Im new and need some guidance please im from the UK

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Quote from: Twisted118 on February 12, 2016, 08:24:22 AM

Hi im looking to setup my own mining rig i have around £450 to get started im wondering if there is any websites or recommendations people could suggest to me

Appreciate any help

Need to know what your power costs per kWh but your electric cost is probably too high to have a chance of making a profit mining at home. And mining is becoming less and less profitable as difficulty increases. The smart move is to just buy bitcoin and hold, think of it as part of your retirement plan.

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Quote from: RichBC on February 13, 2016, 05:04:25 PM

If you are in the UK then at best your electricity cost will be 10 Pence /KWh more likely 15 pence? You will be loosing money on any of the Miners in the post above, and loosing even more as the Difficulty continues to rise. S7 would make a small amount of money for a couple of Months but then it will be loosing, also expensive.

So bottom line is it's a not starter at this point in time. Sad

Rich

well he may have a strange power setup

So I will ask what does power cost you?

I am USA based and I get 9.7 usa cents per kwatt for the winter.

But I have a few free power deals and lost cost power deals

So I can run 20th using around 5200 watts but pay for only 3800 watts at the 9.7 cents.

And I am struggling to turn profit but I am turning profit.

RichBC

hero member

Activity: 588

Merit: 500

If you are in the UK then at best your electricity cost will be 10 Pence /KWh more likely 15 pence? You will be loosing money on any of the Miners in the post above, and loosing even more as the Difficulty continues to rise. S7 would make a small amount of money for a couple of Months but then it will be loosing, also expensive.

So bottom line is it's a not starter at this point in time. Sad

Rich

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

I would advise to go for either S5 (two of them) or SP20 (If you get lucky, you might squeeze two as well). I'm assuming you also don't have any PSU yet so would advise to go with the first option so you would have enough funds to buy PSU as well.

Antminer S5: http://www.amazon.com/AntMiner-S5-~1155Gh-0-51W-Bitcoin/dp/B00RCTIY4G/ref=pd_sim_147_1?ie=UTF8&dpID=41J-1vxyo%2BL&dpSrc=sims&preST=_AC_UL160_SR160%2C160_&refRID=09WYRYRP9NM157KH9014

Spondoolies-Tech SP20: http://www.amazon.com/gp/product/B00RC288E4?creativeASIN=B00RC288E4&linkCode=w01&linkId=VTREAFWEM3XWX2UH&ref_=as_sl_pc_ss_til&tag=weusecoins-20

For the PSU maybe go with the following:
EVGA 1300 G2 : http://www.amazon.com/EVGA-SuperNOVA-Crossfire-Warranty-120-G2-1300-XR/dp/B00COIZTZM/ref=sr_1_1?s=pc&ie=UTF8&qid=1455294846&sr=1-1&keywords=EVGA+1300+G2

Jet Cash

legendary

Activity: 2828

Merit: 2472

https://JetCash.com

If you are thinking of mining Bitcoin, you may find the electricity costs too high over here.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

The board you're looking for: https://bitcointalk.org/index.php?board=81.0 . This one too should be moved in a few mins, either you can view the threads in the board I specified or you can wait for a moderator to move your thread and then for the 'experts' to answer.

Twisted118

newbie

Activity: 1

Merit: 0

Hi im looking to setup my own mining rig i have around £450 to get started im wondering if there is any websites or recommendations people could suggest to me

Appreciate any help

Topic: Im new and need some guidance please im from the UK (Read 740 times)