Topic: Is it possible to realistically break even mining anymore? - page 2. (Read 13052 times)

It is still possible to break even. Take KNC Miner for instance, they offer high hashing power ASICs at good prices. Assuming they deliver by October/November, you can definitely still make a ROI. You can find more information about their ASICs and prices at https://www.kncminer.com/

Good Luck.

Mod note: removed affiliate link

"If buying one unprofitable miner isn't appealing to you, buy a lot of unprofitable miners!  And then hope you can manage a net profit by selling them off to someone else who can't do the math!"

+10000

This is really what happens right now.

Says the biggest miner in the universe....

I did this selling block erupters on ebay, just so I could keep one to hobby mine for free =D

70 / 0.35 = 200 - so no, that calculation assumes difficulty remains static.  In other news, "Hope is not a strategy."  If one assumes about 13 days per difficulty adjustment (target is 14, but we regularly are running well faster than difficulty and ramping up quickly), that's only another 15 difficulty adjustments away!  At... 20-30% per adjustment.

At a 20% jump per step, that's ~15x the current difficulty (1.2^15), so that 0.35/day is actually around 0.02/day.

Does that count as a "complication"?

Or should I just hope more?

I dont know, do you count increase in difficulty every retarget?

"If buying one unprofitable miner isn't appealing to you, buy a lot of unprofitable miners!  And then hope you can manage a net profit by selling them off to someone else who can't do the math!"

Personally I believe the best option is to go in strong. If you're serious then spend big, rack up a few avalons, make some coins then sell them off, people pay a lot for them. You'll get what you paid for your avalons back and you've got yourself a little bitcoin nest egg for your trouble.

You can get a blade for BTC10.24. up to 12GH. After the upcoming difficulty change to 49 million (about 3 days away), it'd make about $14USD per day.

This could happened, unless BTC drop dead. Remember afew month ago BTC was at $250.00 each, but it might increase But I don't think it is, been dropping for a while now. 

I have one, its mining 0.35cents a day. That will still take me 200 days to get my $70 investment back. << Not counting complications

Wise words.  Very few people understand that the easiest and safest way to get rich with BTC is to just accumulate it and put it away, while ignoring all the noise and bubbles du jour (bots, loans, securities, and now mining) which promise thousands of percent return but at a significantly higher risk of losing "invested" capital.

The estimation is outright dumb.

Here's the evolution of mining tech:

1. CPU's - "everyone has them - but not so many people know about mining"
2. GPU's - "just a handful at the start, insane success, more people get involved" - you could still get profit even half a year after 7970 released to public.
2.1. FPGA's - a beast that only matters when you're limited by power (cost/availability)/thermal package (you plainly can't put 100 7970 into a small room) - otherwise the cost is on par with GPU's or higher.
3. ASIC's - again insane success at the start - but watch the dumbasses that have no understanding of what are they doing: doesn't matter what the hashing power is but you still get 6 blocks/hour distributed among all the miners.
3.1. "first generation of ASIC's" - like Avalon - low-end tech, insane success for Avalon and first owners. 66GH/s is still comparable to what was owned by miners (ah, ok, 20+ times more than I had). But GPU's still bring almost the same US$ they did a year ago.
3.2. "newer tech ASIC's" - similar numbers but lower power usage.
3.3. more investments and running towards the bleeding edge in lithography - with the potential of getting a lower cost, lower TDP and an order of magnitude faster units at the same time. But - this is almost the end of the technology race, after this point the situations like "for $1500 you get what the others have for $15k" will not be possible. Meaning not a "dead halt" of course but a serious decrease in hash rate GROWTH.
Remember, we still get 6x25=150 coins/hour?

W/o exchange rate growth - first-gen ASIC's that were obtained at the end of the summer/in autumn will not even bring their USD value back. Let alone BTC value. We know nothing about how long the units will be in working condition as well.

Except that difficulty will never go that high.  Orders will stop coming in as the difficulty rises.  An equilibrium will be reached at some point.

I predict that by December with all the new 28nm devices showing up, the difficulty will explode to over 500 million (10 times what it is now).

I even made a little wager over at Bitbet for this: http://bitbet.us/bet/508/btc-network-difficulty-to-top-500mn-before-xmas/

You don't have a terribly strong understanding of math, limits, or power costs, do you?

Your "opinion" is not backed by the people who have done "math" to determine that, no, you won't get a return out of it in almost all realistic cases.

But, hey, I'm sure there are half a dozen mining companies eager to sell you hardware based on that opinion!

so from all I have learned if I by KnCminer Jupiter today (estimated delivery October) and the difficulty increases about %15 every 10 days I might make about 4-5K correct?

the negatives the way I see them are:

- with no proven product who knows if KnC will deliver
- if KnC will be late by 20 days I will lose money
- if difficulty increases by more than %15 (which is likely given that most of the units will be delivered in September) I will lose money

the only positive is if BTC increases in value but I cannot bet on this

Question is it worth to given the negatives to get KnC (ie spend 7k) for remote possibility of 4K profit?

Guess we don't have to wait. All they have to do is deliver. That should be easy.

http://thegenesisblock.com/cointerra-500-ghs-chips-alydian-10-ths-hosting-and-icedrill-ipo-set-out-to-change-bitcoin-mining-landscape/

• After posting information about their well-credentialed team on their website earlier this week, Cointerra took to the bitcointalk forums yesterday to offer more detail into the performance and timing of one of their new ASIC chips. Titled the GoldStrike1, the chips are said to feature a 28nm process offering more than 500 GH/s at less than 1 Watt per GH and are expected for delivery by the end of 2013.
  

No sweat -- just wait three months... You too can have a baby THash unit.

If you can get a unit delivered before the 1st of next month @ ~$52/GHs with free electricity, you will break even in about a year.

Not quite how that works. When you're earning 75% less (compounded every 2 weeks!), if you don't make roughly 50% in your first month you can never ROI because every month your income is more than halved.

With 1 GH/s at current rates and free electricity:
Week 01-04: + 0.23 (0.23)
Week 04-08: + 0.13 (0.36)
Week 08-12: + 0.07 (0.43)
Week 12-16: + 0.04 (0.47)
Week 16-20: + 0.02 (0.49)
Week 20-24: + 0.01 (0.50)
etc

I understand your concerns but you can run the unit for long time like 5 years and add bits of BTC together. If you dont hurry, it can return your BTC in my opinion