How do you decide when is a good time to purchase miners? During a bear market like now would be a suitable time.
So it depends on factors that affect ROI:
1. Future technology mining roadmap e.g. introduction of 7nm
2. Bitcoin price outlook e.g. filing for Bitcoin ETF
3. Network difficulty
Any others?
wish I can buy more nowadays since where I reside electricity is super cheap and some of the miners are setup at a factory with self generated energy who doesn't care about extra power consumption... however recently there has been a unannounced ban on miners with many being and confiscated at customs (a friend of mine lost 150 miners!).
after investigating, we found out that the main reason was the internet provider issuing a official memo claiming that miners are disrupting their network bla bla....
..back to the subject, new miners will be more expensive and most likely not that efficient or not with that big difference in hashing power. with cheap electricity I guess it might be safe to purchase few current gen miners (my opinion).
Sounds like someone was lying to you.
A miner uses less network in a day than watching a single video on youtube.
Miner network per day:
18 SPM to node + tcp data reply from node
Each share also has a reply from the node + tcp data reply to the node
2 work per minute from node + tcp data reply to the node
1 extra work per network block from node + tcp data reply to the node
A share is about 190 bytes if the usename+worker is 17 bytes (so it can be a bit bigger or smaller dependsing on your username+workername)
the tcp data reply is about 51 bytes
The share reply is about 98 bytes
with again a tcp reply of about 51 bytes.
So total per share is about 390 bytes
At 18 SPM that 18 * 60 * 24 per day = about 25920 shares per day.
= about
10.1MBytes a day in sharesSecond is the work, data on one I jsut checked was 1317 bytes
This cna vary a bit due to the number of transactions available - but we'll go with 1319 since it makes a nice round number
the tcp data reply is again about 51 bytes.
So total per work is about 1370 bytes
You get 2 per minute plus one per block change = average about 2 * 60 * 24 per day + 144 blocks per day = about 2880 + 144 per day
= under
4.2MBytes a day in workSo say about
15MB a day per miner ...
)
)
