Topic: I want to invest in 20x S7 (Read 3461 times)

It takes time, as soon as you play around with the miners for a week or two you practically know everything about miners except the most technical parts. Not super easy to learn, but not impossible or too difficult either. There's always the forum here to help too, just ask when you need to

you'r not alone bro

Me too 

i dont unstranded any thing in mining

today DHL has delivered our 7xs9s.
The server room is on it's way to finish, cabling is done shelves are left.
After a while I'll provide pictures if you are interested.

hey bud, I want to get rid of one of my ones
Lmk

https://bitcointalksearch.org/topic/m.15644939

as soon as s9 will be available on bitmaintevh we decided to buy 7 of them, atm investor is my friend

Is it the price drop? but its 533 USD for me on the website

If you want to get in now just a bit over 2 months before the halving you can but expect your profit to drop to a +-1/4 at the halving of what ever it was the day before
that being said there are pros and cons there should be a market lag on the bitcoin price to increase after the halving how high no one really knows it really depends on demand
so if there is a price increase lag "IF" then we suspect the price of miners to go down hopefully to half first who knows... and it would be easier to sell the 28nm chips cheaper as im sure
they have recouped their RnD costs than to jump into 16nm chips which would be way more expensive possibly double in cost for the same Hash... one thing is for sure the hash rate
of the network will change... how much...??... maybe 10% down definitely not 30% down as most of the miners contributing to the hash rate of the network are S7's yeah we got bitfury and spon
but have a look and the history of the network hasrate and difficulty and how is jumped since nov15 and jan16 and this was due to the S7's coming into the market.

but your guess is as good as mine.
one thing is for sure interesting times ahead

So much depends on electricity prices to.   Even the "bigger growth" for the mega farms paying just a few cents on electricity.... still made profit.  So it's all about that electricity price currently.

I hope it changes a little when next gen first hit's.  Hopefully home/hobby miners get a little better shot with better efficiency.  But it is likely the mega farms use the new gear to.. so could be moot.

If I think I can get to break even at 6 months to 8 months I go for it.
A lot depends on power price.  With the solar array agreement I am in my power is low.

Every one looks at those 20 % jumps back in the winter and gets afraid.

but we have four sets below  how can you tell if this small growth time right now will be really long or short you can't

thus  saying 2 to 4 month roi   is your good point  may be wrong.

power price is key  he is at 6 cents.  so he could go  longer then 2 to 4 months.  maybe 5 to 7 months.

I will say this  he should go slow to start but he should try some gear. even two s-7's and 2 psu's won't kill him and he can learn how much work it is to mine. In house.


Difficulty History

Date   Difficulty   Change   Hash Rate


Apr 28 2016   178,659,257,773   -0.01% 1,278,892,782 GH/s
Apr 14 2016   178,678,307,672   7.09%  1,279,029,147 GH/s
Apr 01 2016   166,851,513,283   0.82%  1,194,369,655 GH/s <<<<< this is very good set of numbers  and does
Mar 18 2016   165,496,835,118   4.46%  1,184,672,491 GH/s <<<<<  not end to until  May 12   that is 70 days with little growth
Mar 04 2016   158,427,203,767   -3.10%   1,134,066,098 GH/s




Feb 19 2016   163,491,654,909   13.44%   1,170,318,852 GH/s
Feb 07 2016   144,116,447,847   20.06%   1,031,625,717 GH/s
Jan 26 2016   120,033,340,651   5.89%      859,232,121 GH/s
Jan 13 2016   113,354,299,801   9.12%      811,421,684 GH/s
Dec 31 2015   103,880,340,815   11.16%      743,604,444 GH/s <<<<<<<<<<<<<<<< big ass growth
Dec 18 2015   93,448,670,796           18.14%      668,931,642 GH/s
Dec 06 2015   79,102,380,900           8.77%      566,236,898 GH/s
Nov 24 2015   72,722,780,643           10.44%      520,569,941 GH/s




Nov 11 2015   65,848,255,180   5.77%   471,360,171 GH/s
Oct 29 2015   62,253,982,450   2.25%   445,631,364 GH/s
Oct 15 2015   60,883,825,480   0.12%   435,823,399 GH/s
Oct 01 2015   60,813,224,039   2.49%   435,318,014 GH/s
Sep 17 2015   59,335,351,234   4.17%   424,738,988 GH/s
Sep 04 2015   56,957,648,455   4.98%   407,718,729 GH/s
Aug 22 2015   54,256,630,328   2.95%   388,384,088 GH/s
Aug 08 2015   52,699,842,409   0.81%   377,240,166 GH/s
Jul 25 2015   52,278,304,846   2.35%   374,222,683 GH/s
Jul 11 2015   51,076,366,303   3.39%   365,618,871 GH/s
Jun 28 2015   49,402,014,931   -0.58%   353,633,397 GH/s
Jun 14 2015   49,692,386,355   4.42%   355,711,957 GH/s
May 31 2015   47,589,591,154   -2.50%   340,659,563 GH/s
May 17 2015   48,807,487,245   2.44%   349,377,603 GH/s
May 03 2015   47,643,398,018   0.07%   341,044,727 GH/s   <<<<<< great period of small growth
Apr 19 2015   47,610,564,513   -3.71%   340,809,696 GH/s
Apr 05 2015   49,446,390,688   5.84%   353,951,052 GH/s
Mar 22 2015   46,717,549,645   -1.50%   334,417,246 GH/s
Mar 08 2015   47,427,554,951   1.59%   339,499,662 GH/s
Feb 22 2015   46,684,376,317   5.01%   334,179,783 GH/s
Feb 09 2015   44,455,415,962   7.71%   318,224,263 GH/s
Jan 27 2015   41,272,873,895   -6.14%   295,442,739 GH/s
Jan 12 2015   43,971,662,056   8.20%   314,761,417 GH/s
Dec 30 2014   40,640,955,017   3.00%   290,919,288 GH/s
Dec 17 2014   39,457,671,307   -1.37%   282,449,013 GH/s
Dec 02 2014   40,007,470,271   -0.73%   286,384,627 GH/s
Nov 18 2014   40,300,030,328   1.76%   288,478,854 GH/s




Nov 05 2014   39,603,666,252   10.05%   283,494,086 GH/s
Oct 23 2014   35,985,640,265   2.81%   257,595,247 GH/s
Oct 09 2014   35,002,482,026   0.98%   250,557,526 GH/s
Sep 25 2014   34,661,425,924   16.20%   248,116,151 GH/s
Sep 13 2014   29,829,733,124   8.75%   213,529,547 GH/s
Aug 31 2014   27,428,630,902   15.03%   196,341,788 GH/s  <<<<< bigger growth
Aug 19 2014   23,844,670,039   20.86%   170,686,797 GH/s
Aug 08 2014   19,729,645,941   5.30%   141,230,307 GH/s
Jul 25 2014   18,736,441,558   8.08%   134,120,673 GH/s
© 2013-2014 BitcoinWisdom.com

Even in the former case, it was a horrible investment. ROI in 2-4 months or you do not do it.

And phil has a good point about being diversified.   If you put all in one part of Bitcoin ... could be great but also it could cause a quick loss.   I  split mine between gear and coins mainly.   Cash I mostly use to pay electricity bill as it is not cheap.   So not keeping in cash could come back and bite me, but I'm taking the risk.

Also just because you invest in miners does not mean you can't sell one day and buy BTC or new miners.  I sold all previous gen gear as I made far more off sales then I would mining at my electricity rate.  I sold and bought BTC.  So it worked out pretty good for me.   So you can always sell gear, only thing is when next gen hits current gen likely go down in value (hard to say how fast).

But I still suggest doing a few miners vs all out.  Maybe 5 then 10 then 20, just space it out to give yourself time to make sure everything works right. Especially with summer coming.

Well it is a game with risk. No one knows the market once the ½ ing comes.

Your have a good power price 6 cents a kwatt.

It comes down to this can you afford to lose 4000 usd ? 

You won't lose all of it if things go bad.  4000 usd would get you in and help you learn.

you need to understand this game is like the tide it has highs and lows.
You can go safer then buying 5. 
You can buy 2 with 2 psu's before the ½ ing.  learn the game a bit more.


My money is spent on this method  with btc..   ⅓ is in coins ⅓ is in gear ⅓ is in cash

I understand the risks and If I'll decide to do it I'll start with min 10.
I'll post whatever I will decide, thank you all for your time and advice, wish me luck

On having... just google and you will see countdown clocks (they are not 100 percent accurate, but they give a decent speculation).   But honestly you will have to decide on your own. You have all the facts at this point it is just if you want to make a risky investment or not.   You could look like a genius and gain a lot... or lose it all in worst case.   There is no guarantee  of profit.

Also I would start off with fewer as in a couple just to test place out and see how it works.  I would hate to buy 20 and figure out electricity is not ready, or cooling needs big adjustment.  Going full in at once is normally  not advised.

OK now it made me to think a lot, halving will happen in about two month or so right?
If it would happened in 1 year or so I would be buying miners right away, but now it's little confusing to me. If I was counting on ROI for 10 month~ now it became twice as large if the price will be same after halving.
First I was thinking to buy 15-20 units, after that I saw halving is so close I thought 5 units would be better choice as Phill said, but now I'm confused. Mine or not to mine..
Any advice would affect the decision I will make in next few days

with all fees and taxes, the only thing I have to buy is 25kw cable which will cost around 50$ that's it

is .06 your base rate or your rate with all fees and taxes, etc?

First don't use slush  use kano

check out how poorly slush does to kano


Second  the ½ ing   means a block reward will drop from 25 coins to 12.5 coins.

a few simple facts no one knows what the effect of this will do to the price of coins or the difficulty of coins.


but  math wise  we do know that 25 coins reward will drop to 12.5.

I am 59 years old and an optimistic type guy.  But I read your  power price is 6 cents at 6 cents you are good not great.

I would not buy a lot of s-7's in your case.  i.e. do not get 20.  order 5  and order 5 psu 's  direct from bitmaintech.  When you have a bitmaintech account I will send 5 coupons to you for free worth 500 usd.

your cost will be reasonable  maybe 4k  with the high shipping and you are in the game.  After the ½ ing you can assess what to do with you extra investment money that you held back.

That's correct, your reward per block found will drop from 25 BTC plus transaction fees to 12.5 BTC plus transaction fees per block. No-one can predict what the difficulty will do post-halving, and with a larger *percentage* of a found block being transaction fees how exactly it will all work out.

I can't understand one thing about halving, I was mining on the slushs pool from the beginning when the interface of the webpage was like ordinary forum one, what will happen after halving ? For example If I was mining with power of 4Ths 0.4BTC a month after halving it will be 0.2BTC not including difficulty factor ?

shipping rates in my country are so high that selling new devices abroad are impossible. Plus there is no demand of mining equipment in local market. Considering all risk factors atm I'm thinking to buy 5 S7s now and wait for new chips and get them as soon as they will be avaliable on the market, what do you think?

i would not do it now, i would wait for the next asic generation they should come soon to face the halving, you would have a better idea on what is good to do by then

but i would suggest to not buy them used, because those who buy them new will sell them fast at higher price, because of the demand of a new asic, it's a trick used already

price update 0.06$ per kwh. I think it's the best price I can get in Georgia (not US).
And the last thing before I start, I need to know everyrisk factor out there. Like halving, bitcoin price itself, new chips etc.

1 coupon per s-7    

 so

1 s-7 you get to use 100 off
2 s-7 you get to use 200 off
3 s-7  you get to use 300 off.

If you decide to order  pm me I would send you 3 or 4 free coupons and show you how to place order so that you get to use all the coupons.

I have only used UPS for my orders from bitmaintech  

 I get it shipped direct from China to New Jersey, USA

In my area UPS is better then fedex or dhl for overseas shipping.

It varies in the USA from state to state.

Pricing is:

 FEDEX best
 UPS    second place
 DHL     third place

but   with bitmaintech UPS is over 5% more and gives better service.

If you are USA  don't do one order   when orders get really big like 3 k or more sometimes issues of more fees happen.

If you are USA I would place an order for 4 using ups and four of my 'free' coupons.  pay with btc  .

wait about 6 hours place a second order  for 4 using ups and four of my 'free' coupons pay with btc.

do this again  order four and use four of my 'free' coupons  

this would be 12 machines about 6k in orders.

I am not sure if you need psus.
you get them from bitmaintech if you do. order 12  use ups  order separate  cost will be 1883 for the 12 with the shipping

at this point you  will have 12 s-7's and 12 psus.   all ordered on same day  with the 12 coupons I send you   your net would be

about 7800.

12 miners 12 psus'



I sent a pm with details on how to order with multiple coupons and money wire.

Note do not fuck the order up as you will lose the coupons.  (I have been there and  done that)

DHL is highly location specific on if it's good for you.   I'm on the edge of a route... they put it in regular US mail vs delivering it to me.  So it adds multiple day's.  I really hate them as a shipping company.  Above is normal if he is running low on amount delivered he calls people and says he will be in X parking lot for certain amount of time and you can come pick it up.  So he get's lots of credit for delivery ... yet people drive to him.  He's pretty skummy.

I would also look at cooling again using AC is pretty uncommon at this point with mining gear.  Just is really expensive vs other options.  Normally at this point it's evaporation cooling, or high CFM's pushing heat and exhausting it.  So I would check on that part.

I cant understand why DHL gives me 2200$ for shipping and fedex only 1400$.
Thank you all for your advice and opinion, today I'm going to explore the place were all these stuff will be placed. Company that is providing energy told us that they will give us 25kwt power, I think that would be enough for miners only and the air conditioner will work from another line. Im hoping to get ROI in about 10 month.
thank you so much
I wonder how does the coupon system works? Can I use several coupons in one order or just one per order?

If your order direct from bitmaintech  they have 100 dollar coupons.


I could send you a few coupons. 'free'


Do not listen to naysayers if you want to mine do it.

This hurts really bad on the ROI aspect => for shipping and bringing products in country which is +18% of total cost

I would consider to full all the free electricity you can have access to with some S7. You'll minimize the risk and you are pretty much sure to hit the ROI. Don't forget the resell value of the miners when you'll want to turn them off and/or upgrade them.

As for the one you pay the electricity, it's going to take a long time to hit ROI. We speculate that the new gen of hardware will kill a bunch of old one but i'm pretty sure the Diff will just keep rising, even after the havling. But all of this is speculation. We don't know what will happen.

Bitmain's new chip ?
Bitfury's new chip ?
Whoever's new chip ?

A price war between 2 or 3 of them with the new gen would help us a lot. We know Bitmain and Bitfury have huge pocket but hey also have huge farms to run their new miners. A previous price war between Spondoolies and Bitmain proved to be very profitable but it's also due to a small difficulty increase over a long period of time in 2015.

So there is many unknown elements.

1. When the new gen will be available ?
2. Will it be affordable ?
3. massive difficulty increase or slow increase or even decrease ?
4. The Bitcoin price

Bottom line, just make sure you don't loose your house if everything goes bad. Gamble what you can afford to loose

Hope it helps  

ROI is honestly hard to tell you as difficulty changes really can be tough to speculate, this current one looks good.  Also value of BTC hard to predict this period again it's been pretty great.   But not all periods are as good, it's not a guaranteed ROI.  Also new machine no one can say this, that is a questioned speculated on but no anwser supported by fact's that I know of. That being said I still love it and will always mine.

How much free electricity do you have access to?  Does noise/heat matter in the area?  

I was mining with old S1 x3.
I know about noise and heat they produce and I have excellent place for them with cooling equipment and lots of power.

Are you already mining? If not I'd like to say out of personal experience it's not really worth it.

Miners are hot and noisy as f*ck.. Not to mention given the halving of the block reward is coming soon I would hold off.

there nothing wrong with math, I have to pay 807$ for one miner + shipping is 114$ that would be around 19k for 20 miners plus some unforeseeable charges.
so you think I should wait till the next difficulty change ?
I also wonder if I can use some coupons provided by bitmaintech?

Your math seems to be on the dot, minus the fact the halving is mere weeks away. While the recent price increases bode well for miners after the halving, investing right now is ever so slightly riskier than usual with the reward being chopped in half before you could hope to ROI.

I want to buy 20x S7, for one unit I have to pay around 920-940$ (for shipping and bringing products in country which is +18% of total cost).
The cost of the power is 0.08$ and there is a chance of getting some free energy too. In the case of the free energy there is no doubt to buy those.
I wonder how soon would new miners will be available, I'm thinking about 6-7 month for ROI, is that correct ?
I need your advice guys, any ideas and offers are much appreciated