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Author Topic: About Starting in mining  (Read 2637 times)
leowonderful
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September 04, 2016, 01:22:52 AM
 #21

In my opinion, Bitmain is the one of the leading companies providing the mining equipments, I'm not sure if it's worth on these days though.
Bitmain's practically the only one if you have electricity that's not free. Avalon's rumored to be releasing the A7 soon, but who knows how long that'll take... and quality issues with their new owner comapny (i expect it'll be similar to their old quality, but just in case
.). Besides that, Bitmain's done an average job- not as good as I'd like, but they've done some good and some bad.
abayan
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September 04, 2016, 01:28:20 AM
 #22

Oh its ten cents a kilowatt hour. I misread that as one cent for some reason.
Yeah with prices this high I don't think mining is profitable. You need to be at six cents or below from everything I've read to be very profitable.
(Even with the new generations of miners like the S9)

If you really believe in Bitcoin, spend a couple thousand dollars and put a couple coins in cold storage.
Take another couple hundred dollars and try to do some trading.
I would say that is your best bet to make a profit.



Trading requires caution. You need to study the coins on coinmarketcap.com to decide when to buy and when to sell. Start small, don't invest thousands of dollars at first, better start with $50 till you get the hang of it.

Small time to big time Smiley You are right invest small at first because you are just learning in the worldd of bitcoin so in the first you are loosing your money but you learn something just learn from  yyour mistakes and dont do it again Smiley Good luck

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QuintLeo
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September 04, 2016, 11:28:47 PM
 #23


- My electricity price is " 0.1$ for each kilowatt "


 10 cents / kwh is VERY marginal for being able to even break even on mining, long term.
 IMO consider seriously having whatever mining gear you get hosted, or consider moving to an area with a much lower electric cost, before you start mining.

 This is also a very good time to "wait and see" as there have been quite a few announcements of upcomming gear that isn't actually being delivered yet - do some research, and consider that you don't have to mine Bitcoin, you CAN mine "altcoins" and often the altcoins are MORE profitable for months to a year at a time for the same amount of $ investment in mining gear.

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