I am positively surprised that people keep adding miners since at these btc prices doing so is highly optimistic if not unrealistic.
I am all for canaan, but they need to have a more up to date price for their product, however, I am not buying bitmain either.
I would buy something if I had 4-5c/kwh. At around 9-10c, it is a losing proposition (for now).
Aren't we all optimistic here on
BTC, otherwise what the heck are we doing here to begin with?
Yeah, eventually, plus using already bought miners is fine.
I would not buy new myself since, as I pointed out, i have too high of an electricity cost.
Yeah, like the guy on eBay who just sold five (5) Avalon6 miners for less than $400--probably because it was adding $300 to his electric bill.
If I was him, I would apply the proceeds toward a few 741s and save $180 per month in electric.
Well - although it's not best for the pool ... and a mod deleted my post stating this recently ... and I have been pointing out this fact for many years ...
What you'd be best to do with your $ would be to buy BTC
If you wanted to sell your miners, then decided to buy BTC, you know you'll get back the BTC you spent ... coz you don't lose any of it mining or paying for electricity
Then when the BTC price is a lot higher, you make that full profit on all the BTC, not a % of it
If the BTC price drops, well you did no worse than if you had bought a miner that mined less BTC than it cost.
If however, you have some profitable accounting deductions that is better than the amount of BTC lost from buying a miner, then you can of course do better out of buying miners.
Of course we do all assume that the BTC price will rise ... and well it's certainly expected to as long as you don't look at it as a day-trader, but instead look at it long term ... then either way you should make a $ profit as long as you don't sell the BTC on the way down or at the bottom of every price drop it has, but wait for the rises.
