Is it worth mining?

[QuintLeo]

I just don't see how you can not roi in four years with free electricity.

 If the miner dies before it achieves RoI.

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[n2004al]

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

According to me NO. I will suggest to not buy nothing and to leave away your dream to mining. It is an work that have doubt profit. With the price of hardware which needed to mine (which is to high) and with the difficulty which can be increased like it want your profit will be always in query.

[eyeknock]

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

with free power for the next 4 years i think that you can go for mining, ROI will take you some time ofc, but in teh end i think is still profitable, the free power for the next 4 years is a huge advantage for mining. definitelly i will go for it if i was under your situation.

Another one point is if you have money to build your mining rig, but thats another question

s7 do not doubt, 4.86th looks pretty good for me.

[Yofun]

If you have to ask. Most likely no.

You need a good plan. A large amount of funds to buy in bulk for cheaper rates and cheap power.

[notlist3d]

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

According to me NO. I will suggest to not buy nothing and to leave away your dream to mining. It is an work that have doubt profit. With the price of hardware which needed to mine (which is to high) and with the difficulty which can be increased like it want your profit will be always in query.

With "free" electricity you don't need the newest most efficient gear.  For example S7 if free electricity... you dont really care about the efficiency to a point more the power.

But used miner market there are some good miners going for decent rates.  For example S3's depending on price and if OP has PSU's or needs to buy I think you would be suprised on ROI on used gear.

New gear is for those with high electricity prices really.   It allows them to mine.  And it is still possible to ROI just takes certain variables to happen.

[VirosaGITS]

I suggest using AntMiner S5 with the price of $370, but currently Discontinued Shipping if not available in your country
then I suggest to go to this site https://www.bitmaintech.com/product.htm to see what miner is still available, but you know other
sites that has available miner then stick to your trusted one.

Happy Mining

Thats too expensive now, try to buy them for under 300$, especially if they're not local as you will have to pay shipping and maybe border fees.

I just don't see how you can not roi in four years with free electricity.

 If the miner dies before it achieves RoI.

Well we're talking about mining in general, if i think about my situation, i very much doubt my 6 gpu and my 10 outdated miners will all break. If half break, i'll still ROI. But i guess it could happen.

The only way i see it happen unless you're actually the most unlucky guy on the planet is some catastrophe befalling your place. Like a fire or a mega surge after a lightning strike. In which case i believe the surge protector guarantee might cover it(?) and in case of a fire or such sinistre, there's insurance for that.

But i guess its not 100% guaranteed.

[YuginKadoya]

Thats too expensive now, try to buy them for under 300$, especially if they're not local as you will have to pay shipping and maybe border fees.

You are probably right, well that's the only site I know where to buy quality mining Rig if you have other sites that you might know please share it here so he could choose if not the cheapest maybe near to his country so he could decide thanks  

[QuintLeo]

In a "free" electric situation, the only reason to worry about efficiency is to be able to maximise your hashrate - but if you don't have a lot of cash available to buy miners with, buying older lower-efficiency miners might make sence as they tend to COST less per GH, 'till you start getting close to the limit on your free electric supply.

[VirosaGITS]

Thats too expensive now, try to buy them for under 300$, especially if they're not local as you will have to pay shipping and maybe border fees.

You are probably right, well that's the only site I know where to buy quality mining Rig if you have other sites that you might know please share it here so he could choose if not the cheapest maybe near to his country so he could decide thanks  

Not right now, thats the only place where you can get home miners at the moment from a manufacturer. There's tons of resellers selling overpriced stuff but i can't recommend that. Your best bet is the marketplace here, buy used from another user.

So if you only want to buy "new" there's Bitmain at the moment with the S7 which is not super stellar imo.

[YuginKadoya]

Not right now, thats the only place where you can get home miners at the moment from a manufacturer. There's tons of resellers selling overpriced stuff but i can't recommend that. Your best bet is the marketplace here, buy used from another user.

So if you only want to buy "new" there's Bitmain at the moment with the S7 which is not super stellar imo.

OK Thanks for the advice, I would like to check the marketplace if I could get some great stuff there.

But even if S7 is not that great at the moment, as a miner there is a possibility to profit
if you know the right place, time, and equipment you might need to keep on track with your bitcoin.

thanks in advance  

[QuintLeo]

The S7 itself doesn't seem to be a bad miner - it is the "no bloody way to achieve RoI on it under current conditions for pretty much anyone" PRICING that is the bad part.

[YuginKadoya]

Well in the year 2009 you can mine BTC200 BTC in just a few days in the year 2014 BTC1 BTC is equal to
98 years that is why ASIC made Machine miners! and you need to join a mining pool! 

[Ninjahitoko]

You won't make a substantial income from mining, because you need to constantly upgrade your equipment.
Unless you are willing to invest like $100000.

[wenG]

I think not profitable there are many expenses to be  consider before puting your own mining and need big budget setting  up.

[YuginKadoya]

You won't make a substantial income from mining, because you need to constantly upgrade your equipment.
Unless you are willing to invest like $100000.

that is why miners are decreasing instead of an increase because of the continues expenses and maintenance they give for their miners, but that doesn't mean you will not ROI because of it. there are still a few who is still reaching ROI because of mining.

[VirosaGITS]

Not right now, thats the only place where you can get home miners at the moment from a manufacturer. There's tons of resellers selling overpriced stuff but i can't recommend that. Your best bet is the marketplace here, buy used from another user.

So if you only want to buy "new" there's Bitmain at the moment with the S7 which is not super stellar imo.

OK Thanks for the advice, I would like to check the marketplace if I could get some great stuff there.

But even if S7 is not that great at the moment, as a miner there is a possibility to profit
if you know the right place, time, and equipment you might need to keep on track with your bitcoin.

thanks in advance  

Thanks in advance for what? do you need more information? Ask away, and As QuintLeo just said;

The S7 itself doesn't seem to be a bad miner - it is the "no bloody way to achieve RoI on it under current conditions for pretty much anyone" PRICING that is the bad part.

My reason for disrecommending the S7 is exactly that. Even in ideal mining condition, such as 0.05$/kWh ~ and 2-4% diff increase from now on, no more 5% and such, no pool fee and no BTC price plummeting, the S7 will not ROI by halving, at which point any profit after that is dubious at best.

[notlist3d]

My reason for disrecommending the S7 is exactly that. Even in ideal mining condition, such as 0.05$/kWh ~ and 2-4% diff increase from now on, no more 5% and such, no pool fee and no BTC price plummeting, the S7 will not ROI by halving, at which point any profit after that is dubious at best.

We do not know what will happen at halving.  Prices could go up or yes many miners will have to stop.   We cannot say with any certainty this far away.

One thing to keep in mind is the selling of the machines.  Even if someone has higher electricity they can mine with it for quiet a while.   S7 will still hold value at around having, they might have to sell to ROI.  But with owning a newer miner the good thing is value is better.  Look at SP20, S4 S5, Avalon 4.1 to show the trend of miner still having good value even though they are not the most current.

[VirosaGITS]

My reason for disrecommending the S7 is exactly that. Even in ideal mining condition, such as 0.05$/kWh ~ and 2-4% diff increase from now on, no more 5% and such, no pool fee and no BTC price plummeting, the S7 will not ROI by halving, at which point any profit after that is dubious at best.

We do not know what will happen at halving.  Prices could go up or yes many miners will have to stop.   We cannot say with any certainty this far away.

One thing to keep in mind is the selling of the machines.  Even if someone has higher electricity they can mine with it for quiet a while.   S7 will still hold value at around having, they might have to sell to ROI.  But with owning a newer miner the good thing is value is better.  Look at SP20, S4 S5, Avalon 4.1 to show the trend of miner still having good value even though they are not the most current.

I agree, which is why i don't think the S7 will maintain its price. This may sound counter intuitive but here is why;

When the S5 first came out, the price per GH was 0.3$~ After all this time, the S5's are still reasonably worth something. But is that because units don't devalue that much or because the S5 was properly priced from the start? S5's are about 0.2$~/GH now.

Now look at the S7, already went down... 100$? And the Price per GH is over 0.4$ door to door. About double a S5, and half electricity consumption does not mean double the value.

I would value the S7 at 0.3$/GHs, no more. Each GH return much less last year, when S5's were introduced, yet the price per GH on the S7 is much higher.

Why? Because Bitmain has monopoly.

[p0k3r]

I think that if you have FREE power for 4 years, that should be enough time to get quite a large profit. Best place to get a miner would probably http://bitmain.com/en.html. 

[seoincorporation]

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

The miner you should buy is this one:

http://www.spondoolies-tech.com/products/sp50

110 TH/s ± 10% is a lot of mining power, it have nice potential.