Topic: Why everyone here suggests not to mine? Explain it! (Read 2280 times)
So when would S4 miners will be announced ?
I think the point is that you cannot order either the batch 8 or batch 9 units at this time. Yes, the officially listed price is 0.58BTC for the batch 8 units, and it's very likely the batch 9 units will be priced lower; however, since you can't actually order one, the price is kind of irrelevant. If you want an S3 right now, you're going to have to find a reseller, or a private sale - and those prices are going to be higher than what Bitmain lists.
The units linked to aren't shipping now either though and there's the chance you might not even receive anything from a "reseller". Buying overpriced miners from ebay and similar sites is just a bad idea.
I think the point is that you cannot order either the batch 8 or batch 9 units at this time. Yes, the officially listed price is 0.58BTC for the batch 8 units, and it's very likely the batch 9 units will be priced lower; however, since you can't actually order one, the price is kind of irrelevant. If you want an S3 right now, you're going to have to find a reseller, or a private sale - and those prices are going to be higher than what Bitmain lists.
The units linked to aren't shipping now either though and there's the chance you might not even receive anything from a "reseller". Buying overpriced miners from ebay and similar sites is just a bad idea.
I have tried with cloud mining but couldn't earn anything with it.
bitmain'S official site does not have them up for sale .
SO ONCE AGAIN SHOW ME A LINK FOR A NEW MINER AT 280.
SO ONCE AGAIN SHOW ME A LINK FOR A NEW MINER AT 280.
ANTMINER S3+ -B8
Speed: 453 GH/s
Price: 0.58 BTC
https://www.bitmaintech.com/productDetail.htm?pid=00020140813125800214NBU85kWt0672
0.58 BTC * 478 USD/BTC = 277.24 USD
That's how much batch 8 S3s officially cost and batch 9 S3s will likely cost less and start shipping in October.
bitmain'S official site does not have them up for sale .
SO ONCE AGAIN SHOW ME A LINK FOR A NEW MINER AT 280.
SO ONCE AGAIN SHOW ME A LINK FOR A NEW MINER AT 280.
ANTMINER S3+ -B8
Speed: 453 GH/s
Price: 0.58 BTC
https://www.bitmaintech.com/productDetail.htm?pid=00020140813125800214NBU85kWt0672
0.58 BTC * 478 USD/BTC = 277.24 USD
That's how much batch 8 S3s officially cost and batch 9 S3s will likely cost less and start shipping in October.
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
I seriously doubt it unless you find a complete moron. A brand new S3 and a brand new PSU would only cost you $320. I think you'd be lucky to get $200 for the S3s.
http://www.ebay.com/sch/i.html?_from=R40&_sacat=0&_mPrRngCbx=1&_udlo=275&_udhi=325&_nkw=antminer+s-3&rt=nc&LH_BIN=1
the lowest 4 on ebay range from 325 to 344
Like I said, you'd have to find a complete moron. They're only $270 USD directly from Bitmain's official site. The top ebay link costs $325 + $121.65 shipping, for 10th of October delivery.
bitmain'S official site does not have them up for sale .
SO ONCE AGAIN SHOW ME A LINK FOR A NEW MINER AT 280.
because it's a love hate relationship. you get a miner, and a week later you are paying more in electrical than it actually makes mining (perhaps i am fibbing with the 1 week part, but it feels like it). if you are not prepared to be active in modding, upgrading, tweaking your HW--home mining is not for you. that's part of the love/hate relationship with mining.
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
I seriously doubt it unless you find a complete moron. A brand new S3 and a brand new PSU would only cost you $320. I think you'd be lucky to get $200 for the S3s.
http://www.ebay.com/sch/i.html?_from=R40&_sacat=0&_mPrRngCbx=1&_udlo=275&_udhi=325&_nkw=antminer+s-3&rt=nc&LH_BIN=1
the lowest 4 on ebay range from 325 to 344
Like I said, you'd have to find a complete moron. They're only $270 USD directly from Bitmain's official site. The top ebay link costs $325 + $121.65 shipping, for 10th of October delivery.
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
I seriously doubt it unless you find a complete moron. A brand new S3 and a brand new PSU would only cost you $320. I think you'd be lucky to get $200 for the S3s.
http://www.ebay.com/sch/i.html?_from=R40&_sacat=0&_mPrRngCbx=1&_udlo=275&_udhi=325&_nkw=antminer+s-3&rt=nc&LH_BIN=1
the lowest 4 on ebay range from 325 to 344
batch 9 on bitmaintech is not open and has no price
https://www.bitmaintech.com/productDetail.htm?pid=000201409100729132701XzQIXcc06AB
So you are pretty off with your numbers
zoom hash 349 plus shipping
http://zoomhash.com/products/antminer-s3
show me a seller that sells an s-3 for 280 with no psu
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
I seriously doubt it unless you find a complete moron. A brand new S3 and a brand new PSU would only cost you $320. I think you'd be lucky to get $200 for the S3s.
Historically buying Bitcoins has always been more profitable than mining them (especially after the price has corrected from the top of a bubble)
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
Historically buying btc occasionally wins over buying gear and mining.
Take the batch 1 s-3's sold at 2 for 1.5 btc and if you purchased them you got a coupon or a refund. so the 1.5 btc was really only 1.35 btc
So the day I purchased mine I paid 1.35 btc after the adjustment you paid for 1.35 btc the same day. THAT DAY WAS JUNE 30
HERE IS THE SALE
https://blockchain.info/tx/fc58360c81e322871913b48ae1f4c897532129b5d0166c04fd9505733216a532
coins were 618 I paid 834 for the 2 machines.
a coin holder paid the same 834.usd for the 1.35 in coins well 1.35 coins are worth 648 usd so a coin holder put up 834 and now has 648 a loss of 186
me a machine buyer I mined 1.10 coins as of today 1.1 x current price of 480 is 528 dollars I have these in a very cheap power spot they have mined from July 23 up to now power for these is under 3 cents a kwatt that is around 50 cents a day or 25 bucks so far so take the 528 - 25 = 503 make it 500 .
834 - 500 = a loss of 334 but I have 2 working s-3's
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
even if I paid full price for these in power it would 125 not 25.
so I would be losing 434 today selling two of these for 300 each would still make profit. So for batch one buy s-3s was better then holding coins if :
A) power was under 15 cents
B) you had psu's on hand.
even if you purchased a psu for 100-120 you still would have made money on the batch 1 s-3s
I still don't understand why people always want to covert to USD.
You paid 1.35 and have earned 1.1. The price doesn't matter except for electricity, and in your post was $25 so about .05 BTCs. So we have 1.1-.05-.1.35 = loss of 0.3.
So so far you are in the hole 0.3 BTCs, but have 880 GHash of mining power. Which would have been the same regardless of BTC/USD price.
If I go your route and stay in coins the coin buyer holder is at 1.35 coins . I am at 1.05 coins after power so I have .3 less coins then the buy and hold guy. I also have 2 s-3's which I can sell today for 1 coin easy so I am at plus .7 btc and the buy and hold guy is at 0 btc up or down.
So in the case of the batch 1 the ants were a good deal much better then buy and hold. I would say 2 btc vs 1.35 btc staying completely in btc. and accounting for power spent.
My pair had very low power cost if it were normal NJ rates I would be at 1.8btc after power costs and sale of the 2 s-3s . While the buy and hold person is at 1.35 btc.
Historically buying Bitcoins has always been more profitable than mining them (especially after the price has corrected from the top of a bubble)
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
Historically buying btc occasionally wins over buying gear and mining.
Take the batch 1 s-3's sold at 2 for 1.5 btc and if you purchased them you got a coupon or a refund. so the 1.5 btc was really only 1.35 btc
So the day I purchased mine I paid 1.35 btc after the adjustment you paid for 1.35 btc the same day. THAT DAY WAS JUNE 30
HERE IS THE SALE
https://blockchain.info/tx/fc58360c81e322871913b48ae1f4c897532129b5d0166c04fd9505733216a532
coins were 618 I paid 834 for the 2 machines.
a coin holder paid the same 834.usd for the 1.35 in coins well 1.35 coins are worth 648 usd so a coin holder put up 834 and now has 648 a loss of 186
me a machine buyer I mined 1.10 coins as of today 1.1 x current price of 480 is 528 dollars I have these in a very cheap power spot they have mined from July 23 up to now power for these is under 3 cents a kwatt that is around 50 cents a day or 25 bucks so far so take the 528 - 25 = 503 make it 500 .
834 - 500 = a loss of 334 but I have 2 working s-3's
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
even if I paid full price for these in power it would 125 not 25.
so I would be losing 434 today selling two of these for 300 each would still make profit. So for batch one buy s-3s was better then holding coins if :
A) power was under 15 cents
B) you had psu's on hand.
even if you purchased a psu for 100-120 you still would have made money on the batch 1 s-3s
I still don't understand why people always want to covert to USD.
You paid 1.35 and have earned 1.1. The price doesn't matter except for electricity, and in your post was $25 so about .05 BTCs. So we have 1.1-.05-.1.35 = loss of 0.3.
So so far you are in the hole 0.3 BTCs, but have 880 GHash of mining power. Which would have been the same regardless of BTC/USD price.
Ok, you will say the difficulty and all, let's make that total BTCs in the first year is not 292, let's cut it down to 260 BTCs for the sake of difficulty.
Cute. I wish this were the case. That's about the change over 2 weeks. Over last year it would've been 292 ---> 2.92.
The greedy manufacturers are the reason mining is not peofitable for most. End of the sad story 
simple and solid advice
Historically buying Bitcoins has always been more profitable than mining them (especially after the price has corrected from the top of a bubble)
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
The batch 1 S3s got jipped a little with the decreased stats but they were rewarded with 2 consecutive minimal increases (as well as coupons or refunds). I got a couple days out of my S3 and then saw a 21% bump followed by a 15% bump on my S3 B6. Antminer didn't drop the price with B3-B6 to keep a linear cost compared to difficulty.
Historically buying Bitcoins has always been more profitable than mining them (especially after the price has corrected from the top of a bubble)
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
Historically buying btc occasionally wins over buying gear and mining.
Take the batch 1 s-3's sold at 2 for 1.5 btc and if you purchased them you got a coupon or a refund. so the 1.5 btc was really only 1.35 btc
So the day I purchased mine I paid 1.35 btc after the adjustment you paid for 1.35 btc the same day. THAT DAY WAS JUNE 30
HERE IS THE SALE
https://blockchain.info/tx/fc58360c81e322871913b48ae1f4c897532129b5d0166c04fd9505733216a532
coins were 618 I paid 834 for the 2 machines.
a coin holder paid the same 834.usd for the 1.35 in coins well 1.35 coins are worth 648 usd so a coin holder put up 834 and now has 648 a loss of 186
me a machine buyer I mined 1.10 coins as of today 1.1 x current price of 480 is 528 dollars I have these in a very cheap power spot they have mined from July 23 up to now power for these is under 3 cents a kwatt that is around 50 cents a day or 25 bucks so far so take the 528 - 25 = 503 make it 500 .
834 - 500 = a loss of 334 but I have 2 working s-3's
I did better with the 2 s-3s as selling 2 s-3s today for 300 each would be a breeze.
even if I paid full price for these in power it would 125 not 25.
so I would be losing 434 today selling two of these for 300 each would still make profit. So for batch one buy s-3s was better then holding coins if :
A) power was under 15 cents
B) you had psu's on hand.
even if you purchased a psu for 100-120 you still would have made money on the batch 1 s-3s
Historically buying Bitcoins has always been more profitable than mining them (especially after the price has corrected from the top of a bubble)
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
You could spend 1K on a miner now and watch the difficulty eat away at your profits, or you could buy 2 coins and sit on them.
if you spent that $1K on a miner do you think you would be able to mine more than 2 Bitcoins? If not, then simply buying the coins is the better option
Aha...
I get it now...so even with free electricity it's not possible to make any profit...
so why are all those huge farms mining still? how can they mine at loss?
I get it now...so even with free electricity it's not possible to make any profit...
so why are all those huge farms mining still? how can they mine at loss?
As noted above they are not mining at a loss. I don't think any company would mine at a loss unless their goal was to claim a loss for taxes by diverting income elsewhere.
If we as end user try to mine with their hardware we mine at a loss.
Bitmain can use it's own in house equipment, KNC can use its own in house equipment, Bitfury can use its own in house equipment. You can't out-gun your gun dealer since he is the one selling you the weapons
If you look at where the large pools are right now you will find over 50% of the network is controlled by the ASIC manufacturers - that's not good. Then again the people, including myself, who funded these companies are partially to blame. The conflict of interest on the company's side is the other fault. Jump to: