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[BSGMiner]

Here we go again...

[1714107047]

1714107047

[1714107047]

1714107047

[1714107047]

1714107047

[NomadGroup]

if i recall correct, its a percentage of 27% right?
Why not buy from some local companies there and have them change the initial purchase price? Saves a lot of taxes... 

Also in other news, they said there was just a US-China trade war truce for 90 days that started on 12/1. Not sure how much of a nightmare that's gonna be for companies like Blokforge, but it seems like those tariffs shouldn't be applicable if purchased ≥ 12/1/18 & < 3/1/19... We shall see how they handle this, I suppose.

The 27% on the miners have been aplicable since like July 8th I think,  and I even heard that some people recieved a bill from UPS, even on the packages that they got before that date and already payed the previous duties on the miners (crazy,).   Actually I received one too not too long ago for the miners that I got like in April and was already charged the duties by the UPS upon he delivered!

I watched the G20 news the other day and they said that Trump put a hold on the trade war with China and that for now they aren’t going to double the import tax from China. Which from what it looks they were going to do.

 So the 27% is just a little taste, they haven’t really raised the tax to what they wanted to on thousands of products that are imported from China.  Shopping in Wall Mart won’t be a favorite thing for low income people anymore if this sh... keeps on going in that direction!   .

Since all of the taxes will be passed on to the end buyers!

[sarcheer]

They were going to raise the tariff to 25% on ALL goods from China, that's what was postponed I believe.

[NomadGroup]

I agree, the current situation would make anyone loose enthusiasm for it, not to mention the 27% import tax they got on the miners coming into the U.S now, which makes you want to quit even more if you don’t have the miners on hand already. 

In my case I’ve finished installing everything and the miners are just sitting here so I have to try to see what happens, after all the work has been done. 

I keep hoping to see Japan come out with ASIC's so can avoid the import tax, though even with it - Bitmain S9's are super cheap, especially when having a shit ton of coupons that are just expiring left and right lol

They are super cheap indeed,  i paid almost 60k just for 22 miners sometime in April so yeah even with that tax the miners are hell of a lot cheaper these days!  And yes the coupons just keep coming in, afte the $55 ones have expired I got another email the other day for some more.

They have plenty of hardware to get rid of but don’t have many orders  these days I’m sure because of the current situation, so they try to spice it up with some coupons.

[NomadGroup]

Cool man,  the electric company made me buy and put 2x600 amp, one next to the transformer and one inside the building, as well as one 200 amp fuse.  The wire cables that I got running to the 600amps is 350mcm which is as thick as 4 fingers put together, that wire was hella expesive!  I don’t remember the exact price but it was around 3-4K just to run it from the transformer to the inside of the farm.  It was a lot longer to runit to the main line outside.  Pretty much I’ve spent a fortune to install all of it!  Not to mention the price of the transformer. 

It was my plan to build a 60x100 building and fill it with miners but right now, that is not cost effective and with the electric company giving me so much crap, I am starting to lose my enthusiasm for it.

I know nothing about mining, I have a friend who is quite familiar though. How much would I need to invest to have a decent miner? Tired of buying btc. And how much electricity a month does it cost? I am trying to get a wallet back up over .01 or so?
Must I have the most advance video cards to pool mine? I just do not have much to invest. I live off $800 a month?

I’ll give you a quick look on the Mining situation.  If you live on $800 a month, all you can afford is one Antminer S9i which is little better then just the S9, consumes little less of electricity. 

With this miner you will make approximately 0.0005910 btc per day, or around $2.3 dollars.

Look at your last electric bill and try to find how many cents you pay per kilowatt,  for example in Texas it is around $0.10 at a regular house.

Go to this site:

https://www.rapidtables.com/calc/electric/electricity-calculator.html

Put in the data which would be 1350 watts, 24 hours of use per day and the price you pay per kilowatt and press calculate.  Take the number that will show that you will have to pay per day for the electricity and minus out what you miner will make, which is about $2.3 daily.

And that’s how you will see how much your miner will make you on a daily basis, then times that 30 and you’ll get your monthly income.  Or the price that you will have to pay out of your pocket for your 1 S9i brining you the BTC. 

[kano]

Or the one I wrote

http://tradebtc.net/bitcalc.php

[NomadGroup]

Or the one I wrote

http://tradebtc.net/bitcalc.php

Yes, I forgot that Kano has one.   .  You can just use that one, all on one page.

[sergw]

Put in the data which would be 1350 watts, 24 hours of use per day and the price you pay per kilowatt and press calculate.  Take the number that will show that you will have to pay per day for the electricity and minus out what you miner will make, which is about $2.3 daily.

And that’s how you will see how much your miner will make you on a daily basis, then times that 30 and you’ll get your monthly income.  Or the price that you will have to pay out of your pocket for your 1 S9i brining you the BTC. 

well, to be honest with $0.1 tariff S9 works negative profit and you need to pay for it from your pocket. Only new miners with 7nm chips will work with profit on your tariff. if you believe in bitcoin, do not mine, just buy bitcoins and wait.

[sarcheer]

Yes, stop mining people so the diff lowers keep mining on Kano tho

[NomadGroup]

Put in the data which would be 1350 watts, 24 hours of use per day and the price you pay per kilowatt and press calculate.  Take the number that will show that you will have to pay per day for the electricity and minus out what you miner will make, which is about $2.3 daily.

And that’s how you will see how much your miner will make you on a daily basis, then times that 30 and you’ll get your monthly income.  Or the price that you will have to pay out of your pocket for your 1 S9i brining you the BTC. 

well, to be honest with $0.1 tariff S9 works negative profit and you need to pay for it from your pocket. Only new miners with 7nm chips will work with profit on your tariff. if you believe in bitcoin, do not mine, just buy bitcoins and wait.

Your honesty is highly appreciated my friend but I think it is pretty clear to anyone that can use either one of the calculators mentioned above that they will have to pay about $0.05 out of their pocket per every kilowatt that they use, if they have a tariff of a $0.10. 

[userghost]

If anyone is on the verge of pulling out because of low BTC costs and high electric and needs a better place to host contact me. I have hosting options that are still very profitable

[MKMiners]

So guys, what is the current reward for say 1 S9 - 14 TH per block on average after the last difficulty drop? I may host my 3 S9 miners at some hosting which is asking me to pay around 36$ per machine so far. Is it profitable at that rate or I may have to pay something out of pocket? I know BTC price fluctuation plays a big role, but still nonetheless, even if I can make $100-150 as profit, I would take it rather than keeping machines off and collecting real dust 

[Biffa]

So guys, what is the current reward for say 1 S9 - 14 TH per block on average after the last difficulty drop? I may host my 3 S9 miners at some hosting which is asking me to pay around 36$ per machine so far. Is it profitable at that rate or I may have to pay something out of pocket? I know BTC price fluctuation plays a big role, but still nonetheless, even if I can make $100-150 as profit, I would take it rather than keeping machines off and collecting real dust 

I assume that's $36 per month? In which case you should make about 2x that per month for an s9 at current price and difficulty if the pool has 100% luck.

[Mukas]

Hello! Tell me why since the 25th day it doesn’t close the blocks, they just joined you, it turns out that the workout just works ... (((What happened? There were no such delays before ... What predictions? Leave or wait for a miracle?)

[Biffa]

Hello! Tell me why since the 25th day it doesn’t close the blocks, they just joined you, it turns out that the workout just works ... (((What happened? There were no such delays before ... What predictions? Leave or wait for a miracle?)

It's just a combination of luck, variance and hash power.

Statistically we are bound to get long dry spells every now and then, 300%+ is 1 in 20 blocks, and that's if luck is static.

The usual post about stats

Code:

 0.39346934028737   50.000%  1 in 1.6
 0.63212055882856  100.000%  1 in 2.7
 0.77686983985157  150.000%  1 in 4.5
 0.86466471676339  200.000%  1 in 7.4
 0.95021293163214  300.000%  1 in 20.1
 0.98168436111127  400.000%  1 in 54.6
 0.99326205300091  500.000%  1 in 148.4
 0.99752124782333  600.000%  1 in 403.4
 0.99872735771441  666.666%  1 in 785.8
 0.99908811803445  700.000%  1 in 1096.6
 0.99966453737210  800.000%  1 in 2981.0
 0.99987659019591  900.000%  1 in 8103.1

[Mukas]

Hello! Tell me why since the 25th day it doesn’t close the blocks, they just joined you, it turns out that the workout just works ... (((What happened? There were no such delays before ... What predictions? Leave or wait for a miracle?)

It's just a combination of luck, variance and hash power.

Statistically we are bound to get long dry spells every now and then, 300%+ is 1 in 20 blocks, and that's if luck is static.

The usual post about stats

Code:

 0.39346934028737   50.000%  1 in 1.6
 0.63212055882856  100.000%  1 in 2.7
 0.77686983985157  150.000%  1 in 4.5
 0.86466471676339  200.000%  1 in 7.4
 0.95021293163214  300.000%  1 in 20.1
 0.98168436111127  400.000%  1 in 54.6
 0.99326205300091  500.000%  1 in 148.4
 0.99752124782333  600.000%  1 in 403.4
 0.99872735771441  666.666%  1 in 785.8
 0.99908811803445  700.000%  1 in 1096.6
 0.99966453737210  800.000%  1 in 2981.0
 0.99987659019591  900.000%  1 in 8103.1

You can explain for dummies, I don’t understand much about it, I switched to this pool with 14 asic, and within 7 days of a single block, I have a reason to stay or switch to the old one, I don’t understand much about it, just before I had credits day, and now it turns out 7 days in a minus I work .....

[kano]

The Web site explains it see Help->Luck
(and the other Help pages)

[Biffa]

You can explain for dummies, I don’t understand much about it, I switched to this pool with 14 asic, and within 7 days of a single block, I have a reason to stay or switch to the old one, I don’t understand much about it, just before I had credits day, and now it turns out 7 days in a minus I work .....

No offence, but this isn't really the sort of industry to be in if you are a dummy You need to understand the principles and that takes a bit of research and understanding.

[sergw]

Hello! Tell me why since the 25th day it doesn’t close the blocks, they just joined you, it turns out that the workout just works ... (((What happened? There were no such delays before ... What predictions? Leave or wait for a miracle?)

It's just a combination of luck, variance and hash power.

Statistically we are bound to get long dry spells every now and then, 300%+ is 1 in 20 blocks, and that's if luck is static.

The usual post about stats

Code:

 0.39346934028737   50.000%  1 in 1.6
 0.63212055882856  100.000%  1 in 2.7
 0.77686983985157  150.000%  1 in 4.5
 0.86466471676339  200.000%  1 in 7.4
 0.95021293163214  300.000%  1 in 20.1
 0.98168436111127  400.000%  1 in 54.6
 0.99326205300091  500.000%  1 in 148.4
 0.99752124782333  600.000%  1 in 403.4
 0.99872735771441  666.666%  1 in 785.8
 0.99908811803445  700.000%  1 in 1096.6
 0.99966453737210  800.000%  1 in 2981.0
 0.99987659019591  900.000%  1 in 8103.1

honestly all that math got messed with x4 pool hashrate drop after the latest block

[minergain.com]

No offence, but this isn't really the sort of industry to be in if you are a dummy You need to understand the principles and that takes a bit of research and understanding.

Every one of us started out with virtually no knowledge, so I disagree with this statement.  You are asking questions and the Kano pool people are great and mostly patient.  I think with all the latest drop in hash and prices, we are all very "on edge" trying to figure out what to do next.  So the biggest thing right now is that there are very few people making money.  If you can get $36 per month cost per S9, you will be one of the few making money.  I know I am paying about 1/2 more for power than if I bought BTC outright.  I am mining because it helps the keep the future of BTC going (thus protecting all my previous mining and purchases).  I also believe there is a strong future in crypto so I am treating it very much like gambling (with better odds - I hope).  

You really need to figure out your motivations for mining.  If you want a steady income stream, then Kano is probably not the place to be - especially at our current 45Ph.  But if you can cover your power costs without any blocks in a month (which we will probably see several each month but there is a chance for none) , there is a lot of upside potential not available with the big pools.  We have had some pretty crappy luck for the past 2 months and we have some very lucky months.  All pools run into this, however the big guys will pay you TINY amounts per block found very frequently - so it all evens out quicker due to the volume (often termed variance).  We may have no blocks for a week or more but get paid well for each one found.  And since finding a block is totally random, we can find 3 blocks in a day too with the same big payment for each - thus a lot more return for our investment.

I hope this helps a little.  Every one of us are going through the turmoil of decisions like yours.  You need to figure out your risk tolerance and make decisions from there.  Best of luck with those decisions and I know I will Mine On with Kano!