It's the people selling the pick axes:
Though each of these guys and their companies are for the most part reputable, they're truly the minority that's benefitting from the mining scene.
Topic: any mining succeess stories so far? - page 2. (Read 4030 times)
Yea you want to know the true mining success stories out there?
It's the people selling the pick axes:
Though each of these guys and their companies are for the most part reputable, they're truly the minority that's benefitting from the mining scene.
It's the people selling the pick axes:
Though each of these guys and their companies are for the most part reputable, they're truly the minority that's benefitting from the mining scene.
I think 80% of the investment into mining right now are latecomers to the party who didn't do the math and just found out about magical money printing machines that live in the basement
I am guessing you mean purchasing that amount of hashing /mining on a cloud mining site. I would highly advice against it, as there isn't a reputable cloud mining company in the market, and you will actually be risking your investment for the risk of that.
Here's my 2 cents about mining BTC.
I consider all the investment I did/do as highly risked (meaning i understand i could lost everything in short period of time) so do not invest what you cannot lost.
I also consider my electricity bill as an investment in BTC. I only pay like 0.08 KWh (Canadian cents)
I really like to take care of my miner and optimize my setup.
I look at my wallet and let the number goes up
Kind of a success for me at least !
I consider all the investment I did/do as highly risked (meaning i understand i could lost everything in short period of time) so do not invest what you cannot lost.
I also consider my electricity bill as an investment in BTC. I only pay like 0.08 KWh (Canadian cents)
I really like to take care of my miner and optimize my setup.
I look at my wallet and let the number goes up
Kind of a success for me at least !
The cost me 2.4 cents a kwatt I have 2 and they do 850gh and use 650 watts.
Lucky you! I pay about $0.20/kWh on average, residential rates in southern California are very high. Good thing I mine as a hobby, not for profit.
How are you getting the 2.4 cents? I thought you mentioned much higher cost you had for power.
And as far as topic yes people roi. I would agree 90 day ROI is over. I have not had that since GPU days.
I will say most are more quiet that ROI. People that lose are normally more vocal.
I have 2 s-3's at my friends office. He rents the top floor of a building with a lawyer. He has 20% of the floor and pays 20% of the power bill.
This is a limited deal in that it must be under 800 watts and not noisy. so 2 s-3's at freq 212 use 660 watts hash at 850 gh. They are also quiet. Been running since July. My garage miners pay full price 13 cents in the winter and 16 cents in the summer.
I use 4000 watts in the winter and the heat lowers my cost to 10 cents. Once May comes the heat is worthless. Once June comes at 16 cents Until Sept 30th> I go to 1000 watts in house and host with lee in china. https://bitcointalksearch.org/topic/lee-group1980-the-sales-of-first-batch-hosted-antminer-s7psu-included-934581
I starting selling off most of my in house miners the last 2 weeks.
Any miner that's plugged in and running will get some ROI. Whether it breaks even or gets a positive return is another question.
Most of the mining success stories are located in mainland China.
like he said!
Buying a good miner is actually the easy part these days, finding a place where you can break even hosting it is the hard part.
The cost me 2.4 cents a kwatt I have 2 and they do 850gh and use 650 watts.
Lucky you! I pay about $0.20/kWh on average, residential rates in southern California are very high. Good thing I mine as a hobby, not for profit.
How are you getting the 2.4 cents? I thought you mentioned much higher cost you had for power.
And as far as topic yes people roi. I would agree 90 day ROI is over. I have not had that since GPU days.
I will say most are more quiet that ROI. People that lose are normally more vocal.
I started mining about 6 months ago, and I have had success.
My best advice buy used equipment if your just starting.
My best advice buy used equipment if your just starting.
Yes by few months I meant do the calculation , and those will itself tell him in how mnay months will he break even and he can make the decision accordingly. But yeah cloudmining, does take aaround 6 months to break even
The cost me 2.4 cents a kwatt I have 2 and they do 850gh and use 650 watts.
Lucky you! I pay about $0.20/kWh on average, residential rates in southern California are very high. Good thing I mine as a hobby, not for profit.
Most of the mining success stories are located in mainland China.
all i hear is dread, and im planning to get into mining wit 1-3 th/s . any suggestion?
Its fine to buy that amount. Do the calculation and see if you can break even in a few months. If not, then its not worth it.
do not use a few months as your standard. use 6 months. no one can do a 90 day roi on mining. but 180 roi is possible.
basically the days of 20% diff jumps are done. we have averaged under 5% since nov.
The asic mad dog expansion is over. but we will still expand.
The 5% diff jump means your gear should last a bit longer. As a money earner. my 2 batch 1 s-3's still make money for me in a low cost for power spot.
The cost me 2.4 cents a kwatt I have 2 and they do 850gh and use 650 watts.
I have earned 3 coins with these 2 machines power has been 105 usd since july so I am 2.5 coins past power cost. I paid 1.35 coins for these 2. So I am ahead more then 1.15 coins
so these s-3's will be earning into 2016 see below.
5% diff jumps
8% diff jumps
all i hear is dread, and im planning to get into mining wit 1-3 th/s . any suggestion?
Its fine to buy that amount. Do the calculation and see if you can break even in a few months. If not, then its not worth it.
Just made some bitcents with mining. Didn't had that much miningpower.
I remember reading something in November 2013, someone advised the only way to make money from bitcoin mining was to be a hardware manufacturer, or otherwise get hardware for free. I took that as a challenge, and worked from 17GH to 3TH in about six months with no out-of-pocket expenses between mining and serving the community with repair work and hardware kits. It's possible to come out ahead, it's just not easy. You'll probably need to start out with a whole lot of money, a whole lot of luck, or a whole lot of elbow grease.
all i hear is dread, and im planning to get into mining wit 1-3 th/s . any suggestion?
My suggestion is..... DON'T. The only person who will make money is the person you buy the ASICs from. Buy BTC and hold it if you must.
all i hear is dread, and im planning to get into mining wit 1-3 th/s . any suggestion?
All depends on your electrical costs to see if it's worth it.
The "k/WH" is usually the determinant before figuring out if you should even plug a miner in.
In the waiting game myself... And seriously need to stay in that stage because I've bought many miners lately.
2 Butterfly Labs jalapeno's...
1 S2
1 S3+
1 SP10 (hasn't arrived yet)
2 Butterfly Labs jalapeno's...
1 S2
1 S3+
1 SP10 (hasn't arrived yet)
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