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Author Topic: Should I Start Mining Bitcoins  (Read 725 times)
cyclingmikee
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December 16, 2015, 12:57:58 AM
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So I Have a source who Is willing to sell me bitcoin miners at $200 per 1 TH/s. I will buy about $3000 worth of miners. That is about 15 TH/s. Then I will rent a building for $660 per month witch has free electricity. Also if you do think I should mine Bitcoins please recommend a pool because please say i should do pools not solo mine. Should I spend $3000 plus sign the contract for the building or is this going to be Just a waste of time and money? Thanks, Michael BTC
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December 16, 2015, 12:59:19 AM
 #2

At 200$ per miner, PSU included. I would do it for sure.

Heres a income calculator ; https://alloscomp.com/bitcoin/calculator

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December 16, 2015, 12:59:56 AM
 #3

30 TH =

This Difficulty
Coins   Dollars
per Day   0.19072998 BTC   $89.17
per Week   1.33510986 BTC   $624.20
per Month   5.80534375 BTC   $2714.17
this diff (est)   0.47996885 BTC   $224.40
Next Difficulty [estimated]
Coins   Dollars
per Day   0.15090724 BTC   $70.55
per Week   1.05635066 BTC   $493.88
per Month   4.59323901 BTC   $2147.48

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December 16, 2015, 01:07:11 AM
 #4

WOW! 200$/ths? free electricity? damn why stop at 3000$!!!! theres really no downside here!

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December 16, 2015, 01:34:02 AM
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WOW! 200$/ths? free electricity? damn why stop at 3000$!!!! theres really no downside here!

Downside is it could be a bunch of A1 miners.  Which are not really that efficient of miners.

OP ask what miner it is your getting.  But I'm betting a bunch of A1's.  Which if free ore cheap electricity is fine.  Just not good longterm for normal electricity.
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December 16, 2015, 01:51:26 AM
 #6

It depends on your interest in BTC.  Ask yourself, are you doing this for purely a profit, or do you want to contribute to expanding the currency and embracing it and helping it by mining?  I'd start there if I were you.
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December 16, 2015, 02:00:34 AM
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So I Have a source who Is willing to sell me bitcoin miners at $200 per 1 TH/s. I will buy about $3000 worth of miners. That is about 15 TH/s. Then I will rent a building for $660 per month witch has free electricity. Also if you do think I should mine Bitcoins please recommend a pool because please say i should do pools not solo mine. Should I spend $3000 plus sign the contract for the building or is this going to be Just a waste of time and money? Thanks, Michael BTC
If electricity is free then Mining would be really profitable.
i had previously used 2 TH/s power , had much problems with wear and tear of equipment.

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December 16, 2015, 02:08:23 AM
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I would check VERY carefully the limitations on your "free" (i.e. already paid for) electricity. Also what kind of space are you getting? You might well not be able to support 15TH of mining hardware in terms of electricity, heating/cooling, or noise. If you are getting a 100 square feet of office space next to other folks, you probably won't have the freedom to run loud, hot mining gear, that needs more than would be expected by a non-mining operation (i.e. a lawyer, or accountant).

Also add in your cost of Internet access. You don't need high bandwidth, just reliable internet.

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December 16, 2015, 02:18:07 AM
 #9

As far as a pool goes and given the mining difficulty I would go with a pool that has low fees and that finds blocks consistently, so that would mean going with a pool like antpool.

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December 16, 2015, 02:20:29 AM
 #10

don't waste your time investing in Mining.

You are too late to the GoldRush party. You should better sell the shovels.
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December 16, 2015, 07:55:27 AM
 #11

I agree with the majority.  I would be game for that deal.  Just make sure you are good to go on the place and the electricity.    15 th/s is going to be noisy.    I still believe the value of bitcoin will continue to rise.

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December 17, 2015, 10:53:29 AM
 #12

WOW! 200$/ths? free electricity? damn why stop at 3000$!!!! theres really no downside here!

Downside is it could be a bunch of A1 miners.  Which are not really that efficient of miners.

OP ask what miner it is your getting.  But I'm betting a bunch of A1's.  Which if free ore cheap electricity is fine.  Just not good longterm for normal electricity.

is electricity is free, so efficiency will not matter

i would do it without thinking, basically free money, but i may find a bit fishy to be honest, i would check everything twice prior buying
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December 17, 2015, 11:56:46 AM
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WOW! 200$/ths? free electricity? damn why stop at 3000$!!!! theres really no downside here!

Downside is it could be a bunch of A1 miners.  Which are not really that efficient of miners.

OP ask what miner it is your getting.  But I'm betting a bunch of A1's.  Which if free ore cheap electricity is fine.  Just not good longterm for normal electricity.

is electricity is free, so efficiency will not matter

i would do it without thinking, basically free money, but i may find a bit fishy to be honest, i would check everything twice prior buying
I find this deal fishy too. I would suggest to use an Escrow when buying these $200/TH miners.
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December 17, 2015, 06:50:46 PM
 #14

WOW! 200$/ths? free electricity? damn why stop at 3000$!!!! theres really no downside here!

Downside is it could be a bunch of A1 miners.  Which are not really that efficient of miners.

OP ask what miner it is your getting.  But I'm betting a bunch of A1's.  Which if free ore cheap electricity is fine.  Just not good longterm for normal electricity.

is electricity is free, so efficiency will not matter

i would do it without thinking, basically free money, but i may find a bit fishy to be honest, i would check everything twice prior buying
I find this deal fishy too. I would suggest to use an Escrow when buying these $200/TH miners.

Free electricity is tricky as if included in rent chance are they do not mean for miners to use it.   And most places with it are limited on amount of electricity they have.

But OP said:
Then I will rent a building for $660 per month witch has free electricity.

Chances are the owner of building has a provision and if your mining 1/2 or all of rent in electricity.... i bet you get kicked out the following month.   It would have to be a big corporation to take a hit like that and hold up on free electricity.  Most landlords would not take a hit like that on electricity.
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