Nice wording. Do not expect a piece of asic gear to last three years.
1-2 is more like it.
Power cost is key.
You need to have cheap power.
RIGHT now at this minute a used s17pro with aftermarket firmware is more efficient then the s19pro with stock firmware.
But reallist numbers say 30 watt a th and 200th in s17pro comes to
26usd a day in coin power would be 144kwatts at 10 cents that is 14.40
Net is 11-12 a day
If you have 5 cent power that is 7.2 a day net is 18-19 a day
If you have 15 cent power that is 21.6 a day net is 6-7 a day
Maybe you get four s17pro for 4200.
Topic: Interested in Mining, doing due diligence, have some hardware questions. - page 2. (Read 449 times)
December 04, 2020, 11:59:13 AM
December 04, 2020, 10:19:28 AM
Hello there, my name is Farns and I'm relatively new to the space. I have been reading, listening, and observing everything I can get my hands on for the past month or so, trying to understand the ins and outs of mining, to decide if I want to start making moves to get into this in the coming year. My questions for this thread are specific to hardware.
With respect to the forum, I'm trying to not ask for answers I can find here under my own steam, and I'm not in a hurry to rush into this if at all. But I do have some questions that are less technical, and more user-experience related questions, that I have not found solid answers for in any of the resources I have found. I'm hoping that some of the veteran miners here may be willing to share their experience, and I understand that "My actual mileage may vary".
First a little about me and my interests in this.
I consider myself tech and computer-savvy, I have build personal computers, and I do mild programming/scripting at my day job. I've watched some of the more technical videos on setting up mining, and while it doesn't click with me immediately, I feel like I could get there with some effort. My interest is to look at developing a small basement mining operation, not trying to quit my day job or anything. :-) But looking at mining and holding over the long-haul. I'm roughly 20 years from retirement, and at least 20 years behind the curve for retirement savings. I have had interest in crypto for holding long-term and having that be a part of my retirement efforts.
From everything I have consumed, I have a few observations:
- It seems to be that ASIC miners in particular, become obsolete fairly quickly, as their hashrates are dramatically lower than current models for roughly the same power consumption.
- It seems to be that current ASIC miners are nearly impossible to get your hands on.
- It seems that there are plenty of scammy options out there to lose your money on, like the 410 TH Whatsminer that appears to be non-existent LOL.
- Even looking in the GPU mining space for other coins, the same efficiency or availability problems exist.
- It seems to me that even for a little guy getting started, "go big or go home" seems to be key. It seems that working one's way up from lesser equipment into better gear over time may not even be a viable option.
So my question is, let's say I find myself able to get my hands on 2 or 3 Antminer S19 Pro units sometime next year, I haven't been able to find much information anywhere about how long I should expect these to operate. It seems every year a new generation of faster models keep coming out, but honestly how long should one of these units be expected to live, assuming good efforts to prolong their life with cooling, I've seen talk about not running them full speed to make them last longer, etc... Some of you guys have big operations with many units, different brands, etc., can you share what kind of life expectancy you've seen? How often does a board fail? Have you learned how to replace those boards etc., yourself or does it require the manufacturer to repair?
What kind of plan do you follow with your investment? Do you cash out just enough to keep the power bill paid and stash the rest for the long term, or are you mining for cash flow? I can see those two different approaches driving different ways you'd set things up.
My ideals may certainly evolve over time, but at the moment, from all I've read and studied, I think I would want to mine what I can mine, and hold it for the long term, not just BTC, but some others as well. Diversify the portfolio as it were... I have space in an unused cold storage area of my basement I could route power and data to. I think I would do my best to pay the utilities out of pocket rather than sell out coin to pay for it, and consider that expense part of my investment into this.
I just don't have a good handle on life expectancy of equipment. If ROI is a about a year, and life is about a year, than maybe mining isn't for me. If it's 3+ years, and maybe I add a new latest and greatest unit every year or so, that could be more interesting.
Thank you in advance for your time and discussion on this.
Farns
With respect to the forum, I'm trying to not ask for answers I can find here under my own steam, and I'm not in a hurry to rush into this if at all. But I do have some questions that are less technical, and more user-experience related questions, that I have not found solid answers for in any of the resources I have found. I'm hoping that some of the veteran miners here may be willing to share their experience, and I understand that "My actual mileage may vary".
First a little about me and my interests in this.
I consider myself tech and computer-savvy, I have build personal computers, and I do mild programming/scripting at my day job. I've watched some of the more technical videos on setting up mining, and while it doesn't click with me immediately, I feel like I could get there with some effort. My interest is to look at developing a small basement mining operation, not trying to quit my day job or anything. :-) But looking at mining and holding over the long-haul. I'm roughly 20 years from retirement, and at least 20 years behind the curve for retirement savings. I have had interest in crypto for holding long-term and having that be a part of my retirement efforts.
From everything I have consumed, I have a few observations:
- It seems to be that ASIC miners in particular, become obsolete fairly quickly, as their hashrates are dramatically lower than current models for roughly the same power consumption.
- It seems to be that current ASIC miners are nearly impossible to get your hands on.
- It seems that there are plenty of scammy options out there to lose your money on, like the 410 TH Whatsminer that appears to be non-existent LOL.
- Even looking in the GPU mining space for other coins, the same efficiency or availability problems exist.
- It seems to me that even for a little guy getting started, "go big or go home" seems to be key. It seems that working one's way up from lesser equipment into better gear over time may not even be a viable option.
So my question is, let's say I find myself able to get my hands on 2 or 3 Antminer S19 Pro units sometime next year, I haven't been able to find much information anywhere about how long I should expect these to operate. It seems every year a new generation of faster models keep coming out, but honestly how long should one of these units be expected to live, assuming good efforts to prolong their life with cooling, I've seen talk about not running them full speed to make them last longer, etc... Some of you guys have big operations with many units, different brands, etc., can you share what kind of life expectancy you've seen? How often does a board fail? Have you learned how to replace those boards etc., yourself or does it require the manufacturer to repair?
What kind of plan do you follow with your investment? Do you cash out just enough to keep the power bill paid and stash the rest for the long term, or are you mining for cash flow? I can see those two different approaches driving different ways you'd set things up.
My ideals may certainly evolve over time, but at the moment, from all I've read and studied, I think I would want to mine what I can mine, and hold it for the long term, not just BTC, but some others as well. Diversify the portfolio as it were... I have space in an unused cold storage area of my basement I could route power and data to. I think I would do my best to pay the utilities out of pocket rather than sell out coin to pay for it, and consider that expense part of my investment into this.
I just don't have a good handle on life expectancy of equipment. If ROI is a about a year, and life is about a year, than maybe mining isn't for me. If it's 3+ years, and maybe I add a new latest and greatest unit every year or so, that could be more interesting.
Thank you in advance for your time and discussion on this.
Farns
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