Who buy Bitcoin miners now? They freaking CRAZY ??? :)
When I start mining Bitcoins, payback time was 2-3 weeks, then I get profit.
It was mining tornado! I was crazy! I bought all miners that I can find until enough power outlets)))
Then network difficult grownup and payback time increased up to 3 months. It has become a trend for a few years!
How about current time?
Let’s take popular miner BITMAIN ANTMINER S9-B8, 11.85TH/s.,
current cost 2.77 BTC, 1831.63 USD
+ avg. shipping 0.179 BTC, 118.63 USD
TOTAL: 3.198 BTC, 2115.11 USD
And let’s see Bitcoin Mining calculation:
And we get infinity payback time!
But if we have FREE power outlet, we mine and get payback time for 12 months. How about profit??? Dubious profit.
And one more strange thing – somebody bought all these ANTMINER S9 miners!
Only one thing can change mining economy… This is Bitcoin price (!)
If we take 3 months for miner ROI (Return Of Investment, payback time) time with free outlet. Bitcoin price should have multiplied by four: $660 * 4 = $2640 USD
Hard to calculate ROI with paid outlet, because it depends electricity price and too big ROI period. During this time, the network difficult change too much.
People were saying this in 2012-2013 Now they regret it!! You will regret it in 2025. Mine and hold is the key, never price new coin in todays prices.
Yes, you right. But everybody would like to earn at near future, when buying new miners.
Also I forgot about technical progress... now ASIC chips have the same technology like CPU.
But first quantum computing miner kill all ASICs (!)
I'll write next post about it.
I think $2640 USD bitcoin will be in 2018 ))