Topic: If I mine bitcoin with S7 this is the calculation I get.Let me know its correct. (Read 1021 times)

Mining might not work out for you as there are some more big miners coming in the markets which will alter the difficulty to a level no one would have thought of. So, it is possible that the calculations you have thought may turn out real, and you may end up in loss.

Not really it just is that the S7 might not work  after having for higher electricity priced users (those around 10 cent's  espically higher).  But there is the S9 with a HUGE jump in efficiency which allow many to keep mining after having  that would not have been able to with S7.

So a lot still will be able to but some will need to change to more efficient machines.   We still don't  know  a  lot on exact due to BTC value fluctuating.

 I believe many small miners will stop because of cost of running of mining and not enough rewards in return.And miners who are big will take over  their place.There wont place for small miners in near future.

under 10 cents usd  for btc pretty much a good rule of thumb.

I did miss you had part of the ½ing  the reward part correct.

the diff numbers are very hard to know. as is price.


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
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


 If you start on the 26 of sept 2014 

 you would go all the way to Nov 23 2015


about 14 months  and diff did about 2.5%   great and a miner makes money



but


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
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      under 3 months   bad and a miner gets crushed

I guess you did not see. I used 12.5 bitcoin as reward after july 2016
for calculation of difficulty I was told 8%- 10% increase every 11 days.If you multiply todays difficulty x 10% you will see decrease in
earning %7 .Thats how I find earning.You can create excel and calculate.Since  Iam new and hear from others everyone says diffulty is min 5 max 20%
What is the difficulty rate
What do I need to correct
Even tough Iam new I sense if you dont have free power and have not mining long time ago to save bitcoins mining will  not profitable .

your facts are so wrong it worries me.

A) how do you get to use 7% diff jumps as a fact?  that is an assumption.  why do you think diff will always be 7%


B) you totally somewhat ignore the ½ing  which comes in  about 16 days.

 rewards are reduced from 25 to 12.5 coins.  >>>  you mention this

 which will alter difficulty >>>>> this you do not mention


C) your s-7 will no longer earn a profit at a 12 cent a kwatt power price. and current coin and power prices. much sooner then you said like july 30th if your 7% and your coin price is correct.



D)  with all you got wrong one thing you got right is the s-7 should be a money loser for you.

Basically due to power cost.

Thanks.I would love to get s9 yet they are all sold out.Since Iam new to this yet I do understand more hashpower is more bitcoin .
There are lots of variables to watch for and I want to make sure Iam getting correct info from people who knows way more than me.
I live in Kitchener Canada and electricity is expensive here. Its about 10cents Usd per hour if you get the average.Plus delivery, tax.
Electricity Charges
Period   Time   Cost
Off-peak   Weekdays 7 pm to 7 am Weekends & Holidays - all Day   8.7ȼ/kWh
Mid-peak   Weekdays 7 am to 11 am and 5 pm to 7pm   13.2ȼ/kWh
On-peak   Weekdays 11 am to 5 pm   18.0ȼ/kWh

even with s9 that does not look very profitable with cost of electricity, bitcoin halving and increase in difficulty.
I need more research and find a place for better electricity rates, and hopefully cost  for s9 drop by then.

Hearing 18 cent's during peak time scares me personally.  There are some good host's out there for 10 cent's or so.     So I would really double check those numbers and make sure fee's/taxes are in them.  Also is it variable where it moves up or down depending on how much electricity you use?

Ok that being said about electricity having is coming very fast with 10 cent's a S7 really is not the machine for you if running around 10 cent's.  You really need to look more twords the S9 it's efficiency will allow you to mine after having.  I would suggest checking electric then doing ROI math again with a S9 instead of a S7.

*Edit I also don't see having in your ROI math make sure it is included as it is coming soon.

If I go with FACTS not any assumptions.

My hydro cost off peak time:8.7 cents
Peak time:18 cents
Mid peak time: 13.2 cents
Average: 12 cents kwh Cad or 10 cents Usd
s7 Hash Rate: 4730 ths
s7 power consumptions 1293 kws
pool fees: 2%
bitcon price: 669 usd
Block Reward:12.5
Bitcoin difficulty: 209453158595.38100 increase 8%-%10 every 11 days
With all these facts EARNING is:weekly EARNING is 26.59 usd.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4730.00&p=1300.00&pc=0.10&pf=2&d=209453158595.38100000&r=12.5&er=669&hc=0.00

When I multiply current difficulty with 8% and check next week EARNING is 7% less than this week EARNIING.I also calculated third week difficulty with same  number and it gives me 7% decrease in EARNING every week.
For example: current difficulty 209453158595.38100 x 1.08= 226209411283.0115
with this difficulty weekly EARNING is 24.62 usd .That profit is 7% less than first week EARNING (26.59usd)

If all these calculations are correct AND difficulty is close to my calculations my EARNING AFTER 52 WEEKS IS 345.1534872
Minus power cost 1132usd.
Only if bitcoin price will increase a lot  and difficulty decrease s7 will profit.
    weekly EARNING EARNING after difficultY( 7% DECREASE EARNING EVERY WEEK)
week 1    $26.59     $24.73
week 2    $26.59     $23.00
week 3    $26.59     $21.39
week 4    $26.59     $19.89
week 5    $26.59     $18.50
week 6    $26.59     $17.20
week 7    $26.59     $16.00
week 8    $26.59     $14.88
week 9    $26.59     $13.84
week 10    $26.59     $12.87
week 11    $26.59     $11.97
week 12    $26.59     $11.13
week 13    $26.59     $10.35
week 14    $26.59     $9.63
week 15    $26.59     $8.95
week 16    $26.59     $8.33
week 17    $26.59     $7.74
week 18    $26.59     $7.20
week 19    $26.59     $6.70
week 20    $26.59     $6.23
week 21    $26.59     $5.79
week 22    $26.59     $5.39
week 23    $26.59     $5.01
week 24    $26.59     $4.66
week 25    $26.59     $4.33
week 26    $26.59     $4.03
week 27    $26.59     $3.75
week 28    $26.59     $3.49
week 29    $26.59     $3.24
week 30    $26.59     $3.01
week 31    $26.59     $2.80
week 32    $26.59     $2.61
week 33    $26.59     $2.42
week 34    $26.59     $2.25
week 35    $26.59     $2.10
week 36    $26.59     $1.95
week 37    $26.59     $1.81
week 38    $26.59     $1.69
week 39    $26.59     $1.57
week 40    $26.59     $1.46
week 41    $26.59     $1.36
week 42    $26.59     $1.26
week 43    $26.59     $1.17
week 44    $26.59     $1.09
week 45    $26.59     $1.01
week 46    $26.59     $0.94
week 47    $26.59     $0.88
week 48    $26.59     $0.82
week 49    $26.59     $0.76
week 50    $26.59     $0.71
week 51    $26.59     $0.66
week 52    $26.59     $0.61