Free electricity == big advantage? | Bitcointalksearch.org

Oilacris

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Quote from: Chris! on October 27, 2016, 10:50:39 AM

Think logically about this. If you're receiving +100% ROI (so you put in $1000, you receive $2000) why would you think the university would Support you financially? If it's costing them $20,000/yr so you can make $40,000 they aren't getting any benefit to it and you'll be cut off so quickly. Hobby mining is one thing but setting up a huge farm to quit your day job is another. They won't stick with the free electricity for long at that rate.

And +100% ROI is completely unrealistic btw.

They would surely cut it out hence they would definitely notice the sudden surge of current and as you said they would not stay up long with this kind of free service hence they are not benefiting from you. Mining with free electricity is a great advantage though because roi would be achievable in no time but the problem here is how long would you able to sustain that free electricity.?

Suh

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Quote from: Dank14 on October 31, 2016, 07:08:39 AM

I wonder who gives free electricity nowadays. If you manage to get one though, don't waste your time mining bitcoins, try some altcoin instead.

I agree with this! Mine alt coins, wait for a shift up in value, exchange for BTC, repeat.

Dank14

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I wonder who gives free electricity nowadays. If you manage to get one though, don't waste your time mining bitcoins, try some altcoin instead.

lottery248

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Quote from: Chris! on October 27, 2016, 10:50:39 AM

Think logically about this. If you're receiving +100% ROI (so you put in $1000, you receive $2000) why would you think the university would Support you financially? If it's costing them $20,000/yr so you can make $40,000 they aren't getting any benefit to it and you'll be cut off so quickly. Hobby mining is one thing but setting up a huge farm to quit your day job is another. They won't stick with the free electricity for long at that rate.

And +100% ROI is completely unrealistic btw.

for sure, free electricity is also limited at this generation, and the 100%+ ROI leads me to have a suspicion of if people would simply get the free electricity to sell to earn funds without mining.

Chris!

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Think logically about this. If you're receiving +100% ROI (so you put in $1000, you receive $2000) why would you think the university would Support you financially? If it's costing them $20,000/yr so you can make $40,000 they aren't getting any benefit to it and you'll be cut off so quickly. Hobby mining is one thing but setting up a huge farm to quit your day job is another. They won't stick with the free electricity for long at that rate.

And +100% ROI is completely unrealistic btw.

Fatamorgana

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Electricity is the first factor to get profit or loss when we mining. After I analysis in my country (indonesia), If the price not more 7 cents, we will get big profit. If 8-15 we draw, but if more 16 cents we must turn off for mining. If the prices more than $800, I will turn again for mining

Betwrong

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Quote from: metalbean on October 24, 2016, 08:52:09 PM

I talked my university out of giving me free electricity, basically supporting us with free server farms which include electricity. I am in Malaysia and wants to starts mining and possibly creating a farm, a buddy of mine in China who is familiar with the mining ecosystem there says that even with cheap electricity in china (There are threads saying China's electricity's so cheap) the Roi is diminishing greatly there.

So if I can get free electricity is it still worth starting from scratch, I mean making this a full time job, and start mining?

Note: considering to give up my not-too-bad job for this

Of course free electricity is a big advantage and you will have bigger chance to start getting ROI sooner. But first you should ask you university how many kWhs they are going to give you monthly. Because they might be surprized by the numbers you need for mining. Since you are talking about full time job I guess you are going to use at least 3 miners, right?

NeuroticFish

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Quote from: metalbean on October 24, 2016, 08:52:09 PM

I talked my university out of giving me free electricity, basically supporting us with free server farms which include electricity. I am in Malaysia and wants to starts mining and possibly creating a farm, a buddy of mine in China who is familiar with the mining ecosystem there says that even with cheap electricity in china (There are threads saying China's electricity's so cheap) the Roi is diminishing greatly there.

So if I can get free electricity is it still worth starting from scratch, I mean making this a full time job, and start mining?

Note: considering to give up my not-too-bad job for this

Not counting that you will either have to mine some altcoin with that hardware, either invest your money into proper gear, your free electricity story will end at the point they'll see the huge growth in the power consumption.
So whatever you do, please start gradually and certainly don't quit your job.

unholycactus

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To put things in perspective, the amount of space you would need to make this your full time job would probably be a decent portion of your school.
They will also see a significant bump in their electricity bill and probably drop their support quickly.

notlist3d

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Quote from: metalbean on October 24, 2016, 08:52:09 PM

I talked my university out of giving me free electricity, basically supporting us with free server farms which include electricity. I am in Malaysia and wants to starts mining and possibly creating a farm, a buddy of mine in China who is familiar with the mining ecosystem there says that even with cheap electricity in china (There are threads saying China's electricity's so cheap) the Roi is diminishing greatly there.

So if I can get free electricity is it still worth starting from scratch, I mean making this a full time job, and start mining?

Note: considering to give up my not-too-bad job for this

I think it might be hard to get university to support you mining to a extent you quit "my not-too-bad job for this". Also keep in mind of space, coolling, etc. I just can't imagine a university setting you up to run a sizable farm without it being linked to teaching, or a project for something. And highly doubt they run it forever.. so again quitting that job I think is overkill.

And also China depends where but some are super cheap electricity. Just make sure on quality and uptime depending on where it is. But this is whole different topic of looking for cheap electricity vs a university paying for it.

Fredomago

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not at all considering that the mining for bitcoin is really hard and not profitable even you have free electricity those equipment that you will going to use are also expensive and the monthly or daily output is really small so for you to break even with your mining farm it will take a long time to wait and if you are not lucky your equipment can burned before you get actual profits coming from them. so better to make sure to calculate before trying to build it.

JITENDERPAR3

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ofcourse , it is much worthable for mining if you are getting free electricity .
in my opinion it is only china which mines btc through hardware miners and in other countries mining is very very less Because of less profit .
but still if you are getting the free electricity , i will suggest not to use miner , because to save the future of your country you should use it for right .
well i will wish for your mining plan to be successful .

ajareselde

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Have you gone into details with your university about just how much kwh/month you intend to use - i highly doubt it, but if they indeed do support your
idea, there's little doubt that you will reach ROI , especially with gpu farms with which you can switch algo's for more profitability at that time.

I wouldn't quit day job just like that, at first you should start small scale and work your way up, and only then you will see just how much it will work out for you.
Good luck either way, and if you ever get stuck with something, feel free to let us know,we're here to help.

xhomerx10

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Quote from: metalbean on October 24, 2016, 08:52:09 PM

I talked my university out of giving me free electricity, basically supporting us with free server farms which include electricity. I am in Malaysia and wants to starts mining and possibly creating a farm, a buddy of mine in China who is familiar with the mining ecosystem there says that even with cheap electricity in china (There are threads saying China's electricity's so cheap) the Roi is diminishing greatly there.

So if I can get free electricity is it still worth starting from scratch, I mean making this a full time job, and start mining?

Note: considering to give up my not-too-bad job for this

Are you currently employed as a janitor at the university or are you kitchen staff? Certainly you can't be a student.
Firstly, if you talked the university out of giving you free electricity, then you are not getting free electricity.
Secondly, only a fool would attempt to mine bitcoin on a server farm even with free electricity - it would simply be wasteful and unproductive.

If you are not planning to mine bitcoin, then you are in the wrong section and you should move this post. Whatever you decide to do, do not quit your job.

sicily

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How much actual energy are they willing to give to you monthly?

Try to calculate would it be enough for a mining "farm".

Theoretically, of course that it is worth it.

metalbean

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I talked my university out of giving me free electricity, basically supporting us with free server farms which include electricity. I am in Malaysia and wants to starts mining and possibly creating a farm, a buddy of mine in China who is familiar with the mining ecosystem there says that even with cheap electricity in china (There are threads saying China's electricity's so cheap) the Roi is diminishing greatly there.

So if I can get free electricity is it still worth starting from scratch, I mean making this a full time job, and start mining?

Note: considering to give up my not-too-bad job for this

Topic: Free electricity == big advantage? (Read 1397 times)