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Author Topic: Do we get it right? Bitcoing Mining!  (Read 603 times)
BitRobot9000
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October 20, 2017, 05:38:00 PM
 #1

Hi all,

We're not familiar with a bitcoin process very much, so want to ask:

There's a machine called AntMiner S9 https://shop.bitmain.com/antminer_s9_asic_bitcoin_miner.htm/. Its specifications says that it can do 14TH/s and cost only 1500USD. In Ukraine the Cost per KW/h is like 0.01USD/KW, and bitcoin calculator says that with that power we can do like 500USD/month. So it will pay off for 3 months only, which sounds kind of strange. Please advise it it true?

Thank you!  Smiley

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VRobb
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October 20, 2017, 06:24:31 PM
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Yes, and no.  Yes, in that current network diff and bitcoin price will give you US$500+ per month - that is correct.  No, because network diff changes every 2 weeks, and it tends to go up so your mining rewards go down proportionately.

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BitRobot9000
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October 20, 2017, 06:50:53 PM
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Can you advise some range of minimum-maximum profits monthly? Just to get a feeling of how bitcoins course go up and down.

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October 20, 2017, 07:00:28 PM
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lol and everyone is using the same machine...
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October 20, 2017, 08:13:41 PM
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Can you advise some range of minimum-maximum profits monthly? Just to get a feeling of how bitcoins course go up and down.
Those ranges that you do ask is the thing you do actually calculate recently which you can able to earn +-500 monthly on doing mining  with antminer s9 and as someone said above profits would really vary anytime and would surely decrease overtime knowing mining difficulty do increase as the days goes by which is normal to think off and also S9 is being commonly being used on bitcoin mining since this is the latest miner with the highest hash for you to mine as of now.The number you do see on profit calculator is actually true but you should really know the the possible things happen ahead about profitability.


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cma123
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October 20, 2017, 09:02:25 PM
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This is what drives everyone crazy about mining.  The numbers are there, but then things go wrong. 
BitRobot9000
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October 24, 2017, 02:30:41 PM
 #7

Another question!

Do hashes for different cryptocurrencies differ in their complexity? I mean if antmine s9 makes 14TH/s, then this will work just for Bitcoin or Monero and ETH as well?

Thanks!

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AngelSky
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October 24, 2017, 06:18:53 PM
 #8

Hi all,

We're not familiar with a bitcoin process very much, so want to ask:

There's a machine called AntMiner S9 https://shop.bitmain.com/antminer_s9_asic_bitcoin_miner.htm/. Its specifications says that it can do 14TH/s and cost only 1500USD. In Ukraine the Cost per KW/h is like 0.01USD/KW, and bitcoin calculator says that with that power we can do like 500USD/month. So it will pay off for 3 months only, which sounds kind of strange. Please advise it it true?

Thank you!  Smiley

Profits will differ for sure but almost it will be around 450$ to 520$ only so you do not need worry about the profit dude. Even Gpu mining is giving good profit to the altcoin mining in the same time you will be able to find the bitcoin mining with the antminer s9 means profit rate will be higher than you expected since noticing your electricity cost is low than many places.

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monkeydominicorobin
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October 29, 2017, 05:31:16 PM
 #9

Hi all,

We're not familiar with a bitcoin process very much, so want to ask:

There's a machine called AntMiner S9 https://shop.bitmain.com/antminer_s9_asic_bitcoin_miner.htm/. Its specifications says that it can do 14TH/s and cost only 1500USD. In Ukraine the Cost per KW/h is like 0.01USD/KW, and bitcoin calculator says that with that power we can do like 500USD/month. So it will pay off for 3 months only, which sounds kind of strange. Please advise it it true?

Thank you!  Smiley

Calculator is just an estimation. If the machine is not brand new there may be problems. But all in all. It will be a good investment.

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October 29, 2017, 11:17:08 PM
 #10

Did other users already confirm that it can do 14TH/s? You don't need to declare bitcoin revenue in Ukraine and pay taxes?

Bitcoin calculator is an estimation, but as your electricity costs are very low compared to other countries, you will likely have your investment back within a few months.

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