Topic: ANTMINER S7 is available at bitmaintech.com with 4.86TH/s, 0.25J/GH - page 63. (Read 528055 times)

This is probably the best analogy i've read just yet but yes.

Man I just seen this 20% difficulty jump Feb 6th I wonder if these rises are sustainable

Nov 11  ph = 471

Feb 6 ph    =  1000+

What happened ?










3000 on https://blockchain.info/tx/13ef64ff1b8213c87c810c7181ec4838b1e372c5361a23177c34b1e449d7145f

I'm on board with this to be honest. I'd like to see where everything is at once the halving hits.. There is no way to make ROI on anything you buy now before the halving, and who knows what will happen then. Too risky.

Well I think this should teach people to wait and not be first at this point. Also, I don't plan on getting any more miners until halfing happens at this point. Time to just save up the BTC and see if the price rises enough to have made that a smart move... fingers crossed.

people keep buying them.  but as a point of reference this growth has very little to do with bitmaintech or  avalon

give me about five minutes to show what I mean.

avalon6 sales blockC usa

https://blockchain.info/address/127J5mDr4cGtSuNt2iJ1V673kyZRrkQSs3



s-7 sales  start on aug 25 or so this year

https://blockchain.info/address/1KwA4fS4uVuCNjCtMivE7m5ATbv93UZg8V

87500 btc  

so start for s-7 is here

https://blockchain.info/address/1KwA4fS4uVuCNjCtMivE7m5ATbv93UZg8V?offset=6450&filter=0

Nov 11 2015   65,848,255,180   5.77%   471,360,171 GH/s

1747 on https://blockchain.info/tx/292e7206beb07c339e0bd127dfe019793157b637919b743083f4afbbb9ed056e
1600 on https://blockchain.info/tx/b9b89cd526e237273dd262234565486be7532d831575fa9e3fcb1b83e6a7b8f2
  482 on https://blockchain.info/tx/2c9cead6c31f2c53b6b29509fe7cae9974ff9546d1b7b2d7f38be60c73d8bbe2
2738 on https://blockchain.info/tx/8d87345dae2e5ab7f0b05a24b5352ed08e156bb601d49b0a2daab2fc6ab37341
1012 on https://blockchain.info/tx/a4c3d3d535f47e32f8284da895e955a2634400041d5cdd3b27cee24744089623
 790  on https://blockchain.info/tx/497b3b4c17a65df19dc0f25fe02508411f2fcb9e2140b933477b946af7625cd0
 774  on https://blockchain.info/tx/2c50a08c77e73a9070c1c3bd9436386a4633ba0dc2f7345d394d14cab9351dff
2182 on  https://blockchain.info/tx/7e4f8c5e8b913c6c7f2f871e99ea282fbfad06cebcd58c91af7dbcc2646aa92c
  901 on https://blockchain.info/tx/86d2223c7373d5340e5ecba4646e57349d7996c50e3279942f4c64007944b444
1361 on https://blockchain.info/tx/f01e9e1f1597a1458954a2c567d4b88ea5c9b22401a936bb4dca186505f7fc87
 804 on  https://blockchain.info/tx/cddd84c08decf0491467bac361e591a7c5c51f6c0325bc64012dd04c3d1ae159
1628 on https://blockchain.info/tx/00ffa0b896444b146f23dab0380e44b06ae076f03dca6be5cda5fd04212e5727
2029 on https://blockchain.info/tx/b974bf806a7012dfe0715fce48c4cd56501fadc62e7a5e9c2367720c4b3d36f1



so 18,048  btc in sales from aug 30 to Nov 11  gear was about 5 btc as an average so 3600 s-7's round up to 4000 and the hash added is
 19.2 ph    the net grew from  407 ph to 471 ph    all not bad.  I will post on after nov11 growth later

This si because BITMAIN s own greed.they sold thousands and thousands of S7 and they are still producing even more.this is why the huge increase in diff.they should have sold only a few batches and then stop production until S9...

Printer is out of ink, that's all.  Time to refill it.  =)  Oh wait, the ink cost more than the printer...............they got me!!!

??

1) Kind of. If you bought a batch 1-7 that is now at a loss, shame on you.

2) Ok

3) Uh, yeah. OK. Nevermind.

Its because everybody wants to have a money printing machine -that's why we all got sucked into it.

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.

Thanks, so it does seem 731M is worth the small wattage increase for the extra 200GH+.  Appreciate the test, this confirms my belief.

Let's calculate a bit...

S7 B1 was 1823 USD
In the middle of september 2015 price of BTC was ~230USD that means B1 costs 7.92BTC
At the end of september difficulty was 60,813,224,039 at 4.86Th that translates to 1.206 BTC/month or 6.5 months of ROI with free electricity and zero diff increases - this is a guaranteed non ROI numbers.
That means your analytic skills sucks big time, sorry

so you included resale value to your ROI calculations? that was a mistake...

bitmain made a huge markup on a relatively simple piece of electronics, it was clear such price won't last long

Because the cost of printing another new round of old chips is more than the chips can sell for. They can print a round of newer chips for almost the same price, and they are better chips. In this hyper-inflation market, the cheapest wins. Even at an inflated cost.

Even the new chips are barely turning a profit. Why make more of the old chips at a loss?

i put the miner in the window and here are the results:

1375watt at 225volt, fan at 70%

temps 27, 26, 30 ambient: Temperatura acum: -0.9 ˚C

5m9s      5,148.56      4,910.36

6m12s    5,185.98      4,952.81

7m21s    5,195.43      4,983.65

8m42s    4,832.80      4,955.82

10m46s  4,738.82      4,940.59

12m39s  4,828.41      4,931.71


HW 48   0.0065%  0.0066%

Miners have always started out at a high price for the first - second batches. Hell my s2 bought as soon as they came out was around $1,750 as I recall. Just before they were stopped to make way for the s3's the S2 price was around $1k. Most extreme was Bitmain's s1. Intro price in Nov/Dec 2013 was over $2,000. When I got into mining in late Feb 2014 they were still around $1750 direct from Bitmain (and is why I got bit by the AMT scam for A1 miners). I still did not buy in. But - by late March - I could get new s1's through Amazon for $750. That started my farm. Last s1 I bought direct from Bitmain was around what, $225?

Same applies to PC's. Want the latest CPU/MoBo/GPU and you pay mega top-dollar. Give it few months and prices drop dramatically (for the same components). Mainly happens so Intel/AMD/whoever can recupe their dev costs as fast as possible.  Once those are at least mostly paid for then they can drop the price and now make profit off of volume. Just like the miner makers they know a ton of folks will pay premium prices for latest/greatest when it comes out.

Only difference is that the mining ASIC makers don't seem to think that there is a market for chips after a new gen comes out whereas CPU's and such may soon be outclassed by new ones but - the end user market mostly does not care so chips are used and made for years. Personally I would LOVE to see Bitmaintech or BitFury sell prev gen chips after new ones come out. I mean why not??? They should be almost pure profit considering all the production steps and setup costs have been paid for...

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.

you could look at the larger scale and see its exponential growth, doubling every 3-6 months. If you bought the S7 thinking difficulty wasnt going to go up, you were crazy.

It happened with the S1, the S3, the spondoolies Sp3X, and with the s5. every new generation of hardware and better efficiency is constantly replacing the old gear. you didnt buy an S1 right? you knew the s7 was the one that could make money.

and the price went down a lot in bitcoin (>50%) but in dollars only about 20% due to USD/BTC
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Oh trust me, I've been mining long enough to understand how difficulty spikes are to be expected. And in all honesty, I'm not even complaining about the new hashing power (I was discussing that because the other guy said I didn't know how to properly calculate difficulty raises as it relates to my ROI).

My single frustration is about bitmain lowering the price for the s7 to half of what I paid less than 3 months ago.

Case in point, I paid $5,154.42 for 3 batch 7 units that shipped on 11/27/15. Including shipping, that's $1,718.14 per unit.
I also paid $4,677.23 for 3 batch 8 units that shipped on 12/9/15. Including shipping, that's $1,559.07 per unit.

Less than 60 days after the shipping of my batch 8 units, batch 10 units are selling (before shipping) at $805.04 per usd (based on current btc to usd ratio).

Am I the only one that thinks bitmain is turning their backs on the miners for doing this? I truly could not sell my batch 7 or 8 miners at a breakeven at the moment, even if I factor in how much btc I've made in the last 60 days, because they're still selling units.

When has bitmain ever lowered price by 50% in subsequent batches of miners in less than 60 days and kept selling batches in the past? In my experience, antminers usually sold out quickly, and there was a limit to production. They kept price consistent. The other antminers didn't decrease in value by more than 50% in less than 60 days, like what's happening right now.

Well, when the s7 came out, it was not overpriced. Hence, I did not buy an overpriced miner, given the timeframe. It only became an overpriced miner when bitmain decided to sell the same unit for half the price less than 3 months later. And yes, I can blame bitmain for poisoning the resale well, because no one who bought a miner when the s7 first came out would have ever thought that bitmain would lower the same price on the same miner to half in less than 3 months.

Who would want to buy an s7 at my breakeven price? I can't sell it for a breakeven price on ebay if I wanted to, because bitmain is selling a brand new unit for less on their own website, with a brand new warranty. Do you see my frustration now?

And when it comes to predicting realistic ROI time, who could have predicted the bitcoin network would jump from 471 petahashes on november 11th, to 1,066 petahashes as of today (less than 3 months later)?

To give you an idea on the massive increase in hashing power in 3 months alone, on April 29th, 2014, the bitcoin network had 57 petahashes. On that same date in 2015, the network was at 340 petahashes - it took an entire year to gain slightly less than 300 petahashes in power.

Fast forward to August 8th, 2015 - the network was at 377 petahashes.

less than 5 months later, we are almost triple that.

Between the bitcoin whitepaper coming out in 2008, until August 8th, 2015... it took 7 years to get to 377 petahashes. And we tripled all of the hashing power that took 7 years to build, less than 5 months after that point.

So you tell me how someone could accurately predict something like that?
[/quote]

you could look at the larger scale and see its exponential growth, doubling every 3-6 months. If you bought the S7 thinking difficulty wasnt going to go up, you were crazy.

It happened with the S1, the S3, the spondoolies Sp3X, and with the s5. every new generation of hardware and better efficiency is constantly replacing the old gear. you didnt buy an S1 right? you knew the s7 was the one that could make money.

and the price went down a lot in bitcoin (>50%) but in dollars only about 20% due to USD/BTC

731M is a bit too much for me! Might try it, no promise

Send me a PM with some links to pics with speed above 731 to convince me