Bitcoin Forum

I just knew about bitcoins and how people can make some money from it

And i want to add that i have unlimited free electricity with 10k$ to invest in farming bitcoins and i want to know if its worth it and how much money could i make monthly with 10$k and free electricty

And if its worth it i want a partner to guid online to tell me what to buy and how to start

And who is intrested please pm me

You need a new title for your thread. Something more descriptive other than "Oh help please!!" is always appreciated. Like "$10k to farm bitcoins with free elec ideas" will get attention.

As for the move, you want the most hashes you can get for 10k. That would mean second-hand equipment and a lot of it. You could buy about 12-15 Antminer S5s and the necessary power supplies to run them. You'd need cooling too though, as they get very hot.

You should really red up on mining in the mining forums (at least the first two-three pages of posts) to familiarize yourself with the concept. That's the best thing anyone can tell you before you blow all of your money. 

Hodedow thanks

But before you say you need more hashes and s5 i need to tell you that all informations i have about bitcoins thats its a currency that u can use and farm it and a lot of people are making money from it

But for now before i get in and learn everything about i want to know is it worth it?

Btw sorry for my bad english

To find out what it's worth go to duckduckgo.com and type in "1 btc" in the search field. It'll tell you the value right now.

Again, read the first two pages of this forum and you'll know what questions to ask to make a more informed start.

https://bitcointalk.org/index.php?board=14.0

hello forget about bitcoin mining with 10k dollars but you can make some profit with that at altcoin mining.

look at these coins

Vertcoin
Quark
Maxcoin

3x GTX TITAN X would be good for vertcoin

I HIGHLY suggest doing ROI math before buying GPU's.  The day's of GPU/CPU mining really are gone.  I can remember 30 and 90 day ROI it just does not happen on those.

If you invest it will be asics.  And do ROI math.   Also I highly doubt you have the electric info-structure to power 10k worth of gear for free.  I would check into it first.

If you have "free unlimited energy" I would get a loan to start building an aluminium plant.

Bitmaintech just said the s-7 will start to sell.

Buy that it is around two thousand dollars

There is no free electricity on this planet, but I wonder why alluminium plant?

Would you tell more about this free electricity? Where are you from? What is the specs of the electricity (one or three phased, 220 volt or 110 volt)?

Is there any export/import restrictions to your country?

Because electricity costs are representing more than 1/3 of the costs in an aluminium plant.

btc_istanbul its not true that there isnt free energy because in my country citizens get free water and electricity and i own my house and never get what you call water bill or electricty bill

What country are you in?  Likely it has limits though.  I cannot imagine them giving houses a ton of extra electricity to run thousands of watts of gear.

I could be wrong but I would start with one.. then two.. etc.  I think you will find a electrical limit before money limit if in a country it's "free".

If you have still the money to invest have a look at this thread that has been posted today:
https://bitcointalk.org/index.php?topic=1167388.0;topicseen

4 mines for sale located in Poland.

I have seen a very similar thread to this.  I don't understand it either.  If a country is footing the bill it has to have a limit.  Being able to call and get a large amount of free electricity is just to good to be true.

I suspect a very few members might get lucky enough for this "free" but I think they will find a limit to how many watt's they can use.   I just don't see one using thousands of watts more then neighbors and company not saying something unless your paying for that electricity.

I know in some countries somewhere it is free of charge the electricity but remember if it is stable and without any reductions (Which happens in some countries) then you have a good opportunity to start mining(but not in the room that you are staying).
And invest in new products that are much more improved than the old miners.

How long will it take to get the ROI with the Dragon T1 miners if you run it 24/7, at actual bitcoin price?

It is not expensive almost 1btc
Let's calculate it 2 x 99$ = 189$
ROI in 99 days = 189/99 = 2$ per day is the profit after the ROI so i think it is not profitable ?

For all whos saying that there arent free electricty

I dont know if its allowed to put links here or no

But u can google about qatar citizin

Qatar is the only country on the world who is giving free electricty and water to there citiznes

While water and electricity are subsidized to residents, they aren't free. They charge 2.2 cents USD/kWh for electricity to residents and industry. And those rates are going up. Their neighbour the UAE just doubled their electricity prices to about 5 cents USD, so expect Qatar to do the same.

Also, mining in a country that hot is going to be extremely expensive. Where water is metered, and far more expensive for industry, swamp cooling would be very expensive. So AC, which means increasing your energy costs by 30%. Throw that all in, and its no more competitive than a 5 or 6 cents USD jurisdiction.

Yea i know its 2.2 for residents and free for cizines and it was free from 60 years so believe it will not change now

And its true that the weather is very hot but the room is supplied with 3 air conditions and with free energy it will not chang the cost

Btw if u want to google again u need to know that there are a big different between residents and citizins and uae is a country and qatar is another country

Because when someone tells you china hase a cheap energy you cant answer its not true because south korea has expansive energy

How big is the service to the room?  I remember some posts 3-4 years ago about houses with free electric and controlled rent with 1 to 2 year leases in Washington state IIRC.  But a house typically has 200A 240volt service and effectively its more like 120A, as you will melt the utilities incoming service wires, because they can't handle 200A or even 160A 24/7.  

It sounds like you have a room or apartment with free electric maybe 50A of 240volt?  That is enough to run 10 S5s or so and their cooling, which will likely cost you close to your 10k usd investment.  Go for it.

*grabs popcorn*

Perhaps you might consider growing pot instead?

LED's are quite efficient now a days, would be a waste, unless he has unlimited space!

OT: Used S5's? You can make them into S5+'s can't you? (Same controller?)

Most likely they will not sell you an S5+ controller for projects like this.   But if they did and you got it to work the S5+ uses 9 blades.

But they are different controller S5+ has many more ports.    So many they put a PCIe to power the thing.  The S5 is a lot littler and much less plugs.

How many kW max? I mean, I know it is free but how much power can you draw in your house before all the main breakers trip?

5 x S7's, which you can get for $10K, would need slightly over 6kW. If you can easily power 6kW worth of mining equipment you should start looking at cheaper inefficient used hardware.

Yes i had in mind that but mistyped when writing fast. I think to get quickly the ROI not so much even quickly that this.