Ninjastic
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Board Hardware
Re: ANTMINER S3 Discussion and Support Thread.
by
id10tothe9
on 30/07/2014, 15:57:47 UTC
Quote from: Stinky_Pete on July 30, 2014, 03:04:42 PM
Quote from: id10tothe9 on July 30, 2014, 02:20:42 PM
Quote from: jpchrist on July 30, 2014, 02:03:47 PM
Quote from: id10tothe9 on July 30, 2014, 11:32:07 AM
since there are so many miners here and I want to buy ANTMINER S3 I'll post my question here. Is there a chart of multipool mining profitability in fiat over a long period of time (6-12months)? If not maybe you can tell me from your experience..

I want to know whether the current $1.6/100GH/day is somewhat stable and can be expected to stay that way the coming 6 months.
(I'm a newbie regarding mining, so with this miner I can use it for multipools right? Grin)

I'd take some serious time learning more about bitcoin before you invest a cent. The difficulty changes after every 2016 blocks.  Here is a list of the historical increases.

https://bitcoinwisdom.com/bitcoin/difficulty

In the last 6 months it has gone from ~3 million to ~19 million. SO NO WAY you will be making anything close to $1.6/100GH/day in 6 months.

thanks! I know about bitcoin difficulty and got burned already Grin
I'm asking about the other coins since multipools mine the most profitable, which ever coin it happens to be. But there is no "profitability" chart of multipools over such a period of time.
I have been mining at multipool.us for several months. I haven't kept detailed records but can tell you that it now spends >95% of the time mining bitcoin directly, not any of the other coins. The way the pool works ensures that any of the more profitable coins will be mined until they are approximately the same profitability as bitcoin, so it effectively destroys its own market. I imagine the other multipools will have roughly the same effect.

The only way to beat the multipools is to mine newer coins before they get added to the pools, which is a bit of a gamble and isn't a set-and-forget option which I think is what you are looking for.

ok thanks a lot to all of you guys, this answers my questions Smiley
I guess I'll wait a few more months till I have more time to pay attention and mine new coins and also where the difficulty starts to saturate more with ASICs reaching their limits then I can expect a slower profitability decline. when I was into mining a year and a bit ago, my calculations were also a 3 months ROI (for btc only) but a few months delay and btc skyrocketing right after and all my investments got burned. and it seems nothing has changed since and all the alts are keeping the same pace of 3 months ROI, unless of course I find the undervalued ones and mine those, but I'll need more free time on my hands.