Can someone tell me if Bitmain Tech is reliable ... will i receive my shipment
We are worried to order because of the payment methods ...
Please let me know what you think.
Thanks !
Topic: ANTMINER S7 is available at bitmaintech.com with 4.86TH/s, 0.25J/GH - page 380. (Read 528055 times)
September 03, 2015, 05:36:31 PM
September 03, 2015, 04:34:59 PM
It is all relative to btc price. If you start your investment with $$, then you would not mind 20% diff increase as long as the price increased 30-300% in the same time period, right?
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
Not necessarily.
If you buy a miner for 2 bitcoins when bitcoin is at $200 your total cost is $400. The difficulty increases until it is no longer profitable to mine. You end up mining 1.5 bitcoin but the price is now $400. You say, hey I now have $600 when I started with $400, so I made money. But if you look at the return of bitcoins, you just lost money because you started with 2 and now have 1.5.
I always start with $$, for example I use Coinbase instant purchase to buy bitcoin, then immediately buy miner.
In such case I think of that purchase as if it was made in $$, although technically I used bitcoin as an intermediary between $$ and purchasing of the miner.
I agree that it does not work this way, for example, if you used previously mined bitcoin (say, those 2 bitcoins in your example), unless you re-filled your bitcoin stash using cash as soon as you spent it on miner, as previous poster said.
You can say: why don't you simply buy bitcoin and then make profit when it rises?
the advantage of mining is that you are basically purchasing bitcoin slowly, therefore averaging out all ups and downs.
September 03, 2015, 04:21:52 PM
It is all relative to btc price. If you start your investment with $$, then you would not mind 20% diff increase as long as the price increased 30-300% in the same time period, right?
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
Not necessarily.
If you buy a miner for 2 bitcoins when bitcoin is at $200 your total cost is $400. The difficulty increases until it is no longer profitable to mine. You end up mining 1.5 bitcoin but the price is now $400. You say, hey I now have $600 when I started with $400, so I made money. But if you look at the return of bitcoins, you just lost money because you started with 2 and now have 1.5.
September 03, 2015, 04:18:43 PM
Good rigs,but i am in need of s5+ as i don't have costly electricity,i prefer s5+ with more Th and less price.
September 03, 2015, 04:07:03 PM
It is all relative to btc price. If you start your investment with $$, then you would not mind 20% diff increase as long as the price increased 30-300% in the same time period, right?
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
What we have, on the other hand, is stable (last 7 mo) or declining (last 20 mo) btc price, while difficulty is still rising.
We have a distorted market because market participants don't have equal free excess to mining equpment as many manufactureres don't even make such equipment available at any price.
In other words, the stakes are against home miners, this is clear.
September 03, 2015, 03:49:41 PM
I actually think the other companies will hit the network hard with a lot of hash at less than 0.12 per GH/s to push out a lot of miners. It will be rough in the beginning for them but they will ultimately push everyone out. The chances of them doing this during the winter is not as good as this coming spring. So, if people are going to continue mining, this winter may be their final opportunity to do it at this low of difficulty. I can see 90+ billion in difficulty quite easily by spring time with the new rigs about to hit the network.
Oh how the the times have changed. 90+ billion difficulty is only a 90% increase and this is in more than 6 months. We used to have 100% increases every month back in the good days
I agree. In the fall of 2013, the difficulty was increasing 35% each time. And so was the price so it was all good around. Sadly, those days are long gone.
September 03, 2015, 03:46:37 PM
I actually think the other companies will hit the network hard with a lot of hash at less than 0.12 per GH/s to push out a lot of miners. It will be rough in the beginning for them but they will ultimately push everyone out. The chances of them doing this during the winter is not as good as this coming spring. So, if people are going to continue mining, this winter may be their final opportunity to do it at this low of difficulty. I can see 90+ billion in difficulty quite easily by spring time with the new rigs about to hit the network.
Oh how the the times have changed. 90+ billion difficulty is only a 90% increase and this is in more than 6 months. We used to have 100% increases every month back in the good days
September 03, 2015, 03:27:50 PM
Love the colored power cables.
September 03, 2015, 01:43:42 PM
[...]
Sounds like you have the security taken care of. I will have similar security as well. I only hope I don't have to do it at multiple sites. My wife is staying home in Alabama for the first 4 to 6 months. She's very supportive of our mining aspirations. As it sounds like your wife is supportive as well. It's good to have that support.
Sounds like you have the security taken care of. I will have similar security as well. I only hope I don't have to do it at multiple sites. My wife is staying home in Alabama for the first 4 to 6 months. She's very supportive of our mining aspirations. As it sounds like your wife is supportive as well. It's good to have that support.
Yeah, having your wife be your best and foremost partner helps a lot! Especially because when sacrifices have to be done (think getting loans, late-hours miner configuration, etc) they are there to help and move things along!
Mine truly is my best friend and partner in life. As for loans, we are trying to do this without loans. Hence, only 50 to 55 rigs starting out when arriving in Washington State. I may consider a loan after 6 months out there. At the moment, I'm just hoping the difficulty doesn't go crazy between now and then with the price of bitcoin remaining the same.
I'll chill out now with the somewhat off topic communication.
September 03, 2015, 01:01:06 PM
[...]
Sounds like you have the security taken care of. I will have similar security as well. I only hope I don't have to do it at multiple sites. My wife is staying home in Alabama for the first 4 to 6 months. She's very supportive of our mining aspirations. As it sounds like your wife is supportive as well. It's good to have that support.
Sounds like you have the security taken care of. I will have similar security as well. I only hope I don't have to do it at multiple sites. My wife is staying home in Alabama for the first 4 to 6 months. She's very supportive of our mining aspirations. As it sounds like your wife is supportive as well. It's good to have that support.
Yeah, having your wife be your best and foremost partner helps a lot! Especially because when sacrifices have to be done (think getting loans, late-hours miner configuration, etc) they are there to help and move things along!
September 03, 2015, 12:51:23 PM
[...]
Multi site i do not envy an outage like you mentioned. Also on mine I have security system with cameras. Would get expensive to add some things like that it seems if you spread through to many places.
Multi site i do not envy an outage like you mentioned. Also on mine I have security system with cameras. Would get expensive to add some things like that it seems if you spread through to many places.
Cameras and biometrics on each site (as my usual business line covers those two areas), except for the "home" site which i just have a camera and a good wife taking care of the miners hehehehe
Sounds like you have the security taken care of. I will have similar security as well. I only hope I don't have to do it at multiple sites. My wife is staying home in Alabama for the first 4 to 6 months. She's very supportive of our mining aspirations. As it sounds like your wife is supportive as well. It's good to have that support.
September 03, 2015, 12:46:41 PM
[...]
Multi site i do not envy an outage like you mentioned. Also on mine I have security system with cameras. Would get expensive to add some things like that it seems if you spread through to many places.
Multi site i do not envy an outage like you mentioned. Also on mine I have security system with cameras. Would get expensive to add some things like that it seems if you spread through to many places.
Cameras and biometrics on each site (as my usual business line covers those two areas), except for the "home" site which i just have a camera and a good wife taking care of the miners hehehehe
September 03, 2015, 12:43:29 PM
[...]
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
I've gone the route of multisite mining... Having one dense spot of miners is overkill for most.... However, multisite is a PITA when you have outages and such.
That's what I might have to do in Washington State. However, I'm hoping I'll be able to avoid this.
September 03, 2015, 12:30:46 PM
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
I was thinking about increasing the power here at the house to 400 amps service. I had the power company come by to have a look at my feeder cable to see if it was large enough for the upgrade without replacing the feeder cable. He said the existing cable was good enough for 500 amps max.
However, I decided I prefer to move to Washington State if the difficulty doesn't get out of hand with price of bitcoin still low. If price of bitcoin gets higher to offset the difficulty rise, I'm fine with it.
Edit: I'm actually running 150 amps during the winter when I had the other rigs going. I couldn't do it during the summer when the AC wanted to come on. The main breaker would trip... lol
I could only do 120 amps during the summer. Which meant I never had the dryer on at the same time as the cook top/oven while the AC was running. The main breaker would trip. Then I just got to the point where I would cut of one or two S4's if I absolutely had to cook and dry clothes at the same time.
September 03, 2015, 12:25:33 PM
Thank you for posting! I do remember your setup man is it very very nice!
Those amazing pictures jogged my memory. Good luck on your last auctions!
Thank you, notlist3d. Mighty kind of you to say. Hopefully, these last 3 sell fine without another hick up.
September 03, 2015, 12:21:57 PM
Damn, I wish I had room for that many.. How about I buy into the 41-46 order? Aka. you host a couple for me? ^^
Sorry, I will not be hosting. I will not have the power I desire when first starting out for hosting. Maybe later on.
Also, if the difficulty is fine and I buy the other 41 to 46 S7's, I will be moving to Washington State. Meaning, I will no longer have the same setup you see in the pics.
September 03, 2015, 12:20:53 PM
[...]
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
I've gone the route of multisite mining... Having one dense spot of miners is overkill for most.... However, multisite is a PITA when you have outages and such.
For me I have a high quality network equipment at one site. With 100 amp for mining. That has been more then enough for me for winter.
Multi site i do not envy an outage like you mentioned. Also on mine I have security system with cameras. Would get expensive to add some things like that it seems if you spread through to many places.
September 03, 2015, 12:18:40 PM
Cant wait to see your new setup dmwardjr 
I WILL TAKE THE PICS DOWN IN A COUPLE OF HOURS MODERATOR...
There won't be much change other than gear. I sold all of the S3's, S3+'s, S4's, S5's and SP20's. Well, I still have two S5's and one S3+ remaining but their auctions end in 3 days. I had to re-list them. That was a bad number to re-list after 44 auctions. Only 3 of them didn't pay because they were all zero feedback winners who did not pay. Hopefully, I don't have zero feedback eBayer's win any of these last 3 auctions.
Here's a pic of what "was." [The S5's were not available yet when this picture was taken]. That is NOT burn marks on the wall. That is where I painted cast iron staircase spindles against the wall.
Thank you for posting! I do remember your setup man is it very very nice!
Those amazing pictures jogged my memory. Good luck on your last auctions!
September 03, 2015, 12:05:05 PM
Cant wait to see your new setup dmwardjr
I WILL TAKE THE PICS DOWN IN A COUPLE OF HOURS MODERATOR...
There won't be much change other than gear. I sold all of the S3's, S3+'s, S4's, S5's and SP20's. Well, I still have two S5's and one S3+ remaining but their auctions end in 3 days. I had to re-list them. That was a bad number to re-list after 44 auctions. Only 3 of them didn't pay because they were all zero feedback winners who did not pay. Hopefully, I don't have zero feedback eBayer's win any of these last 3 auctions.
Here's a pic of what "was." [The S5's were not available yet when this picture was taken]. That is NOT burn marks on the wall. That is where I painted cast iron staircase spindles against the wall.
Here it is now with my last two S5's and one S3+. This mining closet is itching for some new HW. You might notice the grilles installed in the door on the side where I had most of my rigs. It worked out quite well with the 14,400 CFM exhaust fan suck air through those grilles into the rigs.
Here is a pic of the outside of it:
September 03, 2015, 11:59:36 AM
[...]
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
How are you hosting that many? I felt like i was decent on mining with my 100 amp mining setup.... but dang 50+ of these things. That is a lot of power.
I've gone the route of multisite mining... Having one dense spot of miners is overkill for most.... However, multisite is a PITA when you have outages and such.
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