£16,000 ($23,209) for profitable Bitcoin Mining farm?

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Koamder on February 20, 2016, 01:05:49 PM

Quote from: notlist3d on February 20, 2016, 05:19:14 AM

Quote from: Amph on February 20, 2016, 03:23:47 AM

Quote from: Vociferous on February 19, 2016, 05:06:49 PM

When do you think the S8's will be released? What are the next gen miners? SP50s and S8's?

there is no info at all about this, nor that it will be called s8, nothing is telling us that they will continue with the next number, in fact the s6 does not exist

based on some other thread it seems that there is the possibility of an increased efficiency of 75%+, 750 watt instead of 1200 for something that is as fast as one s7

The even number have all been big miners with PSU's attached. I agree I have heard 0 about next gen bitmain they are pretty good at keeping secrets. But I don't expect a S8. I think day's of even ones are over. I am still wondering if we will see a S7+.

Most likely will be a S9 I'm guessing. And I think they keep 3 hashing board design as I think they made good money off of PSU sales.... was really smart of them on that as far as business decision.

I think their PSU is quite good value as well. That is the reason why it is being sold quite a lot of units.

It was a good sales tactic no doubt about it. The PSU is rated pretty well as far as efficiency.. so hard to complain on that. I would like to see how many they have sold.

I think it was likely a huge sales boost as a lot that order a S7 order one PSU. So means even more profit for them. There are some other good server PSU's out there to but bitmain provides convince of all in one place.

Koamder

full member

Activity: 238

Merit: 100

Quote from: notlist3d on February 20, 2016, 05:19:14 AM

Quote from: Amph on February 20, 2016, 03:23:47 AM

Quote from: Vociferous on February 19, 2016, 05:06:49 PM

When do you think the S8's will be released? What are the next gen miners? SP50s and S8's?

there is no info at all about this, nor that it will be called s8, nothing is telling us that they will continue with the next number, in fact the s6 does not exist

based on some other thread it seems that there is the possibility of an increased efficiency of 75%+, 750 watt instead of 1200 for something that is as fast as one s7

The even number have all been big miners with PSU's attached. I agree I have heard 0 about next gen bitmain they are pretty good at keeping secrets. But I don't expect a S8. I think day's of even ones are over. I am still wondering if we will see a S7+.

Most likely will be a S9 I'm guessing. And I think they keep 3 hashing board design as I think they made good money off of PSU sales.... was really smart of them on that as far as business decision.

I think their PSU is quite good value as well. That is the reason why it is being sold quite a lot of units.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on February 20, 2016, 03:23:47 AM

Quote from: Vociferous on February 19, 2016, 05:06:49 PM

When do you think the S8's will be released? What are the next gen miners? SP50s and S8's?

there is no info at all about this, nor that it will be called s8, nothing is telling us that they will continue with the next number, in fact the s6 does not exist

based on some other thread it seems that there is the possibility of an increased efficiency of 75%+, 750 watt instead of 1200 for something that is as fast as one s7

The even number have all been big miners with PSU's attached. I agree I have heard 0 about next gen bitmain they are pretty good at keeping secrets. But I don't expect a S8. I think day's of even ones are over. I am still wondering if we will see a S7+.

Most likely will be a S9 I'm guessing. And I think they keep 3 hashing board design as I think they made good money off of PSU sales.... was really smart of them on that as far as business decision.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Vociferous on February 19, 2016, 05:06:49 PM

When do you think the S8's will be released? What are the next gen miners? SP50s and S8's?

there is no info at all about this, nor that it will be called s8, nothing is telling us that they will continue with the next number, in fact the s6 does not exist

based on some other thread it seems that there is the possibility of an increased efficiency of 75%+, 750 watt instead of 1200 for something that is as fast as one s7

Vociferous

newbie

Activity: 29

Merit: 0

When do you think the S8's will be released? What are the next gen miners? SP50s and S8's?

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on February 19, 2016, 03:19:42 AM

Quote from: Koamder on February 18, 2016, 06:34:39 AM

Quote from: Beraturker on February 17, 2016, 07:43:58 PM

Wait for the 16nm Chips..

I think the price of the 16 nm will be very high. They will be priced slightly better than S7. Even if you can ROI, it will take long time.

it was the same for s7 it was very high at launch, but there was people willing to buy it at even higher price

so if you can do the same trick of trading directly your miners after a few week of mining before any other, it will be worth it

Also depends on where you go with it. Ebay at start can bring HUGE premiums, but it can have scammers and be a pain. I was doing great on all my sales of last gen.

But a week later... get the dreaded email they say they cant mine with a S5+. Had trouble getting a anwser back from them for 3 day's on what was going on. Not sure what changed but they then said they switched PSU and worked. But it appeared for a few day's I was going to have to deal with a "bad buyer"

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Koamder on February 18, 2016, 06:34:39 AM

Quote from: Beraturker on February 17, 2016, 07:43:58 PM

Wait for the 16nm Chips..

I think the price of the 16 nm will be very high. They will be priced slightly better than S7. Even if you can ROI, it will take long time.

it was the same for s7 it was very high at launch, but there was people willing to buy it at even higher price

so if you can do the same trick of trading directly your miners after a few week of mining before any other, it will be worth it

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Vociferous on February 18, 2016, 06:43:55 AM

I literally can only think the only way of breaking even and making profit in a year is to get a business grant, which is non re-payable for a business start up, using that to buy second hand S1's or S5's on Ebay and then installing solar panels for summer and wind turbines for Winter. That's ASSUMING you get full electricity provided by the renewable energy devices and assuming you are not renting the land/property to do it. You would then make approximately 20% profit. hahahahaha. I would consider it, but my dad won't let me put the solar panels on his roof! Sad

what a chode!!!!!!

Solar is to expensive though in most cases. Look at the price and how it's a drop in the bucket for some hobby miners. It's just hard to have a lot of watt's of gear let's say even 10k watts.... you have quite the investment in solar.

And this not a quick investment your talking 10+ years likely to pay off if everything runs right. Which is very long term compared to bitcoin mining. Some will do solar yes... but that initial cost is hard to do. Compare it to cheap electricity those with very cheap electricity almost always win.

Vociferous

newbie

Activity: 29

Merit: 0

I literally can only think the only way of breaking even and making profit in a year is to get a business grant, which is non re-payable for a business start up, using that to buy second hand S1's or S5's on Ebay and then installing solar panels for summer and wind turbines for Winter. That's ASSUMING you get full electricity provided by the renewable energy devices and assuming you are not renting the land/property to do it. You would then make approximately 20% profit. hahahahaha. I would consider it, but my dad won't let me put the solar panels on his roof! Sad

what a chode!!!!!!

Koamder

full member

Activity: 238

Merit: 100

Quote from: Beraturker on February 17, 2016, 07:43:58 PM

Wait for the 16nm Chips..

I think the price of the 16 nm will be very high. They will be priced slightly better than S7. Even if you can ROI, it will take long time.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Beraturker on February 17, 2016, 07:43:58 PM

Wait for the 16nm Chips..

Wait for how long? What will price be on these? Will smaller miners have to wait for a while to actually get them after big operations? And how close to having do we have to wait till?

So many questions and no answers. Waiting till 16nm sounds good but in reality there is just to much unknown to say what is best. And really some people are always waiting on the next gen, and they never seem to buy.

Beraturker

sr. member

Activity: 308

Merit: 250

Wait for the 16nm Chips..

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on February 17, 2016, 03:34:40 AM

Quote from: notlist3d on February 16, 2016, 10:19:49 AM

Quote from: Koamder on February 16, 2016, 06:39:11 AM

It is quite profitable to mine Ethereum at the moment. But the price is dropping at the moment. Mining is a risky business.

BTC vs Ethereum is like apples and oranges. BTC is being mined by huge asics, and other is more GPU miner territory I believe. So your comparing the main currency to a alt.

Yes alt coin's can go up fast, but they can go down just as fast. Maybe suggest OP to try a few altcoin's for fun. But I HIGHLY suggest keeping BTC as main currency unless you like risk.

well it's only mining, gpu does not become obsolete like asic, if the alt that you were mined die, for example, you cna always re-direct it to another alt(not bitcoin or the one with high diff, but still plenty of choice)

or simply leave the mining scene without any damage on your pocket, because gpu can also be used for gaming

I consider GPU mining dead already. Most will spend more in electricity then it brings in, so that is not good. The ones that do profit will not ROI on the card, which again is not good.

So unless you bought card got lucky on coin, and sold cards I don't see a true ROI happening. Just too pricey on gear for what it makes.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: notlist3d on February 16, 2016, 10:19:49 AM

Quote from: Koamder on February 16, 2016, 06:39:11 AM

It is quite profitable to mine Ethereum at the moment. But the price is dropping at the moment. Mining is a risky business.

BTC vs Ethereum is like apples and oranges. BTC is being mined by huge asics, and other is more GPU miner territory I believe. So your comparing the main currency to a alt.

Yes alt coin's can go up fast, but they can go down just as fast. Maybe suggest OP to try a few altcoin's for fun. But I HIGHLY suggest keeping BTC as main currency unless you like risk.

well it's only mining, gpu does not become obsolete like asic, if the alt that you were mined die, for example, you can always re-direct it to another alt(not bitcoin or the one with high diff, but still plenty of choice)

or simply leave the mining scene without any damage on your pocket, because gpu can also be used for gaming

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Koamder on February 16, 2016, 06:39:11 AM

It is quite profitable to mine Ethereum at the moment. But the price is dropping at the moment. Mining is a risky business.

BTC vs Ethereum is like apples and oranges. BTC is being mined by huge asics, and other is more GPU miner territory I believe. So your comparing the main currency to a alt.

Yes alt coin's can go up fast, but they can go down just as fast. Maybe suggest OP to try a few altcoin's for fun. But I HIGHLY suggest keeping BTC as main currency unless you like risk.

Vociferous

newbie

Activity: 29

Merit: 0

Quote from: notlist3d on February 16, 2016, 04:24:47 AM

Quote from: Xialla on February 16, 2016, 04:02:35 AM

Quote from: Vociferous on February 14, 2016, 01:05:59 PM

I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k

dude, if you are interested about bitcoin and new to all this, buy them directly from some reputable exchange.

mining is not for guys like you anymore, unless you are not in China and you don't know ASIC manufacturers. if you really want to mine, buy raspberry pi as controller and some cheap old ASIC and play with it but my honest advice: don't buy any mining gear for thousands of dollars..

95 percent I'm guessing of these threads don't ever lead to a investment. It's like "Here I might spend X amount go do my research". It does seem he realizes it's hard from other posts.... but now he's going even bigger in calculation.

Quote from: Vociferous on February 15, 2016, 05:13:57 PM

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?

So I predict we can leave this thread alone as I don't think OP will invest.

I hate that I can only reply every 30 minutes or something! Anyway, you know nothing Jon Snow! (joking). Yes, it seems small miners to be not profitable. I am still going to draw up a business plan and see if I can get any banks interested though for a large mine. But yeh, I don't think I will invest really.

Koamder

full member

Activity: 238

Merit: 100

It is quite profitable to mine Ethereum at the moment. But the price is dropping at the moment. Mining is a risky business.

Vociferous

newbie

Activity: 29

Merit: 0

Quote from: Xialla on February 16, 2016, 04:02:35 AM

Quote from: Vociferous on February 14, 2016, 01:05:59 PM

I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k

dude, if you are interested about bitcoin and new to all this, buy them directly from some reputable exchange.

mining is not for guys like you anymore, unless you are not in China and you don't know ASIC manufacturers. if you really want to mine, buy raspberry pi as controller and some cheap old ASIC and play with it but my honest advice: don't buy any mining gear for thousands of dollars..

Yeh, that's quite true. As I said before, I need to research it more.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Xialla on February 16, 2016, 04:02:35 AM

Quote from: Vociferous on February 14, 2016, 01:05:59 PM

I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k

dude, if you are interested about bitcoin and new to all this, buy them directly from some reputable exchange.

mining is not for guys like you anymore, unless you are not in China and you don't know ASIC manufacturers. if you really want to mine, buy raspberry pi as controller and some cheap old ASIC and play with it but my honest advice: don't buy any mining gear for thousands of dollars..

95 percent I'm guessing of these threads don't ever lead to a investment. It's like "Here I might spend X amount go do my research". It does seem he realizes it's hard from other posts.... but now he's going even bigger in calculation.

Quote from: Vociferous on February 15, 2016, 05:13:57 PM

Hey guys,

So for example:

Initial investment £206,400 = 300 x S7 miners = 1419 TH/S = £19918 per month (pm)

£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.

SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.

During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?

So I predict we can leave this thread alone as I don't think OP will invest.

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

Quote from: Vociferous on February 14, 2016, 01:05:59 PM

I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k

dude, if you are interested about bitcoin and new to all this, buy them directly from some reputable exchange.

mining is not for guys like you anymore, unless you are not in China and you don't know ASIC manufacturers. if you really want to mine, buy raspberry pi as controller and some cheap old ASIC and play with it but my honest advice: don't buy any mining gear for thousands of dollars..

Topic: £16,000 ($23,209) for profitable Bitcoin Mining farm? (Read 2544 times)