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Author Topic: Is it to late to buy an S7?  (Read 2445 times)
ThatDudeTheres
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April 06, 2016, 11:46:16 PM
 #1

Do S7s still make $300ish per month?  I can order one now.  When do the new versions come out?  If it's 3 months it should be worth it. 
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notlist3d
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April 07, 2016, 01:21:02 AM
 #2

Do S7s still make $300ish per month?  I can order one now.  When do the new versions come out?  If it's 3 months it should be worth it. 

You will need to run a ROI with a calculator and your electricity price.  Electricity price is huge.   https://bitcoinwisdom.com/bitcoin/calculator

But on next bitmain product... they are quiet no one can say.   It's highly speculation at this point.   No leaks or anything like some in past.   So no one can tell you if you get 3 months before a new product or not from them.
alani123
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April 07, 2016, 01:34:02 AM
 #3

The ROI is higly dependent on your electricity costs, difficulty and the price too, mining equipment is always going to be a risky investment. With that said running a profitability calcuator, as suggested already, might be the best thing you can do to see what the possible outcomes could be. But be sure to check for multiple scenarios such as big  difficulty increases and lower BTC price.














 

 

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FUBAR-BDHR
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April 07, 2016, 02:47:41 AM
 #4

Do S7s still make $300ish per month?  I can order one now.  When do the new versions come out?  If it's 3 months it should be worth it.  

The simple answer is no they don't.

Code:
The expected generation output, at 4.7 thps, given difficulty of 166,851,513,282.777191162109,
is 0.014166252261 BTC per day and 0.000590260511 BTC per hour.  
Given this rate it will take you 10 weeks, 0 days, 14 hours, 10 minutes, and 1 second to make 1.0 BTC

So your looking at close to 8 weeks to make 300 now and that's before the reward halving.  This is before electric and the cost of the S7 itself which as others have pointed out is a huge factor in determining if you will make anything.  Even with free electric your looking at 30 weeks before making a dime.

ThatDudeTheres
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April 07, 2016, 04:25:44 AM
 #5

Not sure if I filled out the calculator right, but it doesn't look good.

Date                      Difficulty       Revenue       Profit    Return
2016                                                                    -8080
4-7 – 4-12 (6 days)    166 G         12.27         12.02       -8068
4-13 – 4-25 (19 days)    200 G         10.24         10.04       -8058
4-26 – 5-8 (32 days)    240 G         -0.2808      -0.2752    -8058
Gohs
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April 07, 2016, 04:54:06 AM
 #6

Does S7 have the least energy consumption rate of all the calculators?




















Amph
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April 07, 2016, 06:10:57 AM
 #7

no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages
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April 07, 2016, 07:41:36 AM
 #8

Honestly, regardless of electricity, If I had the funds for an S7 (excluding shipping), I would go out and purchase one since it's on the cheap at the moment, and you get to get back what you spend just in right time before the halving. An S7 gives you $186 on monthly basis (assuming with current difficulty only) and not $300 as you were asking. It's price is $575 on bitmain (one fan) at the moment and if you were lucky enough to get your hands on one of the discount coupons , you can get it for $100 less so the ROI is even sooner with less $100 on it's price tag.

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April 07, 2016, 12:16:22 PM
 #9

Honestly, regardless of electricity, If I had the funds for an S7 (excluding shipping), I would go out and purchase one since it's on the cheap at the moment, and you get to get back what you spend just in right time before the halving. An S7 gives you $186 on monthly basis (assuming with current difficulty only) and not $300 as you were asking. It's price is $575 on bitmain (one fan) at the moment and if you were lucky enough to get your hands on one of the discount coupons , you can get it for $100 less so the ROI is even sooner with less $100 on it's price tag.
Smart money says, if you had the funds for an S7, you'd be better off buying btc instead of a miner to mine for btc wasting your electricity. The cost of an S7 includes not just the miner itself but also it requires a Power Supply Unit at least 1600 Watt, the electricity to run it and internet.

As others pointed, you won't make $300 in a month with only one S7. You're too late to the party. The diff factor is rising fast, thanks to all the idiots like you who bought S7 miners thinking these were money printers. Better to buy bitcoin directly than to buy miners to make bitcoins, the latter makes no sense.

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April 07, 2016, 12:59:55 PM
 #10

Not sure if I filled out the calculator right, but it doesn't look good.

Date                      Difficulty       Revenue       Profit    Return
2016                                                                    -8080
4-7 – 4-12 (6 days)    166 G         12.27         12.02       -8068
4-13 – 4-25 (19 days)    200 G         10.24         10.04       -8058
4-26 – 5-8 (32 days)    240 G         -0.2808      -0.2752    -8058

I would take a look at it again, it should not ave a 8000 starting point unless you are doing a LOT of S7's.  Were talking a much smaller investment. But your right profit is harder and harder.   

What is your electricity price?  Also do you have vat/import tax?
ThatDudeTheres
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April 07, 2016, 02:54:36 PM
 #11

My electricity is .09/k.  I don't think I have import tax?
asrilani
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April 07, 2016, 03:23:11 PM
 #12

no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages

It is cheap for a reason. I will not buy a S7 if I have to pay for the electricity more than $0.15 per kWh.
notlist3d
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April 07, 2016, 03:29:18 PM
 #13

My electricity is .09/k.  I don't think I have import tax?

Electricity is nothing special, it is on the high side of mining.    What country are you in?  We can tell more on import tax.   But at .09 cent's I would not get to deep in buying current gen gear.

You might be better off buying BTC.  Hurts me to say as a miner but true.
ThatDudeTheres
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April 08, 2016, 01:19:24 AM
 #14

I'm in the US
talks_cheep
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April 08, 2016, 02:06:54 AM
 #15

I'm in the US
There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

notlist3d
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April 08, 2016, 07:04:48 AM
 #16

I'm in the US
There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us.   With .09 cents you are still at the high side of electricity.  So  profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI.  Just a tough time for miners.
asrilani
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April 15, 2016, 04:21:23 PM
 #17

I'm in the US
There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us.   With .09 cents you are still at the high side of electricity.  So  profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI.  Just a tough time for miners.

The S7 is not profitable for the high electricity cost miners as the difficulty is too high. That was the reason Bitmain reduced the price.
notlist3d
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April 15, 2016, 05:31:10 PM
 #18

I'm in the US
There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us.   With .09 cents you are still at the high side of electricity.  So  profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI.  Just a tough time for miners.

The S7 is not profitable for the high electricity cost miners as the difficulty is too high. That was the reason Bitmain reduced the price.

This is only a half truth.  NOTHING is profitable at high electricity costs.   So you can pick S7 to mention, but the problem is not the S7 but the nature of mining now day's

We don't know bitmains reason for reduction of price I have a feeling it was to stir up sales.   I think it worked and got them many sales with coupon.  But their goal was sales not to save those with high electricity costs.
ThatDudeTheres
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April 15, 2016, 06:35:21 PM
 #19

Yeah i think it's controlled profits. They are benefiting from new hardware, but i think they won't sell to us untill they upgrade 2 generations ahead of what we can get. I think the glory days are over.
notlist3d
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April 15, 2016, 06:58:25 PM
 #20

Yeah i think it's controlled profits. They are benefiting from new hardware, but i think they won't sell to us untill they upgrade 2 generations ahead of what we can get. I think the glory days are over.

They also are benefiting by designing as low cost as possibly can be done.  The new 1 fan design they saved 50 percent of fan costs.  May not seem big but if you sell 10's of thousands it would add up.   So they are benefiting as I think they have mastered S7 from production.  They likely have costs as low as they can with one fan, high freq, less chips, etc.

So now they just ride last bit of S7 profits they can.   And price drop was to boost sales looking at difficulty I believe it did it.
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