How much will I make mining? | Bitcointalksearch.org

notlist3d

legendary

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Quote from: bitlancr on April 25, 2016, 02:12:09 PM

11.6 cent is quite a lot. Remember the difficulty is increasing and with the pricing going up there is no sign this will stop.
So you will end put up with a loss if you use a 'dated' S7 miner.

I think it would all depend on resale with 11.6 cents. He would have to mine and sell at a profit so partially at mercy of bitmain and hoping they don't drop S7 anymore or he loses then.

But that is only choice I see is buy and flip which can be dangerous on ebay. He could wait till next gen whenever it hit's and likely get a decent amount of time mining with it before having to sell.

bitlancr

hero member

Activity: 616

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11.6 cent is quite a lot. Remember the difficulty is increasing and with the pricing going up there is no sign this will stop.
So you will end put up with a loss if you use a 'dated' S7 miner.

ALToids

hero member

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I can't see anything being remotely profitable more than a week or 2 if it's high efficiency. If you're relying on flipping margin then you're not really mining.

notlist3d

legendary

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Merit: 1000

Quote from: QuintLeo on April 19, 2016, 01:29:19 AM

11+ cents/KWH? You will not make NEARLY enough to get back your investment on anything currently available, and anything but an S7/Avalon6/BEleven is probably going to LOSE you money outright (those 3 units will be profitably, but probably NOT profitable enough to make back what you'll pay for them before THEY become unprofitable).

IMO wait for the 14/16nm full custom miners to start showing up, THEN crunch the numbers on those to see if they're worth the risk of buying.

Better option (if available for you) - move somewhere with VERY VERY cheap electric, THEN look at the 14/16nm gear.

I think it's all going to come down to sales sadly. I think he can run for a few weeks and do ok with next gen (and who know's when that is). But his ROI will depend on resell making a profit.

He might be able to do a S7 and mine for a week or two and flip it on ebay. Great risk here do the math as it might not be even worth trying. But sales at 11 cents are going to be very important on your ROI.

QuintLeo

legendary

Activity: 1498

Merit: 1030

11+ cents/KWH? You will not make NEARLY enough to get back your investment on anything currently available, and anything but an S7/Avalon6/BEleven is probably going to LOSE you money outright (those 3 units will be profitably, but probably NOT profitable enough to make back what you'll pay for them before THEY become unprofitable).

IMO wait for the 14/16nm full custom miners to start showing up, THEN crunch the numbers on those to see if they're worth the risk of buying.

Better option (if available for you) - move somewhere with VERY VERY cheap electric, THEN look at the 14/16nm gear.

Amph

legendary

Activity: 3248

Merit: 1070

if your electricity is expensive, nothing is lost, you just need to invest in a green energy with half of your investsment, and buy less hashing power, half of what you had in mind at first

you should be able to mine free for at least 10 hours a days with solar panels for example

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: xhomerx10 on April 17, 2016, 04:30:53 PM

How did you arrive at 11.16 cents per kWh? Is that an aggregate cost analysis of a 24 hour period?

I laid this out in another post previously -

The variable charges on a typical bill for many North American utilities are:

electricity (time of use) charge
distribution charge
transmission charge
loss adjustment (usually a fixed multiplier - mine is 4.8%)
regulatory charges
city, state and or federal VAT or sales tax (anywhere from 0-24%)
metering charges
advanced metering surcharges (if you're lucky enough to have one of the newer remote controlled meters)
nuclear decommissioning fund charges

The stated cost per kWh non-peak for me is 8 cents but my average cost over the month is 18.6 cents per kWh (that also includes the fixed costs such as a customer surcharge and paper billing charge. I think I could save a couple bucks and the planet if I were to opt for electronic billing).

Long story short - I haven't been able to run a miner that would have been profitable for well over a year.

With 18 sadly you will not be running a miner ever again, at least long term. Might get to run a few weeks once next gen hits, but you would be counting on selling it to hit ROI, which is hard to do.

But OP's does not sound like to far off, I'm in us with regular residential electricity and am under 10 cent's. I will he honest it's been harder and harder OP. I had to get rid of all previous gen gear, just sold for far more then what I would have got running it. You will have to always have the best and most efficient gear, and ROI depends on selling. So you can possibly mine... but I would honestly suggest against it unless you like hard battles.

mindrust

legendary

Activity: 3276

Merit: 2442

Just think about another business to invest. Mining is dead.

Unless... you have free electricity and cold climate. Even after so, its not guaranteed to profit.

(actually climate is no problem if you got free electrons:)

) haha.

xhomerx10

legendary

Activity: 3808

Merit: 7912

How did you arrive at 11.16 cents per kWh? Is that an aggregate cost analysis of a 24 hour period?

I laid this out in another post previously -

The variable charges on a typical bill for many North American utilities are:

electricity (time of use) charge
distribution charge
transmission charge
loss adjustment (usually a fixed multiplier - mine is 4.8%)
regulatory charges
city, state and or federal VAT or sales tax (anywhere from 0-24%)
metering charges
advanced metering surcharges (if you're lucky enough to have one of the newer remote controlled meters)
nuclear decommissioning fund charges

The stated cost per kWh non-peak for me is 8 cents but my average cost over the month is 18.6 cents per kWh (that also includes the fixed costs such as a customer surcharge and paper billing charge. I think I could save a couple bucks and the planet if I were to opt for electronic billing).

Long story short - I haven't been able to run a miner that would have been profitable for well over a year.

adaseb

legendary

Activity: 3808

Merit: 1723

He is correct, your electricity is just way too expensive for mining.

beltsniffer

sr. member

Activity: 277

Merit: 250

Quote from: fresh_lettuce on April 17, 2016, 06:49:23 AM

New to bitcoin.
Atm opened up in my area, can finally buy & sell bitcoins for cash with ease.
Have $5,000 USD to invest.
I pay 11.16 (cents)/kWh
Must be indoors, will be putting in a 15 x 10 room with one window. Will be next to my office.

Need a straight up ball park estimate in USD.

What would you buy, how much would you say I could make monthly? (Rough estimate)

Any Ideas?

- Fresh lettuce

Welcome!
As much as I hate to discourage someone new to the hobby, at your power prices, you will not see a return on your investment unless the price of BTC skyrockets. You are better off waiting a few months for the next gen miners to come out.

With the current miners at the current reward and difficulty, it would take you more than 1 year to get to breakeven on your equipment. With the halving coming up in a few months, the block reward will cut to 12.5BTC. At which point you would spend more on electricity than you could bring in from mining.

If you still want to get into it for a hobby, I would recommend starting slowly with just one current gen miner and PSU. Then, if you still want to, jump in with both feet when the new miners come out.

Find a good pool to use. I use Kano.is. Great pool with great luck (currently at 108% lifetime), low fees, a very supportive mining community, and one of the most knowledgeable pool operators out there. Their thread is here https://bitcointalksearch.org/topic/kanopool-kanois-lowest-09-fee-since-2014-worldwide-2432-blocks-789369

fresh_lettuce

newbie

Activity: 4

Merit: 0

New to bitcoin.
Atm opened up in my area, can finally buy & sell bitcoins for cash with ease.
Have $5,000 USD to invest.
I pay 11.16 (cents)/kWh
Must be indoors, will be putting in a 15 x 10 room with one window. Will be next to my office.

Need a straight up ball park estimate in USD.

What would you buy, how much would you say I could make monthly? (Rough estimate)

Any Ideas?

- Fresh lettuce

Topic: How much will I make mining? (Read 1131 times)