Topic: Should I Buy used or new miners? - page 2. (Read 4337 times)

For home miner, if the electricity price is less than 0.05/kwh, it is profitable to mine even after the halving.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

Mining is bad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Please do not buy any miners unless you are going to design a mining farms (Cost lots a mount of money).
Try to buy ,trade BTC for ALT. Thanks

The scrypt ASIC miners are manufactured by 1 or 2 producers. Most of miners are used by themselves. I used to mine, but not any more.

Thanks for all the replies and sharing of knowledge.

I suppose that we will be going for antminer S7 as we feel that it would be better off buying new machines.

Just another note : We had an discussion whether to mine BTC or LTC, and we decided to go for BTC as we did not have the confidence in LTC.

Would love to hear comments from you guys.

EDIT: If we are not mistaken, scrypt miners are not readily available, as most of the companies are hoarding them for own usage. Is that right?

I agree...he is better off getting coin imho...BUT the combo of 1) finding cheap ass Titan (I know unicorn hunting) or 2) having cheap ass electric or 3) the fact it will do LTC at
a profit due to the two factors above ..and 'supposedly' you would not get trampled as bad with the difficulty wave coming on to btc ..as a home btc miner now

that above is guite a line up to work as a home miner ..hell I'm just trying to find a cheap ass Titan CUBE but when they go for 800 bucks on ebay plus shipping that sure don't work
and my stuff has ROI'd plus so a full Titan would be quite the bag of the unicorn...at a price that would roi with electric and the purchase price ...indeed!

but yes your point is taken on the equip not yet available to customers in scrypt....but to tell you the truth this looks a lot like march 2015 when all them scrypt miners were
supposed to come out and LTC price and other scrypt dumped and it was all cancelled..(to my 2nd cheap titan ...figured i had till july 2015 to make LTC then doorstop)..the stuff I've seen they are trying to get IPO $$$ NOW for to build (innosilicoin and alcheminer ii) are about 512mh and 1150 watts....so imho price of LTC or ratio of LTC to BTC has to change considerably or they will just sit on hands and wait imho to release such..the price could yet starve off another run of scrypts....depending on scrypt data halls on the above..if they did release this equipment at these speeds a 350mh titan at 1250 watts would still be in the running imho ...assuming you 'had' one or/managed to trip over the unicorn scenario above and get one

So at 4.50 to 5 buck prices for LTC I bet we would see movement on such scrypt miners...at 3-4.50 er not so much..they will wait....also wait due to the fact at these prices would
be hard to get the IPO bucks they want first to fund this 2nd round of equip to private data halls ourside of their own...also a consideration imho

so my bet "as of this week..could change rapidly" they have thrown up their hands and put everything on hold ..due to btc and ltc prices dumping with all the FUD

at best a month behind at worse ...well hell ....could still be just Titans out there at the top end ..thou doubtful

Short term is not the greatest look at last 48 hours, the last 24 especially.  It is hurting on a lot of people compared to where we were at.   It is a decent loss if they bought in hen you post was compared to now.

Long term I agree it chances are will be better.  But short term is going to hurt miners as difficulty rises and price drops.  Not a fun mining environment.

Even though most people know this, they will keep on buying the miners in the hope that the bitcoin price will rise. It is better to buy bitcoin directly.

Short or long term,  I can't see both as a good investment.

Most miners are way overprices (this includes the miners from our beloved Bitmaintech).

Bitmain price their miners just enough to think you have a chance to get ROI and if you are patient you will. But it will be in no scale towards the time you've spend.
It's a smart game they are playing, luckily most people see through it/them.

Titans though I don't see as a good long term investment.  We know they are not the newest chip, just likely newest currently available to customers.

There are at least 2 batches of SFards out there mining for a private mine on Scrypt.  So you will compete with that.  Also the Titan and cube design has had a lot of people have problems it seems

yeah if your elec rate works that is great...for me at 13.7c kwh and 0.0927c kwh (lower elec in winter) well ..(again you should just buy crypto ltc or btc)

BUT

if you really want to mine..used is only way to go imho and scrypt miner.....a BTC miner with my above costs would not fly ..even if I was crazy enough to

get a used Titan Scrypt unit (again priced too high)

but yeah if I lived in Oregon USA where some have 3 or 4c kwh elec...I'd be all over Ebay buying Titans and NEW equip

People have 'offered' to buy mine from those places often

but electric is king ..then again new equip ONLY has a 90 day warranty...so I'd fully agree with a 1 year warranty...90 days ...er not as big a deal used imho

(assuming whatever has run well the last 90 days)

buy an old hardware don't make sense...

you wil have to invest in more electricity... and we're all worried about electricity...

so, buy a new model, like S7, it needs not so much electricity than 2 old miners with 1/4 less hash rate.

s7 is very cool.. you must test.

 

It's not 100 percent either way there are so many individual variables.  You can't say all will lose or win on ROI.  A lot has to do with electricity price.  Some have very very low electricity which makes them still possible to ROI.   And some sell at right time of miner and ROI.

But it is true it's getting harder and harder to ROI.  No longer is a 3 month guaranteed ROI.

The only game to get BTC now mining is get a KNC Titan *used* cheap..that is very very hard to do..they are overpriced imho on ebay etc....BUT should you be lucky in some
manner I'm making on 0.0927c (reduced winter rate elec from 13.7c kwh) electric about $484 usd after electric a month at 645mh for both..so that would be like 322.50 for a Titan

the key here is a CHEAP enough Titan or one of the 'lucky few' with cheap ass electric (like 0.03c kwh) at a real LOW electric rate YOU might be able to overpay for a Titan
and it all works out...(with btc halving and ltc traditionally following along) but with such an optimistic future for btc or ltc rise you'd be better off just buying ltc or btc imho

(not so say you should not keep your eye out....but unlikely)

as to why scrypt miner.....well using this calc

www.litecoinpool.org

It is all about the difficulty vs reward

BTC with all the large data halls and equip coming out...a home miner would be blown out of the water imho

So ....IF you could find a cheap enough Titan say....and IF you electric rates are really low like in Oregon USA......and IF you want to gamble the halving will raise prices

and hell probably IF you want to heat your house this winter (really I'm killing on gas heat savings) PERHAPS you may have a shot

but lots of dominoes in a row to fall the right way..probably better to do my new type of home mining for crypto

Attic Mining

You go to attic ...sell a bunch of crap (boring as hell....groan ..in my case probably have 5k of junk) on Ebay...buy BTC and LTC

then you have an empty attic (yea!) you know fix it up (in my case about 2k) into REC ROOM ......increase value of house by say 15k (big ass attic..somewhat finished)

but damn boring let me tell you

anyway imho where folk are at now ....

oh one other thought....you have a cubicle at work and your feet get cold...you could use the asic there to heat your toes in the cubicle..I've heard of that done on the
threads.......

The difficulty rises to fast. The most recent rise is 9.12%. That is equivalent 68P hash rise, or 14,600 S7. The next rise is expetected to be 10%. So if you do not have cheap electricity, do not mine.

Either way you will lose money.
Therefore my advice would be to buy a miner for a hobby. Play with it and enjoy yourself.

The more money spend on your miner, the more money is being wasted..

I don't think we have a good estimate on this.  There is a thread and some who have had it.  But we really have no idea on  percent with B8 failures as we don't know how many units worked fine.   

I got a B8 for fun to see what was changed.  It's still working fine no issues.  But a downtime you are right is a big issue with difficulty jumping so much.

just look around with b8 failure rates.

heh shiny miner yeah ?

there goes your $$$ & downtime.

those lucky gets replacements fairly quick, some i think over 3-4 weeks no response ?

all i can say GL.