Gordon_Freeman (OP)
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August 08, 2014, 11:34:25 PM |
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Hello all So today I came across this ad Bitmain Bitcoin Mining Unit ASIC Antminer S1 180-200GH 360-400W for $120 and it got me thinking. I've got an old power supply lying around, and I could fire this thing up in my office where electricity is included in rent. My entire startup cost would be the price of the mining unit. Now before I go through with this, I have a few questions: Is this a good price for this kind of unit? How much bandwidth would this thing use per month? I think I have like 60 GB/month or something, would I have to change my plan? The "million-dollar" question: would setting one of these up with 0 electricity costs be profitable, or at least earn me some kind of return in BTC over a few months? I appreciate any and all feedback. |
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"Governments are good at cutting off the heads of a centrally
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cloverme
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SpacePirate.io
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August 08, 2014, 11:48:52 PM |
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Mining uses almost no bandwidth, it's all power my friend... So you're going to make about $1.80 a day ($2.80 if you don't pay for power), you'll get your investment back in about 200-300 days (due to difficulty increases) if the price of BTC stays about the same, the higher the price of BTC, the faster you ROI.
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Bitsaurus
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August 09, 2014, 12:04:14 AM |
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You would need to have a PSU laying around to power it, but I assume you have one.
The biggest issue would be the heat and the noise. It would put out around 300-400W of heat and is known to be on the noisy side, so you can't just hide it in some corner out of mind.
$120 is probably a bit overpriced, $90-$100 would be more reasonable since you probably won't make back $120 for at least 6 months.
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cloverme
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SpacePirate.io
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August 09, 2014, 12:42:34 AM |
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You would need to have a PSU laying around to power it, but I assume you have one.
The biggest issue would be the heat and the noise. It would put out around 300-400W of heat and is known to be on the noisy side, so you can't just hide it in some corner out of mind.
$120 is probably a bit overpriced, $90-$100 would be more reasonable since you probably won't make back $120 for at least 6 months.
Hahahha that's funny, I didn't think about him hiding it under a desk. That's a total Costanza move if there ever was one.... "What's that noise and why is it so hot in here?" |
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Gordon_Freeman (OP)
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August 09, 2014, 12:38:35 PM |
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Wow I totally did not even consider the noise. I just youtubed it and man those things are loud. Fuck, the noise alone can ruin this whole plan, there's more than just me in this office and it's occupied pretty much 24/7.
Thanks for your input!
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Gordon_Freeman (OP)
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August 09, 2014, 12:54:44 PM |
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Bitsaurus
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August 09, 2014, 09:37:28 PM |
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The S3 is considerably quiter than the S1, but it still won't be as silent as a computer. You will still know it's in the room - you just won't have to walk out to take a phonecall  I hear Bitfury gear is pretty quiet since it's pretty efficient gear and has nice cooling. |
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xstr8guy
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August 09, 2014, 10:01:23 PM |
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Good lord! Where'd you find that fucked up link? Whatever you do, do NOT buy from such a scammy looking site. Bitmaintech.com is the real seller. There are some other trusted resellers but certainly not kijiji whatever the hell that is. |
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Gordon_Freeman (OP)
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August 10, 2014, 07:12:28 PM |
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Good lord! Where'd you find that fucked up link? Whatever you do, do NOT buy from such a scammy looking site. Bitmaintech.com is the real seller. There are some other trusted resellers but certainly not kijiji whatever the hell that is. Dude, Kijiji is just a classifieds site popular here in Canada. I would have the guy send me pics of the unit and boxes and all that to make sure it's legit. But now I'm thinking I would just order them straight from Bitmain because at BTC.68 they are much cheaper. |
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xstr8guy
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August 10, 2014, 08:01:15 PM |
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Good lord! Where'd you find that fucked up link? Whatever you do, do NOT buy from such a scammy looking site. Bitmaintech.com is the real seller. There are some other trusted resellers but certainly not kijiji whatever the hell that is. Dude, Kijiji is just a classifieds site popular here in Canada. I would have the guy send me pics of the unit and boxes and all that to make sure it's legit. But now I'm thinking I would just order them straight from Bitmain because at BTC.68 they are much cheaper. Lol, sorry! I've never heard of Kijiji... And neither has my iphone spell check. |
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gallery2000
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August 15, 2014, 06:59:03 PM |
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Kijiji got its name from the Goddess of Kiss. Good lord! Where'd you find that fucked up link? Whatever you do, do NOT buy from such a scammy looking site. Bitmaintech.com is the real seller. There are some other trusted resellers but certainly not kijiji whatever the hell that is. Dude, Kijiji is just a classifieds site popular here in Canada. I would have the guy send me pics of the unit and boxes and all that to make sure it's legit. But now I'm thinking I would just order them straight from Bitmain because at BTC.68 they are much cheaper. Lol, sorry! I've never heard of Kijiji... And neither has my iphone spell check. |
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QuiveringGibbage
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August 16, 2014, 01:19:11 AM |
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The "million-dollar" question: would setting one of these up with 0 electricity costs be profitable, or at least earn me some kind of return in BTC over a few months?
Considerations for a mining op. Power availability, cost of power, h/w maintenance and Security. All of which can be out sourced, see thread H/w Hosting Directory & Reputation ( https://bitcointalk.org/index.php?topic=622998.0) To make any significant returns on investment will require scale. Mining with your office's electricity is sealing. No one gets free electricity. Cheers, QG |
Bitcoin is at the tippity top of the mountain...but it's really only half way up..  |
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xstr8guy
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August 16, 2014, 08:08:46 AM |
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Kijiji got its name from the Goddess of Kiss.
I thought Paul Stanley was the goddess of Kiss.  |
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ScryptAsic
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August 16, 2014, 09:48:36 AM |
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Hello all So today I came across this ad Bitmain Bitcoin Mining Unit ASIC Antminer S1 180-200GH 360-400W for $120 and it got me thinking. I've got an old power supply lying around, and I could fire this thing up in my office where electricity is included in rent. My entire startup cost would be the price of the mining unit. Now before I go through with this, I have a few questions: Is this a good price for this kind of unit? How much bandwidth would this thing use per month? I think I have like 60 GB/month or something, would I have to change my plan? The "million-dollar" question: would setting one of these up with 0 electricity costs be profitable, or at least earn me some kind of return in BTC over a few months? I appreciate any and all feedback. You are better off buying antminer S3 because it is giving higher hash rate and less heat. Although you have free electricity but still S3 please  |
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bozo333
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CryptoTalk.Org - Get Paid for every Post!
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August 16, 2014, 01:13:48 PM |
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I have calculated mining through several times, the truth of the matter is this:
You can't recoup your hardware investment (w/o electricity) in 3-4 months you will either never break even, or, after you do your power costs will eat up most of your coins by then because you will be making a mere fraction of what you made in the beginning due to diff increase. Remember, last year avg. was 14% increase every 12-14 days. Thats the power of compounding.... I have seen plenty of guys fooling themselves by using calculations where they just use one diff. increase per month...
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