Topic: starting a small farm, should I get s5? (Read 2311 times)

Cointerra has a 404 TH for sale

That s not enough of money for home mining. More importantly, you cannot replace or upgrade your gear so easily so I would either go cloud or simply buy BTC.

My advise which is not risk free.

buy $20000 worth of bitcoins, then wait a few months until Spondoolies releases their next generation of miners which may ROI, when that happens use bitcoinwisdom calculator to se if the miners can ROI.

Risks:
Spondoolies may not have a next release, but most likely they will.
Another risk is btc would go down, must most likely it will go up.

Current mining equipment is guaranteed  not to ROI, unless you have free electricity and even then it will take a long time to ROI, hardware vendors want to make a good profit knowingly that at current prices their is no ROI.

Current speculations are that 14 or 16 nm tech is around the corner maybe within a few months so waiting for spondoolies is a good gamble.,

And my final advice even if spondoolies releases good hardware at good prices avoid by all means preorders, preorders  most of the time are failures for the buyers.


In the used market there are lots of risks, not long ago I saw someone selling very cheap s3 on craigslist, I sent him a reply to let hiim/her know I was interested in the miners, he said we could not meet at his mine, I said fine, then at your home, he said  lets meet on the street, I said fine but will need to test the miners, then he said they had all sold out,  a few minutes later I see the same add posted again. so if he sold out, why does he advertize them again.. most likely he was selling junk that did not work.
So when buying used miners always have them tested.
 

you can do 10k for mining HW and 10k for cloud(plus trading hash power), or straight into bitcoin

if you have very cheap electricity you could try all-in in mining equipment, but it's risky right now

What do you think ROI stands for?  You would do return on investment right now?

Often the best time to buy, is when everyone else is selling, with this in mind, buying used mining units could be a good idea at the moment.
That said, at 10c per KWH, you shouldn't be mining and especially not setting up a farm.  You can't compete with those who get free or near free electricity, and as there are apparently lots of those people who are happy with razor thin profit margins, you are not in the right game at 10c/kwh..

It is sad as I love mining.  But I have to admit I would do ROI right now.  At 250 it might be a good time for a lot just to buy BTC straight.

Mining takes low electricity and will be a little longer game with drops in price like today losing around 30 dollars each bitcoin.

It may be cheaper for you to just buy some bitcoins straight with the money and take your chances of the price going up. The S5 however is a pretty good option for a miner.

yeah over 10 cents is hard to turn a profit.

ouch, best of luck to you trying to earn your money back with those electricity rates.

My power cost is just over 10 cents/KW so I have just bought S5 GH and PACMiC on the Hashnest exchange. Waiting for S6.

Bitcoin News Magazine

Depends on your electric cost what to get or to stay out some better equipment comes out.

Lol

A couple things are happening now, customers are very skeptical of pre-orders, and you will likely see considerably less of them in the future due to many people having been taken advantage of by manufacturers.  Also, with the secrecy in the industry, many times you won't hear about a product until it's ready to hit the market.  Lastly, many of the companies have gone out of business after the decline in price this past year, there are only really Bitmaintech and SP-Tech left for big dogs in retail.  Bitmain is not in a rush to release a new gen, when they still have the current market cornered w/ the S5, and SP-Tech has claimed they will likely not be catering to smaller home miners, but instead aiming for larger >10kW miners for data centers.


I feel quite the opposite about this, when you buy the SP3x, or the S2/S4's, you are paying full retail price for a new off-the-shelf PSU, whether it's ATX (like in the S2) or a server supply.  With the S3's, S5's, SP20's, you are free to find cost savings yourself.  [Shameless Plug] I am helping sell some IBM 2880W server PSU breakout boards in Canada/US, and the total price per kW of 80+ platinum efficient power is less than $60.  You can comfortably source used PSU's, because the suckers just don't die and are cheap to replace.  Just browse the Antminer S4 thread with people looking for replacement PSU's for the ones they already paid for, because Bitmain has a tendency to cheap out on their PSU's, even though the customer is paying a premium to have it in the purchased miner.

Sidehack also produces many good quality boards for server PSU's including the DPS-2000BB and others, that are all very cost-effective compared to the additional price from manufacturers.  Aside from the convenience/tidiness of having a PSU built in, I just don't see the advantage in $/GH.

We don't know when exactly it will be available. Even Bitmain can't say exactly. So...

What about this item: http://ru.aliexpress.com/item/Spot-goods-AntMiner-S5-1155-GH-s-Asic-Miner-Bitcon-Miner-28nm-BTC-Mining-Power-Consumption/32300222822.html 

Before you do anything at all please tell us your power cost.  If you are more then 10 cents a Kwatt buy coins.  if you are 8 to 10 cents buy a few s-5s not a lot.

If you power cost is under 5 cents you have many options consider buying used s-3's

thanks for the replays.

I have a couple of used ones...
5x S4
1x sp31
bunch of s3+

I like the spondoolies alot, but they are to expansive for the TH they deliver.

I want the best hash/watt that I can get and currently the s5 is the best. I have search and serch but cant see any company announcing a new chip... normally they would get pre order for 4-5 months before release and the fact that there isnt any preorder news I assume that the next 5 months will be no new hardware....

Only downside about s5 is the extra powersupply cost.... spondoolies and S4 have a integrated one which save $$$

its a hard decision... the only one that have the units ready to ship is bitmain selling the S5.

decision...decision...decision...decision...

If you buy now, you run the risk to never ROI, the 28Nn process is becoming old news.

Wait for the new processes to come out sometime in 2015...

my suggestion:
5K into holding coin.
5k into mining gear on the used market. you can get an SP3x for <$1800USD
10k is kept aside for when a good opportunity comes along to get cheap hardware in the future

Wait. 20k is a lot of cash to invest right now.

You have a couple months then just wait....... something is bound to come up and it will be shiny.