Bitcoin Forum

I am a young man from Algeria study III collectors
I've heard of the bitcoins on 2013
And you only deal in investment in website and all of them is scammed   :( :( , But since the days a bit I realized that it is possible to produce btc by yourself , I have read several articles Each one what he says And 60 % (percent) say it is dangerous and will miss the owner and no risk .
My question???
Does anyone has experience can persuade me , I am interested in this area more than my ??
Our need to you and me your opinions ???
Thank you
 
 please   help me

 

 >:( >:( >:( >:( 23 views 
And no answer  :'( :'( :'(

So you're basically asking if you should start mining?

Short answer: no
Long answer: yes, if your electricity rate is really, really, really low AND you have some technical knowledge AND you have some cash to invest AND you like to gamble a little bit.

thank you sir
But i don't have a money to invest i will take a loan from bank i want to create a project
do you think what ?
is that I can have a stable salary without complexation ?
sorry and thank you

I think take a loan for it isn't a good idea, high risk involved. There is many dedicated mining business doing it with powerfull equipments, cheap electricity and frozen temperature to make the productivity in full swing.

Some people try mining alt-coins (it's easiest) and they hope the coins price increase in the future. But i don't know if it worth anyway. You can offer your services on forum, maybe you can find something and employers will pay you in BTC.

Don't take a loan for mining equipment. Mining bitcoin is hardly profitable for private persons. Only a professional approach with big investment is profitable.

You really are likely to do best with bitcoin by just buying some. Don't beg for loans, don't waste your time at faucets or signature campaigns. That's my opinion.

You need to read and research more on the subject before making any rash decisions.
http://bitcoinpassiveincome.com/is-bitcoin-mining-worth-it/ <- This is worth reading and will give you some idea but there are more resources online which you should read to understand every little aspect of it.

Taking a loan to invest on something you don't know much about is just plain risky, so make yourself educated before taking a plunge.

Hello Mr
I understand thanks for your back
a question?
go how much of $ to have profitable revenue?
Thank you
thank you very much

Thanks for your opinion , It m helps alot

since you don't have prior experience in this field and your english is not good either i suggest you don't start investing here because according to what you are saying it is not wise to take a loan and invest in something that you don't have enough information about.

That's difficult to say. The biggest cost of a mining rig is the electricity bill. What is the price/kWh in Algeria? If it's more than $0,10-0,12/kWh you can forget to make some profit. Then it is almost not possible. All Bitcoin mining companies are in countries with low electricity costs like China ($0,06/kWh)

thank you siir
I'll think a twice
Thankssss

It is still not clear, if you want to invest in mining equipment or in any operation that offers 60%+ profit? I would not make a loan to buy anything related to Bitcoin mining at

this stage. The Halving is coming up and most small miners will be pushed out of this scene, because the profit margins are getting thinner and will be even smaller after the

halving. Do not invest in cloud mining and stay away from Ponzi's and HYIP's. No LOANS please.... not even to buy Bitcoins ::)

 :) :)
Hello thanks, yes I know for my English I'll work it
for the btc? I read plenty of article and I still read
the problem is that want a person who tell me is what I must do
is that it is cost-effective or not
Sorry for my English and thanks

so happy  :) :) you'r  a great men
Thank you for your back
She and convincing, and I am convinced
gods keep you
Thank you Mr
 

I really can't understand if what you are trying to say.
But i can guess that you are asking for somewhere to invest maybe!?
As you are new to bitcoin i would say you should not be in hurry, as you said that you read a lot of articles, so just keep doing that until you don't get enough knowledge about it.
When you are done with that, you will be able to find the best ways for investment yourself.

electricity costs in algeria ($0,04/kWh) what do you think sir ????

Hiii mR
Thank you for your back
I want to become a miner,?
and I know not how do I read articles on the internet may y' has too much notice I'm lost I want a help thats all
Thank you

As suggested don't start mining by getting loans, it might lead to stop in a short term. Try with the minimal amount you have because if you find it profitable you can continue else can move on for the other methods of earning.

 We usually discuss only electricity cost with respect to mining.  The problem with doing so is that there are many other charges to consider on most if not all electricity bills these days.
Here is a list of variable costs on a typical electricity bill:

electricity (time of use)
distribution charge
transmission charge
loss adjustment (usually a fixed multiplier - mine is 4.8%)
regulatory charges
city, state and or federal VAT or sales tax (anywhere from 0-24%)
metering charges
advanced metering surcharges (if you're lucky enough to have one of the newer remote controlled meters)
nuclear decommissioning fund charges

 there are also fixed charges but that wouldn't affect the cost to mine.    My average cost of electricity alone was $0.108/kWh last month but once you add on all the other variable charges it works out to $0.186/kWh and the stated cost of electricity (non-peak) is $0.08/kWh
Be careful when doing your calculations.

To give you some hard figures:
You can buy an Antminer S7 for about $1200 with powersupply.
it makes 4730 Mh/s and it uses 1300 watt.
Electricity costs $0,04/kWh

With this numbers you go to the Bitcoin mining calculator (http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4730.00&p=1300.00&pc=0.04&pf=0.5&d=178678307671.68800000&r=25.00000000&er=429.29000000&hc=0.00)
I tells you you can make a revenue of $1621,00 annually.
When we stated that the depreciation of equipment is in 1 year then you can calculate that your yearly profit is $421,-

There are lot of threads with mining. However if u do the mining the Electricity is one of the major factor.

For now its very low profit but after halving you can make more profit after block halving.. honestly i am planning too to start mining with s7 because we have now a free electricity but we dont have any aircoinditionaire because here in my country right now is very hot we have a temperature of 52 degree
and i think the if you start mining business you should have aircoin so that the hardware can cool down fast.. unlike if you s7 in our temperature theres a possible that the s7 will burn or destroy fast..
We have free electricity and i think its very profitable...

Why is it after halving more profitable? Now you get 25 bitcoin /block after the halving only 12,5BTC/block. So the price of bitcoin need to double to mine even with now. I don't think that wil happen very fast. The halving will cost most of the little miner their heads.

You can start by building up your account for starters to join campaigns if there is any room left available.

Proceed from there, and eventually look into btcjam for micro loans or try to get something going with others on this forum.

I highly suggest you should get udemy education to end up providing a service someone on this forum. As for the project route, no one will fund it. Like most people are jaded on this forum at investing things.

thanks much for the time you spend
Is it Possible to calculate variable costs?
thanks Sir and sorry

Well the net income is 421$ in 1 year using one ( Antminer ) ????
and What is the life expectancy of (Antminer) ???
thanksssssssssssss :D :D

With price of 1200 it has to be more then one S7. Current price is just much less.  But make sure to include difficulty change, and having eventually, unknown price of BTC in a year.   You cannot get close to your yearly income.  It's impossible to speculate a year's of difficulty I would argue.

So do ROI in shorter terms I would avoid yearly as it just is not likely you guess right on changes for the year. 

Thank you to all for your understanding
Sorry for the inconvenience
now I have an idea about the mining
Thanks