Start Mining with 2500$ Budget. - page 2.

Badr

full member

Activity: 161

Merit: 100

Quote from: Xialla on May 14, 2015, 03:06:47 PM

sorry for asking this way but what actually motivates you to start mining (and invest thousands of USD to mining gear) over buying BTC directly? I'm just curious.)

I believe that investing in Mining is real gambling while i have a good chance to make such small profits from it and it might be a start point to build a the first mining farm in Egypt as well.

Now i'd like to ask you @notlist3d if there a chance to open investing in Mining by hosting and cooling miners for people and charge for a cheap electricity and small fee of cooling ??

do you think that people might be interesting in investing with me?

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Xialla on May 14, 2015, 03:06:47 PM

sorry for asking this way but what actually motivates you to start mining (and invest thousands of USD to mining gear) over buying BTC directly? I'm just curious.)

I think mining is a fun hobby. I can see why buying direct has such you mention.

But it is possible to ROI if done right. It it's no longer 90 day's and is much harder, no doubt. But part of it is that gamble that you might get even more btc. Will everyone do this... no sadly. But if done smart you can ROI.

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

sorry for asking this way but what actually motivates you to start mining (and invest thousands of USD to mining gear) over buying BTC directly? I'm just curious.)

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Badr on May 14, 2015, 02:00:43 AM

I'm thinking of 2 options,

First:
-----
Getting 2x of S4+ Miners [ 2x 2570 GH/s ] so it's 5140 GH/s
that would be able to collect 1.65141655 BTC per month.

Second:
------
Getting One of SP35 Miner [ 5.5 TH/S‏ ]
that would be able to collect 1.76707996 BTC per month.

i'm not really sure which one is the perfect start with Bitcoin Mining.

Well I can see pros and cons. S4+ you can get new which is a plus, also when selling you can sell to 2 different people at end of life. You have warranty assuming you buy from Bitmain. Biggest plus if something goes horribly wrong you have 2 unit's so could have one unit out and other still mining.

SP35 has the pro's of being one unit that could be put in a data center easy. Also has underclocking capability. You will be able to underclock much more with SP gear then the ant's.

Honestly I don't think there is a wrong choice.

Badr

full member

Activity: 161

Merit: 100

I'm thinking of 2 options,

First:
-----
Getting 2x of S4+ Miners [ 2x 2570 GH/s ] so it's 5140 GH/s
that would be able to collect 1.65141655 BTC per month.

Second:
------
Getting One of SP35 Miner [ 5.5 TH/S‏ ]
that would be able to collect 1.76707996 BTC per month.

i'm not really sure which one is the perfect start with Bitcoin Mining.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Badr on May 14, 2015, 01:31:49 AM

Actually i don't have much trust on cloud mining.
so if one day the cloud mining company decide to end them services or even had any problems i will loose my capital without being able to do anything.

I'm thinking of having the Hardware as long as i can run it myself with a good pool and have the chance to increase my earnings by adding more hardware, otherwise if i'd like to end the mining i'll have the Hardware to resell and get cash.

as far as i see most people already enthusiasm and conciser the mining is a lost game after 2105, but i see it from a different view and i hope to be right.
if i use more power i would get a power contract for 4 Cents or 4.5 cents maximum per KW, that would save more on high usage, but actually i don't know how many KW will i use for 24/7 mining using 220V line for 30 days ?
if some one can answer this, it will clear my mind about my future plan .

This anwser would vary greatly on a 220. What miners do you plan on using?

Badr

full member

Activity: 161

Merit: 100

Actually i don't have much trust on cloud mining.
so if one day the cloud mining company decide to end them services or even had any problems i will loose my capital without being able to do anything.

I'm thinking of having the Hardware as long as i can run it myself with a good pool and have the chance to increase my earnings by adding more hardware, otherwise if i'd like to end the mining i'll have the Hardware to resell and get cash.

as far as i see most people already enthusiasm and conciser the mining is a lost game after 2105, but i see it from a different view and i hope to be right.
if i use more power i would get a power contract for 4 Cents or 4.5 cents maximum per KW, that would save more on high usage, but actually i don't know how many KW will i use for 24/7 mining using 220V line for 30 days ?
if some one can answer this, it will clear my mind about my future plan .

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

I dont think home mining is the way to go anymore.

Try cloudmining, you can exit easily if something goes wrong. I would go with Hashnest or Bit-x.

Alternatively, you can try PoS coins, I like DMD Diamond, 50% annual interest.

https://bit.diamonds/

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Badr on May 13, 2015, 07:20:35 AM

Quote from: Medow on May 13, 2015, 05:52:01 AM

@notlist3d give you a good points to look after.

Also the 650 kw will finish after about 4-5 days if you have 20 S3+. So your real power price will be 9 cent not 7 cents.

Also you need to buy some server PSU with breakout boards to fire up the miners.

I suggest you to look on local market for used gears may be you will find some , I know it is hard to find any used gears on the local market on eqypt but go ahead and give it a shot.

Actually there's no Egyptian Markets for Miners as far as i know, and about the power price i can link up with people who generate electricity directly to buy in 4.5-5 cents in USD but i should buy converters and batteries in order to start using them power.

Electricity, Noise and much heat isn't a big issue where i live friends.

With no local market it might make it a little harder. It appears you will have to pay the 10 percent import tax.

In the tight margin mining game today that actually could make a difference. I would try 1 or 2 depending on model and see how you do. Electricity is ok but not "cheap" so it's going to be a little harder on ROI.

techgeek

hero member

Activity: 826

Merit: 1000

I thought mining in general is dead, so which is why most people just flip hardware these days.

And after profit, they just go buy bitcoin instead and hold.

Its what I would be doing with that $2,500.

mrhelpful

legendary

Activity: 1456

Merit: 1002

Keep the $2,500.

Go buy 1 btc when you get a chance when it falls to $180 or 2 btc if you feel generous about it.

The remaining money held to buy more, if it continues and sell off it rises and keep on doing this. After you get yourself a risk free scenario based on all these buy and hold sell point, ask yourself was it worth it to buy a hardware that will put you in the red if the value never held a constant increasing #.

I`d pay off any personal debt instead, if you dont have any then consider it to better use for personal funds.

Badr

full member

Activity: 161

Merit: 100

Quote from: Medow on May 13, 2015, 05:52:01 AM

@notlist3d give you a good points to look after.

Also the 650 kw will finish after about 4-5 days if you have 20 S3+. So your real power price will be 9 cent not 7 cents.

Also you need to buy some server PSU with breakout boards to fire up the miners.

I suggest you to look on local market for used gears may be you will find some , I know it is hard to find any used gears on the local market on eqypt but go ahead and give it a shot.

Actually there's no Egyptian Markets for Miners as far as i know, and about the power price i can link up with people who generate electricity directly to buy in 4.5-5 cents in USD but i should buy converters and batteries in order to start using them power.

Electricity, Noise and much heat isn't a big issue where i live friends.

Badr

full member

Activity: 161

Merit: 100

Quote from: notlist3d on May 13, 2015, 05:29:47 AM

First start smaller. Don't jump to 20 machines. You are dealing with a lot of heat and electricity with 20 machines.

As far as custom's i don't suggest trying to doge them, I know some will. But no honest reseller will do that. Shipping only way you can get around is if you find a local one. I don't know Egypt market, but check Craigslist and other places like that.

I would suggest you look into hosting providers. I know you won't like that anwser. But with that shipping and tax I suggest looking if it's cheaper to ship to a hosting facility.

Actually there's no one selling Miners in Egypt at all, not even a single one.
You're right to not jump into 20 miners at once maybe not because of the heat but because of the shipping fees Cry

so i'm still thinking of 2x S4+ Miners 5140 GH ±5% which around 400$ payout monthly.

so if i'm right i can collect my 2000$ back within 5 Months and when the difficulty increase it will delay me about 15 - 30 days.
i think it worth to start investing in Mining Bitcoin and be the first in Egypt who supply and host Miners as well.

Medow

sr. member

Activity: 357

Merit: 250

Quote from: Badr on May 13, 2015, 05:12:16 AM

- As i know you have to pay import fees to eqyptian custom.
YES, i pay 10% as customs fees.

-Give us the exact price you pay for power and how much power you can have
Exact power cost is 0.07$ per KW Limited to 650 KW and 0.09$ per KW for more than 650 KW usage.

i already searched S3+ Miners and found it around 100$,
so according the budget it allows me to buy 20 S3+ ( 450GH x 20 = 9000 GH ) [ that's awesome ]
but let me ask you do i need 20 PSU to run it and how much each PSU ?

S3+ Miner is 13 pounds and costs 100$ as used one.
so it costs me 10$ as customs fees and 83$ to ship it here to EGYPT.. Sad

any advices ?

@notlist3d give you a good points to look after.

Also the 650 kw will finish after about 4-5 days if you have 20 S3+. So your real power price will be 9 cent not 7 cents.

Also you need to buy some server PSU with breakout boards to fire up the miners.

I suggest you to look on local market for used gears may be you will find some , I know it is hard to find any used gears on the local market on eqypt but go ahead and give it a shot.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Badr on May 13, 2015, 05:12:16 AM

- As i know you have to pay import fees to eqyptian custom.
YES, i pay 10% as customs fees.

-Give us the exact price you pay for power and how much power you can have
Exact power cost is 0.07$ per KW Limited to 650 KW and 0.09$ per KW for more than 650 KW usage.

i already searched S3+ Miners and found it around 100$,
so according the budget it allows me to buy 20 S3+ ( 450GH x 20 = 9000 GH ) [ that's awesome ]
but let me ask you do i need 20 PSU to run it and how much each PSU ?

S3+ Miner is 13 pounds and costs 100$ as used one.
so it costs me 10$ as customs fees and 83$ to ship it here to EGYPT.. Sad

any advices ?

First start smaller. Don't jump to 20 machines. You are dealing with a lot of heat and electricity with 20 machines.

As far as custom's i don't suggest trying to doge them, I know some will. But no honest reseller will do that. Shipping only way you can get around is if you find a local one. I don't know Egypt market, but check Craigslist and other places like that.

I would suggest you look into hosting providers. I know you won't like that anwser. But with that shipping and tax I suggest looking if it's cheaper to ship to a hosting facility.

Badr

full member

Activity: 161

Merit: 100

- As i know you have to pay import fees to eqyptian custom.
YES, i pay 10% as customs fees.

-Give us the exact price you pay for power and how much power you can have
Exact power cost is 0.07$ per KW Limited to 650 KW and 0.09$ per KW for more than 650 KW usage.

i already searched S3+ Miners and found it around 100$,
so according the budget it allows me to buy 20 S3+ ( 450GH x 20 = 9000 GH ) [ that's awesome ]
but let me ask you do i need 20 PSU to run it and how much each PSU ?

S3+ Miner is 13 pounds and costs 100$ as used one.
so it costs me 10$ as customs fees and 83$ to ship it here to EGYPT.. Sad

any advices ?

Medow

sr. member

Activity: 357

Merit: 250

Quote from: Badr on May 13, 2015, 04:05:31 AM

I'm Just thinking of Getting the best Miners to get start with 2500 USD Budget,

so once it work as well and i see money coming from it as well, i can market the idea of investing money with us in Bitcoin mining.
i can tell that business people are suffering alot in Egypt since the revolution, we don't have a really stable business here away for the military or government business so the idea is just confirming the income and see how stable is't so i start marketing the idea beside i can provide a cool place to host miners in it [ below 30*] for people how'd like to send us them miners to host and manage it as well so i can provide a cool hosting place and stable internet connection with 24/7 support.

please advice which is the best Miners to start with ?
2x S4+ ( 2TH ) with cost of 2000$
or
4x Spondoolies-Tech SP10 Dawson ( 1.4 TH ) with cost of 2000$

It is all about power price and import fees.

As i know you have to pay import fees to eqyptian custom.

You can buy used S3+ which a more high power per gh more than s4+. You will find it used 80-100 USD.

Also you need PSU to run them.

Give us the exact price you pay for power and how much power you can have . You may have access to cheap power , but is this power limited to certain amount or not ?

Badr

full member

Activity: 161

Merit: 100

I'm Just thinking of Getting the best Miners to get start with 2500 USD Budget,

so once it work as well and i see money coming from it as well, i can market the idea of investing money with us in Bitcoin mining.
i can tell that business people are suffering alot in Egypt since the revolution, we don't have a really stable business here away for the military or government business so the idea is just confirming the income and see how stable is't so i start marketing the idea beside i can provide a cool place to host miners in it [ below 30*] for people how'd like to send us them miners to host and manage it as well so i can provide a cool hosting place and stable internet connection with 24/7 support.

please advice which is the best Miners to start with ?
2x S4+ ( 2TH ) with cost of 2000$
or
4x Spondoolies-Tech SP10 Dawson ( 1.4 TH ) with cost of 2000$

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Badr on May 13, 2015, 02:58:45 AM

Quote from: MRKLYE on May 13, 2015, 02:54:08 AM

Honestly as someone who has owned miners in the past I'd advise you against it.
They are loud, they produce heat which must be vented and they vibrate and flash like crazy.
Not to mention you'll have to consider cost of keeping them cool and electricity and whatnot.

What type of graphics card do you have? If you have an Nvidia based card maybe try out mining Credits.
Atleast this way you aren't wasting a bunch of money on expensive ASIC gear but still get to mine something.

Actually i'm looking forward to test it as well,
if it pays good as 400$ monthly, i'll go with it for a while then start grouping friends to build a good Mining Farm.

Personally I love mining. It's a fun hobby.

But as far as building a "mining farm" you will be far away from it unless you have a good amount set aside. Once you feel the heat, noise, etc. And most of all massive amount of electricity. You can sure build a mini farm, but you will never reach it like big corporations unless you just had a fortune to spend.

Badr

full member

Activity: 161

Merit: 100

Quote from: MRKLYE on May 13, 2015, 02:54:08 AM

Honestly as someone who has owned miners in the past I'd advise you against it.
They are loud, they produce heat which must be vented and they vibrate and flash like crazy.
Not to mention you'll have to consider cost of keeping them cool and electricity and whatnot.

What type of graphics card do you have? If you have an Nvidia based card maybe try out mining Credits.
Atleast this way you aren't wasting a bunch of money on expensive ASIC gear but still get to mine something.

Actually i'm looking forward to test it as well,
if it pays good as 400$ monthly, i'll go with it for a while then start grouping friends to build a good Mining Farm.

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