The largest Bitcoin mining company in the world, Bitmain, is in the daily cryptocurrency news for releasing and already selling out of its new ASIC Bitcoin mining chip – the Antminer S15. At a price of $1,475 a piece and a customer limit of two maximum, this is one of the best products when it comes to mining hardware.
Bitmain’s Antminer S15 is able to clock up to 23 terahash per second which means that 3 to 4 units would be required to match the performance compared to Bitfury’s Tardis which can clock up to 80TH/s. The Tardis, however, is a lot more expensive and costs around $7,000 per unit.
If we compare the Antminer S15 to another chip which is the Ebang Ebit 11+ – at a cost of $1,517 and a hash rate of 37TH/s – it is easy to see that this is the best deal on the market. At the same time, one cannot simply purchase a single E11. Instead, you must buy at least 50 for a minimum investment of $75,850.
All in all, stats from CoinWarz show that it would take just over 6 months to begin earning a profit from this chip with all factors considered. In general, Bitcoin mining has lost popularity as a profitable way to make money – mostly because of the large upfront investment and the profit margins which can be very slim for miners who must convert their coins right away.
Bitcoin In Myanmar No More: CBM Sees It As Liability
“Before making crypto illegal, its impact on the local currency and compatibility with existing policies should first be analyzed and discussed.’’
Bitcoin Trader From India Takes His Life After Losing His Investment
“DySP [Deputy Superintendent of Police] had come to my house to invest in five bitcoins. After incurring a loss due to slide in their value, Chirag and his brother Montu were demanding 11.575 bitcoins. I am distraught due to the recovery they are claiming. My life is not worth living. DySP Chirag Savani came to my house and threatened me to return the amount they had invested. I have been forced to commit suicide. The two brothers are responsible for my act.”The brothers demanded more than double of the bitcoin they invested as compensation. At the current prices, 11 bitcoin is worth about $92,000. According to Patel’s wife Usha, the bitcoin trader from India tried to reason with the brothers and make them accept the payment in installments. However, they wanted cash. Both of the brothers were demanding interest on the payment but the suicide note did not reveal the rate. After the slump of the crypto prices, the suicide rate became a huge issue in the sector. There has been a number of deaths related to suicide after losing an investment made in bitcoin. This is not surprising since this happens in the traditional financial markets as well. Suicides tend to grow when the market crashes. According to research that we read in the best cryptocurrency news sites, about 6,000 suicides are linked to the market crash especially the one ten years ago.
Tom Lee Thinks That Bitcoin’s $8,000 Upswing Confirms End Of Crypto Winter
“Hell of a bullish weekly close on #Bitcoin with near record breaking volume, solidifying the strength and validity of this rally.”Right now, Bitcoin looks like it is retracing below $8,000. However, this may be a short correction before a new upswing. Its dominance now sits at 57% and the total market cap is $244 billion.
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- Bitcoin In Myanmar No More: CBM Sees It As Liability
- Bitcoin Trader From India Takes His Life After Losing His Investment
- Crypto Regulators To Add New Strict Rules For Crypto Exchanges
- Tom Lee Thinks That Bitcoin’s $8,000 Upswing Confirms End Of Crypto Winter
- Crypto On WhatsApp: Send And Receive Bitcoin Litecoin As Of Today
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