Topic: Is it time to shut down 1st Gen ASICs? (Read 3049 times)

My Generation 1 Avalon does 84 GHash/sec for only 700 Watts and brings in 0.011 bitcoins a day which is worth $7, more than twice what it cost in electricity.

It is still worth running.

Back in April this same Avalon was generating 7 bitcoins a day, which was over $700 a day at the time.  This is the same Avalon that was almost stolen.

After the difficulty doubles I will shut it off.  I will sell the power supply on eBay and feed the rest of it to my livestock.

If all else fails with the ' older ' mining equipment, I've started a thread regarding e-waste

bitcointalk.org/index.php?topic=505754

So far, a few looks and no comments except my own.  If you can afford the shipping to BC, Canada I'm willing to accept your old miners ( 386 or newer, no monitors with tubes unless it's either a PET or a MAC Classic )

 

Im Buying your old Miners for a good price here :https://bitcointalk.org/index.php?topic=493811.0
Send me a PM with what you have and i will give you a price
Thanks,
JT

Ouch lol sorry about my English !! Grammar was allways one of my weak points in school.. Guess I need to run that spelling and grammar check befor I post  !! I will try to be gooder at it for u !! They should of never gave me that diploma I need to go back !!!

Best thing to do is consider a sweet spot of resale value. Recently when the price rose people were paying stupid money for ASICMINER USB's and i was able to sell some for more then i paid for originally regardless of BTC mined. Sold a BFL Jally for almost what it cost me and that had been mining for 9 months, otherwise the switch off point is when it costs more to run unless you are prepared to pay out of pocket for convenience of mined coins versus using an exchange.

When 2015?

That's likely because while we where given an education these folk, likely the younger generation, weren't. They have been taught to only sign their name.

not to be confused with riting, which has something to do with goats, i'm led to believe 

I know I shouldn't comment on poor grammar on a forum.  But this sale/sell thing has me confused.  I've never actually heard anyone use the word "sale" in place of "sell" in person.  It seems to be only in writing (righting, lol) and usually in comment sections on blogs and message boards.

Older ASICs may not be so great for Bitcoin mining itself, but absolutely zero reason not to mine on another network with them.

If you have an old miner throw it on Mazacoin or another SHA. I have actually found mining on the other networks to be decently profitable without the hard diff curve to fight continuously.

You're... noticing the bad English on this forum now? I don't think I've ever been on a forum with worse spelling and grammar, so I just ignore it since I have no choice (even though that's usually the sort of thing that makes me cringe).

There their they're your you're yaw yore "alot"... all the abuse you can imagine and more..

But at least it gives me an excuse to post this again:
http://hyperboleandahalf.blogspot.com/2010/04/alot-is-better-than-you-at-everything.html

More importantly...
when did the word "sell" get replaced by the word "sale"?  I see it all of the time on bitcointalk and other places. Sale is a noun and sell is a verb.  "I'm going sale my old ASICs" should read "I'm going to sell my old ASICs".  Right?  Or did this suddenly change?

In short the answer is no as there will always be other Alt-coins that you can mine with ASIC technology, and the alt-coins will always have a much lower difficulty level than bitcoin so you can mine tons of them and covert them to BTC if you want.

It was a pretty easy choice for me after I did the math. My choice was either mine with my first generation stuff for another 30 days and make maybe  another 1000$ or sale everything on eBay and hopefully make 3000$ back. But there was no garentee that my auctions would sale fast. Plus i had allready mined allmost 4 btc wih the miners befor I sold. I had 18 -  10 gh/s blades and couple asic cubes ..  In about 2 weeks i ended up making about 3500$ after fees in my paypal acount.  I was lucky and at the time bitcoin was down to around 500 $ I used the money to buy two 180 ghs antminer S1s. Im now waiting for 5 more antminers I should get on Monday. That was the last of all my bitcoin I had. I've allready allmost mined 1 bitcoin with the 360 ghs of antminers I've allready had online. I hopefully will make another 4 bitcoin once i get the other Antminers in. Then in a good 30-45 days from now I will sale all the antminer S1 miners on eBay and hopefully they will still be worth 500$ each or so. Then ill repeat the process with 1 th/s - 1000 watt miners ..  This is for sure the key to being succesfull in bitcoin mining .. Well unless you want to make huge investment in risky Pre orders .....


  I do wonder if difficulty slows down a little during this next month I could end up maybe under clocking my Antminers like you guys said and try to get out more bang for my buck on the power side. This could maybe get me more time mining but at the cost of the miner being worth 50% less at resale on eBay ......

NO.

Gen 1 Avalons draw ~750W.  At 0.18 / KWh, that is $3.24 per day.  Plus there is taxes on your electric bill, and good luck getting the expense deducted from your income tax.

BFL Singles and nitro jalapenos. They might be second generation, I don't know. But nice little boxes no doubt.

The real fun would be to replace the chips with a Monarch chip. Yes I am thinking about this... :-)

C

Just some food for thought ... if the price goes up the unit remains profitable. Sometimes it is worth it to mine at a loss and hold, if lady luck is on your side you will end up ahead. Mining is a nice anonymous way to obtain BTC. My electricity cost is how I pay for my investment rather than cash to an exchange to buy BTC from my bank.

Which first gen machine are you running?  I was thinking the same thing, underclock it and see how much the power usage drops.  Although it's probably more profitable to just sell it off on eBay or Craigslist.

Not yet by far; my 60gh units are still making more than their electricity input.

I've also been working on a concept: The units generate a lot of heat and pull a lot of power, but the usage is not linear. If you reduce the power to the chips and reduce the clock speeds, then the heat output will go *WAY* down, at the cost of 5-8gh of performance.

Thus there is a horizon coming up where "is the last 6-8gh worth the extra 50-100 watts of power?" That might be the spot to hit, then you get to run with less electricity, less cooling (going to be important in the summer) and so forth.

It was bound to happen, time to turn the red giant into a nice cool little red dwarf.

C

My rates are 0.09c/kwh but I powered my 4x BFL 60 GH/s and sold on ebay before they became worthless.

Profite was high compare to electricity cost but my main investment is on LTC mining