Started my mining operation

Ill probably move over to monero or something right now ethereum is doing me well though Nanopool | Ethereum | Account

 

Yeah I looked at your link from this post, you have some serious hash power. I've considered buying more GPUs but I still worry about them becoming obsolete, or bringing in very low ROI.

 

Well the GPU's have a good resell value I mean unlike the ant miners. I guess people are just skeptical of the GPU's not working once they are resold due to being tweaked so much trying to crunch low power.

 

I recently got a mining rig.

Currently running 8 rx580s got them on sale during black friday.
2 Sapphire Pulse Rx580s 4Gb $200 ea
4 Msi Gaming Rx580s 4Gb $240 ea
2 Gigabyte Auron Rx580s 4Gb $200ea

Where I live, this setup will bring ~$400 a mo profit without being undervolted and overclocked

 

What's your hash power?

 

~240 m/hs on stock

 

You should very well do it I have around a $42,000 build and I intake about $5,000 a month depending on the cost of ethereum. Now it also depends on how much you have to invest as well. I started a smaller build for a buddy of mines he invested $1,200 into his rig for ethereum mining and again depending on the cost of ethereum he makes about $140/month this is his build Nanopool | Ethereum | Account

 

Bumping

Just wanted to let you guys know my monthly report...

Started October 18 - November 18th, I mined 22.xx LTC

At the current price of $98.xx , I made $2156 USD in profits, which almost pays off 1 ASIC, however, this is only due to the price increase in the last few weeks. Once the month was finished, I had made only $10XX.00 USD (at a price around $50.xx USD.


However, I am now getting about .1 less LTC/day but this can vary. More test can be run and I will soon post a 2 month chart to show how much LTC I was mining a day.


Despite the nice profits.... buying an ASIC today IS NOT WORTH IT, so I urge you to stay away from Bitmain as new 7nm chips will be released soon and difficulty is skyrocketing.

 

read my latest post :0

 

yeah thats Ethereum, not ASIC mining which is completely different. Is ETH ASIC resistant? I only mine LTC with ASIC because LTC was never meant to be ASIC resistant so I don't feel bad lol

 

Damn the gainz though!! nice.

 

Been over a month, still no pics?

 

You guys should research mining DASH. I have a friend that built a new and expensive setup that mines it. I do not know much about it, but a few of your with mining rigs might want to take a look at it.

 

Mining Dash with GPUs would not be profitable because there are asic miners such as Bitmain's D3 miner that can hash much more.

 

And be careful with Bitmain, they only care about their own profits, not yours. The first batch of a new product line will probably be profitable but be cautious on the other batches.

 

Bitmain only sells their ASIC's after they themselves have gotten plenty out of it.

 

um this is actually a very big misconception. My miners were obviously untouched. Most people online are saying the same. I have done research on that before and no one can give solid proof that this is the case. Yes, machines are tested. I saw once users who stated that something like 1/200 miners bitmain sold him and his partner had a broken fan, 9/10 worked perfectly fine and didnt seem used.


Also, another reason people think this is that users on Ebay sell thier bitmain miners for a huge profit margin and mine on them before they sell. If anyone is doing this, it isn't bitmain, at least with the L3+ ... Aslo, I didnt get the first batch and my machines are perfectly fine and run great.

Another reason may also be the "reseller" websites that claim to sell brand new bitmain miners when they themselves used them.

There have been some cases where users ordered the 14 model and got a 2013 backstock model, but as for the idea that Bitmain is producing ASICs at a ridiculous high volume, only yo hold onto the capital investment even longer to mine themselves, then repackage and ship the miners to their customers has no real evidence to support it.

A lot of users claim "It was dented and broken when I got it and look obviously used", which can mean a few things.

- They bought off ebay because it was easier and thought Bitmain sold it direct
- They bought off a reseller in thier home country
- They bought from the real bitmain but since it is china and they use China EMS shipping, you can't expect packages to be handled with care (I have ordered countless goods from china and almost always are the boxes fucked up.... However, Bitmain was the FIRST chinese company I ordered from who's boxes didnt have a dent on them and used nice protection for the miners)
- They bought at a turning point in the inventory / restock of products, and since they weren't first come first serve for the new years, they got backstock

... the list can go on and on. The reason I am saying this is because I myself was skeptical about Bitmain and I had heard this, but after much research, I could not find a single reliable source, and almost all that said there machines were premined either didn't know much about mining, or they said they because 1/6 PCI-e or hashing boards didn't work, which does not mean it was premined.




But look, lets say they were? It wouldn't matter. Unless they were mined under harsh conditions and treated like shit, then it wouldnt matter. bitmain has a 180 day warranty, which is MORE than fair, being that my $2000 laptop only had a 90day 3 month warranty and could purchase a year for more, and they actually test run all PC under benchmark and keep them running for 24 hours (Xotic PC I think, could be 12 hours). "IF" bitmain did premine, and it caused any damage, I would most likely see that damage upon arrival, and send it back for a replacement, or mine on it for another 180 days and see it if "faults" within that time.



But I have yet to find a real evidence based story to why a users L3+ was premined on, now, S9 can be a different story...







DESPITE THIS BITMAINS CUSTOMER SERVICE IS SHIT, WEBSITE IS BAD, USD MONEY ORDERING WAS TERRIBLE (this is why they no longer take USD), and is run by a 5 year old chinese man so I mean yeah, that's why GPU mining seems more fun and better for short term gains and alts.

 

Ok first of all, relax bud.

Secondly not gonna read all of that.

Thirdly, there's no evidence they mine before they sell the ASICS, and there's no evidence they don't. But considering they control the hashrate for every ASIC coin, I'm gonna go out on a limb and say yeah they do. Maybe the case you see on the outside is new though.

 

I'm almost certain they didn't mine with the D3 dash miners, which leads me to believe that they don't with their other products. If they did mine, it wasn't with many units.

Look at the hash rate chart:


If they were doing serious mining before releasing, the increase in hash rate wouldn't have changed much before and after the release. The first batch was delivered sometime in September, which is when the hash rate starts to pick up.