53405$ Investment

[Snewzen]

Hello!

Alright.. I have a question I hope people can help me with!

So me and my friend live in Denmark, where we pay 0.30$ /kwh - which is obviously way to much.

We're going to invenst approximitly 53405$ in this project, where we're gonna rent a warehouse/storage(Whatever the real english term is) in Washington.


- But my real question is actually, can we count on the calculators on the internet? We've only used 2 so far, and we almost get the same number. (Around 0.10$ off)

We're both 21, so its alot of money - so we just want to "make sure"! We cannot find one bad thing about this - so why not give it a go! (Except if the bitcoin drop ALOT)


Currently we're going to use 1100$ to setup a small AntMiner in Romania, to see if we can count on the calculators - We're not expecting this to be 101% spot on. but as long as we're close, its fine.

Thx

~Snewzen

[GreatNorthData]

Our rates to host miners start at 8.06/kWh ($60/kW/month) and will go lower for bulk orders. Drop me a line if you're in need of hosting.

[crazyearner]

Hello!

Alright.. I have a question I hope people can help me with!

So me and my friend live in Denmark, where we pay 0.30$ /kwh - which is obviously way to much.

We're going to invenst approximitly 53405$ in this project, where we're gonna rent a warehouse/storage(Whatever the real english term is) in Washington.


- But my real question is actually, can we count on the calculators on the internet? We've only used 2 so far, and we almost get the same number. (Around 0.10$ off)

We're both 21, so its alot of money - so we just want to "make sure"! We cannot find one bad thing about this - so why not give it a go! (Except if the bitcoin drop ALOT)


Currently we're going to use 1100$ to setup a small AntMiner in Romania, to see if we can count on the calculators - We're not expecting this to be 101% spot on. but as long as we're close, its fine.

Thx

~Snewzen

You need to factor in a lot of different things. Spikes in diff, energy costs and consumption over the month. 2 diff jumps a month with BTC and factoring in some high ones given new tech coming out. If you not found one bad thing on mining then you are seriously looking at things totally wrong. Right now you will need aprox 110TH of mining power to generate 1 BTC per day or around 7TH to make 2 BTC a month.

Am sorry to put the downers on your project but if you have that much to invest I would just buy up BTC and hold it or trade it wisely across a number of cryptos and not bother with mining as it is very risky RIO and with the current jump in price on BTC due to what is going on your best just buying up coin holding it and not making a big risk unless you can factor every single equation into the factor. I had gone though this 2 to 3 years back and also done a number of times this year to make own mining farm up. But without free energy or very cheap your not going to RIO unless 1 very cheap or free energy and 2 cheap equipment that has a good hash rate.

Just to factor cost in antminer s7 pre order Price:       2307 USD ( 9.932 BTC ) 7.7TH per unit

[jonnybravo0311]

That's not the S7... that's the S5+.  No pricing/specs have actually been announced for the S7, other than it's going to use the new BM1385 chip which is rated for 230W / 1TH.

To OP, you're going to have to do a bunch of research if you're thinking about this.  Just saying you've got $53405 (and what a strange number to throw out there) to invest doesn't really help too much.  You seem to have figured out that Washington has cheap power rates... but it's only a few counties in Washington that have very cheap rates.  Are you going to build?  Rent?  Host?

[Nexious]

https://bitcoinwisdom.com/bitcoin/calculator

Have a look there and play around with some numbers so you can get a guideline of what you will make/loose etc. With prices for electricity and current bitcoin price I don't think it would be possible to turn a profit, unless you got some cheap hardware of course.

[philipma1957]

Our rates to host miners start at 8.06/kWh ($60/kW/month) and will go lower for bulk orders. Drop me a line if you're in need of hosting.

@ op   the guy above is pretty honest   you can use him.  or you can go to this thread



https://bitcointalk.org/index.php?topic=934581.0

buy a single s-5  have li host it and learn the game.

[Tupsu]

Hello!

We're going to invenst approximitly 53405$ in this project, where we're gonna rent a warehouse/storage(Whatever the real english term is) in Washington.

...
Thx

~Snewzen

Buy BTC

Then buy S5 from hashnest.

https://www.hashnest.com/hash_currencies/24/shop

Do not forget - Install Google Authenticator

I have today 100 x S5 in Hashnest and I'm happy

HashPower(GHS) 115,500
Costs(BTC)  153.92123983
Payout Total(BTC) 20.79891406
Maintenance(BTC) 9.76426555

[Badr]

Hello!

We're going to invenst approximitly 53405$ in this project, where we're gonna rent a warehouse/storage(Whatever the real english term is) in Washington.

...
Thx

~Snewzen

Buy BTC

Then buy S5 from hashnest.

https://www.hashnest.com/hash_currencies/24/shop

Do not forget - Install Google Authenticator

I have today 100 x S5 in Hashnest and I'm happy

HashPower(GHS) 115,500
Costs(BTC)  153.92123983
Payout Total(BTC) 20.79891406
Maintenance(BTC) 9.76426555

according my calculations you've made almost 9 BTC by mining with Maintenance/Payout(PPS) 53.11%
Maintenance - Payout Total = 11 BTC
HashPower(GHS) 115,500 x 0.00131000 = 151.3 BTC ( -2 BTC of your capital).

Actually i believe that investing 154 BTC should pay more than just 9 BTC.
please correct if i'm wrong.

[crazywack]

Where in Washington? I might be able to point you in the right direction.

[Starin]

Hey OP, I think it is not a good time to enter mining bussiness nowadays, more importantly with that high amount. I'd suggest you pick up some for testing and learning. Block halving, which will more likely to be 49 weeks and the diffuculty jump with super efficient s7 the risk is too big. If you wanna narrow down the risks, I'd suggest wait for s7 and order them as much as you can. This way the only risk you take is the BTC price and if it goes around 200-300 after the halving, I doubt anymore will do profits unless they have super cheap electric.

[Tupsu]

according my calculations you've made almost 9 BTC by mining with Maintenance/Payout(PPS) 53.11%
Maintenance - Payout Total = 11 BTC
HashPower(GHS) 115,500 x 0.00131000 = 151.3 BTC ( -2 BTC of your capital).

Actually i believe that investing 154 BTC should pay more than just 9 BTC.
please correct if i'm wrong.

Today  after block 371005
Payout Total(BTC) 22.48036266
Maintenance(BTC) 10.45986816

100 x S5  are not purchased at the same time .
But at the moment there are 100 x S5, and I do not sell or buy or reinvest  more into this account.
I want to see how much 100x S5  earn in Hashnest.

Initial balance is
HashPower(GHS) 115,500
Payout Total(BTC) 20.79891406
Maintenance(BTC) 9.76426555

I hope, that per month income to be 13-15BTC

[Beefcake]

Personally I would wait for an s7 announcement.  Then see what prices adjust to.  Don't forget to calculate the return on hashnest versus your own setup.  I don't know for sure, but I think that your investment capital is not really enough to make a good start if you have to rent space.  That can take out a huge chunk of money.  Just be careful with your calculations.

Even if hashnest is a lower payout, keep in mind that it is pretty liquid (for the s5 market) so if you are not making what you want you can sell your hash back pretty easily, and unless we see a btc price crash you should not lose too much on the deal and you might even make a little.

Good luck!