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I have started to learn about blockchain technologies, BTC and other crypto-currencies and right now interested in mining. I know that mining of BTC is not very profitable right now, but other currencies can be profitable.
I looked at ETH, DASH and Monero and according to this site I can earn near 150K per day with AntMiner S7, which seems to be unrealistic.
Please help me understand how this stuff works, is it real or have I some misunderstood something?
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You can't use AntMiner S7 miner for Monero. Only for Bitcoin.
ASIC miners like AntMiner are configured to calculate specific algorithms only (in this case AntMiner calculates SHA256 hashes). Monero uses a different one.
There are currently no Monero algorithms (CrytoNight) ASIC solutions, that is the reason the hash rate of the network is low.
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Well, BTC limitation is not a true. But yes, sha256 world is not quite big. Mining btc on antpool will give you basic statistic, it's depends on your local costs and power limits more than the your Antminer can do)
Ok, I have custom build S5 with 4 hash boards that can provide ~2Th on freq@275(this is my own limitations).
Okay back to PnL, so I'm able to mine ~0.001/day BTC on antpool. Then I moved to multipool and started mining alt coins that provided much more profits for me, depends on coin ~ ~0.002-0.004/day BTC https://www.multipool.us/dashboard/pools/sha256
You may try to find another alt coin pools, but keep in mind your antminer works with SHA-256 algorithm only.
Hope it helps.
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BTC mining profitability depends on KWh price and bitcoin price. Use this calculator. https://www.coinwarz.com/calculators/bitcoin-mining-calculator.
Remember Antminer S7 only support SHA-256 mining algorithms. You need to find a pool that support other SHA-256 cryptographic currencies.
For more info see https://www.reddit.com/r/Monero/comments/4x58kh/hashrate_question/
– thedrs – 2017-05-08T07:20:48.967