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suky321 (OP)
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February 07, 2014, 02:39:38 PM |
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Hi, I'm new to mining, and had some money in the bank that isn't earning much interest. I am going to purchase the Neptune second batch for $9,995. Is this a worthwhile investment? My electricity costs are $0.25 per Kwh.
I understand that the Neptune will mine at between 3,000 - 4,800 Giga Hashes per hour.
I've used BTC calculators on the web, that show break even point after 5 days, then the rest is profit after energy costs. I understand that difficulty will increase in the future, but not sure how much that will impact earnings, but the Neptune should be somewhat futureproof with it's proposed hashrate.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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tokona
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February 08, 2014, 03:07:53 AM |
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vadoff
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Activity: 84
Merit: 10
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February 08, 2014, 07:30:02 AM |
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At 3K TH mining bitcoins, you'll make it back in like 25-30 days, and that's if you had it right NOW.
You probably won't be getting yourself a Neptune until at least May... by that time the difficulty would probably have risen 16+ times.
So you probably won't ever make back what you put in - maybe if you mined some and resold you could make some profit... barely.
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Praeconium
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Activity: 102
Merit: 10
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February 08, 2014, 08:14:59 AM |
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At 3K TH mining bitcoins, you'll make it back in like 25-30 days, and that's if you had it right NOW.
You probably won't be getting yourself a Neptune until at least May... by that time the difficulty would probably have risen 16+ times.
So you probably won't ever make back what you put in - maybe if you mined some and resold you could make some profit... barely.
16x times? Please enlighten us.. |
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samsonn25
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February 08, 2014, 09:00:40 AM |
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Hi, I'm new to mining, and had some money in the bank that isn't earning much interest. I am going to purchase the Neptune second batch for $9,995. Is this a worthwhile investment? My electricity costs are $0.25 per Kwh.
I understand that the Neptune will mine at between 3,000 - 4,800 Giga Hashes per hour.
I've used BTC calculators on the web, that show break even point after 5 days, then the rest is profit after energy costs. I understand that difficulty will increase in the future, but not sure how much that will impact earnings, but the Neptune should be somewhat futureproof with it's proposed hashrate.
The Neptune is behind schedule. By May the difficulty will be much higher than now. Make a sample difficulty equation where the network increase like 20% every 11 days and by May see what the diff level would be. Then plug in what 3TH machine will be making by then. |
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Hashcesar84
Newbie
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Activity: 56
Merit: 0
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February 08, 2014, 12:11:15 PM |
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Hi, I'm new to mining, and had some money in the bank that isn't earning much interest. I am going to purchase the Neptune second batch for $9,995. Is this a worthwhile investment? My electricity costs are $0.25 per Kwh.
I understand that the Neptune will mine at between 3,000 - 4,800 Giga Hashes per hour.
I've used BTC calculators on the web, that show break even point after 5 days, then the rest is profit after energy costs. I understand that difficulty will increase in the future, but not sure how much that will impact earnings, but the Neptune should be somewhat futureproof with it's proposed hashrate.
I think you should not buy miners now, the new generation is coming. Maybe visit group buy section here you can find some interesting posts |
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samsonn25
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February 08, 2014, 12:19:45 PM |
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Hi, I'm new to mining, and had some money in the bank that isn't earning much interest. I am going to purchase the Neptune second batch for $9,995. Is this a worthwhile investment? My electricity costs are $0.25 per Kwh.
I understand that the Neptune will mine at between 3,000 - 4,800 Giga Hashes per hour.
I've used BTC calculators on the web, that show break even point after 5 days, then the rest is profit after energy costs. I understand that difficulty will increase in the future, but not sure how much that will impact earnings, but the Neptune should be somewhat futureproof with it's proposed hashrate.
I think you should not buy miners now, the new generation is coming. Maybe visit group buy section here you can find some interesting posts By the time the new generation comes out difficulty will be 10x harder. Will need to do 30TH what something today does 1.5 TH and wafer size will be constrained to 20-28 nm |
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suky321 (OP)
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February 09, 2014, 11:37:48 AM |
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Thanks all for the responses, seems like it's not worth mining, unless BTC shoots up considerably in value. I will look into the groupbuy section. Thanks.
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