Bitcoin Forum

I made this post to be sure that i am not the only insane person who do mining as a fulltime job :)...am i? , anyway mining is profitable for me ..thanks to the cheap electricity i am mining for profit no holding no trading just mining.
In time i am writing this i have around 10 rigs mining diffrenet coins and i am about 6 months mining until now and away about 4 months from my roi..
My question is i am thinking in expanding more 30 or 40 more rigs and start mining for real profit do you suggest that for me i have a good electricity price (you can consider it free) ....i am only affraid from the POS mining to take over POW some day or that some day mining will just stop....could this really happen or we passed this stage.,i know that no one can predict the future ,but i am asking for your suggestions.

can you describe what type of algorithm you mining right now and which coins with 10 rig you have and how much has you have

Last month i was sometime switching and sometime running my rigs 50/50 on zcash, pascal, xmr and also sometimes renting some rigs for btc , i never hold any altcoin always exchange with btc asap. And i am happy with that profit until now it's about $50-$60 per day with 10 rigs ...i have a fixed electricity cost $20/month because i don't have a meter so electricity company pays me a fixed charge/month and thats really good :)

for xmr how much hash you send using all right you have

If i used all rigs for xmr about 32 kh/s

ook ..in solominign in how mnay day you hit block

Really i didn't try solo mining i always join large pools with good luck percentage.

Do you believe that the good electricity will always free for you near in future?
Are you willing to offering Cloud mining for us?

Here in my country it's just like that if you don't have a meter you pay a fixed charge , it will always be like that no way they will get me a new meter in near or far future.
I am really thinking of setting up a cloud mining service but it needs alot of investment , i am trying to talk to ppl to fund me but i am still stuck in this trust issue so the only way i can get fund is from local investors and this step i am going to do but it needs some time.

your electricity rate is basically free, very tempting to do hosting with you, but where do you live? and how can they just charge you only $20, they can't see how much wattage you are pulling out of the wall? seems strange to me

It's not something illegal , it's the law here if your meter is broken for any reason you get a new one ,or if it's a new building(like my situation here) until that happens you pay a fixed charge which is about $20/month with local currency , they keep telling you that you will get a new meter but that won't happen there is ppl here still waiting for many years for those new meter paying this fixed charge for years with no hope ...so you can say there is at least 20 years ahead before this new meters come..they are satsified with this fixed charge and those new meters will never come.

Indeed, I'm curious where you live and they only charge $20 with no questions asked. It must not be in the US as you would definitely have a meter..

You just pay $20, and no questions asked , there also ppl not pulling that much and still paying $20 so at the end electricity company wins :)

i think with cheap electricity or almost free electricity, you can continue mining the coins especially you are about 4 months from your roi, its still worth to waiting until you can reach your roi. and if you want to expanding, with cheap electricity, i think you can do it, but you should choose more selective for the coins and only mining coins that you already research before so after you start your new mining rigs, you can get roi not too long. by the way, you can calculate your budget first before you want to buy your hardware mining so you can calculate how long you can get roi.

I am thinking about mining as a job not as investment so when i reach my roi i will just sell the old gpus and get new and higher model and continue the cycle.

What is the total Amps of power you can receive through your electrical service?

You should not run a load including your other usage besides mining of more that 80% of the service capacity.

This will determine the amount of rigs you can run.

I have a few customers I sold mining equipment to that have flat fee power in the US (think boat slips or RV), but they could only run a few rigs besides there other power needs.

Your fixed power costs is a great benefit to you for mining. You should utilize it, but don't push the safe limits.

   

There isn't any loads , only mining rigs , also we have diffrenet flat fees than US , there is no max amps i can draw as much as my wires can carry , i am also putting in my considrations the service transformer capacity , mining is not well known here in my country and that's a good thing also :)

If I were you I wouldn't buy those 30-40 rigs.

i understood, but can you tell me where do you live, i never heard of a place with fixed electricity that is so cheap, and if you can tell me also if you accept hosting, because it's tempting for me to run my rig in your location with that electricity

Why?

Egypt :), i am hosting already a couple of rigs for local miners but they can meet me face to face so there is trust... In your case you will send the rig to someone who you don't know so you need some gaurantees for sure, many of ppl was interested here in the fourm to host thier rigs but we always stopped at this point....trust issue.

I think it's Egypt.
@Ayers What is you electricity cost per kwh ?

Even with FREE ELECTRICITY all mining will produce less and less profit as time goes on.

Right now for most around the world mining is hardly profitable, and yet the difficulty still goes on.

More and more people are learning about Bitcoin and mining and everyday there are hundreds of GPUs that are brought online.

I think this has alot to do with the 3rd world countries where making $0.10/day with a GPU is equivalent to making $100/day in the USA.

The best time to mine was when nobody else was mining.

Like with Bitcoin, then with Litecoin, then everybody gave up so Ethereum became profitable for the early adopters, etc , etc.

You are right but we can't do anything with the growing popularity of mining and cryptos itself.
For example me, I didn't had enough money for mining equipment back when even asics for bitcoin doesn't existed so I was just learning around what was going on and now I may be one out of couple people in whole country who knows what and how to do. And I don't know how you consider Georgia, but we have cheap electricity too and cheapest you can get with high usage is like 4-6 cents per kwh and it is still profitable. I'm maintaining ETH farm with 350 GPUs and BTC farm with 13xS9s and getting % for my work, so why not to put in some investment, buy a land, build a datacenter and start hosting local and global miners?