Topic: Correct me if I am wrong here (Read 924 times)

Sorry for the late reply and thanks for anyone that replied.

There is 3 things I have to elaborate on.
I am currently living in the Netherlands but am originally from Kurdistan ( KRG, Northern Irak) I can understand that this location sounds scary to some of you. The city I am from is safe. I am there once or 2 times a year. The region is autonomous and ruled by the PDK. Oil is the main income , because of this they provide their citizens with electricity from 1ct to highest 4 cr per kWh. He more you use, the more you pay. I have more than one location to use ( parents property and family) of which one warehouse with 400 amp 3 fase electricity used as cooling warehouse. The rent payed is 300 usd, I would be fine with using this for mining.

New hardware would require me to get investment partners. Thy are not into Bitcoin as much as we are. Explaining them everything is hard , I did succeed but would like someone with more expertise to work with. I have for 6 months placed second hand miners in one of my locations, which is at the back of a shop that is rented by a family member. For 5 miners using about 1100 watt per, and 2 aircondiotoningd using 2500 watt per, plus everything used in the shop itself, I payed 350 usd lectricity Per 4 months.

Anyone that is interested , I have filmed it and also films the location. I have prove of electricity prices and am an universiy economic student that loves to be involved in Bitcoin. Don't hesitate to question me.

Edit: the VAT issue; KRG customs are in the hands of family members. Transport from the Netherlands is easy and very cheap. VAT is 5 euro per computer.

Regards ,

Zekar Salih

2 cent power is a dream that will never happen for me. I live in South Carolina with cheap energy by the coast, 0.10$/kw to be exact. At 2 cent power, you can afford to buy miners like S5s and still make a profit (I think.). Those things are being sold pretty heavy on amazon and ebay, and with 2 cent elec... DAMN! THE PROFITS... OVER 9000!

If someone has 2 cent electricity I don't understand why they would want someone to relocate.  Maybe I'm greedy but if I paid 2 cent's I would own the gear and make more profit.  At 2 cent it's a no brainier.

I do agree on questioning some numbers such as VAT on most of EU it pretty big deal.  Which leads me to think 2 cent number might not be locked down.  Also location does not mention huge warehouse lots of power.  Or a apartment with small amount.

You VAT can not be less as 140USD (17%)  per miner.
This is the lowest VAT in EU , but not Dutch VAT.

I can sell you some S7 , if the price is right. Left 40 x S7

Or maybe relocate - yes. But then I have to come in person. I do not believe so cheap electricity.

But how much electricity?   Location does not tell us how big you really will be.  You really can't count on people to send you gear, or even relocate.

You will have to invest in gear most likely.   How bad is the VAT? Most of the EU is really is hard on getting gear normally it's high by the time you import it the extra cost kills a lot of deals.

If you truly have 2 cent electricity you should do pretty good though.   You have lot's of options but I don't think any miner will be cheap with being in EU.  

keep watching this thread

https://bitcointalksearch.org/topic/community-miner-design-discussion-1368507


is the best way i can answer your question and it is still worth it just wait and save at this point .

do what he says buy S3 S5 I'll  add to it Avalon 4.1 or SPe20s they all can be clocked down nicely and make something till at least July with or with out high Electricity cost, i guess costs up to  10 cents or so till July.


cya

You have 0.02$/kWh? You should have no problem reaching ROI at all, whatsoever.

The "latest" mining hardware is never the best deal when you have cheap electricity. You have to go for the "outdated hardware". At the moment people are dumping S3/S5's. Thats what you should be buying.

First of all, thank you for your time,
I wonder about the mining opportunity that is left.
Did we not allready lose Bitcoin ?

For some time I am really interested in Bitcoin , I have found mining opportunity to mine at 2 ct. Electricity. Location rent is free. All I need is hardware. I have tried buying second hand miners on the Dutch market. It is very limited and full of outdated hardware. New hardware seems to be made to have impossible ROI. This is my calculation for S7 as an example, the S7 is for now the best hardware I have found online.

Unit (820usd) + decent PSU (100 usd) + shipping/vat. (100 usd)   = 1020 usd

Current monthly revenue is 160 usd per month
If we take the halting into account in 5 months and the difficulty increase, just see for your self if there
Is any reason to mine.
Is there any miners that want to sell of their btc farm? Or maybe relocate? I really want to use the oppirtunity I have.
I want to wait for the 16nm , I am just sure that they will be overpriced.