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Mining for bitcoin and other cryptos

  • Post #1
  • Quote
  • First Post: Dec 25, 2017 1:44pm Dec 25, 2017 1:44pm
....There is different kind of miners, I will show you my choice, you show me yours, I don't know much about this, so the idea is to learn with you out there that knows, .....this is what I think in my humble opinion an inexpensive miner, and I don't even know what is capable of, if someone is kind enough to tell me, what is his capability or can recommend others, be my guess, thanks in advance....merry Christmas and happy new year, may all the joy of Christmas be upon yourselves....

https://www.amazon.com/Antminer-S9-1...6HYCVXT6VGQ5CX
The Chonchy
http://www.bite.tech/sites/default/f...oin-mining.jpg
The Chonchy
https://www.bitcoinmining.com/images...r-s7-small.jpg


....lets start mining....
The Chonchy
https://encrypted-tbn0.gstatic.com/i...N1vQg2Xzor9H6g
The Chonchy
https://images-na.ssl-images-amazon....L._SL1020_.jpg

Bitmain Antminer S9 Bitcoin Miner, 0.098 J/GH Power Efficiency, 14TH/s

Bitcoin Mining Hash Rate: 14.0TH/s ±5%

  1. Power Consumption: 1372W ±10% (Power supply not included)
  2. Most Power Efficient Bitcoin Miner: 0.098 J/GH ±7%
  3. Built-in web management portal - No separate host computer or software required
  4. Power supply sold separately - AntMiner APW3++ power supply recommended if you have 220v+. EVGA SuperNova 1600 G2 recommended if you only have 110-120v power.

The Chonchy
how to connect....

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The Chonchy
.....cooling initiatives.....

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The Chonchy
...more cooling initiatives.....

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The Chonchy
  • Post #9
  • Quote
  • Edited at 3:12pm Dec 25, 2017 2:18pm | Edited at 3:12pm
I wonder .... if this is true or what?

https://www.thebitgoldmine.net/?subi...=0&t202id=1147
The Chonchy
  • Post #10
  • Quote
  • Edited at 3:12pm Dec 25, 2017 2:57pm | Edited at 3:12pm
...I wonder how much this guy makes a day....with that set up...


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The Chonchy
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The Chonchy
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The Chonchy
https://wholesalechina.store/collect...-bitcoin-miner

...I think this is a very good price, correct me if I'm wrong...thanks
The Chonchy
https://shop.bitmain.com/antminer_s9...?flag=overview

I think this are the manufacturers....
The Chonchy
In the end it all depends on the $ / kwH you pay. The cheaper, the better. But if you live in an area with high power prices, you'd have to mine 24/7 for a whole year just to amortize the cost of the ASIC miner, given BTC price keeps stable or keeps rising.

And don't fall for things like investing in Bitcoin Mines and expect a big payoff. There are several incentives like that and from what you can read across the internet they are all pretty much a rip-off and a ponzi.
Quoting mw108
In the end it all depends on the $ / kwH you pay. The cheaper, the better. But if you live in an area with high power prices, you'd have to mine 24/7 for a whole year just to amortize the cost of the ASIC miner, given BTC price keeps stable or keeps rising. And don't fall for things like investing in Bitcoin Mines and expect a big payoff. There are several incentives like that and from what you can read across the internet they are all pretty much a rip-off and a ponzi.
...I pay .12 cents for electricity in my area and I have solar panels that a friend gave me and a good transformer that convert 12 volts into 110 volts, the antminer S9 makes 8 thousand dollar a year and the cost is 1899, some how your math is wrong somewhere, but I appreciate your post anyways, thanks and happy new year mw108....
I think is a decent deal here....

https://wholesalechina.store/collect...-bitcoin-miner
The Chonchy
WOW a lot of money for start up...for a biz start years ago...imo :-)

Better to put 2000$ in forex, after all. Solid.
Quoting chonchy
{quote} ...I pay .12 cents for electricity in my area and I have solar panels that a friend gave me and a good transformer that convert 12 volts into 110 volts, the antminer S9 makes 8 thousand dollar a year and the cost is 1899, some how your math is wrong somewhere, but I appreciate your post anyways, thanks and happy new year mw108.... I think is a decent deal here.... https://wholesalechina.store/collect...-bitcoin-miner
$1899? On the site you linked the cost is $3000 with a PSU + shipping cost from China. So you most likely end up paying $3100. You also need to consider additional "unexpected" fees for cooling and other stuff. And there is always something unexpected or something breaks.

So in the first year you make $5000 in the best case. But you also need to consider the volatility and uncertainity of the BTC price. The last time BTC had such a massive price drop like on 22nd Dec it went into a downtrend for 2 years.

Risky investment in my opinion.
Quoting mw108
{quote} $1899? On the site you linked the cost is $3000 with a PSU + shipping cost from China. So you most likely end up paying $3100. You also need to consider additional "unexpected" fees for cooling and other stuff. And there is always something unexpected or something breaks. So in the first year you make $5000 in the best case. But you also need to consider the volatility and uncertainity of the BTC price. The last time BTC had such a massive price drop like on 22nd Dec it went into a downtrend for 2 years. Risky...
...Good enough, stay away from BTC, I got you...thanks...

....Other people that will like to invest in rigs, show them here please so I can learn to mine, thanks a lot....I love risky business, especially like the ones that go from 0 to 20 000 ....and if I can mine it.... even better.....

...The antminer in the link is $ 1899 plus 166 shipping to my house in Hialeah Florida, I pay .12 cents electricity and with some solar panels that a friend gave me I think is less than .09 cents, I know the freight because I already bought one and is on e-bay for $4999, if I sale it soon, I will buy two more to have one for sale and put the other one to mine, fair enough...
The Chonchy
This article seems like a viable alternative to purchasing and managing mining rigs... might be of some interest:

https://www.coindesk.com/information...bitcoin-guide/
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