Start Mining with 2500$ Budget.

[crazyivan]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

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[notlist3d]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

Exiting the market is easy, sell your gear.  It is common for people to do this.

I would agree the block halving is a bigger deal.  We don't know really what will happen.  Best case we gain a good amount in price before hand.  But if it stays the same with halving it would not be good.

[NorrisK]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

Exiting the market is easy, sell your gear.  It is common for people to do this.

I would agree the block halving is a bigger deal.  We don't know really what will happen.  Best case we gain a good amount in price before hand.  But if it stays the same with halving it would not be good.

If the price increase with a good amount, won't this lead to people switching their miners on again? Thus increasing the difficulty, leaving you in the same position (unable to reach ROI)?

[notlist3d]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

Exiting the market is easy, sell your gear.  It is common for people to do this.

I would agree the block halving is a bigger deal.  We don't know really what will happen.  Best case we gain a good amount in price before hand.  But if it stays the same with halving it would not be good.

If the price increase with a good amount, won't this lead to people switching their miners on again? Thus increasing the difficulty, leaving you in the same position (unable to reach ROI)?

We just don't know what will happen at halving.  I mean we could have btc around what it is now, and mining drop.

We can guess and speculate.  But we will not know what it will do until we get closer.  A year is a long time in crypto world.

[nvaler]

compare electricity costs and see if its profitable

[notlist3d]

compare electricity costs and see if its profitable

I'm not sure why this thread is being bumped.  It was solved already for OP.

In this case was not just electricity cost, but also import cost.  Keep in mind all costs that factor in when calculating ROI.

[crazyivan]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

Exiting the market is easy, sell your gear.  It is common for people to do this.

I would agree the block halving is a bigger deal.  We don't know really what will happen.  Best case we gain a good amount in price before hand.  But if it stays the same with halving it would not be good.

Selling your gear is not so easy to without a significant loss. You buy a miner, mine with it 3-4 months and then try to sell it, u ll have to accept 30% loss on your purchase price. You buy a cloud miner, mine with it for 3-4 months and you can possibly sell it at the same or even higher price, depending on market conditions. I did this several times.

[notlist3d]

The problem with home mining is even if you do have cheap power and access to the miner, there is still the question of exiting the market.

At one point, you ll want to exit the market, replace miners, upgrade, etc. All this is very hard with home mining. With cloud, you can exit any time you want, at least with companies which provide this service.

Also, take into account block halving which ll take place in about a year. At this point, current, existing miners ll be extremely unprofitable unless the price goes up big time.

Exiting the market is easy, sell your gear.  It is common for people to do this.

I would agree the block halving is a bigger deal.  We don't know really what will happen.  Best case we gain a good amount in price before hand.  But if it stays the same with halving it would not be good.

Selling your gear is not so easy to without a significant loss. You buy a miner, mine with it 3-4 months and then try to sell it, u ll have to accept 30% loss on your purchase price. You buy a cloud miner, mine with it for 3-4 months and you can possibly sell it at the same or even higher price, depending on market conditions. I did this several times.

I think you are using old timelines.   Long ago yes you could mine 90 days (3 months) and turn profit and sell and make exxtra.

Now yes I mine with all of my miners longer then 3 months.  I would guess I had my Dragon 1T around a year or so before selling.  So I only sell after they have  been well mined with.  And it does add extra not take away (in my case at least).

What cloud mining site are you repeatedly doing this on?

[Badr]

Thanks for everyone shared information and gave a true advice here.
i already bought brand new AntMiner S5+ with 3x PSUs.

I'm expecting it by next Sunday and will share back information and videos, please wish me good luck with it.

[notlist3d]

Thanks for everyone shared information and gave a true advice here.
i already bought brand new AntMiner S5+ with 3x PSUs.

I'm expecting it by next Sunday and will share back information and videos, please wish me good luck with it.

Just to make sure.  You do have 220/240 that you will be using for it right?

Just checking as starting with 110 would not work.   I'm guessing you know this just making sure

[-droid-]

Thanks for everyone shared information and gave a true advice here.
i already bought brand new AntMiner S5+ with 3x PSUs.

I'm expecting it by next Sunday and will share back information and videos, please wish me good luck with it.

Just to make sure.  You do have 220/240 that you will be using for it right?

Just checking as starting with 110 would not work.   I'm guessing you know this just making sure

yeah even 208v would work, alot of data centers are equipped with 208v... so 208/220/240 are all key to getting that s5+ running.  otherwise its one expensive conversation piece

[zoro2000]

I am from egypt and I am buying two

 2thtc/s for bitcoin mining

[Badr]

Yes, i have 220v power here and welling to start up my farm with this S5+ miner.

[Badr]

I am from egypt and I am buying two

 2thtc/s for bitcoin mining

it's good to see Egyptians here bro,
you can PM me if you have a time to chat about mining Bitcoins in Egypt.

[Badr]

Update :

Already mining now using the s5+ and making almost 16 USD daily, so i think it's a good way to make easy money so I conceder it as a serious start for a nice bitcoin farm in Egypt.

Wish me good luck.