Bitmain sells S7s for the price the market will buy at. Its capitalism 101. Don't be mad, its the way of the world that we live in.
Got it. So shame on me, and everyone else who bought a batch 1-7 from buying, because Capitalism. Spare me the economics lesson kind sir.
My argument isn't "I'm hopping mad because I spent too much money."
No, I'm saying "we're all fools, and Bitmain is ruining the industry." And they're ruining it in the exact same way you tried to school me - "Bitmain sells S7s for the price the market will buy at. Its capitalism 101."
Even if that price means a 50% discount within 2 months.
If we were talking about anything other than a unit which is meant to consistently create an economic product for the owner, then I'd be totally on the same page with you. But the S7 has made me realize that the smartest people in the room are the ones who stopped home mining, and never bought an s7 in the first place.
Bitcoin mining is NOT scalable. And certainly not profitable. And with equipment already obsolete in less than 60 days - with impaired ability to resell for a reasonable price, not something you can really maintain (unless you like losing money for a loud heater in your room).
It's game over folks. The S7 is the destruction of the hobby miner.
sadly, i have to agree with you,
i had to stop buying new mining rigsthis already happen few times
because difficulties is WORSEN not to mention import tax, and other equiptment, also internet cost
when i bought S3+, since september2014 i can't BEP,
i bought S5 April2015, also cannot BEP
i bought S7 batch7 December2015, now i believe im in big trouble because bitmain discount 50% + difficulties
is it only me or all of us having same problems..?there is NO OTHER WAY to profit in mining, NOT EVEN with FREE ELECTRICITY
Every year, the sum of difficulties spike is ALMOST ALWAYS +120%, that means average 10%/month in random I think you are having some trouble with math or english "the sum of difficulties spike is almost always +120%"
does not make a lot of sense. Not your fault as these numbers are amazing.
The problem is the last 101 days look at this chart and compare the 101 days to the 404 days before that.
The last 101 days are really fucking bad and on top of that wicked bad increase we are going up 25%
so that 2.322 x 1 101 days
will become 2.902 x 1 in 107 days!!
https://bitcoinwisdom.com/bitcoin/difficultyDifficulty History
Date Difficulty Change Hash Rate
Feb 07 2016 144,116,447,847 20.06% 1,031,625,717 GH/s
Jan 26 2016 120,033,340,651 5.89% 859,232,121 GH/s
Jan 13 2016 113,354,299,801 9.12% 811,421,684 GH/s
diff of 62 to 144 is a 2.322 x 1 increase inDec 31 2015 103,880,340,815 11.16% 743,604,444 GH/s
101 daysDec 18 2015 93,448,670,796 18.14% 668,931,642 GH/s
Dec 06 2015 79,102,380,900 8.77% 566,236,898 GH/s
Nov 24 2015 72,722,780,643 10.44% 520,569,941 GH/s
Nov 11 2015 65,848,255,180 5.77% 471,360,171 GH/s
Oct 29 2015 62,253,982,450 2.25% 445,631,364 GH/s
Oct 15 2015 60,883,825,480 0.12% 435,823,399 GH/s
Oct 01 2015 60,813,224,039 2.49% 435,318,014 GH/s
Sep 17 2015 59,335,351,234 4.17% 424,738,988 GH/s
diff of 34 to 62 is a 1.823 x 1 increase in 404 daysSep 04 2015 56,957,648,455 4.98% 407,718,729 GH/s
Aug 22 2015 54,256,630,328 2.95% 388,384,088 GH/s
Aug 08 2015 52,699,842,409 0.81% 377,240,166 GH/s
Jul 25 2015 52,278,304,846 2.35% 374,222,683 GH/s
Jul 11 2015 51,076,366,303 3.39% 365,618,871 GH/s
Jun 28 2015 49,402,014,931 -0.58% 353,633,397 GH/s
Jun 14 2015 49,692,386,355 4.42% 355,711,957 GH/s
May 31 2015 47,589,591,154 -2.50% 340,659,563 GH/s
May 17 2015 48,807,487,245 2.44% 349,377,603 GH/s
May 03 2015 47,643,398,018 0.07% 341,044,727 GH/s
Apr 19 2015 47,610,564,513 -3.71% 340,809,696 GH/s
Apr 05 2015 49,446,390,688 5.84% 353,951,052 GH/s
Mar 22 2015 46,717,549,645 -1.50% 334,417,246 GH/s
Mar 08 2015 47,427,554,951 1.59% 339,499,662 GH/s
Feb 22 2015 46,684,376,317 5.01% 334,179,783 GH/s
Feb 09 2015 44,455,415,962 7.71% 318,224,263 GH/s
Jan 27 2015 41,272,873,895 -6.14% 295,442,739 GH/s
Jan 12 2015 43,971,662,056 8.20% 314,761,417 GH/s
Dec 30 2014 40,640,955,017 3.00% 290,919,288 GH/s
Dec 17 2014 39,457,671,307 -1.37% 282,449,013 GH/s
Dec 02 2014 40,007,470,271 -0.73% 286,384,627 GH/s
Nov 18 2014 40,300,030,328 1.76% 288,478,854 GH/s
Nov 05 2014 39,603,666,252 10.05% 283,494,086 GH/s
Oct 23 2014 35,985,640,265 2.81% 257,595,247 GH/s
Oct 09 2014 35,002,482,026 0.98% 250,557,526 GH/s
Sep 25 2014 34,661,425,924 16.20% 248,116,151 GH/s
Sep 13 2014 29,829,733,124 8.75% 213,529,547 GH/s
Aug 31 2014 27,428,630,902 15.03% 196,341,788 GH/s
Aug 19 2014 23,844,670,039 20.86% 170,686,797 GH/s
Aug 08 2014 19,729,645,941 5.30% 141,230,307 GH/s
Jul 25 2014 18,736,441,558 8.08% 134,120,673 GH/s
Jul 12 2014 17,336,316,979 3.08% 124,098,191 GH/s
Jun 29 2014 16,818,461,371 24.93% 120,391,236 GH/s
Jun 18 2014 13,462,580,115 14.51% 96,368,902 GH/s
Jun 05 2014 11,756,551,917 12.44% 84,156,677 GH/s
May 24 2014 10,455,720,138 18.10% 74,844,960 GH/s
May 12 2014 8,853,416,309 10.66% 63,375,223 GH/s
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