Hello!
I found an Arrow Prospero X-1 miner on one of the classifieds websites in my country and got to the idea to buy it. Do you believe it is still worth to buy as of the end of june 2017?
By using an online calculator I managed to determine that the electricity costs per month will increase with about 7 USD if permanently connected, while I would generate about 3-4 USD per month in BTC (at current market price).
I see that I am not in profit with the current situation, but if BTC will still increase in price in a few month, I guess I could recover the loss and maybe get some profit, too.
To make it short: for me it seems to be a "little risk" investment as I could loose some money, but not that much. But I have not experience in mining (this is my first time investigating the mining stuff) and I am not sure if: 1) I investigated correctly; 2) the information I got to really are correct; 3) what to do if something goes wrong (the hardware fails, fire security, etc.). By the way, do you have some suggestions regarding whether I could store it somewhere else than my home? I feel like not safe to keep it running at home and my wife wouldn't agree with that.
The miner costs about 85 USD on the local website.
Thank you!
Hi,
Well the way I see it is two fold:
If you are looking for a Bitcoin Miner that you want to mine with and try to recoup your investment and make a positive ROI in a certain amount of time, then this may not be the Miner for you. It does (depending on your model) either 100Gh/s or 150Gh/s.
I found 1 a while back from my initial inquiry, and I always liked the fun LCD screen part of it, and wasn't looking to make any profits off of it, as it really isn't going to do much anyway at 100-150GH/s.
As you mentioned "the electricity costs per month will increase with about 7 USD if permanently connected, while I would generate about 3-4 USD per month in BTC (at current market price)."
So you are already mining at a loss, which is not a big deal as a lot of people do that "mining at a loss" playing the market or hoping the price of BTC wil rise etc.
You are also spending about $85 for this miner, so it seems like you already calculated that along with the cost of the miner plus the negative monthly profits, so you won't be seeing an ROI anytime soon.
If you are doing it for the fun factor then sure, $85 investment in something cool to have on your desk as a nice piece to talk about with a funky cool LCD screen may be worth it, and open up other possibilities when discussing Bitcoin with a friend or someone who is not in the know yet. Plus you may be able to sell it in a few years as a museum or collectable piece
you listed 3 items:
1) I investigated correctly;Anyone who gives you investment advice, be weary, but in the case of purchasing a miner, - buy what you can afford, and if you dont make any money, be ok with that, or don't invest in one.
2) the information I got to really are correct;The information is straightforward and you seen to have worked out the math part of it on your own, for calculating profits vs expenditures etc.
3) what to do if something goes wrong (the hardware fails, fire security, etc.).This has always been a concern for any miner, there is no guarantee for safety on any piece of electronics that may or may not fail and cause an issue. Some are more known to cause issues that others, and that is well noted. As mentioned in a previous post that was with a different model of the prospero than this one. No one will tell you it will be safe to run, if they do, then you should find a new source to speak to.
As far as running it at your home or at the office or a different location, you need to weigh out your safety factors and what is more important to you.
Is running an $85 miner that runs at a loss that can potentially cause an issue worth running at home where you and your family live?
Does paying for a location to run this particular miner make financial sense as you are already running it at a loss if you purchase it.
I feel like not safe to keep it running at home and my wife wouldn't agree with that.Seems like you already answered your question there. So if you have the option to run the miner at another location and you can afford to do so, then that might be your best bet for your peace of mind and your wife's
Go with your gut, that always seems to work out in the end.
Thanks!
