Use for old Antminer S1?

[Zimtak]

A few weeks ago, I got an old Antminer S1 for cheap, cause I was curious about BC mining. It's got an undervolt mod and does about 140 gh/s. Right now I started with mining on Slushpool. But I only make like 6$ a month. I didnt expect the miner to be this outdated. Or would updating my firmware maybe help?

Is mining altcoins an option? But there seem to be only  a few coins that use SHA256 hash.

Thanks for any help!

[jillscarbrough]

A few weeks ago, I got an old Antminer S1 for cheap, cause I was curious about BC mining. It's got an undervolt mod and does about 140 gh/s. Right now I started with mining on Slushpool. But I only make like 6$ a month. I didnt expect the miner to be this outdated. Or would updating my firmware maybe help?

Is mining altcoins an option? But there seem to be only  a few coins that use SHA256 hash.

Thanks for any help!

How you could think that old gen of antminer will worth for mining this day? antminer s1 with high power and low hashrate (180-200 GH/s for 360 VA)wouldn't give you profit for bitcoin mining, especially if you must to pay electricity bill. try to mine other SHA256 basec coin maybe good choice, but am not sure about it.

[BurtW]

Yes, find an alt coin with a lower overall hash rate and a bright future.  You will probably have to mine at a loss for now.  That is why the bright future is so important.  Mine a lot of coins.  Save them and hope they go up in price in the future.

[jillscarbrough]

Yes, find an alt coin with a lower overall hash rate and a bright future.  You will probably have to mine at a loss for now.  That is why the bright future is so important.  Mine a lot of coins.  Save them and hope they go up in price in the future.

it's sound like a speculation right, but how to pay electricity bill? (in case he need to pay it)

[BurtW]

Yes, find an alt coin with a lower overall hash rate and a bright future.  You will probably have to mine at a loss for now.  That is why the bright future is so important.  Mine a lot of coins.  Save them and hope they go up in price in the future.

it's sound like a speculation right, but how to pay electricity bill? (in case he need to pay it)

I thought we had already established he is not going to be able to pay the electricity bill when he said "I got an old Antminer S1".

[Steamtyme]

Not sure of your climate, but if you pay to heat your house in the winter. The best use for it is as a space heater, plug it in and let it run in the winter months.

Then definitely point it at a smaller alt coin or stay with a pool and you will be bringing in profit, as it offsets your heating costs.

You did the right thing in buying an older used model to learn about BTC, but now you know how it works and can see the benefit of spending some money on new equipment

[UnknownBTC]

Is like buying a NES and expecting to play online games on it

[jillscarbrough]

Yes, find an alt coin with a lower overall hash rate and a bright future.  You will probably have to mine at a loss for now.  That is why the bright future is so important.  Mine a lot of coins.  Save them and hope they go up in price in the future.

it's sound like a speculation right, but how to pay electricity bill? (in case he need to pay it)

I thought we had already established he is not going to be able to pay the electricity bill when he said "I got an old Antminer S1".

yes, it means he needs to stop mining with antminer s1, if he tries to mine altcoin with it, and hold the coins (in case, altcoin more profitable than bitcoin). it also he can't pay his electricity bill.

[BurtW]

Yes, find an alt coin with a lower overall hash rate and a bright future.  You will probably have to mine at a loss for now.  That is why the bright future is so important.  Mine a lot of coins.  Save them and hope they go up in price in the future.

it's sound like a speculation right, but how to pay electricity bill? (in case he need to pay it)

I thought we had already established he is not going to be able to pay the electricity bill when he said "I got an old Antminer S1".

yes, it means he needs to stop mining with antminer s1, if he tries to mine altcoin with it, and hold the coins (in case, altcoin more profitable than bitcoin). it also he can't pay his electricity bill.

The idea of using it to heat his house is a pretty good one.  Run it, heat the house, and get a few BTC (or other crypto) as a side effect.

[jillscarbrough]

The idea of using it to heat his house is a pretty good one.  Run it, heat the house, and get a few BTC (or other crypto) as a side effect.

Entirely agree, will work for a small room. OP will get free room heating.