FREE electrical power available - but no knowledge of bitcoins

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Quote from: Thylacine on January 25, 2015, 06:20:49 PM

Will your "special arrangement" of free electricity still exist after the first month's bill comes in and the company/person paying sees how much you're drawing from the socket?

It may I have received a deal for 2.4 cents a kwatt since july. the catch was only 700 to 1000 watts max. I have run 2 s-3's since july no issues.

Thylacine

member

Activity: 115

Merit: 10

Will your "special arrangement" of free electricity still exist after the first month's bill comes in and the company/person paying sees how much you're drawing from the socket?

crazyearner

legendary

Activity: 1820

Merit: 1001

If your wanting to get into mining and without much cost go lookup Burstcoin Hard drive mining totally different concept to how bitcoin is generated and seems to be taking off pretty good since start has had steady price progress and plenty of development since it started.

https://bitcointalksearch.org/topic/annburst-burst-efficient-hdd-mining-new-123-fork-block-92000-731923

If you got no budget or idea of what your going to chuck into it. At least can buy hard drive been cheap and learn about Burst and not use much energy at all as where even if you got free energy and considering mining BTC you will need at least 30 to 40TH of power to generate a good amount of coin.

Bit-Broker

newbie

Activity: 7

Merit: 0

@adaseb

Thx for the information. Doesn't sound too scary for me. As with all currencies, its always a bit of a risk.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: Bit-Broker on January 24, 2015, 12:42:36 AM

@adaseb Interesting. Thanks for the suggestion. I am just thinking: If I invest my 10K KWD (US$ 36.000) now into 100 pcs of cheap, new miners with about 1.4 Th/s and just let them run continuously , even if the BTC drops further, I'll have the advantage of less competition, right? The way I understand the process is, that the less people mine, the higher the chances for everyone. I don't pay for power or AC, so what is there much to loose?

You can buy a 1Th/s miner for about $150-200 right now. But you also might need to spend $75-150 on a PSU.

1Th/s only makes $2.50 per day. So it will take 80 days to get ROI for the miner. It might be another 30-40 days just to pay for the ROI.

So if price drops within the next 120 days, you will lose money or take longer to get ROI. The miner will be almost worthless but PSU might be worth 50% on eBay.

If price stays the same, after 120 days, you finally start making money.

If price goes up, you will pay for the miners quicker and make money sooner.

There will always be risk. Anybody that bought BTC or mining equipment in 2014 after Feb or March, is sitting at a loss.

ezeminer

legendary

Activity: 2212

Merit: 1118

Lie down. Have a cookie

Quote from: adaseb on January 23, 2015, 11:12:21 PM

I am in the EXACT scenario are YOURSELF.

I have free electricity but I don't want to RISK any money buying miners that will NEVER get an ROI.

Your best option is to buy USED miners from the classifieds or from this forum from people who can no longer afford to run them.

You are pretty much looking at the old KNC Miners, S1, etc. These miners are VERY bad on efficiency but for yourself it doesn't matter. And they are DIRT cheap.

If you buy something new, it costs more and you are at risk of losing money. Looking at the chart, looks like BTC might go to $150 sometime this month or next.

If BTC drops to $150 again expect tons of buyers.... and if you have btc hold out so that you aren't a contributing factor to the market drops

Bit-Broker

newbie

Activity: 7

Merit: 0

@adaseb Interesting. Thanks for the suggestion. I am just thinking: If I invest my 10K KWD (US$ 36.000) now into 100 pcs of cheap, new miners with about 1.4 Th/s and just let them run continuously , even if the BTC drops further, I'll have the advantage of less competition, right? The way I understand the process is, that the less people mine, the higher the chances for everyone. I don't pay for power or AC, so what is there much to loose?

adaseb

legendary

Activity: 3808

Merit: 1723

I am in the EXACT scenario are YOURSELF.

I have free electricity but I don't want to RISK any money buying miners that will NEVER get an ROI.

Your best option is to buy USED miners from the classifieds or from this forum from people who can no longer afford to run them.

You are pretty much looking at the old KNC Miners, S1, etc. These miners are VERY bad on efficiency but for yourself it doesn't matter. And they are DIRT cheap.

If you buy something new, it costs more and you are at risk of losing money. Looking at the chart, looks like BTC might go to $150 sometime this month or next.

bones

sr. member

Activity: 248

Merit: 250

With free electric, I dont think you would find a better deal than this at present.
Need to move fast though, but it is a really good deal in my opinion @ $69 for 1.4 terahash !

Round One of Block Erupter Prisma2.0 Auction has begun.

Auction Rules
starting unit price: 0.3BTC
minimum unit price bidding increase: 0.01BTC
minimum quantity: 20
total quantity: 200
ending time: 08:00:00 AM January 25, 2015

To bid, please reply in this post:
https://bitcointalksearch.org/topic/m.10233572

edited - spelling

seoincorporation

legendary

Activity: 3346

Merit: 3130

Quote from: Bit-Broker on January 23, 2015, 08:55:24 AM

Hello

I live in Kuwait in the Middle East. Electrical power in my country is among the cheapest in the world. I addition to this fact, I have access to up to 1 MW monthly for free due to a special arrangement. I also have about 2.000 m2 air-conditioned space available.
Unfortunately I do not have any knowledge of Bitcoins. I only heard that the cost for electrical power seems to be the most important factor if one wants to mine them economically.
Here my question: would it make sense to install computers here in Kuwait order to mine Bitcoins? If so, what profit can be expected?

Regards
Khaled

In my country we got FREE electrical power too:

ASICSPACE

full member

Activity: 121

Merit: 100

Feel free to contact me via email, skype or phone!

Quote from: Bit-Broker on January 23, 2015, 02:05:15 PM

@ASICSPACE No PDU yet. The available space is ~ 2000m2 fully air-conditioned. Should be enough cooling power for a few hundred units.

Honestly, I'd have to see the space, but I doubt you'd be able to fit much more than 200 kw in that space without additional cooling.
If you're going to use your MW you will need a cooling solution.

If you need some advice or consulting catch me on skype at: robertvankirk. I have extensive experience in the mine design and cost cutting.

spazzdla

legendary

Activity: 1722

Merit: 1000

Quote from: Sakarias-Corporation on January 23, 2015, 01:55:16 PM

no no, don't listen to ANYONE. Buy S1s they are CHEAP! you can get 2 TH/S for 0.9 BTC. go for that !

If power is free, THIS IS THE BEST IDEA.

Kijiji is the way to go for this.

Bit-Broker

newbie

Activity: 7

Merit: 0

@ASICSPACE No PDU yet. The available space is ~ 2000m2 fully air-conditioned. Should be enough cooling power for a few hundred units.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

no no, don't listen to ANYONE. Buy S1s they are CHEAP! you can get 2 TH/S for 0.9 BTC. go for that !

Bit-Broker

newbie

Activity: 7

Merit: 0

@ChuckBuck Thanks a bunch. I am checking different sites already to get more into this matter. I found this here: https://coinplorer.com/Hardware
Maybe I am a bit blunt, but can I just order 100 pcs of the PRISMA SHA256 from ASICMiner (China)? They claim its about US$ 302. So I'll be around US$ 35.000 with all the rest of the equipment maybe?
Financed over 36 month its about US$ 1100/month. Power is free. Still no way to break even ever? Why would anyone still mine BTC?

ASICSPACE

full member

Activity: 121

Merit: 100

Feel free to contact me via email, skype or phone!

Quote from: Bit-Broker on January 23, 2015, 12:45:04 PM

OK. Once again: I am really new to this. Let's say I would invest about 10K KWD (US$ 36.000) in equipment. Power and air-condition is free. If the machines would run day and night. Is there a way to calculate when I break even (Assuming the worth of a BTC would stay at today's value)? Can the profit be guaranteed?

Do you have electrical distribution to PDUs or outlets? How many tons of AC do you have?

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Best calculator by far:

https://bitcoinwisdom.com/bitcoin/calculator

If you have $36,000 to throw at equipment, this is by far the best you'll do:

http://www.spondoolies-tech.com/products/sp35-yukon-power-shipping-from-stock

That buys you about 16 of the SP-35's.

Unless difficulty plateaus forever, you'll most likely not break even, even with free electricity.

Just buy the 154 BTC. It's at a discount price right now. Cool

Bit-Broker

newbie

Activity: 7

Merit: 0

OK. Once again: I am really new to this. Let's say I would invest about 10K KWD (US$ 36.000) in equipment. Power and air-condition is free. If the machines would run day and night. Is there a way to calculate when I break even (Assuming the worth of a BTC would stay at today's value)? Can the profit be guaranteed?

Amph

legendary

Activity: 3248

Merit: 1070

without a budget you can't nothing sry

with free power you might try antminer s3 to start

Bit-Broker

newbie

Activity: 7

Merit: 0

Don't have a budget. Neither knowledge Sad

Would it make sense at all? The news says that many stop mining because its not economical anymore. But if power is free, it should still make sense, right?

Medow

sr. member

Activity: 357

Merit: 250

Hello Khaled:

Would you PM me for estimated budget you have to inter bitcoin business?

I can help you with some more info.

You can PM me in arabic .

Bit-Broker

newbie

Activity: 7

Merit: 0

Hello

I live in Kuwait in the Middle East. Electrical power in my country is among the cheapest in the world. I addition to this fact, I have access to up to 1 MW monthly for free due to a special arrangement. I also have about 2.000 m2 air-conditioned space available.
Unfortunately I do not have any knowledge of Bitcoins. I only heard that the cost for electrical power seems to be the most important factor if one wants to mine them economically.
Here my question: would it make sense to install computers here in Kuwait order to mine Bitcoins? If so, what profit can be expected?

Regards
Khaled

Topic: FREE electrical power available - but no knowledge of bitcoins (Read 2056 times)