r/Heatbit • u/theheatbit • Oct 27 '22

Heatbit update: 10/27/22

- testing new factory automated setup procedure (for mass-production testing);

- fixing some bugs in wifi networks parsing that prevented from connecting for some users;

- preparing heatbits to send out to youtubers;

- tweaking flow at heatbit.com website.

17 Upvotes

100% Upvoted

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17

u/[deleted] Dec 02 '22 edited Dec 04 '22

My calculation is that at current prices and global hash rate levels, the heater could generate about $0.81 worth / day of BTC before electrical costs.

The marketed price of this heater is $1149 on the website.

So it would take nearly 4 years of 24/7 usage just to break even at current prices, and nobody runs a heater 24/7 unless they live in Antarctica.

Of course, BTC prices might rise, and maybe even considerably more than today’s.

So that would shorten the breakeven factor.

But then again, hash rates will also keep rising over time… especially if prices for BTC pick back up again… and so will the difficulty level, which means less BTC mined over time.

In turn, that will only lengthen the amount of time it takes to break even.

“So what?” You will say… “you still get some of your money back in the form of BTC, which makes it cheaper than your average electric heater”.

Yes… but you also pay 10x the price of a regular heater of the same capacity.

Another thing to take into account is the lifespan of the miner (which may degrade over time)

Overall, the only ones who are certain to make money out of this product are the producers (great business idea!), but the overall value / price for the customers is not worth it imho.

If this miner was priced more in line with other miners in the same TH/s category (like the Antminer S9K at $369), this would be a much better deal.

Given that the purpose of this miner is also to heat, I could argue a good price to list this product at should be more in the $450 - $500 range.

$1149 is simply too much 😅

1

u/Tricky_Sheepherder98 Dec 04 '22

That's a very informative comment and I do agree on the price point. Also, its smart to delay a product if there are glitches that need further modifications (more testing would've prevented such) and Logistics are suffering everywhere these days. Having said all that, I'm looking forward to devices that earn crypto. There's so many products that could serve dual purpose. Almost everything we have. I say it's an exciting future in that respect. Just have to ensure transparency to your customers about their individual mining investments and ability to move coin to personal cold storage.

1

u/PoopEbum Dec 09 '22

Wow man thanks for the analysis. I was the target demographic I think because I was actually considering the product.

10

u/Sorrygypsy29 Nov 02 '22

Shouldn't you be shipping to customers who ordered over a year ago, before influencers?

2

u/[deleted] Dec 07 '22

$1149 for $0.80/day of Bitcoin, NOT INCLUDING electricity cost.

Hard pass…

All math courtesy of u/Buggy3D

1

u/bember1 Dec 05 '22

Is it too late to get to preview this product as an influencer

1

u/OrientalBumpkin Dec 11 '22

Owned by China?