Turning off miners - page 7. | Bitcointalksearch.org

KaChingCoinDev

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Quote from: btckold24 on January 13, 2015, 01:24:43 AM

I went from having 4 miners 2.8 th - to zero - sold them off on ebay and need bitcoin to go back to $600 if I will to have made money off the deal as electricity and cost of the miners happened when btc was over 500$

Undecided

Same here, except with scrypt GPU's, when the asics came out.

siampumpkin

sr. member

Activity: 420

Merit: 260

Quote from: muvie on February 21, 2015, 10:53:49 PM

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.

For me I am already there. Mining is just an even exchanges of power for bitcoins or more often a loss. It is cheaper to just buy bitcoin with fiat.

muvie

sr. member

Activity: 476

Merit: 250

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.

mriulian

sr. member

Activity: 308

Merit: 250

The price is getting lower and lower. I had 300ghs on cex.io .. Last year i won a lot of bitcoin from mining with cex.io but now..cex is lost,mining with gpu by myself is useless..I'm going to alt coins

jwcastle

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Activity: 117

Merit: 10

Quote from: JackTackett on February 21, 2015, 04:19:56 AM

I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office

Jack

I turned off all my S1's in October 2014. And sold them all in November for almost what I paid for them. So in the end, I got my ROI plus a bit of pocket change. I would say it's a good experience on learning about Bitcoins and mining, but I won't be doing it again any time soon.

I still have two modded HP server power supplies that I don't know what to do with. They're only worth about $10 or so on Ebay.

JackTackett

newbie

Activity: 25

Merit: 0

I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office

Jack

Furio

legendary

Activity: 938

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Quote from: rfcdejong on February 20, 2015, 04:57:42 PM

My blizzards are sleeping since this being this year..

2 x 1.4 MH/s normal blizzard (batch 1!)
1 x 4.0 MH/s blizzard X6

They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin Sad

Mining never really was and will be profitable, it's decentralization what it's all about!

rfcdejong

hero member

Activity: 798

Merit: 500

My blizzards are sleeping since this being this year..

2 x 1.4 MH/s normal blizzard (batch 1!)
1 x 4.0 MH/s blizzard X6

They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin Sad

GingerAle

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Quote from: adaseb on February 19, 2015, 12:10:47 PM

Quote from: picolo on February 19, 2015, 11:47:41 AM

Quote from: SargeR33 on February 19, 2015, 06:15:02 AM

Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.

No you won't because you have to pay for the equipment.

could also run into the case where the landlord starts questioning the tripling of the power bill. I remember reading an article back in the day about a guy who had free electricity and setup some GPUs to take a crack at mining (yes, that far back in the day), and apparently he had a LED-fan blowing on them to keep it cool, and his landlord saw the LED from the street and investigated or something, and ultimately the lease was terminated due to "testing of equipment" or something.

so, free electricity, sure... but don't wanna upset the landlord!

adaseb

legendary

Activity: 3808

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Quote from: picolo on February 19, 2015, 11:47:41 AM

Quote from: SargeR33 on February 19, 2015, 06:15:02 AM

Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.

No you won't because you have to pay for the equipment.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: SargeR33 on February 19, 2015, 06:15:02 AM

Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.

SargeR33

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Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

MarkMJ

hero member

Activity: 714

Merit: 500

one for one and 1 2 3

Hello,

GPUs are good but only if you know how to use them,this is my opinion.

NoahWL1

full member

Activity: 173

Merit: 101

The only reason I'm keeping my miners on right now is because I don't have to worry about power and it's winter. If summer hits and Bitcoin's price hasn't skyrocketed, these things will become nothing but novelty toys packed away in my closet.

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: picolo on February 13, 2015, 05:02:48 AM

Quote from: Syke on January 13, 2015, 01:02:22 AM

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Did you turn them back on?

Yeah, I can justify them back on for a bit for some winter heating. This year-and-a-half price slump is getting annoying. I'm ready for the next moon trip.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Syke on January 13, 2015, 01:02:22 AM

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Did you turn them back on?

Furio

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Quote from: valkir on February 12, 2015, 10:23:31 PM

Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Time to buy real miner! S5 or SP20 or Avalon4 Grin

Yeah, like 10 of them Wink

I would have made an server room with 3 AC's, broem broem Grin

valkir

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Activity: 1484

Merit: 1004

Quote from: Kyle1836 on February 12, 2015, 06:42:09 PM

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Time to buy real miner! S5 or SP20 or Avalon4 Grin

Kyle1836

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Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

SFMiner

member

Activity: 170

Merit: 10

I just shut down some KNCMiners that have been profitable for the past 14 months, and actually managed a positive ROI on those I received in November 2013. All of my S2s and S3s ROI'd as well.

I sold all 20 of my S3s, and upgraded to 6 X S5s, which I plan to run in my apartment until they're insanely unprofitable (or until summer hits, and I can't justify them anymore). I'm not sure if they'll ever ROI, but if the hash rate continues its plateau, then there's a good chance of ROI (eventually).

They make great space heaters, and I definitely prefer large power bills when they're offset by BTC earnings vs. just paying for electrical heating. It would be amazing if they could last 2 winters.

I reinvested some of my profit into Umisoo-hosted miners, and I've also been testing out some cloud mining contracts for a few months now.

So although I'm reducing my overall at-home hash rate, I'm adding a bit of cloud mining to offset the reduction - assuming that all of the companies are actually mining, and aren't ponzi schemes like PBMining!

Topic: Turning off miners - page 7. (Read 36425 times)