Topic: Mining when the Bitcoin value goes up (Read 1240 times)

Understood for the naming of S7 batch 6. About its price, it went down 18% and fluctuating (1866 B5 to 1577 B6) for hashrate it want also down by 20%. If well priced before it should remain still well priced. Maybe you could elaborate your mind about pricing?

I was interested about S7 because its price did not increased much even in the recent surge of BTC value. I have a feeling that used miners prices went up by a good factor. The major downside of S7 is that I could expect to get it in about 46 days.

I did will followed your advice about earlier version of miners. For now, I found the following prices on major sites. It seems to indicate the old miner prices are now too high:

S7:2400$ --46 days before start
S5:825$ --5 days before start
S3:233$ --5 days before start
Prices include PSU and shipping

Then I did 3 senarios:

------------------------------------------

Model    Income / investment
S7   0.45
S5   0.35
S3   0.24
   
constant BTC at 400$ CAD   
5% difficulty increase per period   
0.086 $ per Kw/h   
   
---------------------------------------------------------------   
   
Model    Income / investment
S7   0.59
S5   0.46
S3   0.38
   
constant BTC at 400$ CAD   
3% difficulty increase per period   
0.086 $ per Kw/h   

------------------------------------------------------------
   
Model    Income / investment
S7   0.97
S5   0.86
S3   0.93
   
constant BTC at 600$ CAD   
5% difficulty increase per period   
0.086 $ per Kw/h   

------------------------------------------------------------

My conclusion is that S7 is better now because of high price of older miners. I hope you will find something wrong in my calculation

If you paying electricity there is quite a bit difference between S7 and S5.   Now btc went up yes S5's will stay important longer.

He's at .07 usd so pretty good. It will all depend on what price he can get a S5 for and compare that to  an S7, with longer life since big efficiency jump.  I suggest OP try a few different ROI situations out here: https://bitcoinwisdom.com/bitcoin/calculator

Depending on difficulty changes it can very a lot even that December 17th date with all the manufactures right now it will be hard to predict percentage then.  So it will be interesting.

First of all, the rumored S7 lite was a 2 board design, which is not what we're looking at with the S7 "now lighter", just to point out what i meant by one and the other. The now lighter S7 seem overpriced to me, it is the same price as what the default S7 was. So an actual S7 light, or one with 2 boards that does 3.5TH/s could be more attractive.

Then the 5% seem unlikely for any amount of prolonged time, if it does it would probably be because BTC keep going up at the rate it is. Also don't put all your hopes on ROI'ing a S7 solely on the current BTC price, it could go down.

Since we have cheap electricity here, your rate seem to mean you're mining at home counting the rate after the first 30 kWhs in a day, i think a better miner for you would be the S5, or maybe even a S3 depending on the profitability of the next 3 months and how much you can get them for.

Do the math, but i doubt the S7 would be better for you than a S5 at a acceptable price, by quite a fair margin.

I live in Quebec and pay my electricity 8.6 CAD/Kwh. I've been reading about mining a lot this week and I'm seriously thinking buying an S7 now lite (maybe there are better options). They currently ship these units 17th December + 5 days (not late delay)

I'm totally afraid that difficulty will increase by a good factor during these waiting days and killing all profitability. If my calculations are good, at constant BTC, I would break even if difficulty increases steadily by 5%. Does a steady 5% make sense?

Halving that is coming before my projected ROI is another factor...

Any advices?

Well if your costs to run a 15A 120V breaker at 12A for 1 month is 4 cents~... Thats would be like effectively free electricity. You could get a tons of Antminer S1 and S2 and make total bank. If you can ramp it up a lot, you could sell hosting and make 50-75USD per kW rented. Assuming your electricity is actually 3cents per month per kW.

Where do you live?

how it's not very revelant, i can potentially mine only where there are pump, and then shut down if electricity is too high or keep mining, in both cases i'm maximizing my profit

in these time you can earn a lot, when bitcoin skyrocket, then you simply sell your miner if roi is still too far away

I'm guessing he means 6.3 cents for the first 200 KWH or something.   Some electric companies have a variable based on how much you use.

Can you go into your electricity a little bit more in details?  It is hard to say without knowing more on your electricity.

2000 kWh is 6.3 cents ? Something does not add up. That would mean you pay nearly nothing per hour since a S7 is 28.8 kWh per day.

With this nearly free electricity it would take 7 months to ROI. Not sure why you're paying 2415$ instead of 1700$ per.

Price level of bitcoin is not very relevant. The main factor is price of mining gear and energy efficiency. It is profitable to mine now, you can buy secondhand miners.

That really depend on your setup, miner and electricity cost. Its profitable to mine for me all the way down to 100$ though its nothing very exciting at that level. Tell me your electricity cost and your budget and we can discuss options.

Because the earnings are in bitcoin whatever the price is,
I think that the more that bitcoin has more value the more is the difficulty.
But at the moment i think that people are getting sooner the ROI, maybe ideal price should be 350-400

Even with 0.06$ CAD/KWh (0.05$ USD), I have trouble reaching ROI with the most recent miners.
One thing to keep in mind is if BTC value's up, more people will mine. Consequently, difficulty goes up.
Although it wasn't that bad 2 days ago when the difficulty was adjusted.

A number of factors in play here, you really need to do the maths for your setup, but to give a couple of points. I have expensive $0.15 Electricity and when BTC was down at $225 I switched off my S3 was undervolting my S5 to make any money, now that we are over $300 the S5's are running flat out and I have switched back on the S3's.


Rich

It really depends on a few factors, your electricity rate, what your mining with, what you paid for your miner, pool fees etc all play a role in if it is profitable for you or not.

until the halving anything above 300 could be profitable but it also depends on electricity rates or your country etc...
400 would get you be pretty good ROI.

Whats the nominal price of 1 BTC , in order to make mining profitable again ?