I Am Unplugging My Bitcoin Cash Miners & You Should Too | ASIC Mining Is Dying - page 4.

swogerino

legendary

Activity: 3136

Merit: 1233

The Gpu mining seems almost dead , I hope I am wrong but from seeing that a single mining rig of 6 Rx cards with a 180mhs hash rate makes only 0.50 mBTC daily which is 3.35 dollars pretty much says it is dead.

I am taking as an example the average cost of electricity which I think if we make an average in the world would be 0.07-0.08 cent kilowatt. A mining rig like the one above makes about 106 dollars a month and the electricity they pay is about 65-70 dollars, it is only a 30-35 dollars profit.

Add to that the initial cost of the miner and we are in a very grim situation here.

FFI2013

hero member

Activity: 906

Merit: 507

This is exactly why asics turn mining into centralization, greed is killing mining for small and home miners even when the big pump happened and everyone in their brother starting gpu mining the difficulty didn't rise compared to what asic are doing

d57heinz

legendary

Activity: 1453

Merit: 1011

Bitcoin Talks Bullshit Walks

Quote from: philipma1957 on August 25, 2018, 05:40:52 AM

Quote from: philipma1957 on August 24, 2018, 11:21:59 PM

No BTC price boost means only cheap power mining makes profit.

Coins were 19990
Coins are 6750

an s-9 earns about $3.56 a day
power cost at 10 cents is about $ 3.41 a 15 cent profit.

power cost at 9 cents is about $ 3.07 a 49 cent profit
power cost at 8 cents is about $ 2.73 a 83 cent profit
power cost at 7 cents is about $ 2.39 a $1.17 profit
power cost at 6 cents is about $ 2.04 a $1.52 profit
power cost at 5 cents is about $ 1.70 a $1.86 profit
power cost at 4 cents is about $ 1.36 a $2.20 profit
power cost at 3 cents is about $ 1.02 a $2.54 profit/b]

note 4 cent power in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20 so at 440 for a s-9 with a psu a 200 day payoff add 30 days for a 15 percent dead gear rate and

buying 80000 s9's sounds good

The solar array that buysolar owns is pretty much paid off. we estimate 1 cent a kwat to maintain it.

So we sound be good to go well the problem is the size of the array is 200000 watts which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

5 cent power = $1.89 profit
4 cent power = $2.20 profit
3 cent power + $2.54 profit

so anyone paying 480 for an s-9 + psu with 3 to 5 cent power does just fine.

since bitmain is selling a s-9 with a psu for 499 and giving a 55 dollar coupon they are charging 444 + shipping

asic mining is thriving if you have 4 or more megawatts at 4 cents

that is 280 s-9's which means you are earning $616 a day all your gear is paid off in 280 days and you have a cash profit of more then 30000 usd

Denial is going to cost someone a lot of money. I’d quit trying to justify this fiasco. We all got suckered by the rich. Take the punch and move along. I’ve said enough about this. I hope everyone does the math and realized that when bitmain releases overclocked miner with same old chip that new miners are just around the corner. Same ole bitmain. So Phil’s numbers will mean nothing as diff will shoot up crazy again diluting whatever you have. It’s to the point where you have to have a million ASICS at 1cent per kw. Then it’s game over for decentralization. Game over. Yes I said game over. Understand? Stop being in denial. Yes we can make mistakes. And you can too. It’s ok but it’s not the end of the world. Lol

BR

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

nobody that uses a lot of power has rates like that right now except contracts, agreements behind closing doors that nobody knows about, many countries in the world subside electricity at that price range to poor families, maximum usage 100kw per month, if more than that then they charge an arm and a leg each kw after that hehe, not even in china which used to have electricity free of charge given to poor families, its game over, whoever is still mining is at loss or steal electricity or somebody else pays their bill.

philipma1957

legendary

Activity: 4158

Merit: 8049

'The right to privacy matters'

Quote from: philipma1957 on August 24, 2018, 11:21:59 PM

No BTC price boost means only cheap power mining makes profit.

Coins were 19990
Coins are 6750

an s-9 earns about $3.56 a day
power cost at 10 cents is about $ 3.41 a 15 cent profit.

power cost at 9 cents is about $ 3.07 a 49 cent profit
power cost at 8 cents is about $ 2.73 a 83 cent profit
power cost at 7 cents is about $ 2.39 a $1.17 profit
power cost at 6 cents is about $ 2.04 a $1.52 profit
power cost at 5 cents is about $ 1.70 a $1.86 profit
power cost at 4 cents is about $ 1.36 a $2.20 profit
power cost at 3 cents is about $ 1.02 a $2.54 profit/b]

note 4 cent power in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20 so at 440 for a s-9 with a psu a 200 day payoff add 30 days for a 15 percent dead gear rate and

buying 80000 s9's sounds good

The solar array that buysolar owns is pretty much paid off. we estimate 1 cent a kwat to maintain it.

So we sound be good to go well the problem is the size of the array is 200000 watts which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

5 cent power = $1.89 profit
4 cent power = $2.20 profit
3 cent power + $2.54 profit

so anyone paying 480 for an s-9 + psu with 3 to 5 cent power does just fine.

since bitmain is selling a s-9 with a psu for 499 and giving a 55 dollar coupon they are charging 444 + shipping

asic mining is thriving if you have 4 or more megawatts at 4 cents

that is 280 s-9's which means you are earning $616 a day all your gear is paid off in 280 days and you have a cash profit of more then 30000 usd

Piskeante

member

Activity: 924

Merit: 15

the market is dead. More people are going to be forced to disconnect their machines.

this is just the begining of the end.

SirNeo

newbie

Activity: 59

Merit: 0

Why would we care that you have turned off the ASCIs?

stash2coin

jr. member

Activity: 108

Merit: 1

Yeah sure

Quote

japanese company developing 7nm bitcoin mining equipment

, bitmain is also preping their new iteration of 7nm chips but they are keeping it secret so they can sale the pile of 16nm chips they accumulated...Next year will be full of 7nm ASIC chips.

nc50lc

legendary

Activity: 2394

Merit: 5531

Self-proclaimed Genius

The first thing that I've noticed that didn't make cents is the the title: I Am Unplugging My Bitcoin Cash Miners & You Should Too | ASIC Mining Is Dying. That's misleading, specially for newbies.
BTC and BCH (you know the political war)
Contents explains about the increasing difficulty of Bitcoin and also provided links to Bitcoin-related profit calculators, charts and speculation sites.

Anyways, that's pretty expectable considering that ASIC manufacturers doesn't have a limit on who to sell (until now) and how many products to produce, mostly based on the demand.
Nothing's bad for them at the moment, quitting miners and lower sales can cause some minor problems to them but overall, it wont stop them from producing better models since it's their (selfish) business to begin with.

Saying "ASIC mining is dying" while trying to sale ASICs is whole new method of advertising, surely it will work as intended

philipma1957

legendary

Activity: 4158

Merit: 8049

'The right to privacy matters'

No BTC price boost means only cheap power mining makes profit.

Coins were 19990
Coins are 6750

an s-9 earns about $3.56 a day
power cost at 10 cents is about $ 3.41 a 15 cent profit.

power cost at 9 cents is about $ 3.07 a 49 cent profit
power cost at 8 cents is about $ 2.73 a 83 cent profit
power cost at 7 cents is about $ 2.39 a $1.17 profit
power cost at 6 cents is about $ 2.04 a $1.52 profit
power cost at 5 cents is about $ 1.70 a $1.86 profit
power cost at 4 cents is about $ 1.36 a $2.20 profit
power cost at 3 cents is about $ 1.02 a $2.54 profit

note 4 cent power in big scale 100 mega blocks is pretty easy to get.

and each s-9 make about 2.20 so at 440 for a s-9 with a psu a 200 day payoff add 30 days for a 15 percent dead gear rate and

buying 80000 s9's sounds good

The solar array that buysolar owns is pretty much paid off. we estimate 1 cent a kwat to maintain it.

So we sound be good to go well the problem is the size of the array is 200000 watts which is 33.3 kwatts 23/7/365 at a penney

which is about 20 s9-s.

or 20 x 3.56 = 70 a day - 7 = 63 a day profit and it shrinks with more diff growth.

so even a 1 cent power setup struggles due to expansion and diff increase.

VoskCoin

sr. member

Activity: 1414

Merit: 487

YouTube.com/VoskCoin

Is it worth it to mine Bitcoin? Aside from the altruistic act of securing the BTC network via Proof-of-Work PoW, Bitcoin mining doesn't make cents or sense now or in the foreseeable future for the residential small-scale cryptocurrency miner.

https://www.youtube.com/watch?v=1NCqR3jr2Rk

Still want a Bitcoin Miner? - http://geni.us/dBMn (amazon referral link)

There are many factors at play when you analyze cryptocurrency and cryptocurrency mining profits, however with Bitcoin price remaining stagnant and Bitcoin mining difficulty continuing to increase this becomes a very simple equation that the longer time goes on = the less Bitcoin/USD you will earn mining BTC.

Bitcoin Mining Difficulty Chart Coinwarz - http://bit.ly/2Lqr6w6
WhatToMine Bitcoin Mining Profit Calc. - http://bit.ly/2wmy67J
AsicMinerValue Bitcoin Mining Profit Est. - http://bit.ly/ASICm
CryptoCompare BTC Profits Calculator - http://bit.ly/2NiLTn4
Bitcoin BTC to USD Conversion - http://bit.ly/2wb8871
Bitcoin Miner Antminer S9 Shown - https://amzn.to/2LoK32f
Bitmain Antminer S9j official store - http://bit.ly/2P1KJfW
Bitmain Antminer S9 Hydro leaked - http://bit.ly/2w61z6v
Bitcoin BTC Price CoinMarketCap - http://bit.ly/2o7SaH6

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