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Topic: How much does it cost to mine your own bitcoin? - page 2. (Read 281 times)

jr. member
Activity: 70
Merit: 3
First Decentralize Mobile Service Telecom Company
Just a silly curious thing, are you going to hold a seminar for people  to get oriented with Bitcoin (or cryptocurrency in general)? And you haven't been searching the net for what to do with mining? I'm not trying to be a jerk here but I love people doing good things in cryptocurrency and I admire the enthusiasm. I just hope that, please, if you are trying to convince people to go with cryptocurrency, make sure to do research. Bitcoin is a bit complicated, the paper released at its heart is not really a cash system but a solution to double spending. So we can use it to solve problems like ownership (money, or lot, or even records that can't be tampered). I must admit I'm not the person to do a seminar although I'm still trying to convince people around me to try cryptocurrency. And hopefully learn more.

Honestly I haven't started mining Bitcoin myself, too costly for me to buy ASIC machines. So I only have few GPUs mining altcoins (alternative coins). To start with altcoin mining, about 70k will do. With Bitcoin, apart from having the miner, you need power supply and a sound proof container, it could be so loud. Some cooling perhaps, you can check Youtube videos on someone mining with S9.

In addition, you can still mine altcoins and sell it for Bitcoin. Say you mine new launched coins with GPU, you can do a little reading about what's best to mine with your GPUs. You can even calculate your profit for some listed coins here. There are also coins that are friendly to CPU, you can mine it with your i7 machine, i5 even. Monero for example is one, or other variant of cryptonote.

Again it depends to your liking, so for the price, I can't really say exactly how much as I haven't tried buying S or L series miners. But you can check the net and roughly estimate it to be around 300K pesos, or even more. As for electricity, S9 consumes about 300 watts? If this is true then it's efficient, maybe not much electricity about 6 1050 GTX but the price of S9 is worrying.

Lastly, for maintenance. I'm afraid we don't have local supplier for these machines and repairing it if broken can be costly. Just my 2 cents, hope you forgive my curiousity. Thanks!

I just wish you understand that this is the reason why I'm asking here. Smiley Don't you think that me asking here is part of the research? Smiley It's not like I am going to give the seminar tomorrow and I have just thought that I should ask experts here today, unless you have done that before. Smiley The funnier thing is I was asking those who have already tried and yet here you are who mentioned clearly that you haven't tried it. Smiley

I'm still waiting for someone with experience. Thanks for your answer though.

And by the way, just food for thoughts: You don't have to be the right person before you can do the seminar. You just have to get the right answers from the right people (that's why I'm asking the experts). Smiley
newbie
Activity: 5
Merit: 1
Just a silly curious thing, are you going to hold a seminar for people  to get oriented with Bitcoin (or cryptocurrency in general)? And you haven't been searching the net for what to do with mining? I'm not trying to be a jerk here but I love people doing good things in cryptocurrency and I admire the enthusiasm. I just hope that, please, if you are trying to convince people to go with cryptocurrency, make sure to do research. Bitcoin is a bit complicated, the paper released at its heart is not really a cash system but a solution to double spending. So we can use it to solve problems like ownership (money, or lot, or even records that can't be tampered). I must admit I'm not the person to do a seminar although I'm still trying to convince people around me to try cryptocurrency. And hopefully learn more.

Honestly I haven't started mining Bitcoin myself, too costly for me to buy ASIC machines. So I only have few GPUs mining altcoins (alternative coins). To start with altcoin mining, about 70k will do. With Bitcoin, apart from having the miner, you need power supply and a sound proof container, it could be so loud. Some cooling perhaps, you can check Youtube videos on someone mining with S9.

In addition, you can still mine altcoins and sell it for Bitcoin. Say you mine new launched coins with GPU, you can do a little reading about what's best to mine with your GPUs. You can even calculate your profit for some listed coins here. There are also coins that are friendly to CPU, you can mine it with your i7 machine, i5 even. Monero for example is one, or other variant of cryptonote.

Again it depends to your liking, so for the price, I can't really say exactly how much as I haven't tried buying S or L series miners. But you can check the net and roughly estimate it to be around 300K pesos, or even more. As for electricity, S9 consumes about 300 watts? If this is true then it's efficient, maybe not much electricity about 6 1050 GTX but the price of S9 is worrying.

Lastly, for maintenance. I'm afraid we don't have local supplier for these machines and repairing it if broken can be costly. Just my 2 cents, hope you forgive my curiousity. Thanks!
jr. member
Activity: 70
Merit: 3
First Decentralize Mobile Service Telecom Company
I would really love to know the cost of all the equipment and other stuff needed to mine your own bitcoin. I am going to hold a swminar about bitcoin and I would love to gather some information from you guys who have already tried. What equipment do I need and how much do they cost? Plus how much will I spend for the whole mining activity? (Like electricity or maintenance expenses)

Thank you very much for your answers.
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