Mining with free (paid by others) electricity

btcgolong

sr. member

Activity: 451

Merit: 269

Quote from: NoozziSs on June 17, 2017, 05:23:04 PM

Yeah I am thinking the same.

Since I have free electricity I can only invest in "outdated" asics because they are cheap to buy.

And yes I am looking around 100 euros for a miner + power supply.

Thing is this would be my first time starting to mine and I lack loads of info but I keep searching on forums. And my conclusion is that it is worth it doing it like this.
Just buying cheap outdated mining asics and keep them going until they die, some bitcoins will be used to get more miners and some will be kept in my wallet for future, who knows how much a BTC will be in a few years, as I can see it tends to go up and don't see a reason why BTC will ever fail or disappear.

To me it seems like a good plan that will bring some profits long term.

Kind regards,
Noozzi

Bitcoin is relatively easy to mine, buy, sell, and trade; it's a mature community now. If you love computers and technology - mining is fun.

NoozziSs

newbie

Activity: 2

Merit: 0

Yeah I am thinking the same.

Since I have free electricity I can only invest in "outdated" asics because they are cheap to buy.

And yes I am looking around 100 euros for a miner + power supply.

Thing is this would be my first time starting to mine and I lack loads of info but I keep searching on forums. And my conclusion is that it is worth it doing it like this.
Just buying cheap outdated mining asics and keep them going until they die, some bitcoins will be used to get more miners and some will be kept in my wallet for future, who knows how much a BTC will be in a few years, as I can see it tends to go up and don't see a reason why BTC will ever fail or disappear.

To me it seems like a good plan that will bring some profits long term.

Kind regards,
Noozzi

btcgolong

sr. member

Activity: 451

Merit: 269

Quote from: NoozziSs on June 17, 2017, 02:56:33 AM

I have a opportunity to start mining without having to pay the electric bill.
The downside is I lack allot of information, that's there reason I am on this forum.

Since I am at the very beginning and still young I can't afford to invest that much in a mining rig.
Found 4 x Spondoolies SP20 1.7TH with a total capacity of 6.8TH. I live in eastern Europe and finding a miner is a bit harder that the western countries.

I used online mining profitability calculator and the outcome was 0.9 BTC mined over a year with 6.8TH, keeping in mind I have access to free electricity it still looks profitable to me.

My question is if you had free electricity how would you start mining? Is it worth to buy these Spondoolies SP20? What are options should I look at and what else to consider?

Kind regards,
Noozzi

Can you get them for $100 each? Also difficulty will increase as the year goes on...but what the heck - go for it, you never know, bitcoin might be at $5000 by the end of the year.

FA wings

full member

Activity: 228

Merit: 250

If you have free electricity， it's all worth it！

tubexc

hero member

Activity: 496

Merit: 500

That depends on how much you pay for
each sp20.Otherwise is difficult for you to roi.

NoozziSs

newbie

Activity: 2

Merit: 0

I have a opportunity to start mining without having to pay the electric bill.
The downside is I lack allot of information, that's there reason I am on this forum.

Since I am at the very beginning and still young I can't afford to invest that much in a mining rig.
Found 4 x Spondoolies SP20 1.7TH with a total capacity of 6.8TH. I live in eastern Europe and finding a miner is a bit harder that the western countries.

I used online mining profitability calculator and the outcome was 0.9 BTC mined over a year with 6.8TH, keeping in mind I have access to free electricity it still looks profitable to me.

My question is if you had free electricity how would you start mining? Is it worth to buy these Spondoolies SP20? What are options should I look at and what else to consider?

Kind regards,
Noozzi

Topic: Mining with free (paid by others) electricity (Read 702 times)