Bitcoin Miner as a job | Bitcointalksearch.org

picolo

hero member

Activity: 1022

Merit: 500

Quote from: klondike_bar on December 02, 2014, 06:06:07 PM

^because no fees and 1.1btc/th seems legit.... oh and a 5yr contract.

1th of equipment will use at MINIMUM 12kwh/day, or about $0.50/day if located in the cheapest power areas of Washington state with zero overhead. That's $180/year. More realistic variables are 2-4x that.

Beware the cloud ponzi

Cloudminr is located in Norway but I don't think the electricity is cheaper there than the price you gave. They said they will add maintenance fees later on. Everyone is buying up GHS there to benefit from the promotion of having cheap GHS and no maintenance fees for a limited amount of time.

klondike_bar

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Activity: 2128

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ASIC Wannabe

^because no fees and 1.1btc/th seems legit.... oh and a 5yr contract.

1th of equipment will use at MINIMUM 12kwh/day, or about $0.50/day if located in the cheapest power areas of Washington state with zero overhead. That's $180/year. More realistic variables are 2-4x that.

Beware the cloud ponzi

picolo

hero member

Activity: 1022

Merit: 500

Quote from: raskul on December 02, 2014, 03:41:35 AM

Quote from: picolo on December 01, 2014, 08:02:38 PM

Quote from: raskul on November 27, 2014, 08:00:32 PM

Quote from: picolo on November 27, 2014, 07:58:22 PM

Quote from: raskul on November 27, 2014, 04:11:36 AM

stuff..

1700GHS/695$ is 0.0011/GHS and will mine less than 0.1 the first week

i don't ever buy miners with BTC but if you say that's right i'll concur.

have a great weekend.

If you buy with $ you still want to know if you will ROI in BTC so you have to compare the amount of BTC you could have bought with the amount of BTC that the miner will return.

you presume too much.
here's what I have.

a long term investment and a nice pile of paper wallets.
it is probably correct that if someone buys with $, that they are most likely so greedy to want to know precise calculations, so that they know when is best to cash out. but hey, that is indicative of the U$A.

i buy in €.
and...
you only have to compare anything if you have OCD.

If you want more BTC or more $ and you mine knowing you will get back less BTC that you would have bought you are not making a good deal in comparison to buying BTC so why mine and not buy BTC?

You can ROI if you buy cheap to cloudmining companies like cloudminr that doesn't have maintenance fees.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: picolo on December 01, 2014, 08:02:38 PM

Quote from: raskul on November 27, 2014, 08:00:32 PM

Quote from: picolo on November 27, 2014, 07:58:22 PM

Quote from: raskul on November 27, 2014, 04:11:36 AM

stuff..

1700GHS/695$ is 0.0011/GHS and will mine less than 0.1 the first week

i don't ever buy miners with BTC but if you say that's right i'll concur.

have a great weekend.

If you buy with $ you still want to know if you will ROI in BTC so you have to compare the amount of BTC you could have bought with the amount of BTC that the miner will return.

you presume too much.
here's what I have.

a long term investment and a nice pile of paper wallets.
it is probably correct that if someone buys with $, that they are most likely so greedy to want to know precise calculations, so that they know when is best to cash out. but hey, that is indicative of the U$A.

i buy in €.
and...
you only have to compare anything if you have OCD.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: raskul on November 27, 2014, 08:00:32 PM

Quote from: picolo on November 27, 2014, 07:58:22 PM

Quote from: raskul on November 27, 2014, 04:11:36 AM

stuff..

1700GHS/695$ is 0.0011/GHS and will mine less than 0.1 the first week

i don't ever buy miners with BTC but if you say that's right i'll concur.

have a great weekend.

If you buy with $ you still want to know if you will ROI in BTC so you have to compare the amount of BTC you could have bought with the amount of BTC that the miner will return.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: picolo on November 27, 2014, 07:58:22 PM

Quote from: raskul on November 27, 2014, 04:11:36 AM

stuff..

1700GHS/695$ is 0.0011/GHS and will mine less than 0.1 the first week

i don't ever buy miners with BTC but if you say that's right i'll concur.

have a great weekend.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: raskul on November 27, 2014, 04:11:36 AM

Quote from: notlist3d on November 26, 2014, 06:42:05 PM

Quote from: picolo on November 26, 2014, 06:32:22 PM

Quote from: notlist3d on November 25, 2014, 07:23:08 PM

Quote from: Seketsuna on November 25, 2014, 07:16:27 PM

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

If it made 140 a week I would sure be ordering a lot more.

5T or so would get you around 175 current market rate (but that does not take in account electricity or cooling). To do this you will have much more then 1k of startup.

Bitmain offers a 2THS for 1200$; ANTMINER C1 Batch 2 375$ for 1THS.

SP20-Jackson miner 1.7THS at 795$ but it will mine in the region of 0.1/week so 40$/week

spondoolies has a SP35 Yukon Power November Batch 1 5.5THS for $3,595.00 and they are out of stock, if he waits for a year he may have a 5THS for 1000$

In a year though 5T will bring in a lot less though. It would not meet his 140 per week requirement.

SP-Tech are reducing the price of the 1.7TH/s SP20 by a further $100 tomorrow thru monday for a cyber monday sale.
buy 3 @ $695 each.

1700GHS/695$ is 0.0011/GHS and will mine less than 0.1 the first week

gingpark

member

Activity: 99

Merit: 10

-All Investment Has its Risks and Rewards-

Quote from: notlist3d on November 25, 2014, 09:50:10 AM

Quote from: cowandtea on November 25, 2014, 09:25:23 AM

Quote from: notlist3d on November 25, 2014, 08:20:58 AM

Quote from: gingpark on November 25, 2014, 12:18:37 AM

Quote from: notlist3d on November 23, 2014, 01:22:01 PM

Quote from: gingpark on November 23, 2014, 01:14:02 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

I believe that is true, pretty much home mining is not really a job but at the moment with the average electricity rate that must people have at home.

I say as a lot people have mentioned on the forums this is more of a hobby.

I had to just sell off my miners be off since the price dropped to $400. It just does produce enough to cover expenses.

I say its a job if you manage a large data center with all electricity running on solar and never pay electricity ever again.

I hope mining will lead to faster pace development in the solar energy.

Solar is just too high priced for the wattage needed with mining.

I personally am lucky with low priced electricity and it's winter so free to super cheap cooling.

I have used winter to expand soon I will be up to 11k watts (approx 15T worth of gear). Winter is making it possible for me personally.

Yes the price for solar is way to high and I can make guess to why that is but that is most likely a different topic in itself.

And you are lucky with low electricity I really do wish I had the same since even as a hobby, mining itself is pretty fun overall.

To a certain degree like a lot of times, hobby for what I believe is suppose to take a lot of money and it's stuff you don't even consider about ROI cause it is fun and what you want to do.

At the moment just feels like all you do is pay bills with nothing much left which to me definition of a job? Haha Tongue

I actually feel good with my low electricity. I am doing more then paying just bills. It is no longer guaranteed ROI, but is very possible for me.

How low is it to consider it as cheap electricity? is 0.1 KWH good enough nowadays?

That is what I'm at almost. The big thing for me is over next few months winter weather. You can pull that very cold air in and push hot air out for extremely cheap compared to AC in summer.

Make sure to check and make sure it does no get huge on tiers, some have a sliding scale depending on how much you use.

For me 0.1 KWH would be a dream nowadays without the tier system. I haven't check out the rates for winter yet but for summer I was getting .25+ and plus there is that AC.

Which is just crazy due to the tier over here especially since I have to share the meter with other people as well so always ending up with the highest rates which starts at 60%+ usage.

In the past though they allowed more KWH in the first tier which ranged from ~.1 - .15 but nowadays they reduced how long I can stay in that tier by 50% so pretty much instantly jumps to the highest tier. Embarrassed

raskul

sr. member

Activity: 434

Merit: 250

Quote from: notlist3d on November 26, 2014, 06:42:05 PM

Quote from: picolo on November 26, 2014, 06:32:22 PM

Quote from: notlist3d on November 25, 2014, 07:23:08 PM

Quote from: Seketsuna on November 25, 2014, 07:16:27 PM

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

If it made 140 a week I would sure be ordering a lot more.

5T or so would get you around 175 current market rate (but that does not take in account electricity or cooling). To do this you will have much more then 1k of startup.

Bitmain offers a 2THS for 1200$; ANTMINER C1 Batch 2 375$ for 1THS.

SP20-Jackson miner 1.7THS at 795$ but it will mine in the region of 0.1/week so 40$/week

spondoolies has a SP35 Yukon Power November Batch 1 5.5THS for $3,595.00 and they are out of stock, if he waits for a year he may have a 5THS for 1000$

In a year though 5T will bring in a lot less though. It would not meet his 140 per week requirement.

SP-Tech are reducing the price of the 1.7TH/s SP20 by a further $100 tomorrow thru monday for a cyber monday sale.
buy 3 @ $695 each.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: picolo on November 26, 2014, 06:32:22 PM

Quote from: notlist3d on November 25, 2014, 07:23:08 PM

Quote from: Seketsuna on November 25, 2014, 07:16:27 PM

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

If it made 140 a week I would sure be ordering a lot more.

5T or so would get you around 175 current market rate (but that does not take in account electricity or cooling). To do this you will have much more then 1k of startup.

Bitmain offers a 2THS for 1200$; ANTMINER C1 Batch 2 375$ for 1THS.

SP20-Jackson miner 1.7THS at 795$ but it will mine in the region of 0.1/week so 40$/week

spondoolies has a SP35 Yukon Power November Batch 1 5.5THS for $3,595.00 and they are out of stock, if he waits for a year he may have a 5THS for 1000$

In a year though 5T will bring in a lot less though. It would not meet his 140 per week requirement.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: notlist3d on November 25, 2014, 07:23:08 PM

Quote from: Seketsuna on November 25, 2014, 07:16:27 PM

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

If it made 140 a week I would sure be ordering a lot more.

5T or so would get you around 175 current market rate (but that does not take in account electricity or cooling). To do this you will have much more then 1k of startup.

Bitmain offers a 2THS for 1200$; ANTMINER C1 Batch 2 375$ for 1THS.

SP20-Jackson miner 1.7THS at 795$ but it will mine in the region of 0.1/week so 40$/week

spondoolies has a SP35 Yukon Power November Batch 1 5.5THS for $3,595.00 and they are out of stock, if he waits for a year he may have a 5THS for 1000$

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Seketsuna on November 25, 2014, 07:16:27 PM

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

If it made 140 a week I would sure be ordering a lot more.

5T or so would get you around 175 current market rate (but that does not take in account electricity or cooling). To do this you will have much more then 1k of startup.

Seketsuna

sr. member

Activity: 294

Merit: 250

Quote from: BigxMac on November 20, 2014, 08:24:58 PM

I am a programmer and love programming. It's all I do. My dad wants me to get a job when I turn 16, but I dont want to. I am looking to spend about $1,000 (less if I could) on a miner and I want it to generate about $200 dollars a week on average. I have been looking at the SP20-Jackson miner which would generate about $140 a week and costs $1,190. Anyone have any suggestions on a miner. Thanks in advance!

Get a job! going to work teaches you alot and helps build who you are. $140/week i don't know where did you get that ridiculous calculation.

harkonnen

full member

Activity: 210

Merit: 100

Quote from: picolo on November 25, 2014, 04:25:13 PM

Quote from: notlist3d on November 25, 2014, 11:17:14 AM

Quote from: picolo on November 25, 2014, 10:21:53 AM

Quote from: Argwai96 on November 24, 2014, 09:05:07 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

This is true. Generally speaking the prices that mining manufacturers are charging for retail customers are higher then what can realistically be earned from mining (even before subtracting the cost of electricity). In order to be able to realistically ROI on physical miners you will generally need to buy at the very least tens of thousands of dollars worth of equipment, much more then the OP is considering purchasing.

Yet they sell hundreds of hardware each new generation.
What discount can you get if you buy 10 or 20 in bulk? 20%? Is it enough to ROI? Not always

It depends but 10 or 20 most likely will not get you 20 percent. Even 20 units is a drop i the bucket to any of the manufactures.

Then to really save on the hardware you need to be a manufacturer, to pre-order or order 200 units or more.

OP is a programmer, not a hardware engineer.
Make money by creating some killer apps.

harkonnen

full member

Activity: 210

Merit: 100

Quote from: Snipe85 on November 21, 2014, 07:48:07 PM

Quote from: sbogovac on November 20, 2014, 08:33:10 PM

Get a job.

He wants a job that's why he's asking about mining. People are coin traders full time, what would you say to them?

They have enough assets that they don't need a job. And I have nothing to say to them.
To you, get a job.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: notlist3d on November 25, 2014, 11:17:14 AM

Quote from: picolo on November 25, 2014, 10:21:53 AM

Quote from: Argwai96 on November 24, 2014, 09:05:07 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

This is true. Generally speaking the prices that mining manufacturers are charging for retail customers are higher then what can realistically be earned from mining (even before subtracting the cost of electricity). In order to be able to realistically ROI on physical miners you will generally need to buy at the very least tens of thousands of dollars worth of equipment, much more then the OP is considering purchasing.

Yet they sell hundreds of hardware each new generation.
What discount can you get if you buy 10 or 20 in bulk? 20%? Is it enough to ROI? Not always

It depends but 10 or 20 most likely will not get you 20 percent. Even 20 units is a drop i the bucket to any of the manufactures.

Then to really save on the hardware you need to be a manufacturer, to pre-order or order 200 units or more.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: picolo on November 25, 2014, 10:21:53 AM

Quote from: Argwai96 on November 24, 2014, 09:05:07 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

This is true. Generally speaking the prices that mining manufacturers are charging for retail customers are higher then what can realistically be earned from mining (even before subtracting the cost of electricity). In order to be able to realistically ROI on physical miners you will generally need to buy at the very least tens of thousands of dollars worth of equipment, much more then the OP is considering purchasing.

Yet they sell hundreds of hardware each new generation.
What discount can you get if you buy 10 or 20 in bulk? 20%? Is it enough to ROI? Not always

It depends but 10 or 20 most likely will not get you 20 percent. Even 20 units is a drop i the bucket to any of the manufactures.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Argwai96 on November 24, 2014, 09:05:07 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

This is true. Generally speaking the prices that mining manufacturers are charging for retail customers are higher then what can realistically be earned from mining (even before subtracting the cost of electricity). In order to be able to realistically ROI on physical miners you will generally need to buy at the very least tens of thousands of dollars worth of equipment, much more then the OP is considering purchasing.

Yet they sell hundreds of hardware each new generation.
What discount can you get if you buy 10 or 20 in bulk? 20%? Is it enough to ROI? Not always

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: cowandtea on November 25, 2014, 09:25:23 AM

Quote from: notlist3d on November 25, 2014, 08:20:58 AM

Quote from: gingpark on November 25, 2014, 12:18:37 AM

Quote from: notlist3d on November 23, 2014, 01:22:01 PM

Quote from: gingpark on November 23, 2014, 01:14:02 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

I believe that is true, pretty much home mining is not really a job but at the moment with the average electricity rate that must people have at home.

I say as a lot people have mentioned on the forums this is more of a hobby.

I had to just sell off my miners be off since the price dropped to $400. It just does produce enough to cover expenses.

I say its a job if you manage a large data center with all electricity running on solar and never pay electricity ever again.

I hope mining will lead to faster pace development in the solar energy.

Solar is just too high priced for the wattage needed with mining.

I personally am lucky with low priced electricity and it's winter so free to super cheap cooling.

I have used winter to expand soon I will be up to 11k watts (approx 15T worth of gear). Winter is making it possible for me personally.

Yes the price for solar is way to high and I can make guess to why that is but that is most likely a different topic in itself.

And you are lucky with low electricity I really do wish I had the same since even as a hobby, mining itself is pretty fun overall.

To a certain degree like a lot of times, hobby for what I believe is suppose to take a lot of money and it's stuff you don't even consider about ROI cause it is fun and what you want to do.

At the moment just feels like all you do is pay bills with nothing much left which to me definition of a job? Haha Tongue

I actually feel good with my low electricity. I am doing more then paying just bills. It is no longer guaranteed ROI, but is very possible for me.

How low is it to consider it as cheap electricity? is 0.1 KWH good enough nowadays?

That is what I'm at almost. The big thing for me is over next few months winter weather. You can pull that very cold air in and push hot air out for extremely cheap compared to AC in summer.

Make sure to check and make sure it does no get huge on tiers, some have a sliding scale depending on how much you use.

cowandtea

sr. member

Activity: 434

Merit: 250

Quote from: notlist3d on November 25, 2014, 08:20:58 AM

Quote from: gingpark on November 25, 2014, 12:18:37 AM

Quote from: notlist3d on November 23, 2014, 01:22:01 PM

Quote from: gingpark on November 23, 2014, 01:14:02 PM

Quote from: eoakland on November 23, 2014, 06:21:45 AM

home mining is tough right now. depending on your region and how much they charge for power. you may be better off buying the coin instead.

I believe that is true, pretty much home mining is not really a job but at the moment with the average electricity rate that must people have at home.

I say as a lot people have mentioned on the forums this is more of a hobby.

I had to just sell off my miners be off since the price dropped to $400. It just does produce enough to cover expenses.

I say its a job if you manage a large data center with all electricity running on solar and never pay electricity ever again.

I hope mining will lead to faster pace development in the solar energy.

Solar is just too high priced for the wattage needed with mining.

I personally am lucky with low priced electricity and it's winter so free to super cheap cooling.

I have used winter to expand soon I will be up to 11k watts (approx 15T worth of gear). Winter is making it possible for me personally.

Yes the price for solar is way to high and I can make guess to why that is but that is most likely a different topic in itself.

And you are lucky with low electricity I really do wish I had the same since even as a hobby, mining itself is pretty fun overall.

To a certain degree like a lot of times, hobby for what I believe is suppose to take a lot of money and it's stuff you don't even consider about ROI cause it is fun and what you want to do.

At the moment just feels like all you do is pay bills with nothing much left which to me definition of a job? Haha Tongue

I actually feel good with my low electricity. I am doing more then paying just bills. It is no longer guaranteed ROI, but is very possible for me.

How low is it to consider it as cheap electricity? is 0.1 KWH good enough nowadays?

Topic: Bitcoin Miner as a job (Read 5602 times)