Cryptocurrency Mining

F1 Fan said:
Interesting....you are generally willing to take risks. So if you not, then the rest of us should be thinking twice.

It does seem high risk, high reward.
Click to expand...
Thing for me with asic (and I might be wrong here) is that the profitability window is k@k short since your competing with Chinese factories. Who replace their miners regularly.

I've seen the videos of their farms, I cannot image that you as a person can make your money back on that thing competing with China and when it is less profitable you can't sell it, because it has no purpose whereas the GPUs you can sell to gamers pretty easily.

Also these people buying 1050s, just a silly example, how do they expect to be profitable in the coming months if you buy 6 1050s today you are competing with my 600 1070s surely the 1070s will make the difficulty too much for the other lower end devices to cope with.

Hence my strategy is to sell these cards by December and then replace all with 2070s.
 
Last edited:
Still want to see a pic of your 600 1070s ^^

Few months back you said you wish you'd had cash for a MacBook, wonder where your funds came from to sponsor 600 1070s. I'll use a very moderate amount here, but 600 1070s are 4 mill, that's excluding the rest of your hardware.

Pics or it never happened
 
Thor187 said:
Thing for me with asic (and I might be wrong here) is that the profitability window is k@k short since your competing with Chinese factories. Who replace their miners regularly.

I've seen the videos of their farms, I cannot image that you as a person can make your money back on that thing competing with China and when it is less profitable you can't sell it, because it has no purpose whereas the GPUs you can sell to gamers pretty easily.

Also these people buying 1050s, just a silly example, how do they expect to be profitable in the coming months if you buy 6 1050s today you are competing with my 600 1070s surely the 1070s will make the difficulty too much for the other lower end devices to cope with.

Hence my strategy is to sell these cards by December and then replace all with 2070s.
Click to expand...

I hear you. My only comment is that you only really need that miner to maintain that return for 3 months for it to make complete sense. If you were one of the lucky few that purchased it in July, you would be coining it now. Also, I would assume any new releases would probably only happen atleast 3months later.

So the only question is, does the profitability remain constant if farms that increasing their capacity? It would if the price of bitcoin and difficulty increases together. If just the difficulty increases, then you suffer, but then so would the farms.

Disclaimer: I've only started researching this 4 days ago, I could be completely wrong.

3lOH55A said:
Still want to see a pic of your 600 1070s ^^

Few months back you said you wish you'd had cash for a MacBook, wonder where your funds came from to sponsor 600 1070s. I'll use a very moderate amount here, but 600 1070s are 4 mill, that's excluding the rest of your hardware.

Pics or it never happened
Click to expand...

I don't think he meant that literally...
 
Thor187 said:
Thing for me with asic (and I might be wrong here) is that the profitability window is k@k short since your competing with Chinese factories. Who replace their miners regularly.

I've seen the videos of their farms, I cannot image that you as a person can make your money back on that thing competing with China and when it is less profitable you can't sell it, because it has no purpose whereas the GPUs you can sell to gamers pretty easily.

Also these people buying 1050s, just a silly example, how do they expect to be profitable in the coming months if you buy 6 1050s today you are competing with my 600 1070s surely the 1070s will make the difficulty too much for the other lower end devices to cope with.

Hence my strategy is to sell these cards by December and then replace all with 2070s.
Click to expand...

Let's do the math...
My Antminer purchase including PSU and shipping cost R41000 for two, let's say R21500 each. What did your 1070 rig cost all in?
Estimated monthly income is $1189 after electricity costs (let's say R15357).
Unit will be paid off in 1.4 months. Beyond that it's making R15357 a month profit at current rates.
Now what we can't do is estimate how many months it has left to be making profit, but let's just assume for another 6 months after ROI it can make profit... that's 6x R15357 = R92142. There will likely be new ASICs on the market soon too.

Now how long does a 6x1070 rig take to 1) ROI 2) achieve R92k in profits?

Where the 6x GPU rig has major advantages is in:
1) Warranty - if one GPU is faulty, only need to ship that one back - the rest can continue working. GPU is under 1-3 year warranty while Antminers only carry 3 months warranty (I don't even know what that's worth in reality). Much higher risk on the Antminer purchase.
2) Upgrades are easy and quality of hardware is better.
 
Last edited:
Sabre Wulf said:
Let's do the math...
My Antminer purchase including PSU and shipping cost R41000 for two, let's say R21500 each. What did your 1070 rig cost all in?
Estimated monthly income is $1189 after electricity costs (let's say R15357).
Unit will be paid off in 1.4 months. Beyond that it's making R15357 a month profit at current rates.
Now what we can't do is estimate how many months it has left to be making profit, but let's just assume for another 6 months after ROI it can make profit... that's 6x R15357 = R92142. There will likely be new ASICs on the market soon too.

Now how long does a 6x1070 rig take to 1) ROI 2) achieve R92k in profits?

Where the 6x GPU rig has major advantages is in:
1) Warranty - if one GPU is faulty, only need to ship that one back - the rest can continue working. GPU is under 1-3 year warranty while Antminers only carry 3 months warranty (I don't even know what that's worth in reality). Much higher risk on the Antminer purchase.
2) Upgrades are easy and quality of hardware is better.
Click to expand...

How did you manage to purchase 2 for 42k? Does that exclude customs?

Also, the antminer has a 180day warranty? But shipping it to and fro will be a massive problem.
 
This whole things is high risk so really all about your risk appetite. I've also gone with the GPU option knowing the ROI is probably 5-6 months (at current rates). If it all tanks before then hopefully I can break even selling the hardware or point it to the new up and coming coin.
 
The cost of clumsiness

Just fried a galax 1050, my PC case is open for extra ventilation and the rear has an open gap where all usb ports, network point etc. are. I unplugged the small usb wireless dongle (for mouse/keyboard) from my laptop and tried to plug it into the PC, somehow I let it fall into the (turned on) PC and it fell on the 1050, shorting two points. I had it for less than a month, R1850 down the drain :(
 
etienne_marais said:
The cost of clumsiness

Just fried a galax 1050, my PC case is open for extra ventilation and the rear has an open gap where all usb ports, network point etc. are. I unplugged the small usb wireless dongle (for mouse/keyboard) from my laptop and tried to plug it into the PC, somehow I let it fall into the (turned on) PC and it fell on the 1050, shorting two points. I had it for less than a month, R1850 down the drain :(
Click to expand...

Ah no man!!!!! Obviously time for that 1080 ti ;-)
 
What rates are you guys running RX480s getting with Daggerhash? I'm sitting on around 24 MH/s? That reasonable?
 
dj2381 said:
https://www.amazon.com/EVGA-GeForce...efinements=p_n_shipping_option-bin:3242350011

:love: about R12K

Edit: oops it's ZAR 11,556.94 exactly, pretty good price considering what they cost here.
Click to expand...

48KT84r.png
:rolleyes:
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X