With solar energy efficiency going up and hardware costs dropping dramatically over time thanks to Moore's law, I could see solar energy playing a more prominent role in fueling mining operations without having to resort to eating up the energy grid which could not only go out at any time but also is not clean and renewable either.
The efficiency of solar energy for mining in sunny countries is very high if the mining companies have an agreement to consume electricity at night, even when electricity is not used as much. But I did not serve for large miners to produce solar electricity on their own.
Topic: How much do I need to start mining? (Read 1363 times)
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again.
Can I start mining with $300 and grow from there?
Can I start mining with $300 and grow from there?
- 300$? Is this just your introduction to Bitcoin mining? Are you serious about your question? Because nowadays, Bitcoin mining is expensive. From electricity costs to maintenance, this is where your $300 is missing, mate. Even second mining rigs are missing the $300 you are talking about. Maybe before you ask questions here in this forum section, you should do your own research about what you want to get into.
Because Bitcoin mining is actually not a joke when you do it, it's like raising a child in the same family. It's expensive to do that; that's the truth. It's not easy, but it's easy to think about it. That's why it's not easy when it comes to spending.
Same in Latvia. Small miner is pointless, sold all everything since electricity cost jumped almost x2. Anyone who wants to try mining should really do some math.
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again.
Can I start mining with $300 and grow from there?
Can I start mining with $300 and grow from there?
- 300$? Is this just your introduction to Bitcoin mining? Are you serious about your question? Because nowadays, Bitcoin mining is expensive. From electricity costs to maintenance, this is where your $300 is missing, mate. Even second mining rigs are missing the $300 you are talking about. Maybe before you ask questions here in this forum section, you should do your own research about what you want to get into.
Because Bitcoin mining is actually not a joke when you do it, it's like raising a child in the same family. It's expensive to do that; that's the truth. It's not easy, but it's easy to think about it. That's why it's not easy when it comes to spending.
There is no problem splitting your investment into mining and trading and you can grow in mining if your electricity rate is pretty cheap.
Even if you have bought mining devices you need to have cheap electricity to fuel these devices. In my country (Pakistan) electricity has grown high to be super expensive and people struggling to pay there home electricity bills. In such areas mining is not a profitable business. Solar power is a good option but again it takes good amount of investment to setup solar system at your doorstep. Lucky are those people who mined Bitcoins on there laptops or on other gadgets.
To start mining Bitcoin, you'll need a significant investment for specialized mining hardware called ASICs (Application-Specific Integrated Circuits). Costs vary, but it typically ranges from a few thousand to tens of thousands of dollars. Additionally, consider expenses like electricity, cooling, and maintenance, making it a substantial investment.
If you're considering cryptocurrency mining, it's essential to understand that profitability can be influenced by factors like the price of the cryptocurrency, mining difficulty, electricity costs, and the efficiency of your mining equipment. Smaller investments may not yield significant returns, and there is a risk of not covering your expenses.
If you have home mining or mining on your territory, then you do not need to pay for rent and security, and increase costs accordingly. If the premises are in a lease, then of course there is a minimum amount of equipment that must mine in order to recoup the costs. Otherwise it is not profitable. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again.
Can I start mining with $300 and grow from there?
You might need 2000 dollars to buy only mining rig. After that at least 1000 dollars for other expenses too. So be cautious with this field. This filed needs much more than you can expect. Can I start mining with $300 and grow from there?
You can put as much as you want into the mining operations and still may not reach the sweet spot. That is how the mining farm works.
Well, I can not tell you the exact budget but I have two topics that you should go through.
Basically, I made these topics for beginners in the mining field and it is purely based on my personal experience. Since I started the mining with my personal experience, it was both fun and struggling but it does provide a detailed layout for the mining and getting started with it.
Kindly note that this is for the GPU set up and doesn't refer to the ASICS as such. However, just thought to post it here so that you can try the best of both world.
Well, I can not tell you the exact budget but I have two topics that you should go through.
Basically, I made these topics for beginners in the mining field and it is purely based on my personal experience. Since I started the mining with my personal experience, it was both fun and struggling but it does provide a detailed layout for the mining and getting started with it.
Kindly note that this is for the GPU set up and doesn't refer to the ASICS as such. However, just thought to post it here so that you can try the best of both world.
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I don't know where you live and the cost of electricity in your country, but I honestly think $300 will not be enough to start mining. Considering the fact that people are quitting mining in 2023 because of the low profitability and high cost of mining. At the moment the price of every item has gone up a lot. To buy a normal laptop used to require 500 to 600 dollars but at the moment it is required to buy a laptop of the same category from 800 to 900 dollars, that is, considering the past market at the moment, if you ever want to set up, that plan will not be successful. Bitcoin mining can be an expensive project for us at the moment because electricity prices are much higher than before in any region we live in. OP initially wants to start bitcoin mining with 300 dollars but in current context bitcoin mining with 300 dollars is not possible, if OP wants to start bitcoin mining and if he wants help in that matter then he must discuss details like how is the cost of electricity in his area, mining. If he can provide detailed information about whether he has all the necessary equipment or how his country's government views Bitcoin mining, he will be of great help here.
I think you should start your journey with the original website of ASICS.
Better visit this page here: Buying Opportunity for ASICS This page explains what mode is available on the market currently for both new and used ASICS. You can also sort out different vendors based on your location. As you can see this will also exactly tell you how much is your initial investment. You can also visit few selected online guides on how to build your mining from the scratch. You should also make up your mind whether you want to start small or big. “Mining Farm” is really big thing since it would contain many ASICS and the cost would be in thousands of USD or may be more. You can get started with this website too: How to Build a Cryptocurrency Mining Rig from Scratch I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Starting with $300 might be challenging. It is recommended to do thorough research on the specific cryptocurrency you are interested in, calculate the profits and costs and consider the factors like electricity costs and hardware. Can I start mining with $300 and grow from there?
I don't know where you live and the cost of electricity in your country, but I honestly think $300 will not be enough to start mining. Considering the fact that people are quitting mining in 2023 because of the low profitability and high cost of mining.
If you crowd mine with a legitimate source you can start with $100.
With solar energy efficiency going up and hardware costs dropping dramatically over time thanks to Moore's law, I could see solar energy playing a more prominent role in fueling mining operations without having to resort to eating up the energy grid which could not only go out at any time but also is not clean and renewable either. The efficiency of solar energy for mining in sunny countries is very high if the mining companies have an agreement to consume electricity at night, even when electricity is not used as much. But I did not serve for large miners to produce solar electricity on their own.
To start mining, the minimum requirements would typically include a suitable mining rig or ASIC miner, a stable internet connection, and a power source. The initial investment can vary depending on the type of mining equipment you choose and your electricity costs.
I have an iPollo V1 mini and it is an excellent choice for beginners due to its compact size, efficiency, and competitive price. With a hashrate of 280m and power consumption of 220w, it provides a cost-effective solution for mining. The current price of $519 USD is quite reasonable considering its performance and features. https://ipollo.com/products/ipollo-v1-mini-wifi-280m Keep in mind that mining profitability depends on several factors, including the cryptocurrency you mine, the current market conditions, and electricity costs in your area. It's essential to calculate potential returns and consider the investment's risks before starting mining. Remember to stay informed about the latest trends and best practices in the mining community. Happy mining! Bitcoin mining isn't cheap nowadays, and the main problem is that the hardware gets obsolete really fast, I mean if you buy the best Bitcoin miner in 1 year it will not have enough power to be efficient enough to give you profit, that's why if you want to start mining you should look at altcoins, that's the right way to do it if you have low capital. The problem is free energy, can you get free or very cheap energy? Very hard or almost impossible for individuals but easier for big businesses. Even you can look for staking coins, PoS is an algorithm that let you mine just by holding coins in your wallet, so, with this kind of coins you don't need to buy hardware to mine. By the way, money-wise is to wait for Bitmain to announce an asic miner for a coin that has been mined via GPU only and then immediately buy this miner to get the most profit out of it. For example, recently announced Bitmain Antminer KS3 looks amazing. It's able to generate $2000 a day at the moment, so, the ones who get it as earlier as possible will generate a lot of profit because once it gets massively delivered and everyone plugs it, then it may only be able to generate 50-100 USD. Still sounds good if one ROIs quickly. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Trading and mining are two different things and you need to have the proper knowledge and finance. Mining with $300 is impossible when you don't have your mining equipment,the equipment are expensive to set up compared to that amount that you mentioned. Electricity cost is also there,and you should understand that mining consumes more electricity. If you already have the equipment then it will be possible for you to use $300 to start mining. Don't also forget that mining is risky due to low profit and some miners do pack up their mining farms and quit from mining. Government new policy in a country that kicks against bitcoin will also affect mining activities in that country. These are all what you put into consideration before making up your mind. Can I start mining with $300 and grow from there?
At first you need learn about mining. When you learn properly then you can easily know about cost of mining. I think for mining need Roughly standard computer. No need heavy computer or server computer. Normal computer is enough for mining. But now bitcoin mine is very tough it had some cost. If you manage 250$ - 500$ you can start mining. But at first you have gather knowledge about mining. Without proper mining knowledge you could not able to mining Although you manange money.
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. At this very moment viable mining profit only can manage with the best efficiency asic. And it cost 5.5k. In bear market like this is good start for mining. Gain knowledge and chosing different hardware and methods will help decided in future growth. 300$ is good enough to buy single gpu card used one like rx 6800 or so. Mostly miner came from hobbies. Can I start mining with $300 and grow from there?
First of all, you need to know what kind of equipment you might need to mine Bitcoin. Knowing about the specific equipment will give you an idea of how much money you might need to mine Bitcoin. Bitcoin mining usually requires mining software, a good quality computer, power, hardware, wallet, and other equipment. Make a list of these equipments in what kind of budget you will buy these items according to the budget and estimate the price of each equipment and then calculate the total. Hopefully the totals will give you an idea of what your initial cost of mining Bitcoin might be. It will be difficult for you to start mining with $300. Because buying a good quality computer can cost you 300 dollars. With 600 to 1000 dollars you can start mining.
Can I start mining with $300 and grow from there? You can or cannot start your mining with $300. It depends on the equipment and tools you have on ground. First if you do not have a computer with a powerful GPU such as Alienware or GeForce or any of those gaming PC then you need to buy one. The average price for one is within $700 for a new one and $400 for a used one the last time I checked. If you do then, you are half way there - the next thing is do you have electricity or better still you may need to look towards alternative sources of energy to power you mining operations. I know you are starting small so you do not need anything elaborate. You may need to build a 5500kw battery bank off of one 360w solar panel that can power your apartment. The estimated cost for this is about $1200 on my equipment. This would be a one-off thing and you wouldn't need to pay high electricity fee monthly. As you can see, the $300 is not enough to start up, you need to review your budget.
Hello everyone,
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Bitcoin mining isn't cheap nowadays, and the main problem is that the hardware gets obsolete really fast, I mean if you buy the best Bitcoin miner in 1 year it will not have enough power to be efficient enough to give you profit, that's why if you want to start mining you should look at altcoins, that's the right way to do it if you have low capital.
Even you can look for staking coins, PoS is an algorithm that let you mine just by holding coins in your wallet, so, with this kind of coins you don't need to buy hardware to mine.
By estimating the common equipment needed for Bitcoin mining in your country, you can arrive at a total of how much it might cost to start mining. Usually the devices are of different prices depending on what kind of device you use, if you want to use a better quality device or something else you may spend a little more money. But starting Bitcoin mining does not require much money initially. But I think it is very necessary to have 500$ to 600$ in hand before starting bitcoin mining. Because if you have 500$ to 600$, you can start mining roughly.
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? If you mean bitcoin mining you want to mine, at this time I don't know any 300$ Asic miner, most of them are expensive in the market. Try to see it here at https://www.canaan.io/ and also try to research if you are really determined to buy. Even if it's a secondhand Asic miner, you can't buy that amount of 300$, instead of thinking about that, it's better to buy bitcoin or other altcoins that have the potential to give you profit. Hello boys, How many solar panels do you need to generate 100 megawatts per hour?If I have 100MW/hour, what is the budget to create a Bitcoin mine connected to this electricity grid from photovoltaic panels? Is there anyone who can create this mine for me from scratch? If anyone can help me with these details, please leave me a message. Thanks. These are hundreds of thousands of solar panels and investments of several hundred million dollars. I know that the largest solar power plants in the world produce 1000-2000 megawatts, but I don’t understand how you can mine at night? Well you make 1 megawatt an hour which is around 6 megawatts in a day so 6/24 = .25 megawatts an hour for 24 hours. basically you cap at 250kwatts and sell the excess to the grid. during the day. then you buy back the power at night. Depending on what country and set of laws many power grids allow this and do it fairly. we have a 280kwatt a 115kwatt and a 45kwatt array. or 440kwatts of arrays in the state of New Jersey we are allowed to sell the excess back in daylight and buy it back at night. so our setup is 440 x 6 = 2.640 megawatts /24 = 110kwatts 24 hours a day. nets to zero cost for power. Hello boys, How many solar panels do you need to generate 100 megawatts per hour?If I have 100MW/hour, what is the budget to create a Bitcoin mine connected to this electricity grid from photovoltaic panels? Is there anyone who can create this mine for me from scratch? If anyone can help me with these details, please leave me a message. Thanks. These are hundreds of thousands of solar panels and investments of several hundred million dollars. I know that the largest solar power plants in the world produce 1000-2000 megawatts, but I don’t understand how you can mine at night? Hello boys, If I have 100MW/hour, what is the budget to create a Bitcoin mine connected to this electricity grid from photovoltaic panels? Is there anyone who can create this mine for me from scratch? If anyone can help me with these details, please leave me a message. Thanks. So you have 100mega watts an hour to burn? 1 mega watt an hour does 300 s19's 100 mega watts an hour does 30000 s19's to be safe lets say 28,000 s19's A high end s19 xp = 4k so 28,000 x 4k = $112,000,000 worth of miners or a lower cost s19 = 1k so $28,000,000 worth of miners. You need a lot more for cooling and if you do solar you would have a very large solar array maybe in the top 20 of the biggest in the world. 100 megawatts of use means maybe a 600 megawatt farm to cover your usage. https://www.theecoexperts.co.uk/solar-panels/biggest-solar-farms#:~:text=1.,working%20to%20deliver%20clean%20energy. "13. Kamuthi Solar Power Station — India The Kamuthi Solar Power Station is another entry for India, which combined has the fifth largest solar capacity of any country in the world. This solar farm has an output of 0.65 GW and generates electricity for approximately 265,000 homes in the Tamil Nadu state. 14. Francisco Pizarro — Spain Europe just managed to get into the top 15 with the Francisco Pizarro Solar Plant in Spain, a 0.59 GW solar farm capable of powering around 334,400 homes. That’s equivalent to removing 150,000 tonnes of CO2 from the atmosphere every year. Interestingly, during construction of the solar farm extensive archaeological remains dating back to ancient and medieval times were found. All steps were taken to ensure their protection and responsible excavation. 15. Solar Star — US For a country with the second-highest solar capacity, behind only China, it’s surprising to see the US only has a single entry on this list. Nonetheless, the Solar Star solar farm in California is one of the most advanced solar farms in the world. It uses the more expensive crystalline silicon for its solar panels, which gives it greater efficiency while covering a smaller surface area than other solar farms with a similar power output — 0.58 GW over 12 km2 of land." Tom Gill Tom Gill Writer Tom joined The Eco Experts over a year ago and has since covered the carbon footprint of the Roman Empire, profiled the world’s largest solar farms, and investigated what a 100% renewable UK would look like. Tom has a particular interest in the global energy market and how it works, including the ongoing semiconductor shortage, the future of hydrogen, and Cornwall’s growing lithium industry. 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Popular posts man installs a solar panel system Solar Panel Costs UK 2023 I think if you have this much $$ to spend you do not need our services. But if you are usa based. My partner has built 300 and 500 kwatt farms we use a 280kwatt a 115kwatt and a 45 kwatt set of arrays to mine. total is 440kwatt an hour.
Hello boys,
If I have 100MW/hour, what is the budget to create a Bitcoin mine connected to this electricity grid from photovoltaic panels? Is there anyone who can create this mine for me from scratch? If anyone can help me with these details, please leave me a message. Thanks. The amount needed to start mining depends on several factors, including the cryptocurrency you want to mine and the mining equipment you plan to use. The initial capital or the actual base fee also depends on some tools or speed power that every miner wants, when someone focuses on Ethereum most of them often use Rig Mining and use some powerful processors to do mining like this, but if you take Bitcoin option for patching most of people use ASIC, because it is more effective. ASIC itself is a tool that requires expensive costs and great power, because it involves commensurate electrical power. With regard to electricity, of course, it requires costs, and from this point of view it is also included in the calculation of a miner's capital. Local electricity costs must be considered when wanting to carry out mining, because this is also a factor that involves mining costs. The amount needed to start mining depends on several factors, including the cryptocurrency you want to mine and the mining equipment you plan to use. The initial capital or the actual base fee also depends on some tools or speed power that every miner wants, when someone focuses on Ethereum most of them often use Rig Mining and use some powerful processors to do mining like this, but if you take Bitcoin option for patching most of people use ASIC, because it is more effective. ASIC itself is a tool that requires expensive costs and great power, because it involves commensurate electrical power. With regard to electricity, of course, it requires costs, and from this point of view it is also included in the calculation of a miner's capital. Local electricity costs must be considered when wanting to carry out mining, because this is also a factor that involves mining costs. Then what you say is that it is better to buy used miners on Ebay first, is it safe to use these miners from Ebay? Or what you are saying is that bitcoin miners can be bought and sold where it is good to buy used miners during a bear market and sell them during a bull market, am I understanding correctly? No Sir, What I am trying to say if the OP with his $300 want the taste of mining then he can buy used ASIC miner on ebay and try it at home. Or Buy used miner and sell it again believe me I do buy used asic miner and sell again although looking for buyer is hard. (*if you want made profit from $300) Just Like you I want to start my own mining farm but like it or not it needs a huge capital that is obviously more than $1k to buy new gear I dont mention about shipping fee and then the electricity fee internet fee the list can go on. Especially if you live from third-world country like I did the money above 1K is expensive and that is a lot of money. If you have free electricity like totally free or still want to know the taste of mining you can buy a used miner ebay maybe on your local marketplace there is dozen. For now maybe you can buy some used miner and sell it again for profit or do something else and I know is sad  What countries today can we say is a good place to start bitcoin mining that at the same time has cheap electricity? I was just curious, because they say there are other countries where electricity is almost free, while here in my country electricity is very expensive. Then what you say is that it is better to buy used miners on Ebay first, is it safe to use these miners from Ebay? Or what you are saying is that bitcoin miners can be bought and sold where it is good to buy used miners during a bear market and sell them during a bull market, am I understanding correctly? If you have free electricity like totally free or still want to know the taste of mining you can buy a used miner ebay maybe on your local marketplace there is dozen. For now maybe you can buy some used miner and sell it again for profit or do something else and I know is sad A large consumption of electricity for free can force an energy company to find a miner, and then there will be fines and confiscation of ASICs. Currently, there are no Bitcoin ASIC units below $300 mostly the price is above $1k but if you want to mine Bitcoin then you can buy 2nd hand S9 units zeusBTC is selling used units you can check it from this link below - https://www.zeusbtc.com/ASIC-Miner-Repair/ Then search s9 or you can try to check available units from here https://t.me/asicMinerChannel/5668 or contact offordscott here https://bitcointalksearch.org/user/offordscott-1449095 He is not so active here unlike on his telegram group above. There is no problem splitting your investment into mining and trading and you can grow in mining if your electricity rate is pretty cheap. Just got myself informed from one of the post that I was discussing in that you can still buy upgraded version of Gekkoscience Mining USB stick. It is currently sold at 299 euros which is pretty cheap. It is embedded with ASIC chip and is able to mine at 350 GH/s. This is not a bad option for the person who is just starting with the mining. Plus, there is no complicated set up behind the stick. It’s almost plug and play type of miner category. You can easily get along with the pool settings, learn more about it while mining and thus later can upgrade to new versions or bigger antminers. I have not explored the website fully but they are from Germany and delivers world wide.
Just Like you I want to start my own mining farm but like it or not it needs a huge capital that is obviously more than $1k to buy new gear I dont mention about shipping fee and then the electricity fee internet fee the list can go on. Especially if you live from third-world country like I did the money above 1K is expensive and that is a lot of money.
If you have free electricity like totally free or still want to know the taste of mining you can buy a used miner ebay maybe on your local marketplace there is dozen. For now maybe you can buy some used miner and sell it again for profit or do something else and I know is sad he could buy an old L3+ point it to Nicehash and it will convert to btc. Burn 800 watts a day to earn 10-13 cents a day.https://www.ebay.com/itm/155554995741 https://www.asicminervalue.com/miners/bitmain/antminer-l3-504mh Litecoin will have halving in 74 days and the block reward will be 6.25 coins instead of 12.5. After halving, you can forgive the seller for a discount. Even for an investment in altcoin mining, this is a small amount.
he could buy an old L3+ point it to Nicehash and it will convert to btc.
https://www.ebay.com/itm/155554995741 I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? You can literally start mining with the computer that you are using to post this topic on the forum. You just would not earn a lot since the computing power is considered nothing special (unless you have a really awesome and expensive hardware setup). I think the question you want to ask is how much money do I need to invest into mining Bitcoin for it to become profitable by an x amount of percent, in regards to the money that I put in? That might be a bit more difficult to solve since you have to consider the costs of miners, electricity, internet, space and so on... So the most necessary question to figure out your costs is: how much money, at minimum, do you want to make? I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? You can literally start mining with the computer that you are using to post this topic on the forum. You just would not earn a lot since the computing power is considered nothing special (unless you have a really awesome and expensive hardware setup). I think the question you want to ask is how much money do I need to invest into mining Bitcoin for it to become profitable by an x amount of percent, in regards to the money that I put in? That might be a bit more difficult to solve since you have to consider the costs of miners, electricity, internet, space and so on... So the most necessary question to figure out your costs is: how much money, at minimum, do you want to make?
With high setup costs, it may not be feasible to mine BTC with 300$. Try to find other options in this budget
For $300, you can only buy used old ASICs, which are profitable on condition of free electricity.
S9 Asic is very cheap, and you can buy it for 100-200 dollars, but this is for those regions and countries where the state pays citizens the cost of electric heating of a private house in winter in the form of subsidies. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Mining is one of the profitable investment in the crypto world. But before one can mine, he/she must have the necessary equipment to start the mining. The capital amount to start is just a secondary plan. Once you have the devices to start then you can use the $300 to start the mining. To get ASIC device will cost you more than that amount you have said.Can I start mining with $300 and grow from there? This simply means that $300 is not enough to start mining because @OP still needs money for the mining machine setup, and the capital amount to start isn't considered under the secondary plan, it should be the main focus because any plan you made without enough funding will never realize. @OP, if your budget is just like that amount, it is not enough to buy a decent mining rig, so I guess you can just use it to buy Bitcoin at least your goal of having Bitcoin is still met even though it isn't from mining activity. Maybe in 2014 that kind of price is still possible, because in those days the mini rigs were still cheap as far as I know. But now that amount will not really work. This op still lacks knowledge. But I agree that it's better if he buys it with bitcoin and if he knows something about trading, it's better if he doesn't hold anything for long term or put it in staking like Binance. This is a slightly better option in the amount of 300$ as far as I can see,. Can I start mining with $300 and grow from there? The costs that you use are much lower for initial trials in mining, even to meet the needs of standard working tools requires a much larger capital, not to mention talking about the cost of available electricity and maintenance of equipment in the event of damage.Not the fastest way to generate BTC assuming a capital of $ 300, it's better to buy directly and try to survive in the next period of increase and you can try to raise capital first before being interested in trying to mine. I've seen how many people eventually have to quit because they can't afford to pay for equipment maintenance and so on.
When i think i want to mine bitcoin, i immediately think how many tens of thousands i have to spend on equipment, and then how much more i need to spend on preparing the premises, and then spend more time on all sorts of settings and monitorings) 300 bucks - nothing)
It is not possible to buy any profitable Asic miner with 300$. Mining must have huge amount to get good profit. To buy Asic miner you need good amount of money.Not only if you are interested in mining,Must be financially sound to manage both planned and unplanned expenses.Currently there are many sectors of mining but with such a small amount you cannot expect anything good.Not everyone is successful at mining, ASIC - which is currently one of the top-performing hardware on the platform, cannot be afforded by everyone.
To know how much it will cost you to mine, you first need to know what you might need to mine. And by pricing those things you need to arrive at a baseline of how much it might cost you to mine.
First of all, the basic things required for mining are a good quality computer, a hardware, powerful RAM, computer disk power etc. And some other essentials may be required. You have to determine a price for all these things and after determining the price of these things you can get your calculation easily by calculating the total price.
Avalon Miners are on sale at Canaan Shop. You can get an A1246 for less than $600.Maybe OP can consider it. Check https://shop.canaan.io/ or contact me at https://t.me/wongsiufong for inquiries. I am from Canaan Official
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? Maybe possible if: a) you have free electricity b) know someone who is willing to rent an ASIC miner for a reasonable amount c) you start with obsolete hardware and shitcoin mining, converting shitcoins mined to Bitcoin. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? I think the first question you need to ask yourself is at what price you will pay for electricity when you start mining. Then you need to run some basic math to understand if it can be profitable or not. Actually, mining operations, big or smal are quite intensive and competition is always around the corner. Mining with profit is hard, requires some initial investment and requires loads of time, availability and anothet shit load of stuff, even in very small scale. Even if you want to purchase a single miner, put it at your home, you need a spot where you have electricity, internet connectivity, where the miner can scream and nobody bothers or you have to account for soun isolation. A part from that you should also consider proper ventilation! Just to start! Mining a bitcoin involves storing a large amount of cryptocurrency on your computer or in a wallet. This can be a security risk if proper security measure are not taken. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? I think the first question you need to ask yourself is at what price you will pay for electricity when you start mining. Then you need to run some basic math to understand if it can be profitable or not. Actually, mining operations, big or smal are quite intensive and competition is always around the corner. Mining with profit is hard, requires some initial investment and requires loads of time, availability and anothet shit load of stuff, even in very small scale. Even if you want to purchase a single miner, put it at your home, you need a spot where you have electricity, internet connectivity, where the miner can scream and nobody bothers or you have to account for soun isolation. A part from that you should also consider proper ventilation! Just to start!
The minimum volume of income required to start mining cryptocurrency depends on various factors, including the type of cryptocurrency being mined, the hardware being used, and the cost of electricity in the region.
For example, according to NiceHash's profitability calculator, with an ASIC like the Bitmain AntMiner L7, which is currently one of the top-performing hardware on the platform, one can earn 0.00088500 BTC ($25.50) per day. Regarding the second part of your question, while trading and mining are different activities, some of the same skills and strategies can be applied to both. In terms of starting mining with $300, it may be possible to purchase some basic mining hardware and start mining some cryptocurrencies, such as Ethereum. According to Hashalot, mining Ethereum requires hardware that uses electricity efficiently and has high computing power. It may also be possible to join a mining pool, which allows miners to combine their resources and increase their chances of earning rewards. I think, it's important to note that mining does not involve the same level of risk as trading, as the rewards are more predictable and steady. considering that with only $300 you do little or nothing in the first few months, he should still pay the first bills, trying the lottery would be suicide, he could pay bills for months before seeing (if he's ever lucky enough) any results. There are no effective $300 BTC miners right now. Even if the electricity is free, for this price you can buy 2 old C9 or S9 ASICs, which will bring little profit and can break down without even recouping the investment. With 300 dollars you can only invest in altcoin mining. there are small BTC miners from 4/500 dollars, they are efficient but obviously they don't make you a fortune, the ROI is very long but a bullrun could shorten the time. or you could consider an apollo V1 or similar.convert what you mini to BTC and its the same
considering that with only $300 you do little or nothing in the first few months, he should still pay the first bills, trying the lottery would be suicide, he could pay bills for months before seeing (if he's ever lucky enough) any results.
there are small BTC miners from 4/500 dollars, they are efficient but obviously they don't make you a fortune, the ROI is very long but a bullrun could shorten the time. or you could consider an apollo V1 or similar.convert what you mini to BTC and its the same I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Mining is one of the profitable investment in the crypto world. But before one can mine, he/she must have the necessary equipment to start the mining. The capital amount to start is just a secondary plan. Once you have the devices to start then you can use the $300 to start the mining. To get ASIC device will cost you more than that amount you have said.Can I start mining with $300 and grow from there? This simply means that $300 is not enough to start mining because @OP still needs money for the mining machine setup, and the capital amount to start isn't considered under the secondary plan, it should be the main focus because any plan you made without enough funding will never realize. @OP, if your budget is just like that amount, it is not enough to buy a decent mining rig, so I guess you can just use it to buy Bitcoin at least your goal of having Bitcoin is still met even though it isn't from mining activity. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? If at such an amount in this era you will not see Bitcoin mining like that. That's too low actually. Maybe if it's 2014 it's possible but not this time as the previous commenters said. Then mining is not just that you just thought it was okay, it's not like that of course. There are some things you should consider in that matter, first your electricity consumption should be low because your mining rigs are open 24/7. Secondly, your electricity consumption should also not increase to 0.04$ KWH as far as I know, because I also planned to mine, so the only problem I had was that my electricity consumption was high here, so the things I planned before mining would not work either. of bitcoins. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Mining is one of the profitable investment in the crypto world. But before one can mine, he/she must have the necessary equipment to start the mining. The capital amount to start is just a secondary plan. Once you have the devices to start then you can use the $300 to start the mining. To get ASIC device will cost you more than that amount you have said. Can I start mining with $300 and grow from there? But you can attached yourself to someone who has everything and follow the person to mine then when you have enough to start on your own, then you can start it with the amount you have gotten. Currently, there are no Bitcoin ASIC units below $300 mostly the price is above $1k but if you want to mine Bitcoin then you can buy 2nd hand S9 units zeusBTC is selling used units you can check it from this link below Fairly used equipments can save you cost, but in some cases they are not the best to buy if you are not the type that likes to spend money on repairs and fixing. You will be lucky to get a fairly used equipment that will not give you problems shortly after some serious use.There are many people interested in mining but because they are not financially buoyant to manage the expenses both planned and unplanned, they choose to stick with buying bitcoins and waiting. If you do not have enough capital, do not engage in mining. For successful mining you have to have a good financial commitment to ensure that you make profit from it else you will stop halfway and whatever you have invested becomes lost or hard to recover. 300 bucks is too small. Currently, there are no Bitcoin ASIC units below $300 mostly the price is above $1k but if you want to mine Bitcoin then you can buy 2nd hand S9 units zeusBTC is selling used units you can check it from this link below Fairly used equipments can save you cost, but in some cases they are not the best to buy if you are not the type that likes to spend money on repairs and fixing. You will be lucky to get a fairly used equipment that will not give you problems shortly after some serious use.There are many people interested in mining but because they are not financially buoyant to manage the expenses both planned and unplanned, they choose to stick with buying bitcoins and waiting. If you do not have enough capital, do not engage in mining. For successful mining you have to have a good financial commitment to ensure that you make profit from it else you will stop halfway and whatever you have invested becomes lost or hard to recover. 300 bucks is too small. Quote To gain experience, you can buy a small mining farm on 4x Rx470 video cards, but this is only for training.And you need to have at least a little experience with components. Training? Training in what - how to setup a PC for mining with GPU's? Um, considering this is the Bitcoin area and using GPU's is only viable for mining alt crapcoins, that route is useless.Aside from knowing how to deal with the heat and noise Bitcoin mining hardware is pretty much plug-n-play. Look GPUS are perfectly fine way to mine BTC indirectly on nicehash. I think the purity definition asked on this section is wrong. But I do respect your right to believe in that definition. I point 7gh to nicehash mining with gpus makes me about 50 usd in btc a day. say 0.00151000 btc. So gpus are a good way to make btc indirectly which this board does not approve talking about. And dollar per watt earnings on that is decent. about 16kwatts an hour to make 0.00151 btc pre power cost. but 5 s19's would burn 16kwatts and earn 0.001424 btc pre power cost So to never speak of gpu mining to get btc in this section is a disservice . In my belief system. which I hope you respect as I do respect your belief system. Quote To gain experience, you can buy a small mining farm on 4x Rx470 video cards, but this is only for training.And you need to have at least a little experience with components. Training? Training in what - how to setup a PC for mining with GPU's? Um, considering this is the Bitcoin area and using GPU's is only viable for mining alt crapcoins, that route is useless.Aside from knowing how to deal with the heat and noise Bitcoin mining hardware is pretty much plug-n-play. I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Mining is not the fastest and easiest way to make money. You have cheap electricity. If you are paying more than 6 cents, then you don't need to be mining right now. To gain experience, you can buy a small mining farm on 4x Rx470 video cards, but this is only for training.And you need to have at least a little experience with components. Can I start mining with $300 and grow from there? Can I start mining with $300 and grow from there? I don't think that $300 would be sufficient to generate a significant income from mining because you typically need to invest more in hardware to make a decent profit. It's better to save up a bit more money until you can afford a used ASIC Antminer, which can produce a better return on investment. I have tried mining before using my GPUs, and it worked well until the difficulty increased and the value of Bitcoin decreased significantly, which made it unprofitable. 300 bucks is a really low amount if you're looking to mine bitcoin, at that point you might as well just mine using a Gameboy if you wanna cheap out on the rig. Are you sure GameBoy? Not worth trying it only hash 0.8H/s meaning in solo mining it takes decades before you can able to solve a block or even if you mine on the pool you can't even make a single Sat it would be better to buy 2nd hand ASIC units than wasting your money buying gameboy to mine BTC. The Offordscott telegram link above has some s9/t9 units listed for around $135 or even cheaper.
300$? Maybe, possibly with promised returns per day from Cloud mining, I hope you aren't looking up to one already. They are all scams no matter how legit they look.
You can't buy any profitable Asic miner with 300$, you should let go of this idea right now and be prepared for the future, there is a good way to get prepared, start buying Bitcoin or ETH before it's too late, we are still in a bear market right now, start accumulating before halving gets here, at that time it might be too late already. Can I start mining with $300 and grow from there? Judging from your post history, it looks like you failed to consistently make profits when you trade and are looking to DCA. I think that is a good idea, as long as you have the patience to hold and keep buying even if the market is full of bear sentiment. If you don't like the waiting part and want to grow your capital quickly, even if you find cheap electricity I don't think you'll be able to stick to your mining plan. Whether you mine or not, you'll need to wait for some time before it bears fruit.If $300 is your only budget, I'd suggest you stick with your DCA plan. Especially since you mentioned you have some responsibilities to your family and can't allocate too much money to high-risk investments. CMIIW. with $300 I'd take the risk on solo mining pool using nicehash I'm too I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again. Can I start mining with $300 and grow from there? $300 is not really enough for you to make your money back as in investment in mining hardware. Unless you are playing the lottery with USB sticks or an Apollo BTC unit and just happen to get very very very lucky. But with the difficulty at an all time high finding a block with smaller ASIC hardware(s) would be much like getting struck by lightning during a sunny day. It's possible but highly improbable. As others have mentioned if $300 is the limit you would be better off buying BTC and holding it hoping for an increase in value.
with $300 I'd take the risk on solo mining pool using nicehash
With 300 better buy spot btc and chill
you need at least couple mil to kickstart a mining biz and im not even including the necessary know-how
300 bucks is a really low amount if you're looking to mine bitcoin, at that point you might as well just mine using a Gameboy if you wanna cheap out on the rig.
Most standard mining rigs right that are efficient enough would range from $2000 to $20000, and that's for ASIC miners too. If you want to get mining rigs for cheap I suggest you look into craigslist or OLX to find secondhand mining rigs, or maybe look for manufacturers that sell their secondhand rigs like zeusBTC to get relatively cheaper prices for bitcoin mining rigs. You also have to consider having to pay for your electricity bill btw, so keep that in mind. if you can't afford to buy a mining rig that's powerful enough, then perhaps you wouldn't be able to pay ridiculous electricity fees too, but that's speaking from experience. Can I start mining with $300 and grow from there? That's a pretty low amount if you are thinking of mining BitcoinAnd also don't just focus on buying mining gear, have you thought about other expenses such as electricity cost in your area and the maintenance cost in case things go wrong? It would be a shame if you bought a miner and would be able to run it because there are not any more funds to cover other costs
Currently, there are no Bitcoin ASIC units below $300 mostly the price is above $1k but if you want to mine Bitcoin then you can buy 2nd hand S9 units zeusBTC is selling used units you can check it from this link below
- https://www.zeusbtc.com/ASIC-Miner-Repair/ Then search s9 or you can try to check available units from here https://t.me/asicMinerChannel/5668 or contact offordscott here https://bitcointalksearch.org/user/offordscott-1449095 He is not so active here unlike on his telegram group above. There is no problem splitting your investment into mining and trading and you can grow in mining if your electricity rate is pretty cheap.
I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again.
Can I start mining with $300 and grow from there? Jump to:
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