ANTMINER S3+ Discussion and Support Thread

[philipma1957]

BTC rise in value is irrelevant when considering profit. If you purchase the unit WITH BTC, had you simply just saved the BTC, at the end of 3 years you would still have the same amount of BTC.

So if .58 BTC cost will return .58 BTC return over a term of 3 years, had you simply held and not purchased, you would still have .58 BTC.

And in 3 years, the Miner, and PSU, will be worth nothing.

Purchasing a S3+ at .58 BTC is 100% - Hands Down - Burning your Money. You are essentially buying a device that costs .58 BTC that will, factoring all the near impossibilities I listed, return .58 back.

It's a lose lose.

Strato

And that is why I said to do the calculation with different time frame. S3 will still have value in 1 year, just like S1 still has value today. If you sell the equipment when it still has value you can come out ahead. You would likely be able to re-use the PSU if you upgraded to newer equipment so no loss there.

I respectfully disagree. The S3+ will have no value in 1 year. Even with just a 10% difficulty increase per step; in 365 days the S3+ would return an average yield of 0.00066 BTC per day on 9/20/15 - IF your power cost was 0. If you paid anything over $0.02 kW/hr you would be mining at a loss.

Who would buy it?  

I don't see any value there.

Strato

 well if btc stays flat in usd then you are correct.  but if diff does 1 year in a row of 10% btc will go up in price.  if you can be sure of that growth rate and no one makes a better then .5 watt chip btc must go up in price.

[Stratobitz]

I respectfully disagree. The S3+ will have no value in 1 year. Even with just a 10% difficulty increase per step; in 365 days the S3+ would return an average yield of 0.00066 BTC per day on 9/20/15 - IF your power cost was 0. If you paid anything over $0.02 kW/hr you would be mining at a loss.

Who would buy it?  

I don't see any value there.

Strato

Please send me your worthless S3 next September. I'll even pay for shipping if you're in the US. Has to be in working condition.

If you pay the shipping

[Stratobitz]

The ROI with bitcoin purchases can depend on how you look at it. I purchased some S1s with bitcoins that I purchased at about $350. To keep the math simple, say the bitcoin value was $650 when I purchased an S1 at 1 BTC. Did the S1 cost me $350 or $650?

I feel that it only cost me $350 since that's what I paid for the 1 BTC.

For tax purposes, I'm using FIFO accounting similar to when opening and closing a stock "tax lot". But for tax purposes I'm not sure whether I should be taking a capital gain of $300 for when "I sold" the bitcoin and then claiming the S1 cost me $650.

Guess it depends on how the IRS treats. Will be fun at tax time.

You should look into whether or not you can qualify as a manufacturer in your jurisdiction. We had to take the issue to court with the state, but prevailed. Thus all digital products we produce are inventory; and there is no taxable event until the item which we manufactured is sold.

Our position, was that the definition of manufacturing (in our area) was "Usuing machines, manpower, materials, and or energy to create a new tangible item."  We argued that is exactly what we were doing.  Rearranging 1s and 0s and producing paper wallets.

Victory for us. We ended up landing a sales tax exemption, and manufacturing exemption.

Strato

interesting...where are you (in US)?

Yes

[chadbu]

If btc goes to $5,000 next august.

** Buy .58 btc and in a year you'll have .58 btc.

** Buy a S3+ and in a year you'll have .58 btc. And at that time the S3+ will produce a small amount of btc at a rate of $500 per 1 btc.
Multiplying btc price by ten is like dividing your electrical cost by 10. The day you have to turn off the s3, because electric cost more than it makes, could be 20 years if btc keeps doubling.    

If btc stays at $500, the S3+ will break even and the only profit is from the parts for a future s12 upgrade.

[Stratobitz]

If btc goes to $5,000 next august.

** Buy .58 btc and in a year you'll have .58 btc.

** Buy a S3+ and in a year you'll have .58 btc. And at that time the S3+ will produce a small amount of btc at a rate of $500 per 1 btc.
Multiplying btc price by ten is like dividing your electrical cost by 10. The day you have to turn off the s3, because electric cost more than it makes, could be 20 years if btc keeps doubling.    

If btc stays at $500, the S3+ will break even and the only profit is from the parts for a future s12 upgrade.

You are failing to factor in difficulty friend. BTC could be $5,000,000 each - but if the S3+ takes 10,000 years to mine one your power costs will far exceed any revenue produced.

[Biodom]

The ROI with bitcoin purchases can depend on how you look at it. I purchased some S1s with bitcoins that I purchased at about $350. To keep the math simple, say the bitcoin value was $650 when I purchased an S1 at 1 BTC. Did the S1 cost me $350 or $650?

I feel that it only cost me $350 since that's what I paid for the 1 BTC.

For tax purposes, I'm using FIFO accounting similar to when opening and closing a stock "tax lot". But for tax purposes I'm not sure whether I should be taking a capital gain of $300 for when "I sold" the bitcoin and then claiming the S1 cost me $650.

Guess it depends on how the IRS treats. Will be fun at tax time.

You should look into whether or not you can qualify as a manufacturer in your jurisdiction. We had to take the issue to court with the state, but prevailed. Thus all digital products we produce are inventory; and there is no taxable event until the item which we manufactured is sold.

Our position, was that the definition of manufacturing (in our area) was "Usuing machines, manpower, materials, and or energy to create a new tangible item."  We argued that is exactly what we were doing.  Rearranging 1s and 0s and producing paper wallets.

Victory for us. We ended up landing a sales tax exemption, and manufacturing exemption.

Strato

interesting...where are you (in US)?

Yes

state, man, is it a secret?

[SilentH]

anyone familiar with openwrt's implementation of opkg? apparently on the S3's "OPKG Update" isn't working.

When I run it i get the following:

Code:

root@LabS31:/# opkg update
Downloading http://downloads.openwrt.org/snapshots/trunk/ar71xx/packages/Packages.gz.
wget: server returned error: HTTP/1.1 404 Not Found
Collected errors:
 * opkg_download: Failed to download http://downloads.openwrt.org/snapshots/trunk/ar71xx/packages/Packages.gz, wget returned 1.

I checked the path at http://downloads.openwrt.org/snapshots/trunk/ar71xx/packages/ and Packages.gz does not exist.

Anyone have a clue how to resolve this?

[MissouriMiner]

I have 9 AntMiner S3's and they all stopped hashing about 30 minutes ago.  All were at the same temperature they've always been at, 40-44c.  No modifications.  No overclocking.  They've been running for days without issue.  The Miner Status page no longer shows the ASIC info, with all 3 sections empty.  Did I get hacked in some way?  What the heck is going on?  I'm obviously very distressed right now.

I'm not sure what system/kernel log info is relevant, but I see this entry below, which seems to be discovery OK, but disconnected.  I don't have a working S3 to compare logs.

Wed Aug 20 17:16:10 2014 kern.info kernel: [   22.970000] usb 1-1.1: USB disconnect, device number 3
Wed Aug 20 17:16:10 2014 kern.info kernel: [   22.970000] bitmainbl 1-1.1:1.0: USB Bitmain asic #0 now disconnected
Wed Aug 20 17:16:10 2014 kern.info kernel: [   23.270000] usb 1-1.1: new full-speed USB device number 4 using ehci-platform
Wed Aug 20 17:16:10 2014 kern.info kernel: [   23.540000] bitmain 1-1.1:1.0: USB Bitmain asic device now attached to USB Bitmain asic-0
Wed Aug 20 17:16:10 2014 kern.warn kernel: [   23.550000] PIC microchip usb OK
Wed Aug 20 17:16:11 2014 kern.info kernel: [   24.580000] bitmain 1-1.1:1.0: USB Bitmain asic #0 now disconnected

[suchmoon]

I have 9 AntMiner S3's and they all stopped hashing about 30 minutes ago.  All were at the same temperature they've always been at, 40-44c.  No modifications.  No overclocking.  They've been running for days without issue.  The Miner Status page no longer shows the ASIC info, with all 3 sections empty.  Did I get hacked in some way?  What the heck is going on?  I'm obviously very distressed right now.

I'm not sure what system/kernel log info is relevant, but I see this entry below, which seems to be discovery OK, but disconnected.  I don't have a working S3 to compare logs.

Wed Aug 20 17:16:10 2014 kern.info kernel: [   22.970000] usb 1-1.1: USB disconnect, device number 3
Wed Aug 20 17:16:10 2014 kern.info kernel: [   22.970000] bitmainbl 1-1.1:1.0: USB Bitmain asic #0 now disconnected
Wed Aug 20 17:16:10 2014 kern.info kernel: [   23.270000] usb 1-1.1: new full-speed USB device number 4 using ehci-platform
Wed Aug 20 17:16:10 2014 kern.info kernel: [   23.540000] bitmain 1-1.1:1.0: USB Bitmain asic device now attached to USB Bitmain asic-0
Wed Aug 20 17:16:10 2014 kern.warn kernel: [   23.550000] PIC microchip usb OK
Wed Aug 20 17:16:11 2014 kern.info kernel: [   24.580000] bitmain 1-1.1:1.0: USB Bitmain asic #0 now disconnected

Sorry for stating the obvious but did you try changing the pool settings? 9 miners can't all go defective at once, but if you use the same pool on all of them maybe the pool is dead.

[MissouriMiner]

I didn't know a pool issue would make the Chain/ASIC info go away on the Minus Status page, but I was obviously wrong, because they are coming back online.  The P2Pool I was using had an issue.  But why didn't it failover, etc... This was weird.  I've had pools stop responding before and never had them respond this way.   It was actually a routing and/or DNS issue.  Sorry for my crazy post.  I was having a miner panic attack...  Everything is fine now.  Yep, I feel like a dumb a$$...

[philipma1957]

don't use the same pool on the top line.

 I use 3 pools on 3 s-3's   all in different orders'  prevents the problem you had.


also protects against an intentional bad luck attack.  since the attacker would not attack 3 pools at the same time.

[Tripjammer]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

I am still trying to ROI on 3 hurricane x3's...but I am gonna hold in there...

Petamine is a dud...payouts are shit. Anybody know of any good sha256 cloud mining services that beat the price on a antminer s3 per gh/s?


The hashlets are so so...profits not as good as I hope but I might have them pointed to the wrong pool...

[philipma1957]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

I am still trying to ROI on 3 hurricane x3's...but I am gonna hold in there...

Petamine is a dud...payouts are shit. Anybody know of any good sha256 cloud mining services that beat the price on a antminer s3 per gh/s?


The hashlets are so so...profits not as good as I hope but I might have them pointed to the wrong pool...

I have 2

478gh  s=3's   on zenpool .

 I may sell you one at a good price. 

[Stratobitz]

I'll pay .60 each for anyone who wants to sell their B6 or B7 - but it would have to ship tomorrow.

[Tripjammer]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

I am still trying to ROI on 3 hurricane x3's...but I am gonna hold in there...

Petamine is a dud...payouts are shit. Anybody know of any good sha256 cloud mining services that beat the price on a antminer s3 per gh/s?


The hashlets are so so...profits not as good as I hope but I might have them pointed to the wrong pool...

I have 2

478gh  s=3's   on zenpool .

 I may sell you one at a good price. 

I am don't have any more power to add hardware...I am going cloud for now on until bitmain releases something cheap and good with low power like say 1 th/s with 400 watts of power for $350...maybe next year?

[Fahlcor]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

I am still trying to ROI on 3 hurricane x3's...but I am gonna hold in there...

Petamine is a dud...payouts are shit. Anybody know of any good sha256 cloud mining services that beat the price on a antminer s3 per gh/s?


The hashlets are so so...profits not as good as I hope but I might have them pointed to the wrong pool...

 I Know i will get flamed but I like Nicehash.  They are paying 0.0279 at the moment which is over the .021 my calc does /thash.  All I do is set the password to p=0.025 and if they have work that pays more than that amount it lets my miners connect and I get the higher paying workloads.  Otherwise I just mine on ghash.

Just how i roll

Fahlcor

[philipma1957]

I'll pay .60 each for anyone who wants to sell their B6 or B7 - but it would have to ship tomorrow.

.60 is too low .

 I sold 2 for .65 they ship on tues  the 26th.


 if you order an in hand miner that will do 231 freq it is a premium of more then .2btc over one that ships on sept 20th


 So .65 is closer to the correct price not .6

[RoadStress]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

The last line contradicts itself by my opinion and helps me to prove my point that after ROI the S3s will be useless.

[Blazed]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

The last line contradicts itself by my opinion and helps me to prove my point that after ROI the S3s will be useless.

How will those group buy SP 30's do ROI wise?  I have not run the numbers, but with the specs off by a bit wondering if you will profit?

[edonkey]

I almost at breaking even point on ROI on 4 antminer s3! Bitmain u rock!

It's all gravy from September 2014 and onwards! This was the best purchase of mining hardware that I ever done!

I am still trying to ROI on 3 hurricane x3's...but I am gonna hold in there...

Petamine is a dud...payouts are shit. Anybody know of any good sha256 cloud mining services that beat the price on a antminer s3 per gh/s?


The hashlets are so so...profits not as good as I hope but I might have them pointed to the wrong pool...

 I Know i will get flamed but I like Nicehash.  They are paying 0.0279 at the moment which is over the .021 my calc does /thash.  All I do is set the password to p=0.025 and if they have work that pays more than that amount it lets my miners connect and I get the higher paying workloads.  Otherwise I just mine on ghash.

Just how i roll

Fahlcor

Enough with the Nicehash spam already!

If you have nothing to contribute but advertisements, I'm going to banish you with the Ignore link.