The amount you invest has absolutely no bearing on how quickly you earn your original investment back unless you are able to get a huge discount for a bulk purchase. And no home is equipped with enough electricity to handle the amount of equipment it would take to qualify for a bulk discount.
So the answer to your question is... no, it is never feasible.
Topic: at what point is it feasible? (Read 1438 times)
I think the only thing that can make bitcoin mining feasible at the moment is ultra-cheap electricity. In addition, you need to get miners at a good price while their performance is still up to par. Difficulty is rising all the time, which reduces the bitcoin output of your miners very quickly. The point where they don't yield a revenue even with cheap energy comes much too soon.
Onkel Paul
Onkel Paul
Is there any way to design ASIC locally ?
Sure! If you have a minimum of $10,000,000 to invest (probably more). Designing an ASIC chip and manufacturing a miner is for everyone!!
And you should be able to do that in less than a year, if you're lucky and know exactly what you are doing.
ya thats what ive been thinking and im not about to take a loan out just to this.
I think the only thing that can make bitcoin mining feasible at the moment is ultra-cheap electricity. In addition, you need to get miners at a good price while their performance is still up to par. Difficulty is rising all the time, which reduces the bitcoin output of your miners very quickly. The point where they don't yield a revenue even with cheap energy comes much too soon.
Onkel Paul
Onkel Paul
Is there any way to design ASIC locally ?
I think the only thing that can make bitcoin mining feasible at the moment is ultra-cheap electricity. In addition, you need to get miners at a good price while their performance is still up to par. Difficulty is rising all the time, which reduces the bitcoin output of your miners very quickly. The point where they don't yield a revenue even with cheap energy comes much too soon.
Onkel Paul
Onkel Paul
At what amount bitcoins produced per month do you think its viable to say "yes im making money!"?
im at $.15 a kilowatt (middle of nowhere and only one provider)
i have a 2.8terahash Bitmine rig, 2 antminer s3(overclock), and a ant miner s1 (overclock)
all totaling about 3.8 terahash (more or less)
they run at about 4 killowatt total per hour.
most bitcoin sites say i profit about 120-160$ which is nice but at the same time the price i payed for all of them and it'll be about 3 months before it balances off by then the time to make a coin will be longer.
So at what point did anyone really say "yes im making money!" cause i feel more like in 6 months these guys wont due much if anything of value and ill be out a chunk of money
Is it true that unless you have $10k+ extra that bitcoin mining is out reach?
What tricks are their to still make coins with so small of a hash and high electricity?
im at $.15 a kilowatt (middle of nowhere and only one provider)
i have a 2.8terahash Bitmine rig, 2 antminer s3(overclock), and a ant miner s1 (overclock)
all totaling about 3.8 terahash (more or less)
they run at about 4 killowatt total per hour.
most bitcoin sites say i profit about 120-160$ which is nice but at the same time the price i payed for all of them and it'll be about 3 months before it balances off by then the time to make a coin will be longer.
So at what point did anyone really say "yes im making money!" cause i feel more like in 6 months these guys wont due much if anything of value and ill be out a chunk of money
Is it true that unless you have $10k+ extra that bitcoin mining is out reach?
What tricks are their to still make coins with so small of a hash and high electricity?
Jump to: