Bitcoin Forum

I stopped mining yesterday, as pseg (the monopoly electric company) has said that my new adjusted rate is $931.00  :o (I have only been running 4 antminers since the beginning of last month.)
Of course you can't argue with the only fucking electric company....
                   Basically in order to pull those numbers ($25.2 a day), I am spending 0.58 cents a kilawat, or whatever the hell unit it is.
                  As if the $0.25 peak summer timer bullshit wasn't enough of a ripoff.....
                  How they calculate their adjusted costs.... beyond me.  ???
                  Welcome to NY, biggest rip off state in the US. 
                  Just thought i'd share my misery on the forum with you guys, and see if anyone else has dealt with something like this  :'( 
                 

$0.58 per Kwh ? How can they charge that?!

What power stations are they using, mouse wheels ?

I thought the UK was bad.

I've dealt with similar issues with PG&E in California...

At this point I have <500w of machines running (an Antminer S1, and a Jalapeño I keep running because it was my first ASIC miner I ever got lol) and my electric bill is still up about $200 from where it was before I started mining...

It's like because I ran up a big bill in past months, even though it's been 2 months since I've backed off, they still don't believe it and insist on overcharging. I've fought but in the end...I pay up, or the wife gets pissed because no electricity = no Real Housewives of Whyohgodwhy.

Ok, I feel better that I'm not crazy now.  Same sort of deal with me.  I guess i'm just screwed. 
Unreal those scumbags can get away with this. 

Best advice is find a hosting center, there are multiple on the forums.  That is way  to much for any profit.  I hope  you are ale to find something, and ouch on bill.

Yeah if they switched over to peak metering and you happen to be using power during the peak hours you could really take a big hit.  If that's the case you should shut down your miners during the afternoon hours.

Better solution would be to either move them to a cheap area or just sell them and buy BTC directly. 

I am just selling my current stuff.
I'm probably going to either buy a new s3 or something to put in my office (although I pay the electric there so... lol) or wherever I can, because not having a miner running is just depressing lol.

I feel your pain. I have 8 S1 :-\

Well maybe you will be able to find some sort of solution for free electricity? Try some company of your friend or so..

Best option would be a hosting solution.  With noise/heat most companies would not be happy to have these around using company resources.

See that's where those obsolete block erupters come in.  They can be had for free or near free and still can spit out stats on CGMiner.  Set difficulty low and CGMiner will have shares flipping by, just don't pay attention to your pool balance and instead enjoy the double digit electric bills (rather than 4 digit).

I envy anyone with double digit bill lol.  Last time I had double digit was a apartment with locked in electricity cost.

I manage to do it here in Southern California Edison territory with $0.35.  I have every house light off at night sans 1 small LED downstairs and 1 upstairs in the bathroom which kicks onto full when there is motion.  If I need more light I turn on my reading lamp with is a 4W LED (replaced halogen).  I don't run the AC even though it's 81F in the house at night.  I use a laptop that pulls 21W at the wall for surfing.  I have minimal electronics plugged in to avoid standby drain.

Yeah it's annoying as hell, but I'm saving for other things. And I hate the utility companies so much that I refuse to enhance their profits.

You people should take a look on this thread: https://bitcointalk.org/index.php?topic=622998.0 Find a nice colocation and ship your miners there!

That is taking pretty extreme measures, but I commend you for that :). 


Thanks, but it is not fulfilling to do that.
And for usb crap, mining isn't that exciting that i'm going to mine with basically a 0 percent chance of profit  :P   

Colocation makes sense if you are shipping a significant number or miners from the start of acquisition.  If you're sending 1 S1 over, the $20 to ship it negates any profit the S1 might make.

Over here our electricity rate is set forth by a commission board
It tends to average out based on supply and demand at any given time when theirs a heatwave the rates can be ridiculously high for a period before dropping down so it doesn't impact much on average.
That said I guess running miners on the average in NYC gets you a damn high energy bill