Build a rig or try antminer S9

[MrBigglesworth]

Hi Guys,

Bitcoin noob here. I've dabbled in it and have a wallet/used it to send & rec money/etc, but figured I'd give it a real run for the money (ha! pun intended!) since I work from home and have built more than my fair share of computers.

I was going to test it on my home gaming system since I figured that'd be a good start to learn the ropes. It has an i7-3820, GTX 1070, and 64gb of ram. I saw that I could make basically close to $2/day.

I have another gtx 680 that's not being used, so I was thinking about getting a used gaming system w/ another 680 and SLI'n them together as a dedicated mining rig. I've found a couple in the $500 range. Haven't been able to find an profit projections on the 680 SLI'd. So not sure if it's worth it or not.

If the test goes well w/ the gaming setup, and it provides proof of concept...I'm considering picking up the antminer S9. I've seen them go for just under $4k and I've seen they generate around $16/day. At that rate, ROI for the unit would be about 8 months.

Had a few noob questions:

1) My home bandwidth connection is 200 down / 30 up - how much bandwidth would something like the antminer consume? (I assume the gaming setup w/ the gtx 1070 would see very little change in bandwidth allocation).

2) How consistent are the dedicated data miners? Like I mentioned, the S9 supposedly does $15.74 a day according to NiceHash.com, but how consistent are those figures? I mean, are we talking the S9 doing $2.50/day and then peaking out at $15.74. Would love to hear some S9 owner experiences.

3) I'm not afraid to give new things a try, but $4k is a pretty big upfront investment. Are there alternatives to the S9 that you guys would recommend that can provide 'similar' performance. I'm not opposed to working my way up the bitcoin ladder, but I noticed the S5 only put out about $0.14/day...which is pretty sad. Wouldn't mind something in the $2k range that could manage $8/day. I just don't want to get stuck w/ a $4k paperweight.

4) I've read good things about Ethereum, and you'd think that Ethereum has more of an opportunity to appreciate given the current market rate. Bitcoin miners are pretty easy to use, so I'm not sure if Ethereum has the same type platforms as I've only begun lookin into that crypto.

Thanks for any advice guys! Appreciate the help!!

[powderpc]

For one rig bandwidth is irrelevant. As long as your latency is good then you're fine. These machines use insignificant amounts of bandwidth.

You don't seem to understand the concept of difficulty. Every coin adjusts difficulty based on the network hash rate differently. You need to google that. Basically, if a new miner came out tomorrow that was twice as fast at the same power as your machine you could begin to generate negative returns. At the current 16 nm node we probably won't see any huge leaps in the S9 for a while but you don't get "consistent" returns. It all depends on the network rate and difficulty and the coin value. If BTC tanks then your return will also diminish. There are a variety of negative feedback loops that have historically led to extreme volatility with Bitcoin prices but over time this should improve.

Basically, don't bother buying any ASIC that isn't the latest node technology otherwise you're just wasting resources. Unless you have free electricity of course.

Right now mining Litecoin has a decent energy usage to return ratio. Bitcoin requires massive amounts of power which in turn will generate massive amounts of heat.

[MrBigglesworth]

Interesting. To be honest...it sounds like something I'd like to give a shot just because it'd be cool rather than some type of get rich quick scheme. Very cool cutting edge new tech that isn't (yet) regulated by the government. Maybe a lesser known CC rather than bitcoin would be more fitting for me.

So here's what I've picked up so far...

* Fastest rigs cost the most money, and are most likely to discover 'proof of work' faster than joe schmoe GPU, collecting the bounty of 25 bit coins for finding the block.
*GPUs, even though 150x faster at hashing than CPUs, ASIC (Application Specific Integrated Circuits) are like the new Formula one cars join the GPU go kart racing series, and pretty much negate the GPU model with figures in the Th/sec range. Since Th vs Mh, maybe it'd be more apropos to call it the GPU big wheel series lol.
* The more miners that join a crypto currency, the more complex the algorithm to solve the block becomes. Bitcoin basically looks at the hashing power available across all miners, puts together a block that it estimates will take about 10 min to solve, and rewards 25 bitcoins to the miner that solves the puzzle.
* Miners can operate by themselves or join a 'pool' (ironically called, 'pools') of other miners to improve their chances of solving the block. If a miner's pool provides 'proof of work' for the block, the 25 bitcoins are awarded to the pool and the pool organizer divides the 25 bit coins among its contributors relative to their computer power contributions.
* The more miners, the more secure the currency.
* Major risks include fluctuations in currency values, instrusive gov't regulations, wallet theft, and major advances in processing power of miners.

[fanatic26]

First things first. A block of bitcoins is only 12.5 bitcoins, it has not been 25 for a long time.

Solo mining has a worse chance than playing the lotto to find a block with a single machine. You will just be throwing money away.

Comparing GPUs to ASICs is apples to oranges. You flat out dont mine bitcoin with GPUs, thats what all the other alt coins are for.

Also with just a single machine you can mine on dial up. You need almost no bandwith to run a miner.

Dont use nicehash to calculate profits. IMO dont use nicehash to mine bitcoin either. Nicehash is for lazy people that dont care about maximizing the money they make.

A brand new S9 from bitmain is around $1300, if you are paying $4000 you better ask for some lube while you get bent over. Also from a third party you get zero warranty. Dont do it.

The s9 will be around for at least another year, probably 2 before something usurps it as the most efficient miner available. If you dont pay some outrageous cost for them, you will make your money back. Even at a high residential power rate an s9 will make over $300 a month in profit and pay itself off in under 4 months.

[mindmyown]

A brand new S9 from bitmain is around $1300, if you are paying $4000 you better ask for some lube while you get bent over. Also from a third party you get zero warranty. Dont do it.

where do go get s9 for $1300 these days ??

[Iwantthesundae]

A brand new S9 from bitmain is around $1300, if you are paying $4000 you better ask for some lube while you get bent over. Also from a third party you get zero warranty. Dont do it.

where do go get s9 for $1300 these days ??

LOL YOU DON'T SADLY.... they are way more now....


What does a s9 consist of i went on bit mains website and it doesnt really give you all the specs.... very curious as what they are built off of as I have built high end computers and I'm betting there are ways to get the hash rate sped up to mine faster