Are my calculations accurate? | Bitcointalksearch.org

ezeminer

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Quote from: ChuckBuck on February 04, 2015, 05:19:50 PM

Quote from: ezeminer on February 04, 2015, 04:33:33 PM

Quote from: alh on February 04, 2015, 03:05:36 PM

One minor quibble with "pre-orders". Didn't Bitmain advertise and take pre-orders for a Scrypt miner named the L1? As I understand they later canceled the product and never shipped any. While I expect that Bitmain didn't just run off with the pre-order money, I don't know how they made the customers "whole". Did they refund, or just issue "credits/coupons"? Either way folks had some opportunity cost with "dead" money, along with disappointment.

They gave people 3 different options, get a 105% refund based on current value of btc, 110% if you order one of their item or 115% if you ordered their s5. This was back in mid December they announced it.

I'll have to find the thread.

Guessing this is the one you're referring to:

https://bitcointalksearch.org/topic/cancelled-antminer-l1-for-sales-5mhs-ships-in-december-768004

Pretty sure they didn't run off with anyone's money. At least not that I've heard of.

Yes that one, I think that people also posted about the email and professionalism of Bitmain.

ChuckBuck

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better everyday ♥

Quote from: ezeminer on February 04, 2015, 04:33:33 PM

Quote from: alh on February 04, 2015, 03:05:36 PM

One minor quibble with "pre-orders". Didn't Bitmain advertise and take pre-orders for a Scrypt miner named the L1? As I understand they later canceled the product and never shipped any. While I expect that Bitmain didn't just run off with the pre-order money, I don't know how they made the customers "whole". Did they refund, or just issue "credits/coupons"? Either way folks had some opportunity cost with "dead" money, along with disappointment.

They gave people 3 different options, get a 105% refund based on current value of btc, 110% if you order one of their item or 115% if you ordered their s5. This was back in mid December they announced it.

I'll have to find the thread.

Guessing this is the one you're referring to:

https://bitcointalksearch.org/topic/cancelled-antminer-l1-for-sales-5mhs-ships-in-december-768004

Pretty sure they didn't run off with anyone's money. At least not that I've heard of.

ezeminer

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Activity: 2212

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Lie down. Have a cookie

Quote from: alh on February 04, 2015, 03:05:36 PM

One minor quibble with "pre-orders". Didn't Bitmain advertise and take pre-orders for a Scrypt miner named the L1? As I understand they later canceled the product and never shipped any. While I expect that Bitmain didn't just run off with the pre-order money, I don't know how they made the customers "whole". Did they refund, or just issue "credits/coupons"? Either way folks had some opportunity cost with "dead" money, along with disappointment.

They gave people 3 different options, get a 105% refund based on current value of btc, 110% if you order one of their item or 115% if you ordered their s5. This was back in mid December they announced it.

I'll have to find the thread.

alh

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One minor quibble with "pre-orders". Didn't Bitmain advertise and take pre-orders for a Scrypt miner named the L1? As I understand they later canceled the product and never shipped any. While I expect that Bitmain didn't just run off with the pre-order money, I don't know how they made the customers "whole". Did they refund, or just issue "credits/coupons"? Either way folks had some opportunity cost with "dead" money, along with disappointment.

philipma1957

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Quote from: ChuckBuck on February 04, 2015, 01:42:19 PM

Quote from: keffosteffo on February 03, 2015, 04:54:56 PM

Hi! First post! Grin

I know I'm late in this bitcoin world.

But I'm just calculating some, if it would be profitable?

I looked for the most energy efficient ASIC here: https://en.bitcoin.it/wiki/Mining_hardware_comparison
and found the: https://www.hashcoins.com/product/hashcoins-uranus/
With 6TH/s and for the cost of $3299.

And if I use: https://alloscomp.com/bitcoin/calculator
It would generate, with current value of BTC, about $400-$450/month. (I'm counting low, taking in account for down-time, maybe not 100% efficiency and such)
Maybe $5000/year?

The Uranus is 1600W making it 1.6kW*24*365=14016kWh/year
and where I live 1kWh is 12-13 cents. Making it roughly $1700/year in electricity.

So if my calculations are correct.
First year:
$5000 - $3299 - $1700 = $1!!

Is this about right? Is this the reality right now with current value of BTC?

Spot on analysis friend. That's not even considering pool variance, downed miners, pool outages, miner maintenance, power outages, internet outages....alot of factors in play.

But yes, overall you hit the nail on the head. Albeit with fictional miners. Cheesy

These are the 2 only reputable companies on the block at the moment:

https://www.bitmaintech.com/product.htm

http://www.spondoolies-tech.com/

If you still do decide to mine, make sure it's from one of them, otherwise you'll probably get scammed.

Avalon 4 may be viable if you need a space heater it is supposed to run really quietly..

It should cost a little more then the sp20 or the s-5, but if it is as quiet as advertised and you use product like this below the avalon 4 may be good for you.
I have 9 sp20's and a modded s-5 both are good gear. i will be running a thread on the avalon 4 in a week or so.

here is the current thread on the avalon 4

https://bitcointalksearch.org/topic/review-avalon-4-1000ghs694w-938679

ChuckBuck

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better everyday ♥

Quote from: keffosteffo on February 03, 2015, 04:54:56 PM

Hi! First post! Grin

I know I'm late in this bitcoin world.

But I'm just calculating some, if it would be profitable?

I looked for the most energy efficient ASIC here: https://en.bitcoin.it/wiki/Mining_hardware_comparison
and found the: https://www.hashcoins.com/product/hashcoins-uranus/
With 6TH/s and for the cost of $3299.

And if I use: https://alloscomp.com/bitcoin/calculator
It would generate, with current value of BTC, about $400-$450/month. (I'm counting low, taking in account for down-time, maybe not 100% efficiency and such)
Maybe $5000/year?

The Uranus is 1600W making it 1.6kW*24*365=14016kWh/year
and where I live 1kWh is 12-13 cents. Making it roughly $1700/year in electricity.

So if my calculations are correct.
First year:
$5000 - $3299 - $1700 = $1!!

Is this about right? Is this the reality right now with current value of BTC?

Spot on analysis friend. That's not even considering pool variance, downed miners, pool outages, miner maintenance, power outages, internet outages....alot of factors in play.

But yes, overall you hit the nail on the head. Albeit with fictional miners. Cheesy

These are the 2 only reputable companies on the block at the moment:

https://www.bitmaintech.com/product.htm

http://www.spondoolies-tech.com/

If you still do decide to mine, make sure it's from one of them, otherwise you'll probably get scammed.

notlist3d

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Activity: 1456

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Quote from: keffosteffo on February 04, 2015, 02:22:23 AM

Quote from: xstr8guy on February 03, 2015, 10:03:14 PM

With a name like "Uranus", it has to be a joke. But seriously, never preorder from an unknown/untrusted source.

Yeah, I'm thinking the same but I read they have delivered machines before. But yes, if I buy, it will be a miner that is confirmed beeing delivered.

The thing is they released and shipped the Appolo. I still have not seen a Zeus shown by them. Also the Scrypt miner they released I believe they had part of a batch (I cannot remember who got the other half).

But anyways do not order there. They have just shipped old tech out, all the newer better speced stuff I still have not seen on here.

keffosteffo

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Quote from: xstr8guy on February 03, 2015, 10:03:14 PM

With a name like "Uranus", it has to be a joke. But seriously, never preorder from an unknown/untrusted source.

Yeah, I'm thinking the same but I read they have delivered machines before. But yes, if I buy, it will be a miner that is confirmed beeing delivered.

Quote from: eddyubachs on February 03, 2015, 10:10:30 PM

don't think you will make any profit from mining anymore

Yes, that seems to be it right now.

Quote from: TheAnalogKid on February 03, 2015, 10:28:47 PM

Unfortunately that page is very out of date, and yes, you are looking at a scam piece of hardware. They don't even list the Ant S5 yet, and they're still listing BFL hardware which I won't even bother to get into here.

With your power at $.12-.13 it will be very difficult to turn a decent profit, although technically you could ROI given enough time. Also in the winter you could use your miner to provide heat in the house which may supplant the cost of your normal method of heating.

Ok, good to know. I'm trying to do as much research I can.

Yeah, I was thinking the same. I have a cold room without any heating, so I have the perfect room for it.

Quote from: alh on February 04, 2015, 01:22:59 AM

You calculations are largely correct, even for a fictional miner. While you might get a return that matches the cost of your hardware, it won't be a lot of money. The real miners (e.g. Spondoolies, Bitmain, Aavalon), aren't really in better shape for a return on your money. They do exist though, and you will almost certainly receive something real for your money, and in a timeframe that makes sense (i.e. not months).

Ok, "good" that confirms just about what I thought.

Thanks for all your input!
So basically the only thing you can hope for is that you mine and maybe break even and that in the future prices go up.
You can hope Adam Draper is right: http://insidebitcoins.com/news/2015-bitcoin-forecast-industry-insiders-predict-whats-next-for-the-virtual-currency/28228
"“Bitcoin will hit $1500." Cheesy

notlist3d

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Quote from: xstr8guy on February 04, 2015, 01:37:36 AM

Quote from: alh on February 04, 2015, 01:22:59 AM

You calculations are largely correct, even for a fictional miner. While you might get a return that matches the cost of your hardware, it won't be a lot of money. The real miners (e.g. Spondoolies, Bitmain, Aavalon), aren't really in better shape for a return on your money. They do exist though, and you will almost certainly receive something real for your money, and in a timeframe that makes sense (i.e. not months).

I also think xstr8guy is being too generous. Even for a well respected companies, pre-orders carry some significant risk of massive delay, or non-completiong or delivery.

Lol, I was thinking of editing my post to "never preorder (period!) or order from an untrusted/unknown source."

Although, batch ordering from known/trusted sources such as BitMain or Spondoolies is quite safe considering their track records.

Either one is safe. I myself am a miner and I enjoy it. With BTC so low buying direct is very nice. I still will continue to mine. But after winter is over I will have to get rid of some gear, I cannot justify getting heating exhaust from some of my older gear.

xstr8guy

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Quote from: alh on February 04, 2015, 01:22:59 AM

You calculations are largely correct, even for a fictional miner. While you might get a return that matches the cost of your hardware, it won't be a lot of money. The real miners (e.g. Spondoolies, Bitmain, Aavalon), aren't really in better shape for a return on your money. They do exist though, and you will almost certainly receive something real for your money, and in a timeframe that makes sense (i.e. not months).

I also think xstr8guy is being too generous. Even for a well respected companies, pre-orders carry some significant risk of massive delay, or non-completiong or delivery.

Lol, I was thinking of editing my post to "never preorder (period!) or order from an untrusted/unknown source."

Although, batch ordering from known/trusted sources such as BitMain or Spondoolies is quite safe considering their track records.

alh

legendary

Activity: 1846

Merit: 1052

You calculations are largely correct, even for a fictional miner. While you might get a return that matches the cost of your hardware, it won't be a lot of money. The real miners (e.g. Spondoolies, Bitmain, Aavalon), aren't really in better shape for a return on your money. They do exist though, and you will almost certainly receive something real for your money, and in a timeframe that makes sense (i.e. not months).

I also think xstr8guy is being too generous. Even for a well respected companies, pre-orders carry some significant risk of massive delay, or non-completiong or delivery.

TheAnalogKid

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Activity: 322

Merit: 250

Unfortunately that page is very out of date, and yes, you are looking at a scam piece of hardware. They don't even list the Ant S5 yet, and they're still listing BFL hardware which I won't even bother to get into here.

With your power at $.12-.13 it will be very difficult to turn a decent profit, although technically you could ROI given enough time. Also in the winter you could use your miner to provide heat in the house which may supplant the cost of your normal method of heating.

I suggest going through the mining hardware section of the forums, and also the hardware for-sale section and buying a used miner from there. That will give you the best chance to make even a small profit on mining.

The key is information, if you don't do enough research you will for sure lose money, no doubt.

eddyubachs

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don't think you will make any profit from mining anymore

xstr8guy

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Glow Stick Dance!

Please do some serious research before investing in mining gear! I think you're about to purchase a fictional miner.

With a name like "Uranus", it has to be a joke. But seriously, never preorder from an unknown/untrusted source.

keffosteffo

newbie

Activity: 2

Merit: 0

Hi! First post! Grin

I know I'm late in this bitcoin world.

But I'm just calculating some, if it would be profitable?

I looked for the most energy efficient ASIC here: https://en.bitcoin.it/wiki/Mining_hardware_comparison
and found the: https://www.hashcoins.com/product/hashcoins-uranus/
With 6TH/s and for the cost of $3299.

And if I use: https://alloscomp.com/bitcoin/calculator
It would generate, with current value of BTC, about $400-$450/month. (I'm counting low, taking in account for down-time, maybe not 100% efficiency and such)
Maybe $5000/year?

The Uranus is 1600W making it 1.6kW*24*365=14016kWh/year
and where I live 1kWh is 12-13 cents. Making it roughly $1700/year in electricity.

So if my calculations are correct.
First year:
$5000 - $3299 - $1700 = $1!!

Is this about right? Is this the reality right now with current value of BTC?

Topic: Are my calculations accurate? (Read 1798 times)