My first ASIC mining experience so far...
So, I've had my single Antminer L3+ since Oct. 18. You can bet your ass I had it hooked up and hashing within 30 minutes of signing for the parcel, lol.
With a BTC price of $6,500 - 7,000, NiceHash is avg. $20 USD a day. I've only JUST switched over to ProHashing this past Sat. morning, Nov. 11. It's not looking so great...
The math I'm doing, after 5% (FIVE ??) fees is closer to $14.00 USD a day. Not very happy. I have been hearing good things about their rewards (payouts), but the downtime IS as everyone says, regular.
It's a good pool to use as long as you set your failovers, and have TONS of ASIC power, and are willing to justify a $6 day loss for the convenience of payouts in almost ANY coin you want.
Honestly, with as expensive as BTC transactions are (right now anyway) I think NiceHash is still the better choice. I can handle, I guess, a $15 fee to cash in my $125 worth of BitCoin, considering at $14 a day on ProHashing is only $98 a week PLUS NETWORK FEES. My math isn't into detail for this post, just want to let prospective miners know, ProHashing isn't doing me very well so far. And if they are in the top 5 best paying profit changing pools or whatever, then WOW... Just wow.
On the other hand, this first ASIC experience is actually pretty impressive. I'm still waiting on a second unit, and any further upgrades will be newer, future models. I can't see getting anymore Antminer L3+s, or even the S9 with as many trillions of these things Bitmain is selling. I watched the LTC network go from 7TH to the now 35TH just from June. One L3+ in June could mine almost an entire LTC per day, now it's 0.22!!! Holy shit!
I'm pretty happy overall tho. Will I buy more ASICs? Most definitely... A lot of people say just spend the money on coins, but honestly, my blockfolio doesn't mature at the rate of $140 a week. And if it did, selling would only slow down growth because AHH COINS ARE GONE NOW, duhhh... :)
And just because, at $0.13 per kWh, this single L3+ should cost me a whopping $78 a month in power, versus the $125 per WEEK its generating, after network fees, RIGHT NOW. Does anyone here like free money? 'Cause this it literally like FREE MONEY!
I'm liking it so far... :)
I’ve been poking around the idea of doin a little mining but just haven’t decided to pull the trigger yet. This is some helpful info. Thanks. I’m no computer genius by any means. I know enough to get me into trouble. 😜. What is the cost difference between the ASIC miner and antminer? What are your thoughts on gpu mining? My gpu on my computer doesn’t work with windows 10, so I’m goin to be getting a new one and was wanting to use the old one for something. I can’t remember what gpu I have. My bro in law built the pc for me. Thanks again for the info and costs associated with your mining set up. STEEM ON!!
The Antminer is an ASIC. I also have a 5x GPU mining setup. I like both. ASIC can only mine the one algo, but GPUs can mine lots of algo's. ASIC is WAY more profitable, but it really depends on your budget. Since I don't have much of a budget, but going, seemingly, half and half between ASIC and GPU is working out good. Dual mine ETH + DCR on GPU, and sell hashpower to NiceHash / ProHashing for ASIC seems to be doing me good. Build up some ETH (which is always good) and get some extra BTC scratch. :)
If you have a older GPU, prob wont be able to do anything in regards to ETH, but maybe mine some SmartCash. Network is low hashrate right now. I have a cheapy old GPU laying around on SmartCash and getting about 10 a day. Thats how ETH started. People could mine MULTIPLE ETH a day. Even when I started, my one GPU could mine a whole ETH in 30 days. Now its half an ETH in 2 months for all 5 working together. Difficulty has blown up THAT much. INSANE.
Shows how much I know. Lol. That’s what I’m looking for is a little scratch on the side for fun. Then it might get into something a little more serious. Thanks for the info man. Now it’s convincing the wife 😜
Oh man should have invested in a antminer instead of a cloud mining contract :( To your points, do not forget upfront cost of the equipment. In the summer they were overpriced and even now a L3+ is still I think overpriced. Definitely love free money :p