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jonnybravo0311
Legendary
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Activity: 1344
Merit: 1023
Mine at Jonny's Pool
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August 14, 2014, 04:19:53 PM
Last edit: August 14, 2014, 07:05:46 PM by jonnybravo0311 |
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I already sold off my S1s and upgraded with S3s directly, so I won't be purchasing the upgrade kits. I'm glad I did, 9/20 is a long ways off. One thing I'd like to add here is that the upgrade kit really doesn't make sense. Here's why: Your S1 is already getting you 180GH/s (or 200GH/s if you've over clocked it). The upgrade kit effectively turns your S1 into an S3. You gain 273GH/s - 304GH/s (base clocks to both over clocked). So, is ~275GH/s worth 0.46 BTC (by the way, the MOQ on the upgrade kits is 2, so you're looking at 0.92 BTC). |
Jonny's Pool - Mine with us and help us grow! Support a pool that supports Bitcoin, not a hardware manufacturer's pockets! No SPV cheats. No empty blocks.
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Bitsaurus
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August 14, 2014, 09:08:30 PM |
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None of Bitmain product offerings make sense considering the difficulty will be up 50% (1.25x1.25?) by Sept 20 ship date. The S3 upgrade is basically saving you a little money by reusing the shell from the S1. It would make more sense to sell the S1 and just buy a S3+ but even that is way overpriced for Sept 20 ship date.
Bitmain doing preorders Oh God
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Lucky7Gaming (OP)
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Activity: 87
Merit: 10
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August 14, 2014, 09:11:41 PM |
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None of Bitmain product offerings make sense considering the difficulty will be up 50% (1.25x1.25?) by Sept 20 ship date. The S3 upgrade is basically saving you a little money by reusing the shell from the S1. It would make more sense to sell the S1 and just buy a S3+ but even that is way overpriced for Sept 20 ship date.
Bitmain doing preorders Oh God
September 20 is so long away and difficulty is going up exponentially....I agree. Not worth it |
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Lucky7Gaming (OP)
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Activity: 87
Merit: 10
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August 14, 2014, 09:12:57 PM |
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I already sold off my S1s and upgraded with S3s directly, so I won't be purchasing the upgrade kits. I'm glad I did, 9/20 is a long ways off. One thing I'd like to add here is that the upgrade kit really doesn't make sense. Here's why: Your S1 is already getting you 180GH/s (or 200GH/s if you've over clocked it). The upgrade kit effectively turns your S1 into an S3. You gain 273GH/s - 304GH/s (base clocks to both over clocked). So, is ~275GH/s worth 0.46 BTC (by the way, the MOQ on the upgrade kits is 2, so you're looking at 0.92 BTC). It is much more efficient per watt too....... |
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jonnybravo0311
Legendary
Offline
Activity: 1344
Merit: 1023
Mine at Jonny's Pool
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August 14, 2014, 10:32:57 PM |
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I already sold off my S1s and upgraded with S3s directly, so I won't be purchasing the upgrade kits. I'm glad I did, 9/20 is a long ways off. One thing I'd like to add here is that the upgrade kit really doesn't make sense. Here's why: Your S1 is already getting you 180GH/s (or 200GH/s if you've over clocked it). The upgrade kit effectively turns your S1 into an S3. You gain 273GH/s - 304GH/s (base clocks to both over clocked). So, is ~275GH/s worth 0.46 BTC (by the way, the MOQ on the upgrade kits is 2, so you're looking at 0.92 BTC). It is much more efficient per watt too....... That goes without saying... the S1 is 2W per GH/s, the S3 (and the upgraded S1) are 0.78W per GH/s. I think my main point was that with a ship date of 9/20, neither the S1 or the S3 make a lot of sense. I got in with the early batches (1, 4, 5), so by the time the S3+ comes out, my S3s will have been mining for a couple months. |
Jonny's Pool - Mine with us and help us grow! Support a pool that supports Bitcoin, not a hardware manufacturer's pockets! No SPV cheats. No empty blocks.
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Lucky7Gaming (OP)
Member
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Activity: 87
Merit: 10
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August 14, 2014, 10:34:18 PM |
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I already sold off my S1s and upgraded with S3s directly, so I won't be purchasing the upgrade kits. I'm glad I did, 9/20 is a long ways off. One thing I'd like to add here is that the upgrade kit really doesn't make sense. Here's why: Your S1 is already getting you 180GH/s (or 200GH/s if you've over clocked it). The upgrade kit effectively turns your S1 into an S3. You gain 273GH/s - 304GH/s (base clocks to both over clocked). So, is ~275GH/s worth 0.46 BTC (by the way, the MOQ on the upgrade kits is 2, so you're looking at 0.92 BTC). It is much more efficient per watt too....... That goes without saying... the S1 is 2W per GH/s, the S3 (and the upgraded S1) are 0.78W per GH/s. I think my main point was that with a ship date of 9/20, neither the S1 or the S3 make a lot of sense. I got in with the early batches (1, 4, 5), so by the time the S3+ comes out, my S3s will have been mining for a couple months. Yeah....the early adopters won out, and the later batches have too small of a discount to win. |
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cozk
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August 15, 2014, 12:20:09 AM |
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not worth it.
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timk225
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August 15, 2014, 08:00:15 PM |
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They state that the kit is NONREFUNDABLE AFTER PURCHASE. Why? What are they hiding? The fact they they are a nonreputable company who only wants your money? They take your money, and say thank you and screw off now and never call us again?
DO NOT BUY AN ASIC! I keep telling you idiots and you never learn!!!
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Lucky7Gaming (OP)
Member
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Activity: 87
Merit: 10
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August 15, 2014, 08:19:35 PM |
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They state that the kit is NONREFUNDABLE AFTER PURCHASE. Why? What are they hiding? The fact they they are a nonreputable company who only wants your money? They take your money, and say thank you and screw off now and never call us again?
DO NOT BUY AN ASIC! I keep telling you idiots and you never learn!!!
Lol yeah....but GPUs are not making anything right now right? |
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Houseman
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Activity: 156
Merit: 10
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August 16, 2014, 12:23:45 AM |
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They state that the kit is NONREFUNDABLE AFTER PURCHASE. Why? What are they hiding? The fact they they are a nonreputable company who only wants your money? They take your money, and say thank you and screw off now and never call us again?
DO NOT BUY AN ASIC! I keep telling you idiots and you never learn!!!
Bitmaintech have always delivered. This upgrade kit is hash boards and fixings to diy your S1 chassis to S3 like performance. Probably non refundable because potential for damage quite high when diy'ing the bits and bobs together. |
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timk225
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August 16, 2014, 01:44:42 AM |
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GPUs have a life beyond mining. Even 7950's are still very good GPUs. ASICs become useless.
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whitemage
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August 16, 2014, 06:03:24 AM |
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The upgrade kit is only good if it can deliver immediately or soon. 1 month is really too long. Better to just buy S3..
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Bitsaurus
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August 16, 2014, 07:19:55 AM |
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The upgrade kit is only good if it can deliver immediately or soon. 1 month is really too long. Better to just buy S3..
S3 is now overpriced because of the 1 month delay. Better to buy some S1s secondhand from somebody who has expensive power rates and undervolt them (of course this is for people with cheap power as nobody can run them profitably at stock in about 4 days). |
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Bitsaurus
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August 16, 2014, 07:49:51 PM |
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That's a decent price for the GH/s/$ but the power usage is double that of an S3. That means it will make money up front for the first 3 -4 months and then have an early retirement compared to something that is a lot more efficient. Bitfury gear is still able to run due to it's great efficiency. Unless you have really cheap power always go for higher efficiency, especially when it's double as in this case. |
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JohanM
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Activity: 137
Merit: 35
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August 19, 2014, 09:27:31 PM |
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It was almost never profitable to mine bitcoins when compared to electricity costs. When we were mining with CPU, the electricity bill was 100x more expensive that the coins we won. Same when the GPU mining started, 100x more expensive. Of course afterwards when the bitcoin price rose many many times, it was profitable  Same as now, it you calculate your mining costs with a bitcoin price of 500, you're not going to have a positive ROI. But if you hope for bitcoin price of 3, 5 or 15 thousand, the numbers look really different. As for the kits, no i'm undervolting (10k pot mod) my S1's to add to their lifespan. If you can get defective S1's for free, that would be a good option. |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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August 19, 2014, 09:51:19 PM |
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It was almost never profitable to mine bitcoins when compared to electricity costs.
When we were mining with CPU, the electricity bill was 100x more expensive that the coins we won.Same when the GPU mining started, 100x more expensive. Of course afterwards when the bitcoin price rose many many times, it was profitable Same as now, it you calculate your mining costs with a bitcoin price of 500, you're not going to have a positive ROI. But if you hope for bitcoin price of 3, 5 or 15 thousand, the numbers look really different. As for the kits, no i'm undervolting (10k pot mod) my S1's to add to their lifespan. If you can get defective S1's for free, that would be a good option. First of all that is outright false. If you were CPU mining with electricity 100x the profit, maybe you should have upgraded that 486-DX2  . Same with GPU mining. Unless you were paying on the order of $30 per KWH (and this is coming from somebody paying $0.35/KWH at home). If electricity costs more than you earn, IT ALWAYS MAKES MORE SENSE TO BUY the coin outright. ALWAYS. The only reason to mine at that point is to support the network or get newly minted coins by solo mining. |
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bmoscato
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August 19, 2014, 09:52:12 PM |
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Can the old boards be utilized as well?
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DrG
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Activity: 2086
Merit: 1035
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August 19, 2014, 09:54:55 PM |
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Can the old boards be utilized as well?
The old boards are the part that is being replaced because they are inefficient. You can undervolt them to get a little more life out of them and that's why the upgrade kit is considered a bad idea. |
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bmoscato
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August 19, 2014, 10:29:41 PM |
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Can the old boards be utilized as well?
The old boards are the part that is being replaced because they are inefficient. You can undervolt them to get a little more life out of them and that's why the upgrade kit is considered a bad idea. I was just asking since I have 4 S1's and wondered if I could repurpose them. I'm really not worried about the cost of power... Solar on the house. |
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