Bitcoin mining - Profitable at $0.40 per GH/s

[CroMiner]

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  

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..
All I can find is priced above $2per GH/s which IMHO is absolutely ridiculous !

[Mobius7]

The difficulty has been increasing rapidly since early 2013, because we have been switching from GPU to new inefficient ASIC to efficient ASIC now.
Current generation of ASIC are already in 28nm, and the efficiency improvement will be much harder and less significant in the future.
So, eventually at some point, the difficulty won't be able to keep increasing at ~15% every 12 days exponentially.

[CroMiner]

Sure we all looking forward to that day..But that will not happen in the next 2-3 Years, at least..So for now, I need to be sure to NOT make a mistake and calculate something super optimistic like a 15% monthly increase, because a 40-50% one sounds more realistic for 2014. Maybe next Year we will go down to 30 %
In my oppinion, its more profitable to mine Bitcoin now because of the difficulty increase which is still lower of Scrypt Asic..

If You can FIND a unit that sells for $0.40 per GH/s !

[shields]

What you're missing here is that your default assumption was that buying a miner would be profitable. Few seem to consider that it's completely possible, and perhaps expected that no miner will make a profit. There are more and more miners competing for the same 3600 coins produced every day, and when any of them build or order a miner they do not know what total hashrate it will be competing with over it's lifespan.

[Mobius7]

If You can FIND a unit that sells for $0.40 per GH/s !

Very true lol, and that's why I won't suggest anyone to buy any sha256 ASIC now.

[jimmy2k]

Hey guys,

I would check out https://cloudmining.guru/wp/ for a comprehensive review of cloud mining sites!