Announcement: Bitmain launches AntMiner solution, 0.68 J/GH on chip

[RogMiner]

Bitmain said the upgrade kit for S1's would be available n a few months, by that time I fear they will be of little use

[sciack]

Bitmain said the upgrade kit for S1's would be available n a few months, by that time I fear they will be of little use

Who said that? I wrote them an email few days ago and they told me is going to be available very soon.

[mcmike313]

is there anyway to group two s3's together as the one mining pool username? will this be better as you can up the difficulty of your worker or pointless?

[sushi]

You can just use the same worker on 2 S3.  btcguild or even eligius, you can do that!!

is there anyway to group two s3's together as the one mining pool username? will this be better as you can up the difficulty of your worker or pointless?

[skizzneena]

Bitmain said the upgrade kit for S1's would be available n a few months, by that time I fear they will be of little use

For certain people, myself included, this would actually work out perfectly.  I am paying low electricity cost so I plan on running my S1s until at least October. Would be a waste to get rid of the S1 blades before their usage time is up.  So yeah, lettin them hash out a little more profit for a couple months, then upgrading boards, sounds like a leet strat to me.  Also, Im not just waiting for the board upgrades, pickin up 2 S3s on batch 3.

[RogMiner]

Bitmain said the upgrade kit for S1's would be available n a few months, by that time I fear they will be of little use

Who said that? I wrote them an email few days ago and they told me is going to be available very soon.

I sent them an email and asked when S1 upgrades would be available and the answer came back "upgrade plan will be released in several months, please wait for our official announcement".

[samsonn25]

It seems it would be easier to upgrade s2 units than s1.

[RogMiner]

It seems it would be easier to upgrade s2 units than s1.

Isn't an S2 just essentially multiple S1 blades in a bigger case? In which case I assume it would be just as esy to upgrade an S2 as it would be to upgrade an S1. I would assume that if the upgrade kit is ever made available it would consist of the bare boards leaving us to bolt on the existing heatsinks (careful with the paste) and fit them into the case.

I am not sure why Bitmain are not releasing the upgrades yet as I would have thought it would be quick BTC for them as they won't have to supply heatsinks or cases, I can olny assume the delay is either due to firmware issues or because they want to get the most out of new purchases first.

[klondike_bar]

It seems it would be easier to upgrade s2 units than s1.

Isn't an S2 just essentially multiple S1 blades in a bigger case? In which case I assume it would be just as esy to upgrade an S2 as it would be to upgrade an S1. I would assume that if the upgrade kit is ever made available it would consist of the bare boards leaving us to bolt on the existing heatsinks (careful with the paste) and fit them into the case.

I am not sure why Bitmain are not releasing the upgrades yet as I would have thought it would be quick BTC for them as they won't have to supply heatsinks or cases, I can olny assume the delay is either due to firmware issues or because they want to get the most out of new purchases first.

the S1 and S2 are very different. The S1 upgrade would be pcb-only since the heatsinks are so large. An S2 upgrade would almost certainly include heatsinks, as they are much thinner and re-mounting 10 pcbs to heatsinks per S2 would be a pain

[Mudbankkeith]

Bitmain said the upgrade kit for S1's would be available n a few months, by that time I fear they will be of little use

Who said that? I wrote them an email few days ago and they told me is going to be available very soon.

I sent them an email and asked when S1 upgrades would be available and the answer came back "upgrade plan will be released in several months, please wait for our official announcement".

"upgrade plan will be released in several months"

This reads more like a trade in option. Probably when the S3 is no longer selling in large numbers.
Just think how many S1 farms you could control, if you had very cheep/free Chinese hydro electric, using free S1 returned units.

[RogMiner]

I think it may be better to purchase the S3's now and dump the S1's on eBay

[Mudbankkeith]

I think it may be better to purchase the S3's now and dump the S1's on eBay

If
S1's are selling on EBay for £50-00
then
they may be a better buy than new S3's ??

[RogMiner]

I think it may be better to purchase the S3's now and dump the S1's on eBay

If
S1's are selling on EBay for £50-00
then
they may be a better buy than new S3's ??

Not sure they will actually be selling for £50.00 at the moment, many seem to achieve £150 - 250 as they wil still be useful for about 6 months, depending on BTC value.

[Mudbankkeith]

I think it may be better to purchase the S3's now and dump the S1's on eBay

If
S1's are selling on EBay for £50-00
then
they may be a better buy than new S3's ??

Not sure they will actually be selling for £50.00 at the moment, many seem to achieve £150 - 250 as they wil still be useful for about 6 months, depending on BTC value.

Last week there were about 6 sellers, this week 60?

There are many asking £250 with 0 bids.

[samsonn25]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

[Biodom]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

even mining.thegenesisblock gives better numbers:

$220 in revenue in 3 mo with ~$90 in expenses
after that-pencil mod and another month of profitability.
total profit $145  or 0.228 BTC
assumed $0.12/kwh in electricity (this is what i pay in US) and $634/BTC

[samsonn25]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

even mining.thegenesisblock gives better numbers:

$220 in revenue in 3 mo with ~$90 in expenses
after that-pencil mod and another month of profitability.
total profit $145  or 0.228 BTC
assumed $0.12/kwh in electricity (this is what i pay in US) and $634/BTC

Your .12 electricity and 634 btc price will mine .129 btc lifetime.

Is your calculator adjusting for difficulty jumps every 2 weeks, which means less mining power.  

In September when diff is near 38 Billion it will mine only .013 more btc.

Its the same numbers/formula .  Only adjusted values.  Change for diff, electricity, btc price.  hash rate, power

I use 18% diff, .16 elec, current btc

And I did a whole article recently in which US customers have usually higher electricity rates than the wholesale cost on their bills.  Typically including delivery, transportation, generation, and administrative fees this usually adds 4-6 cents to a bill.  My wholesale rate here in PA is .12 cents but the bottom line is .16 when its all calculated and time to pay for the watts used.

[Biodom]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

even mining.thegenesisblock gives better numbers:

$220 in revenue in 3 mo with ~$90 in expenses
after that-pencil mod and another month of profitability.
total profit $145  or 0.228 BTC
assumed $0.12/kwh in electricity (this is what i pay in US) and $634/BTC

Your .12 electricity and 634 btc price will mine .129 btc lifetime.

this can't be right, unless you are subtracting the electricity cost. all calculators show ~0.3BTC total (BEFORE subtracting the electricity cost).
if you are assuming 18% jump every 10 days-it is simply NOT going to happen, unless hardware market goes truly crazy.

[samsonn25]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

even mining.thegenesisblock gives better numbers:

$220 in revenue in 3 mo with ~$90 in expenses
after that-pencil mod and another month of profitability.
total profit $145  or 0.228 BTC
assumed $0.12/kwh in electricity (this is what i pay in US) and $634/BTC

Your .12 electricity and 634 btc price will mine .129 btc lifetime.

this can't be right, unless you are subtracting the electricity cost. all calculators show ~0.3BTC total (BEFORE subtracting the electricity cost).
if you are assuming 18% jump every 10 days-it is simply NOT going to happen, unless hardware market goes truly crazy.

YES is after electric cost.  I should say ROI .129.    You have to add the electricity cost to be realistic.  If someone has a BFL minirig, they can claim mines at 500gh, but uses 2400 watts!  is crazy, is as useless as BFL Jalepeno, Single 30 0r 60, ASM Cube.

At 16.8 B difficulty:

July 7-11   16.8 b diff 180gh at 370 watts mines .0054 btc per day x 5 days.  At $632 per btc is $2.40 per day - $1.07 = $2.33 per day profit.  This is $11.65
July 12-23  19.8 b diff
July 24-Aug 5  23.4 b diff
Aug 6- Aug 18  27.6 b diff
Aug 19- Aug 31  32.6 b diff
Sept 1 - Sept 13  38.5 b diff
Sept 14 - Sept 26  45.4 b diff
Sept 27 - Oct 9  53.6 b diff

This is the way to calculate it, by each day within each difficulty period.

[Biodom]

They can mine about .185 btc left with .08 cents electricity in China.

.08 btc with .16 electricity like most of USA.

.01 btc with .30 electricity like alot of Europe.

even mining.thegenesisblock gives better numbers:

$220 in revenue in 3 mo with ~$90 in expenses
after that-pencil mod and another month of profitability.
total profit $145  or 0.228 BTC
assumed $0.12/kwh in electricity (this is what i pay in US) and $634/BTC

Your .12 electricity and 634 btc price will mine .129 btc lifetime.

this can't be right, unless you are subtracting the electricity cost. all calculators show ~0.3BTC total (BEFORE subtracting the electricity cost).
if you are assuming 18% jump every 10 days-it is simply NOT going to happen, unless hardware market goes truly crazy.

YES is after electric cost.  You have to add this.  If someone has a BFL minirig, they can claim mines at 500gh, but uses 2400 watts!  is crazy, is as useless as BFL Jalepeno, Single 30 0r 60, ASM Cube.

At 16.8 B difficulty:

July 7-11   16.8 b diff 180gh at 370 watts mines .0054 btc per day x 5 days.  At $632 per btc is $2.40 per day - $1.07 = $2.33 per day profit.  This is $11.65
July 12-23  19.8 b diff
July 24-Aug 5  23.4 b diff
Aug 6- Aug 18  27.6 b diff
Aug 19- Aug 31  32.6 b diff
Sept 1 - Sept 13  38.5 b diff
Sept 14 - Sept 26  45.4 b diff
Sept 27 - Oct 9  53.6 b diff

This is the way to calculate it, by each day within each difficulty period.

since you assume 18% difficulty, it is going to be incorrect.
According to all calculators in march of 2014, antminer S1 could barely brake even, but it had a 25% ROI in BTC plus residual value that exceeded electricity+PSU.
I am going to revisit this post on october 6. My prediction diff less than 46b. If  it is at 54b, ALL mining is useless.