Editor's Note: This article comes fromZhikuang University (ID: gh_37c9e0eaf00a), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Zhikuang University (ID: gh_37c9e0eaf00a)
, reprinted by Odaily with authorization.
In the past few days, the three bitcoin mining machines I purchased have just completed the migration from the hydropower mine in Sichuan to the thermal power mine.
Calculated from the official launch on June 1 this year, in just half a year, these mining machines have returned 68.16% of the cost (excluding the residual value of the mining machine). For those who are new to the mining circle, it can be regarded as a relatively satisfactory mining investment.When Bitcoin is about to break through the $20,000 mark, it is time to do a simple mining review and review.
secondary title
Why buy a mining machine?
Which is easier to make money, mining or speculation
, has been controversial in the industry.
Judging from my personal experience of being harvested by various projects and various "blind operations" in the circle, making money is not "as simple as breathing". Hoarding coins in a bear market and selling in a bull market, this seemingly simple strategy is actually a test of human nature. In the face of ups and downs in the market, I can't help but chase the ups and downs. Leverage and contracts take turns, and in the end I frequently "snap my thighs" and "turn off the lights to eat noodles". "Earning money is harder than reaching the sky", this is the truth.
In May of this year, the boots of the halving of Bitcoin output landed, and the entire encryption market also recovered from the trauma of the 312 plunge. The most obvious signal is the recovery of bitcoin prices: in May, bitcoin has risen to more than $8,500.
When everything began to become clear, I decided to take a small part of the funds to participate in mining and test the waters. Just at this time, I saw that B.TOP, a subsidiary of Lebit, launched a batch of WhatsMiner M21S-64T.
Mining is very particular about entry timing and cost control. After some comparison and consideration, I decided to buy 3 mining machines first.
Here's my decision-making process at the time:
1. The halving of Bitcoin output has been completed, which means that the media hype around the topic of "halving" will come to an end. Media hype is a major unstable factor affecting the market.
2. The market has picked up. The price of Bitcoin has risen to more than 8,500 US dollars, returning to the level before the 312 crash, but it has not broken through the new high of 10,500 US dollars at the beginning of the year. This means that the currency price has simply returned to normal levels.
3. The price of mining machines lags behind market changes and has not increased significantly. According to the price at that time, the static payback period of Whatsminer M21S-64T mining machine is about 300 days. Since the currency price is still at a low level, the static payback period of 300 days is very attractive.
5. The price per unit computing power is low enough. At that time, the price of the latest Antminer S19 Pro-110T mining machine in August futures was 178.8 yuan per T computing power. In contrast, the price of Whatsminer M21S-64T mining machine 80 yuan / T seemed very cost-effective.
6. The spot mining machine will go online in a week, so it avoids various uncertainties and possible pitfalls of futures mining machines.
7. Due to the impact of the epidemic and Bitmain's internal disputes, the output of mining machines this year is low, which means that there will not be too many new mining machines entering the market in the future, and the growth of the computing power of the entire network will not be too fast.
8. In May, the computing power of Bitcoin’s entire network was about 108E. Considering that a large number of S9 mining machines will be eliminated after the wet season ends, and the production capacity of new mining machines is insufficient, it was predicted that the computing power of the entire network would stabilize at 110E～120E. (Looking back now, this prediction was too conservative)
secondary title
Mining machine performance and mentality changes in the past six months
On June 1 this year, the 3 mining machines I purchased were officially put into operation to enjoy the cheap electricity during the high water season.
While the wet season brings abundant rainfall to Sichuan, it also brings many natural disasters. In June of this year, due to excessive rainfall, floods, mudslides, and landslides in Sichuan caused network interruptions of telecom operators, power outages at hydropower stations to clean up silt, etc. It was inevitable that mining machines would be shut down for a day or two.
But even so, participating in joint mining is still more cost-effective than buying cloud computing power directly, because when cloud computing power service providers sell computing power, they have already taken into account the factors that will cause the mining machine to stop. Power and electricity costs are sold at a higher price, so consumers are ultimately responsible for it.
The price of the currency has doubled, and the price of mining machines has also risen. The 3 mining machines I bought have passed the half-year warranty period. Based on the price of ¥80-90/T in the second-hand mining machine market, each mining machine can be sold for 5120-5760 yuan, and the median value is 5440 yuan. It was even higher than the price I paid for the mining machine at that time. If you sell it now, the coins equivalent to half a year will be mined at no cost. This is the "Davis Double Tap".
epilogue
The coins mined every day, after deducting the electricity fee, are automatically sent to the separately created Bitcoin wallet and stored first, and then sold when the bull market climaxes, and the income will be much higher than direct "digging and selling". To give a practical example, if I "dig and sell" every day, the current payback rate of my three bitcoin mining machines is 58.79% (excluding the residual value of the mining machine), and the residual value is 165.04%; , according to the price of 19206USDT at the time of writing, 68.16% of the cost (excluding the residual value of the mining machine) has been recovered, and the residual value is 174.41%.
After participating in mining, my mentality has also changed a lot. The price of Bitcoin has risen, so there is no need to chase it up, because more coins are received every day (fewer coins are deducted from electricity bills), and the income of coins dug out and hoarded before has also increased; the price of Bitcoin has fallen, and there is no need to kill , because the coins dug up every day are constantly reducing the cost of my mining machine. Without chasing ups and downs, and steadily collecting coins every day, your mentality will naturally improve.
