if you have free electricity and 10k

Exsumane

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Quote from: notlist3d on April 06, 2016, 02:50:33 PM

Quote from: HelioHash on April 06, 2016, 12:33:45 PM

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Pick some ASIC for ALL money and start
mining right now, so you have a few month
before block halving happen and other miners
add more hashpower to network...

Going all in to start is a horrible idea. Going from no miners to mining 10k worth of equipment... huge growing pains. Start off smaller and add gradual with starting. The electrical wiring, cooling, networking, psu's, etc. Just a lot of thing he would have to learn all at once and if your talking about 10k worth of gear... i argue it's to much for most on jumping in first miner.

Starting with 1 S7 and trying it even is better then jumping in to big at once. All or nothing is not a good way to invest in general.

That is right. I have spend last few months to learn about GPU mining. It is a very difficult task to begin with.

notlist3d

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Quote from: HelioHash on April 06, 2016, 12:33:45 PM

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Pick some ASIC for ALL money and start
mining right now, so you have a few month
before block halving happen and other miners
add more hashpower to network...

Going all in to start is a horrible idea. Going from no miners to mining 10k worth of equipment... huge growing pains. Start off smaller and add gradual with starting. The electrical wiring, cooling, networking, psu's, etc. Just a lot of thing he would have to learn all at once and if your talking about 10k worth of gear... i argue it's to much for most on jumping in first miner.

Starting with 1 S7 and trying it even is better then jumping in to big at once. All or nothing is not a good way to invest in general.

HelioHash

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https://twitter.com/HelioHash

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Pick some ASIC for ALL money and start
mining right now, so you have a few month
before block halving happen and other miners
add more hashpower to network...

Exsumane

newbie

Activity: 30

Merit: 0

If you have free electricity, it is better to mine the altcoins. They use a lot of electricity and the GPU are worth something when you sell them.

Amph

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Quote from: zerocoder on April 04, 2016, 04:41:47 PM

I got free electricity as well but my suggestion will be to stay away from BTC miners. Wait until halving, right now mining firms using 16 nm chips and even 16 nm chips are not that profitable so maybe BTC will die or algorithm or block size will change in either way stay away from BTC this is not a good time to start mining. Maybe you can think of investing on BTC but this is risky (consider yourself warned)

where is your source that 16mn is not profitable if they are even using those? right now s7 is profitable, so a 16nm with double the efficiency must be more profitable to run, not by double like many think, because the efficiency is already at minimal, so the gain is very low

but the gain is still tangible

zerocoder

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I got free electricity as well but my suggestion will be to stay away from BTC miners. Wait until halving, right now mining firms using 16 nm chips and even 16 nm chips are not that profitable so maybe BTC will die or algorithm or block size will change in either way stay away from BTC this is not a good time to start mining. Maybe you can think of investing on BTC but this is risky (consider yourself warned)

adaseb

legendary

Activity: 3808

Merit: 1723

If you have unlimited free electricity then buy the cheapest miners you can get.

I had limited free electricity and bought a bunch of S1,S2,S3 and sold them for the same price I paid. However didn't make much because my power was limited and they didn't hash as fast such as the new miners.

leowonderful

legendary

Activity: 1624

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Bitcoin FTW!

You could make a really nice Ethereum rig with 10k and even less with GPU discounts on websites like newegg. Ether is very profitable atm so with a fair investment like ~2.5K you could be making ~150mh/s and raking in a pretty sizeable profit from it. If you're going to mine Ether, don't hold TOO long. It's still growing and there is the off chance of it dying, so trade it for bitcoin regularly unless you're a serious trader. The best GPUs for Ethereum tend to be AMD cards in the R9 200-300 series, because those offer the best performance for mining over "more serious" cards like GTX 900s and Titans. I'm more of a Nvidia fanboy, but for mining Ethereum and basically all altcoins, AMD is king.

traderbit

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Quote from: crazyearner on April 03, 2016, 05:41:23 PM

Quote from: traderbit on April 03, 2016, 05:35:51 PM

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Firstly maybe i wouldn't invest in mining, but if i do then i would buy the latest mining rig like the Antminer S7, rent a place to run this/these(I don't plan to have them in the living/bedroom)

To be honest now SHA mining is becoming far less profitable than before and buying S7 now would not make RIO back due to the fact in next 3 half month or so will take maybe 6 months solid mining to make RIO but that would be without any diff changes in diff. Id just consider buying for ETH type coins or buy coin hold for fair while and sell later when prices gone up.

It is a fact that mining is being less profitable, but if the bitcoin price increases then there is a hope. Investing in ETH has become interesting the last weeks/months when the price were doubled/tripled, unfortunately I didn't invested (even though i traded for a limited time) and seeing how much has been grown it's fantastic, this would be better and faster to get the ROI + profit but has a higher risk.

crazyearner

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Quote from: traderbit on April 03, 2016, 05:35:51 PM

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Firstly maybe i wouldn't invest in mining, but if i do then i would buy the latest mining rig like the Antminer S7, rent a place to run this/these(I don't plan to have them in the living/bedroom)

To be honest now SHA mining is becoming far less profitable than before and buying S7 now would not make RIO back due to the fact in next 3 half month or so will take maybe 6 months solid mining to make RIO but that would be without any diff changes in diff. Id just consider buying for ETH type coins or buy coin hold for fair while and sell later when prices gone up.

traderbit

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Activity: 798

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Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash

how much you will invest in bitcoin mining and when ?? right now or later and why

Firstly maybe i wouldn't invest in mining, but if i do then i would buy the latest mining rig like the Antminer S7, rent a place to run this/these(I don't plan to have them in the living/bedroom)

NeuroticFish

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Looking for campaign manager? Contact icopress!

I'd buy SH gpus and mine alts.
This would not even require all the 10k.
After you've learned enough and earned back some of the money, you can give a shot to bitcoin mining if you really think you want to do that too.

crazyearner

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Activity: 1820

Merit: 1001

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash
how much you will invest in bitcoin mining and when ?? right now or later and why

I would look to mining Ethereum and other crypto on same algo. Along with buying soem ETH at low prices and Dagger-Hashimoto crypto too

Free elec can make a good RIO in short time with good gpus to mine with on ETH and Dagger-Hashimoto coins alike.

BlueTemplar

full member

Activity: 164

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Gone for a minute now back again

This is the story of my life except I don't have 10k!

Where I live I have a ton of solar access and scouted locations for mining, did the research etc but no startup money T_T

aakashsangwan

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PUGG.io

Quote from: xhomerx10 on March 22, 2016, 08:27:20 PM

Quote from: hack4love on March 22, 2016, 08:08:20 PM

mining rigs

can any one tell me what the best hardware for the job

and what cryptocurrency it mine ?

Instead of asking for advice in here of how to invest your 10k in mining, why don't you try to hire someone with real knowledge and experience to make you a business proposal.
People in here are giving you opinion which is not sound investment advice. Some people don't even know but they are advising you anyway.
There's a guy in here who does hardware reviews and how-to's. There's another who hosts miners and builds his own. I don't know if they would do this for you but it wouldn't hurt to ask. It would be money well spent.
...or you can continue on your present tack and waste your time and money.

Your advice sounds good, can you give me the link of those persons who can help me in setting up the mining pool for Alt coins. because mining in bitcoin is too hard it is better to mine alt coins through which i can ROI in 3 months.

leowonderful

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Bitcoin FTW!

Quote from: gkv9 on April 03, 2016, 03:36:12 PM

Even if anyone would have free electricity, mining is not an option to plunge into, these days, as halving is coming and nobody is sure whether they will still profit or not...
Many would leave this even as a hobby just because of the price, it needs to get to somewhere near $500 - $600 for miners to be able to profit at halved rewards...

If you are interested in just Bitcoins, then just buy them and trade...
Don't go for anything which you are not aware of...
Instead, just buy and hodl... Wink

Of course some people are just interested in the mining process and minting a block imo is much more exciting than trading bitcoin on some exchange. The latter provides more profit over time if you're a good trader, but even if you're not a good trader you can invest SOME bitcoin into trading (10-20$) and learn market patterns and maybe earn profit. If you don't, well, you have the satisfaction of knowing that you learned a bit about markets and only spent a few bucks. Mining is much more interesting and "fun" imo, but trading will probably get you more profit and you're not buying hardware that could get obsolete. Word of advice- don't hold too much btc on exchanges as we don't want another cryptsy or mt.gox to happen to you.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Even if anyone would have free electricity, mining is not an option to plunge into, these days, as halving is coming and nobody is sure whether they will still profit or not...
Many would leave this even as a hobby just because of the price, it needs to get to somewhere near $500 - $600 for miners to be able to profit at halved rewards...

If you are interested in just Bitcoins, then just buy them and trade...
Don't go for anything which you are not aware of...
Instead, just buy and hodl... Wink

xhomerx10

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Activity: 3808

Merit: 7912

Quote from: bryant.coleman on April 03, 2016, 11:33:12 AM

Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash
how much you will invest in bitcoin mining and when ?? right now or later and why

Lol... everyone is going to attack me after reading my post.

If I am having 10K in cash, I am going to buy coins from a trusted exchange using that cash rather than going for mining. Mining is time consuming, and takes a lot of effort. It is not meant for lazy people like me.

BTW... if I purchase mining rigs using all that money, there is no guarantee that I will be getting a ROI. Newer and more efficient versions of mining rigs are being marketed every now and then. Even if I purchase the most efficient one available in the market right now, after two or three months it will be obsolete.

Don't worry about being attacked for your posts. Nobody reads posts anymore, they just read the OP.
Case in point; I was not attacked for my post
You didn't read it did you? <--- oh man that's almost an attack Wink

bryant.coleman

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Quote from: hack4love on March 15, 2016, 08:00:27 PM

if you have if you have free electricity and 10k cash
how much you will invest in bitcoin mining and when ?? right now or later and why

Lol... everyone is going to attack me after reading my post.

If I am having 10K in cash, I am going to buy coins from a trusted exchange using that cash rather than going for mining. Mining is time consuming, and takes a lot of effort. It is not meant for lazy people like me.

BTW... if I purchase mining rigs using all that money, there is no guarantee that I will be getting a ROI. Newer and more efficient versions of mining rigs are being marketed every now and then. Even if I purchase the most efficient one available in the market right now, after two or three months it will be obsolete.

raspberryseltzer

newbie

Activity: 22

Merit: 0

I have limited free power - enough to run a few S7. I bought these in December, and am no where near break even so far. In your calculations, better factor in power supplies, shipping, down time (+++++), halving, etc. Also factor in your time - the first time you work on this, it will take you a few hours to get everything setup and running smoothly. You'll need to spend a few hours a week watching these machines, and verifying their output.

I'm sure I'm doing better than most, but the hardware producers (Bitmain) price their gear such that you will barely make a profit after running the gear for a year. After that year, the machines are essentially out of date, and worth very little.

Topic: if you have free electricity and 10k (Read 3399 times)