Bitcoin Forum

hi guys, I have electricity with zero cost and building where we can make a farm (building needs to be reorganized).  I'm new around this topic but researched a lot past 2 days and finally got conclusion that's mining is only profitable with very low or 0 cost electricity so it's nice opportunity  ;D ;D. If someone is interested please let me know. I'm thinking about investment under 50k from the beginning and if everything goes well then we go big  8) 8)

I'll appreciate if you tell me any other useful places to post all about this

P.S Country : Georgia.  (bitfury invested 100 mln here for building megafarm  :o :o :o)

Unless you can provide some form of investment guarantees, it s going to be extremely hard for you to make this happen. Would you invest money across half of the globe and let someone you ve never met manage it? Still, good luck.

Thank you for your reply,  I just have this idea and if someone wants to invest the funds of course we will find and sign all the necessary documents, everything to be guaranteed and for sure face to face meeting will happen 100 %. 

if you can suggest me smth more to find investor easier will be super good  8) 8) 8) 8)

As being said above it would really be hard for you to find an investor here on this forum.Why wont seek investors near in your place? People wont really decide to meet you up in your place unless if it resides nearly and I would like to ask where you do get that 0 electricity cost? Nothing in this world do have free electricity and everything has its own price.If that energy came on other people then its not totally free.

You should try approaching some of the big miners... I know they consider external projects. Why is the electricity zero cost??

Who is going to pay the electricity bill? There isn't zero cost, someone is going to pay this and if you are cheating someone to start your mining farm there aren't any guarantees for investors...

The energy is not stolen and nobody is paying that, I'm not talking about capital city. It's a region near the main dam of my country , that's why it's zero cost for years

As I know, the countryside electricity is cheaper or free because people there don't use it very much, the demand is too low, so they use it for "free". But when you start a mining farm the demand will increase a lot and the authorities will find it and they will want to know what you are doing to use so much energy. If it was here, I would need to start paying the electricity like on capital cities and it would make the business worthless...

Anyway, I don't know if the same happens in Georgia. In another country, Venezuela, the ASICs were taken and the owners arrested. Probably there in Georgia it's different, but the electricity won't stay free, check about it.

Things aren't like that my dear man. I and mettalmag (one user here) are from georgia, mettalmag is seriously in mining and believe me with relationships it would be easily done and there wouldn't be need of paying electricity fees.
I think I know where you live and don't try that because it's not legal. Imagine then Bitfury would buy a place in where you live and mine for free, maybe you can buy 1 antminer and mine but DON'T DO THIS FOR YOUR SAFETY.
On another hand you know what to do..

Electricity if free in most places. Just because you can't get it free don't say it doesn't exist as if you know everything.

It's very unlikely anyone would invest in a scheme like this as the risks are far too high. If you really have access to free electricity and a suitable building then the only way I can see to make this happen is to buy miners yourself. If you have any collateral to put then borrow the money to get started.

If he greased the right hands this could be going on for a long time. I don't think you could pull this off on a larger scale. The only issue is finding someone to invest in a plan that can be ruined in 6 months.

Could you provide more details? What do you plan on mining? What kind of equipment do you want to use etc..

I wish you a good like. Firstly how is your electricity is free? Secondly how should I trust you?

Governments eyes would really stick into those things which they can see that it can be taxed and being said here if they saw that the demand rises for sure you would really be charged on the electricity that you do consumed unless if they would not put interest on what you are doing here but its somehow impossible that they wouldn't care at all specially on making a mining farm.Curiosity and possible taxation would really happen if they saw you are earning decent on mining.

You might want to be a little bit more specific here, in case people want to fact-check what you're saying here.
I mean, it does sound plausible that you could get electricity at a low cost next to a hydroelectric power source, but completely free? I don't know...

Also what would you be providing to the operation? I assume you need someone to cover the cost of the equipment, but what would you be doing?

Could you share a broader plan about your idea and things you need to implement it. As you said the electricity is free, which place do you live in and is the government providing free or you getting through some other sources? Also how many investor do you already have it and what is the total cost that will come upto for setting up the mining farm?

Documents, whatever those are, are not a valid form of collateral or surety. In the event of a default or scam, those documents are worthless and will not help the lender or investor recover the invested funds.

I suggest you approach banks in Georgia and discuss borrowing the money you need. They are local banks and I can assure you that they will want to see a solid form of collateral, even if you give them all your documents. How much more if you want to loan from someone located outside Georgia? That investor or lender will want to see the loan secured by or with something which can be resold or liquidated if you simply take the money and disappear. Or if your business model fails (for example, if the Georgian government decides to crack down on utility fraudsters a few days after you obtain the loan.

Finding someone here willing to give you USD 50,000 on the strength of an unsecured promise to repay it "whenever" will be harder than attempting to summit Mt Everest in a winter storm.

 

What's the nature of the zero cost electricity and how do you obtain it? Is it legal? Do you have some kind of contract or any proof that you can use the zero cost electricity regardless of the amount?
This are just a few aspects that must be all in order if you are thinking of starting a business.

From what I can tell, there is no business oportunity here, because even if you are all legal (eg: you have a contract that specify you can use unlimited free energy, but I highly doubt this), there is the trust issue (and around here this is a BIG issue).

Your best bet is to talk with friends and people that knows and trust you personaly.

Sorry my man. But there is nothing such as ''free'' electricity.

this is either a scam or a very misinformed campaign...
You have to make a real serious project and not just throw this frisbee at the people in the forum to see who would want to invest!
My recommendation is to make a website with your proposal and some FACT about what you say.
Investor should want warranties and also some SLA and legal documentation , you have to go the serious way my friend.

I know better ways to make income, mining is overrate, all you have to do is make a new business and covert fait to an alt coin, it will be beat mining anyday if you invest ur fiat into crypto

I do not think there is a place with 0 cost of electricity, but if OP saying that in their place are free elwctricity i think that is the best place to build a mining site which all your mine coin is treat as income.

Now since OP is newbie its hard to give trust and make huge investment in his offer, OP need to start even small mining rigs at his own capital or what mining rigs he can afford since 0 electricity the roi will be more faster than usual mining sites which paying their consumed electricity.

I'm always wondering anytime I do read up these kind of post on where those people do get 0 cost electricity which is really awesome knowing that all necessities on life do really always have a cost. If your government do pay up on those electricity expenses then it isn't still free at all and yet they would still need to pay up on the consumed energy and once you do make use of it there would really be a sudden bump on consumption which would really lead up for more questions regarding on your activity and regarding on the proposal I can say that no one would able to entrust for this kind of project specially theres no guaranteed being stated on its possible investor.

In this case it's good for you run a project for your local crypto miner in your city not on the net. How we can trust and verify everything from you.
As this potential market, a lot people looking a farm like this. They should share you profits and come to check face 2 face too

if we are in the same city then maybe i will considering to invest for building mining farm but unfortunately we are in different city and country and we are is a long distance so i can not check directly the conditions. i think you can get a loan from the bank near you so you can start to build your mining farm but if you go with this way, then you need to pay back the loans. if you have electricity with zero cost, i think you can make big profitable but don't mining bitcoin because today the difficulty is increase and in future, the difficulty will also more higher so its better if you can mining altcoin.

remember not everything is about electricity quality and availability.

You have to take into account a good and stable internet connection and also the weather conditions. I mean if the place is cool and dry, that would be the best for your mine project.

Name:   ucha95
Posts:   4
Activity:   4
Position:   Newbie
Date Registered:   September 04, 2017, 03:55:34 PM
Last Active:   October 12, 2017, 02:37:03 PM


see his post history

https://bitcointalk.org/index.php?action=profile;u=1138656;sa=showPosts





he just wants money and he would run away with that money.

No one will invest to you since you are not trusted and you are just newbie even its a free electricity that honestly here in my area also free electricity im just renting my apartment and our electricity was fraud that i think good idea to mine cryptocurrency but if you build a mining farm its obvious that this is scam attempt because its illegal if they caught that you jumper the electricity and detects by electricity company you will be arrested.
And its impossible they will not detect if there is a big power consumption in your place.. 
Here also 0 electricity cost because our electricity was jumper they connect the line directly behind electric meter so the meter will not running.. mostly doing this is illegal here in my country but i just living and found apartment with free electricity.. already running with gpu mining but i can't increase more due to the noise..

If you have access to such lucrative electricity costs(in fact 0, wow), then why don't you just do this yourself? Get a personal loan from a bank or friends/family, they'll charge you much less interest than you'd get on this forum.

This is most likely a scam, even if it is not, it is illegal.

Also OP is a newbie with absolutely 0 history.

Haha only Americans are bold enough to refer to states as countries  :D


Don't know if there are or aren't, but there used to be. For instance in Iraq before the US invasion people had free electricity. After the "liberation" it became something that you have to pay for, Western style ;)


This is easy to do, I could even do it in my house, but it's also easy to find as there are main meters in every substation. If there are discrepancies they will investigate the area looking for wise guys with jumpers.

Hi.  Do you mind answering a question?  When you say free where is the power coming from?  I ask because I saw a documentary about Georgia and it basically showed people stealing electricity on a mass scale.  Not only was it illegal it was very dangerous the way they would go about it. :(

Free power might be free for a small user where power company doesn't notice it because it's on the level of the power line loss. But once you bring in serious mining power, consumption goes way up and there is no way this will not be noticed. Check this article about the mine in Mongolia where they pay 39,000$ per day for power consumption. And Mongolia also has cheap power, around 2 cents$ per kWh https://qz.com/1054805/what-its-like-working-at-a-sprawling-bitcoin-mine-in-inner-mongolia/

Answered, it seems not legal and Op just want to test whether there is someone so fool to give his money. Fortunately, no one want to. Seems like mining industry in Georgia could be done with low cost and even free electricity, it's a good thing for people who lives in there. Although no one willing to invest, you should try to get loan from some friends or family to buy antminer, but do it legally and don't try to get a loan from the bank.

It could be done with low cost, not with free electricity. Here are some places where people have free electricity and there is a reason for that, also mining with only 1 antminer can be considered safe too but farm? No man, you will get a huge strike from goverment because this means you use electricity for comercial things + you hide it + you don't pay goverment it's fees = illegal action.
Forget wonders, be reals and don't think that you are the only smart person who found this way, there was already thought about that free electricity for 100x time by more serious people.

They would really sue you and you would really need to pay up taxes when government finds out that you are generating good income with those energy that you do consume that's why its not ideal to build carelessly if you don't really know on how your government would react on such activity. As I have posted before I don't really believe on free electricity charge since everything now has its own charge.

I think you should do more researches and learn more about mining, it is not as easy as it appears.
reading for two days is not enough to start a mining farm. Since you are planning to invest 50k i advice you to hire someone with more knowledge and experience to do all the work for you. Doing it by your self is really hard and you will face many technical problems.

Otherwise we would really loved, if you share a secret with us.
I would buy you a beer.

I have long been in the mining world .. where is there free electricity in this world? even you need a capital to make an electric generator .. you should rethink your idea .. nothing is free in this world ..

if you just make money by cheat I guess this is the way it's ridiculous.

He wont really mind to share up on where he did get those free electricity that he mention. I dont know that this free electricity do exist on where a certain individual can really claim that he has free energy. Sounds amazing and mining would really be profitable on that case but as you said this thing is just possible on cheating someone on where those electricity source came from. I agree on the word that nothing is free in this world which anything has its own cost.On op if he would seek for potential investors then it would be hard to entrust online.

you have a very good plan just that you will need to build trust first before looking for an investors on this forum. Investments is good when investors will know from beginning that they investment is safe but in a situation were people don't know about you and your idea they will find it very difficult to invest in your mining farm.

The best way you could have go about this is to have a plan that you can develop it into a project and raise fund through ico market. Your plans maybe genuine but you will find it very difficult without the foregoing recommendation as trust is always the problem with this kind arrangements. I could have had great interest if this can be plan out. Already electricity which is the major cost has been taken out of the way then we expect to make good return if much is invested.

well the most important is that he gets electricity free even if they happen to charge him later after a while it will be far lesser that what others pay from his explanation so any one intrested and try with him business is all about risk

As I probably am aware, the wide open power is less expensive or free since individuals there don't utilize it in particular, the request is too low, so they utilize it "for nothing". In any case, when you begin a mining ranch the request will expand a considerable measure and the specialists will discover it and they will need to comprehend what you are doing to utilize so much vitality. On the off chance that it was here, I would need to begin paying the power like on capital urban areas and it would make the business useless.

Anyway, I don't know whether the same occurs in Georgia. In another nation, Venezuela, the ASICs were taken and the proprietors captured. Most likely there in Georgia it's unique, yet the power won't remain free, check about it.

maybe you can give this information to your friends which have money because I don't think that people which don't live in the same city as you will give the money to invest in a farm. people need proof of yourself, they need to know the details of you, your address and if necessary they need to come to your place so they will know that they give the money with the right person.

As I probably am aware, the wide open power is less expensive or free since individuals there don't utilize it in particular, the request is too low, so they utilize it "for nothing". In any case, when you begin a mining ranch the request will expand a great deal and the specialists will discover it and they will need to recognize what you are doing to utilize so much vitality. On the off chance that it was here, I would need to begin paying the power like on capital urban communities and it would make the business useless...

Anyway, I don't know whether the same occurs in Georgia. In another nation, Venezuela, the ASICs were taken and the proprietors captured. Most likely there in Georgia it's extraordinary, however the power won't remain free, check about it.