Quote from: XScrypt on June 14, 2014, 03:05:52 PM

Quote from: ChuckBuck on June 12, 2014, 04:32:34 PM

For example I purchased my first Antminer S1 through Sushi's group buy in early February for 1.45BTC

I set it up and overclocked it to 200 GH/s and started mining on February 12th.

Using http://retrocalc.net/ I see I've roughly made 0.8 off that 1 Antminer S1(2.24 Total BTC mined).

I don't think making nearly $500 off of one miner(out of several I bought) is just barely making ROI, do you? Another factor is I luckily have free electricity, so helps a great deal.

Now I've sold most of my Ants, but I've held onto Antminer #1, as that little guy is proof that you can ROI in this difficult environment. He'll always have a place in my BTC heart.... Cry

You didn't make $500. If you sold right now you'd make about half that due to the drop in price since February. You don't make a profit or a loss until you sell. Until then, it's imaginary.

It's not imaginary. I've made over 0.81 BTC with the single Antminer S1 I'm still running. Put in February 12 to June 14 and 200 GH/s:

http://retrocalc.net/

Forget the fiat for a second, I've made 0.81 profit from my 1.45BTC invest. So 0.81 is pure up coins. So 0.81 x current exchange rate = $456 or so since BTC price dipped a little.

I always use coins to buy miners, so don't factor the exchange price then and now. Coins in, coins out.

Hope that makes sense to you now.

Chuck