Topic: Plan on mining (Read 1209 times)

How about joining a mining pool instead of solo mining. You stand a better chance since you are inexperienced.

I think ether's value will be a factor in this though.   If it goes down quickly and lots try to unload at once it can push the market down on what people pay.  I do agree warranty are normally in years which is nice.   

So there is a possibility of all selling at once.  Also add in paypal/ebay fee's they will come out of it and add up, and you have to be priced lower then newegg/amazon so I see losing there.  And possibility of scam's out there to.   Someone could use for X day's and try to do a refund.   

So it would agree on saying they are better then asics on keeping value.  But I still think there are risk's associated still with them. 

i mean they do not die as a soldable value, you can easily sell them afterward, and still they have a far better warranty than any asic, this is well knowm

i was talking about six gpu in general, you can buy six 370 if you have not enough fud, they are cheap enough, i bought 4 g1 970 gaming, i'll sell them in two months, before the next gen come out at the same price on ebay, so probably i will lose zero

Six of what GPU?   There is a cost to acquire them so I still think it all depends.   GPU's can die when I was "big" into gpu mining I saw it happen, but now I just dabble in GPU.   

One thing to keep in mind also is you mention resell value it can be pushed downed.   When GPU when down the crapper long ago a LOT of gpu's hit the market at once so it did effect the market price.

But please show more of the math behind this six rig system.  What GPU's are you using? What was cost to acquire?   GPU's can still add up in cost.   I do agree it depends though on so many factors.

you currently earn more with gpu, a six rig gpu can earn you 0.03 on ethereum per day, i doubt you can do the same with old asic

initial investment on gpu is less of a thing to worry about, because unlike asic, gpu don't die after 3 months, they have a high resell value

A bit childish to be in a name calling competition on the internet don't you think?

Not necessary true with free electricity.  With free electricity the cost of the miner (or GPU's in altcoins) really is a big factor.  So don't forget that initial cost of buying the equipment.   

With so much old asic gear it could be a had cheaper then say a 300 series GPU or such.  So depends all on price really on equipment.

If you have free electricity, it is better to mine. But you should mine altcoins, they are more profitable than bitcoin.

You are welcome   good luck at whatever you try in the way of investing.

Crypto is a high risk high reward investment for sure.   If you don't want risk.... this is far from what your looking for.   There are much better regular investments if you want less risk.

Traditional less risk is like stocks or high rated bonds.   But they wont have gain potential as crypto.

Will suspend the project then. Maybe invest on something else.
I dont like risky investment

Most can't justify moving countries based on finding electricity.  You would need a massive amount of initial investment for setup cost.    I don't think you will be able to do it for 10k personally if your thinking you will live off of it safely.

A lot of the free/near free electricity countries are pretty dangerous.   Add costs like security and it adds up quick.  I think you would be better off sending gear and not moving with it with under a 10k investment.   Are you able to say country?   If China.. I would say you are heading a decent route.... some places though just are not great and very risky.

On setup you need to get a place to put miners so decent initial cost right there.   Then add electricity equipment cost, and install.  Again adds up again.  Add up PSU's needed.   By the end of this your 10k... you are buying a lot less miners then I think you thought.

I honestly don't think you will be able to live off a 10k investment unless a pretty sketchy company.

Wow . Thanks bud. This was so elaborate. Good to know there are still sensible people like you here. Once again thanks

Little dollars for power is nice,but

1) is it hot?
2) miners are hot
3) can you provide 5kwatts of power?
4) 5kwatts = 20000 btu of heat.
5)can you provided wired Internet ?


Let's say you can do all of the above  

Then the s-7 from bitmaintech can do about 4.6 or 4.7 th.

You run four of them using about 5 kwatts.

You buy four of them for about 2000 usd. If someone gives you four 100 usd coupons.

So I give the coupons you pay the $2,000  to bitmaintech and you are ready to mine right?  no wrong you need 4 psus so  buy them from bitmaintech cost you around 600 total of 2600.

A few wires maybe a router a gigabyte switch

 2700 so are you ready maybe a cooling fan maybe not.

Let's say you spend your 2700 you have four miners doing just about 19.2 th

What   Does it earn?

Plug in 19.2 th on a calculator and see what you get.


two projections below

 1800 back   at 2% jumps
 1600 back   at 4% jumps

then the ½ ing comes.  All shit breaks loose no one know what will happen.



Actually if I could do the above for 2700. Getting the cheap power

   I know I would take the shot.

Most people here will tell you do not do it.

but I have zero idea if you can do 5000 watts at 1 cent plus keep your place cool and handle the noise it will make.

Hint if you are going to a hot place you will really need to worry about cooling it off.

I get you points and I must say they are valid
As regards country,  it's personal but believe me I will get free electricity.
Am not actually moving countries basically because of that. Am moving to supervise a project and want to use the opportunity to make some bucks off mining since electricity is free.
As regards mining machines,  I don't have any in mind. Not ready to spend more that 10k on this though.
I know I need to do research. I posted this so people that have done it can tell me exactly how they did theirs and how much they spent

A nicer way to put it OP is your plan lacks planning, and we cannot possibly help with info provided:


You you have a LOT of info you need to find out on your own before we can help.

Logically  you are telling the world that you are an idiot.

"Too many idiots here. I really do hate idiots
If you are an idiot fuck you"
Well, fuck you too!

I plan on moving to a country where I will be paying little or $0 dollars for electricity.
Do you think I will make cash if I go into mining?
If yes, how much or how many btc do you think I will make daily.
How much will the mining machine/rig cost and which is the best mining machine/rig to buy.
What coin is best to mine.
I will like to get practical replies from people into mining.
No noob replies or replies gotten from Internet please.
Don't tell me to use mining sites like scrypt etc.