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Since the birth of Bitcoin, its POW (proof of work) mechanism has determined that Bitcoin mining will become a long-lasting gathering place for gold diggers on its rugged road. Every player who has just come into contact with Bitcoin will always be fascinated by the magic of Bitcoin mining for a period of time, and will be eager to try it. Baidu Index Bitcoin-related word classification silently verifies this: from source search terms to destination search terms, mining always ranks first.
However, the road is narrow and there are many drivers. Bitcoin cars are roaring forward, and the market competition is becoming more and more fierce. Countless new and old drivers have fallen off the car. Mining has entered the era of large capital clusters and is no longer something that ordinary people can handle. Especially after the daily output was halved this year, although the expected return cycle calculated in RMB is more optimistic, the expected return cycle calculated in Bitcoin has begun to approach the traditional equipment leasing industry, and a view has emerged: Bitcoin mining is not as good as directly hoarding coins.
For small and scattered players who lack experience and have no way to enter the market, this may be true. However, from a higher perspective, if everyone hoards Bitcoin instead of using it, and cannot create cash flow to feed back the entire economic chain during use, and form a magnet effect for outsiders, then Bitcoin will lose its original purpose of creation. An illiquid currency will not have a future with a price of 180,000. Therefore, participating in Bitcoin mining is a way to hedge the risk of hoarding coins. And from a 2-3 year investment return cycle, mining may not be worse than hoarding coins. The most intuitive example is: if mining cannot make money, why is the computing power invested in real money rising?
Cloud computing power can well solve the pain points of small and medium-sized miners and small scattered players who have high thresholds to participate in mining and difficulty in making money. It is also an excellent way for large mine owners to spread risks and share the economy. They build mines on a large scale in areas with low electricity costs, have lower machine prices and low electricity costs, and also have more professional technical teams and rich operating experience. The remote leasing of computing power to users in the form of computing power leasing is actually a joint mining through financial leasing, which transfers most of the risks and rewards. The initial cloud computing power platform has significant seller's market characteristics, with high selling prices, high maintenance costs, and high electricity cost scissors. With the emergence of a large number of cloud computing power platforms, market competition is fiercely differentiated. After a long process of survival of the fittest, the market price of computing power has gradually become transparent and returned to a more reasonable level. The current investment cost and subsequent operation and maintenance costs required for cloud computing power sold in the domestic market are significantly better than ordinary players operating home-based mining by themselves.
To get back to the point, this article is mainly aimed at novice users who want to try Bitcoin mining. It makes a horizontal comparison of the latest HaoBTC standard computing power products. Since there are too many variables that affect Bitcoin mining income, this article only explains the calculation principle and does not predict income. Please evaluate the investment risk yourself.
Before comparing, let’s first understand some keywords:
Computing power: Computing power is the ability of a Bitcoin mining machine to produce Bitcoins, and is the ability of a mining machine to generate hash collisions per second. The unit conversion relationship of computing power is 1000G=1T, 1000T=1P, and the total computing power of the entire network is now about 2000P. In the Bitcoin world, about 12.5 Bitcoins can be produced every 10 minutes, so the total output per day is about 1,800. Mining can be abstractly understood as the behavior of this 2000P computing power competing for the right to produce 1,800 Bitcoins every day. Now the theoretical output per P per day is about 1800/2000=0.9 Bitcoins. If the computing power increases in the future (this is a high probability event), the difficulty of mining will increase, and the output per unit computing power will decrease year-on-year. This record of computing power increase and decrease is updated approximately every 13.5 days, which means that each difficulty update can maintain a fixed theoretical daily income for 13.5 days (the income before deducting the cost of operation and maintenance electricity fees). For the theoretical daily income of the current computing power and the time of the next difficulty adjustment, you can go to /calculator.html and enter the computing power value for inquiry. The rise and fall trend of computing power is generally positively correlated with the rise and fall of the coin price, and negatively correlated with the rise and fall of the mining machine price.
Introduction to mainstream mining machines: The current mainstream mining machines in the market can basically be divided into two generations, namely the 28NM process Avalon A6 mining machine and Ant S7 mining machine, and the more advanced 16NM process Ant S9 mining machine and Avalon A7 mining machine (just launched, actual data is unknown).
Avalon A6 mining machine: The current market price includes power supply of 1,800 yuan, the computing power is about 3.8T, the actual power consumption per ton is about 330W, and the price per ton is 437 yuan.
Ant S7 mining machine: The current market price includes power supply of RMB 2,450, with a computing power of about 4.7T, actual power consumption of about 300W per T, and a price of RMB 521 per T.
Ant S9 mining machine: The current official price is 11,300 yuan, the computing power is about 13T, the actual power consumption per T is about 110W, and the price per T is 869 yuan.
Mining profit calculation method: For miners, profit = Bitcoin produced * coin price - mining machine cost - electricity cost - maintenance fee and labor cost - mine depreciation fee, etc.
For those who purchase cloud computing power, profit = expected total computing power revenue - purchase price.
Since the changes in the total network computing power and the fluctuations in the coin price in the future are unpredictable, the calculation of the expected total computing power income varies from person to person. However, the daily computing power income of the current difficulty cycle is relatively easy to calculate. Taking 1T computing power as an example, generally speaking, the daily income = theoretical daily income - daily maintenance fee - daily electricity fee (the main cost of mining is electricity fee).
Electricity charges denominated in RMB are generally fixed. Daily charges = power consumption (kW/T) * electricity price (per kilowatt-hour) * 24 hours. Assume that Xiao Ming has 1T cloud computing power on November 30, 2016, with a power consumption of 110W, a daily maintenance fee of 0 yuan, and an electricity price of 0.35 yuan per kilowatt-hour.
Assume 1 Bitcoin = 5200 yuan,
The theoretical daily income calculated in RMB = 0.000892*5200 - 0 - 0.11*0.35*24 = 3.7144 yuan The theoretical daily income calculated in Bitcoin = 0.000892 - 0 -0.11*0.35*24/5200 = 0.0007143 coins Although it is almost impossible to accurately predict the expected income of Bitcoin mining, we can easily analyze the two standard computing power products recently launched by HaoBTC according to the above formula and select the more cost-effective product (more money if you make money, less loss if you lose money). In order to facilitate comprehensive comparison, 1T computing power is used as the unit, and 1 Bitcoin is equivalent to RMB 5,200. At the same time, in order to better reflect the relationship between the selling price and the electricity fee, a custom word static payback period is introduced, that is, assuming that the future currency price and computing power remain unchanged (this is basically impossible, just for the convenience of calculation), the number of days to dig back the computing power investment.
Static payback period = hashrate price / current daily income summary list is as follows:
At first glance, 300W/T products are cheap and have a short static payback period, which seems to be more suitable. In fact, it is necessary to comprehensively weigh the price of the currency and the rise and fall trend of the computing power of the entire network, because its higher power consumption generates higher electricity costs. Once the mining income of computing power cannot offset the electricity costs, it basically means the end of its life. The 150W/T product obviously has a longer life. If you think that the price of the currency and the computing power will rise and fall synchronously in the future, it is more suitable to buy a 300w/T product. Otherwise, maybe 150W/T is more suitable for you.
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