I have $5,000 to buy equipment and almost free electricity. Where do I start?

[Tabata11]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

[Netpyder]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

with the amount of fund you have, i would consider s5 miners or wait a little till the s6 miners are out in june-july.

[notlist3d]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

with the amount of fund you have, i would consider s5 miners or wait a little till the s6 miners are out in june-july.

S6 we really don't have a date forsure on.  It really depends on if you want to mine now, or wait till next generation.

Also a lot of companies are out of stock on this gen miners. 

[kowwip]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

[Amph]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

it may seems so, but with some calcualtion you can easily tell that it's not worth it even with free electricity(he said almost, which is worst btw)

you need 4-5 months ROI with antminer S5(0.36 a month and they cost minimum 1.5 btc), not worth it

better to buy bitcoin instead or you can wait for antminer s6(it should come soon) which is about  1.5 times better, this mean less than 3 months roi

[Webnet]

after looking this hardware comparison chart. https://en.bitcoin.it/wiki/Mining_hardware_comparison u should find a miner suitable for u.

[Tabata11]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

Almost free electricity ? Nothing more beautiful it if you own a mining equipment . s5 is great for you now.

it may seems so, but with some calcualtion you can easily tell that it's not worth it even with free electricity(he said almost, which is worst btw)

you need 4-5 months ROI with antminer S5(0.36 a month and they cost minimum 1.5 btc), not worth it

better to buy bitcoin instead or you can wait for antminer s6(it should come soon) which is about  1.5 times better, this mean less than 3 months roi

Where can I find more information about the s6 miners? Is there a thread or a website I can look at?

[Netpyder]

https://bitcointalk.org/index.php?topic=1003216.0

https://bitcointalk.org/index.php?topic=902305.0

[adaseb]

You guys are giving him bad advice with the S5. Its overpriced and pointless if he has free electricity.

Best to get inefficient miners like the KNC Jupiters or the S3. Which are almost "free" these days.

[mavericklm]

i'm with adaseb on this!

buy in bulk s3 or s3+ and keep in mind the future upgrades when you buy the psu

s2, dragon is also a good choice if cheap

s1 is too much work and too little reward

spondoolies is also a good choice, and sp10 is very cheap if noise is not an issue!

[RaginglikeaBoss]

The best bang for your buck would probably be farms of S3's being liquidated for almost nothing at the moment.  Seriously, like 50 of them.  Just try not to burn down the neighborhood.

[Tabata11]

I live in an apartment that is owned by a large university so I don't think they monitor electricity usage or anything like that.

Also, how long does it take to set up the mining equipment? I have little knowledge about computer systems and mining equipments. and I would like to mine to earn bitcoins and learn about them at the same time.

[philipma1957]

I live in an apartment that is owned by a large university so I don't think they monitor electricity usage or anything like that.

Also, how long does it take to set up the mining equipment? I have little knowledge about computer systems and mining equipments. and I would like to mine to earn bitcoins and learn about them at the same time.

you want s-3's  here is a legit seller


http://zoomhash.com/products/antminer-s3-bitcoin-miner-453-gh-s


buy 3 and use this psu to start your mine


http://www.amazon.com/EVGA-SuperNOVA-1300G2-ATX12V-120-G2-1300-XR/dp/B00COIZTZM/ref=sr_1_1?ie=UTF8&qid=1428291999&sr=8-1&keywords=evga+1300+g2


you can run 3 machines on that psu. 

you may find a better price for  s-3's  as low as 85 here and there.

trust just get 3 of them they will be hot.

3 s-3's = 1350-1500gh  and pull  1100-1250 watts     the psu = 169 if you find 3 s-3's for 300 you are at   469 out of pocket

If power is truly cheap 2 cents a kwatt  you will be ahead 44 to 171 dollars by Jan 1st 2016.

[mavericklm]

cooling and/or ventilation will be an issue in the summer time. keep that in mind when you reach the ''maximum'' number of miners
also test your electric to see how much you can suck before u cause a fire/ breaker tripping...
maybe you need more concentrated power than s3, sp3x may be your answer; but you will need to make some mods to keep it's noise down
using the ventilation built into the building may be an alternative, or not. look into it

[notlist3d]

cooling and/or ventilation will be an issue in the summer time. keep that in mind when you reach the ''maximum'' number of miners
also test your electric to see how much you can suck before u cause a fire/ breaker tripping...
maybe you need more concentrated power than s3, sp3x may be your answer; but you will need to make some mods to keep it's noise down
using the ventilation built into the building may be an alternative, or not. look into it

Cooling becomes huge in summer.  During winter you can run easily more then you can most places.  The trick is venting exhaust and getting new air.

I personally got rid of a few miners including the A1 Dragon.  Some miners just are not good for summer.   You might look into underclocking as-well it really can help depending on miner with the heat it puts out.

[Tabata11]

Do I need to purchase a set of fans to keep the miners cool? What do I need to purchase to keep them cool? Also, running the AC low wouldn't be sufficient enough to cool them right? I usually run my AC below 70 degrees all summer because my bill doesn't change or anything.

Also, how do I check to see if the electricity power in my apartment is strong enough to support multiple mining equipment? I see that the maximum is 125 amp or not to exceed 110 amp per branch circuit stab... I don't know want to purchase mining equipments if my apartment electricity can't support them.

[Amph]

Do I need to purchase a set of fans to keep the miners cool? What do I need to purchase to keep them cool? Also, running the AC low wouldn't be sufficient enough to cool them right? I usually run my AC below 70 degrees all summer because my bill doesn't change or anything.

Also, how do I check to see if the electricity power in my apartment is strong enough to support multiple mining equipment? I see that the maximum is 125 amp or not to exceed 110 amp per branch circuit stab... I don't know want to purchase mining equipments if my apartment electricity can't support them.

new fans can help with the noise, those miners are all very loud, they can also help with cooling them, as long as they move a good amount of air, you should see about CFM when purchasing a fan, the higher the more air it moves, and bigger the fan the less noisy is

for electricity usually those apartment can support 3kw, now i don't know if you are with 120/220, but amperage should be around 15 or 27

[stonerider]

The University will notice that you are sucking down a large amount of electricity. They will come down hard on you. Your mining career will end well before you experience ROI. They may even press criminal charges against you as well. If you don't think so, go ahead, no skin off my teeth.

[abyrnes81]

I want to get into mining but I don't know where to start. I believe I have all the right things to mine successfully. I have $5,000 to invest in mining equipments and almost free electricity. My rent for my apartment includes utilities so my electricity rate is constant every month. However, I don't know anything about mining so where should I start?

I would like to give you my personal suggestion, don't start to "mining" not it is not more convenient and you will lose only money and (especially) time. Maybe you should start to trade altcoin and bitcoin, you can make (easily) 20-30 bucks per day.

[alh]

I live in an apartment that is owned by a large university so I don't think they monitor electricity usage or anything like that.

Also, how long does it take to set up the mining equipment? I have little knowledge about computer systems and mining equipments. and I would like to mine to earn bitcoins and learn about them at the same time.

Obviously you could inquire of your landlord regarding the electrical capacity for your apartment. My bet is that is when they will make clear your terms of usage, and I'll bet that a "money making enterprise", such as Bitcoin mining is prohibited.

If you want to "fly under the radar" your electrical capacity will run out long before your $5000 budget does in terms of mining hardware. While your electricity appears low cost, or nearly free, it isn't. If you get cross-wise with the University over electrical usage, you could have much bigger problems with your education, than just Bitcoin mining. I think learning is fine, but maxing out your electrical usage and budget won't bring you any great riches.

One last item. What if 20% or more of the other students in your housing complex followed your lead? Do you think the University still wouldn't notice? Do you think they would condone and/or ignore you running a long extension cored out the window and selling recharges for Plug-in electric car?

Just my $.02.