Should i just move to china and farm bitcoins? - page 2.

Xialla

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Quote from: Sakarias-Corporation on June 05, 2015, 07:05:12 AM

Should i just move to china and set up a small Bitcoin farm ?

to China? I never been here before, but for me it seems like place, where you need lot of contacts to gov, some officers etc. and shit lot of luck to make this happen.

in Washington, you need just money and it is imho much more safer at similar costs.

jimmothy

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Quote from: Sakarias-Corporation on June 06, 2015, 03:40:16 PM

Quote from: subSTRATA on June 06, 2015, 03:29:10 PM

Quote from: Sakarias-Corporation on June 06, 2015, 02:59:42 PM

I've done a rough calculation where I've rounded everything up, according to my calculations, if I would only spend 15 BTC I'd go ROI after 8 months, which sounds pretty good (I've added a 8% increase in difficulty every 12th day)

the ROI might be a little longer if you have to use some of the mined coins for daily expenses as well, just something to keep in mind. another thing to keep in mind is upgrading and maintaining your miners, ROI might be further off than 8 months.

Well according to my calculations I'd have enough to make it month to month, but I see where you're getting at, anything that can go wrong will go wrong.

I've never got these numbers, or anything closse to it with Swedish rates.

Can you share your calculations as well as sources for electricity rates? It sounds like you're comparing the lowest industrial electricity rates in China to residential rates in Sweden.

Also are you really considering moving across the planet for a possible ROI of a few btc?

crazyivan

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Why China? Iceland seems more acceptable.

Sakarias-Corporation

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Quote from: subSTRATA on June 06, 2015, 03:29:10 PM

Quote from: Sakarias-Corporation on June 06, 2015, 02:59:42 PM

I've done a rough calculation where I've rounded everything up, according to my calculations, if I would only spend 15 BTC I'd go ROI after 8 months, which sounds pretty good (I've added a 8% increase in difficulty every 12th day)

the ROI might be a little longer if you have to use some of the mined coins for daily expenses as well, just something to keep in mind. another thing to keep in mind is upgrading and maintaining your miners, ROI might be further off than 8 months.

Well according to my calculations I'd have enough to make it month to month, but I see where you're getting at, anything that can go wrong will go wrong.

I've never got these numbers, or anything closse to it with Swedish rates.

subSTRATA

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Quote from: Sakarias-Corporation on June 06, 2015, 02:59:42 PM

I've done a rough calculation where I've rounded everything up, according to my calculations, if I would only spend 15 BTC I'd go ROI after 8 months, which sounds pretty good (I've added a 8% increase in difficulty every 12th day)

the ROI might be a little longer if you have to use some of the mined coins for daily expenses as well, just something to keep in mind. another thing to keep in mind is upgrading and maintaining your miners, ROI might be further off than 8 months.

Sakarias-Corporation

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I've done a rough calculation where I've rounded everything up, according to my calculations, if I would only spend 15 BTC I'd go ROI after 8 months, which sounds pretty good (I've added a 8% increase in difficulty every 12th day)

adaseb

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I think relocating somewhere just to mine is crazy. What will you do by the time you get there and set up and the difficulty doubles and price halves?

Why don't you just rent an apartment where the power is included with the rent? Most old buildings are like this.

crazyearner

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Id move somewhere that has energy cheap land cheap and whorehouses cheap. Buy up some whorehouse for mining in, calculate total land cover and make upgrades. Install some solar panels some wind turbines and some heat converters, and some water turbines for local river. Sell energy back to energy company reduce total cost or even have generators for no cost what so ever or very little. Generate other alts make more BTC than mining BTC direct. Take me with you and show you how its all done

gallery2000

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Quote from: Biodom on June 05, 2015, 10:16:13 PM

Quote from: gallery2000 on June 05, 2015, 09:04:17 PM

Quote from: Biodom on June 05, 2015, 02:19:53 PM

Quote from: gallery2000 on June 05, 2015, 01:21:33 PM

Are you Russian? You can set up btc mining in eastern Ukraine Donetsk region for cheap.

Those are quite different. Eastern Ukraine is "almost" a war zone while Georgia (BTW, US ally) is basically a paradise: i visited it before.

If you can weaponize your S5 to kill while mining then you will make tons of money. S5, a mining and killing machine (why not? If a light bulb can mine then an S5 can mine and kill).

you lost me there , pal

Here is an illustration of the ak-s5 prototype

Biodom

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Quote from: gallery2000 on June 05, 2015, 09:04:17 PM

Quote from: Biodom on June 05, 2015, 02:19:53 PM

Quote from: gallery2000 on June 05, 2015, 01:21:33 PM

Are you Russian? You can set up btc mining in eastern Ukraine Donetsk region for cheap.

Those are quite different. Eastern Ukraine is "almost" a war zone while Georgia (BTW, US ally) is basically a paradise: i visited it before.

If you can weaponize your S5 to kill while mining then you will make tons of money. S5, a mining and killing machine (why not? If a light bulb can mine then an S5 can mine and kill).

you lost me there , pal

gallery2000

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Quote from: Biodom on June 05, 2015, 02:19:53 PM

Quote from: gallery2000 on June 05, 2015, 01:21:33 PM

Are you Russian? You can set up btc mining in eastern Ukraine Donetsk region for cheap.

Those are quite different. Eastern Ukraine is "almost" a war zone while Georgia (BTW, US ally) is basically a paradise: i visited it before.

If you can weaponize your S5 to kill while mining then you will make tons of money. S5, a mining and killing machine (why not? If a light bulb can mine then an S5 can mine and kill).

Biodom

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Quote from: gallery2000 on June 05, 2015, 01:21:33 PM

Are you Russian? You can set up btc mining in eastern Ukraine Donetsk region for cheap.

Those are quite different. Eastern Ukraine is "almost" a war zone while Georgia (BTW, US ally) is basically a paradise: i visited it before.

gallery2000

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Are you Russian? You can set up btc mining in eastern Ukraine Donetsk region for cheap.

Biodom

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Quote from: Sakarias-Corporation on June 05, 2015, 07:05:12 AM

Should i just move to china and set up a small Bitcoin farm ?

Are you ethnic chinese? If not, Georgia (a country in Europe) might be another candidate. Bitfury has a gigantic center there due to low cost of electricity.
Georgia is very interesting: it's got beaches, great food, great woods, mountains, all in a very small area. People are very friendly and passionate. You would have to haggle sometimes, but it is basically western. Religion there is mostly Georgean orthodox (a branch of christianity).

subSTRATA

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Quote from: Amph on June 05, 2015, 11:27:13 AM

Quote from: Sakarias-Corporation on June 05, 2015, 09:45:23 AM

Quote from: OgNasty on June 05, 2015, 09:41:28 AM

You could move to Washington and get $0.03/kWh. I've actually considered it but don't want to relocate. I think it would be fairly easy to set up a property to make more than it's mortgage by mining bitcoins. Especially since you could mine using mostly free equipment donated by those who are no longer profitable.

Where did you find that Shocked

?

i provided to you the link before, i think you've missed it or something, because in that link there was a guy saying that he was consuming only 0.024, even lower than 0.03...

I cant seem to find statistics for energy that cheap (http://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/)
maybe its cheap hydroelectricity or special contracts for using several megawatts?

Amph

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Quote from: Sakarias-Corporation on June 05, 2015, 09:45:23 AM

Quote from: OgNasty on June 05, 2015, 09:41:28 AM

You could move to Washington and get $0.03/kWh. I've actually considered it but don't want to relocate. I think it would be fairly easy to set up a property to make more than it's mortgage by mining bitcoins. Especially since you could mine using mostly free equipment donated by those who are no longer profitable.

Where did you find that Shocked

?

i provided to you the link before, i think you've missed it or something, because in that link there was a guy saying that he was consuming only 0.024, even lower than 0.03...

subSTRATA

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Quote from: Sakarias-Corporation on June 05, 2015, 09:45:23 AM

Quote from: OgNasty on June 05, 2015, 09:41:28 AM

You could move to Washington and get $0.03/kWh. I've actually considered it but don't want to relocate. I think it would be fairly easy to set up a property to make more than it's mortgage by mining bitcoins. Especially since you could mine using mostly free equipment donated by those who are no longer profitable.

Where did you find that Shocked

?

couldnt exactly find something that cheap, but I did find this simple list of energy costs in the US: http://www.npr.org/sections/money/2011/10/27/141766341/the-price-of-electricity-in-your-state

gallery2000

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too much risks. How do you know that the communist government will not confiscate your miners?

Sakarias-Corporation

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Quote from: OgNasty on June 05, 2015, 09:41:28 AM

You could move to Washington and get $0.03/kWh. I've actually considered it but don't want to relocate. I think it would be fairly easy to set up a property to make more than it's mortgage by mining bitcoins. Especially since you could mine using mostly free equipment donated by those who are no longer profitable.

Where did you find that Shocked

?

OgNasty

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You could move to Washington and get $0.03/kWh. I've actually considered it but don't want to relocate. I think it would be fairly easy to set up a property to make more than it's mortgage by mining bitcoins. Especially since you could mine using mostly free equipment donated by those who are no longer profitable.

Topic: Should i just move to china and farm bitcoins? - page 2. (Read 3677 times)