Topic: ANTMINER S7 is available at bitmaintech.com with 4.86TH/s, 0.25J/GH - page 405. (Read 528055 times)

In 5 years will there be any more bitcoins to mine at the rate of technological advancement?

+1
I think the price is too high but efficiency of the miner is good.
maybe 5 more years and no more home miners, only big commercial miners.

Only way to 'not' be game over is if the network figures out someway to start punishing certain entities and singling them out to intentionally reduce their ROI and make them decentralize.  Namely by crippling them through increased difficulty intentionally.  Almost like breaking up monopolies or mega corporations.

Once manufacturers started large scale farming operations the writing started to get put on the wall.  And hence the increased focus on efficiency.  because if the market takes a tumble they can still keep their operational costs in check with ever increasingly efficient miners.  While the material cost of the miner has long since been paid off, hashnest selling mined coin etc.  It allows them to ride out the lows a lot easier then say someone with a S5 who is at half the efficiency level.  Never mind hashing power increase.

PS:  This is also starting to make me think a Proof of Share model vs Proof of Work model is going to be more important as time goes on.

Very, very, very high price. Game over for home mining I guess.

My thing is I think Bitmain is joining the big boys and then intend to look toward crushing the home industry.  It's going to be farm after farm after farm, with the only way a little person really making an ROI is if they go with the cloud mining which Is where they dictate the pennies they give you for up front capital.  And your return will probably depreciate faster than a normal investment vehicle.  One thing I give scrypt miners credit for.  Those guys are fighting back intentionally screwing with stuff to make ASIC hard to bring into their market space and make a decent product.  Or a product that could be screwed with and turned into a paperweight with a slight changing of the scrypt.  Even Bitmain had to kill their Scrypt miner project.  I have no doubt they will try again, but I also have no doubt the scrypt people will fight back again.

It's too bad - this chip could be used to make a great home miner. A 60 chip design like the S5 with the improvements they've made in cooling could probably run at about 1600-1700 gh/s somewhere between 0.6v and 0.66v and probably pull less than 400 watts from the wall. Cooling a miner like that would not be loud at all with good fans. That's not too far away from the S3 in terms of heat generated. And they'd probably sell easily for around BTC3.

The S5 has a limit of 35C. These are ambient temps, but I can see a data center getting higher than 40C and certainly higher than 35C without AC.

I'm sure there's many S5's that have been running at ambient temps above 35C in the past couple months. Any performance issues?

We don't know where voltage is set ... but the spec sheet lists 32.5 gh/s per chip at 0.66v. If that's where they're set, with 162 chips that comes to 5.265 th/s. This is pure speculation but that would seem like a logical limit for overclocking. But I don't fully understand (if I do at all) the differing effects that voltage and clock rate have on hashrate... hopefully someone that does can let us know if this is a reasonable assumption.

I'll have to ask my accountant more on that one.  But remember in the US you'd be playing with two different sets of rules.  You don't have to convince the Federal government, IRS, you're manufacturing.  You have to convince your local State/County you'd be manufacturing a product, even if it was etherial.  It's about getting that Meter in and making the Power company (local) charge you industrial rates.  And the way they word a lot of the light industrial space/manufacturing regulations 'ie used for the purpose of creating an asset and directly serves no customers' gives a lot of wiggle room to elbow your way though with sloppy zoning laws.  ANd the IRS definitely considers Bitcoin or any other cryptocurrency an Asset that must be reported and taken into account immediately as income if you mine.  Once you have access to it, they bluntly state it.  Then they hit you again with the one form of double taxation we haven't gotten rid of, capital gains, once you sell it.  I see it the same way as making a table and then selling that table at a gain or loss based on market prices. (with an extra cut on the side from the feds should you do better than expected)

You are totally correct you can call it a business.  And the reason that's important is because if it's a side business (sole proprietorship) while you have a normal day job you can pull those losses and expenses under your personal income taxes.  That means writing off electricity, miner costs, setup costs, ancillary expenses, accounting costs, if at home part of your MORTGAGE.  And if you're in the upper income brackets paying fat rates, you don't lose that personal or standard deduction filing under a 1040-C if you're not itemizing.  Makes the ROI shrink real quick.  Got to love the UCSA (United Corporate States of America).  I'm looking at the US government giving me 40 cents on the dollar back to everything I put into this for the rest of this year.  That's how bad my Fed/State/Local taxes are where I'm at.  That's a hell of a 'coupon' for start up costs.

If you get the same paperwork they sent with S5+ you might not "need" it as spec.  But they make sure you use it to keep warranty.   

We have not seen for sure but I bet they ship same paperwork and email it just like S5+'s on using 3.

 I do not need 9x 16 gauge cables for 1200 watts, I wonder how much this will over clock to?

Yeah I guess with their new individual heat sink design they are able to stuff in a third board per miner now.

Just tough to decide what will happen to difficulty once these come out and if at that new difficulty will you be able to ROI before the halving of the reward.

I would not spread this.  Yes likely 2 can do it if proper gauge.  But on S5+ they say and ship a paper with " There are 3 PCI-e connectors for +12V DC input on each hash board and ALL of the 3 are required".  They also emailed paper to make sure you know about it on S5+.

If you don't use 3 they consider it improper powering and it voids warranty on S5+ "b. Damage caused by electrical surges, lightning, or inadequate power supply;"

I imagine that you would probably be able to get away with just having 2 of them plugged in.  At least that's what I heard of the S5+

Edit:  Please don't listen to me and stay safe everybody!

I think people will mine with them for a month or two and then try to sell them quick for close to what they paid for them and ROI that way.

Operating Temp is really low 40C?  Other miners as well as bitmain units operated up to 60C.

That is only 104F or so.  Hope you got air conditioning or live in a northern region.

Yeah I wish I had 220-240 power in my house as well.

If it was a 2.6 th unit for ~$900, I would be tempted to buy 1 to play around with.

I am surprised they broke the 2 blade hashing we have seen.  I will say I love the S5+ design so I am happy they carried it over.   

Will be an interesting time to say the least.  I'm interested to see what comes.

Exactly.  I was expecting a 2.5th unit as well.  This is way over my price range once again.