Topic: Suggestions to someone who is looking to start mining (Read 784 times)
From your research you said an S9 would earn you $6 (conservative estimate and averages), then that means you get $180/month. That gives you a picture of how much miners you need to buy. Also consider the price of electricity in your country and if you need cooling. If you live in a really cold country (like whole year winter like top parts of Canada) then you will not have to invest in cooling. I think there is quite a lot of factors to consider if you want to invest and start mining. What's good though, is that the prices of Bitcoin keeps on rising. So that good for miners.
Do more invertigation yourself, For me, I would like to target one coin and look which hardware is suitable for me to mine this coin.
My pleasure.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
oh ok, yeah i ain't going to invest a single dime unless i made my homework, it's pretty easy to jump on the hype train and then fail because of some math calculation i did wrong.
i'll for sure take in consideration your advice about ventilation and noise, eventually i'll have to find another solution.
what about the coding ? i mean, in order to connect all my hardware to a pool, what do i need ?
i know i need the miners, and psu obviously, probably a laptop to connect myself to the hardware, then seems like i need a router to connect everything to my main modem right ?
do i also need to know a scripting language ? or there are enough guides out there to help me connecting to a pool ?
The antminers doesnt need a ''lot'' of coding, it is easy to find some guide to get you started with pool mining. You may ask at that moment on the forum here how to do so.
My pleasure.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
oh ok, yeah i ain't going to invest a single dime unless i made my homework, it's pretty easy to jump on the hype train and then fail because of some math calculation i did wrong.
i'll for sure take in consideration your advice about ventilation and noise, eventually i'll have to find another solution.
what about the coding ? i mean, in order to connect all my hardware to a pool, what do i need ?
i know i need the miners, and psu obviously, probably a laptop to connect myself to the hardware, then seems like i need a router to connect everything to my main modem right ?
do i also need to know a scripting language ? or there are enough guides out there to help me connecting to a pool ?
My pleasure.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
Im french native speaker, my bad of some stuff is not clear well enough.
What i wanted to mean is, I saw some people buying S3 cause there is a lot for sales on ebay and amazon, paid high price and didnt even made some calculations before buying, just wanted to be sure you make ur homework before buying.
For ur garage, I dont know how many units you intend to buy, but if it goes above five units youll have to think for a small outside ventilation. As for neighbours, it will be ok unless you have like 20+ units.
first, thx for answering me 
yeah i know electricity is a huge parameter, i'll have to look the details for that, but i should be able to find some cheap contractor probably
as for the place, i have a garage wich can be good, since it's fresh in the summer, even tho idk if it's ok for the noise, mostly for the neighboors, i've seen (well ... i've heard) some pretty scary video on youtube with some house farms ... very loud things are these miners.
but yeah, i can manage the place and the noise.
also for the hardware, the only pieces that seems good and fast enough are S9 or eventually R4 , unless there's something faster out there.
i don't quite understand your last statement Pandora, about ppl buying S3 , you mean ppl are hunting s3 cuz s9 are over ?
cuz i don't see the reason of buying an old hardware , unless i'm very bad at math :X
in order to get the same speed of 1 s9 @ 14th , i need to buy 28 s3 @ 450gh ?
yeah i know electricity is a huge parameter, i'll have to look the details for that, but i should be able to find some cheap contractor probably
as for the place, i have a garage wich can be good, since it's fresh in the summer, even tho idk if it's ok for the noise, mostly for the neighboors, i've seen (well ... i've heard) some pretty scary video on youtube with some house farms ... very loud things are these miners.
but yeah, i can manage the place and the noise.
also for the hardware, the only pieces that seems good and fast enough are S9 or eventually R4 , unless there's something faster out there.
i don't quite understand your last statement Pandora, about ppl buying S3 , you mean ppl are hunting s3 cuz s9 are over ?
cuz i don't see the reason of buying an old hardware , unless i'm very bad at math :X
in order to get the same speed of 1 s9 @ 14th , i need to buy 28 s3 @ 450gh ?
You really have to know what is your electricity rate first.
Then you may check at https://alloscomp.com/bitcoin/calculator to see how much a day you would make.
We are not finish yet.
Where will you set up your miners ? And which miners you have in head ? A standard S7-S9 ( Avalon, Spoondoolies etc ) or a ''home'' miner like the R4 ?
If you intend to make this at home, you must be aware that miners make HELL of noises. Plus, the ambient temperature will rise drastically. Some people here in Canada switch their winter heaters for R4 since they are '' silent ''. Bitmain use the word silent comparent to the other miners, but if you have like 3 or 4 miners, prepare as well to have your wife wanting to shut if off or so.
I really suggest that you have a garage or something already to reduce the starting cost. If you arent sure about the noise, before buying, please go see someone around you that will show you how it can be very noisy when running at max capacity.
If every factors here, that you have internet as well ( no need for great bandwith ) then you could be in business.
S9 are sold out on the bitmain website, but as everything else in life, youll have to hunt the best prices around. Watch yourself, some people are buying S3 453 GH/S at around 300-400 USD because they are starting out before taking in consideration the point I've mentionned above.
Then you may check at https://alloscomp.com/bitcoin/calculator to see how much a day you would make.
We are not finish yet.
Where will you set up your miners ? And which miners you have in head ? A standard S7-S9 ( Avalon, Spoondoolies etc ) or a ''home'' miner like the R4 ?
If you intend to make this at home, you must be aware that miners make HELL of noises. Plus, the ambient temperature will rise drastically. Some people here in Canada switch their winter heaters for R4 since they are '' silent ''. Bitmain use the word silent comparent to the other miners, but if you have like 3 or 4 miners, prepare as well to have your wife wanting to shut if off or so.
I really suggest that you have a garage or something already to reduce the starting cost. If you arent sure about the noise, before buying, please go see someone around you that will show you how it can be very noisy when running at max capacity.
If every factors here, that you have internet as well ( no need for great bandwith ) then you could be in business.
S9 are sold out on the bitmain website, but as everything else in life, youll have to hunt the best prices around. Watch yourself, some people are buying S3 453 GH/S at around 300-400 USD because they are starting out before taking in consideration the point I've mentionned above.
The most important parameter you should take into account is your electricity cost.
If it's anything over 0.06$/kWh, you're going to have a hard time reaching ROI.
If it's anything over 0.06$/kWh, you're going to have a hard time reaching ROI.
Hello everyone
I'm very much new to this new thing of mining, and it's being few days i'm trying to read as much as possible about mining.
fact is, there's a lot of informations, a lot of places, and not all those places are simply legit, nor offer an impartial valuation about something.
So i'm going to explain my actual situation, and why i'm looking for mining.
First thing to say, i'm looking to make a profit, i'm italian and right now the job situation is pretty bad here, i honestly have no money, but my brother , apparently, is willing to invest on bitcoins , as long as all this thing can make a profit and help his family in case he's going to be away from home .
i suppose the amount to invest can be in a few thousands of dollars (well euros , almost the same anyway)
till now i was able to understand those things about mining
in order to mine i need specific hardware, asic hardware is best for bitcoins
that kind of hardware is pretty much expensive
the best piece of hardware is the antminer s9 with 14ths , second is the r4 with 8ths
the more th/s, the better
i need also to count for electricity, since miners consume a lot of it
mining will became lot harder by the time pass, since the requirement of hashes to mine will increase every X time
some says mining is dead, and it's better to buy bitcoins instead, and wait for bitcoins to raise in price.
if i decide to start mining, i should join a pool , wich is like a group of ppl mining together, everyday the pool is going to give me my share
with an s9, i should be able to earn (give it or take) 6-7$ per day, so in order to earn a good amount i should have at least 10 -15 s9 (ofc, the more, the better)
s9 are sold out, probably they are making a new batch
so this pretty much what i've learned till now, as i said, there's a lot of sources out there, and it's very confusing
are these informations correct ?
is it possible to earn 2-3k $ / month and how much should i invest ?
every suggestion or link to topics or articles is very well accepted ofc.
thanks a lot ^^
I'm very much new to this new thing of mining, and it's being few days i'm trying to read as much as possible about mining.
fact is, there's a lot of informations, a lot of places, and not all those places are simply legit, nor offer an impartial valuation about something.
So i'm going to explain my actual situation, and why i'm looking for mining.
First thing to say, i'm looking to make a profit, i'm italian and right now the job situation is pretty bad here, i honestly have no money, but my brother , apparently, is willing to invest on bitcoins , as long as all this thing can make a profit and help his family in case he's going to be away from home .
i suppose the amount to invest can be in a few thousands of dollars (well euros , almost the same anyway)
till now i was able to understand those things about mining
in order to mine i need specific hardware, asic hardware is best for bitcoins
that kind of hardware is pretty much expensive
the best piece of hardware is the antminer s9 with 14ths , second is the r4 with 8ths
the more th/s, the better
i need also to count for electricity, since miners consume a lot of it
mining will became lot harder by the time pass, since the requirement of hashes to mine will increase every X time
some says mining is dead, and it's better to buy bitcoins instead, and wait for bitcoins to raise in price.
if i decide to start mining, i should join a pool , wich is like a group of ppl mining together, everyday the pool is going to give me my share
with an s9, i should be able to earn (give it or take) 6-7$ per day, so in order to earn a good amount i should have at least 10 -15 s9 (ofc, the more, the better)
s9 are sold out, probably they are making a new batch
so this pretty much what i've learned till now, as i said, there's a lot of sources out there, and it's very confusing
are these informations correct ?
is it possible to earn 2-3k $ / month and how much should i invest ?
every suggestion or link to topics or articles is very well accepted ofc.
thanks a lot ^^
Jump to: