Is it to late to buy an S7? | Bitcointalksearch.org

DrG

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Quote from: kahir on May 09, 2016, 05:15:45 AM

Quote from: Amph on April 07, 2016, 01:10:57 AM

no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages

amph it have not started yet Cheesy

... just wait till halving and get them dirt cheap ... maybe half the current price lol

At the halving revenue drops to half but operating cost stays the same (assuming nobody quit mining) so discounting for fees the income should be less than half.

kahir

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Quote from: Amph on April 07, 2016, 01:10:57 AM

no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages

amph it have not started yet Cheesy

... just wait till halving and get them dirt cheap ... maybe half the current price lol

philipma1957

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If anyone wants a free coupon for 100 usd for 1 s-7 send me a pm.

Do I think op should jump in on at s-7?

only if he can afford to lose money. Right now I think 6 or 7 cent power stands some kind of a shot.

notlist3d

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Quote from: talks_cheep on May 03, 2016, 11:05:23 PM

tl;dr, It is too late to start mining with an S7, you are too late to the party/train/whatever. Party's over, the train has left the station. Bitmain S7 is a junk anyway, lots of S7 are dying, they didn't last a year unlike the S3's. All the biggies are replacing the S7 with the 16nm new gen miners. Don't be a bag-holder of last gen miners.

It is not necessary to late, so many variables I never say to late. First we have to look at electricity price... for some very cheap others not so much. The OP at .09.... is not cheap but more "normal" range. So it's a little harder right now.

But not knowing what having will do to value, or hashrate at that point we cannot give good speculation on a lot. It is just hard to say. I bought one of the last of the previous gen S5+ (was right before S7) and I did pretty well on it..... so cant say late can never make profit. It was also one of my favorite miners and it was late in that generation.

talks_cheep

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tl;dr, It is too late to start mining with an S7, you are too late to the party/train/whatever. Party's over, the train has left the station. Bitmain S7 is a junk anyway, lots of S7 are dying, they didn't last a year unlike the S3's. All the biggies are replacing the S7 with the 16nm new gen miners. Don't be a bag-holder of last gen miners.

Barbut

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Its never late to invest in bitcoins. Here is more important to have cheaper electricity then you can earn something. I would buy one miner long time ago but here in my country electricity is too expensive.
Good luck with your project.

notlist3d

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Quote from: InsideBjorn on April 15, 2016, 03:54:53 PM

I do understand why people want to join the mining game. but what I don't understand is why they expect profit. Any newbie can check this forum or for the lazy ones use a calculator and see it is not profitable anymore for the home miner?

They expect it as they look at mining past. At one time it was a 3 month ROI which is AMAZING. Nothing hardly has a 3 month ROI. But these day's mining got industrial size, and timeline is much longer. Became a game all about electricity...

It is profitable for some home miners, depends on electricity. The "lucky" ones with apartments with electricity included will be able to mine pretty much always. The ones with high electricity day's are over. And what I considered normal.... is pretty hard anymore to profit. So yes can be done. But far from past on being easy.

InsideBjorn

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I do understand why people want to join the mining game. but what I don't understand is why they expect profit. Any newbie can check this forum or for the lazy ones use a calculator and see it is not profitable anymore for the home miner?

notlist3d

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Quote from: ThatDudeTheres on April 15, 2016, 01:35:21 PM

Yeah i think it's controlled profits. They are benefiting from new hardware, but i think they won't sell to us untill they upgrade 2 generations ahead of what we can get. I think the glory days are over.

They also are benefiting by designing as low cost as possibly can be done. The new 1 fan design they saved 50 percent of fan costs. May not seem big but if you sell 10's of thousands it would add up. So they are benefiting as I think they have mastered S7 from production. They likely have costs as low as they can with one fan, high freq, less chips, etc.

So now they just ride last bit of S7 profits they can. And price drop was to boost sales looking at difficulty I believe it did it.

ThatDudeTheres

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Yeah i think it's controlled profits. They are benefiting from new hardware, but i think they won't sell to us untill they upgrade 2 generations ahead of what we can get. I think the glory days are over.

notlist3d

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Quote from: asrilani on April 15, 2016, 11:21:23 AM

Quote from: notlist3d on April 08, 2016, 02:04:48 AM

Quote from: talks_cheep on April 07, 2016, 09:06:54 PM

Quote from: ThatDudeTheres on April 07, 2016, 08:19:24 PM

I'm in the US

There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us. With .09 cents you are still at the high side of electricity. So profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI. Just a tough time for miners.

The S7 is not profitable for the high electricity cost miners as the difficulty is too high. That was the reason Bitmain reduced the price.

This is only a half truth. NOTHING is profitable at high electricity costs. So you can pick S7 to mention, but the problem is not the S7 but the nature of mining now day's

We don't know bitmains reason for reduction of price I have a feeling it was to stir up sales. I think it worked and got them many sales with coupon. But their goal was sales not to save those with high electricity costs.

asrilani

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Quote from: notlist3d on April 08, 2016, 02:04:48 AM

Quote from: talks_cheep on April 07, 2016, 09:06:54 PM

Quote from: ThatDudeTheres on April 07, 2016, 08:19:24 PM

I'm in the US

There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us. With .09 cents you are still at the high side of electricity. So profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI. Just a tough time for miners.

The S7 is not profitable for the high electricity cost miners as the difficulty is too high. That was the reason Bitmain reduced the price.

notlist3d

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Quote from: talks_cheep on April 07, 2016, 09:06:54 PM

Quote from: ThatDudeTheres on April 07, 2016, 08:19:24 PM

I'm in the US

There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

If it's a large number on import tax on miners make sure to get it fixed with shipper, it should be none to small (normally none) in us. With .09 cents you are still at the high side of electricity. So profits are far from guaranteed.

I would suggest trying one to get into mining, but know it might not ROI. Just a tough time for miners.

talks_cheep

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Quote from: ThatDudeTheres on April 07, 2016, 08:19:24 PM

I'm in the US

There's no import tax for mining gears from China in the US. Although, there was a guy here who had to pay customs fee due to paper work snafu inside UPS/Fedex/???

ThatDudeTheres

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I'm in the US

notlist3d

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Quote from: ThatDudeTheres on April 07, 2016, 09:54:36 AM

My electricity is .09/k. I don't think I have import tax?

Electricity is nothing special, it is on the high side of mining. What country are you in? We can tell more on import tax. But at .09 cent's I would not get to deep in buying current gen gear.

You might be better off buying BTC. Hurts me to say as a miner but true.

asrilani

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Quote from: Amph on April 07, 2016, 01:10:57 AM

no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages

It is cheap for a reason. I will not buy a S7 if I have to pay for the electricity more than $0.15 per kWh.

ThatDudeTheres

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My electricity is .09/k. I don't think I have import tax?

notlist3d

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Quote from: ThatDudeTheres on April 06, 2016, 11:25:44 PM

Not sure if I filled out the calculator right, but it doesn't look good.

Date    Difficulty    Revenue    Profit    Return
2016             -8080
4-7 – 4-12 (6 days)    166 G    12.27    12.02    -8068
4-13 – 4-25 (19 days)    200 G    10.24    10.04    -8058
4-26 – 5-8 (32 days)    240 G    -0.2808 -0.2752 -8058

I would take a look at it again, it should not ave a 8000 starting point unless you are doing a LOT of S7's. Were talking a much smaller investment. But your right profit is harder and harder.

What is your electricity price? Also do you have vat/import tax?

talks_cheep

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Quote from: SFR10 on April 07, 2016, 02:41:36 AM

Honestly, regardless of electricity, If I had the funds for an S7 (excluding shipping), I would go out and purchase one since it's on the cheap at the moment, and you get to get back what you spend just in right time before the halving. An S7 gives you $186 on monthly basis (assuming with current difficulty only) and not $300 as you were asking. It's price is $575 on bitmain (one fan) at the moment and if you were lucky enough to get your hands on one of the discount coupons , you can get it for $100 less so the ROI is even sooner with less $100 on it's price tag.

Smart money says, if you had the funds for an S7, you'd be better off buying btc instead of a miner to mine for btc wasting your electricity. The cost of an S7 includes not just the miner itself but also it requires a Power Supply Unit at least 1600 Watt, the electricity to run it and internet.

As others pointed, you won't make $300 in a month with only one S7. You're too late to the party. The diff factor is rising fast, thanks to all the idiots like you who bought S7 miners thinking these were money printers. Better to buy bitcoin directly than to buy miners to make bitcoins, the latter makes no sense.

SFR10

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Honestly, regardless of electricity, If I had the funds for an S7 (excluding shipping), I would go out and purchase one since it's on the cheap at the moment, and you get to get back what you spend just in right time before the halving. An S7 gives you $186 on monthly basis (assuming with current difficulty only) and not $300 as you were asking. It's price is $575 on bitmain (one fan) at the moment and if you were lucky enough to get your hands on one of the discount coupons , you can get it for $100 less so the ROI is even sooner with less $100 on it's price tag.

Amph

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no one is only making 0.42 per month minus electricty, 300 is a dream at present, but with cheap electricity is still profitable

the good thing is that one s7 now is very cheap compared to the early stages

Gohs

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Does S7 have the least energy consumption rate of all the calculators?

ThatDudeTheres

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Not sure if I filled out the calculator right, but it doesn't look good.

Date    Difficulty    Revenue    Profit    Return
2016             -8080
4-7 – 4-12 (6 days)    166 G    12.27    12.02    -8068
4-13 – 4-25 (19 days)    200 G    10.24    10.04    -8058
4-26 – 5-8 (32 days)    240 G    -0.2808 -0.2752 -8058

FUBAR-BDHR

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Quote from: ThatDudeTheres on April 06, 2016, 06:46:16 PM

Do S7s still make $300ish per month? I can order one now. When do the new versions come out? If it's 3 months it should be worth it.

The simple answer is no they don't.

Code:

The expected generation output, at 4.7 thps, given difficulty of 166,851,513,282.777191162109,
is 0.014166252261 BTC per day and 0.000590260511 BTC per hour.
Given this rate it will take you 10 weeks, 0 days, 14 hours, 10 minutes, and 1 second to make 1.0 BTC

So your looking at close to 8 weeks to make 300 now and that's before the reward halving. This is before electric and the cost of the S7 itself which as others have pointed out is a huge factor in determining if you will make anything. Even with free electric your looking at 30 weeks before making a dime.

alani123

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The ROI is higly dependent on your electricity costs, difficulty and the price too, mining equipment is always going to be a risky investment. With that said running a profitability calcuator, as suggested already, might be the best thing you can do to see what the possible outcomes could be. But be sure to check for multiple scenarios such as big difficulty increases and lower BTC price.

notlist3d

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Quote from: ThatDudeTheres on April 06, 2016, 06:46:16 PM

Do S7s still make $300ish per month? I can order one now. When do the new versions come out? If it's 3 months it should be worth it.

You will need to run a ROI with a calculator and your electricity price. Electricity price is huge. https://bitcoinwisdom.com/bitcoin/calculator

But on next bitmain product... they are quiet no one can say. It's highly speculation at this point. No leaks or anything like some in past. So no one can tell you if you get 3 months before a new product or not from them.

ThatDudeTheres

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Do S7s still make $300ish per month? I can order one now. When do the new versions come out? If it's 3 months it should be worth it.

Topic: Is it to late to buy an S7? (Read 2635 times)