Topic: Need recommendation on mining just to earn $50/month, don't need to make profit (Read 1844 times)
March 23, 2016, 11:58:36 PM
Seriously dude. Find somewhere to buy btc for cash and save yourself the headache
March 08, 2016, 05:05:22 AM
Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).
Electric cost doesn't matter in that case (usually).
Offcourse, his opinion about this fact might change after he/she receives a hefty power bill from his power company... But indeed, this is what i also understood after reading the OP.
True. I was just concerned OP may not know what the cost is likely to be or that the earnings are likely to fall. It is likely to cost him more than $3 to earn $2 in Bitcoin. It is also not clear if OP understands difficulty changes and halving.
No need to perpetually go in a loop speculating about OP. The cost of electricity does not apply in his calculation, he already specified this in OP. We talked about me selling him the hardware he'd need. The concern is really just shipping costs.
Regardless, he understand plenty well the power consumption. No need to turn this into multi-page of conjectures.
March 08, 2016, 04:30:35 AM
Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).
Electric cost doesn't matter in that case (usually).
Offcourse, his opinion about this fact might change after he/she receives a hefty power bill from his power company... But indeed, this is what i also understood after reading the OP.
True. I was just concerned OP may not know what the cost is likely to be or that the earnings are likely to fall. It is likely to cost him more than $3 to earn $2 in Bitcoin. It is also not clear if OP understands difficulty changes and halving.
March 08, 2016, 03:30:21 AM
Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).
Electric cost doesn't matter in that case (usually).
Offcourse, his opinion about this fact might change after he/she receives a hefty power bill from his power company... But indeed, this is what i also understood after reading the OP.
March 08, 2016, 02:58:29 AM
Re-read original post, OP stated he didn't care about profit, just raw Bitcoin income.
Electric cost doesn't matter in that case (usually).
Electric cost doesn't matter in that case (usually).
March 07, 2016, 07:23:25 PM
can you guys recommend a piece of machinery, in $200-400 range that you know works fairly good, won't break easily and won't be too much of a deficit. So if i make $2/day let's say electricity cost $3/day, something like that is fine where i'm losing each day.
Can you give us your electricity cost in cents per kWh (including any taxes). Also if you have somewhere to run the miner where the noise and large amount of heat will not be an issue.
It makes a major difference to the preferred hardware and your costs.
For example to earn $2 per day you would need about 1.5 Terrahash (https://bitcoinwisdom.com/bitcoin/difficulty).
This is about 1 S4 or 4 S3s (or 1.5 S5s). You are looking at about 1,400 Watts, which is quite a bit of heat.
The electricity will cost roughly $4.00 per day assuming you are paying around 15 cents per kWh.
March 07, 2016, 11:22:57 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).
Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.
Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).
Quote
If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.
[/quote}
That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.
Ditto the SP20, but it held it's value better.
Paypal I would suggest is just as strong on buyer protection. If not possibly stronger. I'm not sure how many have dealt with it (I have from both sides) they tend to side with buyer.
But forum is cheapest place you will find in most cases. Also besides S5 there is SP20 and Avalon 4.1 in same area. So any of the 3 would work for what your wanting and are in that price area.
March 07, 2016, 08:46:44 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).
Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.
Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).
Quote
If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.
[/quote}
That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.
Ditto the SP20, but it held it's value better.
Yeah, i'm pretty sure i could sell an S5 for less than what Amazon is listing it for, or ebay or any resellers.
March 07, 2016, 04:12:13 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
The Amazon listings for S5s would also all be used, and Amazon is pretty strong on buyer protection (and a LOT LESS so on seller protection).
Their fees do tend to be high, so they tend to have some of the higher prices on stuff, it pays to shop around.
Also, keep in mind that the current difficulty flatness is probably a one-time abberation that won't repeat anytime soon, your income will mostly likely drop slowly 'till July, then the reward halfing will drop it in half (give or take difficulty adjustments - I DO expect to see a couple of difficulty DROPS shortly after the halfing though probably NOT enough to make up for the halfing in total, then start increasing again).
Quote
If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.
[/quote}
That's me, my S5s were more stable than my Internet connection, but at my current electric rate they were making all of $1-$2 a WEEK, so I sold them off while they were still worth a substantial fraction of what I bought them for.
Ditto the SP20, but it held it's value better.
March 07, 2016, 03:14:30 AM
i'll be paying a company that accepts bitcoins
March 07, 2016, 03:10:35 AM
Do you have to pay the bills in fiat currency? I would guess that you do. I don't quite know how you'll remain anonymous once you go through some kind of exchange in order to convert the Bitcoins to "real money" that other folks will accept.
Also consider the heat and noise that will be produced by any kind of miner that will produce the BTC that you want. Just something to consider.
Also consider the heat and noise that will be produced by any kind of miner that will produce the BTC that you want. Just something to consider.
March 07, 2016, 02:56:23 AM
awesome
so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though
an S7 will do around $187 assuming the difficulty remains the same which it always changes (per 2 weeks). Their main difference is an S7 Antminer is one of the most efficient mining rigs at the moment and s5 is behind it and that makes the breaking point of being profitable than s5.so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though
You could also try the following link: https://bitify.com/section/crypto-mining/
there's an s5 in auction there although personally haven't ordered anything from there (yet).
March 07, 2016, 02:36:55 AM
awesome
so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though
so S5 will do like $45/month, just so i have a comparison, the s7 would do what?
i know it's like 4-5 times the price used atleast , i'm curious what difference in production is though
March 07, 2016, 02:30:09 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
visit this https://bitcointalk.org/index.php?board=75.0 March 07, 2016, 02:29:18 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
Yes, it's pretty easy to buy them second hand.. If i'm correct, the S5 is pretty stable, and since the diff rose and the halving is coming near, a lot of people get rid of perfectly fine S5's because they will not make any more profit with their current electricity rate.
The release date of the S5 was december 2014 (i just googled it, and used the first date i found, might need to be double-checked). You cannot buy new ones from bitmain, so if anybody sells you a new S5, it's because they had it in stock for months and months... You're probably better of buying a cheap second hand unit anyways...
IF you're going to buy a new one, consider an S7 or an avalon6, if you have a really good electricity rate, you might even break even in the long run with those machines.
March 07, 2016, 02:25:13 AM
when you say prices are cheaper on this forum, do you mean i would buy them used from people?
March 07, 2016, 02:22:14 AM
thanks guys
so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G
so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?
also is this all i need? should i get anything along with this machine like fan etc...?
so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G
so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?
also is this all i need? should i get anything along with this machine like fan etc...?
I think $239 is quite steep for an S5. I'm pretty sure they'll be cheaper here on this forum...
Regarding the $50, please use the link i gave in my previous post: http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1155&p=1300.00&pc=0.00&pf=0.01&d=158427203767.39200000&r=25.00000000&er=414.08230000&hc=0.00
At current diff, with current block reward and with current BTC price, it'll make you about $45 on average (not including power costs or initial cost to purchase).
Since the diff might rise, the blocks will halve and the price fluctuates, you might need 2 S5's just to be sure.
If you want an other option, use the link i gave in my previous post to compare this with other hardware.
March 07, 2016, 02:16:01 AM
thanks guys
so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G
so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?
also is this all i need? should i get anything along with this machine like fan etc...?
so http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G
so does everyone pretty much say i could expect to make around $50 in USD's worth of bitcoins?
electricity is what it is, i'll assume it will be a loss, but just in terms of what it can generate conservativeliy what do you guys think?
also is this all i need? should i get anything along with this machine like fan etc...?
March 07, 2016, 02:04:56 AM
Here is the most complete list of ASIC's i could find:
https://en.bitcoin.it/wiki/Mining_hardware_comparison
EDIT: i see avalon6 isnt't on this list, you can search for these ones seperately
Plug in the numbers here:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
Look for HW on this forum (if you cannot find anything, start a [WTB] post, state your approximate location, budget and the kind of hardware you're intersted in. Use an escrow to keep yourself safe.
If you cannot find anything on this forum, try ebay, or aliexpress (but expect to pay a lot more than the HW is actually worth). You can also use google to find a sale website, but check this forum for bad (or good) reviews, so you won't get scammed to easily.
https://en.bitcoin.it/wiki/Mining_hardware_comparison
EDIT: i see avalon6 isnt't on this list, you can search for these ones seperately
Plug in the numbers here:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
Look for HW on this forum (if you cannot find anything, start a [WTB] post, state your approximate location, budget and the kind of hardware you're intersted in. Use an escrow to keep yourself safe.
If you cannot find anything on this forum, try ebay, or aliexpress (but expect to pay a lot more than the HW is actually worth). You can also use google to find a sale website, but check this forum for bad (or good) reviews, so you won't get scammed to easily.
March 07, 2016, 02:01:36 AM
great!
where is best place to buy this from? any recommendations?
where is best place to buy this from? any recommendations?
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