Bitmaintech will feature a huge discount on Bitcoin Black Friday

[raskul]

while some fake bitmain scam website are selling at a discount for only the next few hours, Spondoolies are running their own sale right thru Monday.
I bought an SP20 miner (1.7TH/s for only $695) which will still be giving profit vs electricity costs even when difficulty reaches 100billion.

don't rush out to buy the first thing you see - stay calm, do your calcs as you normally would and take time to decide what's best for you

 

[inBitweTrust]

while bitmain are selling at a discount for only the next few hours, Spondoolies are running their own sale right thru Monday.
I bought an SP20 miner (1.7TH/s for only $695) which will still be giving profit vs electricity costs even when difficulty reaches 100billion.

don't rush out to buy the first thing you see - stay calm, do your calcs as you normally would and take time to decide what's best for you

 

How does that math work out?

https://bitcoinwisdom.com/bitcoin/calculator

Even assuming extremely cheap 0.08 per K/Wh , no delays, now hardware failure, 0 pool fee , you will still not break even unless average difficulty is less than 6%. Why do you assume difficulty will remain under 6% judging from history? Yes, I realize this month may be ~11% but do you really think that these numbers will sustain themselves when some months have seen over 100% increases in difficulty.

[raskul]

while bitmain are selling at a discount for only the next few hours, Spondoolies are running their own sale right thru Monday.
I bought an SP20 miner (1.7TH/s for only $695) which will still be giving profit vs electricity costs even when difficulty reaches 100billion.

don't rush out to buy the first thing you see - stay calm, do your calcs as you normally would and take time to decide what's best for you

 

How does that math work out?

https://bitcoinwisdom.com/bitcoin/calculator

Even assuming extremely cheap 0.08 per K/Wh , no delays, now hardware failure, 0 pool fee , you will still not break even unless average difficulty is less than 6%. Why do you assume difficulty will remain under 6% judging from history? Yes, I realize this month may be ~11% but do you really think that these numbers will sustain themselves when some months have seen over 100% increases in difficulty.

i'm running an SP20 which was received today underclocked - 1.35TH/s @ < 750w at the wall.
here's a good thread to check out other reviews of the miner - https://bitcointalk.org/index.php?topic=872014.msg9645864#msg9645864
 

you're welcome.

[inBitweTrust]

i'm running an SP20 which was received today underclocked - 1.35TH/s @ < 750w at the wall.
here's a good thread to check out other reviews of the miner - https://bitcointalk.org/index.php?topic=872014.msg9645864#msg9645864
 

you're welcome.

Your sidestepping the question.

Adjusting for those numbers if we assume one underclocks their miner I still come out to a ROI needing an average of less than 6% an month at extremely cheap 0.08 cents a KwH, no problems, no delays , and no pool fee.

https://bitcoinwisdom.com/bitcoin/calculator

How will you possibly ever see a ROI? Do you expect less than 6% difficulty increase averages a month? Where is my math wrong?

[raskul]

i'm running an SP20 which was received today underclocked - 1.35TH/s @ < 750w at the wall.
here's a good thread to check out other reviews of the miner - https://bitcointalk.org/index.php?topic=872014.msg9645864#msg9645864
 

you're welcome.

Your sidestepping the question.

Adjusting for those numbers if we assume one underclocks their miner I still come out to a ROI needing an average of less than 6% an month at extremely cheap 0.08 cents a KwH.

https://bitcoinwisdom.com/bitcoin/calculator

How will you possibly ever see a ROI? Do you expect less than 6% difficulty increase averages a month? Where is my math wrong?

I already have a return on investment /pedant. and will break even with this SP20 far quicker than anything with the BE200 - i am however looking forwards to seeing the BE300, which may or may not be competitive at time of miner production.

my personal circumstances; as stated, will allow me to gather profit from that SP20 vs electric costs right the way to 100billion difficulty and....
it is indisputable that the SP-Tech chip is superior, and more efficient than anything else on the market today.

[inBitweTrust]

I already have a return on investment /pedant. and will break even with this SP20 far quicker than anything with the BE200 - i am however looking forwards to seeing the BE300, which may or may not be competitive at time of miner production.

my personal circumstances; as stated, will allow me to gather profit from that SP20 vs electric costs right the way to 100billion difficulty and....
it is indisputable that the SP-Tech chip is superior, and more efficient.

So you are suggesting the calculator is wrong than.

What months did you mine on your equipment to break even?
What is you electrical rate?
What price did you pay for the miners that allowed you to break even?
What is the hashing power and watts used?

Your other post doesn't apply as it doesn't answer these crucial questions.

[raskul]

I already have a return on investment /pedant. and will break even with this SP20 far quicker than anything with the BE200 - i am however looking forwards to seeing the BE300, which may or may not be competitive at time of miner production.

my personal circumstances; as stated, will allow me to gather profit from that SP20 vs electric costs right the way to 100billion difficulty and....
it is indisputable that the SP-Tech chip is superior, and more efficient.

So you are suggesting the calculator is wrong than.

What months did you mine on your equipment to break even?
What is you electrical rate?
What price did you pay for the miners that allowed you to break even?
What is the hashing power and watts used?

Your other post doesn't apply as it doesn't answer these crucial questions.

sorry, it took me a while to get the screen grabs for calcs.

Looking at current rate $/BTC these screen grabs show that the final mined 0.20BTC (last month @ 100billion) will cost me ~£13.32 in electric over the amount the miner will mine. see screen grabs.







I will mine profitable with the SP20 which I received today, up until 100billion difficulty. This is if BTC remains at the current rate.

[inBitweTrust]

I will mine profitable up until 100billion difficulty. This is if BTC remains at the current rate.

If you are only going to be profitable up until 100Billion difficulty how can you possibly break even than on the purchase price of your gear?

1.35 TH @ 750 W with  with 11.4 pence per KwH is even worse thanmy numbers because your high electrical rates.
You would need to have an average difficulty increase of less than 2% a month to ever break even.

Why are you not using calculators that adjust for difficulty ? You aren't profitable if you never break even on the initial purchase price!


Below is the assumption of 2% average difficulty increases a month where you will never break even and in 458 days have to pull the plug on your miner to have a negative 77 dollars from the initial investment of 695. Yes, in the unexpected event that mining ever has a record of 2% for over a year straight you should expect to pay 695 dollars + SH for a profit of 618 dollars!

Date    Difficulty    Revenue    Profit    Return
2014             -695
11-29 – 11-30 (2 days)    40300 M    6.057    6.057    -688.9
12-1 – 12-31 (33 days)    40300 M    88.2    88.2    -600.7
2015
1-1 – 1-31 (64 days)    42766 M    80    80    -520.7
2-1 – 2-28 (92 days)    44494 M    65.65    65.65    -455.1
3-1 – 3-31 (123 days)    46292 M    65.59    65.59    -389.5
4-1 – 4-30 (153 days)    48162 M    56.72    56.72    -332.8
5-1 – 5-31 (184 days)    50108 M    51.92    51.92    -280.9
6-1 – 6-30 (214 days)    53175 M    43.83    43.83    -237
7-1 – 7-31 (245 days)    55323 M    39.16    39.16    -197.9
8-1 – 8-31 (276 days)    57558 M    33.22    33.22    -164.6
9-1 – 9-30 (306 days)    59883 M    26.72    26.72    -137.9
10-1 – 10-31 (337 days)    62303 M    22.2    22.2    -115.7
11-1 – 11-30 (367 days)    66116 M    16.36    16.36    -99.37
12-1 – 12-31 (398 days)    68787 M    11.98    11.98    -87.39
2016
1-1 – 1-31 (429 days)    71566 M    7.21    7.21    -80.18
2-1 – 2-29 (458 days)    74457 M    2.567    2.567    -77.61
3-1 – 3-31 (489 days)    77465 M    -1.496    -1.496    -79.11

[raskul]

I will mine profitable up until 100billion difficulty. This is if BTC remains at the current rate.

If you are only going to be profitable up until 100Billion difficulty how can you possibly break even than on the purchase price of your gear?

1.35 TH @ 750 W with  with 11.4 pence per KwH is even worse thanmy numbers because your high electrical rates.
You would need to have an average difficulty increase of less than 2% a month to ever break even.

Why are you not using calculators that adjust for difficulty ? You aren't profitable if you never break even on the initial purchase price!


Below is the assumption of 2% average difficulty increases a month where you will never break even and in 458 days have to pull the plug on your miner to have a negative 77 dollars from the initial investment of 695.

Date    Difficulty    Revenue    Profit    Return
2014             -695
11-29 – 11-30 (2 days)    40300 M    6.057    6.057    -688.9
12-1 – 12-31 (33 days)    40300 M    88.2    88.2    -600.7
2015
1-1 – 1-31 (64 days)    42766 M    80    80    -520.7
2-1 – 2-28 (92 days)    44494 M    65.65    65.65    -455.1
3-1 – 3-31 (123 days)    46292 M    65.59    65.59    -389.5
4-1 – 4-30 (153 days)    48162 M    56.72    56.72    -332.8
5-1 – 5-31 (184 days)    50108 M    51.92    51.92    -280.9
6-1 – 6-30 (214 days)    53175 M    43.83    43.83    -237
7-1 – 7-31 (245 days)    55323 M    39.16    39.16    -197.9
8-1 – 8-31 (276 days)    57558 M    33.22    33.22    -164.6
9-1 – 9-30 (306 days)    59883 M    26.72    26.72    -137.9
10-1 – 10-31 (337 days)    62303 M    22.2    22.2    -115.7
11-1 – 11-30 (367 days)    66116 M    16.36    16.36    -99.37
12-1 – 12-31 (398 days)    68787 M    11.98    11.98    -87.39
2016
1-1 – 1-31 (429 days)    71566 M    7.21    7.21    -80.18
2-1 – 2-29 (458 days)    74457 M    2.567    2.567    -77.61
3-1 – 3-31 (489 days)    77465 M    -1.496    -1.496    -79.11

now apply your own thinking to a chip which is less efficient  like the BE200 perhaps.

[DebitMe]

Son of a bitch, of course this is a scam.  Dammit, I was excited earlier and on my way out the door when I saw it and made an order, luckily it was only for 1 C1, but still, that's 200 bucks ill never see again.  Stupid thieves ruining bitcoin for the majority of people.

This kind of thing sickens me.  They obviously spent a lot of time planning this and mimicking the bitmain website, just in an effort to scam people.  Stupid lowlife pieces of shit, not smart enough to have a real job so they have to ruin others lives by stealing.

[inBitweTrust]

now apply your own thinking to a chip which is less efficient   like the BE200 perhaps.

I agree there are worse deals out there.... but that isn't the question. Why are you sidestepping the issue with showing how you ever broke even on your investment?

If you can do the math with me to verify your claims I will go out of my way and promote the shit out of your affiliate link for free. I will even place your affiliate link in my sig so you can get all my commissions.

Why can't we honestly discuss the numbers? Are you delusional or a scammer as well?

[inBitweTrust]

Son of a bitch, of course this is a scam.  Dammit, I was excited earlier and on my way out the door when I saw it and made an order, luckily it was only for 1 C1, but still, that's 200 bucks ill never see again.  Stupid thieves ruining bitcoin for the majority of people.

This kind of thing sickens me.  They obviously spent a lot of time planning this and mimicking the bitmain website, just in an effort to scam people.  Stupid lowlife pieces of shit, not smart enough to have a real job so they have to ruin others lives by stealing.

Well even if it is legit you wont the 40% off deal ...

"THIS OFFER IS AVAILABLE ONLY 24 HOURS AND FOR ONLY 1500 UNITS"

[raskul]

now apply your own thinking to a chip which is less efficient  like the BE200 perhaps.

I agree there are worse deals out there.... but that isn't the question. Why are you sidestepping the issue with showing how you ever broke even on your investment?

If you can do the math with me to verify your claims I will go out of my why and promote the shit out of anything you want for free.

1BTC=1BTC is my math, as ever. I find your demands for my inside leg measurements et al, pretty vulgar tbh, and ...you were trying to promote that I click the links to buy bitmain products in the first place. I was merely offering the thread a less-risky alternative - especially now seeing that you may have been implicit in the scam bitmaintechbf  

So, to explain this (again ) - you are not the first to question my belief in bitcoin and i'm sure that you will not be the last, because essentially, that is what you have done. i never buy a miner with bitcoin, i always use fiat currencies to buy with.
my thinking, if I have bitcoin,  why on earth would I want to give that bitcoin to someone so that I can earn that bitcoin back?
it makes no sense and is a ludicrous way of partaking in a hobby that I enjoy.

So, you will realise that i've already broken even on my purchase because the fiat currency I use, to me is worth far less, than bitcoin I mine, ever will be.
(yes, i also buy BTC monthly, with £,'s at whatever rate BTC is at on the last day of the month.)

You should realise, not everyone wishes to mine BTC to make an immediate spendable income.
I work for a living and i spend my earnings on 1.bills 2.mortgage 3.general costs of living 4.pleasure and hobbies.

everything I spend on 4. is money that I do not need to spend on 1,2 or 3. and all I need to know is that when I buy mining hardware, that I am buying the most efficient mining hardware that those £'s can purchase.

[raskul]

now apply your own thinking to a chip which is less efficient   like the BE200 perhaps.

I agree there are worse deals out there.... but that isn't the question. Why are you sidestepping the issue with showing how you ever broke even on your investment?

If you can do the math with me to verify your claims I will go out of my way and promote the shit out of your affiliate link for free. I will even place your affiliate link in my sig so you can get all my commissions.

Why can't we honestly discuss the numbers? Are you delusional or a scammer as well?

quoted for future reference.

[uhoh]

100% SCAM! please upvote on Reddit for visibility

[inBitweTrust]

1BTC=1BTC is my math, as ever. I find your demands for my inside leg measurements et al, pretty vulgar tbh,

No , because you need to compare investing BTC directly to mining BTC and even if you calculate a breakeven point in BTC instead of fiat you still won't see a ROI.

I find your demands for my inside leg measurements et al, pretty vulgar tbh,

Demands? I was offering to promote your affiliate for free if you spent 30 seconds of time and answer 4 questions that verified your claims.

you were trying to promote that I click the links to buy bitmain products in the first place. I was merely offering the thread a less-risky alternative - especially now seeing that you may have been implicit in the scam bitmaintechbf  

WTF, are you high?.... I was calling bitmaintechbf a likely scam and never promoted them or bitmain ever.

So, to explain this (again ) - you are not the first to question my belief in bitcoin and i'm sure that you will not be the last, because essentially, that is what you have done.

I don't promote alts and my intention is not for you to question your beliefs in Bitcoin. I am a very strong advocate of Bitcoin and openly admit that I own 99% BTC and 1% Namecoin.

So, you will realise that i've already broken even on my purchase because the fiat currency I use, to me is worth far less, than bitcoin I mine, ever will be.
(yes, i also buy BTC monthly, with £,'s at whatever rate BTC is at on the last day of the month.)

Thanks for answering my question that you mine for altruistic reasons alone. Good for you. The only thing I ask is for you to be up front with that from the beginning.

[raskul]

The request you made was ridiculous.
You are basically asking me to tell you, in no uncertain terms, when i will have mined back the $795 it cost me to purchase my most recent miner and if i was able to furnish you with that specific information, you would promote my affiliate link.

Well, all i can do is reiterate ( on account of me being unable to predict the future - which is essentially, what you are asking of me).

I know, this miner will still be mining profit right up until 100billion difficulty.

Firstly you asked me to provide calcs if that specific statement. Which i did.

And if i am able to go further and actually predict every % of difficulty increase up until 100billion, you will reward me with magic beans.

Please, keep your magic beans, i'm really not interested in being your fairground attraction.
You must realise how ludicrous your requests are? Don't you? I answered the question you had regarding profitability of my SP20 up until 100bil difficulty but yet you require me to go futher and set it out in a timeline for you.
Is this 'up front' enough?...
Well i'm sorry but my brain isn't so far evolved for prophecy. Just yet

[inBitweTrust]

Well i'm sorry but my brain isn't so far evolved for prophecy. Just yet

It has nothing to do with predicting the future. I never stated it was impossible(though, highly unlikely) to mine at a profit and my questions only had to deal with known facts and not guesswork to verify your claims.

Remember, you claimed to have already made a ROI.

I already have a return on investment.

Now you are defining that ROI to mean something other than the market price of Bitcoin and ignoring investment lost opportunities if you bought BTC directly with the Fiat you spent upon a mining rig.

Spending 30 seconds to answer known facts (not prophesies) for me promoting your affiliate link for free is not unreasonable. In fact you should have been chomping at the bit to take up the offer.

I am now under the impression you are either completely delusional or willing to mislead others in order to profit from your affiliate account. I'm sure you could care less , but this conversation is more for others that might fall for your flaws in reasoning or misleading statements, than for you.

P.S.... go ahead and quote that too.

[raskul]

mate. for me to be able to tell you when this SP20 will return the initial investment i've made on it, I would need to know every fluctuation in the price of bitcoin and every difficulty jump, up until the time of break even.

If you can furnish me with that information, i'll gladly do the calculation for you.

my statement, again, for the hard of hearing (reading!?);

my new SP20 will mine profitable right the way up until difficulty reaches 100billion.
i never made any other claim than that. You just seem hurt that I didn't buy something with the less-efficient, BE200 chip.

and no, i do not 'chomp at the bit' to find that you might promote any of my affiliate links. but thanks for offering.

[inBitweTrust]

mate. for me to be able to tell you when this SP20 will return the initial investment i've made on it, I would need to know every fluctuation in the price of bitcoin and every difficulty jump, up until the time of break even.

If you can furnish me with that information, i'll gladly do the calculation for you.

my statement, again, for the hard of hearing (reading!?);

my new SP20 will mine profitable right the way up until difficulty reaches 100billion.
i never made any other claim than that. You just seem hurt that I didn't buy something with the less-efficient, BE200 chip.

and no, i do not 'chomp at the bit' to find that you might promote any of my affiliate links. but thanks for offering.

Ok, now I get the impression that you simply are confused and don't know what ROI means.

I already have a return on investment

This is past tense, meaning you already made back 100% through mining directly sometime in the past of your initial investment in either BTC or fiat.

There are calculators which I referenced which show expected future returns based upon all variables very easily. Predicting future returns is not needed under this scenario because you claimed you already made a ROI though.

You just seem hurt that I didn't buy something with the less-efficient, BE200 chip.

What an odd statement to make , when the hell did I promote the BE200 chip or suggest you invest in any form of mining? This is either a poor attempt at misdirection or you are hallucinating.