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picolo
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February 19, 2015, 04:47:41 PM |
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Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.
Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out. If you don't pay for electricity, of course you will profit heavily from mining. |
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adaseb
Legendary
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Activity: 3878
Merit: 1733
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February 19, 2015, 05:10:47 PM |
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Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.
Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out. If you don't pay for electricity, of course you will profit heavily from mining. No you won't because you have to pay for the equipment. |
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GingerAle
Legendary
Offline
Activity: 1260
Merit: 1008
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February 19, 2015, 05:14:43 PM |
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Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.
Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out. If you don't pay for electricity, of course you will profit heavily from mining. No you won't because you have to pay for the equipment. could also run into the case where the landlord starts questioning the tripling of the power bill. I remember reading an article back in the day about a guy who had free electricity and setup some GPUs to take a crack at mining (yes, that far back in the day), and apparently he had a LED-fan blowing on them to keep it cool, and his landlord saw the LED from the street and investigated or something, and ultimately the lease was terminated due to "testing of equipment" or something. so, free electricity, sure... but don't wanna upset the landlord! |
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rfcdejong
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February 20, 2015, 09:57:42 PM |
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My blizzards are sleeping since this being this year.. 2 x 1.4 MH/s normal blizzard (batch 1!) 1 x 4.0 MH/s blizzard X6 They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin  |
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Furio
Legendary
Offline
Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
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February 20, 2015, 10:34:44 PM |
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My blizzards are sleeping since this being this year.. 2 x 1.4 MH/s normal blizzard (batch 1!) 1 x 4.0 MH/s blizzard X6 They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin Mining never really was and will be profitable, it's decentralization what it's all about! |
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JackTackett
Newbie
Offline
Activity: 25
Merit: 0
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February 21, 2015, 09:19:56 AM |
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I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office  Jack |
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jwcastle
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February 21, 2015, 10:26:16 AM |
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I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office Jack I turned off all my S1's in October 2014. And sold them all in November for almost what I paid for them. So in the end, I got my ROI plus a bit of pocket change. I would say it's a good experience on learning about Bitcoins and mining, but I won't be doing it again any time soon. I still have two modded HP server power supplies that I don't know what to do with. They're only worth about $10 or so on Ebay. |
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mriulian
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February 21, 2015, 07:11:40 PM |
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The price is getting lower and lower. I had 300ghs on cex.io .. Last year i won a lot of bitcoin from mining with cex.io but now..cex is lost,mining with gpu by myself is useless..I'm going to alt coins
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muvie
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February 22, 2015, 03:53:49 AM |
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Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
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siampumpkin
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February 22, 2015, 08:53:12 AM |
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Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
For me I am already there. Mining is just an even exchanges of power for bitcoins or more often a loss. It is cheaper to just buy bitcoin with fiat. |
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KaChingCoinDev
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February 25, 2015, 12:45:47 AM |
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I went from having 4 miners 2.8 th - to zero - sold them off on ebay and need bitcoin to go back to $600 if I will to have made money off the deal as electricity and cost of the miners happened when btc was over 500$  Same here, except with scrypt GPU's, when the asics came out. |
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bigbitmine
Full Member
Offline
Activity: 196
Merit: 100
Big Bit Mine
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February 26, 2015, 08:51:26 PM |
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Well I'm expanding my mining. Adding about 3TH per month. Great deals out there on miners at the moment.
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picolo
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February 26, 2015, 11:16:59 PM |
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Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
You need more power. And if the price of Bitcoin goes up, the price of electricity will go down. |
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bitcoinpete
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February 27, 2015, 05:10:34 AM |
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Turning more on to mine altcoins
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Bananana
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March 03, 2015, 08:33:19 AM |
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Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
You need more power. And if the price of Bitcoin goes up, the price of electricity will go down. Unfortunately, difficulty is increasing faster then bitcoin goes up, so electricity price ratio is always going higher and higher. |
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crk
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March 03, 2015, 12:08:13 PM |
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if you want to sell some SP20 or S4.. contact me |
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KaChingCoinDev
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March 04, 2015, 12:41:22 AM |
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It's funny seeing some people thinking that free electricity = profit. When you take into consideration deflation of the mining equipment, you most of the time end up losing, unless you have a way you can sell the equipment fast.
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crazyearner
Legendary
Offline
Activity: 1820
Merit: 1001
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March 04, 2015, 04:31:59 AM |
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Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
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najzenmajsen
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March 04, 2015, 12:45:53 PM |
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Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast. |
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crazyearner
Legendary
Offline
Activity: 1820
Merit: 1001
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March 04, 2015, 06:46:58 PM |
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Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast. You get nothing for the miners no days. Maybe get $50 to $100 at most for an S1 old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing. |
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