I have $5,000 to buy equipment and almost free electricity. Where do I start? - page 3.

abyrnes81

hero member

Activity: 714

Merit: 500

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

I would like to give you my personal suggestion, don't start to "mining" not it is not more convenient and you will lose only money and (especially) time. Maybe you should start to trade altcoin and bitcoin, you can make (easily) 20-30 bucks per day.

stonerider

full member

Activity: 224

Merit: 100

The University will notice that you are sucking down a large amount of electricity. They will come down hard on you. Your mining career will end well before you experience ROI. They may even press criminal charges against you as well. If you don't think so, go ahead, no skin off my teeth.

Amph

legendary

Activity: 3206

Merit: 1069

Quote from: Tabata11 on April 06, 2015, 01:07:26 PM

Do I need to purchase a set of fans to keep the miners cool? What do I need to purchase to keep them cool? Also, running the AC low wouldn't be sufficient enough to cool them right? I usually run my AC below 70 degrees all summer because my bill doesn't change or anything.

Also, how do I check to see if the electricity power in my apartment is strong enough to support multiple mining equipment? I see that the maximum is 125 amp or not to exceed 110 amp per branch circuit stab... I don't know want to purchase mining equipments if my apartment electricity can't support them.

new fans can help with the noise, those miners are all very loud, they can also help with cooling them, as long as they move a good amount of air, you should see about CFM when purchasing a fan, the higher the more air it moves, and bigger the fan the less noisy is

for electricity usually those apartment can support 3kw, now i don't know if you are with 120/220, but amperage should be around 15 or 27

Tabata11

sr. member

Activity: 290

Merit: 250

Do I need to purchase a set of fans to keep the miners cool? What do I need to purchase to keep them cool? Also, running the AC low wouldn't be sufficient enough to cool them right? I usually run my AC below 70 degrees all summer because my bill doesn't change or anything.

Also, how do I check to see if the electricity power in my apartment is strong enough to support multiple mining equipment? I see that the maximum is 125 amp or not to exceed 110 amp per branch circuit stab... I don't know want to purchase mining equipments if my apartment electricity can't support them.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: mavericklm on April 06, 2015, 02:16:28 AM

cooling and/or ventilation will be an issue in the summer time. keep that in mind when you reach the ''maximum'' number of miners
also test your electric to see how much you can suck before u cause a fire/ breaker tripping...
maybe you need more concentrated power than s3, sp3x may be your answer; but you will need to make some mods to keep it's noise down
using the ventilation built into the building may be an alternative, or not. look into it

Cooling becomes huge in summer. During winter you can run easily more then you can most places. The trick is venting exhaust and getting new air.

I personally got rid of a few miners including the A1 Dragon. Some miners just are not good for summer. You might look into underclocking as-well it really can help depending on miner with the heat it puts out.

mavericklm

hero member

Activity: 742

Merit: 500

cooling and/or ventilation will be an issue in the summer time. keep that in mind when you reach the ''maximum'' number of miners
also test your electric to see how much you can suck before u cause a fire/ breaker tripping...
maybe you need more concentrated power than s3, sp3x may be your answer; but you will need to make some mods to keep it's noise down
using the ventilation built into the building may be an alternative, or not. look into it

philipma1957

legendary

Activity: 4172

Merit: 8075

'The right to privacy matters'

Quote from: Tabata11 on April 05, 2015, 09:56:45 PM

I live in an apartment that is owned by a large university so I don't think they monitor electricity usage or anything like that.

Also, how long does it take to set up the mining equipment? I have little knowledge about computer systems and mining equipments. and I would like to mine to earn bitcoins and learn about them at the same time.

you want s-3's here is a legit seller

http://zoomhash.com/products/antminer-s3-bitcoin-miner-453-gh-s

buy 3 and use this psu to start your mine

http://www.amazon.com/EVGA-SuperNOVA-1300G2-ATX12V-120-G2-1300-XR/dp/B00COIZTZM/ref=sr_1_1?ie=UTF8&qid=1428291999&sr=8-1&keywords=evga+1300+g2

you can run 3 machines on that psu.

you may find a better price for s-3's as low as 85 here and there.

trust just get 3 of them they will be hot.

3 s-3's = 1350-1500gh and pull 1100-1250 watts the psu = 169 if you find 3 s-3's for 300 you are at 469 out of pocket

If power is truly cheap 2 cents a kwatt you will be ahead 44 to 171 dollars by Jan 1st 2016.

Tabata11

sr. member

Activity: 290

Merit: 250

I live in an apartment that is owned by a large university so I don't think they monitor electricity usage or anything like that.

Also, how long does it take to set up the mining equipment? I have little knowledge about computer systems and mining equipments. and I would like to mine to earn bitcoins and learn about them at the same time.

RaginglikeaBoss

sr. member

Activity: 302

Merit: 250

Never before 11 P.M.

The best bang for your buck would probably be farms of S3's being liquidated for almost nothing at the moment. Seriously, like 50 of them. Just try not to burn down the neighborhood.

mavericklm

hero member

Activity: 742

Merit: 500

i'm with adaseb on this!

buy in bulk s3 or s3+ and keep in mind the future upgrades when you buy the psu

s2, dragon is also a good choice if cheap

s1 is too much work and too little reward

spondoolies is also a good choice, and sp10 is very cheap if noise is not an issue!

adaseb

legendary

Activity: 3738

Merit: 1708

You guys are giving him bad advice with the S5. Its overpriced and pointless if he has free electricity.

Best to get inefficient miners like the KNC Jupiters or the S3. Which are almost "free" these days.

Netpyder

full member

Activity: 196

Merit: 100

Scam / Scammer Hunter

https://bitcointalksearch.org/topic/bitmain-antminer-s6-and-s7-speculation-1003216

https://bitcointalksearch.org/topic/antminer-s5-1155ghoverclock-potential-in-stock-0319gh-051wgh-902305

Tabata11

sr. member

Activity: 290

Merit: 250

Quote from: Amph on April 03, 2015, 07:55:50 AM

Quote from: kowwip on April 03, 2015, 05:44:36 AM

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

it may seems so, but with some calcualtion you can easily tell that it's not worth it even with free electricity(he said almost, which is worst btw)

you need 4-5 months ROI with antminer S5(0.36 a month and they cost minimum 1.5 btc), not worth it

better to buy bitcoin instead or you can wait for antminer s6(it should come soon) which is about 1.5 times better, this mean less than 3 months roi

Where can I find more information about the s6 miners? Is there a thread or a website I can look at?

Webnet

full member

Activity: 182

Merit: 100

DaDice! Next Generation Dice Game

after looking this hardware comparison chart. https://en.bitcoin.it/wiki/Mining_hardware_comparison u should find a miner suitable for u.

Amph

legendary

Activity: 3206

Merit: 1069

Quote from: kowwip on April 03, 2015, 05:44:36 AM

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

it may seems so, but with some calcualtion you can easily tell that it's not worth it even with free electricity(he said almost, which is worst btw)

you need 4-5 months ROI with antminer S5(0.36 a month and they cost minimum 1.5 btc), not worth it

better to buy bitcoin instead or you can wait for antminer s6(it should come soon) which is about 1.5 times better, this mean less than 3 months roi

kowwip

newbie

Activity: 28

Merit: 0

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Netpyder on April 03, 2015, 01:48:04 AM

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

with the amount of fund you have, i would consider s5 miners or wait a little till the s6 miners are out in june-july.

S6 we really don't have a date forsure on. It really depends on if you want to mine now, or wait till next generation.

Also a lot of companies are out of stock on this gen miners.

Netpyder

full member

Activity: 196

Merit: 100

Scam / Scammer Hunter

Quote from: Tabata11 on April 03, 2015, 01:39:39 AM

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

with the amount of fund you have, i would consider s5 miners or wait a little till the s6 miners are out in june-july.

Tabata11

sr. member

Activity: 290

Merit: 250

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Topic: I have $5,000 to buy equipment and almost free electricity. Where do I start? - page 3. (Read 3963 times)