Latest posts of: Hakkane

More things you have to consider:

1) Decide where to install your miner. Miners generate heat, they are hot machines. Always in ventilated areas. Never: a closet. Never: textiles or paper or cardboard close to the miner or the PSU. If you need an electric extender cable, use a good one. Always: earth-grounded (3 prongs=yes. 2 prongs=no)

2) Cheap PSUs are also non-efficient. Example: a cheap PC PSU have a efficiency of 60%. S3 consumes 350 watts, but with bad PSU will consume 500 watts. You pay cheap electricity as you said (0.05 USD), but a bad PSU will waste a lot of electricity and money. Example: a PSU with "80 plus Bronze" is more efficient and not expensive

For a mining operation, you will need to learn and decide more things in the next days. Maybe you know this already, maybe not. Just in case:

3) "Mining pool": a) decide which pool you will use. Go to mining pools sub-forum, choose one with happy users. b) sign up in the pool's webpage. c) Learn how to configure your S3 for that pool. Doggie's S3 guide (you have posted there already) should indicate it.

4) You need a Bitcoin wallet to store your bitcoins. a) decide the type of wallet: software wallet (free, but you will ned good internet connection an 50 Gigabytes free in your computer. Example: Armory), cloud wallet (free and easy but not secure. Example: Blockchain Wallet), hardware wallet (highly secure but you have to buy it. Example: Trezor). b) configure your mining pool account with your bitcoin wallet.

5) Decide what to do with your bitcoins: a) save them for a long time, b) use the for commerce, c) exchange them for dollars, euros or your local currency.

6) If you decide to exchange them for currencies, you need to choose an Exchange webpage. a) Choose a trustable webpage. It has to operate in your country, Georgia. b) Check the minimun withdrawal (example: cex.io minimun is 200 euros). c) Check the fees for withdrawals (example: cex.io fee is 20 euros)