Got ROI in 40 days with my Antminer S3+ - page 2.

sbogovac

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Quote from: ?? on ??

Quote from: dogie on March 03, 2015, 09:53:13 AM

[...] Heating by mining is only less efficient when you have gas central heating, and even then it just sets your mining electricity equivalent rates as elec - gas cost.

Any idea on a comparison to standard electric home heating system?

That comparison would be easy if we had numbers/measurements on the heat production of an S3, but...

Quote from: sbogovac on March 03, 2015, 09:56:23 AM

Quote from: dogie on March 03, 2015, 09:53:13 AM

[...] Heating by mining is only less efficient when you have gas central heating, and even then it just sets your mining electricity equivalent rates as elec - gas cost.

[...]Heat is only a byproduct from mining so by definition is always less efficient than using dedicated heating devices.[...]

sbogovac

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Thanks for the clarification adaseb. Great/sweet deal!!!

Just one tip: check your lease (if there is one, or Canadian jurisprudence on the matter). There are often clauses (or previous rulings) that determine some kind of "fair use" policy. If the owner / rent agency considers there has been used too much electricity they might be able to charge you for it... That would not be a pleasant surprise.

Sorry for dragging this out, that was not my intention, but some people just insisted to keep reacting instead of awaiting your - quite plausible (same here BTW; my all-in-rented-office is also heated by several S3's) - explanation!

Thanks and good luck!!! Cool

adaseb

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My electricity technically isn't free, its more like a fixed cost thats included with my other utilities, whether I use 1kwh or 1000kwh it all costs the same. And yes in the winter typically in old buildings many have to use electricity to heat their apartments because insulation is very bad and the built-in heaters don't work very well.

In my area many old buildings are like this probably because we have the cheapest electricity rates in north america.

My buddy is a student at the university and he gets free electricity at his dorm. My IT friend gets free electricity with his lease at work. So I have no idea why everybody is upset because I have the advantage of " free electricity".

The point of this thread wasn't to brag but to show that its actually possible to make money with mining. Even if I had to pay for electricity I would of got ROI soon anyways.

I would never be mining if 75% of my mining revenue went straight to pay my power bill, it just doesn't make sense. I would rather sell the miners and buy BTC directly.

sbogovac

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I don't believe in denial.

Quote from: dogie on March 03, 2015, 09:53:13 AM

[...] Heating by mining is only less efficient when you have gas central heating, and even then it just sets your mining electricity equivalent rates as elec - gas cost.

I expected more from you Dogie, even though you do represent Bitmain you should know better: Heat is only a byproduct from mining so by definition is always less efficient than using dedicated heating devices. Leaving those calculations out of your considerations is stupid at best and misleading at worst...

sbogovac

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Quote from: ?? on ??

[...]100% agreed. Some people should get a sleep, then see the life is more beautiful than proving a point.

Not about any "point". It's simply misleading - to both yourself and especially to others - considering it "free" electricity.

dogie

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Quote from: sbogovac on March 03, 2015, 01:54:39 AM

Quote from: Bananana on March 03, 2015, 01:38:20 AM

Quote from: notlist3d on March 03, 2015, 12:12:11 AM

Quote from: neegeeboo on March 02, 2015, 11:12:51 PM

Just curious, how much on avg do Canadians pay for electricity?

Also curious how are you getting "free" electricity.

Its winter, so its consider free electricity cause you need the heat.

No such thing, even when using the heat. Heating on electricity by mining is still less efficient then dedicated heating devices (especially when they use other energy sources than electricity...)

PS I'm guessing OP meant his parents, some institute, an office, his work or a squat or who-/whatever else is stuck with the electric bill (still not free...).

Heating by mining is only less efficient when you have gas central heating, and even then it just sets your mining electricity equivalent rates as elec - gas cost.

sbogovac

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I don't believe in denial.

Quote from: Salomon12 on March 03, 2015, 09:09:24 AM

sbogovac, sorry if you think I'm mislead. Knowing OP's initial free would be nice to clarify and quench both your hard hand on answers as well insight the rest. Yes there is the initial investment for "solar" power panels (etc) but once purchased its done, no turning back.

However in my case, as the power is not paid by me then I consider it free. With a dedicated room for equipment testing and tinkering then what else can a enthusiast want.

No problem there, as long as the one who invested in the solar panels is aware (especially because of the accelerated break down - of the batteries especially) and it is not "done" there are still maintenance fees (unless the owner chooses not to maintain them, which would be a pity because of diminished generation of electricity and more rapid write off thus higher costs).

You can consider it free, but it is not free... ever. (And it's misleading to others.)

Salomon12

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sbogovac, sorry if you think I'm mislead. Knowing OP's initial free would be nice to clarify and quench both your hard hand on answers as well insight the rest. Yes there is the initial investment for "solar" power panels (etc) but once purchased its done, no turning back.

However in my case, as the power is not paid by me then I consider it free. With a dedicated room for equipment testing and tinkering then what else can a enthusiast want.

sbogovac

legendary

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I don't believe in denial.

Quote from: Salomon12 on March 03, 2015, 07:13:37 AM

[...] free power as in solar? [...]

And here's the next mislead soul... No such thing as "free electricity"... Please read...

Quote from: sbogovac on March 03, 2015, 06:47:36 AM

Quote from: NeuroticFish on March 03, 2015, 06:42:50 AM

[...]
But what if his dad built a small water / wind "mill" in the backyard and that produces the power?[...]

Even a water/wind mill or solar panels have costs; the building costs (both material as well as time/effort) and operating costs (maintenance et cetera) have to be taken into account...[...]

sbogovac

legendary

Activity: 2744

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I don't believe in denial.

Quote from: mavericklm on March 03, 2015, 07:08:52 AM

[...]If you have a story behind all this crap of yours, why don't you make your own thread?!?!
is it nice to crap in his thread? do you know his story to shove shit on our throats?

play nice Wink

Because it is misleading. Just a few examples:

a. it gives others a wrong impression; providing them with motivation to do the same on wrong assumptions...

b. he could be having ulterior motives; for instance he is selling Antminer's himself and trying to mislead people into believing this...

c. he could be plain stupid, not understanding some basic economics and therefore needs correction as this is a public thread, remember?

Further more: where is your prove of me "crapping" anywhere? Have I been purposefully hurtful? Off-topic? Told things that are untrue? Whatever dude...

Salomon12

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adaseb - thanks for the information. interesting to know that you made back your initial investment which isn't a bad idea. if you don't mind me asking, free power as in solar?

I am also in the market looking for used equipment and would like to go this route as I do have free power from testing equipment at our office with Air Conditioned cage for equipment...

coinpr0n

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Quote from: Bananana on March 03, 2015, 01:38:20 AM

Quote from: notlist3d on March 03, 2015, 12:12:11 AM

Quote from: neegeeboo on March 02, 2015, 11:12:51 PM

Just curious, how much on avg do Canadians pay for electricity?

Also curious how are you getting "free" electricity.

Its winter, so its consider free electricity cause you need the heat.

Ftw. Wow, nice country, nice people and a friendly government (or are these privately owned electric companies). Anyway, ROI in just over a month is great. It's all fun and games now.

mavericklm

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Quote from: sbogovac on March 03, 2015, 07:05:49 AM

Quote from: mavericklm on March 03, 2015, 07:02:41 AM

[...] oh yeah! he said that he steals the energy from your house!

Does it matter who is the victim? Undecided

EDIT: nevermind, rhetorical question. What matters: no such thing as free electricity.

If you have a story behind all this crap of yours, why don't you make your own thread?!?!
is it nice to crap in his thread? do you know his story to shove shit on our throats?

play nice Wink

sbogovac

legendary

Activity: 2744

Merit: 1193

I don't believe in denial.

Quote from: mavericklm on March 03, 2015, 07:02:41 AM

[...] oh yeah! he said that he steals the energy from your house!

Does it matter who is the victim? Undecided

EDIT: nevermind, rhetorical question. What matters: no such thing as free electricity.

mavericklm

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Quote from: sbogovac on March 03, 2015, 07:00:52 AM

Quote from: mavericklm on March 03, 2015, 06:58:24 AM

what if he is heating his house only with electricity!?!? then is ''free''!

lucky you to find cheap miners Tongue

Did you even read the topic?

Already went into that.

Please read before writing... Roll Eyes

Quote from: sbogovac on March 03, 2015, 03:54:52 AM

Quote from: Bitcoin++ on March 03, 2015, 03:46:09 AM

Same here in Europe. When it's cold and I anyway would need electric heating, I turn on miners. For every 1 EUR spent on electricity I get back around 50 cents.

And if you would use a space heater in stead of a miner you would be using 25 cents (instead of 1 EUR) for that same amount of heat, still losing 25 cents on mining... Heat is a byproduct of mining, remember?

oh yeah! he said that he steals the energy from your house!

sbogovac

legendary

Activity: 2744

Merit: 1193

I don't believe in denial.

Quote from: mavericklm on March 03, 2015, 06:58:24 AM

what if he is heating his house only with electricity!?!? then is ''free''!

lucky you to find cheap miners Tongue

Did you even read the topic?

Already went into that.

Please read before writing... Roll Eyes

Quote from: sbogovac on March 03, 2015, 03:54:52 AM

Quote from: Bitcoin++ on March 03, 2015, 03:46:09 AM

Same here in Europe. When it's cold and I anyway would need electric heating, I turn on miners. For every 1 EUR spent on electricity I get back around 50 cents.

And if you would use a space heater in stead of a miner you would be using 25 cents (instead of 1 EUR) for that same amount of heat, still losing 25 cents on mining... Heat is a byproduct of mining, remember?

mavericklm

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Activity: 742

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what if he is heating his house only with electricity!?!? then is ''free''!

lucky you to find cheap miners Tongue

sbogovac

legendary

Activity: 2744

Merit: 1193

I don't believe in denial.

Quote from: NeuroticFish on March 03, 2015, 06:51:37 AM

[...] Interesting that you "forgot" to take into account the point of ROI in that case too.[...]

No, I didn't... Even if the building costs already have been amortised it still has to be taken into account... And then there's still the operating costs... Hence - again - no such thing as "free electricity"... Grin

NeuroticFish

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Quote from: sbogovac on March 03, 2015, 06:47:36 AM

Even a water/wind mill or solar panels have costs; the building costs (both material as well as time/effort) and operating costs (maintenance et cetera) have to be taken into account...

Interesting that you "forgot" to take into account the point of ROI in that case too.

Quote from: sbogovac on March 03, 2015, 06:47:36 AM

But... I am very much open to what OP has to say about it... ~~Grin~~

Let's.

sbogovac

legendary

Activity: 2744

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I don't believe in denial.

Quote from: NeuroticFish on March 03, 2015, 06:42:50 AM

[...]
But what if his dad built a small water / wind "mill" in the backyard and that produces the power?

Why do you assume people guilty just like that?[...]

Even a water/wind mill or solar panels have costs; the building costs (both material as well as time/effort) and operating costs (maintenance et cetera) have to be taken into account...

So... to get to the second question:

Since we established there is no such thing as "free electricity"; asked and answered... (and this was actually the polite answer).

But... I am very much open to what OP has to say about it... Grin

Topic: Got ROI in 40 days with my Antminer S3+ - page 2. (Read 3592 times)