21 cents per kw, Any way to mine?

[sishendaoye]

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.

Yeah if you live in a western country and/or a country where you pay over 15 cents per KW, you probably better out buying bitcoins or getting into cloud mining.
Hardware mining is too expensive.

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[notlist3d]

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.

Yeah if you live in a western country and/or a country where you pay over 15 cents per KW, you probably better out buying bitcoins or getting into cloud mining.
Hardware mining is too expensive.

Or look at hosting providers.  There are some out there you can host for 10 cent's or less.  Depends on which one you go to.

But I would not pay 15 or 20 cent's to mine in current situation.  Difficulty is just moving up fast where electricity price will matter even more I think.

[crazyivan]

You can mine PoS coins, all you need is a laptop online 24/7 and in most cases not even that. Your electricity costs re gonna be minimal. I like DMD Diamond and Flycoin, for example. Proof of stake is the future of mining. Even Etherum ll switch to proof of stake by the end of this year.

[Ejanend]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

[Amph]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

the point is that because of the certainty that the block reward will be halved, you have also somehow, the certainty the that price will increase

otherwise it's like saying that bitcoin is doomed to fail at some point

[notlist3d]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

the point is that because of the certainty that the block reward will be halved, you have also somehow, the certainty the that price will increase

otherwise it's like saying that bitcoin is doomed to fail at some point

The only thing I am worried is I think some of the huge operations likely if cut in 1/2 still could operate in profit (like Bitfury if they have the gear we suspect).   So there are likely some big guys with electricity so low they can keep going where normal electricity people will be left behind.

We have a while that I hope to see bitcoin slowly build up value.   But if it does not I fear big players still can mine and little guys will be stopped.

[newcoins1978]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

For this it is a big risk to start mining now.
Sure you can profit easily for 6 months.

But.. then what?

[notlist3d]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

For this it is a big risk to start mining now.
Sure you can profit easily for 6 months.

But.. then what?

6 months in mining is a HUGE amount of time.  There will be a next gen likely in that amount of time.  I mean everything changes in that amount.  I likely will sell some miners in next 6 month's of old generation (keeping S7/Avalon 6). But sell them to very low electricity or free electricity users. 

Also you act like 1 time profit is not good.  I would say take 1 time profit and then look at doing it or look other things  next.  You don't pass if your for sure you will profit.  But mining has not been for sure for a long time, it's just very individual.

[Amph]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

the point is that because of the certainty that the block reward will be halved, you have also somehow, the certainty the that price will increase

otherwise it's like saying that bitcoin is doomed to fail at some point

The only thing I am worried is I think some of the huge operations likely if cut in 1/2 still could operate in profit (like Bitfury if they have the gear we suspect).   So there are likely some big guys with electricity so low they can keep going where normal electricity people will be left behind.

We have a while that I hope to see bitcoin slowly build up value.   But if it does not I fear big players still can mine and little guys will be stopped.

ah eyah those with free electricity, might mine forever even if bitcoin is at zero

but people shoudl remember that those user are the minority, i would not believe ever that there are even 100 peta out there of "free electricity"

the whole network will not be able to survive only because there are a bunch of due with free electricity

[Xialla]

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

this. Is cool to see somebody not totally blinded..

[Qunenin]

You can mine PoS coins, all you need is a laptop online 24/7 and in most cases not even that. Your electricity costs re gonna be minimal. I like DMD Diamond and Flycoin, for example. Proof of stake is the future of mining. Even Etherum ll switch to proof of stake by the end of this year.

The problem with those PoS coins is that their price reduce in long term in general. There is no big user community.

[bitlancr]

You can mine PoS coins, all you need is a laptop online 24/7 and in most cases not even that. Your electricity costs re gonna be minimal. I like DMD Diamond and Flycoin, for example. Proof of stake is the future of mining. Even Etherum ll switch to proof of stake by the end of this year.

The problem with those PoS coins is that their price reduce in long term in general. There is no big user community.

Yeah and PoS mining is not like real mining.
I think OP wants to experience of asic mining bitcoin, which is the real thing.

Compared to PoW, PoS is for children.

[Qunenin]

You can mine PoS coins, all you need is a laptop online 24/7 and in most cases not even that. Your electricity costs re gonna be minimal. I like DMD Diamond and Flycoin, for example. Proof of stake is the future of mining. Even Etherum ll switch to proof of stake by the end of this year.

The problem with those PoS coins is that their price reduce in long term in general. There is no big user community.

Yeah and PoS mining is not like real mining.
I think OP wants to experience of asic mining bitcoin, which is the real thing.

Compared to PoW, PoS is for children.

The cost of PoW gives value to PoW coins. It forms a certain basis for the price for mature coins. The cost of big farms is about $200 at the moment.

[mirakal]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

For this it is a big risk to start mining now.
Sure you can profit easily for 6 months.

But.. then what?

The bitcoin price might rise in long term. That is caused by adoption of the bitcoin as a payment method. It is valuable investment as well.

[QuintLeo]

If your electricity is $0.21/kWh, it is better not to mine if you do not think mining is your hobby. There are mining farms in China, paying $0.04/kWh.

 More like $0.03 from comments I've seen, and at least one small area in the USA that can match that (for now).


 I am anticipating the next generation gear (14/16nm full custom) will start arriving before the halfing.
 BitFury is talking April, but I suspect Innosilicon might beat them to the punch.
 BW.com missed the boat with their B-Eleven NON-full-custom 14nm design, unless it shows up before the end of the month and significantly beats the S7 on price.

[notlist3d]

dont forget that in 2016 btc income from mining will be half

but the value will be also very high, the current value already is about 100% more than what it was, so easily at this point will not count anything, incomparison when we were at 230

The price of bitcoin is not certain to rise. That is just a speculation. But the blockreward is going to halve, that is certain.

For this it is a big risk to start mining now.
Sure you can profit easily for 6 months.

But.. then what?

The bitcoin price might rise in long term. That is caused by adoption of the bitcoin as a payment method. It is valuable investment as well.

I think if you believe in bitcoin you believe it will rise long term.   Mining is no guaranteed profit, you have to enjoy it to do it.  Also you are speculating you will make a ROI. 

This thread thought can pretty much be done long and short term.  21 cent's is just to much to mine on.  As long as you can get a data center for half of  that, it's a far better option.

[Bitcoinbro]

If your electricity is $0.21/kWh, it is better not to mine if you do not think mining is your hobby. There are mining farms in China, paying $0.04/kWh.

 More like $0.03 from comments I've seen, and at least one small area in the USA that can match that (for now).


 I am anticipating the next generation gear (14/16nm full custom) will start arriving before the halfing.
 BitFury is talking April, but I suspect Innosilicon might beat them to the punch.
 BW.com missed the boat with their B-Eleven NON-full-custom 14nm design, unless it shows up before the end of the month and significantly beats the S7 on price.

I mine at 9 cent and it's possible to make profit. But 21 cent makes no sense.

It would better to give your money to charity straight ahead.

[Ejanend]

If your electricity is $0.21/kWh, it is better not to mine if you do not think mining is your hobby. There are mining farms in China, paying $0.04/kWh.

 More like $0.03 from comments I've seen, and at least one small area in the USA that can match that (for now).


 I am anticipating the next generation gear (14/16nm full custom) will start arriving before the halfing.
 BitFury is talking April, but I suspect Innosilicon might beat them to the punch.
 BW.com missed the boat with their B-Eleven NON-full-custom 14nm design, unless it shows up before the end of the month and significantly beats the S7 on price.

The labor cost in the US is too high. In order to run a farm, you also need to construct it and maintain it. The running cost is higher.

[notlist3d]

If your electricity is $0.21/kWh, it is better not to mine if you do not think mining is your hobby. There are mining farms in China, paying $0.04/kWh.

 More like $0.03 from comments I've seen, and at least one small area in the USA that can match that (for now).


 I am anticipating the next generation gear (14/16nm full custom) will start arriving before the halfing.
 BitFury is talking April, but I suspect Innosilicon might beat them to the punch.
 BW.com missed the boat with their B-Eleven NON-full-custom 14nm design, unless it shows up before the end of the month and significantly beats the S7 on price.

The labor cost in the US is too high. In order to run a farm, you also need to construct it and maintain it. The running cost is higher.

Setup is going to be most expensive.  You could have far less people running a mining facility then setup.   A lot can also be automated.   So I think as long as you get cheap electricity it can still be done in US.  But it does take cheap electricity especially at the size your talking about.

There are some hosting centers in US, so it can be done.

[QuintLeo]

Then i bought S5 miners > no profit (clearly bitmain overpriced them)

 Depends on WHEN you bought them - if you bought them early in 2015, you should have RoIed them fairly easily unless you're paying more than 10c/KWH.

 If you waited for June/July timeframe, you would have needed VERY VERY cheap electric to have a good chance at RoI with them (unless you did like I'm doing and sold them for enough to achieve RoI).


 
 There isn't a lot of labor cost to running a large farm - MegaBigPower has mentioned having a staff of 12 (IIRC) for their BIG Washington farm. That's not much staff needed for one of the bigger farms in the world.