Hello Steem community! I've been hearing about this Baikal miner for a little bit now and see deliveries have started.
ASICMinerMarket posted a couple videos so I see thats 'some' kind of proof of it all, not to mention myriad difficulty has doubled+ so it seems to all be legit.
Hoping to put in a order soon here and get a batch before the difficulty skyrockets on all the algos but I see they are adding 2 more so that should help make some quick money/ diversify everyones hashing power into different algos unlike the flood of d3's crashing the difficulty and profits..
Wondering everyones thoughts on this as if you think it is a good investment. (obv at current rates it is) Thinking for long term do you think this will all go well? I see a lot of people have been getting scammed by companies claiming to be Baikal so still seems a little shady.
But wondering what you think will happen with the profits as they release more ASICs to the market? How dirastic could it go down for instance? Im assuming the D3 crash was because of 1000's of miners flooding the market so how long before somthing like this could become unprofitable? Or could it not/even itself out through the multi-aglos?
Hoping to get some expert opinions or experienced miners to give their 2cents on this Baikal Giant X10! :)
On a seperate note though I see all around the internet people telling others to not get into mining? Am I wrong but is it still totally profitable? I mean for people trying to make a yearly salary from it probably not but for extra funds isnt this still in a intemediate stage?
I really wish I started mining when i first saw BTC at $80 (HA! I remember when I thought $80-90/btc was wayyy overpriced! Boy was I wrong, missed my literal millionaire opportunity) but had absolutely NO funds to throw at that (Maybe $20 but that couldnt get any miner haha should have bought a 1/4 of a coin though!).
Then I remember checking when it skyrocketed around $800-$1000/btc (Also at the time thinking "My god this is overpriced, im waiting for it to crash to $300") to start mining again but the numbers at the time did not look good and anywhere and everywhere people would be posting just as they are now, telling you NOT to mine. Boy was I wrong again.... If I started mining at $1000 with what the difficulty was then I could have a large farm by now with the whole price surge! Missed opportunities....nothing new to me I guess. Gotta get back on the horse and hope for another, which is where Im at now.
(Should throw in that I would have only had enough money for 1 miner at the time)
Hoping (not to get rich quick or anything from this) but just get my foot in the door and start pocketing some money periodically.
Now I always see people saying "Throw the money youd invest into a miner into coins and just sit" But If I have sayy $2000, I could do a couple things with that money..
- throw that at BTC to buy generally .26btc (current rate)
- ~4 months rent @$500/mo
- Buy a $2000 miner +/-
Scenario 1: Buy BTC and sit HODL hoping they rise in price as they have and bank on any money made. If the price say skyrocketed to $20,000/per BTC it would turn .26btc into $5200.
Scenario 2: Pay rent with it and have no stress
Scenario 3A: Say (because the invested money is in BTC well use sha-256 algo soooo the miner will be Antminer S9)
-So that can bring in ~$430.00/mo profit after paying electric (almost 1 months rent!)
So is it safe to say that it will bring in roughly that amount every month and pay itself back in 4-5months? (obv current diff rate) But with the difficulty going up is it paying itself back in 9months realistic?
I think it is; and any normal investment (bank) would take much longer to make the ROI back. Then after that its alllllll profit. (obviously hoping BTC price continues to rise as well! I would only be selling btc for electric costs [if I needed to; hopefully just bank all btc made for long term hold or buy more miners])
3B-- So not worrying about the ROI but just getting these as a "rent paying" invenstment would be worth yes? Each month(at current rate of BTC) I could make $430 only needing to worry about $70 to cover rest of rent. And this could happen for the duration of years correct?
With difficulty going up even making $200 a month towards rent means I could hold a part time job and pay bills. Meaning anything over a part time job or other investments are all pocketed profit instead of going to rent monthly.
Eventually there will come the time where there is no profit at all but for the current time ratio (I would like to think still years -hoping BTC doesnt start(created) and finish(irrelevant) withing duration of a decade)
But hoping for more expert opinions on this. Thanks for reading :)
Pictures from bikialminer.com and google
....after reading this a couple times haha I see that mining is the better option with the $2000 if the price of BTC doesnt drop too much and difficulty doesnt go too crazy.............where investing that $2000 into .26btc is the better option when ONLY looking at the PRICE of BTC.
I guess I am really looking for some opinions here people! If I was in this position when the coin was $1000 I honestly thought it was going to plummet and settle around $300-$500 not go up 7x higher. So I would have thought "If I invest $1000 I 'could' lose it in a 24hr BTC plummet (as my luck usually plays out) or put it in a miner and get some kind of money flow reguardless of price and just 'hope' it goes up(Hope is never on my side lol). seeing it at ~$7800/per now I made the wrong choice of waiting for it to plummet..hit 2000, then 3000, now 7500+ so who knows what will happen next. With Seg getting canceled it seemes people fleed to BCH but coming back to BTC now.? Dont know but hoping to get into mining and hoping to get some kind of profits from it and experience from it all!
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Will share my ventures on steemit here, hope to get some of you to follow! :) Thanks for stopping by, cant wait to hear from ya!
