Talk me into our out of mining :)

[idlew1ld]

Hello There.

I am currently looking into mining but i read some concern on ROI and what not but i also stumble on this calculator https://alloscomp.com/bitcoin/calculator and would like to know if this thing is right or if its just not accurate.

I would like to get into mining big and currently have a 400 amp service at home 200 amp at the office and another 200 amp in the garage.

I could possibly upgrade the office with a 400 amp and the garage with a 800 amp service.

The downstairs part of our office is 30'*14'*8'height my home space is 32'*24'*8' height and the main place in the garage is 42'*16.5'*15.5' height.

My home ac is 3.5ton the office 2.5ton the garage 2.5tone i could possibly upgrade these to 12 ton commercial unit for the dedicated space or go subversive cooling down the line. 

I would be looking to start with 450gh/s unit and further down the line look into something that have more performance to square foot performance i know these will become obsolete within 2 years max.

i would start with 28 miners and go all the way to 305 units total before changing them ALL in 23 month.

I am looking into doing this for fun and diversify my business portfolio.

The electricity here is cheap with a worst case scenario of 8c/kw.

Any feedback on this project would be appreciated and i would like experience miners to guide me into the right direction with this because i don't want to loose any time working around mistakes i could possibly do.

Also i would like to know if with a setup like this i should still mine with a group and wen would be the right moment to min alone.

Thanks in advanced !

PL

[1714886410]

1714886410

[1714886410]

1714886410

[1714886410]

1714886410

[SuperBitcoinUser]

I did scrypt mining, and I got killed with the technology increasing SO fast. I lost tons of money.

Bitcoin mining is a hard game, and you need to be quick to upgrade hardware, have cheap electricity costs, etc.

[rhj12345]

If you purchased an S3 today and you had it ready to go, it would take 86 days to ROI when you include the power supply that you need to buy. When you factor in the electricity its even worse. Most of us who are still mining purchased when ROI was less than half that.

So you are a little late to the game. If you are smart about your money, you should just purchase BTC today and hold. Wait and see if the price goes up and keep reading the forum for advice on what to do with your Bitcoin. Most of the manufactures are going in the red if the price doesn't start to go up, or they come out with something like 0.20 per gh price on units. Right now your are seeing 0.76 to 0.63 per gh.

I have 30 machines from Bitmaintech and they all work great but I am making less than half of what I made 2 months ago. But my units are all paid off so I'm good.

Buy and hold, wait and see. READ the forum everyday!

Hope this helps. 

[Ayers]

don't try to play the bitcoin mining game, it isn't profitable at all, you will barely break even, only big company can do it at this point

[Klubknuckle]

Dont do mining, you will regret it. You waste all your time and effort and get negative return.

[idlew1ld]

So if i get this correctly you guys are telling me that i should hold up until the equipment prices falls inline to make this more profitable.

I still have not gotten the answer about the calculator on alloscomp web site is it accurate?

And lets say I buy the equipment now how long will these last before they become non profitable ?

If i use the calculator based on the alloscomp web site it tells me there is money to be made mining i just need to have it larger scale and i am also looking into building a mining operation that gives me 137250gh/s i am i not seen something here that makes the calculation not accurate?

I even factored in electricity cost and it looks like i would turn a large enough profit to buy more equipment.

Thanks.

[btckold24]

keep your eye out for secondhand machines and sometimes you can score a great deal.

The s3 is dated at this point and by the time you get it in 3 weeks its even more outdated.

Personally I would buy bitcoin at this lvl and when the next great machine with great ROI comes out jump on it.
I am sure bitmain in the near future will have an excellent machine.

Just keep in mind they only accept btc so buying btc at this lvl and holding will give you much more options of what machine you buy in the future

[Wexlike]

If you would start mining RIGHT NOW with an antminer s3 you would make 305$ after electricity costs. After 16 difficulty adjustments of 10% you would lose money.

Don't throw your money out of the window, nethash is rising fast !

Code:

daily$	electricity	profit	days
4,03	        0,69	46,76	           14
3,627	        0,69	87,878	           28
3,2643        	0,69	123,9182	42
2,93787  	0,69	155,38838	56
2,644083	0,69	182,745542	70
2,3796747	0,69	206,4009878	84
2,14170723	0,69	226,72488902	98
1,927536507	0,69	244,050400118	112
1,7347828563	0,69	258,6773601062	126
1,5613045707	0,69	270,8756240956	140
1,4051741136	0,69	280,888061686	154
1,2646567022	0,69	288,9332555174	168
1,138191032	0,69	295,2079299657	182
1,0243719288	0,69	299,8891369691	196
0,9219347359	0,69	303,1362232722	210
0,8297412623	0,69	305,092600945	224
0,7467671361	0,69	305,8873408505	238
0,6720904225	0,69	305,6366067654	252

[Wexlike]

If you would start mining RIGHT NOW with an antminer s3 you would make 305$ after electricity costs. After 16 difficulty adjustments of 10% you would lose money.

Don't throw your money out of the window, nethash is rising fast !

Code:

daily$	electricity	profit	days
4,03	        0,69	46,76	           14
3,627	        0,69	87,878	           28
3,2643        	0,69	123,9182	42
2,93787  	0,69	155,38838	56
2,644083	0,69	182,745542	70
2,3796747	0,69	206,4009878	84
2,14170723	0,69	226,72488902	98
1,927536507	0,69	244,050400118	112
1,7347828563	0,69	258,6773601062	126
1,5613045707	0,69	270,8756240956	140
1,4051741136	0,69	280,888061686	154
1,2646567022	0,69	288,9332555174	168
1,138191032	0,69	295,2079299657	182
1,0243719288	0,69	299,8891369691	196
0,9219347359	0,69	303,1362232722	210
0,8297412623	0,69	305,092600945	224
0,7467671361	0,69	305,8873408505	238
0,6720904225	0,69	305,6366067654	252

Sorry, i forgot to add the 10% faster adjustment period because of the rising nethashrate.

That makes the calculation even worse.

Code:

daily$	electricity	profit	days
4,03	0,69	42,084	12,6
3,627	0,69	79,0902	25,2
3,2643	0,69	111,52638	37,8
2,93787	0,69	139,849542	50,4
2,644083	0,69	164,4709878	63
2,3796747	0,69	185,76088902	75,6
2,14170723	0,69	204,052400118	88,2
1,927536507	0,69	219,6453601062	100,8
1,7347828563	0,69	232,8096240956	113,4
1,5613045707	0,69	243,788061686	126
1,4051741136	0,69	252,7992555174	138,6
1,2646567022	0,69	260,0399299657	151,2
1,138191032	0,69	265,6871369691	163,8
1,0243719288	0,69	269,9002232722	176,4
0,9219347359	0,69	272,822600945	189
0,8297412623	0,69	274,5833408505	201,6
0,7467671361	0,69	275,2986067654	214,2
0,6720904225	0,69	275,0729460889	226,8

If you want to invest in bitcoins, you should rather buy the coins directly. (and send me a bit because i helped you to avoid making a mistake  )

[leezay]

I did scrypt mining, and I got killed with the technology increasing SO fast. I lost tons of money.

Bitcoin mining is a hard game, and you need to be quick to upgrade hardware, have cheap electricity costs, etc.

Same here.

All ASIC scrypt miners lose big time when it comes to mining.

[spiceminer15]

if you're going to mine, buy USED machines for CHEAP. only way.  

[DrG]

if you're going to mine, buy USED machines for CHEAP. only way.  

Let somebody else buy them and realize the mistake they made and hope they cut the price so low to get them off their hands.  A few people will sell due to changing life circumstances or just needing cash for an emergency.

[computerchip]

if you're going to mine, buy USED machines for CHEAP. only way.  

Let somebody else buy them and realize the mistake they made and hope they cut the price so low to get them off their hands.  A few people will sell due to changing life circumstances or just needing cash for an emergency.

I am going to have to agree with these two. Never buy full price for one, and then also account for the very quickly increasing network hashrate.