antminer s3

[Kaster34]

Hi, So i have an antminer s3, but i haven't been making profit fast how many do i need to make a profit faster than what i am now?

[tomcat2]

Hi,depends on your electric cost
for a quicker larger return you need more hashing power than one s3

[Kaster34]

so it's about .10-.11 i believe around here so what would you estimate on how much hash rate i would need to start making decent profit?

[VirosaGITS]

so it's about .10-.11 i believe around here so what would you estimate on how much hash rate i would need to start making decent profit?

Um, maybe you don't understand how this work? Its Earning vs Cost.

It doesn't matter how much hashrate you have, you won't profit. Use a simple calculator;
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

It works good to calculate today's earning. For the S3, you're running it about 2 cents cost per 1 cent worth of BTC atm. As such even a S7 would be bad for you.

[RichBC]

so it's about .10-.11 i believe around here so what would you estimate on how much hash rate i would need to start making decent profit?

Um, maybe you don't understand how this work? Its Earning vs Cost.

It doesn't matter how much hashrate you have, you won't profit. Use a simple calculator;
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

It works good to calculate today's earning. For the S3, you're running it about 2 cents cost per 1 cent worth of BTC atm. As such even a S7 would be bad for you.

Putting it another way the more S3 based Hash you have the more money you will loose.... 


Rich

[notlist3d]

so it's about .10-.11 i believe around here so what would you estimate on how much hash rate i would need to start making decent profit?

Um, maybe you don't understand how this work? Its Earning vs Cost.

It doesn't matter how much hashrate you have, you won't profit. Use a simple calculator;
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

It works good to calculate today's earning. For the S3, you're running it about 2 cents cost per 1 cent worth of BTC atm. As such even a S7 would be bad for you.

Putting it another way the more S3 based Hash you have the more money you will loose.... 


Rich

At .10  you should have sold a while ago and got a newer generation of gear.   .10 cent's per KWH is not free/super cheap needed at this point for S3's.  If I were you I would look at S7 due to new coupon price.    But at that electricity rate I would not buy a ton and go crazy.

Also you likely are better off to unplug S3 and sell it then run at this point.   It won't bring a ton but sell and buy BTC.

[philipma1957]

fast rule of thumb

0-3 cent power makes money

3-6 cent power  should make money

6-9 cent power  may make money

9 -12 cent power  making money is  possible but you need to really understand every edge and angle of the game.

12 -15 cent power should lose money

15-18 cent power  very very hard to make money

18-21 cent power  very very very hard to make money

21 and up  you really should play horses or casino don't mine

 your miner is older and not too good  but it makes money with 0-3 cent power  about

34 cents a day with 3 cent power
25 cents a day with 4 cent power
16 cents a day with 5 cent power
 7 cents a day with  6 cent power

it loses with 8 cent power and above

[jpucela14]

Hi, So i have an antminer s3, but i haven't been making profit fast how many do i need to make a profit faster than what i am now?


Quite difficult... what do you think about selling your s3 and investing a bit more and get s7 or the future s9...

[jacobmayes94]

If it isn't too expensive to run for you, you might be better off putting it at CKs solo pool and hoping to hit lucky. S3s seem to have held their value in relation to other rigs well. My S3 which I just got working again I am going to leave in the solo pool to hit lucky, it is part of a solo experiment.

[altcoinhosting]

If it isn't too expensive to run for you, you might be better off putting it at CKs solo pool and hoping to hit lucky. S3s seem to have held their value in relation to other rigs well. My S3 which I just got working again I am going to leave in the solo pool to hit lucky, it is part of a solo experiment.

Sure, you can do this... But the OP should understand it's like buying a lottery ticket... He'll invest money in this setup every day, and the chance of hitting jackpot is VERY small.
And IF he hits the jackpot, it'll be a 25BTC block, worth around $10.000.

EDIT: to put things into perspective:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=441&p=340&pc=0.11&pf=1.00&d=166851513282.77700000&r=25.00000000&er=425.00000000&hc=0.00

On average (with all the current conditions about diff, block reward, bitcoin price,...) , it'll take the the OP 18807 days to hit one block (about 51.5 YEARS).
Each day, running an S3 will cost him 90 cents.
In 51.5 years, the power cost will be $16926.

IF he finds a block before the halving, it'll be a nice bonus, but on average, he'll lose money... But like you said: it's lotto mining