Bitcoin Forum

Hi, as said in the title I'm looking for a legit Hardware, my budget is $100-$300( CND currency ). I'm still a beginner and trying to learn mining, I have MacBook pro 2013 (Mid 2012, 2.5 GHz Intel Core i5, Intel HD Graphics 4000 1536 MB) our electricity cost is 0.18 at highest peak and 0.087 for the lowest peak. So whats the best thing for me to do. What what can I buy from my budget? Base on what I have and my electricity cost?. Thank you

 Are your dollar figures for US currency?

Sorry, it's in CND currency.

 I knew you were Canadian!  You're so polite in your posts.

This site (https://bitcoinworldwide.com/mining/hardware/) has a list of the more recent equipment but the prices are in USD so be careful.  There is also a link there on that same site for a profitability calculator (https://bitcoinworldwide.com/mining/hardware/) which is also for USD (make sure you convert). 

 It's not a straightforward calculation since you have time-of-day pricing for power but I would suggest averaging your cost over a 24 hour period and using that number as your cost per kwh (again after converting to USD!).  If you buy a Bitcoin miner, you pretty much have to run it 24/7 because difficulty increases will make it obsolete in less than a year.

So I did a quick calculation and it appears your average price will be 0.12 per kwh (I based it on low rate weekends and 12 hours per week day at high rate).   I plugged in the numbers and right now it's just not profitable for you to mine Bitcoin.  The good news is that with the recent price drop of Bitcoin, you can always buy some and hold it!

Oh yeah, I should have warned you guys that price drop was coming. It always tanks right after I get a big invoice paid in bitcoins but before I'm able to cash out and use it. That pattern has been repeating since the big drop in early 2014 so it's a pretty good predictor.

Mining bitcoins is hard with power over six or eight cents. Over ten it's difficult even with the current best gear. It also doesn't help that the current best gear is priced so ridiculously high it'd take a most of a year to pay off even with free power.

Thank you for your help xhomerx10,I was having a hard to doing the calculation of my average of our electricity. Thank you for doing it for me :). What if mining an alt coin? would I get any profit? if so what type of alt coin should I mine?. I already thought I was already late on mining Bitcoin but is their an alternate way to get an income other than investing Bitcoin and selling it in high price?. Actually I'm doing RaiBlocks captchas right now but I don't think I can profit that much. Thanks :)

 I know exactly how you feel!  I usually tell the guys at work whenever I'm about to buy or sell anything to give then a chance to get in or out as the case may require.  The last time I ran any Bitcoin miners was when I had those 4 shipped to you by Canary.  Since then there hasn't been anything worthwhile.  I miss the good old days ;)

  It's best if we don't discuss Altcoins in the Bitcoin mining thread since it contravenes the rules of the board.  I don't have much to do with altcoins either - I did mine some Zcash but it became unprofitable very quickly.  You should open a new thread in the altcoin mining section.