Topic: if you have free electricity and 10k - page 2. (Read 3411 times)

If I have free electricity and 10 k money, I will some graphics and mine the Ethereum. It is the most profitable.

Sidehack is knowledgeable and also very trustworthy.  I'm not sure he does consulting.  Dogie is the other I was referring to but I know nothing about him beyond his comprehensive guides.

Go to hardware section and look at sidehacks threads.  He has proven he can make gear with Compacs at a good scale.   There are VERY few out there like him for most building is out of question.

And really the magic still is getting chips.  And there have been positive looking posts about sidehack and bitfury.... which most would love.  I have not been keeping up on it though as much as I was.  But he has done amazing things.

builds his own!!!
give me links 

for both of them  thanks

 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.

mining rigs

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


and what cryptocurrency  it mine ?

I d build 10 ether mining rigs and ROI in 3 months. Think about next move later.

i would wait in any case the next move in the asic department, this generation is done, wait for the next 14/16nm or whatever they will be and buy them early, before anyone else

then sell after 3 months at worst, repeat

With free electricity I should start mining with few rigs. You can change between the different cryptocurrency because of the changing difficulty.

At this point even with free electricity is seems the only people making money off of mining (other than the large farms) are the hardware manufacturers and the shipping companies themselves.  UPS/DHL/FedEx probably made more profit so far this year from miners than the actual miners have lol.

  The reality of mining is that the larger players are making the money - you as a small player are going to have to pay a premium for your mining equipment so even with free electricity, you are in all likelihood not going to break even.  Do you have power supplies for the miners?  If not you have to buy those too.

 Antminer S7 (batch 13) - $637
 Recommended PSU       - $140
 ----------------------       --------
       Total                         $777

 You also have to pay shipping and I would imagine your government will want some taxes and/or duty... maybe even a bribe to let it come into the country. 

 Now, running flat out @ 4.76 TH/s you can presently make about $6 per day in bitcoin.  Reduce that by 5% in the next day and a bit when the difficulty changes so we might as well start at $5.70 per day.  Let's say you get lucky and the duty/shipping and taxes are only $123 so your initial outlay is $900 for an Antminer S7 (it will be more). 

 900/5.7 (let's not even think about the difficulty change every 14 days yet)

You're looking at 158 days to get your money back but wait, there's a reward halving in 117 days!   After 117 days, you'll have made $667 and you'll need another 81 days after the halving to make up the remaining $233.  All in all, not considering the difficulty changes if you can start tomorrow, you're looking at 198 days conservatively to get your initial outlay back and that's IF there are no difficulty changes and IF the device runs that long without problems.  Also, most pools are going to charge you a fee to let you mine (usually 2%); don't forget to subtract that. 

 Maybe you can get some cheap S5s - they run at a paltry 1.155 TH/s so you're going to see about $1.45 per day from it.  You might save some money per TH in buying that over an S7 but it's already been well used and likely to have issues.  Also, you still need a power supply and the shipping isn't going to be any cheaper for buying an obsolete device.

 You can play with the number here: Bitcoin Mining Profit Calculator
I believe the "Growth" is for each 14 day period.  The next "Growth", will be 5% but you can enter a longer term estimate.
Also, since your electricity is "free" just enter 0 for "Power usage" or "Cost per kWh" (or both wouldn't hurt)


 TL;DR - Unless you need a noisy, heat-producing hobby, forget about mining.  If it's bitcoin you want, buy bitcoin rather than mine.
 

It's hard to gauge prices over here with so many separate sellers and no real way to pull data.  I normally use ebay to find price and even after fees you can get a decent amount above 100.   The price comes more comparable to S7 at ebay prices.  If they are just bringing 100 dollars here.... I would look at going ebay route as far as seller.

If you have free electricity and can get S5 for 100 including shipping... then maybe i would suggest it more.  Hard to compete with S7 right now with it at 637.   It also has warranty and much more efficient.  Even with free electricity means more miners you can run due to efficiency.  

i have unlimited free  electricity

i will buy Air Conditioner beside the weather is great 

the place will be mine at 1/4/2016

i have no pus
 

120 volt

what you meen
How much power do you have? 

how much free power do you have?

how well can you cool where you mine?

what is your location?

country works.

and if usa the state works.

do you own any power supplies?

do you have 240 volt or 120 volt?


How much power do you have? 

 

5 kwatts = 20000 btus of heat
10kwatts = 40000 btus of heat

my garage can run 4kwatts in cooler weather
 6 kwatts in cold weather

only 1.5 in the summer heat.


lastly   what is you ability to handle noise.  this gear is loud

You might be able to get S5's at 100$ now. At least over here. I'm not sure why the value of S5's has fallen so low, its still 2 Months ROI on free electricity so i figured lots of people with it would be buying them. *shrug*

if electricity is free, then go ahead.
i would certainly try to set up mining system not just to earn but also to learn how mining works. things would be different especially if you can mine bitcoin and other altcoin as well.

With how far S7's are dropping though I think I would send him for a S7 over a old S5.  It is surprising but considering price per hash.... I see S7 as more attractive with just a little more spent.  That little extra get's a LOT more efficiency.

So unless it's a deal go S7 in most cases.  I just don't think S5's have dropped as quick in value as S7's have with bitmain lowering prices.

I would advise to jump into the mining after the halving with half of it (5k). Surely there will be new mining rigs popping out since the signs of mining rigs getting cheaper lately is one of it, plus it will be much more efficient (even though that won't apply to you since you said free electricity). The other half, I would by BTCitcoins now and see after the halving, how it's price goes up and instant profit, without any effort

Guess it depends where you are. If you were in Canada i'd definitively talk to Allinvain. I sell some hardware but not 10k worth. And if you're outside North America, shipping would probably kill the deal.

Regardless, try the marketplace here on the forum. Don't do any trade without Escrow.

couples of S5's  from where to buy those eBay  or there is specializes site in selling   used bitcoin mining hardware