Am I too Late?!

[hedgy73]

having free eletricity  is a no brainer. it would be automatic for me to mine ,if i get the juice for free.  just find out what the limit is  so  they dont cut ur gravy train off. dont get ripped off for the gear tho , it will just counter the free juice.

Same here! If I had access to free or inclusive commercial electricity I would mine with every piece of hardware I could get my hands on.

[neordicICE]

electricity aint never free unless you steal it.. And even then someone is paying 4 it

[hedgy73]

electricity aint never free unless you steal it.. And even then someone is paying 4 it

There are clever ways of using it without stealing.

[Amph]

electricity aint never free unless you steal it.. And even then someone is paying 4 it

There are clever ways of using it without stealing.

but with those ways, it isn't exactly free, even with solar panels or other conventional way, there are some costs for the maintenance, a part from the starting cost

[Vod]

well... You may need a computer like this one:



This is the scale of mining today. Since it's like a lottery system it is theoretically possible to still mine with a home computer. The odds however are dismal. It will likely take hundreds or thousands of years to find a block.

really since the Chinese mega-mines it's go big or go home.

Is that a photo from an actual bitcoin mining operation?   

[Bit_Happy]

well... You may need a computer like this one:



This is the scale of mining today. Since it's like a lottery system it is theoretically possible to still mine with a home computer. The odds however are dismal. It will likely take hundreds or thousands of years to find a block.

really since the Chinese mega-mines it's go big or go home.

"Since it's like a lottery system"... you could be better of in a casino, because some games offer much better odds.  

[notlist3d]

well... You may need a computer like this one:



This is the scale of mining today. Since it's like a lottery system it is theoretically possible to still mine with a home computer. The odds however are dismal. It will likely take hundreds or thousands of years to find a block.

really since the Chinese mega-mines it's go big or go home.

"Since it's like a lottery system"... you could be better of in a casino, because some games offer much better odds.  

I'm not a huge fan of lottery system.  You can still mine profitable but it takes mining smart.   

It is no longer 3 month ROI.  You will need no import tax, and low electricity.  If you have this you can compete and pull a profit.

[hedgy73]

well... You may need a computer like this one:



This is the scale of mining today. Since it's like a lottery system it is theoretically possible to still mine with a home computer. The odds however are dismal. It will likely take hundreds or thousands of years to find a block.

really since the Chinese mega-mines it's go big or go home.

Is that a photo from an actual bitcoin mining operation?  

Yes, apparently its a KnC mining farm: http://www.datacenterknowledge.com/archives/2014/07/10/massive-bitcoin-mines-spring-up-in-warehouses/

Sorry for the naff link its the best I could find quickly, I have seen it mentioned before though.

[trendax]

Yes, apparently its a KnC mining farm: http://www.datacenterknowledge.com/archives/2014/07/10/massive-bitcoin-mines-spring-up-in-warehouses/
Sorry for the naff link its the best I could find quickly, I have seen it mentioned before though.

You're correct. This is KNC's Clear Sky Mining Farm in Boden Sweden.
They operate out of several hangars, on a former military helicopter base right next to a hydroelectric station.
Given the cold climate of Sweden it is assumed KNC are "free air cooling" without cold or hot aisle separation, a simply matter of opening the hanger doors.

https://www.knccloud.com
https://www.youtube.com/watch?v=jWiT4RxY18s

[hedgy73]

Yes, apparently its a KnC mining farm: http://www.datacenterknowledge.com/archives/2014/07/10/massive-bitcoin-mines-spring-up-in-warehouses/
Sorry for the naff link its the best I could find quickly, I have seen it mentioned before though.

You're correct. This is KNC's Clear Sky Mining Farm in Boden Sweden.
They operate out of several hangars, on a former military helicopter base right next to a hydroelectric station.
Given the cold climate of Sweden it is assumed KNC are "free air cooling" without cold or hot aisle separation, a simply matter of opening the hanger doors.

https://www.knccloud.com
https://www.youtube.com/watch?v=jWiT4RxY18s

Thank you for the information .

[nwfella]

Short answer to your question is basically Yes, you are too late.  The free electricity certainly puts your ROI ahead of virtually everybody else but purchasing used equipment off of ebay is going to be costly.  The truth is, you'll probably find much better deals in the [Marketplace] section.  But best case scenario, your still looking at a 6-8 month ROI and that's assuming bitcoin difficulty remains relatively static (which it likely won't)

[notlist3d]

Short answer to your question is basically Yes, you are too late.  The free electricity certainly puts your ROI ahead of virtually everybody else but purchasing used equipment off of ebay is going to be costly.  The truth is, you'll probably find much better deals in the [Marketplace] section.  But best case scenario, your still looking at a 6-8 month ROI and that's assuming bitcoin difficulty remains relatively static (which it likely won't)

If you have low priced electricity it is not to late.   If you have import taxes, high electricity, etc then it is to late.

ROI is no longer 3 month like it once was.  Expect longer mining time to get ROI.  But it can be done.

[neordicICE]

well... You may need a computer like this one:



This is the scale of mining today. Since it's like a lottery system it is theoretically possible to still mine with a home computer. The odds however are dismal. It will likely take hundreds or thousands of years to find a block.

really since the Chinese mega-mines it's go big or go home.

How much does something like that cost?

[techgeek]

Work smarter, why bother into mining?

Just create something traditionally, and adapt it with bitpay and you should be having more bitcoin then the average user.

No ones really late, but whats worrying me is that after 6 years of introduction, no etf update or anything moving forward about other companies to adopt it.

[trendax]

How much does something like that cost?

Given KNC design, manufacture and operate multi data center scale operations, you can’t simply imagine the phenomenal expenses involved. To give you an idea the company said it will invest $150 million more in the next 18 months. Press information indicates KNC raised $29 million in the past 12 months, Bitfury which runs equally sized farms raised $40 million. http://www.coindesk.com/bitcoin-venture-capital/

Also if you're interested in the costs of this magnitude try hunting around for the company's annual report, this is typically available to investors. For example take a look at the regulated mining firm DigitalBTC, they're required by law to publicly disclose this information. http://digitalbtc.com/announcements/