I am a student in High School living with my family. I don’t pay bills or anything either. I’m using a lenovo tower. It has average or in some ways, below average specs. 4 gigs RAM, i5, etc. Nothing special. Don’t even know the graphics card. I am looking into mining. I’m here to ask if I would profit using a 500 dollar antminer S7. I read it can make around 1500 per month. But I want to know if my PC might overheat or if it only strains the ASIC. Would it work at full potential on my PC? Would I make money with it? I can currently make half a cent per day on my PC. I don’t think it’s worth it unless I’m making actual money from it. Would it work and would I make money? I can answer any questions y’all have.
Maybe a couple years ago. Now it’s more like $250 according to the calculators. You’ll have to factor in power. It states that it takes about 0.25W per GH, and the S7 churns through ~4.7 TH, or ~4700 GH. That’ll chew into your profits, but you’ll have to find out how much power costs in your area to know how much.
As for your PC, you’re not mining off of your PC. The worst that could happen is that your PC and the miner are on the same breaker when the miner trips it, unexpectedly powering off your PC.
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Would it be a good investment? Is there a better miner to buy? I can get about 500 dollars or so to buy something like that and if I profit from it, I can buy more with that money until I actually start making real money. Are there any other ASICs that I should buy or what should I do?
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I will say if you can get an S7 for $500, you might make some money. I haven’t seen any for that low. Usually it’s more than double that.
What you should do is not spend any more money than you are willing to lose. You’re late to the Bitcoin game, so don’t assume that it will continue this massive upward trend. It might, and if it does, awesome. But be prepared for the idea that you might sink your initial investment into BTC, and it crashes.
Fact: This has been said since before Bitcoin was terribly relevant and is basically the reason I didn’t adopt years ago. This needs to stop being repeated. Yes, it does ever so slightly increase the difficulty. But what’s the alternative? Not get into mining? Wouldn’t that also ensure that only the large players see returns?
Thanks to finally getting into mining when I did (ETH is my particular poison) something like 6 months ago, I’ve already nearly paid off the 3 video cards I’ve dumped into the project. If ETH tanks tomorrow, I’ll only be out slightly less than the cost of a decent gaming video card, and I will have 3 decent gaming video cards to upgrade my kids’ computers with.
Topic is old enough to be potty trained.
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