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Author Topic: Begin mining?  (Read 1433 times)
Damianxz
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May 30, 2014, 12:56:41 AM
 #21

and what about of these renting hardware services??
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tersagun
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May 30, 2014, 07:56:43 AM
 #22

I do not understand the renting logic either.

Furthermore, unless you believe BTC will see 1000$ in several months, buying equipment and breaking even seems impossible as of now. I was calculating without the difficulty increase (silly me) and was reaching very sweet numbers.
But considering 30+% increase every month, you don't even break out with the 3000$-1400GhS device.

of course that's assuming you won't be reselling the equipment after 3-4 monthsç
Mobius7
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May 31, 2014, 08:11:26 AM
 #23

I do not understand the renting logic either.

Furthermore, unless you believe BTC will see 1000$ in several months, buying equipment and breaking even seems impossible as of now. I was calculating without the difficulty increase (silly me) and was reaching very sweet numbers.
But considering 30+% increase every month, you don't even break out with the 3000$-1400GhS device.

of course that's assuming you won't be reselling the equipment after 3-4 monthsç

And if you expect bitcoin price to go above $1000 in a few months, you could get much better profit by buying bitcoin directly.

CroMiner
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May 31, 2014, 08:33:07 AM
 #24

Hi there,

I have free electricity and was thinking about to buy 3 x AntMiner S2 ( $4500-6900 ) which would give me 3 TH/s.
I was suprised with the result after I calculated the eventual ROI & profitability, becacuse there is none Smiley

The reason is, that the amount of dollars you pay today for 1 GH/s will not cut any ROI at all, because there is absolute no ROI on BTC mining with current prices for units like AntMiner S2 1TH/s for $ 2300 Miner & similar.

Once more I calculated this with NO ELECTRICITY COST at all, because I have FREE Electrycity !
My ordering date was JUNE 15, 2014 and MINER DELIVERY/MINING START date was July 1, 2014.
Start Mining diff. July 1 will be  20493 - Monthly Difficulty Increase of 40%

Keeping that in mind :
I think that anyone paying for any kind of MINING HARDWARE more than $0.40 per GH/s is not normal !

Example:

A Bitcoin Asic Miner can't be priced ABOVE 400 USD for 1 TH/s !!
Because anything above $0.40 / per GH/s will not bring a ROI..

All calculated using : https://tradeblock.com/mining

So now for the FUN part, Could someone tell me what I am missing here ??

I do not see any ASIC Bitcoin Miners even close to a $0.40 per GH/s price ratio.. Huh
All I can find is priced above $2per GH/s which IMHO is absolutely ridiculous !
tertius993
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May 31, 2014, 08:54:25 AM
 #25

and what about of these renting hardware services??

I think there are a number of reasons you might want to rent hardware:

1. new coin releases and you want to mine it without having your own hardware/re-assigning your own hardware

2. temporary additional hashrate

3. mining a new/different algorithm for which you don't own hardware

4. just for fun

E.g. I have powered down my own Scrypt miners and occasionally rent just for fun

However, I agree it is clear that the person renting it out is likely to make more than the renter.
snowcrawl
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May 31, 2014, 01:09:49 PM
 #26

The dream of making profit through mining is understandably appealling because it would require so little effort, beyond buying the mining equipment.  You simply collect bitcoin earnings without needing to lift a finger or stick your neck out.  But the opportunity to accomplish that is ever dwindling, maybe had your started much earlier?  The most dependable way to make profit is still to communicate and advertise what kind of work you are able to do, and then set out to provide that service or product which people will pay you for in bitcoins.
XScrypt
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May 31, 2014, 03:15:14 PM
 #27

Hi! Just got a photovoltaic system in my home and im thinking buying hardware for mining. I have some questions because im completely noob. i tried once to mine with my imac and i got something like 0,000001 btc in 4 hours. i gave up of course. now i want to invest around 1000€ in hardware. which hardware to get? and how much btc/24h (without considering electricity cost) i can min with such hardware? or maybe there are better cryptocurrencies to mine? thanks

Go to Betarigs. It is a better investment to rent hardware.

much luck:-)

Only if you can't do math. Check the prices on Betarigs vs. expected profit on CoinWarz.

LTC- LKdDXfJbCqMHpqTZwhaMKRE51eA7PPsCYy
Damianxz
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June 02, 2014, 10:29:23 AM
 #28

ok thanks to all for the answers. i give up with this mining! :-)
ChuckBuck
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June 02, 2014, 09:53:14 PM
 #29

ok thanks to all for the answers. i give up with this mining! :-)

Wisest decision you've ever made.  Just buy some coin and watch them rise in value like it's been doing.   Cheesy

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