Bitmain works on new R4 device for Hobbyminer

The mining hardware manufacturer Bitmain wants to set new standards in Bitcoin Mining. With a new Bitcoin miner, the manufacturer wants to explicitly address hobby miners who use it to feed their computing power into the Bitcoin network.

Bitcoin revolution: No longer profitable?

Mining is an essential component of the Bitcoin system and onlinebetrug found out that it is necessary to keep it alive. Anyone who already fed computing power into the system in 2009 was even able to earn money with a computer from home. Especially when he held back the earned Bitcoin revolution for a while and then sold them for several hundred euros.

Not long ago it was also a realistic scenario for private users to mine Bitcoins with USB miners or small rigs from home. Gradually, however, larger companies have concentrated and economies of scale have worsened, if not eradicated, the profitability of small private subscribers. Mining Bitcoins as a private individual with small devices from home is no longer as profitable as it was three years ago. Some private users therefore rely on other ways of earning money with cloudmining, for example.

Bitcoin revolution would like to bring the mining back into the living room

In an e-mail to CoinDesk, the manufacturer promised that the new R4 rig would be the second strongest miner in the world. For private individuals it should be possible again by an optimized current consumption to earn profits with the Mining from at home. A new power supply has also been developed for this Bitcoin revolution purpose to support efficiency.

Recently, the Antminer S9 achieved great popularity. Although it had the same efficiency, it brought with it some problems: As some users report, the device’s fans became so noisy when running at full power that operation in the home was impossible and some customers used the garage as their location. The R4 Mining Rig is therefore equipped with a new fan that is supposed to be as quiet as a split air conditioning system, explains Bitmain. A maximum volume of 52dB is to be produced, roughly comparable to a normal conversation between two people.

Dates and prices of the device
With the help of 16nm chips, the R4 is supposed to deliver an output of 8.6 TH/s. According to the manufacturer, it consumes 845W at an efficiency of 0.1 J/GH.

Bitmain will probably hold back with the prices until the sales start of the device on Monday. Screenshots that have appeared on the net and show the Miner on the Bitmain website with a price are estimated at 1000 dollars. For the APW5 power supply, another $300 would go to customers.

Opinion of the author (Max):

While a few years ago the calculation could be carried out very generously and changes with regard to the Mining Difficulty could be estimated relatively accurately, Mining has developed into a business with a tough calculation. Lower margins make it more and more unattractive for private users to take the risk and hope for a break-even, which is usually predicted to be reached in more than a year. For Bitcoin users, this is a perceived decade, so to speak.

(In an example calculation with an electricity price of $0.12 per kilowatt hour and hardware costs of 1300USD the magazine CoinDesk comes to a forecasted break-even point in 391 days with unchanged Bitcoin price and without considering the mining pool fees. It remains to be considered therefore still whether the enterprise of the R4 is worthwhile itself above all for German-speaking users, because the energy prices are here in Germany clearly higher.

Pay tickets with crypto

The government’s partially restrictive measures against crypto currencies have not harmed the crypto economy in Russia. The crypto market also developed off the radar. Now, several more crypto enthusiasts are probably travelling to Russia as guests – after all, the crypto hot spots Japan and South Korea are represented with their teams at the World Cup.

How convenient that there are also possibilities to pay tickets for games with crypto currencies. Although the tickets are not available at the official sales outlets with Bitcoin, Ether and Co., they can be purchased through third-party providers such as the Wirex and Epayments platforms. Wirex issues Visa Debitcards, which allow Bitcoin payments as well as Euro and US dollar payments. Epayments also offers cards that can be filled with Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Accommodation and meals in Russia – Bitcoin or Ether are gladly taken

If your team’s match takes place in the Russian exclave of Kaliningrad on the Baltic Sea, fans can also pay their hotel bills with crypto currencies. The hotel group Malina Apartments cooperates with the Russian Crypto-Startup Free-Kassa. Payment in 14 different crypto currencies is possible via the FKWallet.

If you also want to get to know the Russian pub culture without rolling the ruble, you also have an option. In Moscow, St. Petersburg and many other large cities are the Killfish Bars, in which one can pay his beer in Bitcoin. The chain has been offering payments in crypto currencies since 2013 and is thus one of the pioneers of crypto adaptation in Russia.

The World Cup also takes place on the Blockchain

After all, the World Cup also runs on the Blockchain – in the form of a betting game. CryptoCup is a prediction game based on the Ethereum blockchain. Here, crypto and football enthusiasts can make predictions about the games. The players create their own crypto collectables. Individual ERC-721 tokens are used for this – the same standard on which CryptoKitties are based. If the forecasts are stored in the tokens and the tournament begins, the tokens can be traded with each other.

So crypto currencies play their own role in the history of this World Cup. It is not only crypto fans who are curious to see whether crypto currencies can continue to assert themselves as a means of payment during the World Cup.

Tobias SchmidtTobias Schmidt has been an editor in the BTC-ECHO team since August 2017. His area of expertise in the crypto area is the many different applications in politics, economy and society.