use the calculator, the calculator say me that you can have profit even at 0.21 cent, but you need to do some trading with your hash at some point, because of the diff, roi will be long
at 0.21 consumption is $189 and earning is still $330, so $140 of pure profit each month, with a single s7, 10 months to roi if diff remain unchanged...
Topic: 21 cents per kw, Any way to mine? - page 5. (Read 10538 times)
With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.
Yeah i have been wrestling with the idea but it means dropping over 1k and with the way the market is at the moment im not sure if i want to buy any , If it crashes down a bit i will probably buy a bunch but if not and it goes up then i will probably just miss out
With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.
Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?
When it comes to bitcoin mining, take notice of the following factors:
- Price per kW (everything under 10 cent is ok)
- Price of equipment (the miners + PSU)
- The difficulty (these last weeks the difficulty went sky-high)
https://bitcoinwisdom.com/bitcoin/difficulty
Since i don't know which equipment you are considering you should check this link and calculate your potential ROI time: http://www.coinwarz.com/calculators/bitcoin-mining-calculator
If you need more information, let me know.
I was going to go for the s7, i know its a few quid but its the best one out their as far as i can tell. Only problem is even if the price went up for bitcoin i would still be mining at a loss, And once the halfing happens i would be making even less. Its a no win for me im afraid.
Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?
When it comes to bitcoin mining, take notice of the following factors:
- Price per kW (everything under 10 cent is ok)
- Price of equipment (the miners + PSU)
- The difficulty (these last weeks the difficulty went sky-high)
https://bitcoinwisdom.com/bitcoin/difficulty
Since i don't know which equipment you are considering you should check this link and calculate your potential ROI time: http://www.coinwarz.com/calculators/bitcoin-mining-calculator
If you need more information, let me know.
With 21 cent per KW it makes not sense to start mining.
Maybe you can earn a profit till june, but after the halving there is no way you would make profits.
Sure the price could increase, but that is no certainty at all.
Maybe you can earn a profit till june, but after the halving there is no way you would make profits.
Sure the price could increase, but that is no certainty at all.
thats too expensive. I'm sorry. You could get a antminer s7, but you would have to sell it in 6 months. You could make a profit, probably break even, but 21 cents...ouch. Maybe you can buy it, and host it somewhere for a lot cheaper. (do a lot of research first).
Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.
I have to take exception to the comment about hosting and centralization. There is a huge difference between "cloud mining" and "hosting". A hosting facility does exactly that. It supplies electricity, space, cooling, and internet access, period. You own the miner, and direct in what way it's used. The hosting facility doesn't care how you use your miner. If you want to mine some obscure alt-coin, they don't care as long as you pay your monthly bill. You do have trust them not abscond with your hardware and not damage it. There are lots of the places.
Cloud mining on the other hand is just a financial transaction where you fund the ownership and use of the miners. You generally have zero control over the mining operation. You don't own anything, and are completely at the mercy of the operators to not just take your money and run, and pretend to cloud mine and not actually run a Ponzi scheme.
That is a good point on cloud mining even hashnest which is the one most used you cannot pick where to mine. It's on their own pool and they do not let you point it where you want. You will be mining BTC and it will be at their pool.
Hosting you have much more freedom as far as pools, which can be nice. Sometimes it's nice to support some of the smaller but great pools. It is unlikely any cloud hashing goes to like ckpool for example. You need hosting if you want to point it where you want.
thats too expensive. I'm sorry. You could get a antminer s7, but you would have to sell it in 6 months. You could make a profit, probably break even, but 21 cents...ouch. Maybe you can buy it, and host it somewhere for a lot cheaper. (do a lot of research first).
Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.
I have to take exception to the comment about hosting and centralization. There is a huge difference between "cloud mining" and "hosting". A hosting facility does exactly that. It supplies electricity, space, cooling, and internet access, period. You own the miner, and direct in what way it's used. The hosting facility doesn't care how you use your miner. If you want to mine some obscure alt-coin, they don't care as long as you pay your monthly bill. You do have trust them not abscond with your hardware and not damage it. There are lots of the places.
Cloud mining on the other hand is just a financial transaction where you fund the ownership and use of the miners. You generally have zero control over the mining operation. You don't own anything, and are completely at the mercy of the operators to not just take your money and run, and pretend to cloud mine and not actually run a Ponzi scheme.
Are you from Greece too? Same prices here!! 
Price is in the UK, makes me laugh when I'm in the USA and all the air condition units should not be adjusted due to the price of electricity..
thats too expensive. I'm sorry. You could get a antminer s7, but you would have to sell it in 6 months. You could make a profit, probably break even, but 21 cents...ouch. Maybe you can buy it, and host it somewhere for a lot cheaper. (do a lot of research first).
Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.
thats too expensive. I'm sorry. You could get a antminer s7, but you would have to sell it in 6 months. You could make a profit, probably break even, but 21 cents...ouch. Maybe you can buy it, and host it somewhere for a lot cheaper. (do a lot of research first).
Are you from Greece too? Same prices here!!
Honestly I wouldn't do it i mate. If it is a hobby then go ahead, but if you want some profit too it, it is a No Go.
In my country the price for elecrictiy is also very high. I try contact some datacenters and tried mining there, but eventually you are caught up with difficulty etc.
If you really want to mine, you could buy a second hand GPU and go for Monero or even Ethereum. This way it is more cost efficient.
In my country the price for elecrictiy is also very high. I try contact some datacenters and tried mining there, but eventually you are caught up with difficulty etc.
If you really want to mine, you could buy a second hand GPU and go for Monero or even Ethereum. This way it is more cost efficient.
Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?
You could set up a small solo mining rig and gamble basically. Something that doesn't use too much power and leave it on for a couple of months. You might be really lucky and find a block
If your electricity is $0.21/kWh, it is better not to mine if you do not think mining is your hobby. There are mining farms in China, paying $0.04/kWh.
You might make a short term profit, but you won't even come close to making enough back to pay for ANY currently available miner before it goes unprofitable (if it EVER makes a profit).
Cryptocoin mining is a low-electric-cost game if you want to make anything at it.
Cryptocoin mining is a low-electric-cost game if you want to make anything at it.
Looks like I will need to leave it to China.
There is hosting center you can put it in with China, US, Canada and others aswell those are just first 3 in my head. But you can still own hardware but you need to send it somewhere where electricity is fair.
At current rate you really cannot run more then a miner for "fun" it will never be for profit, which is not what most want.
Why bother paying those rates, buy some hash on hashnest and you will pay about 10 c a kw/hr, its the best option for situations like this. When you want to cashout just sell your hash power on the market.
Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?
If you pay that much you can take a risk and buy some energy efficent S7 miner. If the bitcoin value raises above 500 USD your chance to get ROI will increase.
But let me ask you something. Do you want to mine to earn or do you want to be 'part' of the revolution?
If you do it for earnings, buy and hold your bitcoins, you got a much bigger chance to achieve your goal.
If you want to support bitcoin better to set up a business that utilizes the coin instead of trying to mine with 21c/KWH. It's just not feasible.
You might make a short term profit, but you won't even come close to making enough back to pay for ANY currently available miner before it goes unprofitable (if it EVER makes a profit).
Cryptocoin mining is a low-electric-cost game if you want to make anything at it.
Cryptocoin mining is a low-electric-cost game if you want to make anything at it.
Looks like I will need to leave it to China.
Jump to: