Why buy old ASICS?

[GEMIN_M4]

I don't know why people are buying old ASIc miners like T2 for example simply because they are cheap, those ASIC takes up to 2000watts or more if I get that correctly, even if electricity is free those things are crap or is there something I'm not seeing?.

[hustleman]

They are waste of time... except maybe the L3+.  Those can still turn a profit.

[philipma1957]

well if you have free power a 12th miner clears about 50 usd a month

so why not run 20 of them. it is 1000 a month profit and the gear is cheap to buy.

[JayDDee]

If electricity is free you can mine at a profit and eventually reach ROI.
If you're paying for electricity it's possible to mine at a net loss, costing more in electricity than you earn mining.

[Bitcoin_Arena]

Even if electricity is free those things are crap

Are toy sure about this mate?

I wouldn't mind making some money per day even if the miners are crap, so long as the electricity is free. Making profit is the point 

Another driving factor could be due to the scarcity of the latest miners.

[ANSEL_2.0]

If electricity is cheap I will use any miners available  the only headache here is loud noise that can disturb the neighbors lol, the reason why many don't like mining is paying for electricity bill but if that's free well every miners are welcome.

[7deadlyBTCIN]

well if you have free power a 12th miner clears about 50 usd a month

so why not run 20 of them. it is 1000 a month profit and the gear is cheap to buy.

20 ASIC miners that draws up to 2500watt each will be a menace in the community unless one is living away from crowded neighborhood, 2500watt in 20 places is 50,000watts that's enough to get the police in your door step in few weeks in my country.

[batsonxl]

i will buy if it is cheap,and also important if your electricity is cheap

[Lafu]

I don't know why people are buying old ASIc miners like T2 for example simply because they are cheap, those ASIC takes up to 2000watts or more if I get that correctly, even if electricity is free those things are crap or is there something I'm not seeing?.

If you have free electricity and the " Old ASICs " miners are having no issue and working why should you not buy them.
I would buy and run a few old Asics if i have the free electricity , but saddly i dont have it for free.
Free electricity + any Asic or GPU Miner = Profit for you ! 

[FP91G]

I don't know why people are buying old ASIc miners like T2 for example simply because they are cheap, those ASIC takes up to 2000watts or more if I get that correctly, even if electricity is free those things are crap or is there something I'm not seeing?.

Innosilicon Terminator2 (T2) 17.2TH/s is not a very old ASIC and gives $3/day profit on free electricity.
But the demand for such asics is not very big, I see a lot of ads for sale. These asics are easy and cheap to repair, all you need is free electricity.

[babymethyl2013]

Someone just dumped a bunch of antminer x3s on ebay. scooped up as many as i can in case cryptonight coins make a run in a heavily regulated market.

[philipma1957]

well if you have free power a 12th miner clears about 50 usd a month

so why not run 20 of them. it is 1000 a month profit and the gear is cheap to buy.

20 ASIC miners that draws up to 2500watt each will be a menace in the community unless one is living away from crowded neighborhood, 2500watt in 20 places is 50,000watts that's enough to get the police in your door step in few weeks in my country.

the miners I mention will draw 1000 watts at 12 th or 20kwatts an hour.

now some people can not pull 20kwatts at their home location with out police issues.

my self I can do 4-10kwatts at home.  So I do not use the older ASICs I mine eth with rtx a2000, rtx a4000 and rtx a4500 gpus.

I do have other spots where I run about 15kwatts of old miners along with 200kwatts of new miners, but they are a commercial setup with 4 people as partners.

[Bitbtc8]

Someone just dumped a bunch of antminer x3s on ebay. scooped up as many as i can in case cryptonight coins make a run in a heavily regulated market.

Cryptonight coins? They are almost all dead 🤣😅🤣 the few ones that remain are Dero, Loki, havven, turtle coin, I mined cryptonight coins since 2017 and 90% of them died, it was a painful experience for me.

[adaseb]

People buy them for various reasons.

The most common one is someone is new and has no idea that they consume more power than profit is generated. Most sellers never disclose this.

Another reason is if someone has free power like at a University and they don’t care about efficiency.

Then there are those that want to dip their toes into crypto and do it more as a hobby rather than making a profit. So they don’t care if it’s inefficient or not.

[Daodex]

Desperate newbies might buy them for two reasons, the price is cheap or they think they are at a better advantage using such massive Terahash power to mine but in the end they will understand that it's not about the TB it's about profitability.

[babymethyl2013]

Someone just dumped a bunch of antminer x3s on ebay. scooped up as many as i can in case cryptonight coins make a run in a heavily regulated market.

Cryptonight coins? They are almost all dead 🤣😅🤣 the few ones that remain are Dero, Loki, havven, turtle coin, I mined cryptonight coins since 2017 and 90% of them died, it was a painful experience for me.

Worked out for me real well...Dynex launched as cryptonight original and I just happened to be around to see them and started mining it with all those X3s I got for 20 $$ off ebay. The first day of mining 1 X3 made 6k coins...I soon had my army of 15 of them going. that month was the best mining season of my life. I still have a ton of them for when it runs to 1$.

For anyone looking for a time stamp post of someone making a bet, then having someone say they will be wrong, only for the original person to be right....scroll up and read my post from early 2022 about me buying old asics as a speculative play with the intention of some coin launching.

Dynex lunched cryptonight and I made a ton of money. each miner I bought was 20$$ with shipping...don't believe me go look at the sale history of X3s in early 22.

[philipma1957]

well if you have free power a 12th miner clears about 50 usd a month

so why not run 20 of them. it is 1000 a month profit and the gear is cheap to buy.

20 ASIC miners that draws up to 2500watt each will be a menace in the community unless one is living away from crowded neighborhood, 2500watt in 20 places is 50,000watts that's enough to get the police in your door step in few weeks in my country.

I mine at a small commercial farm with very low power rates.

I burn  about  200kwatts an hour or 2.4 megawatts a day.

We have a large solar install that provides us 1.25 megawatts of that power.

We did s9's but we are now

s19 pro
s17 pro
m30s
m50s
A1246
A1166
L7
L3's which have to have been on of the best miners in terms of profit ever made.



And s9's do not draw 2500 watts

1200 if properly set up so 20 x 1.2 = 24 kwatts an hour. This is not for home mining.

[nsummy]

One reason that you probably won't see mentioned here is earning truly anonymous currency.  Crypto is anonymous to an extent but there is always a paper trail when you are buying from an exchange.  Mining is a way to ensure no one knows you are the owner.

[FP91G]

Someone just dumped a bunch of antminer x3s on ebay. scooped up as many as i can in case cryptonight coins make a run in a heavily regulated market.

Cryptonight coins? They are almost all dead 🤣😅🤣 the few ones that remain are Dero, Loki, havven, turtle coin, I mined cryptonight coins since 2017 and 90% of them died, it was a painful experience for me.

Worked out for me real well...Dynex launched as cryptonight original and I just happened to be around to see them and started mining it with all those X3s I got for 20 $$ off ebay. The first day of mining 1 X3 made 6k coins...I soon had my army of 15 of them going. that month was the best mining season of my life. I still have a ton of them for when it runs to 1$.

For anyone looking for a time stamp post of someone making a bet, then having someone say they will be wrong, only for the original person to be right....scroll up and read my post from early 2022 about me buying old asics as a speculative play with the intention of some coin launching.

Dynex lunched cryptonight and I made a ton of money. each miner I bought was 20$$ with shipping...don't believe me go look at the sale history of X3s in early 22.

Asic Bitmain Antminer X3 (220Kh) is powered by CryptoNight algorithm and Dynex changed the algorithm to DynexSolve at the end of 2022. If you are lucky enough to use Antminer X3 competently, then we are happy for you. But this is very difficult to guess and there are risks of mining a worthless coin.

[babymethyl2013]

Someone just dumped a bunch of antminer x3s on ebay. scooped up as many as i can in case cryptonight coins make a run in a heavily regulated market.

Cryptonight coins? They are almost all dead 🤣😅🤣 the few ones that remain are Dero, Loki, havven, turtle coin, I mined cryptonight coins since 2017 and 90% of them died, it was a painful experience for me.

Worked out for me real well...Dynex launched as cryptonight original and I just happened to be around to see them and started mining it with all those X3s I got for 20 $$ off ebay. The first day of mining 1 X3 made 6k coins...I soon had my army of 15 of them going. that month was the best mining season of my life. I still have a ton of them for when it runs to 1$.

For anyone looking for a time stamp post of someone making a bet, then having someone say they will be wrong, only for the original person to be right....scroll up and read my post from early 2022 about me buying old asics as a speculative play with the intention of some coin launching.

Dynex lunched cryptonight and I made a ton of money. each miner I bought was 20$$ with shipping...don't believe me go look at the sale history of X3s in early 22.

Asic Bitmain Antminer X3 (220Kh) is powered by CryptoNight algorithm and Dynex changed the algorithm to DynexSolve at the end of 2022. If you are lucky enough to use Antminer X3 competently, then we are happy for you. But this is very difficult to guess and there are risks of mining a worthless coin.

I will admit I got lucky but that is the nature of this thread.......I remember I had to scramble to buy a bunch of the power supplies. If I had had all the power supplies on hand day 1 I would have even more of them....I remember my farm of 15 of them was pulling a ton of power. I got lucky it was in the fall and not summer or temps would have been to high.

my main reason for buying the X3 was it was the most developed asic for that algo ever (cryptonight original) and development stopped right after XMR hard forked. I knew there was no risk of there being some secret asic out there because development on the algo truly stopped in 2018 because all incentive stopped and asic development is very expensive.

The Antminer X3 originally retailed for 11k...That price soon dropped and "bonus units" were given to the early 11k  buyers that were mad once XMR said they would hardfork the algo in a month(hence the rise of XMC by bitmain) but the asic was still very expensive. all buyers of the X3 lost big in the same way people did with the Dash antminer D3 BUT that algo still has active development and coins.

What asic could have another speculative run? The antminer B7 which fits the same criteria above.