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Author Topic: Best mining hardware?  (Read 1873 times)
FruitsBasket
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November 06, 2015, 10:37:55 AM
 #41

Hello,

I may want to start a little project to make little bitcoin farm, which is hopefully profitable. I want to use usb miners. And what else do I need? Rasperry pi? And how much miners i can use for each raspberry pi?

You need to do some reading.  Most mining is done by Asics, which most come with a controller so you plug it in and set it up, and leave it alone.

Raspberry PI is a good controller for Avalon 4.1, compacs, lots of usb miners, etc.  But you have some research to do as it's a huge range of the different kinds of miners.

Just basic check what is your electricity price?  And do you have vat/import tax?
I am thinking of doing a project with college and they run the miners there 24/7. I read that the prices of electricity in the netherlands is 0.22€ per kWh.

Is that cheap or expensive?

That electricity price is expensive. You will not have ROI if the difficulty rises 3% every 14 days and pool fee is 2%.
Hmm, would I get profit when the btc price keeps rising?
Or will the dificulty screw it for me and I shouldn't start a farm?
Pool fee can be avoided easily, many pools offer no fee mining. Difficulty and Bitcoin price plays a huge part in your mining operation. A drop in price and rise in difficulty could easily mean a loss for your mining farm. The biggest one I have seen was 46% when Bitcoin price was rising very rapidly in Oct 2013.
A 46% loss of the mining operation or 46% bitcoin difficulty increase?

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  Lordmancer II — MMO RPG where you can mine cryptocurrency 
   Pre ICO: 21.08.2017 WhitePaper ANN Bounty ICO: 07.11.2017
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November 06, 2015, 05:48:21 PM
 #42

Hello,

I may want to start a little project to make little bitcoin farm, which is hopefully profitable. I want to use usb miners. And what else do I need? Rasperry pi? And how much miners i can use for each raspberry pi?

You need to do some reading.  Most mining is done by Asics, which most come with a controller so you plug it in and set it up, and leave it alone.

Raspberry PI is a good controller for Avalon 4.1, compacs, lots of usb miners, etc.  But you have some research to do as it's a huge range of the different kinds of miners.

Just basic check what is your electricity price?  And do you have vat/import tax?
I am thinking of doing a project with college and they run the miners there 24/7. I read that the prices of electricity in the netherlands is 0.22€ per kWh.

Is that cheap or expensive?

That electricity price is expensive. You will not have ROI if the difficulty rises 3% every 14 days and pool fee is 2%.
Hmm, would I get profit when the btc price keeps rising?
Or will the dificulty screw it for me and I shouldn't start a farm?
Pool fee can be avoided easily, many pools offer no fee mining. Difficulty and Bitcoin price plays a huge part in your mining operation. A drop in price and rise in difficulty could easily mean a loss for your mining farm. The biggest one I have seen was 46% when Bitcoin price was rising very rapidly in Oct 2013.
A 46% loss of the mining operation or 46% bitcoin difficulty increase?

Hes talking about the past.  Most are free or 2.5-4 pps.  Depends on type of pool you use and which pool.

But no matter what at your electricity price you should not mine there. Just to expensive for any hardware.   You could put it in a data center for less then 1/2 of the price of electricity price you mentioned.

So I would be looking into other things besides just home miners.
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November 06, 2015, 05:50:16 PM
 #43

Hello,

I may want to start a little project to make little bitcoin farm, which is hopefully profitable. I want to use usb miners. And what else do I need? Rasperry pi? And how much miners i can use for each raspberry pi?

You need to do some reading.  Most mining is done by Asics, which most come with a controller so you plug it in and set it up, and leave it alone.

Raspberry PI is a good controller for Avalon 4.1, compacs, lots of usb miners, etc.  But you have some research to do as it's a huge range of the different kinds of miners.

Just basic check what is your electricity price?  And do you have vat/import tax?
I am thinking of doing a project with college and they run the miners there 24/7. I read that the prices of electricity in the netherlands is 0.22€ per kWh.

Is that cheap or expensive?

That electricity price is expensive. You will not have ROI if the difficulty rises 3% every 14 days and pool fee is 2%.
Hmm, would I get profit when the btc price keeps rising?
Or will the dificulty screw it for me and I shouldn't start a farm?
Pool fee can be avoided easily, many pools offer no fee mining. Difficulty and Bitcoin price plays a huge part in your mining operation. A drop in price and rise in difficulty could easily mean a loss for your mining farm. The biggest one I have seen was 46% when Bitcoin price was rising very rapidly in Oct 2013.
A 46% loss of the mining operation or 46% bitcoin difficulty increase?

Hes talking about the past.  Most are free or 2.5-4 pps.  Depends on type of pool you use and which pool.

But no matter what at your electricity price you should not mine there. Just to expensive for any hardware.   You could put it in a data center for less then 1/2 of the price of electricity price you mentioned.

So I would be looking into other things besides just home miners.
So you mean I need to hire a place in a energy generating company?

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  Lordmancer II — MMO RPG where you can mine cryptocurrency 
   Pre ICO: 21.08.2017 WhitePaper ANN Bounty ICO: 07.11.2017
   Website ~ Telegram ~ FB ~ Reddit ~ Twitter
notlist3d
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November 06, 2015, 05:54:48 PM
 #44

So you mean I need to hire a place in a energy generating company?

Look at different services on the forums that host miners.  Some specialize on you send a miner to them and you pay them to host it.  You have a much better chance with this as it is again less then 1/2  of what your home cost is and possible even cheaper.

But look around and research before sending a miner out to someone.  There are some well known ones, and I would stick to them.
FruitsBasket
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November 06, 2015, 05:56:12 PM
 #45

So you mean I need to hire a place in a energy generating company?

Look at different services on the forums that host miners.  Some specialize on you send a miner to them and you pay them to host it.  You have a much better chance with this as it is again less then 1/2  of what your home cost is and possible even cheaper.

But look around and research before sending a miner out to someone.  There are some well known ones, and I would stick to them.
There are well known companies or miners?
Also thanks for this awesome idea, then I can make profit, but I need to find a trusted one that is located in the Netherlands.

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  Lordmancer II — MMO RPG where you can mine cryptocurrency 
   Pre ICO: 21.08.2017 WhitePaper ANN Bounty ICO: 07.11.2017
   Website ~ Telegram ~ FB ~ Reddit ~ Twitter
notlist3d
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November 06, 2015, 06:24:32 PM
 #46

So you mean I need to hire a place in a energy generating company?

Look at different services on the forums that host miners.  Some specialize on you send a miner to them and you pay them to host it.  You have a much better chance with this as it is again less then 1/2  of what your home cost is and possible even cheaper.

But look around and research before sending a miner out to someone.  There are some well known ones, and I would stick to them.
There are well known companies or miners?
Also thanks for this awesome idea, then I can make profit, but I need to find a trusted one that is located in the Netherlands.

Well known companies that host miners.  I don't think you will find one in the netherlands though.

I think you are going too have use elsewhere.  Main spots I can think of is China, Canada, US.   But I'm sure there are a few others.
FruitsBasket
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Lordmancer II - a game where you can mine


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November 06, 2015, 06:32:58 PM
 #47

So you mean I need to hire a place in a energy generating company?

Look at different services on the forums that host miners.  Some specialize on you send a miner to them and you pay them to host it.  You have a much better chance with this as it is again less then 1/2  of what your home cost is and possible even cheaper.

But look around and research before sending a miner out to someone.  There are some well known ones, and I would stick to them.
There are well known companies or miners?
Also thanks for this awesome idea, then I can make profit, but I need to find a trusted one that is located in the Netherlands.

Well known companies that host miners.  I don't think you will find one in the netherlands though.

I think you are going too have use elsewhere.  Main spots I can think of is China, Canada, US.   But I'm sure there are a few others.
Can you name a few trusted ones, so I can look at it?

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  Lordmancer II — MMO RPG where you can mine cryptocurrency 
   Pre ICO: 21.08.2017 WhitePaper ANN Bounty ICO: 07.11.2017
   Website ~ Telegram ~ FB ~ Reddit ~ Twitter
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