Is it worth buying a new G1? Asking because its cost is quite high and I think the electricity expenses will make the ROI impossible to reach.
I already have some G1 mini and I wanted something more powerful but I can’t find anything else.
Any ideas about some miner? It looks like Ipollo is the only company focusing on Grin miners.
The G1 is not more efficient than a G1 mini, it is basically a bunch of G1 Mini chips stacked together. So calculate if the Grin you earned with your G1 Mini is worth more than the electricity costs you made (125 W).
You can calculate it based on the current difficulty, around 11 kGps, with 1 grin per second and a hash rate of approximately 1.2 G/s for a G1 Mini you get for one day
Profit: 6060241.2/(11000) = 9.43 Grin per day, at a price of 0.47$/Grin worth 0.443$
Costs: at 0.1$ per kWh = 24125/(1000)*0.1 = *0.3$
This means that the break even cost only considering electricity is currently 0.1 * 0.443/0.3 = 0.1476 $/kWh. In most cases your electricity costs will be higher, e.g. in EU and UK the costs are much much higher meaning you make a loss on mining even when excluding the costs of hardware.
Ipollo G1-mini pulls ~85W on average, same energy use as G1/30. Perhaps the initial PSU released with the G1-mini at launch was 120W, which is why most of them died.
I buy both G1 and G1-mini. G1 is limited in that it can only go in an off site facility with 220V circuit that has high tolerance for noise pollution. Yes, G1-mini is easier for resale, and holds resale better value because of it’s larger market.
It seems to me that the danger here is different, namely, if suddenly Bitmain decides to release an ASIC for mining grin, then the network will collapse and the complexity will skyrocket. Wouldn’t want that, of course! It’s better to leave things as they are. But still, there is a danger, because Bitmain they want to crush the entire ASIC market for alternative coins.
Not sure what you mean with this? The network has nothing to do with the difficulty. If new more efficient miners are produced it just means that old miners might become unprofitable, no further impact on the project. Buying miners is always a gamble on whether you get ROI before better miners arrive.