Avoid Buying Old ASIC Miners
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- Опубликовано: 24 сен 2024
- I still regularly see older ASIC machines being sold on Amazon, eBay, and other websites.
This video explains why you should avoud buying one.
Referenced:
ASIC Miner Value - www.asicminerv...
Bitmain Shop - shop.bitmain.com/
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Kevin
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The Chinese On Alibaba Are Offering Used Miners At Throw Away Prices. Should I Buy Them? They're Still Very Profitable.
Use the old ASICS for a cryptoHEATER for cold weather etc... make sure you get it for DIRT DIRT CHEAP especially if you have cheap electricity rates.
It comes down to electricity rates and mining difficulties. If you pay 0.14$usd for electricity then you might have a brick. Go to the bottom of that webpage and enter YOUR electricity costs.
The price varies by time of year from this company: www.georgiapower.com/residential/billing-and-rate-plans/pricing-and-rate-plans/residential-service.html
Down to $ 0.047 /KWH during winter months...
Thanks for the very useful info. I'm not a big fun of ASICs but it's always good to know how things are looking.
You're welcome.
The big thing you didn't talk about is that profitability is down because coin prices are down. If we get any kind of bull market then mining profitability will rise and some of these machines may become profitable again. I have an old S9 that ceased to be profitable - so now I run it on cheap rate electric at night - and it's profitable once again. It bitcoin price rises then I may well switch back to mining 24hrs.
Yeah profitability will change in a bull run. If the main coin for an algorithm shoots up in price a miner be profitable again, though that shouldn't change what happens now.
I wouldn't buy a miner just now if it was running at a loss. It would make more sense to simply buy the coins.
Obviously, you can review things later when profit margins change.
I'm a novice at ASIC's and almost bought an ASIC s9 on Amazon.....in fact, its the same one you pointed out ANTMINER S9i..I'm glad i did my research and came across your channel and the website you recommended to cross-compare ASIC. Crypto is profitable only and when you do your research and get advice. Cheers Mate!
Thank you bro very helpful
So the person selling the used Asic miner can benefit from the next person he sold it to?
I am likin' this channel Kev. Keep doin whatever you're doin.I think you're holding back a tad about the asic reality but you're quick on the draw with replies. Subbed.
my daily, after work, crypto news/events/discussion run:
BBT
soat
vosk
buried one
Cliffoncrypto
goosetech
and now....Kev's crypto
(this is the the chiselled down list after unsubbing all the click baity "know nothings"
Thanks LL. Looks like I'm in good company in your list.
Do you think I'm holding back with ASICS though? :)
well I understand you have a channel and need to appeal to as many peeps as possible but the whole asic cycle does nothing but tear down crypto. profit 2 or 3 months, throw it out, buy new one, rinse and repeat ad infinitum. Bitmain already called out the z9 max which will turn the z9 mini to junk. In a few months the profit on the big z9 will turn to shit. Everyone will be dumping coin to get their roi before profit crashes which devalues the coin. They centralize coins to the point where devs cant make changes without bitmains consent because for every unit they make available to the public they run a thousand in their mining farms. Bitcoin literally can't tweak itself without Jihan Wu's permission. That's horrific. At some point govt's will intervene and ban crypto to stop china/bitmain from controlling all wealth and that will be the end of the dream to get away from ponzi fiat currency. GPU's don't do this. A huge gpu farm can't skew the hashrate enough to centralize the coin. If I had an empty slot, I have an old 7770 that I could clock and profit with. Only the vram limits what you can mine. They last for years. Even the next gen gpu's can't skew the hashrate enough to force everyone to upgrade. Twits point out that there are more asic mfg's than gpu mfg's. It's beyond stupid to compare this and suggest asic has anywhere NEAR the distribution, accessibility, customer service or reputation to uphold as nvidia or amd. theres not one plausible argument in support of asics. The efficiency could be plausible if it wasn't outweighed by the tens of thousands of garbage asics getting tossed in the bin lol. The turnover on gpu's is orders of magnitude slower than asic plus, with gpu's, only the card gets tossed but it will get recycled and reinstalled for ages. I put an old 1030 in a build for my parents 2nd puter and it browses and plays vids perfect for them. Gpu's are just glorious. Anyway, you know all this I'm sure and I understand you gotta grow your channel by appealing to everyone. You need some donation addy's, you'll starve to death on yt revenue. Rvn is my "tip" coin. It's teeny but it feels great to see those huge coin numbers roll in.
That's the longest comment I ever wrote :/
Is that even still classified as a "comment" ?
Just to clarify, I'm not trying to appeal to the masses or appease anyone. I always do videos on what interests me, what I read, what's on my mind, and what I discuss with my subscribers in videos and love streams etc
The ASIC mining cycle is definitely different to GPUs, though that doesn't mean it's bad for crypto. Bitcoin and Litecoin networks, for example, are supported by ASIC mining machines.
In a year we will see companies like Samsung enter the market. That could be a game changer and fight Bitmain's dominance.
I appreciate you suggesting donation addresses, but I'm not looking for donations from viewers. I don't want to have a channel where I ask for money 😀
Don't forget if you have solar or any kind of renewal buy whatever the cheapest ones are for now and mine then hold .Then resell the the miner later ..... it all depends on your Electricity :) ... so be very care full . if you don't have Electricity some one else pays or renewal Electricity , don't buy anything that uses 1100 watts you lose ..you might be ok with a miner that uses 500 watts to 700 watts anything over that don't buy unless you have Electricity some one else pays or some kind of renewal .
here in pakistan its too much cost of electricity plz advise profitable cloud mining if any!!!!
Apart from NiceHash and Mining Rig Rentals, I don't know of any. A lot of the cloud mining services are scams.
With the floods in china and the bitcoin hashrate taking a hit, would the sha-256 miners that are left get a better profit?
If that was an active mining farm that was mining Bitcoin every day, then the hashrate would drop. However, I suspect the drop is so insignifant it probably won't even matter.
If you buy from china and don't get your machines for whatever reason... it is going to be a pain to resolve the issue, and you might end up losing your money. I'm fine with ordering risers, but ASICs is a lot of money.
Where is the best place to buy now to any county
ha ha I concur scumbags is the correct term. Good heads up for new people. I hope this message helps people.
Buy from bitmain or amazon, you still get a used asic
Hahaha that is true.
Some of the ones on Amazon are two to fours years old.
must be a lottery as my z9 was squeaky clean, zero signs of use.
hOnG k0nG fu3y my Z9 was also brand spanking new.
in 2 months they'll be making less money than a hd7850 lol
I can't understand how Antminer Z9 Mini price went down from 2k$ to 850$ !
It all comes down to the total numer of units on the market.
* Each coin has a specified number of coins that are rewarded every day
* The more Antminer Z9 Minis in the market, the more people that are mining those coins
* That means that there are more people fighting the same limited amount of coins (therefore difficulty shoots up)
* Daily profits from the Antminer Z9 Mini therefore drops
Because the daily profits of the miner is reducing every day, the price has to go down too in order to make it an attractive option to potential buyers. :)
asics ALWAYS, without exception, have a huge profit out of the gate but only vs gpu's. Vs other asics they make less than a gpu or the same if you're lucky. Asic is released, they push gpu off the coin. Profits crash when it becomes asic vs asic. The current asic becomes junk and then you have to buy a new faster asic etc. etc. This is the life cycle of all asics but new people keep entering crypto and buying more asics lol. All the happy z9 owners think their crazy profits are forever and they keep pumping the nonsense asic arguments. If you're asic is not in the first batch you essentially get a boat anchor in the mail. Kevin, tell them how many times this asic life cycle has repeated itself. I still have an old hd7850 on a rig makin profit. I have a couple yt accounts saved who replied to my posts with their asinine asic reasoning. I'm gonna msg them in 2 months about their profits, just to rub it in, cuz sometimes I'm an asshole. It's my dads fault, I need counselling lol
worth paying the extra and buying direct for a batch 1 asics to maximise you profit/reduce the ROI time. Plenty of $250 vouchers out there also for the likes of Bitmain allowing you to pickup a batch 2 z9 mini for $600 which should still see a ROI after 2 months
Difficulty is definitely going to keep going up and up, but I agree that $600 is a great price. Especially considering current returns.
you wont get them in time. gpu's leaving those coins by the thousands. it will be asic vs asic by the time you get them and you'll be dialing the suicide hotline.
Daily returns are going to drop drastically over the next two months. No doubt about that.
id be dialing the the suicide line if id dropped $$$ on gtx cards to mine $30+ per day. they wont roi before then next gen cards are available, glad I sold mine off while they were worth $$$
Hi if you have free electricte Asics is more profitable. But if your paying for it most of time gpus are better .
L3 + it's still profitable now in 2021
The only safe investment is GPU not ASIC...
Petar Stefanov would not say safe ..nothing is ever safe ,BUT I will agree they are lot more flexible n have more options.