Mining profitability / ROI



  • Hello,

    So I have been mining zcash for the last few months, been reading up a bit on burstcoin and have been interested to mine it.

    If I spent S10,000 on 56 8TB drives right now, how many coins would I expect to receive a day? Some dude over at another forum said they were mining up to 16,000 coins a day back in april with just 315TB. Is that true?

    How is the ROI for that many TB? Has the network difficulty gone up significantly recently?

    Thank you!



  • There's a calculator over at http://burstcoin.biz/calculator - but take 20% off in my experience - so you can expect around 3500-4000/day with that amount. If you did manage to get 56 drives for 10k ($22/TB is pretty good) then forgetting any other cost you could return investment on just disk cost within 6 months. I'd guess within 9 months to cover everything.

    Difficulty has gone up significantly recently so as always take with a pinch of salt. If you can buy disks at $22/TB though I expect you'd recoup a lot selling the drives afterwards if everything didn't work out.



  • Thank you so much for the fast reply!

    In regards to that calculator, how would I know what to put in for my coin base target and coins per block for now?

    Cheers



  • You know, after experiencing mining compared to what the calculator indicates and whatever anybody else says, I'd start a little lower than 56 drives straight out of the gate.

    The most important issue at first will be plotting your drives. It takes what seems like forever. I've been plotting one 5tb drive for the past 3 days at about 5500 nonces per minute, and I'm only 65% done. I'm not even going to try to calculate how long it would take to plot 56 drives. I expect it would be a while. And, while the problem is only temporary, you'll have a lot of unused capacity just sitting around.

    So, unless you are getting some super deal for investing that heavily, I'd get what I can plot in a week, then buy more (this is just me). Then, when you are about to finish with your first batch, buy a second batch.

    Also, if you use xplotter (plotting software you can find on this forum), you can start mining the drives you are plotting. I've read on this forum this sometimes creates errors, I haven't had any problems that I've noticed.

    Maybe an important thing to know is that I'm new to crypto mining. I've made a ton of mistakes that have caused me to take forever to plot 28tbs (5 drives). I've been at it for close to a month, and I still have one 5tb drive to go (yes, I'm slow on the uptake). That may be why I cringe at the idea of plotting 56 drives.

    You'll get a ton of help here. I'm always amazed how folks will take time-out to help a stranger. But, what can I say? This forum has a great bunch of people (including, of course, myself <smile> ).

    Maybe wait for a couple of more responses from people more savvy and experienced than I before making the final plunge.

    I hope you join us soon.

    Cheers!



  • @frozenmango said in Mining profitability / ROI:

    Hello,

    So I have been mining zcash for the last few months, been reading up a bit on burstcoin and have been interested to mine it.

    If I spent S10,000 on 56 8TB drives right now, how many coins would I expect to receive a day? Some dude over at another forum said they were mining up to 16,000 coins a day back in april with just 315TB. Is that true?

    How is the ROI for that many TB? Has the network difficulty gone up significantly recently?

    Thank you!

    huge word of caution before you spend your money, you saw the calculator, but you didn't take a moment to look at the dramatic shift in difficulty... which ironic enough is on the same website but not displayed on the calculator page, when it should be, so folks can make an informed choice, here is a link to the rise in difficulty, notice the last couple months, an explosion of difficulty, just imagine how much worse it will be with the petabytes of disks coming online in the next week and week after and week after, ROI is going to plummet for anyone jumping in...

    http://burstcoin.biz/charts/estimated-network-size

    I really wish the calculator had an explicit warning message the estimated difficulty is rapidly changing and in 30 days it won't be anywhere near what folks are using to determine if the ROI is acceptable or not to them... pause a moment...


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