10k$ to invest with free electricty | Bitcointalksearch.org

kingcolex

sr. member

Activity: 254

Merit: 1258

Quote from: Justnew on September 01, 2015, 03:28:09 PM

Quote from: Jamphone on September 01, 2015, 02:27:09 PM

Quote from: Justnew on September 01, 2015, 02:20:54 AM

Qatar is the only country on the world who is giving free electricty and water to there citiznes

While water and electricity are subsidized to residents, they aren't free. They charge 2.2 cents USD/kWh for electricity to residents and industry. And those rates are going up. Their neighbour the UAE just doubled their electricity prices to about 5 cents USD, so expect Qatar to do the same.

Also, mining in a country that hot is going to be extremely expensive. Where water is metered, and far more expensive for industry, swamp cooling would be very expensive. So AC, which means increasing your energy costs by 30%. Throw that all in, and its no more competitive than a 5 or 6 cents USD jurisdiction.

Yea i know its 2.2 for residents and free for cizines and it was free from 60 years so believe it will not change now

And its true that the weather is very hot but the room is supplied with 3 air conditions and with free energy it will not chang the cost

Btw if u want to google again u need to know that there are a big different between residents and citizins and uae is a country and qatar is another country

Because when someone tells you china hase a cheap energy you cant answer its not true because south korea has expansive energy

Okay so you are in Qatar, then I would buy from china as they are closer and you could get some deals, I would check Aliexpress for certain miners and make sure with shipping it is cheap. They use escrow but make sure the processing time isn't excessively long or your money could be tied up a LONG time.

jt byte

hero member

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Quote from: jt byte on August 31, 2015, 05:53:37 PM

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Quote from: Justnew on August 31, 2015, 06:24:38 AM

Quote from: BTC_ISTANBUL on August 30, 2015, 03:09:28 AM

Quote from: Jammalan the Prophet on August 29, 2015, 09:52:21 AM

If you have "free unlimited energy" I would get a loan to start building an aluminium plant.

There is no free electricity on this planet, but I wonder why alluminium plant?

btc_istanbul its not true that there isnt free energy because in my country citizens get free water and electricity and i own my house and never get what you call water bill or electricty bill

I know there are countries with extremely reduced electric but I have not heard of any with free electric and no limit. What voltage lines do you have, how many square feet of room for miners, do you live there? What is the ambient temp in your location?

I have seen a very similar thread to this. I don't understand it either. If a country is footing the bill it has to have a limit. Being able to call and get a large amount of free electricity is just to good to be true.

I suspect a very few members might get lucky enough for this "free" but I think they will find a limit to how many watt's they can use. I just don't see one using thousands of watts more then neighbors and company not saying something unless your paying for that electricity.

More likely someone is making deal with friends at the electric company or the government when it is a subsidized and covered by the government thing. We all know how these countries officials work and if you're getting "free" electric I am sure you made a deal of some sort.

I know in some countries somewhere it is free of charge the electricity but remember if it is stable and without any reductions (Which happens in some countries) then you have a good opportunity to start mining(but not in the room that you are staying).
And invest in new products that are much more improved than the old miners.

When you have free electric you want to start with the most GH per dollar and go from there for a quick ROI, I know the Dragon T1 miners are a favorite of those with free electric.

How long will it take to get the ROI with the Dragon T1 miners if you run it 24/7, at actual bitcoin price?

Well I haven't found any recently but it depends on location, but holybitcoin.com has 600gh for 100$ http://holybitcoin.com/product/btc-garden-am-v2-610-ghs-sha256-bitcoin-miner/
he has 2, for 200 dollars us you are getting 1.220 th/s

If difficulty increases by 5% were looking at ROI time in 99 days, if it is higher it will be longer.

It is not expensive almost 1btc
Let's calculate it 2 x 99$ = 189$
ROI in 99 days = 189/99 = 2$ per day is the profit after the ROI so i think it is not profitable ?

2 x 99 = 198$ and I am not understanding what you mean after you think it is not profitable, how quickly to think miners are going to roi?

Yes i had in mind that but mistyped when writing fast. I think to get quickly the ROI not so much even quickly that this.

Soros Shorts

donator

Activity: 1616

Merit: 1003

Quote from: Justnew on August 28, 2015, 01:42:59 PM

And i want to add that i have unlimited free electricity

How many kW max? I mean, I know it is free but how much power can you draw in your house before all the main breakers trip?

5 x S7's, which you can get for $10K, would need slightly over 6kW. If you can easily power 6kW worth of mining equipment you should start looking at cheaper inefficient used hardware.

notlist3d

legendary

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Quote from: torepia on September 09, 2015, 12:08:01 PM

Quote from: ElectricMucus on September 01, 2015, 03:39:29 PM

*grabs popcorn*

Perhaps you might consider growing pot instead?

LED's are quite efficient now a days, would be a waste, unless he has unlimited space!

OT: Used S5's? You can make them into S5+'s can't you? (Same controller?)

Most likely they will not sell you an S5+ controller for projects like this. But if they did and you got it to work the S5+ uses 9 blades.

But they are different controller S5+ has many more ports. So many they put a PCIe to power the thing. The S5 is a lot littler and much less plugs.

torepia

full member

Activity: 140

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Quote from: ElectricMucus on September 01, 2015, 03:39:29 PM

*grabs popcorn*

Perhaps you might consider growing pot instead?

LED's are quite efficient now a days, would be a waste, unless he has unlimited space!

OT: Used S5's? You can make them into S5+'s can't you? (Same controller?)

ElectricMucus

legendary

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Marketing manager - GO MP

*grabs popcorn*

Perhaps you might consider growing pot instead?

silverbox

legendary

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How big is the service to the room? I remember some posts 3-4 years ago about houses with free electric and controlled rent with 1 to 2 year leases in Washington state IIRC. But a house typically has 200A 240volt service and effectively its more like 120A, as you will melt the utilities incoming service wires, because they can't handle 200A or even 160A 24/7.

It sounds like you have a room or apartment with free electric maybe 50A of 240volt? That is enough to run 10 S5s or so and their cooling, which will likely cost you close to your 10k usd investment. Go for it.

Justnew

newbie

Activity: 5

Merit: 0

Quote from: Jamphone on September 01, 2015, 02:27:09 PM

Quote from: Justnew on September 01, 2015, 02:20:54 AM

Qatar is the only country on the world who is giving free electricty and water to there citiznes

While water and electricity are subsidized to residents, they aren't free. They charge 2.2 cents USD/kWh for electricity to residents and industry. And those rates are going up. Their neighbour the UAE just doubled their electricity prices to about 5 cents USD, so expect Qatar to do the same.

Also, mining in a country that hot is going to be extremely expensive. Where water is metered, and far more expensive for industry, swamp cooling would be very expensive. So AC, which means increasing your energy costs by 30%. Throw that all in, and its no more competitive than a 5 or 6 cents USD jurisdiction.

Yea i know its 2.2 for residents and free for cizines and it was free from 60 years so believe it will not change now

And its true that the weather is very hot but the room is supplied with 3 air conditions and with free energy it will not chang the cost

Btw if u want to google again u need to know that there are a big different between residents and citizins and uae is a country and qatar is another country

Because when someone tells you china hase a cheap energy you cant answer its not true because south korea has expansive energy

Jamphone

full member

Activity: 125

Merit: 100

Quote from: Justnew on September 01, 2015, 02:20:54 AM

Qatar is the only country on the world who is giving free electricty and water to there citiznes

While water and electricity are subsidized to residents, they aren't free. They charge 2.2 cents USD/kWh for electricity to residents and industry. And those rates are going up. Their neighbour the UAE just doubled their electricity prices to about 5 cents USD, so expect Qatar to do the same.

Also, mining in a country that hot is going to be extremely expensive. Where water is metered, and far more expensive for industry, swamp cooling would be very expensive. So AC, which means increasing your energy costs by 30%. Throw that all in, and its no more competitive than a 5 or 6 cents USD jurisdiction.

Justnew

newbie

Activity: 5

Merit: 0

For all whos saying that there arent free electricty

I dont know if its allowed to put links here or no

But u can google about qatar citizin

Qatar is the only country on the world who is giving free electricty and water to there citiznes