can we in Africa really successful mining bitcoin.

Kakmakr

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Quote from: shinratensei_ on September 27, 2016, 11:01:50 PM

Quote from: Supercrypt on September 27, 2016, 11:47:14 AM

Quote from: yakdivine on September 27, 2016, 10:16:47 AM

can we in Africa really successful mining bitcoin?

What are the similar advantages an African country will be having when compared to China?
African countries are known for its very hot climate, so bitcoin mining would be a big challenge as cooling process would be significantly difficult. I guess only few African countries will have the saturation levels in electricity power generations and no known data on cheaper electricity across African countries.

In Africa it's so hot..... and the temperature of an environment in Africa is not worth for mining at this time and like he are saying you will need a more of a fan for cooling your mining hardware.

There are some areas at higher altitudes, which might be suitable for mining operations. Mount Kilimanjaro, in Tanzania. It is the highest mountain in Africa, and rises approximately 4,900 m from its base to 5,895 metres above sea level. Also, Sutherland is the coldest town in South Africa, with an average yearly temperature of 11.3 °C and an average annual minimum temperature of 2.8 °C.

Lesotho located in Southern Africa is the coldest country in Africa. The Lesotho Highlands Water Project (LHWP) is an ongoing water supply project with a hydropower component.

We have done some research to see if Bitcoin mining can be profitable in Africa, and it seems as though this might just be a option, if you can find the correct location. ^smile^

quit_gambling_for_good

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I think any part in the world can mine bitcoin, as long there is electricity and provided you have a good pc.

JeffBrad12

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Quote from: yakdivine on September 28, 2016, 07:47:00 AM

Quote from: TastyChillySauce00 on September 28, 2016, 06:23:04 AM

Quote from: yakdivine on September 27, 2016, 03:46:16 PM

Chinese are doing will because they have advanced technology. One day we in Africa will develop to that level and we will become the grand master of bitcoin and other coins.

i think it's not because they're having any advanced technologies or anything else because i think their rig was the same as what people use in different countries,they're having cheap electricity that could make them optimizing their profit while in most of europe or america electricity is quite expensive

you have spoken the truth

behind of the electricity is so cheap we need for considering about the another factor can giving an impact for the mining rig like the temperature, because that is so important and will define how long your mining rig is can be alive.

a7mos

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most of Africa countries do not have a good and stable electricity networks. so here is the main problem. also mining difficulty nowadays is very high and you may not be able to get you ROI even after a year

wikenpp

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Quote from: Daffadile on September 29, 2016, 03:12:46 PM

If you going to take mining seriously then you will not have a problem with starting your mine farm in whatever country is cheapest. So simply just do that. You may need someone trusted to look after them unless you move to that country.

Yeah you have to look at the country and it's climate. The energy is very cheap in africa, but without proper cooling your miners will be dead within a day. Yes that fast, because the heat in africa without proper cooling will kill your miners. And so you must buy extra cooling equipment, which on their turn also use also extra electricity.

So my guess the best country for a consumer is china. Save money on transportation and energy, all at once.

Daffadile

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If you going to take mining seriously then you will not have a problem with starting your mine farm in whatever country is cheapest. So simply just do that. You may need someone trusted to look after them unless you move to that country.

mobnepal

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Most of the developing countries as well as africa have high electricity cost and there will be lot of security risks about getting mining device stolen. So it may not be profitable to start mining bitcoin in african country as well as in developing countries like here in Nepal.

yakdivine

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Quote from: TastyChillySauce00 on September 28, 2016, 06:23:04 AM

Quote from: yakdivine on September 27, 2016, 03:46:16 PM

Chinese are doing will because they have advanced technology. One day we in Africa will develop to that level and we will become the grand master of bitcoin and other coins.

i think it's not because they're having any advanced technologies or anything else because i think their rig was the same as what people use in different countries,they're having cheap electricity that could make them optimizing their profit while in most of europe or america electricity is quite expensive

you have spoken the truth

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Quote from: TastyChillySauce00 on September 28, 2016, 06:23:04 AM

i think it's not because they're having any advanced technologies or anything else because i think their rig was the same as what people use in different countries,they're having cheap electricity that could make them optimizing their profit while in most of europe or america electricity is quite expensive

The design and manufacture takes place in China. I think the chances are that they'll keep the latest and fastest mining rigs for themselves. Why give up an advantage?

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Quote from: yakdivine on September 27, 2016, 03:46:16 PM

Chinese are doing will because they have advanced technology. One day we in Africa will develop to that level and we will become the grand master of bitcoin and other coins.

i think it's not because they're having any advanced technologies or anything else because i think their rig was the same as what people use in different countries,they're having cheap electricity that could make them optimizing their profit while in most of europe or america electricity is quite expensive

yakdivine

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That mean those from cool temperature's country has advantage in mining bitcoin, and there have to just concentrate on electricity and bitcoin mining hardware and software. Africa from what I have learned from this treat we have spend alot in electric, cooler, mining software and hardware and security including time. Roi will be very low. For now I will concentrate my mind on rendering service for bitcoin.

Herbert2020

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Quote from: Hazir on September 27, 2016, 11:27:57 AM

1. Cheap electricity - the most important factor. I am not familiar with how expensive power is in Africa.

even if the price of electricity is high there are ways to get a cheaper electricity. like what Chinese are doing. they have special contracts with the electricity providers that makes it cheap for them.

Quote

2. Cooling - you will need some serious AC to keep your hardware from overheating. In hot environment of Africa this will be additional costs.

again one of the reasons why Chinese are mining easily is that they are running their operation in the mountains in a naturally cool environment.

Quote

3. Hardware - but I guess at this point it is not important where you are, as ASICS can be delivered anywhere.

the problem is not delivery, it can be bought and brought to Africa easily.
the problem is going to be the initial investment and the fact that it will be a lot compared to the competition (Chinese, they get special discounts directly) so ROI will be delayed.

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Quote from: Supercrypt on September 27, 2016, 11:47:14 AM

Quote from: yakdivine on September 27, 2016, 10:16:47 AM

can we in Africa really successful mining bitcoin?

What are the similar advantages an African country will be having when compared to China?
African countries are known for its very hot climate, so bitcoin mining would be a big challenge as cooling process would be significantly difficult. I guess only few African countries will have the saturation levels in electricity power generations and no known data on cheaper electricity across African countries.

In Africa it's so hot..... and the temperature of an environment in Africa is not worth for mining at this time and like he are saying you will need a more of a fan for cooling your mining hardware.

yakdivine

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Chinese are doing will because they have advanced technology. One day we in Africa will develop to that level and we will become the grand master of bitcoin and other coins.

gentlemand

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no one's going to compete with the Chinese. The combo of giveaway power in certain areas, hardware design and manufacturing plus reasonable and skilled labour is unbeatable.

Hellacopter

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Quote from: yakdivine on September 27, 2016, 10:16:47 AM

can we in Africa really successful mining bitcoin?

Its possible, but really very hard. Mining need cheap electricity and hardware and starting a mining farm , and that's need good budget usually and not available for the most African people

yakdivine

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Quote from: kanazawa on September 27, 2016, 01:44:26 PM

What most people are saying here is true. I was in many countries in Africa this years, some of them I didn't saw even the expression of Bitcoin... Buy let's talk about where it is present. For example, in Cape Town only few people there do mining bitcoins because electricity is not cheap, but in Egypt energy is very cheap and the community is pretty cool about Bitcoins. I was in Abuja, Nigeria, and it's a good place to do mining too.

I lived in Abuja Nigeria, and I think in Abuja one can mining bitcoin with just little running cost. Abuja wether is relatively cool and most time light situation is a bit ok. thank senior.

BitcoinSupremo

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It depends on the country , if it is a very hot country like Egypt for example which has almost free electricity it's good. The problem of over heating will be adjusted by adding additional cooling power. This will be no problem as the exchange rate from USD to Egypt local currency is big , so mining bitcoin there would be very profitable. The only problem is someone to be convinced of taking such a step.

In Nigeria if you have no electricity than all the investment you will make for the bitcoin mining will go in vain. Not a wise thing to do.

kanazawa

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What most people are saying here is true. I was in many countries in Africa this years, some of them I didn't saw even the expression of Bitcoin... Buy let's talk about where it is present. For example, in Cape Town only few people there do mining bitcoins because electricity is not cheap, but in Egypt energy is very cheap and the community is pretty cool about Bitcoins. I was in Abuja, Nigeria, and it's a good place to do mining too.

yakdivine

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Quote from: Barbut on September 27, 2016, 01:13:02 PM

Quote from: yakdivine on September 27, 2016, 12:39:07 PM

Quote from: Hazir on September 27, 2016, 11:27:57 AM

Quote from: yakdivine on September 27, 2016, 10:16:47 AM

can we in Africa really successful mining bitcoin?

First of all this is mining discussion. Secondly your question it a vague - Africa is large continent, where exactly you want to open a mining farm?

For successful mining you need three things:

1. Cheap electricity - the most important factor. I am not familiar with how expensive power is in Africa.
2. Cooling - you will need some serious AC to keep your hardware from overheating. In hot environment of Africa this will be additional costs.
3. Hardware - but I guess at this point it is not important where you are, as ASICS can be delivered anywhere.

thank you sir, I am from Nigeria the only major problem I no we have is electricity,outside our wether is very favourable.

Do I understand good that you don't have electricity? How do you plan to mine bitcoin then?
I think if you can fulfill this 3 steps successfully you can mine bitcoins everywhere. Cheap electricity, mining equipment and something to cool all that is necessary things, without one of this 3 things you are doomed.
Africa is really big continent, probably with some good investment there is a way for them to set up mining farm one day.

ok Sir I pray God answer your pray for us. Thank

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