Should i just move to china and farm bitcoins? - page 3.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: alani123 on June 05, 2015, 09:27:22 AM

Sweden eh? Didn't notice the last post. Actually, I looked at some stats from eurostat and industrial electricity cost in Sweden is one of the lowest in Europe even after taxing. What figures do you have on electricity costs in China? Maybe moving to China wouldn't really help you profit more that you would in Sweden, moving so far also has its cost, living there too. Cooling would also be an issue since your plan is to mine. Sweden is pretty cool in terms of temperatures right?

according to my calculations i would save 50-60% on Electricity in China.
yes, moving there and so forth would cost a bit, but it should be compensated by the Electricity Difference

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Sweden eh? Didn't notice the last post. Actually, I looked at some stats from eurostat and industrial electricity cost in Sweden is one of the lowest in Europe even after taxing. What figures do you have on electricity costs in China? Maybe moving to China wouldn't really help you profit more that you would in Sweden, moving so far also has its cost, living there too. Cooling would also be an issue since your plan is to mine. Sweden is pretty cool in terms of temperatures right?

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: el kaka22 on June 05, 2015, 09:10:47 AM

Quote from: Sakarias-Corporation on June 05, 2015, 07:52:51 AM

Quote from: el kaka22 on June 05, 2015, 07:49:45 AM

Where do you live now? How is your electricity cost now? And how much do you want to spend on buying/rent a house in China? The electricity cost there are about 0.5 CNY per kWh according to a Chinese mining site. Is it worth it for moving to China for just the electricity cost?

i pay around 0,12 USD now per kWh.

well i'm willing to to spend as much as i can, now i couldn't move anywhere within 9 months tho. (going to London to work 6 months in September)

If your electricity cost is 12¢ (USD), then moving to China only saves about 4¢ per kWh, or 1/3 of the electricity costs. Also the salary and the quality of life in China is very low, look at the GDP per capita figures between China and the EU. So I only recommend to find some trusted host to host your mining equipments in China, and you may travel there sometimes to see how your mining goes.

Quote from: Sakarias-Corporation on June 05, 2015, 09:06:22 AM

Actually, we would be 5 guys going.

If you are 5 guys going, and assume an average house there cost 500000 CNY (but this price maybe outdated), then one should pay 100000 CNY, or 14500 euros to buy the house.

Actually, you could start with renting a house until everything goes around.

also the 12 Cent varies. 12 would be the lowest, sometimes we have to pay 15...

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Quote from: Sakarias-Corporation on June 05, 2015, 07:52:51 AM

Quote from: el kaka22 on June 05, 2015, 07:49:45 AM

Where do you live now? How is your electricity cost now? And how much do you want to spend on buying/rent a house in China? The electricity cost there are about 0.5 CNY per kWh according to a Chinese mining site. Is it worth it for moving to China for just the electricity cost?

i pay around 0,12 USD now per kWh.

well i'm willing to to spend as much as i can, now i couldn't move anywhere within 9 months tho. (going to London to work 6 months in September)

If your electricity cost is 12¢ (USD), then moving to China only saves about 4¢ per kWh, or 1/3 of the electricity costs. Also the salary and the quality of life in China is very low, look at the GDP per capita figures between China and the EU. So I only recommend to find some trusted host to host your mining equipments in China, and you may travel there sometimes to see how your mining goes.

Quote from: Sakarias-Corporation on June 05, 2015, 09:06:22 AM

Actually, we would be 5 guys going.

If you are 5 guys going, and assume an average house there cost 500000 CNY (but this price maybe outdated), then one should pay 100000 CNY, or 14500 euros to buy the house.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Actually, we would be 5 guys going.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: alani123 on June 05, 2015, 08:55:32 AM

Where are you located? You could get cheap electricity within the states as well. Getting your business licenced as industrial is something I can't be sure about though. You should probably look into it.

i live in sweden

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Where are you located? You could get cheap electricity within the states as well. Getting your business licenced as industrial is something I can't be sure about though. You should probably look into it.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Sakarias-Corporation on June 05, 2015, 08:42:19 AM

Quote from: Amph on June 05, 2015, 08:41:20 AM

if you live in usa there is no need to go there, there are soem place where you can get even cheap electricity, lower than 0.05

some example(this is still above china, but pretty good) https://bitcointalksearch.org/topic/cheap-electricity-for-mining-bitcoin-487091

this is the best price that you can get i think, after that probably there is free electricity(someone else pay the bills...) https://bitcointalksearch.org/topic/m.10995741

Sweden here :/ 33% tax on Everything here.

yeah i know your feel, i'm from euro too, euro is probably the worst place to mine, if you can't go abroad, the only thing is investing in legit cloud site

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: Amph on June 05, 2015, 08:41:20 AM

if you live in usa there is no need to go there, there are soem place where you can get even cheap electricity, lower than 0.05

some example(this is still above china, but pretty good) https://bitcointalksearch.org/topic/cheap-electricity-for-mining-bitcoin-487091

this is the best price that you can get i think, after that probably there is free electricity(someone else pay the bills...) https://bitcointalksearch.org/topic/m.10995741

Sweden here :/ 33% tax on Everything here.

Amph

legendary

Activity: 3248

Merit: 1070

if you live in usa there is no need to go there, there are some place where you can get even cheap electricity, lower than 0.05

some example(this is still above china, but pretty good) https://bitcointalksearch.org/topic/cheap-electricity-for-mining-bitcoin-487091

this is the best price that you can get i think, after that probably there is free electricity(someone else pay the bills...) https://bitcointalksearch.org/topic/m.10995741

check that thread there are better place, with better electricity than chna

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Do anyone know a good website to check on locations / properties which you could rent ? i only find some high-en apartments lol

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: el kaka22 on June 05, 2015, 07:49:45 AM

Where do you live now? How is your electricity cost now? And how much do you want to spend on buying/rent a house in China? The electricity cost there are about 0.5 CNY per kWh according to a Chinese mining site. Is it worth it for moving to China for just the electricity cost?

i pay around 0,12 USD now per kWh.

well i'm willing to to spend as much as i can, now i couldn't move anywhere within 9 months tho. (going to London to work 6 months in September)

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Where do you live now? How is your electricity cost now? And how much do you want to spend on buying/rent a house in China? The electricity cost there are about 0.5 CNY per kWh according to a Chinese mining site. Is it worth it for moving to China for just the electricity cost?

subSTRATA

legendary

Activity: 1288

Merit: 1043

:^)

if all three of you are already seriously considering this, id say start looking into places for housing and hosting your mining farm; if you can get clean electricity thats even better and cheaper (just a passing thought)

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: subSTRATA on June 05, 2015, 07:45:25 AM

depends on a few things, do you have enough capital to invest in and maintain a mining farm that would generate an income enough you could live off of? if so i'd give it serious consideration.

if i would go to chino, then we would be around 3 guys, so i'd say we'd have the money to start with

subSTRATA

legendary

Activity: 1288

Merit: 1043

:^)

depends on a few things, do you have enough capital to invest in and maintain a mining farm that would generate an income enough you could live off of? if so i'd give it serious consideration.

it also helps if you speak chinese.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

Quote from: BitcoinAddicts on June 05, 2015, 07:37:23 AM

why you want to setup mining farm in china but not in your country
tell us the reason, why you think china is better then your own country.

due to Electricity costs

BitcoinAddicts

hero member

Activity: 502

Merit: 500

why you want to setup mining farm in china but not in your country
tell us the reason, why you think china is better then your own country.

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

i'm actually serious. would it be worth it to save up some money and try to farm in china ?

Sakarias-Corporation

hero member

Activity: 574

Merit: 500

Call me Alice. just Alice.

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

Topic: Should i just move to china and farm bitcoins? - page 3. (Read 3680 times)