Free electricity

[cosmoskane]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

[drazah]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

This is asked a lot here but a lot of other information is needed too. How much free electricity? Is it stable? Will you be running the machines out of your home or a seperate location? How much space do you have available? Free electricity is a great start, pretty much anything will (at some point) give you a ROI depending on what you buy and the scale. Currently the Antminer S9 is the most effecient but costs the most. S7s will also generate decent coin.

There are bitcoin calculators online (Coinwarz is my favorite one) where you can input all the information and it will show you how long it will take for an ROI at current market and will show you how much bitcoin you can generate depending on how much hashing power you input.

[cosmoskane]

Hi thanks for replying
Well i can say infinite free energy but a lil unstable i get powercuts now and then for a couple hours in every few days . i also have a floor of about 1000sqft all free but i cant set up something too huge because we have a power limit something of about 3-4kw or 5-7kw im not sure but its sure is in this range please suggest something that is power effecient . and also i will be running it at home in a suburban area.

[drazah]

The Antminer S9 sounds like your best bet, but they are currently ~2000 USD per + the cost of a PSU and other little things like cabling and cooling might be needed. They are the most effecient, pulling ~1300w each @ ~12ths.

[xavier77]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

Why waste your time mining and getting back what you paid for the miner after 1 year or so? Your friend is absolutely correct. Please be a wise person and don't waste your money mining. Try making your own gambling website, or make a faucet with a lot of ads, make a youtube video, try freelancing. There are a lot of ways to earn money. Please forget about mining as it takes a lot of time. You will get impatient very soon. P.S: I am speaking from my personal experience

[drazah]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

Why waste your time mining and getting back what you paid for the miner after 1 year or so? Your friend is absolutely correct. Please be a wise person and don't waste your money mining. Try making your own gambling website, or make a faucet with a lot of ads, make a youtube video, try freelancing. There are a lot of ways to earn money. Please forget about mining as it takes a lot of time. You will get impatient very soon. P.S: I am speaking from my personal experience

Calling mining a "waste" is relative, along with saying he will get impatient...

Mining is still profitable if you take time and realize what your getting into and realize how the mining game works. If you have a good scenario to mine and also believe that bitcoin will continue to grow then you can sometimes see a ROI in less than half a year (or FAR less this free electricity), then anything past that is pure profit PLUS you can always sell off your equipment after ROI for a bigger step in profit if thats what your aiming to do in the short term. Building a gambling site and/or making a youtube video would be tenfold more work and you have to HOPE you generate traffic to net any type of profit. Mining in essence is fairly straight forward and its not a huge time sink like building a site or a youtube page.

For people with free electricity, your ROI will heavily depend on the amount of money you spend on your gear. You can buy older, less efficient miners but at a far lower value and hit an ROI relatively quick BUT it may not be that much value to be worth it. Personally, Id rather invest in mining then invest money AND a lot more time into other things.

The gravy train may have left, but that doesnt mean there is still profit to be made in mining.

[mindrust]

Dude, if you somewhat have free electricity you can make infinite money. Just buy any s7's and s9's you saw and start the show.

I hope by "free" you don't mean "stolen" electric though. That's not cool. Because someone else will be paying for your expenses.

[xavier77]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

Why waste your time mining and getting back what you paid for the miner after 1 year or so? Your friend is absolutely correct. Please be a wise person and don't waste your money mining. Try making your own gambling website, or make a faucet with a lot of ads, make a youtube video, try freelancing. There are a lot of ways to earn money. Please forget about mining as it takes a lot of time. You will get impatient very soon. P.S: I am speaking from my personal experience

Calling mining a "waste" is relative, along with saying he will get impatient...

Mining is still profitable if you take time and realize what your getting into and realize how the mining game works. If you have a good scenario to mine and also believe that bitcoin will continue to grow then you can sometimes see a ROI in less than half a year (or FAR less this free electricity), then anything past that is pure profit PLUS you can always sell off your equipment after ROI for a bigger step in profit if thats what your aiming to do in the short term. Building a gambling site and/or making a youtube video would be tenfold more work and you have to HOPE you generate traffic to net any type of profit. Mining in essence is fairly straight forward and its not a huge time sink like building a site or a youtube page.

For people with free electricity, your ROI will heavily depend on the amount of money you spend on your gear. You can buy older, less efficient miners but at a far lower value and hit an ROI relatively quick BUT it may not be that much value to be worth it. Personally, Id rather invest in mining then invest money AND a lot more time into other things.

The gravy train may have left, but that doesnt mean there is still profit to be made in mining.

Can you back your words once BTC falls to 250$ again? And again, one with no steady income other than relying on mining is soon to be impatient. As I said, it is my opinion so no hard feelings.

[drazah]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

Why waste your time mining and getting back what you paid for the miner after 1 year or so? Your friend is absolutely correct. Please be a wise person and don't waste your money mining. Try making your own gambling website, or make a faucet with a lot of ads, make a youtube video, try freelancing. There are a lot of ways to earn money. Please forget about mining as it takes a lot of time. You will get impatient very soon. P.S: I am speaking from my personal experience

Calling mining a "waste" is relative, along with saying he will get impatient...

Mining is still profitable if you take time and realize what your getting into and realize how the mining game works. If you have a good scenario to mine and also believe that bitcoin will continue to grow then you can sometimes see a ROI in less than half a year (or FAR less this free electricity), then anything past that is pure profit PLUS you can always sell off your equipment after ROI for a bigger step in profit if thats what your aiming to do in the short term. Building a gambling site and/or making a youtube video would be tenfold more work and you have to HOPE you generate traffic to net any type of profit. Mining in essence is fairly straight forward and its not a huge time sink like building a site or a youtube page.

For people with free electricity, your ROI will heavily depend on the amount of money you spend on your gear. You can buy older, less efficient miners but at a far lower value and hit an ROI relatively quick BUT it may not be that much value to be worth it. Personally, Id rather invest in mining then invest money AND a lot more time into other things.

The gravy train may have left, but that doesnt mean there is still profit to be made in mining.

Can you back your words once BTC falls to 250$ again? And again, one with no steady income other than relying on mining is soon to be impatient. As I said, it is my opinion so no hard feelings.

Specifically why i said "If you have a good scenario to mine and also believe that bitcoin will continue to grow then you can sometimes see a ROI in less than half a year"

You obviously don't believe in it, hence why you probably failed with mining as would anyone. It takes a strong heart in bitcoin to be a successful miner, and he is talking about free electric to run a miner, Not sure where you got the idea of "no steady income other than relying on mining is soon to be impatient". Obviously i CANT back my words if it falls to $250, but I can also say "i told you so" if it rises to 1k+, but thats all speculation and really serves no purpose in even posting about.

[socks435]

HI !
so lately ive been thinking into getting into mining . i am from india so does anyone have an idea how is mining in india a friend told me its not profitable these days . Also my electricity is free so can anyone please suggest me a machine which has a good ratio of turnout to my investment . Also is mining less or more profitable in different parts of the world assuming lower difficulty rating for india cause i cant imagine indians getting into this stuff ??

It can be profitable if the price of bitcoin these comming halving will increase above 1k value so mining bitcoin will be profitable.. if you have also free electricity..
But if you mine right now with the same present price today. it can not be profitable.

[tbonetony]

If your electricity is free, then your ROI in days *COULD* be as simple as:

[initial_cost] / [daily_income]

where,
[initial_cost]: your choice of miner, psus, cables
[daily_income]: use a miner calculator to figure out how much bitcoins / approximate fiat income you can make

Now here comes the more realistic version:
1. Recurring costs: Internet, ventilation (if required), noise-cancellation, etc.
2. Maintenance costs: cables, boards, psu's, etc. could wear out or get broken any time, you need to plan against them.
3. Discount your daily income from online calculators if you have disrupted eletricity or internet periods accordingly.
4. Is your mining operation disruptive to neighbors, clients, drop-by's, etc. who could potentially ruin your operation?
5. Is your landlord likely to interfere with your operation in any means?
6. Is your site secured?
7. Afterall, is your labour worth all of these?