Bitcoin Forum

Hi guys,

I am from a country where the Government pays for everything. It is also possible to get free electricity (just need some electrical guy to hook you up).

I am thinking to invest some money and see if this works out.

The internet in my country is not good. The fastest plan is about 10Megas. Would this be an issue?

Also, there is a lot of information out there, however is really difficult to understand since I have never mined before nor even bought my first bitcoin.

I know there is a great opportunity considering internet is cheap (around 7$ a month for 4meg plan) and electricity (if I wanted to pay it) would be around 0.03$ Kw/h.

What do you guys recommend? Should I try to invest on the most Kw/h consumer assuming it will give me the best return?

Do I need better internet?

Please help me out conquer the world.

Regards

I dont think Internet speed have to do anything with it. Your net is more then enough.
If you can get free or extremely cheap electricity. Just try it out. Check this forum for which are bets miners and just do it. start slow. Get one and make it happen.
You will earn some cheap bitcoins and most important you will earn some nice experiences.

THIS

well the scrypt mining not perfect the sha256 mining not preect or x11 you jaust fix on a coin you see good porfit and do a mining invesment progrssivly seeing results and investing further but diff are to rise more and more and the porfit and investmn it s a bit risky but form eletrcity 0 theres a chance

Venezuela anyone?

free power is nice but how much can you get.

1 kwatt 2 kwatt 5 kwatt 10 kwatt?

My 24 by 24 by 8 foot garage was able to run 6kwatts in the winter.  The excess heat was a benefit. So how much do you have. What can you do to cool the gear down.

Now back to starting. A used antminer s-3 is cheap rugged and easy to run.
It is a good training unit to buy to start. It in not really stupid loud.


If you are able to run 5kwatt of s-3's .   It will be about 12 s-3's  about 8th

8th earns 2.537 btc a month or 583 usd.

now the s-5 is more efficient   you can run about 9 of them that is 10.4th and that earns

3.297 coins or 758 usd a month.

So do you want newer costly s-5's to earn 200 usd extra.

or cheaper s-3's to earn less.

12 s-3's cost 1200 usd's 9 s-5's cost 3000.

 it takes 9 months longer to pay for the s-5's.

so you need to call your  shots.  pay 1200 or pay 3000

Do you mean stealing power when you write you only need an electrician? You might consider this again. You running one or two miners most probably wont be a problem but im sure that, even in developed countries, the power company will investigate when a huge amount of power is vanishing.

You know there was a big asicminer farm in mexiko, the miners are claimed to be taken by the police because the owners did not pay the power costs there.

ohh really? goverment paying for electricity? or you just know somebody, who can connect you to grid and steal it? you should reconsider the risk and go away and run around the block..

AntMiner S5 is best choice for your conditions.

You can't go wrong with it.  So is worth thinking about.

And there have been some very nice mod's lately to help keep cool.  The 3D one really blows me away.

With free electricity, wouldn't buying 10 Antminer S1s at $50 each be a better choice than a single Antminer S5 at $500? Although the S1 is much more inefficient, 10 S1s would have a combined hashpower of 1,800 GH/s whereas a single S5 would only manage 1,155 GH/s.

Your question itself have the answer.

If electricity was free, then why should you bother about any machine?  ???

Have you decided to buy some machines?

If so let us know.

The perfect answer

This answer makes no sense at all.

If indeed he has free power the answer is a used S-3.

Then use the profit to buy a a used S-5.  in Sept 2015

Then use the profit to buy a used S-7.    around Jan 2016.

The only issue is how much free power he has.

Well I think if he has free power then maxing it out on a mining operation would be doomed from the start, especially if his free power provider is unknowing to him mining.  The best bet for him IMO is to just get a couple miners and see how it goes, weather it be a couple S3 or even an S4 or S5 or two.  That way he can play it by ear and slowly ramp up his gear in the future to not set off any red flags with the power company for all of a sudden seeing a huge spike in power draw at his place lol

Try to calculate yourself, if electricity is free then you should search for the best hardware that you can pay. and you think you will make roi with it.

EXACTLY!!! Folks with "free power" need to start in a small/modest way to see what else goes along with mining, as well as finding out how much of the "free" power they can actually use.

If they have access to breaker box they can tell a lot from this.  (Breaker box's are dangerous with live electricity).   

I have a feeling this is someone in their mom/dad's house.    Very few actually have "free" electricity, and even with free someone is paying for it.

Yeah and if the government is paying for it as what OP said, you dont wanna go all out right away, start slow. 

Otherwise your government will think you are doing an illegal grow operation in your basement and come raid your house :)

I am lucky that I live on a real farm.  It has people who do cattle, and crops on family land.   So using a lot of electricity is not really horribly out of ordinary.

I have received a optional like 3 page report you could fill out about what your doing with so much electricity, and they gave you a small credit for the month. I passed on doing it and nothing bad happened.