Bitcoin Forum
December 15, 2018, 05:47:33 PM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Antminer S1 My first rig  (Read 2449 times)
LongIslandCoin
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 21, 2014, 01:06:04 PM
 #1

Hey guys, I'm new to this forum, and to bitcoin mining.

I order an Antminer S1 to set-up just so I can gain some more experience with mining, didn't want to spend a lot of money and end up screwing something up.

I paid $117 for the unit. I also bought the WiFi adapter kit because I don't plan on having my unit right next to the router, that cost $10. And finally a Corsair 430x as my PSU for $20. That means I've invested $147, don't worry I'm keeping track of all of this on an Excel spreadsheet.

According to my calculations, I should break even in about 3 months based on the current value of bitcoin as well as the cost of electricity. Of course those factors are not fixed and are variable, which is why it is virtually impossible for me to predict a time period to break even. Also if my machine stops functioning that would be a variable factor.

The reason I'm posting this is to ask if there's any advice? I plan on joining a mining pool and am not sure which one would be the best for me.

Thanks! Smiley
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1544896053
Hero Member
*
Offline Offline

Posts: 1544896053

View Profile Personal Message (Offline)

Ignore
1544896053
Reply with quote  #2

1544896053
Report to moderator
1544896053
Hero Member
*
Offline Offline

Posts: 1544896053

View Profile Personal Message (Offline)

Ignore
1544896053
Reply with quote  #2

1544896053
Report to moderator
spazzdla
Legendary
*
Offline Offline

Activity: 1554
Merit: 1000


View Profile
August 21, 2014, 01:07:58 PM
 #2

I'm on slushies, I like it.
bmoscato
Sr. Member
****
Offline Offline

Activity: 257
Merit: 250


View Profile
August 21, 2014, 06:25:45 PM
 #3

Slush "https://mining.bitcoin.cz" is good, I use it as my failover pool now. I pretty much have my miners pointed at CEX.io now.

Where on the island are you? I'm in Massapequa.
LongIslandCoin
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 21, 2014, 06:50:31 PM
 #4

Slush "https://mining.bitcoin.cz" is good, I use it as my failover pool now. I pretty much have my miners pointed at CEX.io now.

Where on the island are you? I'm in Massapequa.

I'm on the opposite shore as you, I'm in Huntington. Have you ever been to Zim Zari? They have great food, haha
bmoscato
Sr. Member
****
Offline Offline

Activity: 257
Merit: 250


View Profile
August 21, 2014, 07:02:31 PM
 #5

Slush "https://mining.bitcoin.cz" is good, I use it as my failover pool now. I pretty much have my miners pointed at CEX.io now.

Where on the island are you? I'm in Massapequa.

I'm on the opposite shore as you, I'm in Huntington. Have you ever been to Zim Zari? They have great good, haha

Yeah, I live right by there.
LongIslandCoin
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 21, 2014, 07:06:38 PM
 #6

Slush "https://mining.bitcoin.cz" is good, I use it as my failover pool now. I pretty much have my miners pointed at CEX.io now.

Where on the island are you? I'm in Massapequa.

I'm on the opposite shore as you, I'm in Huntington. Have you ever been to Zim Zari? They have great good, haha

Yeah, I live right by there.

Whitewood Drive by any chance? Buddy of mine used to live there?
Weiked
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
August 23, 2014, 02:01:05 PM
 #7

I live in brooklyn Smiley. Did you hear about the law they are passing in new york for bit coin?
LongIslandCoin
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 23, 2014, 06:31:43 PM
 #8

Another New Yorker, no what is the law?
srgkrgkj
Legendary
*
Offline Offline

Activity: 1204
Merit: 1000



View Profile
August 25, 2014, 03:13:08 PM
 #9

Good luck on your mining ventures Cheesy

fr4nkthetank
Legendary
*
Offline Offline

Activity: 1568
Merit: 1015


Now the money is free, and so the people will be


View Profile WWW
August 25, 2014, 03:35:53 PM
 #10

Hey guys, I'm new to this forum, and to bitcoin mining.

I order an Antminer S1 to set-up just so I can gain some more experience with mining, didn't want to spend a lot of money and end up screwing something up.

I paid $117 for the unit. I also bought the WiFi adapter kit because I don't plan on having my unit right next to the router, that cost $10. And finally a Corsair 430x as my PSU for $20. That means I've invested $147, don't worry I'm keeping track of all of this on an Excel spreadsheet.

According to my calculations, I should break even in about 3 months based on the current value of bitcoin as well as the cost of electricity. Of course those factors are not fixed and are variable, which is why it is virtually impossible for me to predict a time period to break even. Also if my machine stops functioning that would be a variable factor.

The reason I'm posting this is to ask if there's any advice? I plan on joining a mining pool and am not sure which one would be the best for me.

Thanks! Smiley

Also you can check out Sha-256 altcoins too!  such as DEM, FFC, etc, etc.  You can also check out btcguild and maybe rent your rig on betarigs.  Much options wow!

TheFrank
finlof
Hero Member
*****
Offline Offline

Activity: 630
Merit: 500


View Profile
August 25, 2014, 04:43:08 PM
 #11

you definitely want to have at least 1 backup pool.  make sure you are regularly withdrawing your btc to a secure wallet (are you using an online wallet now?)
cointalent
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile WWW
August 25, 2014, 11:42:19 PM
 #12

I've heard a lot of ppl complain that they are either breaking even or losing money mining with inexpensive rigs...can you really generate a profit with an Antminer S1 or is it more just mining for the sake of mining?

Hope this doesn't come off as being negative, I'd just be very interested to know given what I've heard from other miners.
guitarplinker
Legendary
*
Offline Offline

Activity: 1582
Merit: 1000



View Profile WWW
August 26, 2014, 02:08:44 AM
 #13

If you can get miners for a good price and have cheap electricity there's a very good chance of breaking even.

I personally have bought a few S1's in the past few days; a single one and PSU for $110 cash, and then 2 more for 0.25 BTC total. I have to pay for power, but I'm hoping that because I paid lower prices than what they tend to be going for now, that I'll be breaking even in a few months. Worst case, I lose $20-$30 total in the end, but I can afford losing that. Hopefully that doesn't happen though.
Katarina
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
August 26, 2014, 07:59:35 AM
 #14

Don't buy s1, its efficiently is really bad. Even if you have free electricity you should go with more s3.
TimeWatch
Member
**
Offline Offline

Activity: 83
Merit: 10


View Profile
August 26, 2014, 08:41:14 AM
 #15

Don't buy s1, its efficiently is really bad. Even if you have free electricity you should go with more s3.
Startups are always much harder,wish you a luck on mining your first bitcoin.Trust me it's a true happiness when you see BTC coming onto your wallet
finlof
Hero Member
*****
Offline Offline

Activity: 630
Merit: 500


View Profile
August 26, 2014, 02:49:14 PM
 #16

Don't buy s1, its efficiently is really bad. Even if you have free electricity you should go with more s3.

if you can get it for a 1/3 or 1/4 the price of an S3 then it's probably worth it, as long as you 1) have the electricity and 2) dont mind the extra heat and 3) have cheap PS's.  plus you cant get S3's right now so you get to mine for another 3 - 4 weeks before you would get an S3.
nwfella
Legendary
*
Offline Offline

Activity: 1470
Merit: 1000


btc tips: 1NPQP9Z4Ju6rTnH4uR6986kGVnEkpyYFJZ


View Profile
August 27, 2014, 08:20:42 AM
 #17

Antminer S1's great rig's to start off with imho.  As far as pools go, ghash.io/cex.io is certainly reliable enough, Slush rocks as well.  Perhaps go with some sort of sha-256 multipool for your tertiary pool.  multipool.us, or nicehash perhaps.  Several other good ones to choose from as well.  Welcome to the mining game, be warned it's definitely what you might call "habit forming" Wink

LTC: LcTpDxXjVKkjbSHqPkhDVGaqauiD81snhD
ZEC: t1Jd1615qcMq1FQeXPdm1zvjVvnEMAamLNC
ETC: 0xea55ce08f8558c87dc85d4f3c3ebdf2afebbbe32
LongIslandCoin
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 27, 2014, 12:47:59 PM
 #18

The reason I went with the S1 is just to figure out all of this mining stuff and works out the kinks, after I get familiar I'm going to invest in a very high end machine.
Radelderth
Full Member
***
Offline Offline

Activity: 200
Merit: 100


View Profile
August 29, 2014, 07:47:41 AM
 #19

The reason I went with the S1 is just to figure out all of this mining stuff and works out the kinks, after I get familiar I'm going to invest in a very high end machine.

Make sure you calculate well before investing, none of the asic right now is profitable.

pokeyjones
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250


View Profile
August 30, 2014, 02:18:07 AM
 #20

The reason I went with the S1 is just to figure out all of this mining stuff and works out the kinks, after I get familiar I'm going to invest in a very high end machine.

You'll get plenty of folks that pop in with shitty grammar partially explaining why you are an idiot and why you should've done ______ and not done _____ and instead do ______.

Same boat, got into it to learn. And learn I have! I'm sitting on a ton of gear and tho I've lost money and am losing money, you cannot put a price on what I've learned. I've always wanted to just have computers work. I don't want to log in, configure, find IPs, reset... any of that shit. Just fucking work. And I've now learned quite a bit and gotten deeper into the problems when typically I'd find someone smarter than I with a background and ask for their help.

Presently, partially from home, and partially from a friend's, currently running over 2 THs with S1s. Be careful with your PSU choice, yours is on the very low side. Good luck and have fun!

After getting things running, spent today setting this up http://i.imgur.com/WCdFOwQ.jpg
I think it is somewhat clever, there is a Honeywell TurboForce fan **underneath** the stand blowing up through the miners and PSU's. Enjoyed the work.

have fun!
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!