I Am Unplugging My Bitcoin Cash Miners & You Should Too | ASIC Mining Is Dying

[VoskCoin]

Is it worth it to mine Bitcoin? Aside from the altruistic act of securing the BTC network via Proof-of-Work PoW,  Bitcoin mining doesn't make cents or sense now or in the foreseeable future for the residential small-scale cryptocurrency miner.

https://www.youtube.com/watch?v=1NCqR3jr2Rk


Still want a Bitcoin Miner? - http://geni.us/dBMn (amazon referral link)

There are many factors at play when you analyze cryptocurrency and cryptocurrency mining profits, however with Bitcoin price remaining stagnant and Bitcoin mining difficulty continuing to increase this becomes a very simple equation that the longer time goes on = the less Bitcoin/USD you will earn mining BTC.

Bitcoin Mining Difficulty Chart Coinwarz - http://bit.ly/2Lqr6w6
WhatToMine Bitcoin Mining Profit Calc. - http://bit.ly/2wmy67J
AsicMinerValue Bitcoin Mining Profit Est. - http://bit.ly/ASICm
CryptoCompare BTC Profits Calculator - http://bit.ly/2NiLTn4
Bitcoin BTC to USD Conversion - http://bit.ly/2wb8871
Bitcoin Miner Antminer S9 Shown - https://amzn.to/2LoK32f
Bitmain Antminer S9j official store - http://bit.ly/2P1KJfW
Bitmain Antminer S9 Hydro leaked - http://bit.ly/2w61z6v
Bitcoin BTC Price CoinMarketCap - http://bit.ly/2o7SaH6

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[philipma1957]

No BTC price boost means only cheap power mining makes profit.


Coins were 19990
Coins are     6750


an s-9 earns about $3.56 a day
power cost at 10 cents is about  $ 3.41    a 15 cent profit.

power cost at 9 cents is about   $ 3.07    a  49 cent profit
power cost at 8 cents is about   $ 2.73    a  83 cent profit
power cost at 7 cents is about   $ 2.39    a  $1.17 profit
power cost at 6 cents is about   $ 2.04    a  $1.52 profit
power cost at 5 cents is about   $ 1.70    a  $1.86 profit
power cost at 4 cents is about   $ 1.36    a  $2.20 profit
power cost at 3 cents is about   $ 1.02    a  $2.54 profit


note 4 cent power  in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20  so  at 440  for a s-9 with a psu a 200 day payoff  add 30 days for a 15 percent dead gear rate and

buying 80000 s9's   sounds good

The solar array that buysolar owns is pretty much paid off.  we estimate 1 cent a kwat to maintain it.

So we sound be good to go well  the problem is the size of the array is 200000 watts  which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks  with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

[nc50lc]

The first thing that I've noticed that didn't make cents is the the title: I Am Unplugging My Bitcoin Cash Miners & You Should Too | ASIC Mining Is Dying. That's misleading, specially for newbies.
BTC and BCH (you know the political war)
Contents explains about the increasing difficulty of Bitcoin and also provided links to Bitcoin-related profit calculators, charts and speculation sites.

Anyways, that's pretty expectable considering that ASIC manufacturers doesn't have a limit on who to sell (until now) and how many products to produce, mostly based on the demand.
Nothing's bad for them at the moment, quitting miners and lower sales can cause some minor problems to them but overall, it wont stop them from producing better models since it's their (selfish) business to begin with.
Saying "ASIC mining is dying" while trying to sale ASICs is whole new method of advertising, surely it will work as intended  

[stash2coin]

Yeah sure   

japanese company developing 7nm bitcoin mining equipment

, bitmain is also preping their new iteration of 7nm chips but they are keeping it secret so they can sale the pile of 16nm chips they accumulated...Next year will be full of 7nm ASIC chips.

[SirNeo]

Why would we care that you have turned off the ASCIs?

[Piskeante]

the market is dead. More people are going to be forced to disconnect their machines.

this is just the begining of the end.

[philipma1957]

No BTC price boost means only cheap power mining makes profit.


Coins were 19990
Coins are     6750


an s-9 earns about $3.56 a day
power cost at 10 cents is about  $ 3.41    a 15 cent profit.

power cost at 9 cents is about   $ 3.07    a  49 cent profit
power cost at 8 cents is about   $ 2.73    a  83 cent profit
power cost at 7 cents is about   $ 2.39    a  $1.17 profit
power cost at 6 cents is about   $ 2.04    a  $1.52 profit
power cost at 5 cents is about   $ 1.70    a  $1.86 profit
power cost at 4 cents is about   $ 1.36    a  $2.20 profit
power cost at 3 cents is about   $ 1.02    a  $2.54 profit/b]


note 4 cent power  in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20  so  at 440  for a s-9 with a psu a 200 day payoff  add 30 days for a 15 percent dead gear rate and

buying 80000 s9's   sounds good

The solar array that buysolar owns is pretty much paid off.  we estimate 1 cent a kwat to maintain it.

So we sound be good to go well  the problem is the size of the array is 200000 watts  which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks  with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

5 cent power = $1.89 profit
4 cent power = $2.20 profit
3 cent power + $2.54 profit

so anyone paying 480 for an s-9 + psu   with 3 to 5 cent power does just fine.

since bitmain is selling a s-9 with a psu for 499 and giving a 55 dollar coupon  they are charging 444 + shipping

asic mining is thriving if you have 4  or more megawatts at 4 cents

that is 280 s-9's  which means you are earning $616 a day  all your gear is paid off in 280 days and you have a cash profit of more then 30000 usd

[Metroid]

nobody that uses a lot of power has rates like that right now except contracts, agreements behind closing doors that nobody knows about, many countries in the world subside electricity at that price range to poor families, maximum usage 100kw per month, if more than that then they charge an arm and a leg each kw after that hehe, not even in china which used to have electricity free of charge given to poor families, its game over, whoever is still mining is at loss or steal electricity or somebody else pays their bill.

[d57heinz]

No BTC price boost means only cheap power mining makes profit.


Coins were 19990
Coins are     6750


an s-9 earns about $3.56 a day
power cost at 10 cents is about  $ 3.41    a 15 cent profit.

power cost at 9 cents is about   $ 3.07    a  49 cent profit
power cost at 8 cents is about   $ 2.73    a  83 cent profit
power cost at 7 cents is about   $ 2.39    a  $1.17 profit
power cost at 6 cents is about   $ 2.04    a  $1.52 profit
power cost at 5 cents is about   $ 1.70    a  $1.86 profit
power cost at 4 cents is about   $ 1.36    a  $2.20 profit
power cost at 3 cents is about   $ 1.02    a  $2.54 profit/b]


note 4 cent power  in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20  so  at 440  for a s-9 with a psu a 200 day payoff  add 30 days for a 15 percent dead gear rate and

buying 80000 s9's   sounds good

The solar array that buysolar owns is pretty much paid off.  we estimate 1 cent a kwat to maintain it.

So we sound be good to go well  the problem is the size of the array is 200000 watts  which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks  with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

5 cent power = $1.89 profit
4 cent power = $2.20 profit
3 cent power + $2.54 profit

so anyone paying 480 for an s-9 + psu   with 3 to 5 cent power does just fine.

since bitmain is selling a s-9 with a psu for 499 and giving a 55 dollar coupon  they are charging 444 + shipping

asic mining is thriving if you have 4  or more megawatts at 4 cents

that is 280 s-9's  which means you are earning $616 a day  all your gear is paid off in 280 days and you have a cash profit of more then 30000 usd

Denial is going to cost someone a lot of money. I’d quit trying to justify this fiasco.  We all got suckered by the rich. Take the punch and move along. I’ve said enough about this.  I hope everyone does the math and realized that when bitmain releases overclocked miner with same old chip that new miners are just around the corner.  Same ole bitmain. So Phil’s numbers will mean nothing as diff will shoot up crazy again diluting whatever you have.  It’s to the point where you have to have a million ASICS at 1cent per kw. Then it’s game over for decentralization. Game over. Yes I said game over. Understand?  Stop being in denial. Yes we can make mistakes. And you can too. It’s ok but it’s not the end of the world. Lol

BR

[FFI2013]

This is exactly why asics turn mining into centralization, greed is killing mining for small and home miners even when the big pump happened and everyone in their brother starting gpu mining the difficulty didn't rise compared to what asic are doing

[swogerino]

The Gpu mining seems almost dead , I hope I am wrong but from seeing that a single mining rig of 6 Rx cards with a 180mhs hash rate makes only 0.50 mBTC daily which is 3.35 dollars pretty much says it is dead.

I am taking as an example the average cost of electricity which I think if we make an average in the world would be 0.07-0.08 cent kilowatt. A mining rig like the one above makes about 106 dollars a month and the electricity they pay is about 65-70 dollars, it is only a 30-35 dollars profit.

Add to that the initial cost of the miner and we are in a very grim situation here.

[MATHReX]

Until and unless the market goes back to the times of ATH of BTC and alt-coins, there won't be much profitability going around.
If this continues to be the case, more miners will shut down their rigs because there is no use in keeping them mining even if it makes break even as its just unnecessary strain on the miners.

[vuli1]

hmm, if everyone stops mining btc, btc chain will stop moving... you know what follows, right?

[Bananana]

hmm, if everyone stops mining btc, btc chain will stop moving... you know what follows, right?

Well, if 50% of the people stop mining, profit would go up double. No way everyone will stop mining at the same time, its just funny. Also 22THS Asic 10nm coming soon. Who say its dead ..

[philipma1957]

It is not dead it is thriving for large 3 to 5 cent mines.

I know of a 100 mega watt and a 70 mega watt pair of sites being built.

Both places have access to 4 cent power..

Do the math these types of builds are happening where ever a 3 to 4 cent contract  for power is available.

It will crush little miners.

I was offered a 5 megawatt 1 year contract.but the project stalled.

Not sure I am onboard for that much power anyway.

It is about three thousand s9s..

A little more then I want to manage.

[swogerino]

hmm, if everyone stops mining btc, btc chain will stop moving... you know what follows, right?

Well, if 50% of the people stop mining, profit would go up double. No way everyone will stop mining at the same time, its just funny. Also 22THS Asic 10nm coming soon. Who say its dead ..

That is a big difference in terms of THS as the S9 actual version can do 14 THS and 22 THS is more than 50% improved performance. However for this to be the case in the profitability section we need that these new ASICS to have a 50% lower power consumption and then we will see real profit and huge increase in difficulty.

For the GPU miners I think it is a dead market right now unfortunately, rightfully to be turned off from the users.

[VoskCoin]

The first thing that I've noticed that didn't make cents is the the title: I Am Unplugging My Bitcoin Cash Miners & You Should Too | ASIC Mining Is Dying. That's misleading, specially for newbies.
BTC and BCH (you know the political war)
Contents explains about the increasing difficulty of Bitcoin and also provided links to Bitcoin-related profit calculators, charts and speculation sites.

Anyways, that's pretty expectable considering that ASIC manufacturers doesn't have a limit on who to sell (until now) and how many products to produce, mostly based on the demand.
Nothing's bad for them at the moment, quitting miners and lower sales can cause some minor problems to them but overall, it wont stop them from producing better models since it's their (selfish) business to begin with.
Saying "ASIC mining is dying" while trying to sale ASICs is whole new method of advertising, surely it will work as intended  

My posts get deleted in the bitcoin section so I centered the post around an alt coin aka bcash. I agree with you.

I’m not trying to sell, just saying if someone still decides to... here you go lol

A viewer of my D3 review wanted to purchase my D3 for several thousand (last year), I told him this isn’t a good idea I’d rather just send it to auction and whatever happens happens.

He insisted on buying it I’d rather give the best input I can, but also be credited when relevant if possible. Need USD to pay the bills lol

[VoskCoin]

No BTC price boost means only cheap power mining makes profit.


Coins were 19990
Coins are     6750


an s-9 earns about $3.56 a day
power cost at 10 cents is about  $ 3.41    a 15 cent profit.

power cost at 9 cents is about   $ 3.07    a  49 cent profit
power cost at 8 cents is about   $ 2.73    a  83 cent profit
power cost at 7 cents is about   $ 2.39    a  $1.17 profit
power cost at 6 cents is about   $ 2.04    a  $1.52 profit
power cost at 5 cents is about   $ 1.70    a  $1.86 profit
power cost at 4 cents is about   $ 1.36    a  $2.20 profit
power cost at 3 cents is about   $ 1.02    a  $2.54 profit


note 4 cent power  in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20  so  at 440  for a s-9 with a psu a 200 day payoff  add 30 days for a 15 percent dead gear rate and

buying 80000 s9's   sounds good

The solar array that buysolar owns is pretty much paid off.  we estimate 1 cent a kwat to maintain it.

So we sound be good to go well  the problem is the size of the array is 200000 watts  which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks  with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

As always appreciate you bringing some numbers to the table Phil. Agreed as expected those with cheap power will be the only survivors but really across the board no one is making very impressive returns in this market. Yet somehow.. difficulty continues to climb.. who’s plugging even more machines in? Lol

[DesertMiner]

No BTC price boost means only cheap power mining makes profit.


Coins were 19990
Coins are     6750


an s-9 earns about $3.56 a day
power cost at 10 cents is about  $ 3.41    a 15 cent profit.

power cost at 9 cents is about   $ 3.07    a  49 cent profit
power cost at 8 cents is about   $ 2.73    a  83 cent profit
power cost at 7 cents is about   $ 2.39    a  $1.17 profit
power cost at 6 cents is about   $ 2.04    a  $1.52 profit
power cost at 5 cents is about   $ 1.70    a  $1.86 profit
power cost at 4 cents is about   $ 1.36    a  $2.20 profit
power cost at 3 cents is about   $ 1.02    a  $2.54 profit


note 4 cent power  in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20  so  at 440  for a s-9 with a psu a 200 day payoff  add 30 days for a 15 percent dead gear rate and

buying 80000 s9's   sounds good

The solar array that buysolar owns is pretty much paid off.  we estimate 1 cent a kwat to maintain it.

So we sound be good to go well  the problem is the size of the array is 200000 watts  which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks  with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

You have forgotten several things in your calc:

1- Cooling.
2- Rent.
3- Shipping.
4- Customs duty.
5- VAT.
6- Overhead.

The breakeven point takes far more than a year considering these factors alone. Remember Bitmain only offers a 6 month warranty.

Dont get me wrong, if you have extra investment capital and willing to risk it, the payout will be better than most investment tools within a two year time frame. BUT . . .

Buying BTC on the next dip is a hundred times better than going into a mining venture.

[Thekool1s]

Denial is going to cost someone a lot of money. I’d quit trying to justify this fiasco.  We all got suckered by the rich. Take the punch and move along. I’ve said enough about this.  I hope everyone does the math and realized that when bitmain releases overclocked miner with same old chip that new miners are just around the corner.  Same ole bitmain. So Phil’s numbers will mean nothing as diff will shoot up crazy again diluting whatever you have.  It’s to the point where you have to have a million ASICS at 1cent per kw. Then it’s game over for decentralization. Game over. Yes I said game over. Understand?  Stop being in denial. Yes we can make mistakes. And you can too. It’s ok but it’s not the end of the world. Lol

BR

Exactly, It's a hard pill to swallow. The numbers don't look good or favourable for the small-scale miners. I guess no one can stop bitcoin's centralization. I am never this pessimistic but your statement just got me! Damn you BR!

The Gpu mining seems almost dead , I hope I am wrong but from seeing that a single mining rig of 6 Rx cards with a 180mhs hash rate makes only 0.50 mBTC daily which is 3.35 dollars pretty much says it is dead.

I am taking as an example the average cost of electricity which I think if we make an average in the world would be 0.07-0.08 cent kilowatt. A mining rig like the one above makes about 106 dollars a month and the electricity they pay is about 65-70 dollars, it is only a 30-35 dollars profit.

Add to that the initial cost of the miner and we are in a very grim situation here.
Posted on: August 25, 2018, 04:39:46 PM Posted by: FFI2013

People who have anything less than 0.10 KW/h can continue to mine, I will be turning off my rigs soon, as a small-scale miner, it doesn't make much sense to me to keep mining. Especially at 0.15 KW/h. My smaller rigs with 4 Cards each, They are making around 50 cents a day after taking care of their energy bills. that leaves we with 15 bucks after a month of mining! I am just 1 riser break away from being in profit to being in Loss.

As always appreciate you bringing some numbers to the table Phil. Agreed as expected those with cheap power will be the only survivors but really across the board no one is making very impressive returns in this market. Yet somehow.. difficulty continues to climb.. who’s plugging even more machines in? Lol

Exactly! these numbers don't mean shit! They are the purest form of Speculation. I remember when I made a few new rigs in Jan, They were predicted to break even after 15 months, Now the ROI is nowhere near those figures. Whether its GPU mining or ASIC mining, Unless you are ready to mine at the loss in the near future it's not worth investing in it. It can go the opposite way as well, there is no guaranteeing it. Maybe we will see another bull run at the end of this September and some miners will make their ROI, but as I said earlier there is no guaranteeing it, Its pure speculation.