Help a noob start mining…
Hey guys, So clearly I'm a decade to late here in terms of low cost mining, but help me understand and make a decision: Mining Types: 1) CPU mining > obsolete 2) GPU mining > obsolete 3) FPGA mining > obsolete? 4) ASIC mining > profitable
Where I currently live, I'm looking at a cost of $0.09 kW/h So using something like an S7 that claims 7.3 TH/s with a power consumption of 1600w, I'm 'technically speaking', looking at: Profit per month $ 122.05 Mined/month Ƀ 0.05965 Power cost/Month $ 103.68
At a local cost of 2000$ for an S7 with controller locally, that means I'm looking at about 17months to pay the unit off before I start making profit.
Assuming all of the above is correct, here is my greatest fears: 1) Unit doesnt last that long / requires unforseen maintenance / replacement parts? and then my biggest fear: 2) As mentioned above, (1),(2) and (3) became obsolete pretty quickly, and I'm afraid that (4) will as well? Maybe not so much that ASIC processors wont be the way to go, but more that 7.3 TH/s wont be making me 122$ a few months from now but that it will only be able to push out half that or less?
Submitted August 12, 2017 at 10:14PM by SupaMonkeyZA
via reddit http://bit.ly/2vP7i1L