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Author Topic: Why Mine ?  (Read 2555 times)
DrG
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September 08, 2014, 06:15:51 PM
 #21

mining for small miners is bad !
only big miners are getting profits, like manufatureres and stuff.
Not true. I've seen a lot of people who profited from "small" mining, even recently.


Care to point to a single post?

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September 08, 2014, 08:58:18 PM
 #22

You can mine if you dont pay the elettricity.

If you pay you must find a profitable cloudmine service.

Or maybe just bought some crypto and wait (and hope)  Tongue
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September 09, 2014, 12:27:05 AM
 #23

You can mine if you dont pay the elettricity.

If you pay you must find a profitable cloudmine service.

Or maybe just bought some crypto and wait (and hope)  Tongue

If you "dont pay for elettricity" you will still lose money buying any miner right now.  The best pricing figuring in ship times right now is still the S3 and it won't be able mine back the initial cost even with modest 12% increases.

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September 09, 2014, 12:37:43 AM
 #24

There have been arguments about ROI since I got into Bitcoin.  I'm glad I didn't listen when I bought my first GPU miner back in 2011, and I'll be damned if I'm going to start listening now.  That being said, buying and holding BTC has always been a better strategy.  I suspect that profitability will continue squeezing the Chinese manufacturers who have been mining with their newly created equipment and selling coins instantly to profit.  That is why hashnest is now teaming up with Bitmain to stick those buying cloudhashing (bagholders) with the eventual scenario shutting down rigs and tossing them in the trash.  Once that happens and all the cloud hashers get burned, the BTC price will probably see a massive increase and those who were able to mine and hold through the dust settling will be rewarded handsomely as difficulty stalls and their mining revenue grows considerably in fiat terms.

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bitgeek
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September 10, 2014, 10:43:57 AM
 #25

mining for small miners is bad !
only big miners are getting profits, like manufatureres and stuff.
Not true. I've seen a lot of people who profited from "small" mining, even recently.


Care to point to a single post?
https://bitcointalk.org/index.php?action=profile;u=64507
I remember this guy saying it, don't have the time to go through his posts now, but you can just ask him. He had multiple ROI tracking threads.
As I recall, he used gridseed blades, s3 and GAW hashlets.


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DrG
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September 10, 2014, 07:58:14 PM
 #26

mining for small miners is bad !
only big miners are getting profits, like manufatureres and stuff.
Not true. I've seen a lot of people who profited from "small" mining, even recently.


Care to point to a single post?
https://bitcointalk.org/index.php?action=profile;u=64507
I remember this guy saying it, don't have the time to go through his posts now, but you can just ask him. He had multiple ROI tracking threads.
As I recall, he used gridseed blades, s3 and GAW hashlets.

Yes I know scrypt was profitable if you got an ASIC early on.  I was considering it but didn't feel like playing the BFL roulette game and hoping my company was the "Avalon".

I'm talking about Bitcoin SHA-256 based ASICs.  S1s apparently did make BTC ROI for many people as Bitmain priced them too low (that's what they're thinking).  The S3 was not priced like the S1 and yet people still bought them.   I bought a few S3s out of curiosity - they're much nicer than my BFL Singles from last year.

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eoakland
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September 10, 2014, 09:42:28 PM
 #27

not sure if s1 was priced low.  it was going for $2-3k initially.  hell it was over 3btc when value was 1K.  i agree, s3 has a sleek design, more thought into this miner.  it looks finished, unlike the s1 which looked like a prototype.  BFL did have an awesome design too, i think all their engineering went into aesthetics, the internals were blowing up all over the place, poor soldering, poor components placements (components and metal touch each other). 

cloud mining looks to be the natural transition for the small-time miners (such as myself).

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DrG
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September 12, 2014, 12:51:39 AM
 #28

not sure if s1 was priced low.  it was going for $2-3k initially.  hell it was over 3btc when value was 1K.  i agree, s3 has a sleek design, more thought into this miner.  it looks finished, unlike the s1 which looked like a prototype.  BFL did have an awesome design too, i think all their engineering went into aesthetics, the internals were blowing up all over the place, poor soldering, poor components placements (components and metal touch each other). 

cloud mining looks to be the natural transition for the small-time miners (such as myself).

I never bought any Bitmain products prior to my S3 and I was so enraged over BFL's handling of the Singles that I decided to sit out of the race.  Several people have reported that their S1s were able to BTC ROI.  Even if they cost $3k back then which would be 3BTC, if they mined 4BTC you still came out ahead.  Very few ASICs actually has positive BTC ROI.

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September 12, 2014, 03:05:51 AM
 #29

not sure if s1 was priced low.  it was going for $2-3k initially.  hell it was over 3btc when value was 1K.  i agree, s3 has a sleek design, more thought into this miner.  it looks finished, unlike the s1 which looked like a prototype.  BFL did have an awesome design too, i think all their engineering went into aesthetics, the internals were blowing up all over the place, poor soldering, poor components placements (components and metal touch each other). 

cloud mining looks to be the natural transition for the small-time miners (such as myself).

I never bought any Bitmain products prior to my S3 and I was so enraged over BFL's handling of the Singles that I decided to sit out of the race.  Several people have reported that their S1s were able to BTC ROI.  Even if they cost $3k back then which would be 3BTC, if they mined 4BTC you still came out ahead.  Very few ASICs actually has positive BTC ROI.

i had a few of the S1's, i can say that i made a ROI and then a little more.  with all HW, the whole thing is timing, get in and sell before it loses too much value.   yeah, BFL did everyone dirty.  I don't know 1 person that has been happy how he was treated by BFL--when ordering a product directly from them.  all the poor folks that ordered monarchs got shafted with no lube.  they paid 3-4k and are getting a miner a year after it was promised.  who the F is going to pay $2k for 600 or 700 gh/s now ? 

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September 14, 2014, 11:48:42 AM
 #30

not sure if s1 was priced low.  it was going for $2-3k initially.  hell it was over 3btc when value was 1K.  i agree, s3 has a sleek design, more thought into this miner.  it looks finished, unlike the s1 which looked like a prototype.  BFL did have an awesome design too, i think all their engineering went into aesthetics, the internals were blowing up all over the place, poor soldering, poor components placements (components and metal touch each other). 

cloud mining looks to be the natural transition for the small-time miners (such as myself).

I never bought any Bitmain products prior to my S3 and I was so enraged over BFL's handling of the Singles that I decided to sit out of the race.  Several people have reported that their S1s were able to BTC ROI.  Even if they cost $3k back then which would be 3BTC, if they mined 4BTC you still came out ahead.  Very few ASICs actually has positive BTC ROI.

i had a few of the S1's, i can say that i made a ROI and then a little more.  with all HW, the whole thing is timing, get in and sell before it loses too much value.   yeah, BFL did everyone dirty.  I don't know 1 person that has been happy how he was treated by BFL--when ordering a product directly from them.  all the poor folks that ordered monarchs got shafted with no lube.  they paid 3-4k and are getting a miner a year after it was promised.  who the F is going to pay $2k for 600 or 700 gh/s now ? 

Did you factor in the electricity charges? I also had S1 but it seems like it will never ROI for me...
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September 14, 2014, 09:02:10 PM
 #31

yeah, i factored in the electrical.  i bought mine back in November i think ?  i mined till March, then sold them for .80 btc.  so all in all i was ahead.  especially with the prices i paid.  one i bought for 2.5 btc, another for 2 btc, and the last for 1.5 btc. at one point in time i was making 1 BTC per week with them. 

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