Any suggestions on bitcoin mining - page 2.

senyorito123

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Quote from: ivanst776 on January 10, 2016, 07:33:52 AM

Quote from: senyorito123 on January 10, 2016, 07:15:42 AM

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

My suggestion is not to use cloud mining as most of them collapse after a short time, own mining hardware depends on your electricity cost and your budget planned to buy the mining rigs.

i think you're right. and also i need a lot of money for hardware mining.

senyorito123

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Quote from: mwizard on January 10, 2016, 08:56:03 PM

Quote from: senyorito123 on January 10, 2016, 07:58:52 PM

I am using solar power generator. so i think it's good on hardware mining? what do you think?

Solar power is not 'free' power for mining if you can earn money by selling power back to the grid. You need to treat the solar generated power cost as being what you lost by not selling electricity back to the grid.

Then you need to add in the cost of buying power from the grid when you are not generating sufficient solar power.

As a rough rule of thumb your average power cost over 24 hours needs to be under about 10 cents per kWh for mining to be viable. Solar power is unlikely to help.

I think you're right but my solar power is not enough to be sold to the grid.

senyorito123

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Quote from: WENGER on January 10, 2016, 07:33:07 AM

Anything that you have full control over it is the wiser choice so owning a mining equipment is the right choice here but note that buying and owning a mining equipment shouldn't be your only problem as a lot more factors come into place when you try to operate a mining equipment like it's electricity cost and if you do something wrong then you will soon find yourself giving money for its maintenance repairs too so depending on what your plan is (if you have) make sure your ready for the consequences before getting on board.

noted i appreciate your advice. i really need a plan on mining.

mwizard

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Quote from: senyorito123 on January 10, 2016, 07:58:52 PM

I am using solar power generator. so i think it's good on hardware mining? what do you think?

Solar power is not 'free' power for mining if you can earn money by selling power back to the grid. You need to treat the solar generated power cost as being what you lost by not selling electricity back to the grid.

Then you need to add in the cost of buying power from the grid when you are not generating sufficient solar power.

As a rough rule of thumb your average power cost over 24 hours needs to be under about 10 cents per kWh for mining to be viable. Solar power is unlikely to help.

senyorito123

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Quote from: bearex on January 10, 2016, 07:18:40 AM

My suggestions is: dont do bitcoin mining, because you will make very small ammounts of BTC, even if you didnt have to pay for electricity.

so all i need to do is bitcoin investing. and avoid scammers aight?

senyorito123

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Quote from: VirosaGITS on January 10, 2016, 07:32:55 AM

Quote from: senyorito123 on January 10, 2016, 07:15:42 AM

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

It all depend on your location, budget and electricity price. The most important thing is your electricity rate per kWh. What is it?

I am using solar power generator. so i think it's good on hardware mining? what do you think?

ivanst776

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Quote from: senyorito123 on January 10, 2016, 07:15:42 AM

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

My suggestion is not to use cloud mining as most of them collapse after a short time, own mining hardware depends on your electricity cost and your budget planned to buy the mining rigs.

WENGER

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Negative rating was requested by me (SFR10)

Anything that you have full control over it is the wiser choice so owning a mining equipment is the right choice here but note that buying and owning a mining equipment shouldn't be your only problem as a lot more factors come into place when you try to operate a mining equipment like it's electricity cost and if you do something wrong then you will soon find yourself giving money for its maintenance repairs too so depending on what your plan is (if you have) make sure your ready for the consequences before getting on board.

VirosaGITS

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Quote from: senyorito123 on January 10, 2016, 07:15:42 AM

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

It all depend on your location, budget and electricity price. The most important thing is your electricity rate per kWh. What is it?

OmegaStarScream

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Quote from: senyorito123 on January 10, 2016, 07:15:42 AM

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

Both of them is probably not profitable anymore , there is a lot of cloud mining companies that turned out to be a scam later.
and for Hardware mining , Well it's not a scam since you mine yourself but you really won't earn that much unless you own a mining farm or something (which can costs millions of dollars) or ..; or If you don't have to pay electricity otherwise the earnings <= electricity (depends on the price anyway)

bearex

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My suggestions is: dont do bitcoin mining, because you will make very small ammounts of BTC, even if you didnt have to pay for electricity.

senyorito123

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i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

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