I don't believe much in cloud mining. If they can purchase the hardware and host it, how would they not make more money just mining for themselves than selling it to buyers to make a profit? If it looks too good to be true, it likely is. Look at Hashnest (Bitmain's cloudmining service), profits are VERY slim and that's for a reason. If a manufacturer like Bitmain doesn't see a business model in giving hash power away for cheap enough to make out very well with, how could anyone else? Most of them are ponzi's, and should be steered well clear of.
Hashnest is the golden standard for cloud mining, and IMO should be the only one considered. Weigh your options on there vs buying equipment yourself and either mining at home or finding a cheap hosting facility if your country's imports are taxed heavily.
Topic: Cheap power in Argentina (Read 1173 times)
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
Check out coinwarz
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
Their calculators is one of the best.
Personally I would recommend to split your investment.
50% on Antminers or Spondoolies and
50% on Hashnest (cloud mining).
Then after 2/3 months compare your income/ vs investment made. Remember if you have got free electricity.
Cloud mining gear eventually will be worthless.
Owned asics will hold their value and your revenue stream much longer. However you have the hassle to put some monitoring on your miners etc. Benig in argentina your investment in proper cooling will cost you too.
Just beware if government want to take your stuff for the "greater good"
Actually, there are no laws regulating bitcoin in Argentina. It is perfectly legal to mine, buy, sell, or trade BTC.
We are not a communist country, and from the way it looks, it is going to stay that way. It is in the U.S. that bitcoin traders have to worry. The U.S. is scared of Bitcoin and they will regulate it soon more than likely. People have already been charged for trading in bitcoin without a license in FL. CA requires a license now and other states want to start regulating it.
Some regulation is not a bad thing. It means the government has some acceptance of it. It's if a country goes after or ban's that is really bad.
If you are huge on LBC and trading in person.. yes you might get a money laundering charge. They normally hold this for bigger operations though like when Charlie Shrim got his felony. But exchanges are able to work in most states they just have to follow regulations.
Just beware if government want to take your stuff for the "greater good"
Actually, there are no laws regulating bitcoin in Argentina. It is perfectly legal to mine, buy, sell, or trade BTC.
We are not a communist country, and from the way it looks, it is going to stay that way. It is in the U.S. that bitcoin traders have to worry. The U.S. is scared of Bitcoin and they will regulate it soon more than likely. People have already been charged for trading in bitcoin without a license in FL. CA requires a license now and other states want to start regulating it.
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
I would not plan on that it's not a good businesses practice to dodge laws. If you buy new most likely it will come with correct amount and you will owe import/vat.
If op has them we need to know how much. And we still need to know electricity price.
Well, I have a traverler coming in December, who is a U.S. Citizen. I am not concerned too much about the laws as Argentine Customs does not bother U.S. Citizens that much. It´s their own that they scrutinize the most. I am not certain on the laws here. I was told by a lot of travelers that one electronic item is O.K, as long as it´s not for resale. It´s when you start bringing in multiple items that they want to start taxing you.
As far as the cost of electricity down here exactly, I am not sure. I know it is cheap compared to other countries. I think somewhere around $0.03 per kwh. When I get my hands on a bill I will post it. Again the place I am moving into, electric is free. Might as well mine.
I knew energy price in argentina was cheap but I thought it was something more like $0.06. I was looking towards doing something on neighbour venezuela but argentina seems closer and more stable.
Just beware if government want to take your stuff for the "greater good"
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
I would not plan on that it's not a good businesses practice to dodge laws. If you buy new most likely it will come with correct amount and you will owe import/vat.
If op has them we need to know how much. And we still need to know electricity price.
Well, I have a traverler coming in December, who is a U.S. Citizen. I am not concerned too much about the laws as Argentine Customs does not bother U.S. Citizens that much. It´s their own that they scrutinize the most. I am not certain on the laws here. I was told by a lot of travelers that one electronic item is O.K, as long as it´s not for resale. It´s when you start bringing in multiple items that they want to start taxing you.
As far as the cost of electricity down here exactly, I am not sure. I know it is cheap compared to other countries. I think somewhere around $0.03 per kwh. When I get my hands on a bill I will post it. Again the place I am moving into, electric is free. Might as well mine.
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
If you have free electricity I would get miners and set them up assuming you don't have a big import/vat tax. Free electricity is hard to beat.
As far as online be careful on what site you go with do some research. Looked like a possible shill account posting above me. But look into cloud mining before throwing money at a site. Some are not a good investment.
Yes, that is what I am thinking. At home mining with free electricity is the way to go. Might as well get something out of it since I will be paying rent.
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
I would not plan on that it's not a good businesses practice to dodge laws. If you buy new most likely it will come with correct amount and you will owe import/vat.
If op has them we need to know how much. And we still need to know electricity price.
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
If you have free electricity I would get miners and set them up assuming you don't have a big import/vat tax. Free electricity is hard to beat.
As far as online be careful on what site you go with do some research. Looked like a possible shill account posting above me. But look into cloud mining before throwing money at a site. Some are not a good investment.
I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
According to www.cloudmining.website/calculator.php, it would take ~5 Ths to mine 1 BTC per month at current difficulty.I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
It is called Cloud Mining. At www.cloudmining.website 5 Ths will cost you 5 BTC. So, it would take ~5 months for you to ROI at current difficulty. I am moving into a place in Buenos Aires, Argentina where power will be free. Power is cheap here anyhow. How much mining power do I need approximately to generate 1 btc a month?
I heard another way of mining is to actually buy mining power on line. You don´t have to worry about any equipment breaking down. Is there a tutorial on mining and how to perform all the necessary calculations? What about a excel spreadsheet?
What are your thoughts?
Jump to: