What is a good setup with an investment of $5000 - cheap electricity-

[AquaPanda]

I am not new to Bitcoin. I have a healthy knowledge of Bitcoin as a whole. I even dabbled in altcoin mining with some GPU's. So i have a general conception on Bitcoin mining. But i get many different points of views as to mining on a small scale. So I just wanted to post the question of my situation and see if maybe your reply's will have some consistent answers. Reading the forums for a few years now i see that some smart and experienced people could have some guidance to point me in the right direction.

I currently live where my power is around $4.30 to $4.80. I have an investment capital of around $5000 that was a no interest loan from my folks that i will be making very small monthly payments on. So ROI is tricky to factor in. And to be honest I'm looking at it as free money as the payments are so small and hell there my folks. They might one day say nothing more is owed. So ROI is not an issue.

What i am asking for is opinions on what is the best coarse of action to get me up and running with a solid operation and maybe getting ahead of the curve a little as far as hardware. Not wanting to leap forward to fall back with equipment that will become obsolete as soon as i plug it in. Or if going many but smaller less powerful is the way to go.

My goal is to keep expanding as when i am operational i can keep up with the movement of technology. Its just making the right decisions at the beginning is imperative to my success. Any thought would be welcome and thank you in advance for your time.

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[RichBC]

I currently live where my power is around $4.30 to $4.80.  

Before any advice is given you need to clarify the all important electricity price? Do you mean $0.043 to $0.048 /KWh or something else?


Rich

[Amph]

with 5k you can buy almost 3 S7 or 50 s3 or 15 s5

aside from free electricity i would go with the s7, to maximize the roi time

there is also another version of s7 with 4 tera and 1k wattage, it has the same efficiency

[VirosaGITS]

I am not new to Bitcoin. I have a healthy knowledge of Bitcoin as a whole. I even dabbled in altcoin mining with some GPU's. So i have a general conception on Bitcoin mining. But i get many different points of views as to mining on a small scale. So I just wanted to post the question of my situation and see if maybe your reply's will have some consistent answers. Reading the forums for a few years now i see that some smart and experienced people could have some guidance to point me in the right direction.

I currently live where my power is around $4.30 to $4.80. I have an investment capital of around $5000 that was a no interest loan from my folks that i will be making very small monthly payments on. So ROI is tricky to factor in. And to be honest I'm looking at it as free money as the payments are so small and hell there my folks. They might one day say nothing more is owed. So ROI is not an issue.

What i am asking for is opinions on what is the best coarse of action to get me up and running with a solid operation and maybe getting ahead of the curve a little as far as hardware. Not wanting to leap forward to fall back with equipment that will become obsolete as soon as i plug it in. Or if going many but smaller less powerful is the way to go.

My goal is to keep expanding as when i am operational i can keep up with the movement of technology. Its just making the right decisions at the beginning is imperative to my success. Any thought would be welcome and thank you in advance for your time.

Per kW per month? Then tons of S3 could be the best but a lot of management. S5's are a great middle ground. If its per day, then nope. Typically we do per kWh math so maybe you can specify the rate.

[AquaPanda]

I am not new to Bitcoin. I have a healthy knowledge of Bitcoin as a whole. I even dabbled in altcoin mining with some GPU's. So i have a general conception on Bitcoin mining. But i get many different points of views as to mining on a small scale. So I just wanted to post the question of my situation and see if maybe your reply's will have some consistent answers. Reading the forums for a few years now i see that some smart and experienced people could have some guidance to point me in the right direction.

I currently live where my power is around $4.30 to $4.80. I have an investment capital of around $5000 that was a no interest loan from my folks that i will be making very small monthly payments on. So ROI is tricky to factor in. And to be honest I'm looking at it as free money as the payments are so small and hell there my folks. They might one day say nothing more is owed. So ROI is not an issue.

What i am asking for is opinions on what is the best coarse of action to get me up and running with a solid operation and maybe getting ahead of the curve a little as far as hardware. Not wanting to leap forward to fall back with equipment that will become obsolete as soon as i plug it in. Or if going many but smaller less powerful is the way to go.

My goal is to keep expanding as when i am operational i can keep up with the movement of technology. Its just making the right decisions at the beginning is imperative to my success. Any thought would be welcome and thank you in advance for your time.

Per kW per month? Then tons of S3 could be the best but a lot of management. S5's are a great middle ground. If its per day, then nope. Typically we do per kWh math so maybe you can specify the rate.

What is the formula. my bill just shows me usage per day. cost per day. usage per 30 days. cost per 30 days.

[AquaPanda]

i can tell you i had 31 days on cycle
1243 usage
AVG 40 per day
cost per day is 4.19

[AquaPanda]

i think i figured it out. And its not as cheap as i thought. It is .0943   Does that seem right?

[AquaPanda]

With 5k and cheap electricity better you buy 2 s7 and the rest you buy s3.

With 2 s7 you can get 1.85969600BTC/month and get Roi in 8 months if bitcoin in today rate.

Thanks man. but im still trying to figure out if i got the math right on Cost per KWH.

My usage is 1432 and my bill was 127.88

so  127.88/1432=.0893   so thats my KWH right?

and if so is that still decent to make a reasonable profit monthly?

[Lituation]

S5 ROI's are better considering S7 prices in dollar terms but let's not forget we have a block halving process 8 months later. Miner companies either decrease their prices or wouldn't find any buyers for these equipments that can't even make ROI. I think investing in Bitcoin itself is more profitable right now (in 8 month plan).

[fr4nkthetank]

With 5k and cheap electricity better you buy 2 s7 and the rest you buy s3.

With 2 s7 you can get 1.85969600BTC/month and get Roi in 8 months if bitcoin in today rate.

Thanks man. but im still trying to figure out if i got the math right on Cost per KWH.

My usage is 1432 and my bill was 127.88

so  127.88/1432=.0893   so thats my KWH right?

and if so is that still decent to make a reasonable profit monthly?

yeah 0.09 per kwh would be a reasonable rate, not really low, but average.  Dont forget you can sell your miners after a while, so factor that in your ROI.

[VirosaGITS]

With 5k and cheap electricity better you buy 2 s7 and the rest you buy s3.

With 2 s7 you can get 1.85969600BTC/month and get Roi in 8 months if bitcoin in today rate.

Thanks man. but im still trying to figure out if i got the math right on Cost per KWH.

My usage is 1432 and my bill was 127.88

so  127.88/1432=.0893   so thats my KWH right?

and if so is that still decent to make a reasonable profit monthly?

yeah 0.09 per kwh would be a reasonable rate, not really low, but average.  Dont forget you can sell your miners after a while, so factor that in your ROI.

That's actually pretty expensive, 0.04$/kWh in East Canada (also free cooling 8 months a year), would get better profitability hosting hardware in a datacenter than pay 0.09+ per kWh. Just a thought.

Its hard to say what will be profitable right now, we're looking at a huge difficulty jump this round, if that keep up, not much will remain profitable at 0.1~ for very long.

[BTCish]

0.09 $ is pretty high, you need to consider all good and calculate again, keep in mind rising diff too.

[HarryKPeters]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

[VirosaGITS]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

[notlist3d]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

I would look at difficulty change recently aswell.  It's scary to see a possible 10 percent change in this day/age I thought we were past 10 jumps. But it's not looking good.

So when you do your ROI OP I would use some big numbers on possible ROI just to see what it will look like if it stay's bad.  I'm hoping this is just Avalon and Bitmain and will end soon... but i'm afraid the competition with a little higher priced BTC will bring a lot more hash our way.

[VirosaGITS]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

I would look at difficulty change recently aswell.  It's scary to see a possible 10 percent change in this day/age I thought we were past 10 jumps. But it's not looking good.

So when you do your ROI OP I would use some big numbers on possible ROI just to see what it will look like if it stay's bad.  I'm hoping this is just Avalon and Bitmain and will end soon... but i'm afraid the competition with a little higher priced BTC will bring a lot more hash our way.

Indeed, i am using 5% increment at the moment, which is still scary. Hard to believe that 40 PH/s suddenly went online, i don't thing it could come from S7's or SP50 so soon or similar. There were those 1PH/s cargo container being shown around last month. Maybe a "batch" of those made it online?

It really make the ROI of S7's bleak if it continue this way.

I don't think 10% is sustainable, but its still scary to see it, even if its just once.

[bargain]

I am not new to Bitcoin. I have a healthy knowledge of Bitcoin as a whole. I even dabbled in altcoin mining with some GPU's. So i have a general conception on Bitcoin mining. But i get many different points of views as to mining on a small scale. So I just wanted to post the question of my situation and see if maybe your reply's will have some consistent answers. Reading the forums for a few years now i see that some smart and experienced people could have some guidance to point me in the right direction.

I currently live where my power is around $4.30 to $4.80. I have an investment capital of around $5000 that was a no interest loan from my folks that i will be making very small monthly payments on. So ROI is tricky to factor in. And to be honest I'm looking at it as free money as the payments are so small and hell there my folks. They might one day say nothing more is owed. So ROI is not an issue.

What i am asking for is opinions on what is the best coarse of action to get me up and running with a solid operation and maybe getting ahead of the curve a little as far as hardware. Not wanting to leap forward to fall back with equipment that will become obsolete as soon as i plug it in. Or if going many but smaller less powerful is the way to go.

My goal is to keep expanding as when i am operational i can keep up with the movement of technology. Its just making the right decisions at the beginning is imperative to my success. Any thought would be welcome and thank you in advance for your time.

Firstly for a $5000 budget, I would suggest 2 S7s from bitmain. It is tricky to tell as you say that your power is less than $5, but I cannot tell what you mean, is this a fixed rate, is this for unlimited eletricity, what is the price per unit of power, I cannot help any further without this information, but the S7 is the most efficient miner avaliable to the public, if you want to get the most return from your investment then that is the best!

[Amph]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

wait, how is the s5 taking 3-4 if in one months you do $90 only, and with 0.05 electricity which is cheap enough, you pay already $21 so only 70 net in profit

1 s5 cost more than 300(350) this mean 5 months, used can be another story, but so is the case for s7

[BTCish]

With that cheap electricity it is worth to get those S7's.

[VirosaGITS]

Personally i would go for safety and buy some server PSU with half of the money invested to S5 and half for S7 asics.

Buying old gear (S2,S3,S4) makes no sense. First of all the effiency and secondly the guarantee, For hw long will they work...

Actually buying S7 with actual cheap~near free electricity is a bad investment, the ROI takes a very long time 8months+ versus S3~S4 that take 2-3 months, S5 that take 3-4months.

Beside the S7 that was sniped from Bitmain when the price collapse at 4BTC, they are a pretty bad investment.

wait, how is the s5 taking 3-4 if in one months you do $90 only, and with 0.05 electricity which is cheap enough, you pay already $21 so only 70 net in profit

1 s5 cost more than 300(350) this mean 5 months, used can be another story, but so is the case for s7

1300GH/s is 100$ and that means 3 months or so. Yes used, i'm not sure where you can get S5 brand new?

Also 0.05$/kWh is just one value, its not the cheapest available, but its a good cost to mine at. If you pay 0.05$ ROI should be 4months or a bit less. If it take longer, you probably overpaid.