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

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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?

notlist3d

legendary

Activity: 1456

Merit: 1000

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.

gingpark

member

Activity: 99

Merit: 10

-All Investment Has its Risks and Rewards-

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

notlist3d

legendary

Activity: 1456

Merit: 1000

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.

I would agree power is a lot of the cost. It's either in your favor or not. Personally I am lucky to have lot's of space and decent priced electricity.

I just finished a little over 11k watts on my mining.... and I consider myself a hobby miner not job. 15 TH was fun to hit myself, but in the big pool of miners I'm a small fish still.

Argwai96

legendary

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Thug for life!

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.

notlist3d

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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.

gingpark

member

Activity: 99

Merit: 10

-All Investment Has its Risks and Rewards-

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.

sumantso

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Activity: 1050

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Quote from: picolo on November 22, 2014, 04:49:41 PM

Quote from: sumantso on November 22, 2014, 10:22:18 AM

If you're a programmer why not code for money? In this field there is a big demand for quality programmers.

Mining is a thankless job, you will struggle to simply break RoI.

You can make a lot of money mining if you are very good and dedicated or you can make a lot of Dollar when Bitcoin rises in price.

If the profit is dependent on price rise then its much better to buy the Bitcoins instead. At these prices its more profitable to buy and hold rather than spend the amount mining.

eoakland

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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.

xhomerx10

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Activity: 3808

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Quote from: edgar on November 22, 2014, 09:06:34 PM

though to be totally fair the 'luck' on btcguild has been sweet the past few days..

Yeah I keep expecting them to post a news item begging for their coins back because they screwed up somehow Wink

notlist3d

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Activity: 1456

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Quote from: edgar on November 22, 2014, 09:06:34 PM

though to be totally fair the 'luck' on btcguild has been sweet the past few days..

They had a dry spell for a while. I loved the pool for the longest time though.

edgar

legendary

Activity: 1848

Merit: 1001

though to be totally fair the 'luck' on btcguild has been sweet the past few days..

xstr8guy

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Glow Stick Dance!

Quote from: picolo on November 22, 2014, 04:49:41 PM

Quote from: sumantso on November 22, 2014, 10:22:18 AM

If you're a programmer why not code for money? In this field there is a big demand for quality programmers.

Mining is a thankless job, you will struggle to simply break RoI.

You can make a lot of money mining if you are very good and dedicated or you can make a lot of Dollar when Bitcoin rises in price.

Being "very good and dedicated" means nothing when it comes to BTC mining. Good luck is the best you can hope for. And that's much, much harder these days.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: picolo on November 22, 2014, 04:49:41 PM

Quote from: sumantso on November 22, 2014, 10:22:18 AM

If you're a programmer why not code for money? In this field there is a big demand for quality programmers.

Mining is a thankless job, you will struggle to simply break RoI.

You can make a lot of money mining...

Hahahahahaha

Dream on.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: sumantso on November 22, 2014, 10:22:18 AM

If you're a programmer why not code for money? In this field there is a big demand for quality programmers.

Mining is a thankless job, you will struggle to simply break RoI.

You can make a lot of money mining if you are very good and dedicated or you can make a lot of Dollar when Bitcoin rises in price.

sumantso

legendary

Activity: 1050

Merit: 1000

If you're a programmer why not code for money? In this field there is a big demand for quality programmers.

Mining is a thankless job, you will struggle to simply break RoI.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: philipma1957 on November 22, 2014, 09:19:15 AM

Quote from: raskul on November 22, 2014, 04:25:48 AM

Quote from: ?? on ??

Quote from: raskul on November 21, 2014, 05:15:43 PM

I just bought 100 barrels of brent crude.
Now, THAT is what i call investment

interesting!

my old man just yesterday told me to consider crude...

please elaborate or PM.

PM'd you mate

so it is at 80.36 usd what price did you get in on?

BTW 100 x 80.36 = 8036 I could see it bounce back to 99 soon.

about 2 mins before close of trading last night Grin

philipma1957

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'The right to privacy matters'

Quote from: raskul on November 22, 2014, 04:25:48 AM

Quote from: ?? on ??

Quote from: raskul on November 21, 2014, 05:15:43 PM

I just bought 100 barrels of brent crude.
Now, THAT is what i call investment

interesting!

my old man just yesterday told me to consider crude...

please elaborate or PM.

PM'd you mate

so it is at 80.36 usd what price did you get in on?

BTW 100 x 80.36 = 8036 I could see it bounce back to 99 soon.

xstr8guy

hero member

Activity: 784

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Glow Stick Dance!

You don't even need to learn math to know that you will never earn $200 per week with 1.7THs. Did you even bother to google "bitcoin mining calculator"? How on earth did you come up with your ridiculous number?!

Put 1.7TH (SP20 hashrate) into this calculator here... https://alloscomp.com/bitcoin/calculator and the number you get will be ~$54 per day. And that's not including the cost of electricity. AND you still need to buy a PSU to power it.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: ?? on ??

Quote from: raskul on November 21, 2014, 05:15:43 PM

I just bought 100 barrels of brent crude.
Now, THAT is what i call investment

interesting!

my old man just yesterday told me to consider crude...

please elaborate or PM.

PM'd you mate

raskul

sr. member

Activity: 434

Merit: 250

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?

strong buy - brent crude oil

you're welcome.

picolo

hero member

Activity: 1022

Merit: 500

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?

I would say bravo but try to have a balanced life Wink

Snipe85

sr. member

Activity: 756

Merit: 250

Infleum

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?

picolo

hero member

Activity: 1022

Merit: 500

Quote from: raskul on November 21, 2014, 05:15:43 PM

I just bought 100 barrels of brent crude.
Now, THAT is what i call investment

Paper oil with leverage? Or how do you stock it? Tongue

Good investment!

raskul

sr. member

Activity: 434

Merit: 250

I just bought 100 barrels of brent crude.
Now, THAT is what i call investment

picolo

hero member

Activity: 1022

Merit: 500

Quote from: notlist3d on November 21, 2014, 01:10:35 PM

Quote from: klondike_bar on November 21, 2014, 01:05:54 PM

Quote from: OrangeGator on November 20, 2014, 10:18:06 PM

LTCgear is legit. I have been with them almost 3 months now, zero issues. Get payouts weekly directly to my wallet. LTCgear does not prorate payments when you buy shares. They take a snapshot of your number of shares on Friday, and pay out based on difficulty over the week. LTCgear has been in business for over a year now, with many satisfied customers.

Quote from: ?? on ??

learn to math first.

Then check what & who you believe - pay today & get a full weeks payout tomorrow....? sounds legit

I run 11Th & its NOT enough but then im not 15 yrs old, living at home rent-free & dreaming of having pubes/sex one day.

You're really trying to sell the shit out of ltc gear aren't you?

Seriously, cloud mining is risky. Its the very definition of the perfect Pontiac scheme - where either difficulty and bitcoin price move in a way you can say 'oh, it's not profitable so contract is over as per the terms' and take any remaining profit, or to simply scamper off with the profit when you are at the peak of accepting new buyers. Watch out.

You will notice a LOT of low activity members trying to sell that company. Start looking at activity when you see it mentioned.... something is not right with it.

You have to do your own research before investing and a good advice is to diversify and invest in more than one company not to lose it all in case the company closes.

All miners are hoping the difficulty will decrease a lot so they can profit more. It may happen.

notlist3d

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Activity: 1456

Merit: 1000

Quote from: klondike_bar on November 21, 2014, 01:05:54 PM

Quote from: OrangeGator on November 20, 2014, 10:18:06 PM

LTCgear is legit. I have been with them almost 3 months now, zero issues. Get payouts weekly directly to my wallet. LTCgear does not prorate payments when you buy shares. They take a snapshot of your number of shares on Friday, and pay out based on difficulty over the week. LTCgear has been in business for over a year now, with many satisfied customers.

Quote from: ?? on ??

learn to math first.

Then check what & who you believe - pay today & get a full weeks payout tomorrow....? sounds legit

I run 11Th & its NOT enough but then im not 15 yrs old, living at home rent-free & dreaming of having pubes/sex one day.

You're really trying to sell the shit out of ltc gear aren't you?

Seriously, cloud mining is risky. Its the very definition of the perfect Pontiac scheme - where either difficulty and bitcoin price move in a way you can say 'oh, it's not profitable so contract is over as per the terms' and take any remaining profit, or to simply scamper off with the profit when you are at the peak of accepting new buyers. Watch out.

You will notice a LOT of low activity members trying to sell that company. Start looking at activity when you see it mentioned.... something is not right with it.

klondike_bar

legendary

Activity: 2128

Merit: 1005

ASIC Wannabe

Quote from: OrangeGator on November 20, 2014, 10:18:06 PM

LTCgear is legit. I have been with them almost 3 months now, zero issues. Get payouts weekly directly to my wallet. LTCgear does not prorate payments when you buy shares. They take a snapshot of your number of shares on Friday, and pay out based on difficulty over the week. LTCgear has been in business for over a year now, with many satisfied customers.

Quote from: ?? on ??

learn to math first.

Then check what & who you believe - pay today & get a full weeks payout tomorrow....? sounds legit

I run 11Th & its NOT enough but then im not 15 yrs old, living at home rent-free & dreaming of having pubes/sex one day.

You're really trying to sell the shit out of ltc gear aren't you?

Seriously, cloud mining is risky. Its the very definition of the perfect Pontiac scheme - where either difficulty and bitcoin price move in a way you can say 'oh, it's not profitable so contract is over as per the terms' and take any remaining profit, or to simply scamper off with the profit when you are at the peak of accepting new buyers. Watch out.

xhomerx10

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Activity: 3808

Merit: 7912

Quote from: ChuckBuck on November 21, 2014, 09:11:13 AM

I would highly recommend against buying any miner at the age of 15 or 16, especially one as power hungry as the SP20.

Once your Dad sees your electric bill, he's going to fucking kick your ass bruh! Shocked

Just the fact you'll have no ROI in sight for your @$1000 investment should scare you straight.

You'll make more money working at Mickey D's at the age of 16, instead of getting your hiney whipped in by big papa.

lol ...and after the ass-kicking, you WILL be getting a job!

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

I would highly recommend against buying any miner at the age of 15 or 16, especially one as power hungry as the SP20.

Once your Dad sees your electric bill, he's going to fucking kick your ass bruh! Shocked

Just the fact you'll have no ROI in sight for your @$1000 investment should scare you straight.

You'll make more money working at Mickey D's at the age of 16, instead of getting your hiney whipped in by big papa.

raskul

sr. member

Activity: 434

Merit: 250

i'm one of the lucky ones with free electric - and a very generous sparky who is going into my unit today to upgrade the phase.

yesterday I was able to run 8TH/s in that unit and tomorrow i'll be able to run twice that (fingers crossed) however, it is in no way a job and for me never will be.
Like so many others, i'm a hobbyist with an obsession which has gone slightly out of control. all the solar panels and whirly-turbines in the world wouldn't move me from being a hobbyist to a full-time miner. I am in a position where I don't need to cash out any of my BTC unless I want to, no overheads, no babysitting rigs and no 'family' troubles telling me to switch off because the electric bill was £0000's this month.

i think that you will find, pretty much as soon as you power on your $1000 miner, you are gonna regret even starting.
you are three years too late. get a job

lowbander80

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Activity: 1036

Merit: 1000

Need lots of money to be a job and first of all
Low electricity charges

pumawolf

sr. member

Activity: 968

Merit: 250

the chances are ur not gonna roi, but since ur very young and will love to be learning in this industry i assume, u should go buy something not to make money but as a good education towards ur future. learning how to mine can teach u some money management skills.

Biodom

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Activity: 3892

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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!

hone these programming skills and focus on bitcoin
https://github.com/jashmenn/bitcoin-reading-list
try to get internship in bitcoin-related company

if you want to play with a miner, get antminer S3 to play around to get a knack of it- you can buy from ebay almost new (it earns little-$50-60/mo and uses ~$30 in electricity at 0.12/kwh). If you go for four S3 miners (they can produce up to $240/mo), cheapest would be to order from Bitmain with coupons ($50 coupons can be had for very little-see marketplace).

xhomerx10

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Activity: 3808

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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!

Is this LukeJr?

OrangeGator

newbie

Activity: 37

Merit: 0

LTCgear is legit. I have been with them almost 3 months now, zero issues. Get payouts weekly directly to my wallet. LTCgear does not prorate payments when you buy shares. They take a snapshot of your number of shares on Friday, and pay out based on difficulty over the week. LTCgear has been in business for over a year now, with many satisfied customers.

Quote from: ?? on ??

learn to math first.

Then check what & who you believe - pay today & get a full weeks payout tomorrow....? sounds legit

I run 11Th & its NOT enough but then im not 15 yrs old, living at home rent-free & dreaming of having pubes/sex one day.

OrangeGator

newbie

Activity: 37

Merit: 0

Assuming you live at home, and your parents pay for electricity, I suggest you look into cloud mining. Else they will be pissed when they see the higher electric bills. With only $1000 to invest, it would be considered just a part time job / hobby. You should look at mining as a bonus to your regular life / job.

I am heavily invested with LTCgear. This is cloud mining of LTC, but you can choose to get payouts converted to BTC. You can get 182.5Mhs of LTC cloud mining for 1 year with no hosting fees for $772. This includes the 8% discount for paying in BTC. They payout every Friday. If you order tonight, you would get paid for the full week in tomorrow's payment. This would be about 29 LTC or 0.29 BTC or $100 at current prices. With a 3% difficulty factor increase, you should ROI in about 10-12 weeks at current prices. If you do decide to buy, please use my referral link. http://ltcgear.com/product/asic-share1k83/?apage=271

Good luck.

klondike_bar

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Activity: 2128

Merit: 1005

ASIC Wannabe

Quote from: Soros Shorts on November 20, 2014, 08:49:10 PM

What kind of job is that? Dust the fan of the SP20 every week? I guess I should say "fans" because at the current difficulty and exchange rate you'd need 4 x SP20s to make $200 a week.

I have about 40TH/s and for me mining is a hobby that has gone a bit out of control, but one set up I don't have to touch my miners. It is not really a job until you get up to the petahash range.

10TH here - pretty much full agreement. I make about $50/day, or ~3.7BTC in the next month - minus almost $800 in electrical bills ($0.15/kwh), so not very much profit after paying all upfront costs. At this point $1500 in electrical work, and $1200+ in networking gear, PDUs (213V), and power supplies since starting small a year ago.

if you have cheap power where you live (ie: $0.10/kwh or less, it could be worth looking into as an investment. But outside of 5-10hrs of buying, receiving, setting up, and getting it working right, there's not much more work to be done - maybe a few minutes here and there to tweak cooling or reboot - its not a job. Even with 10TH spread across 12+ machines of different brands and styles I only put in 15-30min a week tuning overclock settings or rebooting a troublesome Bitfury unit

philipma1957

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'The right to privacy matters'

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!

simple math calculator

https://bitcoinwisdom.com/bitcoin/calculator

use 4% diff jumps

use 10 cents a watt

use 2% for pool fee

use 1.7 th for hash rate

use 900 usd for cost

use 1200 watts for power

use 1 btc = 350 usd

you get this for weekly:

Soros Shorts

donator

Activity: 1617

Merit: 1012

What kind of job is that? Dust the fan of the SP20 every week? I guess I should say "fans" because at the current difficulty and exchange rate you'd need 4 x SP20s to make $200 a week.

I have about 40TH/s and for me mining is a hobby that has gone a bit out of control, but one set up I don't have to touch my miners. It is not really a job until you get up to the petahash range.

notlist3d

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Activity: 1456

Merit: 1000

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!

It will take more then that to get 200 a week. If you treat it as job do ROI with math. But doing it as job.... lots of capital needed. 1000 is hobby mining. Nothing wrong with it I love mining, just takes a lot to make a living.

sbogovac

legendary

Activity: 2744

Merit: 1193

I don't believe in denial.

Quote from: jdany on November 20, 2014, 08:32:05 PM

An SP20 will do around $50 per week.

His dad will prob. be paying electricity too...

sbogovac

legendary

Activity: 2744

Merit: 1193

I don't believe in denial.

Get a job.

jdany

hero member

Activity: 644

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Inspired

An SP20 will do around $50 per week.

BigxMac

newbie

Activity: 1

Merit: 0

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!

Topic: Bitcoin Miner as a job (Read 5583 times)