not know what the cost is likely to be or that the earnings are likely to fall.   It is likely to cost him more than $3 to earn $2 in Bitcoin.  It is also not clear if OP understands difficulty changes and halving.