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Author Topic: If you get free electricity and can afford a miner...  (Read 1373 times)
jmintuck02
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December 30, 2015, 10:17:08 AM
 #1

I was very lucky. I have free electricity due to having disability supports in place so I can live much like society, only with lower income ATM.

Luckily, out of that, I get free electricity and can run an Antminer S3, so far. I managed, by the skin of my teeth, so to speak, to afford the damn

Antminer S3.

If you are lucky to raise 250 USD or your fiat to get at least an Antminer S3, try and get one and mine ALTCOINS and learn about trading, if you

didn't already. Hey, free electricity in a given case, be it college, paid for by gov agency or whatever, take the opportunity. I had to scrape up the 260

for the miner.

Check the algorithm of your miner; mine is SHA-256, and find a good coin with a passable value per coin. Example; 1.00000000 someoddcoin is

BTC 0.00000250 at least, or if you can, use the smaller values to mine and save for a time. Cash it in when you see a spike of the coin in YoBit, or

other like currency exchanges. You want to see the trade price bar up and NOT down. When it rises, then sell if it reaches your satisfaction.

Save some to get Antminer S4 or higher if you wish with trading and free electricity.


Don't use Cryptsy for now, as there has been some crap happening and everything needs sorting.

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December 30, 2015, 10:25:18 AM
 #2

I was very lucky. I have free electricity due to having disability supports in place so I can live much like society, only with lower income ATM.

Luckily, out of that, I get free electricity and can run an Antminer S3, so far. I managed, by the skin of my teeth, so to speak, to afford the damn

Antminer S3.

If you are lucky to raise 250 USD or your fiat to get at least an Antminer S3, try and get one and mine ALTCOINS and learn about trading, if you

didn't already. Hey, free electricity in a given case, be it college, paid for by gov agency or whatever, take the opportunity. I had to scrape up the 260

for the miner.

Check the algorithm of your miner; mine is SHA-256, and find a good coin with a passable value per coin. Example; 1.00000000 someoddcoin is

BTC 0.00000250 at least, or if you can, use the smaller values to mine and save for a time. Cash it in when you see a spike of the coin in YoBit, or

other like currency exchanges. You want to see the trade price bar up and NOT down. When it rises, then sell if it reaches your satisfaction.

Save some to get Antminer S4 or higher if you wish with trading and free electricity.


Don't use Cryptsy for now, as there has been some crap happening and everything needs sorting.

*gasp* Did you pay 250USD for an Antminer S3? You can get them for 100USD. 250USD is more in the realm of an Antminer S5.

Also i would advise against gambling, stick to a good Bitcoin pool and put your time into something more constructive.

Ethereum Mining Calculator - Simple, elegant, mobile-friendly Ethereum Mining Profitability Calculator
gpuShack mining hardware - Your one stop shop for all GPU mining related hardware! Use Coupon Code VOFF5 to save on any order.
ethOS - #ethosdistro on freenode - linux distro that mines Ethereum out-of-the-box.
Rufsilf
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December 30, 2015, 10:34:03 AM
 #3

S5 is more efficient than S3. If you have to pay for low cost electricity, you can still use S5.

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jmintuck02
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December 30, 2015, 10:40:31 AM
 #4

Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one.  I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

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December 30, 2015, 10:51:51 AM
 #5

Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one.  I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

Well, still ouch. Can get a server PSU for 20-30$. Or a good ATX PSU for 60$. I'm not sure why you paid 250$ thats enough for 2 S3+PSU.

Trading is gambling, unless you're margin trading.

Ethereum Mining Calculator - Simple, elegant, mobile-friendly Ethereum Mining Profitability Calculator
gpuShack mining hardware - Your one stop shop for all GPU mining related hardware! Use Coupon Code VOFF5 to save on any order.
ethOS - #ethosdistro on freenode - linux distro that mines Ethereum out-of-the-box.
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December 30, 2015, 03:31:34 PM
 #6

you have free electricity, but i doubt it's also unlimited, so it depend on how many wattage free you have

i would go with s7 in any case, because you can have more hash with it, since it's more efficient
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December 31, 2015, 03:40:31 AM
 #7

Will be upgrading to higher miner after. I meant to say I was paying 250 for miner and power supply in one.  I don't gamble, also, I should also say.

Saving a lot of what I make to buy an Antminer S4 or S7 when it comes down in price, or a no-scam deal is found.

These are kinda big if you are limited in room on your house.  They will use pretty much your whole standard 120 breaker I'm guessing.  You won't have a ton of electricity on that line to power other things.

But when mentioning miners like those be careful of noise and power.  It's a lot more on both then a S3.  And really S4 and S7 are completely different markets.
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December 31, 2015, 03:52:52 AM
 #8

I have an office space I pay $315 for 850 square feet every month and it includes free electric I think this might be a great way for me to save on paying my monthly cost with an antminer s5

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December 31, 2015, 05:32:52 AM
 #9

I have an office space I pay $315 for 850 square feet every month and it includes free electric I think this might be a great way for me to save on paying my monthly cost with an antminer s5

If you can get it for 200$USD to your door, then that would not be too bad. You could get a 650~850 EVGA PSU that would last you several miners, too. A couples of S3 for 60$ Each to your door could also work, then a 140$ EVGA G2 1300 or something to power them with some breathing room.

Ethereum Mining Calculator - Simple, elegant, mobile-friendly Ethereum Mining Profitability Calculator
gpuShack mining hardware - Your one stop shop for all GPU mining related hardware! Use Coupon Code VOFF5 to save on any order.
ethOS - #ethosdistro on freenode - linux distro that mines Ethereum out-of-the-box.
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December 31, 2015, 11:03:39 AM
 #10

If you know about computers and treat it as hobby, then it is OK to mine. Otherwise, it is not worth your time.
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December 31, 2015, 11:19:12 AM
 #11

All good as long as whoever does pay the electricity bill doesn't get suspicious of why your electricity bill is so high all the time. Id sure be wondering how anyone's managing to use so much, Id imagine the first thought would be that you have the heating on all day everyday or your growing some sort of fancy plants =p . If its is free though then i would do the same,

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December 31, 2015, 11:40:12 AM
 #12

Well you shouldn't mine alternative coins at all Grin it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin It's a much better option in my opinion
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January 23, 2016, 01:02:04 PM
 #13

Well you shouldn't mine alternative coins at all Grin it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin It's a much better option in my opinion

If you mine the Ethereum, it might be worth it. The price has go up a lot recently. Some new application will be launched.

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January 23, 2016, 04:25:31 PM
 #14

Well you shouldn't mine alternative coins at all Grin it's not really worth. Many of the currencies are all about pump and dump so you can lose everything you mined really fast! I suggest you should join a BTC mining pool Grin It's a much better option in my opinion

If you mine the Ethereum, it might be worth it. The price has go up a lot recently. Some new application will be launched.

if the price go up so the diff, the ratio between those two will remain the same, so ethereum is not more profitable right now

last time i've checked you you can do $60 a month with a single 290x, which is mining at loss basically unless you have cheap energy, with nvidia or amd fury it should be better, they are more efficient

see http://badmofo.github.io/ethereum-mining-calculator/
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January 23, 2016, 04:32:17 PM
 #15

If you get free electricity it will be profitable using any miner and if you can afford s7 you can gain more bitcoins fast.
I think mining other altcoin is not good because some of them are scam in few days or months. So its better to mine bitcoin than other altcoin...


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January 23, 2016, 05:37:36 PM
 #16

If i had free electricity id be buying a shiney new miner soon as possible. With free electricity you should cover minning rig cost pretty quickly and then start making a nice profit in no time. Win win id say. I dont know how long you could get away with milking it though.

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January 23, 2016, 06:33:29 PM
 #17

i still wouldnt mine any bitcoins if i would get free electricity and afford a miner, it would be just a waste of time as it would take a lot of time to make the return of investment, not even talking about making profit
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January 23, 2016, 07:49:34 PM
 #18

I was very lucky. I have free electricity due to having disability supports in place so I can live much like society, only with lower income ATM.

Luckily, out of that, I get free electricity and can run an Antminer S3, so far. I managed, by the skin of my teeth, so to speak, to afford the damn

Antminer S3.

If you are lucky to raise 250 USD or your fiat to get at least an Antminer S3, try and get one and mine ALTCOINS and learn about trading, if you

didn't already. Hey, free electricity in a given case, be it college, paid for by gov agency or whatever, take the opportunity. I had to scrape up the 260

for the miner.

Check the algorithm of your miner; mine is SHA-256, and find a good coin with a passable value per coin. Example; 1.00000000 someoddcoin is

BTC 0.00000250 at least, or if you can, use the smaller values to mine and save for a time. Cash it in when you see a spike of the coin in YoBit, or

other like currency exchanges. You want to see the trade price bar up and NOT down. When it rises, then sell if it reaches your satisfaction.

Save some to get Antminer S4 or higher if you wish with trading and free electricity.


Don't use Cryptsy for now, as there has been some crap happening and everything needs sorting.

first of all mining itself is now too hard and in that mining alt coins is very risky as their are so many coins which are now valueless so it is better to do trading in bitcoins and earn little but promptly.
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February 05, 2016, 11:32:29 AM
 #19

i still wouldnt mine any bitcoins if i would get free electricity and afford a miner, it would be just a waste of time as it would take a lot of time to make the return of investment, not even talking about making profit

If you have free electricity and can afford the miner, then it is OK to mine. But the income might not worth your effort.
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February 05, 2016, 05:01:18 PM
 #20

I like something, anything to get me started. I mine them and look for new rising coins as long as difficulty is not yet so great. Sometimes I hit a coin that is creeping

up in selling price for btc and start mining it. Sometime, I hope to get AT LEAST a 1Ths miner, unless I get luckier and buy something higher than 1 Ths.

In my experience I am just a bagholder in a couple shitcoins as of the moment, NOTHING to do with mining, but because I tried to invest in t he two. But, mining

altcoins, I have had much better luck, most of the time.

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