[NEW] Looking for answers, please help.

[SDGPeterG]

Hi all,

I am playing on starting with a bitcoin project within the next few months. I am thinking about investing in buying 5 Antminer s9's to start off with mining bitcoins and to continue to grow untill 10 or 15 of them.

I've been doing some intense researching but the different experiences in mining bitcoins in 2017 just don't make sense to me.. So I am hoping to gain some wisdom from some of you!

1) is it lucrative to invest in 5 of these Antminer s9? (or maybe the newer model that might be released by that time)? I realise it will take a few months time, but according to most calculation sites it will take me around 4 months to draw break-even. Dont include the electricity costs etc.

2) Is it necessary to join a mining pool when you have 5 to 15 of these powerful miners yourself? Or is it impossible to do it yourself without the help of a pool?

Hope to hear from you guys soon! And thank you so much in advance.

[1714002674]

1714002674

[tomwalsh]

1) I don't know the exact figures, as it is based on the ever changing price of bitcoin. Make sure to calculate how much your electricity costs and how much the antminers use first, these miners cost lot more to run than you might think.

2) It is definitely recommended to join a pool, the chances you will mine a block on your own with so few machines is very, very low. If you do happen to, then great you will have a nice pay day, however personally I would take the guaranteed steady income of a pool.

[SDGPeterG]

Thank you for the reply! Don't worry about the electricity costs, these are all figured out and not even a slight problem! So without that to worry about what are the chances?

[tomwalsh]

In that case it is just a case of doing a bit of math and deciding if you want to invest.

you also have to take into account the increasing difficulty of mining, if the price really is at a level where small scale mining is highly profitable again, then you can almost guarantee many people will start to mine and so the overall hash power required to compete will increase.
This isn't to say you should not go for it, it is just something to be aware of.

[SDGPeterG]

I understand. But isn't that a good reason to upscale the mining potential by using more s9 miners instead of just one to maximize the x amount of bc's mined within a month?

[fanatic26]

Do not solo mine.

http://solochance.com/


With 5 12.5th S9s you *might* hit 1 block in 550+ days not factoring luck into the equation.

[SDGPeterG]

Good tip! Joining a pool it is then!

[DannyKrisp420]

Can you even still mine?

[SDGPeterG]

Why would'nt you be able to?

[vh]

Check out my miner comparison page for a quick visual gauge on mining profitability by device:
http://mining.tipsternet.com/miner.html

With difficulty ever increasing and the price bouncing around it can literally change day to day.

If you can keep your electricity cost [way] under earnings $/KWH.   Mining should still be meaningful.

[Amph]

you can try to mine in solo and see your luck but it will take a very tough patience to wait for the block to be mined if ever, with the current diff trend it will also be very frustarting, there is a chance that you will never find anything

a pool is recommended unless you can produce 1 block every two weeks, this is my startegy here, so you can have the chance to hit one before the diff change at least...

Can you even still mine?

yes it's profitable, bitcoin mining is not the best mining but it's not bad now with the current bitcoin value

[SDGPeterG]

you can try to mine in solo and see your luck but it will take a very tough patience to wait for the block to be mined if ever, with the current diff trend it will also be very frustarting, there is a chance that you will never find anything

a pool is recommended unless you can produce 1 block every two weeks, this is my startegy here, so you can have the chance to hit one before the diff change at least...

Can you even still mine?

yes it's profitable, bitcoin minign is not the best mining but it's not bad now with the current bitcoin value

Thanks for your reply. So you think its wise to start with 5 s9 machines and grow from there?

[Amph]

you can try to mine in solo and see your luck but it will take a very tough patience to wait for the block to be mined if ever, with the current diff trend it will also be very frustarting, there is a chance that you will never find anything

a pool is recommended unless you can produce 1 block every two weeks, this is my startegy here, so you can have the chance to hit one before the diff change at least...

Can you even still mine?

yes it's profitable, bitcoin minign is not the best mining but it's not bad now with the current bitcoin value

Thanks for your reply. So you think its wise to start with 5 s9 machines and grow from there?

if you have 5 cent electricity or even 10 cent now with the current profitability, i think you can do it, but buy them second hand at no more than $1500, less is better

[veleten]

Hi all,

I am playing on starting with a bitcoin project within the next few months. I am thinking about investing in buying 5 Antminer s9's to start off with mining bitcoins and to continue to grow untill 10 or 15 of them.

I've been doing some intense researching but the different experiences in mining bitcoins in 2017 just don't make sense to me.. So I am hoping to gain some wisdom from some of you!

1) is it lucrative to invest in 5 of these Antminer s9? (or maybe the newer model that might be released by that time)? I realise it will take a few months time, but according to most calculation sites it will take me around 4 months to draw break-even. Dont include the electricity costs etc.

2) Is it necessary to join a mining pool when you have 5 to 15 of these powerful miners yourself? Or is it impossible to do it yourself without the help of a pool?

Hope to hear from you guys soon! And thank you so much in advance.

solo mining is a game of chance,why would you spend so much money to risk not hitting a block in two years or more
when you can simply achieve ROI by joining a mining pool in a year (provided you do not have crazy electricity prices of over 10 cents)
is it lucrative or not you can calculate yourself using one of the numerous online calculators that factor in difficulty,equipment costs,electricity costs
and running expenses costs,usually people with 10 cents/kwh electricity hit roi in 9-10 months,with the growing bitcoin prices the time decreases
factor in possible s9 malfunctions and calculate yourself,after all it is your money and every business requres a business plan to be successful
generally ,yes it is profitable to mine still,besides if the price is to hit 10.000 you are going to ROI much much faster,then sell s9 and buy whatever will come out next faster and more efficient

[SDGPeterG]

Hi all,

I am playing on starting with a bitcoin project within the next few months. I am thinking about investing in buying 5 Antminer s9's to start off with mining bitcoins and to continue to grow untill 10 or 15 of them.

I've been doing some intense researching but the different experiences in mining bitcoins in 2017 just don't make sense to me.. So I am hoping to gain some wisdom from some of you!

1) is it lucrative to invest in 5 of these Antminer s9? (or maybe the newer model that might be released by that time)? I realise it will take a few months time, but according to most calculation sites it will take me around 4 months to draw break-even. Dont include the electricity costs etc.

2) Is it necessary to join a mining pool when you have 5 to 15 of these powerful miners yourself? Or is it impossible to do it yourself without the help of a pool?

Hope to hear from you guys soon! And thank you so much in advance.

solo mining is a game of chance,why would you spend so much money to risk not hitting a block in two years or more
when you can simply achieve ROI by joining a mining pool in a year (provided you do not have crazy electricity prices of over 10 cents)
is it lucrative or not you can calculate yourself using one of the numerous online calculators that factor in difficulty,equipment costs,electricity costs
and running expenses costs,usually people with 10 cents/kwh electricity hit roi in 9-10 months,with the growing bitcoin prices the time decreases
factor in possible s9 malfunctions and calculate yourself,after all it is your money and every business requres a business plan to be successful
generally ,yes it is profitable to mine still,besides if the price is to hit 10.000 you are going to ROI much much faster,then sell s9 and buy whatever will come out next faster and more efficient

Cool! Thanks for your reply! Don't worry about the electricty bill, how fast is it normally for a pool to hit a block?

[veleten]

it depends ,varies greatly,pools have different hashrate and different luck
on average, a block is found every ten minutes,so a pool with 25% hashpower would be finding blocks (in theory,of course)
every 40 minutes,roughly ,once again:you can be finding them more often or don't find at all,if you are a tiny pool
pool hashrate and percentage distribution you can find,for example,here:

https://blockchain.info/pools

[SDGPeterG]

it depends ,varies greatly,pools have different hashrate and different luck
on average, a block is found every ten minutes,so a pool with 25% hashpower would be finding blocks (in theory,of course)
every 40 minutes,roughly ,once again:you can be finding them more often or don't find at all,if you are a tiny pool
pool hashrate and percentage distribution you can find,for example,here:

https://blockchain.info/pools

https://i.imgur.com/WIaXPcq.png

So according to the link/picture, the pool with the highest % is the smartest pool to choose?

Btw is there a save way to buy multiple Antminer s9's (used) ? Got some tips?

[vh]

So according to the link/picture, the pool with the highest % is the smartest pool to choose?

Btw is there a save way to buy multiple Antminer s9's (used) ? Got some tips?

Don't get stuck on one Initially .  Try a few out and follow their thread here on the forums.
Most folks will end up at a favorite over 3-6 months.  (Because of support friendliness and transparency, it is usually not the top 3)

[veleten]

it depends ,varies greatly,pools have different hashrate and different luck
on average, a block is found every ten minutes,so a pool with 25% hashpower would be finding blocks (in theory,of course)
every 40 minutes,roughly ,once again:you can be finding them more often or don't find at all,if you are a tiny pool
pool hashrate and percentage distribution you can find,for example,here:

https://blockchain.info/pools

So according to the link/picture, the pool with the highest % is the smartest pool to choose?

Btw is there a save way to buy multiple Antminer s9's (used) ? Got some tips?

no,you should choose the pool with LESS hashing power
due to the decentralised nature of bitcoin hashpower should not be concentrated in one hands
as soon as one pool gains too many percentage share,it would be wise to leave that pool and join another with less hashpower
google and read about 51% attack

[SDGPeterG]

One more question (where I think I already know the awnser of):

Does it really matter what internet connection you get when mining with 5-15 s9 miners?