Bitcoin Forum

Hello everybody!

I am new in the forum (This is my first topic) and my english is basic...

But I'm here to ask how they see mining in their respective countries (without saying location). I'm from a country with the cheapest electricity in the world. The price is 0.0001$ per kw/h. Although blackouts happen every month.

The minery here is very profitable. But how is the situation in China, Russia, the United States, Europe?

The price of cryptocurrencies has affected them a lot?

Excuse me for my English as an automatic translator.  ;)

What!? $0.0001 KW/h
 :o
unbelievable

It's not an exaggeration, electric costs do not affect us ...
Search for mining in Venezuela
Would it be profitable to mine any currency? My biggest concern is if I can recover the investment in 6 months

Well, this is certainly a good rate as electricity does cut into ROI, but the other big issues are getting cards at a decent price and where the market is going. New cards are coming down though may never go down to where they were, but the second hand market is dropping fast, especially for 1070s.

As for the crypto ecosystem, we are in a crypto-winter, meaning a price depression. The G20 will settle on regulations in their next meeting in June, people will start getting used to crypto as it will have seen 1+ year coverage in the mainstream media, and with reasonable regulations institutions will start getting in. The price will rise again. Just my two cents.

Well, as you say a problem is partially resolved with the Ebay rebates, but you are right with the market. I do not know if mining some altcoin a little more secondary like those that are inside the top 20

0.0001$ per kw/h is really cheap. with this cheap electricity price i would buy me some second hand hardware (asics and gpus) and start to mine.

my land has one of the highest electricity price world wide. where i live, it make no sense to start mining.

Im at .048 per Kw\h here in west central Indiana and im still making money.  Waiting out the newbs to sell off all their cards during the great spring/summer 2018 panic.

Bitmain antiminer G2 is back in stock on their chineese website for 16,700 Chinese Yuan which equals to 2,648.79 US Dollar. OP keep your eye on Bitmain English site in case it becomes available. G2 specs are incredible for the price (assuming no new devices are coming out soon).

https://i.imgur.com/I0YHGCj.jpg

Thats not an ASIC thats just a GPU rig hidden inside a simple server case. If bitmain has actually built an ASIC for Ethereum it will be way more expensive and it will be much more power efficient what you just showed us. I doubt that is even legit in the first place.

This is good news!
Very cheap.

If you are just interested i your ROI it will depend in your investment with the mining rig specially with the prices of some hardware right now like the GPU, which has gone down but not so mich as it used to be. With your electricity cost like that I think that you will get your ROI depending on your mining rig cost will be within a year or so.

At the current value of Altcoins, mining is not profitable anymore considering the cost of almost $0.2/kwh here in my country. I'm about to sell my rig soon..sad.

They are killing miners in Venezuela.

Do you have sources?.. I'd like to read that article. I know that Miners have to register with the government. I don't know what the penalty is but that sounds a bit over exaggerated.

Check this video and about the source, I'm the source.

https://www.youtube.com/watch?v=m4o0zz49IOY

If you ask such questions then most likely you wont be able to get your money back neither in 6, nor in 12 months.

he heard it from the world's most truthful media like CNBC, CNN, Fox and other bs.
Victim of western  media propaganda.

In my country miners are shutting down their machines one by one and some of them are selling all their equipment
The cost of the power is "destroying" the profit, which is very low at the last weeks

If you have such low cost on power I would suggest on beginning mining because a great percent of miners is quitting the job

With that electricity cost, you can mine anything you want. But with this bearish trend, you can get your money back in about 500 days

What's electricity cost?

Haha, I know that Country!! Venezuela!!

What a bunch of hyperbole

But it's very big amount of days. If of course, you can collect a mini-mining room with a lot of mining-equipment, then this cost can be repelled in 2 months

In my country the electricity cost is about 3.1 cents per kw.
So right now mining is still profitable, but at least 5 times less profitable then January, which makes me very sad

In my country, the cost of 1 kW/h is 0.1$ so mine is profitable for me. Though I don't have too many farms and not large power, so I produce young of the coin, where no great complexity of the network.

My country about $0.17 and still profitable  :)

Why? What is the problem of asking for more information to do business?

Its $.09, where I mine. I am able to pay the power bills and also some profits which decreased dramatically in the past month.

Well, frankly, because keeping mining profitable even at times like this requires knowledge which you obviously don't have yet. It's not that I'm saying don't do it, it's just that you have to realize that learning stuff will take time (and 75% of folks even here don't have it mining ETH or ZEC or, god forbid, Nicehash for years.) and therefor you won't make your money back quick.  These are very people that you hear moaning about profitability, difficulty and whatever else issues. Others spend hours daily to dig and compare information on new coins, setting up masternodes instead of selling mined coins etc. They don't have much time to moan in the forums :)

in Russia, in the Irkutsk region is very low price for electricity, about 0.02$ kw/h, but this price is incomparable with Venezuela.

I doubt it could be true. May be you 'd better  to  change a calculator.

Same story. I trying to hold as long as i can, but need to pay, so i exchange small portions btc to fiat. Hope one day price will return to 15-17k.