Free electricity | Bitcointalksearch.org

Snipe85

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Quote from: HarryKPeters on November 07, 2015, 01:26:16 PM

Bitcoin mining is really riskful. Even if you have 'free' electricity.
F.e.

The current S7 batch 6 cost 4 BTC.

It will give you approx. 0.0323 BTC per day.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4000&p=1180.00&pc=0&pf=0.00&d=62253982449.76080000&r=25.00000000&er=390.06000000&hc=0.00

So without difficulty factors your ROI would be 123 days. This offcourse is a Utopia. When it reach you in dec 2017, you will need a min. of 5 months to get ROI.
>> This is just for your miner. Remember you have to buy a PSU too. Which will cost you an addiotional 3 weeks to get ROI.

The only way to get a decent profit would be to sell it.

Figure out what happens for people/companies who have to pay (cheap) electricty. Yes they get bulk discount.. but is it really profittable (I mean the big bucks). Nope.

You're wrong.
1. Nobody forces you to buy the newest and the most expensive miner. There are loads of cheap stuff people are throwing out due to lack of efficiency, but let's not forget that they have to pay for electricity.
2. You just said that the only way to get a decent profit is to run it for a while and then sell it, but this is your ultimate goal: TO PROFIT. It doesn't matter that you'll have to eventually sell the miner you're doing it for the money.

Royal Bank of Scotland

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If you have free electricity and can withstand the noise, then buy a cheap miner to do some tests. If you know how to operate that one, then expand slowly.

HarryKPeters

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Bitcoin mining is really riskful. Even if you have 'free' electricity.
F.e.

The current S7 batch 6 cost 4 BTC.

It will give you approx. 0.0323 BTC per day.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4000&p=1180.00&pc=0&pf=0.00&d=62253982449.76080000&r=25.00000000&er=390.06000000&hc=0.00

So without difficulty factors your ROI would be 123 days. This offcourse is a Utopia. When it reach you in dec 2017, you will need a min. of 5 months to get ROI.
>> This is just for your miner. Remember you have to buy a PSU too. Which will cost you an addiotional 3 weeks to get ROI.

The only way to get a decent profit would be to sell it.

Figure out what happens for people/companies who have to pay (cheap) electricty. Yes they get bulk discount.. but is it really profittable (I mean the big bucks). Nope.

anthonycamp

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Quote from: BitMaxz on November 07, 2015, 10:12:59 AM

Quote from: Betwrong on October 16, 2015, 02:15:41 AM

Quote from: Amph on October 16, 2015, 01:22:54 AM

it depend now how much you're willing to invest, with free electricity buying the s7 would be dull, i would recommend the best cheap miners out there, unless you have problem with space in your room

the s3 should be good enough for this

I agree because one the advantages of s7 (and why it costs so much) is the more efficient power consumption than in cheaper models. Since you have free electricity you don't need s7 for 1823 USD. You can buy something much cheaper, some old, maybe even some used miners.

Much cheaper i think is avalon 4.1 the price is around 1.3-1.6 bitcoins
Hash rate is 1.3TH/s wattage around 600-700.
Much cheaper than ant miner s7.

one of best choices i heard here

BitMaxz

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Quote from: Betwrong on October 16, 2015, 02:15:41 AM

Quote from: Amph on October 16, 2015, 01:22:54 AM

it depend now how much you're willing to invest, with free electricity buying the s7 would be dull, i would recommend the best cheap miners out there, unless you have problem with space in your room

the s3 should be good enough for this

I agree because one the advantages of s7 (and why it costs so much) is the more efficient power consumption than in cheaper models. Since you have free electricity you don't need s7 for 1823 USD. You can buy something much cheaper, some old, maybe even some used miners.

Much cheaper i think is avalon 4.1 the price is around 1.3-1.6 bitcoins
Hash rate is 1.3TH/s wattage around 600-700.
Much cheaper than ant miner s7.

notlist3d

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Quote from: traderbit on October 30, 2015, 08:22:51 AM

Quote from: Guiomar on October 29, 2015, 01:13:01 PM

Be careful with "free electricity" someone has to pay for it. That someone might be very unhappy if they find out that the usage multiplied.

Since it is free why not experiment with the mining rigs.
To see if it worth mining or not, as long as you have the free electricity.
There is a reason for this, maybe the electricity is very cheap to be produced in that location or maybe only for students?

It depends on how you get the "free" electricity. Most student locations I lived in with "free" electricity it was limited due to not giving a ton of electricity to apartment or dorm room. Also in both I really did not want to mine in my bedroom. So i put them elsewhere and paid for electricity.

If it is included in rent sure go for it. Just don't go crazy on amount. Speaking as someone who pays electricity if you go big it makes a pretty large electricity bill, you landlord will not be happy if you add 10k watts worth of gear. So moderation is key. And if it is mom/day paying it honestly talk to them before mining.

traderbit

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Quote from: Guiomar on October 29, 2015, 01:13:01 PM

Be careful with "free electricity" someone has to pay for it. That someone might be very unhappy if they find out that the usage multiplied.

Since it is free why not experiment with the mining rigs.
To see if it worth mining or not, as long as you have the free electricity.
There is a reason for this, maybe the electricity is very cheap to be produced in that location or maybe only for students?

YuginKadoya

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Quote from: Guiomar on October 29, 2015, 01:13:01 PM

Be careful with "free electricity" someone has to pay for it. That someone might be very unhappy if they find out that the usage multiplied.

If they found out! I think if it is an apartment type then you have a free internet then it's a big yes that your land lord will found out about it, but there is free internet like solar, wind, and hydro powered electricity that provide free electricity,

Guiomar

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Be careful with "free electricity" someone has to pay for it. That someone might be very unhappy if they find out that the usage multiplied.

YuginKadoya

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Quote from: DL1MP1K on October 15, 2015, 08:17:05 AM

Hello

I know a bit about bitcoin
I have free electricity. So is it worth mining ? if yes how should I start ?
Thank you

Free Electricity that is sweet, and I think you can profit and start with your budget, think of a machine that will work for you most like an antminer series, if you know how to mod then you will never ever have problem with the noise, the cooling process is a bit tricky one and there are many you can choose from so goodluck and have fun in your ROI

notlist3d

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Quote from: zodiac3011 on October 27, 2015, 07:20:41 PM

Free electricity is one thing. Others you should consider is: budget, noise and heat. Antminer is always a star to shine. Antminer S5 will be the best option you got but the noise is huge so you will need some mod for it

I just had a look I think we can let this thread die OP last login: Last Active: October 16, 2015, 03:00:45 PM So chances are he will not be reading anything put in here.... so really serves no purpose.

With "free" electricity yes you can make money. Its pretty simple on ROI.

zodiac3011

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Free electricity is one thing. Others you should consider is: budget, noise and heat. Antminer is always a star to shine. Antminer S5 will be the best option you got but the noise is huge so you will need some mod for it

notlist3d

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Quote from: CoinSkipper on October 25, 2015, 03:06:50 AM

AntMiner all the way. They're (relatively) silent and can pump out a good hash rate.

This is not true on many Bitmain miners. Some run hot and loud by default. Silent is not something many of them are called.

If OP tells us a certain one some are more quiet then others but as general rule S4, S5, S7 I would not consider quiet by any means.

CoinSkipper

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AntMiner all the way. They're (relatively) silent and can pump out a good hash rate.

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Quote from: DL1MP1K on October 15, 2015, 08:17:05 AM

Hello

I know a bit about bitcoin
I have free electricity. So is it worth mining ? if yes how should I start ?
Thank you

free power = faster return on investment.

An s-3 doing 480 gh at free power earns close to 30 usd a month.

So if you buy 2 you earn close to 60 usd a month. coins are up so they cost more then last month

the cheapest I see on on ebay is 110 with shipping

so 2 plus a power supply = about 300

and you would have your money back in 5 months.

anthonycamp

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you probably need also better explanations into this software hardware mining and the rates (GHS) and the return of investment (usually 300 days) you can check this with the most older useres here but do not pm try to chack them posts here
but it all depends on the GHS/Dollar and the days to return investment a deprecation of miners.
do also check net

mtnsaa

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Also you can look into mining altcoins that are easier on your hardware and then buy Bitcoin with that on a exchange. There's a list with the most current profitable altcoins to mine that is updated every day.

mtnsaa

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I mean you have free electricity, you can invest in expensive hardware but you can also use some old machines and everything you get will be profit. Really, it you can buy or get some obsolete PCs (anything you can plug in basically) you will still get some good bits per day I guess right? You will also need some space though.

Ninjahitoko

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Well, he has free electricity so he would break even quickly.

Rude Boy

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Quote from: Ninjahitoko on October 16, 2015, 01:04:51 PM

If you have free electricity, you have nothing to lose lol.
Mining is definitely worth it!!
START MINING!

Nope, buying miners will cost and if OP tried to directly mine bitcoin with low GHs, OP have to wait at least some years Grin

Ninjahitoko

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If you have free electricity, you have nothing to lose lol.
Mining is definitely worth it!!
START MINING!

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Quote from: adaseb on October 15, 2015, 08:18:17 AM

Step 1) Buy a bitcoin miner

and look someone to watch over your mines while in operation, you cant just be a 1 man army and stay awake 24/7

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Quote from: DL1MP1K on October 15, 2015, 08:17:05 AM

Hello

I know a bit about bitcoin
I have free electricity. So is it worth mining ? if yes how should I start ?
Thank you

if i had free electricity, i will not have any doubt, i will invest in hardware and try to made a faster ROI, ofc you will need the money to buy the hardware equipment but... it should be compensated soon Wink

do not doubt man, you are one of the lucky guys who still can have good profit with bitcoin+hardware in a small scale.

notlist3d

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Quote from: Betwrong on October 16, 2015, 02:15:41 AM

Quote from: Amph on October 16, 2015, 01:22:54 AM

it depend now how much you're willing to invest, with free electricity buying the s7 would be dull, i would recommend the best cheap miners out there, unless you have problem with space in your room

the s3 should be good enough for this

I agree because one the advantages of s7 (and why it costs so much) is the more efficient power consumption than in cheaper models. Since you have free electricity you don't need s7 for 1823 USD. You can buy something much cheaper, some old, maybe even some used miners.

If I had free electricity short term I would look at S3's. If you know it's sold set up more longterm then I would go more for S5's or equivalent of other makers.

Kinda half the point of free electricity if you don't need the most efficient gear. So wait quite a while before going S7.

Betwrong

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Quote from: Amph on October 16, 2015, 01:22:54 AM

it depend now how much you're willing to invest, with free electricity buying the s7 would be dull, i would recommend the best cheap miners out there, unless you have problem with space in your room

the s3 should be good enough for this

I agree because one the advantages of s7 (and why it costs so much) is the more efficient power consumption than in cheaper models. Since you have free electricity you don't need s7 for 1823 USD. You can buy something much cheaper, some old, maybe even some used miners.

flikflak

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Step 0.5) Check your breakers first, to figure out the amps - having a clue on how much power your miner is allowed to draw is quite good before buying one or a bunch of them (like a S5+ beast).

Amph

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it depend now how much you're willing to invest, with free electricity buying the s7 would be dull, i would recommend the best cheap miners out there, unless you have problem with space in your room

the s3 should be good enough for this

dance191

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Quote from: adaseb on October 15, 2015, 08:18:17 AM

Step 1) Buy a bitcoin miner

Step 3) Profit

notlist3d

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Quote from: DoubleMyBitcoins on October 15, 2015, 01:36:41 PM

wow congrats on free electricity! to what extent do you have that??

I personally always assume apartments and it usually is right around that or middle eastern nations where it is covered by the nation .

Actually US has some just few and far between. If you are not paying for electriciity a renter would normally be more likely to use electricity then if they were paying for it.

Also student housing a lot pay electricity where there is a max (my last one was 25 dollars extra per person max). But it was quite pricey as far as apartments go for regular rental fees.

DoubleMyBitcoins

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wow congrats on free electricity! to what extent do you have that??

Sixt5

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im in the same boat as electricity. if you can deal with the noise and heat then youre golden. im going to do the work for ya since im feeling nice. antminer s3 and the spondoolies sp30 are the best bang for the buck through ebay. your ideal purchase will be cost of the machine / how fast it works.

bad things about these machines:
antminer s3: you need multiple of them to get some speed. i have 9.....
sp30: this sucker is LOUD and puts off some major heat. one will do 4.2ths on 110v.
i have an s5 as well but only cause i got it at a deal. also noisey.

bitcoinblog

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Small miners will not going to give you anything.

And big Hash miners will cost you. Still if you want to mine then go for something over 100 THS if Bitcoin or more then 100MHS if scrypt.

adaseb

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Step 1) Buy a bitcoin miner

DL1MP1K

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Hello

I know a bit about bitcoin
I have free electricity. So is it worth mining ? if yes how should I start ?
Thank you

Topic: Free electricity (Read 2626 times)