Bitcoin Forum

I live in middle of no where but there are farms and ranches near by so cause of this they offer FREE!!! 100% FREE FROM 9 PM TO 6 AM electricity!!!

I want to take advantage of this and kinda at crossroads.

My set up for where units would go is on a 6 shelf wire cabinet,4 separate 8 port switches, 2 power outlets but are on the same power line, and a voltage regulator.

Should i buy lets say 1 antminer s7 or like a ton of some other small one?
or should i even still bother?

I think mining is not profitable now a day but if you have free electricity you gain huge profit with s7 miner before halving ends...

I doubt you can even ROI before the halving with any type of miner.

@OP use https://bitcoinwisdom.com/bitcoin/calculator change the increment at 15% and try to estimate how much an s7 would cost in total (hardware+shipping+taxes+other fees) and see if you can ROI yourself.

what about mining some valuable altcoins ? It may be better than bitcoin as the difficult is so high nowadays

There's few problems with that.
Most of them require different hardware, it's more speculative because altcoins are even more volatile than Bitcoin, the vast majority of altcoins are scams and many other reasons.

Before the halving it is really hard to make any ROI because it is less than 6-7 months left.
But you will still be able to make the roi through this year probably even when the block reward is 50% less.

he wont make it , the halving is near, the difficulty goes up = your profit goes down... even with cheap electricity, its not going to be easy

It also depends on what your electric costs the rest of the day. If you only mine for those 9 free hours it'll take a lot of your time (having to start/stop the miner each day, unless you script it) plus youre only mining 38% of a day. You should figure out what it would cost to run a miner 24 hours, including the 9 free hours. It might still be profitable. Or look at buying older hardware for cheap/free and run that only during the free hours.

The problem might become that if you start a big farm of old (free) hardware the power company will realize it and start charging you for the "excessive" use.

I have to agree that mining today is not profitable for the small guy.  If you are happy paying out $1,000 and seeing a return of $50 a month, is it worth the $1,000 you spent?  It could be profitable, but you first have to recoup your money from purchasing your miners. 

the next step would be to see how many wattage this place can deliver, and how much is your investment

then you can go ahead and buy a s7, don't bother with other asic, as they require more wattage, which mean more psu

america, texas, on the border...i shall say no more


the cost during the day is $0.13 a kilowatt.
i ran a script of my dear old S1 way back to shutdown
as for the power issue i kinda already run about 4 compters at about 650watts each at night and only night  for "projects" and they haven't said anything yet


 breakers in this room would be a 15 amp
price investment is maybe 1k to 2k but 2k is most thats why im kinda at a crossroads.

So your average price throughout the day should be $0.08 a kilowatt which (if my math is correct) is pretty decent. In my opinion you still have two real options. 1) buy new ASICs which are very efficient and mine 24/7 or 2) buy cheap older gen ASICs and only mine at night. Maybe a third option would be to get both new and old ASICs - mine with newer ones 24/7 and only power the rest up at night. All this mostly depends on the price you can get ASICs for.

Its too expensive for S7's. Better he buy a ton of cheap S1/S2/S3 and only run them during the free period. The S7 is too expensive per GH to run only some of the time. 0.08$ per kWh is not that good.

What are you doing with those 4 computers that you run 650 watts each?  Playing videogames on max with dual video cards??

Avalon 6 has a group buy it looks like currently that might be worth looking at if stuck on 110/120.   But your right if they are able to power the S7 it is cheaper as far as hash currently.

I think he needs to figure out the wattage like you said though. Unless his line is 220/240 I think one modern miner will use most of his "2 power outlets but are on the same power line"

i believe he has at disposal the standard 3kw-3.8kw like i have here, but with cheaper electricity

anyway at this point no matter if you have free or not electricity i would only go with the s7, which is cheap enough nowadays

the simple reason for this is because you cna fill more hashrate with lower wattage limit, if you use the s7, efficiency is not about earning only, but about density also

private servers made of not the best parts, 1 is for 3d rendering projects (easy side money...classmates send me the 3d file and then i render it out ), 2 are game servers running, and last 1 is just clone of the game servers
like i said not the best parts like 7-10 years old and pawn store quality

sry about that

i have standard 110/120 with rare power spikes

If you have 110/120 and only 2 power outlets that lead to same power line one new miner ill most likely max out your outlet pretty  well.  Say you go with S6 and 1600 watt evga, then you have used up pretty much all of that outlet.

You will need more electricity and more power lines if you want to have multiple and 220/240 is best anymore.

i can get free power , if i shut down 4 hours per day mon-friday, and shut down completly  on weekends.
i make more just paying the power bill and running 24/7.

depnding on power cost sometimes it doesnt make sense to only run a few hours a day and get free power

You should definitely take advantage of that, just get an old miner and you are all set, you won't be making much of course but it would be free and if you have faith in Bitcoin it could be much more valuable in a couple of years, twice or more.

You can also try mining another coin that gives you more bang for your buck: https://www.whattomine.com

If you are concerned about profits, then you should definitely go for Antminer S7 as it will help you get good profit and I guess you will get your ROI done in less months if you are to get free electricity... :)

A lot of these are altcoins, and scrypt or other algos.  So they cannot be mined with standard bitcoin miner.   

A better one for bitcoin is: https://bitcoinwisdom.com/bitcoin/calculator It will allow you look at ROI math with difficulty changes.  And these difficulty changes are a big thing over time.

I don't think the S7 will get you a decent profit within a decent timeframe.
Just the Antminer S7 will take you 130+ days to get profit:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4700&p=1180.00&pc=0.10&pf=0.00&d=103880340815.45600000&r=25.00000000&er=449.94760000&hc=0.00

This is without difficulty increase and the PSU.

Coinwar is not great.  I highly suggest using https://bitcoinwisdom.com/bitcoin/calculator .  So much better with difficulty option.  Coinwarz is good for this period only.

As far as PSU i'm not sure on including it.  A lot of people have PSU's that last multiple miners.  And some like me have some that have already ROI'ed on.  And when I buy new I plan on more then one miner using a PSU over it's lifetime.  And I can also sell it one day if I want.

Both calculators do what they were invented for... calculating the profitable. Sure 1 tool having more features is good, but it doesn't mean it's better.

The outcome for OP is the same. Buying a S7 is not' profitable..

Having difficulty changes is better when calculating ROI.  It is a big thing overtime.  It is not just some fancy feature, it is a real variable you deal with when mining.

Coinwarz without having difficulty will never be good for more then current period.  Bitwisdom you get much better longterm which mining is a longterm investment at this point.

Yes the ROI is pushing me more to multiple cheap to make a sum of 2T/H or 3T/H

That is the great thing with not having high electricity.   You can buy used gear at a considerable discount and look at best bang for the amount of hashing.  Not the most efficient.

For me efficiency is importing as I have what I would call normal electricity.   So I really have to keep decently new gear.     I plan to see what is profitable and what I sell after winter is over.

with free electricity is only a matter of time until you roi, you don't even need to sell the equipment unless you see that the diff will kille the profit completely and you're earning few satoshi each day

not somethign that will happen overnight for sure