My friend has S11 Pro, Which Crypto Will give me more profit than Bitcoin mini

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Quote from: fmz89 on January 05, 2023, 05:37:09 AM

Dont get you wrong asic still more profitable than gpus at very moment. And hashrate going down, if you get 0,05$ electric then is doable for leaving the asic turn on all day, there nothing you can do if already bought such asic, sell at loss or keep mining, miner dilema Grin

I think that running an ASIC with 3250 watt power consumption it can be done with a 0.05$ electric cost but only if you are in for the long run.It will make you about 70 dollars in profit every month the S19 with 100 Thsh of hash rate with that electric cost.This is great to do and by doing so you increase your stash of Bitcoins daily as I took not the most profitable coin in this comparison which right now is Digibyte but the king of them all,Bitcoin and for the long run you will be very well prepared.

fmz89

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Dont get you wrong asic still more profitable than gpus at very moment. And hashrate going down, if you get 0,05$ electric then is doable for leaving the asic turn on all day, there nothing you can do if already bought such asic, sell at loss or keep mining, miner dilema Grin

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Quote from: adaseb on December 12, 2022, 12:18:49 AM

Why buy crypto when it can crash and lose 50% or buy some stock which can also crash when you can get a nice >5% rate which is pretty much risk free.

To be fair, it also depends on the time one buys crypto or stocks

Most people including institutional investors jump into the ship only when Bitcoin starts making headlines and new all-time highs only for prices to correct in a couple of months

Very few people collect sats when things look ugly like it is right now.

adaseb

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Yes those are very attractive rates. And this is why many who got money on the sidelines are just putting it in safe bonds. Why buy crypto when it can crash and lose 50% or buy some stock which can also crash when you can get a nice >5% rate which is pretty much risk free.

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Quote from: adaseb on December 11, 2022, 12:33:22 AM

Quote from: Bitcoin_Arena on December 10, 2022, 08:36:27 AM

Quote from: adaseb on December 10, 2022, 12:08:45 AM

If you read author Hayes new blog post he is blaming part of this crypto crash on mining companies.

They basically take out fiat collaterlized loans again their bitcoins, future mined bitcoins and mining equipment.

Most importantly, why would someone take out a fiat collateralized loan against their future mined bitcoins, knowing that the market can change in a blink of an eye? Grin

Very poor decision IMO.

I think the worst thing one can do is take a loan and then make the very business that's generating the income as collateral. It's pure gambling.

Well a lot has changed since last year. We were in a raging bull market. BTC miners were making killer profits. So where ETH GPU miners. Keeping money in the bank yielded less than 1%.

So people and companies were lending out money to Bitcoin miners. And they didn’t realize that say a $10000 ASIC can very quickly become a $2000 asic and it won’t take long.

Bitcoin falls, so your collateral is worth less, when Bitcoin falls you need to sell more Bitcoin to pay loans and electricity, and when Bitcoin falls and difficulty is huge the ASICs are worth less. Hence why so many of these lenders got burnt.

yeah look at USA bonds and t-bills now.

Quote

https://bitcointalksearch.org/topic/m.61427479

"...I can get 6.89% on a USA I Saving bond. This is perfectly pegged to the USD

People are flocking to usa bonds and bills

2 year t bill is 4.28% soon to rise
5 year t bill is 3.638% soon to rise
10 year t bill is 3.57% soon to rise

these numbers = pressure on crypto..."

adaseb

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Quote from: Bitcoin_Arena on December 10, 2022, 08:36:27 AM

Quote from: adaseb on December 10, 2022, 12:08:45 AM

If you read author Hayes new blog post he is blaming part of this crypto crash on mining companies.

They basically take out fiat collaterlized loans again their bitcoins, future mined bitcoins and mining equipment.

Most importantly, why would someone take out a fiat collateralized loan against their future mined bitcoins, knowing that the market can change in a blink of an eye? Grin

Very poor decision IMO.

I think the worst thing one can do is take a loan and then make the very business that's generating the income as collateral. It's pure gambling.

Well a lot has changed since last year. We were in a raging bull market. BTC miners were making killer profits. So where ETH GPU miners. Keeping money in the bank yielded less than 1%.

So people and companies were lending out money to Bitcoin miners. And they didn’t realize that say a $10000 ASIC can very quickly become a $2000 asic and it won’t take long.

Bitcoin falls, so your collateral is worth less, when Bitcoin falls you need to sell more Bitcoin to pay loans and electricity, and when Bitcoin falls and difficulty is huge the ASICs are worth less. Hence why so many of these lenders got burnt.

Bitcoin_Arena

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Quote from: adaseb on December 10, 2022, 12:08:45 AM

If you read author Hayes new blog post he is blaming part of this crypto crash on mining companies.

They basically take out fiat collaterlized loans again their bitcoins, future mined bitcoins and mining equipment.

Most importantly, why would someone take out a fiat collateralized loan against their future mined bitcoins, knowing that the market can change in a blink of an eye? Grin

Very poor decision IMO.

I think the worst thing one can do is take a loan and then make the very business that's generating the income as collateral. It's pure gambling.

adaseb

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If you read author Hayes new blog post he is blaming part of this crypto crash on mining companies.

They basically take out fiat collaterlized loans again their bitcoins, future mined bitcoins and mining equipment. And this is why recently we saw a difficulty decrease. Basically the mining ASICs are down like 80% in value. Nobody has the cheap power to run them. And they are forced to liquidate and sell their coins.

So don’t be surprised why your profits are low, they are low for everybody. GPUs miners have it even worse.

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Quote from: fennic on December 07, 2022, 01:48:13 PM

Hi guys my friend has Antminer s19 pro that comes with almost 110 TH power. And I have check that I can get almost 5 to 6 dollars max with such profit. And that's not enough with Such hardcore investment. I think that mining Bitcoin for. Long term could be a good investment cause when btc will be at higher price than current price than our holding BTc could be a fortune for us.

I also know that Bitcoin is running on SHA-256. in my opinion there will be some other crypto that might give us much more profit than Bitcoin mining.

As you say mining for the long term can be really profitable when the next bull run comes,many predict it to come in the 2025 year although for me it may come even earlier and I would not be surprised.If you can afford to mine at a loss go ahead and do so,other than that there is not much else you can do.You can buy the coins but it is more difficult to hodl them for the long time when you buy them rather than when you mine them because mining is a continuous process while you buy them once and just hodl.

FP91G

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Very little profit when consuming 3250W. There are not many coins on the SHA-256 algorithm, but the profit will be approximately the same due to the work of hashrate aggregators that will mine the most profitable coin. As the hashrate increases, your profit will fall.
https://www.asicminervalue.com/miners/bitmain/antminer-s19-pro-110th

adaseb

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There really isn’t much of a profit difference with the same algo. You can switch back and forth between coins but guess what? There are already large farms which are doing the same to maximize profits. So you will make the same as mining Bitcoin directly.

Yes profits are bad. There was a BTC difficulty reduction even because mining lately is very unprofitable. You need to mine at a loss and sell during the next bull run.

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Quote from: fennic on December 07, 2022, 01:48:13 PM

I also know that Bitcoin is running on SHA-256. in my opinion there will be some other crypto that might give us much more profit than Bitcoin mining.

This is the challenge with ASICs, you only have a specific algo you can mine

Use this too to make approximations, but things are not good at the moment - https://whattomine.com/miners

In the last 24 hours, this is the approximate profitability of the top 3 SHA-256 coins as shown in the last column provided the power cost is $0.1 per KW

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The options really are limited when you’re talking about a product that is made with a dedicated ASIC specifically for mining BTC. Sure, there are other options out there but nothing is want to touch and even if you were planning to invest in a different sha256 coin, you’d still be better off mining BTC and then using that to buy BSV or BCH or whatever other shitcoin you might have your eye on.

philipma1957

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Quote from: fennic on December 07, 2022, 01:48:13 PM

Hi guys my friend has Antminer s19 pro that comes with almost 110 TH power. And I have check that I can get almost 5 to 6 dollars max with such profit. And that's not enough with Such hardcore investment.

I also know that Bitcoin is running on SHA-256. in my opinion there will be some other crypto that might give us much more profit than Bitcoin mining.

Not really BTC is best to mine with the s19 or the s11

Times are bad at the moment

fennic

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Hi guys my friend has Antminer s19 pro that comes with almost 110 TH power. And I have check that I can get almost 5 to 6 dollars max with such profit. And that's not enough with Such hardcore investment. I think that mining Bitcoin for. Long term could be a good investment cause when btc will be at higher price than current price than our holding BTc could be a fortune for us.

I also know that Bitcoin is running on SHA-256. in my opinion there will be some other crypto that might give us much more profit than Bitcoin mining.

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