If you get free electricity and can afford a miner...

jmintuck02

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Quote from: LFC_Bitcoin on February 05, 2016, 12:22:50 PM

I'd definitely try & mine if I was able to get free electricity. Unfortunately I didn't get into bitcoin until 2014 so I'm just a HODLER.

I wish you good luck with your venture though.

I wasn't into BTC until later, as I lost the privkey and so forth of some other wallet YEARS ago, as an unbeliever. Now, with FREE electricity and a miner, it just helps me

so much to be able to do this. I couldn't be more pleased that I dove and bought thee miner. It was expensive, but it was what I could find with what was around. Now

I can catch up where ever I can. Found a good coin at the moment that I am going to milk for a while.

LFC_Bitcoin

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Quote from: jmintuck02 on December 30, 2015, 05:17:08 AM

I was very lucky. I have free electricity due to having disability supports in place so I can live much like society, only with lower income ATM.

Luckily, out of that, I get free electricity and can run an Antminer S3, so far. I managed, by the skin of my teeth, so to speak, to afford the damn

Antminer S3.

If you are lucky to raise 250 USD or your fiat to get at least an Antminer S3, try and get one and mine ALTCOINS and learn about trading, if you

didn't already. Hey, free electricity in a given case, be it college, paid for by gov agency or whatever, take the opportunity. I had to scrape up the 260

for the miner.

Check the algorithm of your miner; mine is SHA-256, and find a good coin with a passable value per coin. Example; 1.00000000 someoddcoin is

BTC 0.00000250 at least, or if you can, use the smaller values to mine and save for a time. Cash it in when you see a spike of the coin in YoBit, or

other like currency exchanges. You want to see the trade price bar up and NOT down. When it rises, then sell if it reaches your satisfaction.

Save some to get Antminer S4 or higher if you wish with trading and free electricity.

Don't use Cryptsy for now, as there has been some crap happening and everything needs sorting.

I'd definitely try & mine if I was able to get free electricity. Unfortunately I didn't get into bitcoin until 2014 so I'm just a HODLER.

I wish you good luck with your venture though.

jmintuck02

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I like something, anything to get me started. I mine them and look for new rising coins as long as difficulty is not yet so great. Sometimes I hit a coin that is creeping

up in selling price for btc and start mining it. Sometime, I hope to get AT LEAST a 1Ths miner, unless I get luckier and buy something higher than 1 Ths.

In my experience I am just a bagholder in a couple shitcoins as of the moment, NOTHING to do with mining, but because I tried to invest in t he two. But, mining

altcoins, I have had much better luck, most of the time.

LandOwner

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Quote from: BruceLee007 on January 23, 2016, 01:33:29 PM

i still wouldnt mine any bitcoins if i would get free electricity and afford a miner, it would be just a waste of time as it would take a lot of time to make the return of investment, not even talking about making profit

If you have free electricity and can afford the miner, then it is OK to mine. But the income might not worth your effort.

Pk880058

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Quote from: jmintuck02 on December 30, 2015, 05:17:08 AM

I was very lucky. I have free electricity due to having disability supports in place so I can live much like society, only with lower income ATM.

Luckily, out of that, I get free electricity and can run an Antminer S3, so far. I managed, by the skin of my teeth, so to speak, to afford the damn

Antminer S3.

If you are lucky to raise 250 USD or your fiat to get at least an Antminer S3, try and get one and mine ALTCOINS and learn about trading, if you

didn't already. Hey, free electricity in a given case, be it college, paid for by gov agency or whatever, take the opportunity. I had to scrape up the 260

for the miner.

Check the algorithm of your miner; mine is SHA-256, and find a good coin with a passable value per coin. Example; 1.00000000 someoddcoin is

BTC 0.00000250 at least, or if you can, use the smaller values to mine and save for a time. Cash it in when you see a spike of the coin in YoBit, or

other like currency exchanges. You want to see the trade price bar up and NOT down. When it rises, then sell if it reaches your satisfaction.

Save some to get Antminer S4 or higher if you wish with trading and free electricity.

Don't use Cryptsy for now, as there has been some crap happening and everything needs sorting.

first of all mining itself is now too hard and in that mining alt coins is very risky as their are so many coins which are now valueless so it is better to do trading in bitcoins and earn little but promptly.

BruceLee007

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i still wouldnt mine any bitcoins if i would get free electricity and afford a miner, it would be just a waste of time as it would take a lot of time to make the return of investment, not even talking about making profit

helloeverybody

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If i had free electricity id be buying a shiney new miner soon as possible. With free electricity you should cover minning rig cost pretty quickly and then start making a nice profit in no time. Win win id say. I dont know how long you could get away with milking it though.

socks435

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I'm looking for free spin.

If you get free electricity it will be profitable using any miner and if you can afford s7 you can gain more bitcoins fast.
I think mining other altcoin is not good because some of them are scam in few days or months. So its better to mine bitcoin than other altcoin...

Amph

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Quote from: Rufsilf on January 23, 2016, 08:02:04 AM

Quote from: zodiac3011 on December 31, 2015, 06:40:12 AM

Well you shouldn't mine alternative coins at all Grin

it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin

It's a much better option in my opinion

If you mine the Ethereum, it might be worth it. The price has go up a lot recently. Some new application will be launched.

if the price go up so the diff, the ratio between those two will remain the same, so ethereum is not more profitable right now

last time i've checked you you can do $60 a month with a single 290x, which is mining at loss basically unless you have cheap energy, with nvidia or amd fury it should be better, they are more efficient

see http://badmofo.github.io/ethereum-mining-calculator/

Rufsilf

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Quote from: zodiac3011 on December 31, 2015, 06:40:12 AM

Well you shouldn't mine alternative coins at all Grin

it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin

It's a much better option in my opinion

If you mine the Ethereum, it might be worth it. The price has go up a lot recently. Some new application will be launched.

zodiac3011

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Well you shouldn't mine alternative coins at all Grin

it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin

It's a much better option in my opinion

helloeverybody

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All good as long as whoever does pay the electricity bill doesn't get suspicious of why your electricity bill is so high all the time. Id sure be wondering how anyone's managing to use so much, Id imagine the first thought would be that you have the heating on all day everyday or your growing some sort of fancy plants =p . If its is free though then i would do the same,

LandOwner

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If you know about computers and treat it as hobby, then it is OK to mine. Otherwise, it is not worth your time.

VirosaGITS

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Quote from: danstanit on December 30, 2015, 10:52:52 PM

I have an office space I pay $315 for 850 square feet every month and it includes free electric I think this might be a great way for me to save on paying my monthly cost with an antminer s5

If you can get it for 200$USD to your door, then that would not be too bad. You could get a 650~850 EVGA PSU that would last you several miners, too. A couples of S3 for 60$ Each to your door could also work, then a 140$ EVGA G2 1300 or something to power them with some breathing room.

danstanit

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I have an office space I pay $315 for 850 square feet every month and it includes free electric I think this might be a great way for me to save on paying my monthly cost with an antminer s5

notlist3d

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Quote from: jmintuck02 on December 30, 2015, 05:40:31 AM

Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one. I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

These are kinda big if you are limited in room on your house. They will use pretty much your whole standard 120 breaker I'm guessing. You won't have a ton of electricity on that line to power other things.

But when mentioning miners like those be careful of noise and power. It's a lot more on both then a S3. And really S4 and S7 are completely different markets.

Amph

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you have free electricity, but i doubt it's also unlimited, so it depend on how many wattage free you have

i would go with s7 in any case, because you can have more hash with it, since it's more efficient

VirosaGITS

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Quote from: jmintuck02 on December 30, 2015, 05:40:31 AM

Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one. I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

Well, still ouch. Can get a server PSU for 20-30$. Or a good ATX PSU for 60$. I'm not sure why you paid 250$ thats enough for 2 S3+PSU.

Trading is gambling, unless you're margin trading.

jmintuck02

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Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one. I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

Rufsilf

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S5 is more efficient than S3. If you have to pay for low cost electricity, you can still use S5.

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