21 cents per kw, Any way to mine?

[papadrams]

Are you from Greece too? Same prices here!!  

[fr4nkthetank]

thats too expensive.  I'm sorry.  You could get a antminer s7, but you would have to sell it in 6 months.  You could make a profit, probably break even, but 21 cents...ouch.  Maybe you can buy it, and host it somewhere for a lot cheaper.  (do a lot of research first).

[Bitsaurus]

thats too expensive.  I'm sorry.  You could get a antminer s7, but you would have to sell it in 6 months.  You could make a profit, probably break even, but 21 cents...ouch.  Maybe you can buy it, and host it somewhere for a lot cheaper.  (do a lot of research first).

Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.

[helloeverybody]

Are you from Greece too? Same prices here!!  

Price is in the UK,  makes me laugh when I'm in the USA and all the air condition units should not be adjusted due to the price of electricity.. 

[alh]

thats too expensive.  I'm sorry.  You could get a antminer s7, but you would have to sell it in 6 months.  You could make a profit, probably break even, but 21 cents...ouch.  Maybe you can buy it, and host it somewhere for a lot cheaper.  (do a lot of research first).

Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.

I have to take exception to the comment about hosting and centralization. There is a huge difference between "cloud mining" and "hosting". A hosting facility does exactly that. It supplies electricity, space, cooling, and internet access, period. You own the miner, and direct in what way it's used. The hosting facility doesn't care how you use your miner. If you want to mine some obscure alt-coin, they don't care as long as you pay your monthly bill. You do have trust them not abscond with your hardware and not damage it. There are lots of the places.

Cloud mining on the other hand is just a financial transaction where you fund the ownership and use of the miners. You generally have zero control over the mining operation. You don't own anything, and are completely at the mercy of the operators to not just take your money and run, and pretend to cloud mine and not actually run a Ponzi scheme.

[notlist3d]

thats too expensive.  I'm sorry.  You could get a antminer s7, but you would have to sell it in 6 months.  You could make a profit, probably break even, but 21 cents...ouch.  Maybe you can buy it, and host it somewhere for a lot cheaper.  (do a lot of research first).

Having it hosted kind of takes away the decentralization. There's no point to personal mining other than supporting the network. At his rate, he would be better off supporting Bitcoin by creating demand and making $ that way.

I have to take exception to the comment about hosting and centralization. There is a huge difference between "cloud mining" and "hosting". A hosting facility does exactly that. It supplies electricity, space, cooling, and internet access, period. You own the miner, and direct in what way it's used. The hosting facility doesn't care how you use your miner. If you want to mine some obscure alt-coin, they don't care as long as you pay your monthly bill. You do have trust them not abscond with your hardware and not damage it. There are lots of the places.

Cloud mining on the other hand is just a financial transaction where you fund the ownership and use of the miners. You generally have zero control over the mining operation. You don't own anything, and are completely at the mercy of the operators to not just take your money and run, and pretend to cloud mine and not actually run a Ponzi scheme.

That is a good point on cloud mining even hashnest which is the one most used you cannot pick where to mine.  It's on their own pool and they do not let you point it where you want.  You will be mining BTC and it will be at their pool.

Hosting you have much more freedom as far as pools, which can be nice.  Sometimes it's nice to support some of the smaller but great pools.  It is unlikely any cloud hashing goes to like ckpool for example.  You need hosting if you want to point it where you want.

[Newcoins2020]

With 21 cent per KW it makes not sense to start mining.

Maybe you can earn a profit till june, but after the halving there is no way you would make profits.
Sure the price could increase, but that is no certainty at all.

[jt byte]

Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?

When it comes to bitcoin mining, take notice of the following factors:

- Price per kW (everything under 10 cent is ok)
- Price of equipment (the miners + PSU)
- The difficulty (these last weeks the difficulty went sky-high)
https://bitcoinwisdom.com/bitcoin/difficulty

Since i don't know which equipment you are considering you should check this link and calculate your potential ROI time: http://www.coinwarz.com/calculators/bitcoin-mining-calculator

If you need more information, let me know.

[helloeverybody]

Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?

When it comes to bitcoin mining, take notice of the following factors:

- Price per kW (everything under 10 cent is ok)
- Price of equipment (the miners + PSU)
- The difficulty (these last weeks the difficulty went sky-high)
https://bitcoinwisdom.com/bitcoin/difficulty

Since i don't know which equipment you are considering you should check this link and calculate your potential ROI time: http://www.coinwarz.com/calculators/bitcoin-mining-calculator

If you need more information, let me know.

I was going to go for the s7, i know its a few quid but its the best one out their as far as i can tell. Only problem is even if the price went up for bitcoin i would still be mining at a loss, And once the halfing happens i would be making even less. Its a no win for me im afraid.

[wikenpp]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

[helloeverybody]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i have been wrestling with the idea but it means dropping over 1k and with the way the market is at the moment im not sure if i want to buy any , If it crashes down a bit i will probably buy a bunch but if not and it goes up then i will probably just miss out

[Amph]

use the calculator, the calculator say me that you can have profit even at 0.21 cent, but you need to do some trading with your hash at some point, because of the diff, roi will be long

at 0.21 consumption is $189 and earning is still $330, so $140 of pure profit each month, with a single s7, 10 months to roi if diff remain unchanged...

[MaritiJames3]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i wouldn't do it too. I had some S3 miners > no profit but ROI by selling them
Then i bought S5 miners > no profit (clearly bitmain overpriced them)
The S7 i skipped knowing there would be no profit too.

[ivanst776]

Your electricity price seems that is very high, maybe because it is the winter season? for the moment i don't think it worth mining even with s7.

That's just what electricity costs here year round.  I'd like to mine but think I'd be as well just sinking that cash straight into coin.

If it is so then i would not suggest you to start mining as there will be no or a litltle profit.
If you hear me then a better idea is to invest in bitcoin, leave/hold them for a while and then sell.

[newcoins1978]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i wouldn't do it too. I had some S3 miners > no profit but ROI by selling them
Then i bought S5 miners > no profit (clearly bitmain overpriced them)
The S7 i skipped knowing there would be no profit too.

Bitmain but also some other pools have a reputation too screw their customers. So far the only legit one i found was f2pool.

@OP
21 cent per KW is a lots of money compared what it will bring you.
If you use the calculator you will see your ROI (remember you have to buy the PSU too), will be too long for this investment to be worth while.

My advice is to buy some cloud hashing indeed.

[notlist3d]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i wouldn't do it too. I had some S3 miners > no profit but ROI by selling them
Then i bought S5 miners > no profit (clearly bitmain overpriced them)
The S7 i skipped knowing there would be no profit too.

Bitmain but also some other pools have a reputation too screw their customers. So far the only legit one i found was f2pool.

@OP
21 cent per KW is a lots of money compared what it will bring you.
If you use the calculator you will see your ROI (remember you have to buy the PSU too), will be too long for this investment to be worth while.

My advice is to buy some cloud hashing indeed.

What is wrong with antpool? Biggest thing I can think of is amount of hash there a lot don't like that.  But lowest PPS at 2.5 but it does not merge mine, and also does not share transaction fee's.  So with all that it is close to F2P likely.

But what is your specific problem with them?   And 21 cents is still pretty crazy I would host and you save 1/2 power which is huge overtime.  I just cant wrap mind around still mining at 21 cents.

[MaritiJames3]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i wouldn't do it too. I had some S3 miners > no profit but ROI by selling them
Then i bought S5 miners > no profit (clearly bitmain overpriced them)
The S7 i skipped knowing there would be no profit too.

Bitmain but also some other pools have a reputation too screw their customers. So far the only legit one i found was f2pool.

@OP
21 cent per KW is a lots of money compared what it will bring you.
If you use the calculator you will see your ROI (remember you have to buy the PSU too), will be too long for this investment to be worth while.

My advice is to buy some cloud hashing indeed.

Cloud mining is very risky these days.
First you got the scam companies
Second you got the companies that are creative with payouts (hiding blocks etc.).
Just google Hashnest hiding blocks.

[coinhelper]

according to a quick calculation I did.
It suggests that you would pay 18144euro for power of an antminer s7!

Not sure that my cacluations were correct so it may be out by a factor of 21, 24, 30 or 100 (due to numbers entered into an equation!)

Possibly not too out though.

[coinhelper]

With this price, you would probably be better out buying bitcoin directly and wait for the price to rise.
Many people will say try cloud mining, but from experience i can say, it's not profitable any more.

Yeah i wouldn't do it too. I had some S3 miners > no profit but ROI by selling them
Then i bought S5 miners > no profit (clearly bitmain overpriced them)
The S7 i skipped knowing there would be no profit too.

Bitmain but also some other pools have a reputation too screw their customers. So far the only legit one i found was f2pool.

@OP
21 cent per KW is a lots of money compared what it will bring you.
If you use the calculator you will see your ROI (remember you have to buy the PSU too), will be too long for this investment to be worth while.

My advice is to buy some cloud hashing indeed.

Cloud mining is very risky these days.
First you got the scam companies
Second you got the companies that are creative with payouts (hiding blocks etc.).
Just google Hashnest hiding blocks.

Who cares if Hashnest are hiding blocks?
Their mining systems are still profitable!

However, even though the price of the Bitcoin has doubled, for some unknown reason, the antminer s3 GHS are at a 93% maintenance fee! Before the price increase they were at 80%? Very Confusing!

OF course hashnest hide some of the blocks, anpool finds a block every few hours, whereas revenue from hashnes comres about every 8 hours. But, they may just be coupling payments together!

[crazyearner]

Same situation as where I am high energy cost. I would just stick to buying Bitcoin and waiting for the price to go up sell and repeat than to buy any mining equipment at them costs.