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Title: Location any influence in mining? Post by: caido on October 13, 2012, 07:08:15 PM Hello, I want to ask is the mining physical location has any influence in the mining. I'm located in South America Chile, I believe there are very few miners up and running here compared to other more developed countrys. Also even buying bitcoins is kinda hard here and they are not market value, they are very overpriced, something like 25 to 40 %, so yeah mining is looking very attractive to me right now.
So, does it have some negative or positive impact me minig here? or nothing happens? Thanks a lot for response in advance Kind Regards Title: Re: Location any influence in mining? Post by: greyhawk on October 13, 2012, 07:12:18 PM Location has an influence on profitability. If electricity prices in your location eat up any revenue, you're going to not want to mine.
Title: Re: Location any influence in mining? Post by: caido on October 16, 2012, 10:45:17 PM I was thinking in something like, if there are few machines mining in your country, most likely all transactions will pass trough you and youll recieve more. Is that wrong way of thinking how it works?
Title: Re: Location any influence in mining? Post by: jimbobway on October 16, 2012, 10:49:43 PM If it's hot where u live it will cost you to cool the mining rig.
Title: Re: Location any influence in mining? Post by: Graet on October 16, 2012, 10:52:10 PM I was thinking in something like, if there are few machines mining in your country, most likely all transactions will pass trough you and youll recieve more. Is that wrong way of thinking how it works? you don't get paid for "transactions will pass trough you" you get paid for including transactions into a block - either as a solo miner or part of a pool.Bitcoin has no knowledge of countries or other artificial borders, transactions are put into a memory pool being worked on by all miners all over the world, whoever "solves" the block gets the rewards. Title: Re: Location any influence in mining? Post by: legolouman on October 16, 2012, 10:54:49 PM Yes, mining is influenced by the location of the miner, for a few reasons.
Electricity - Obviously, a Miner wants cheap electricity for both powering rigs and cooling the Operation rooms Heating/Cooling (Mainly cooling) - A miner has to be able to cheaply cool his rigs. Shipping costs - Miners have to be able to expand and possibly even sell their hardware without paying a fortune for shipping. Remote locations will cost more to ship to and from. Title: Re: Location any influence in mining? Post by: twoglovedanny on October 16, 2012, 11:32:42 PM Location has an influence on profitability. If electricity prices in your location eat up any revenue, you're going to not want to mine. +1 Title: Re: Location any influence in mining? Post by: caido on October 16, 2012, 11:46:29 PM I see. Thanks for the answers.
Title: Re: Location any influence in mining? Post by: kwoody on October 17, 2012, 02:26:48 PM Yes, mining is influenced by the location of the miner, for a few reasons. Basically this, with the addition of 1 more reason. The number of stale shares you receive when mining for a pool is typically determined by geographic location compared to the servers where your pool is. Being in the USA, mining for a poolserver that's in the USA will give me the fewest stale shares. There are a few exceptions to this, but not many. In short, geographic location should affect which pool you ultimately throw your hashing power at.Electricity - Obviously, a Miner wants cheap electricity for both powering rigs and cooling the Operation rooms Heating/Cooling (Mainly cooling) - A miner has to be able to cheaply cool his rigs. Shipping costs - Miners have to be able to expand and possibly even sell their hardware without paying a fortune for shipping. Remote locations will cost more to ship to and from. Title: Re: Location any influence in mining? Post by: allthingsluxury on October 17, 2012, 07:17:40 PM Yes, mining is influenced by the location of the miner, for a few reasons. Basically this, with the addition of 1 more reason. The number of stale shares you receive when mining for a pool is typically determined by geographic location compared to the servers where your pool is. Being in the USA, mining for a poolserver that's in the USA will give me the fewest stale shares. There are a few exceptions to this, but not many. In short, geographic location should affect which pool you ultimately throw your hashing power at.Electricity - Obviously, a Miner wants cheap electricity for both powering rigs and cooling the Operation rooms Heating/Cooling (Mainly cooling) - A miner has to be able to cheaply cool his rigs. Shipping costs - Miners have to be able to expand and possibly even sell their hardware without paying a fortune for shipping. Remote locations will cost more to ship to and from. Good answers. Title: Re: Location any influence in mining? Post by: HolyScott on October 17, 2012, 09:01:16 PM Sounds good.
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