what a complete trainwreck. geezus. considering s1's will be worthless in 3 months tops. it's time for an alternative. how about a 5Th for 6.5 btc. mmmmm hmmmmm
Yeah - I don't get where the ROI is coming from on some of these units. Given the difficulty level - and constant increases, the market price of BTC, the cost of the mining rigs - and the upcoming boning from the tax man, I just don't see it.
Must be that new math I've been hearing about.
There is not a single machine that would get your ROI unless you are playing the long term game. Price of BTC will go up to reflect that difficulty changes and cost of the miners. At the moment, BTC is going through some changes and government announcements having negative impact on the price.
Think this as an investment rather than regular monthly income.
Price of BTC could be $2,000 or $20 in the next 12 months.
Even you design your own asics and manufacturer your miners you will not make your money back unless you pre-mine and sell those miners few weeks / months later just like every other manufacturer.
That reasoning is a fallacy. A piece of hardware will generate a relatively finite amount of BTC in it's lifetime. As difficulty increases, the amount of BTC generated by a piece of hardware asymptotically approaches zero. Given the amount of BTC the hardware will generate and given the amount of fiat required to purchase said hardware, it usually makes more sense to buy and hold btc now if you assume that price of BTC will go up.
Exactly.
Once you add in all of those things you mentioned - AND , if you're in the US you're now going to have to factor in capital gains taxes - I don't see the math in it.
I don't see BTC mining as a "long term" game - if the hardware doesn't pay itself back in a relatively short period of time - what you're looking at is potentially an ever extending payout period.
Quite honestly I think one of the only ways the mining starts to make any sort of "sense" ( if you want to call it that) - is if you're some sort of IT guy who has access to a budget and a lab infrastructure - and can buy the machines on the company's dime, put them in the company's lab (where they pay for electricity and cooling) - and then direct the BTC output to your own wallet.
That way you basically have no upfront costs and you get all the profit - so it's spectacularly profitable FOR YOU. And if you're in one of those companies that brings in equipment by the pallet load and ships out old equipment by the pallet load - they're likely not even going to notice the miners showing up on the budget.
If you're stuck with all of the costs - I don't see the mining working.
As for this being off topic to this thread - I think it relates directly - because even though Bitmain is sending out one of the better products at a decent price (at least compared to others) - for the mining to "work" IMHO - their prices need to be less than half of where they are now.