What mining asic is profitable in my country?

[crairezx20]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

[OmegaStarScream]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

0.53$ / kw ? If it's the case then no it's not profitable at all lol . Some countries have even lower then this and it's not profitable . (someone correct me if I'm wrong)

[crazyearner]

Well to give you an idea am currently at o,12 per kw in K and cant even profit from mining any more due to how  hard diff is and how little btc is made. Only way forward now is free energy or some massive amounts of mining equipment with cheap power.

[Amph]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

0.53$ / kw ? If it's the case then no it's not profitable at all lol . Some countries have even lower then this and it's not profitable . (someone correct me if I'm wrong)

yeah lol i have 0.25 and it's not profitable by a long shot here, let alone double of that

your only possibility OP is Cloud at this point, if you really love mining, or otherwise you can check someone that rent machine, i've spotted one that has free electricity in this section

[altcoinhosting]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

The rest of the guys are totally right... i have 0.27€/kwh, and i'm mining at a loss (i'm mining just for fun with very old HW).

I wouldn't recommend cloudmining tough... There are only a handfull of companies i would trust, but the amount of coins you make is so low it's hardly worth it...

[lemipawa]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

Are you being charged for a Commercial rate electricity or Residential?
Your rate of $0.53/kwh is high for a Residential rate in the Philippines so I assume that your rate is Commercial.
Residential rate is only averaging at $0.23/kwh

[notlist3d]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

The rest of the guys are totally right... i have 0.27€/kwh, and i'm mining at a loss (i'm mining just for fun with very old HW).

I wouldn't recommend cloudmining tough... There are only a handfull of companies i would trust, but the amount of coins you make is so low it's hardly worth it...

What hardware are you running still?  I have to give you some dedication points for still mining at that rate.

That electricity price is rediclous.

[altcoinhosting]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

The rest of the guys are totally right... i have 0.27€/kwh, and i'm mining at a loss (i'm mining just for fun with very old HW).

I wouldn't recommend cloudmining tough... There are only a handfull of companies i would trust, but the amount of coins you make is so low it's hardly worth it...

What hardware are you running still?  I have to give you some dedication points for still mining at that rate.

That electricity price is rediclous.

Like i said, really old one
I'm running 2 antminer U2's and one gridseed gc3355.

for sha256, i'm running at about 3Ghz, and about 350k scrypt (i know i can actually use the gridseed for dual mining, but i'm actually using an old PSU that isn't suitable for the power draw the dual mining would cause)...

It's just for fun, i'm actually just burning a bit of electricity, finding some shares and generating almost no satoshi's (i could actually make a lot more by spending 15 minutes/day on faucets)

[VirosaGITS]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

The rest of the guys are totally right... i have 0.27€/kwh, and i'm mining at a loss (i'm mining just for fun with very old HW).

I wouldn't recommend cloudmining tough... There are only a handfull of companies i would trust, but the amount of coins you make is so low it's hardly worth it...

What hardware are you running still?  I have to give you some dedication points for still mining at that rate.

That electricity price is rediclous.

Like i said, really old one
I'm running 2 antminer U2's and one gridseed gc3355.

for sha256, i'm running at about 3Ghz, and about 350k scrypt (i know i can actually use the gridseed for dual mining, but i'm actually using an old PSU that isn't suitable for the power draw the dual mining would cause)...

It's just for fun, i'm actually just burning a bit of electricity, finding some shares and generating almost no satoshi's (i could actually make a lot more by spending 15 minutes/day on faucets)

How about using your miners for a lottery mining instead? Instead of getting some dust you would have a low chance of making bank. That would be a very low but still a chance at hitting ROI and beyond.

[notlist3d]

Hi guys i just want to know if mining is profitable in my country.. My electricity cost is 0.53$ what do you think what asic is good to be profitable?

The rest of the guys are totally right... i have 0.27€/kwh, and i'm mining at a loss (i'm mining just for fun with very old HW).

I wouldn't recommend cloudmining tough... There are only a handfull of companies i would trust, but the amount of coins you make is so low it's hardly worth it...

What hardware are you running still?  I have to give you some dedication points for still mining at that rate.

That electricity price is rediclous.

Like i said, really old one
I'm running 2 antminer U2's and one gridseed gc3355.

for sha256, i'm running at about 3Ghz, and about 350k scrypt (i know i can actually use the gridseed for dual mining, but i'm actually using an old PSU that isn't suitable for the power draw the dual mining would cause)...

It's just for fun, i'm actually just burning a bit of electricity, finding some shares and generating almost no satoshi's (i could actually make a lot more by spending 15 minutes/day on faucets)

Yea sadly you will never be able to mine profitable in that range.  Just to high of costs, really high to be honest.

Your best bet is hosting and cloud.   You will need to get to around .10 cents before I would do anything more then your doing.  Maybe get a few compac's if you want more devices as they won't cost much to run for a long time.  But any big gear is kinda out of the picture.

[altcoinhosting]

How about using your miners for a lottery mining instead? Instead of getting some dust you would have a low chance of making bank. That would be a very low but still a chance at hitting ROI and beyond.

True...  But those odds are ridiculous. 

[VirosaGITS]

How about using your miners for a lottery mining instead? Instead of getting some dust you would have a low chance of making bank. That would be a very low but still a chance at hitting ROI and beyond.

True...  But those odds are ridiculous. 

Well a few % is better than a few dollars over a year with a few times that as the electricity cost. A small chance is better than 0% chance.

[notlist3d]

No mining could ever be profitable with those rates, now you could mine with a couple set ups but nothing highly profitable. You could get a micro windows pc (80 -100$ depending on style) and a powered hub (15-20$) , a 20w solar panel (http://www.amazon.com/X-DRAGON-Efficency-Technology-Smartphones-Foldable/dp/B00NGKPX4Y/ref=sr_1_6?ie=UTF8&qid=1445956041&sr=8-6&keywords=20+watt+solar+panel 57$). A battery backup to make it through the night (13$)


For a total of 170$ you could have :
Full windows pc that uses 5-6w
Powered usb hub with a dc 5v usb cable
Battery backup 14$
20w Solar panel

Now for 25$ each you can get 9gh/s at 3.1w, you should be able to easily run 3 of these without any power constraints.

So this may sound nuts but buying any miner would just be throwing money away and with this set up you have many things you could reuse for other projects and you could stake off the grid making money on POS coins.

Unless he's just wanting to throw away money he should stick to like compacs if he is wanting to mess with gear.  Anything big just will never work out.  Compacs use so little he could play with one for cheap.

But on really mining he would have to look into hosting or cloud.  As it will be less then 1/5th of his electricity which is crazy but most will beat it by a lot on price.

[notlist3d]

No mining could ever be profitable with those rates, now you could mine with a couple set ups but nothing highly profitable. You could get a micro windows pc (80 -100$ depending on style) and a powered hub (15-20$) , a 20w solar panel (http://www.amazon.com/X-DRAGON-Efficency-Technology-Smartphones-Foldable/dp/B00NGKPX4Y/ref=sr_1_6?ie=UTF8&qid=1445956041&sr=8-6&keywords=20+watt+solar+panel 57$). A battery backup to make it through the night (13$)


For a total of 170$ you could have :
Full windows pc that uses 5-6w
Powered usb hub with a dc 5v usb cable
Battery backup 14$
20w Solar panel

Now for 25$ each you can get 9gh/s at 3.1w, you should be able to easily run 3 of these without any power constraints.

So this may sound nuts but buying any miner would just be throwing money away and with this set up you have many things you could reuse for other projects and you could stake off the grid making money on POS coins.

Unless he's just wanting to throw away money he should stick to like compacs if he is wanting to mess with gear.  Anything big just will never work out.  Compacs use so little he could play with one for cheap.

But on really mining he would have to look into hosting or cloud.  As it will be less then 1/5th of his electricity which is crazy but most will beat it by a lot on price.

Compacs are still going to require him to get a powered hub and then to run them all on his desktop will probably use 100w min an hour and if he runs them 24/7 for a month that's 38$ a month just on his pc power, I know my method sounds crazy but he is getting a lot of hardware that is fully reusable and can also stake while he adds more miners or just run as many compacs as he wants off an ac adapter connected to the wall while keeping everything else off the grid.

I would suggest using a RPI with it, it can be ran at much lower costs.   And a powered hub for 1 or 2 is not expensive.

He just will not be able to home or hobby mine.  He is to high on electricity.  His only option left is mining for fun which the compac does for cheap.  And he can always reuse the RPI down the road for another project if board.

[notlist3d]

No mining could ever be profitable with those rates, now you could mine with a couple set ups but nothing highly profitable. You could get a micro windows pc (80 -100$ depending on style) and a powered hub (15-20$) , a 20w solar panel (http://www.amazon.com/X-DRAGON-Efficency-Technology-Smartphones-Foldable/dp/B00NGKPX4Y/ref=sr_1_6?ie=UTF8&qid=1445956041&sr=8-6&keywords=20+watt+solar+panel 57$). A battery backup to make it through the night (13$)


For a total of 170$ you could have :
Full windows pc that uses 5-6w
Powered usb hub with a dc 5v usb cable
Battery backup 14$
20w Solar panel

Now for 25$ each you can get 9gh/s at 3.1w, you should be able to easily run 3 of these without any power constraints.

So this may sound nuts but buying any miner would just be throwing money away and with this set up you have many things you could reuse for other projects and you could stake off the grid making money on POS coins.

Unless he's just wanting to throw away money he should stick to like compacs if he is wanting to mess with gear.  Anything big just will never work out.  Compacs use so little he could play with one for cheap.

But on really mining he would have to look into hosting or cloud.  As it will be less then 1/5th of his electricity which is crazy but most will beat it by a lot on price.

Compacs are still going to require him to get a powered hub and then to run them all on his desktop will probably use 100w min an hour and if he runs them 24/7 for a month that's 38$ a month just on his pc power, I know my method sounds crazy but he is getting a lot of hardware that is fully reusable and can also stake while he adds more miners or just run as many compacs as he wants off an ac adapter connected to the wall while keeping everything else off the grid.

I would suggest using a RPI with it, it can be ran at much lower costs.   And a powered hub for 1 or 2 is not expensive.

He just will not be able to home or hobby mine.  He is to high on electricity.  His only option left is mining for fun which the compac does for cheap.  And he can always reuse the RPI down the road for another project if board.

Yeah this is totally an option, I haven't used a pi 2 so he may have enough power to also stake at the same time as well.

I have a PI2 sitting there I played with a little.  I have a few projects I haven't got to yet.  But it should be able to stake and do a lot more.

They really did give it a lot more power. Just seems much more snappier. Runing compacs on RPI 1 B, it's not bad just at points when starting to run I max out CPU so slower.  The PI2 has no issues. I suspect if you stake it's a pretty good option for it. 

I was very impressed considering it is like 35 bucks, which would pay off quick at OP's electricity level.