Topic: What is a good setup with an investment of $5000 - cheap electricity- (Read 2388 times)

 You won't. NOBODY LEGITIMATE makes a machine with those specs.
 Closest would be the Spondoolies SP50, but it's nowhere near that efficient - and even the CLAIMED efficiency out of KnC's "Solar" and BitFury's next gen chips aren't THAT good.

Don't buy it. It will be a scam! For that price, watts and GH/s.
What site did you find it on?
I know miningslab had a similar product to that, and they are a scam. 50TH is just under half of antpool's THs, which makes up around 1/6 of all mining evenue with Bitcoins!

"If it sounds too good to be true, it probably is"

If it was, 5THs for that price then it would seem more legit but overpriced.

I am really new to all of this , and I noticed you said you were new as well but, that does seem to good to be true , specially the Wattage . If it is true and I got my suspicions it is not . Enjoy the 1 Million Club!

But if you are new dont you think you should be aware of your own ROI and calcualting it yourself before asking a community ? Im not trying to sound harsh or a knobhead , Just as I have stated I am new and I am taking things with caution because we are in a culture where people take full advantage of our lack of knowledge on tech. Just do some research.

Also if I was the one who was making/selling  50TH/s at 2200w I think I would rather keep it, mine it , make my money and, sell it in the future when it has become difficult to mine with that hardware .

50T for 7k hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm


yup its a scam.  Unless its a pre-order, at which point you get the machine in 8 months, and then bitcoin has halved and the diff is way up and you got scammed too

You were given good advice.  What model miner and brand is it?  There have some "scam" miner companies that have high T miners.... they just never make them.  I just don't know of a machine that is 50T for 7k.... sounds to good to be true.  Also if your saying 50T for 2.2k watts that is not currently possible with any miner.

The reason on why can it be a lie is sadly some are willing to do anything for your money.  So I suggest telling us more about the miner.

Also with electricity price and I'm guessing vat I'm not sure you are in a location good for mining to be quite honest.  A hosting center might be much cheaper.

Thanks for your answer. But, Why can be lie?

What machine is that? Sound like a scam as its nothing standard, also the price way to low to match the hashrate and also the efficiency sound like a lie. You should double check your things and give more information and probably start your own thread.

But really. I'm 99.9% sure its a scam.

Me too need help. I'm brand new in mining.

 
I'm buyng a machine with 50TH/s 2200W complete and with OS to miner.
Someone can tell me is it so good to start?
My eletric energy has cost of €0,15 per kW/h.
The price of machine is $7.000, How many times I recover my investment?

Regards,

Tony

The cost here is lower and it account to about 20% of the BTC return. Also the efficiency @OC 393.75hz is the same, actually marginally better because you dont spin the fan any faster thus (1300-1155)0.8 = 116gh of income gained after paying for electricity. Great bonus.

Also China farm are also cheaper. So that would make it the majority and the price everyone need to compete at. The majority of farms either have cheaper than 0.5-0.07 or make their money out of ripping off people with crazy expensive hosting.

Regardless of your electricity cost you should run a S5 at 1.29TH/s because it does not change the efficiency. As long as its profitable to any extent, overclocking will make it better.

You can also feed downvolted current the S5 a little bit, or the v1.91 ones by a lot. When efficiency become critical or if you're somewhere you pay exorbitant electricity costs such as 0.1 to 0.15.

1300? isn't 1155, if you overclock it it will probably consume more, if the ratio is the same there is no need to oc

anyway 0.05 electricity it's the electricity of every big farm out there, those that have less are surely the minority, better do not take them as example

1300GH/s is 100$ and that means 3 months or so. Yes used, i'm not sure where you can get S5 brand new?

Also 0.05$/kWh is just one value, its not the cheapest available, but its a good cost to mine at. If you pay 0.05$ ROI should be 4months or a bit less. If it take longer, you probably overpaid.

With that cheap electricity it is worth to get those S7's.

wait, how is the s5 taking 3-4 if in one months you do $90 only, and with 0.05 electricity which is cheap enough, you pay already $21 so only 70 net in profit

1 s5 cost more than 300(350) this mean 5 months, used can be another story, but so is the case for s7

Firstly for a $5000 budget, I would suggest 2 S7s from bitmain. It is tricky to tell as you say that your power is less than $5, but I cannot tell what you mean, is this a fixed rate, is this for unlimited eletricity, what is the price per unit of power, I cannot help any further without this information, but the S7 is the most efficient miner avaliable to the public, if you want to get the most return from your investment then that is the best!

Indeed, i am using 5% increment at the moment, which is still scary. Hard to believe that 40 PH/s suddenly went online, i don't thing it could come from S7's or SP50 so soon or similar. There were those 1PH/s cargo container being shown around last month. Maybe a "batch" of those made it online?

It really make the ROI of S7's bleak if it continue this way.

I don't think 10% is sustainable, but its still scary to see it, even if its just once.

I would look at difficulty change recently aswell.  It's scary to see a possible 10 percent change in this day/age I thought we were past 10 jumps. But it's not looking good.

So when you do your ROI OP I would use some big numbers on possible ROI just to see what it will look like if it stay's bad.  I'm hoping this is just Avalon and Bitmain and will end soon... but i'm afraid the competition with a little higher priced BTC will bring a lot more hash our way.

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

0.09 $ is pretty high, you need to consider all good and calculate again, keep in mind rising diff too.

That's actually pretty expensive, 0.04$/kWh in East Canada (also free cooling 8 months a year), would get better profitability hosting hardware in a datacenter than pay 0.09+ per kWh. Just a thought.

Its hard to say what will be profitable right now, we're looking at a huge difficulty jump this round, if that keep up, not much will remain profitable at 0.1~ for very long.

yeah 0.09 per kwh would be a reasonable rate, not really low, but average.  Dont forget you can sell your miners after a while, so factor that in your ROI.

S5 ROI's are better considering S7 prices in dollar terms but let's not forget we have a block halving process 8 months later. Miner companies either decrease their prices or wouldn't find any buyers for these equipments that can't even make ROI. I think investing in Bitcoin itself is more profitable right now (in 8 month plan).

Thanks man. but im still trying to figure out if i got the math right on Cost per KWH.

My usage is 1432 and my bill was 127.88

so  127.88/1432=.0893   so thats my KWH right?

and if so is that still decent to make a reasonable profit monthly?

i think i figured it out. And its not as cheap as i thought. It is .0943   Does that seem right?

i can tell you i had 31 days on cycle
1243 usage
AVG 40 per day
cost per day is 4.19

What is the formula. my bill just shows me usage per day. cost per day. usage per 30 days. cost per 30 days.

Per kW per month? Then tons of S3 could be the best but a lot of management. S5's are a great middle ground. If its per day, then nope. Typically we do per kWh math so maybe you can specify the rate.

with 5k you can buy almost 3 S7 or 50 s3 or 15 s5

aside from free electricity i would go with the s7, to maximize the roi time

there is also another version of s7 with 4 tera and 1k wattage, it has the same efficiency

Before any advice is given you need to clarify the all important electricity price? Do you mean $0.043 to $0.048 /KWh or something else?


Rich

I am not new to Bitcoin. I have a healthy knowledge of Bitcoin as a whole. I even dabbled in altcoin mining with some GPU's. So i have a general conception on Bitcoin mining. But i get many different points of views as to mining on a small scale. So I just wanted to post the question of my situation and see if maybe your reply's will have some consistent answers. Reading the forums for a few years now i see that some smart and experienced people could have some guidance to point me in the right direction.

I currently live where my power is around $4.30 to $4.80. I have an investment capital of around $5000 that was a no interest loan from my folks that i will be making very small monthly payments on. So ROI is tricky to factor in. And to be honest I'm looking at it as free money as the payments are so small and hell there my folks. They might one day say nothing more is owed. So ROI is not an issue.

What i am asking for is opinions on what is the best coarse of action to get me up and running with a solid operation and maybe getting ahead of the curve a little as far as hardware. Not wanting to leap forward to fall back with equipment that will become obsolete as soon as i plug it in. Or if going many but smaller less powerful is the way to go.

My goal is to keep expanding as when i am operational i can keep up with the movement of technology. Its just making the right decisions at the beginning is imperative to my success. Any thought would be welcome and thank you in advance for your time.