Hi all,
I am playing on starting with a bitcoin project within the next few months. I am thinking about investing in buying 5 Antminer s9's to start off with mining bitcoins and to continue to grow untill 10 or 15 of them.
I've been doing some intense researching but the different experiences in mining bitcoins in 2017 just don't make sense to me.. So I am hoping to gain some wisdom from some of you!
1) is it lucrative to invest in 5 of these Antminer s9? (or maybe the newer model that might be released by that time)? I realise it will take a few months time, but according to most calculation sites it will take me around 4 months to draw break-even. Dont include the electricity costs etc.
2) Is it necessary to join a mining pool when you have 5 to 15 of these powerful miners yourself? Or is it impossible to do it yourself without the help of a pool?
Hope to hear from you guys soon! And thank you so much in advance.
solo mining is a game of chance,why would you spend so much money to risk not hitting a block in two years or more
when you can simply achieve ROI by joining a mining pool in a year (provided you do not have crazy electricity prices of over 10 cents)
is it lucrative or not you can calculate yourself using one of the numerous online calculators that factor in difficulty,equipment costs,electricity costs
and running expenses costs,usually people with 10 cents/kwh electricity hit roi in 9-10 months,with the growing bitcoin prices the time decreases
factor in possible s9 malfunctions and calculate yourself,after all it is your money and every business requres a business plan to be successful
generally ,yes it is profitable to mine still,besides if the price is to hit 10.000 you are going to ROI much much faster,then sell s9 and buy whatever will come out next faster and more efficient
Cool! Thanks for your reply! Don't worry about the electricty bill, how fast is it normally for a pool to hit a block?
