Bitcoin Forum

i have free electricity and 5,000.00 $. is it worth to buy asic miners??

now i mine with nvidea cards through nice hash. i like it but i can afford to buy asic. i pay nothing for electricity where i live. they take fixed money of 300 EGP monthly. around 15 $ fixed no matter how much i consume.

if i buy asic miners, when will i get initial deposit?

btw, i have air conditioner with as low as 14 c.

you seems like in dubai/kuwait who grant free electricity if im not mistaken :D

Depends on your strategy of mining and calculation.

if you buy ASIC yeah its faster.. but for sure it will be 100% loss if you need more faster/the item is brokedown.
hence if you buy GPU rig, at least you could get back 70% of total GPU price.

im preferred GPU than ASIC. *its my 2cent

If it is free, it is better to build a rig using graphics cards. I have watched a video on youtube or I forgot, read I guess that there are more options in mining a number alt coins using graphics cards than ASICs.  They say ASICs is only limited to only a few kinds of alt coins.  So to me, if you can build it a computer, you can also build one designed for mining...

If I Have free electricity. I will buy ASIC Miners fast. can also GPU because we can well controlled mining process.
its all depends your strategy of mining and calculation

You got me confused. so GPU is better than ASIC. should i make many computers?? to make the best use of free electricity.

I would go ASIC, Look at Bitmain Litecoin and Dash miners, easiest way to make your money back, but I would also be looking at the S9 Bitcoin miners, or Ethereum Pandaminers.  I envy you having free electricity, but make the most of it.

The amount you have with you is enough to buy at least two antminer s9. This will give the better profit than any asic miner you can find the market. I hope that you are doing GPU mining with the nice hash and some network pool.
You may find the miner purchase option in bitmain site or with the ebay resellers to buy the miner. But please confirm the hash rate it can produce. Else performance and profit rate will differs.

If you mine in nicehash they have profitability calculator link: https://www.nicehash.com/profitability-calculator
You can choose ASIC miner that you would buy and see all the profit.
My suggestion is to buy BITMAIN AntMiner L3+, BITMAIN AntMiner D3 or BITMAIN AntMiner S9.

I have next to free electricity . Want to start proper mining also. Going to start small enough though

Since you have no problems mining either Bitcoin or Altcoins from what I can see, definitely go with GPUs.
They're more reliable than the Antminer S9, which tends to have often hashboard failures.
However I can't comment on the Antminer L3 and D3 as I've no idea. I assume they're very profitable as well but I don't know about their reliability.

I also agree with you. gpu mining is good for me now since i have 6 of radeon cards. also when they get old i can buy them and renew the system better than antminer. i had access to large mining facility and they too use gpus not asic.

i will study more this week and then within the next 10 days decide. meanwhile your help is appreciated here. hope all of you have free electricity.

You are lucky if you are just having free electricity in your place. If you already know how to mine then you should try, I think you can gain also, but if you think that if you are not gaining at all then you can stop. Try the GPU rig but 1st you should also research about it and also about ASIC miners who among the two are much better.

At this point had you directly invested your money in the btc the amount you had would yielded you a handsome returns straight away as the btc prices is soaring big time now. Mining is a long time process and the profit to make may take time. Also how come you have free electricity?

Mining is so risk and you can’t start mining alone.
without group will loss so that find about 10 other users and start mining

I dont know how you expect for someone to answer this question... do you want a complete guide or what?
If you were serious about this you could just research for yourself, there are tons of videos and thread to learn from.
Why would anyone bother to guide you if you dont bother to learn for yourself?

we pay fixed rate of around 15 usd per month no matter how much we consume. it is a bug in our country.

Okay i dont understand this...but...hey lets ask... I was thinking something about this, but its sooo easy that they can track you down, and see that you are wasting HUGE amounts of load on their network, and they won't do anything?

I mean if they see the difference in your previous/current month of electricity usage, and they can see on central where your network is connected, that load on your part is huge can't they force you to pay more - or even force sue you/turn of your electricity? Because it doesnt have sense using 1-10k KW for same amount of price? It can be kinda risky, but if not... Profits are very good then on your end..

I am just curious how all the newbies seem to have $4000 or $10,000 and Free Electricity to start up their mining gig.

Not all newbies into this forum signifies that they are poor in the real world come to think off that some of them do only register an account for solely asking on the things regarding on what they would supposed to do knowing that this forum do have the capability on answering peoples queries specially on cryptorelated and also to think off that not all legendaries are rich. Forum ranks doesnt imply on the financial state of a certain account holder.