Topic: ASIC mining ( Newbie ) (Read 746 times)

You based your calculation on the 60k$ for each bitcoin you will earn? it seems that this is wrong because the price of bitcoin is currently around 20k$+ its value is playing in the market today.


Answer:  It will only last depending on the overall quality of the unit, or it depends on several factors like the level of maintenance.
            But most of the time the life span of the ASIC miner is typically in between 1-2 years.


Answer: As far as I know, upgrading most of the time aims to improve the scalability of the bitcoin network by simply making it more efficient
            to use complex smart contracts. Therefore, if a taproot upgrade is proposed to upgrade to the bitcoin protocol, it means Asic will
            not make obsolete or inefficient. but ofc course it does not change the process of mining, which is still based on SHA-256,
            the proof-of-work algorithm that ASICs are optimized for.



Answer: Your computation is wrong if you based on 60k$ each bitcoin.


Answer: No one knows dude, coz you know the market is too unpredictable and you know also that as well.


Answer: In my honest opinion, this could be a profitable investment. But you must always remember that the future price of Bitcoin is very
            uncertain. Meaning, reaching 100k$ or 200k$ for each bitcoin is not guaranteed. Although, the majority of the community in this
            industry believed in these things. Aside from that, the mining bitcoin difficulty is also increasing, which it can also make it less
            profitable to mine as time goes by.

Drag this up from the dead.

plus he was calculating on a 60k and a lower difficulty.

    From what I can see if you use the ASIC miner s9 miner the profitability you can get within a month is around -92.09$ something that every day plays between -2.44$ to -3$ but this is depending on the Bitcoin price.

 The calculation depends on TH so that computation is based on the 14TH. Also at the time it was very risky if you use another mining pool, it's really good if you only mine Bitcoin.

Reviews from 'sites' are generally crap and are easily bought. Just look through the Hardware and the Support areas here to see what real users have to say about them and the problems they have.

I do not and never will mine crapcoins, I only mine BTC. This is the Bitcoin-only area for a reason -- it drastically cuts down on the noise hyping the latest shitcoins most of which are worthless.

As for the speed of the 841's and other older miners -- in the long view of things, the speed of any individual piece of hardware does not matter that much. All blocks are found by just 1 miner and many if not most in the world that are running are NOT the latest & greatest. Case in point, I have a "lucky" R4 from early 2017 that runs 8-9THs and yet it has hit 3 blocks in its lifetime, the last one was in 2019 when it returned a share with a diff >150T. Yes higher total speed gives you more rolls of the dice so-to-speak so if you have slower miners, just get more miners.

Thanks for prompt reply!

1. Are there any good ( unbiased ) sites with ANTMINER S9 Pro reviews actual performance ?
2. Is the A841 you reference a 13.6 Th/s Avalon and if so are you mining alt coins like DCR and cashing them in for BTC?
3. What would be a solid ASIC that is available and 10K or under ?

Thanks once again for your assistance and insights,
Ronald

Answers:
1. Depends on the make, model and your luck. Could be years, could be months. Case in point the S17 series were showing up to 25% failure within months but - some of them are still working after 2 years. I have a miner from 2017 and many A841's that have been running non-stop since 2017.

2. Taproot has nothing to do with the miners - it is change in Bitcoin Core and the miner hardware has nothing to do with it.

3. Unknown. Diff changes constantly both up and down so predictions like that are pretty useless.

4. I doubt it. For several reasons I'm sure hardware will be changing very little in that time.

5. Correct - provided you have low cost electric and a place for the miners that can get proper airflow and is not somewhere where their insane noise would be a problem.

Been GPU and CPU mining, looking into an ASIC. ( Antminer S9 pro perhaps ). I am extremely bullish on bitcoin and believe it will be $ 200,000 + in five years and believe $ 10,000 investment should be paid off in 1 ½ years based on .000058 daily mining at $60K bitcoin.

1. How many years do these miners usually last ?
2. Will the Taproot upgrade make an ASIC like this obsolete or inefficient ?
3. I should have mined .5 bitcoin by 04/18/24  ( Next bitcoin halving ). Can I assume my daily .00058 BTC will diminish to .00029 BTC for the following 4 years ?
4. Will this type of miner be obsolete after the next halving on 04/18/24 ?
5. If Bitcoin reaches 100K-200K and I can mine a BTC in 5-6 years, isn't a $10K investment and $12K in electricity a no brainer investment ?

Thanks,
Ronald