Help for Mining

[AseyK2]

Hello ! I'm not good at english...
I have 1700$ ~ 2000$ budget to buy miners and start mining BTC.
But I don't know where buy miners.
How long before profit or just no profit to start ?

Thanks for help !

[1713972798]

1713972798

[1713972798]

1713972798

[VirosaGITS]

Hello ! I'm not good at english...
I have 1700$ ~ 2000$ budget to buy miners and start mining BTC.
But I don't know where buy miners.
How long before profit or just no profit to start ?

Thanks for help !

Profits depend on your expenses to run the hardware versus the return. Then how long it take to earn back the money put into buying a miner is simply cost of acquisition divided by profit per month average.

So the first variable is, what is your electricity rate cost per kWh in USD?

[AseyK2]

0.16$ per kWh (in France)

[Sharma]

at 0.16$/KWu, it'll be very difficult to make a profit i'm afraid...

[AseyK2]

How much I will generate every 1 week / mounth / year ? (approximately)

[andolini82]

you can use this calculator to answer this question:

http://www.coinwarz.com/calculators/bitcoin-mining-calculator

My guess: the chance that you'll ROI will be very slim 

[AseyK2]

With AntMiner S7 4.73 Th/s

1 years = $1,339.06
1 days = $3.67

No profit in 1 years...

[Shibashi Dogemoto]

I took the specs from
https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0

pasted them here
http://www.coinwarz.com

And found out this:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=1210&pc=0.16&pf=1&d=103880340815.45600000&r=25.00000000&er=434.90170000&hc=1823

Those are all links that could have easily been found on this thread and on google...

Apparently, you can recuperate your costs in just under 1 year given:
1) you are able to keep your miner running 24/7
2) the difficulty doesn't rise
3) the price doesn't fall
4) you have average luck

Actually, the price should double when the block halving occurs in order to use this calculation...

[AseyK2]

Ok no problem for profit. Where can I buy AntMiner S7 in Europe ? And Alimentation APW3-12-1600-B2 I need it ?

[Shibashi Dogemoto]

Ok no problem for profit. Where can I buy AntMiner S7 in Europe ? And Alimentation APW3-12-1600-B2 I need it ?

https://bitmaintech.com/product.htm

Or from one of the dozens of vendors you'll find on this forum or on the web

[notlist3d]

Ok no problem for profit. Where can I buy AntMiner S7 in Europe ? And Alimentation APW3-12-1600-B2 I need it ?

https://bitmaintech.com/product.htm

Or from one of the dozens of vendors you'll find on this forum or on the web

Most of time it's cheaper to get direct then from resellers on S7's.   They just have dropped so fast in price re-sellers normally are high on selling.

With Europe guessing not a problem but make sure you have a 220/240.   Only thing to be warned the PSU and the S7 are not quiet at all.  So keep that in mind when you are ordering.

[AseyK2]

Thank you all ! 

[VirosaGITS]

Thank you all ! 

Hold on, we told you, you can't profit at your electricity rate, don't ignore that fact. You pay twice what it would cost to have it hosted. You just plain can't do this. It would cost 162USD per month to keep it running.

[notlist3d]

Thank you all ! 

Hold on, we told you, you can't profit at your electricity rate, don't ignore that fact. You pay twice what it would cost to have it hosted. You just plain can't do this. It would cost 162USD per month to keep it running.

Also I am guessing France has a decent VAT being in EU.  So you spend that on top + what all Virosa mentioned.   So your fighting a uphill battle.

If you go hosting center you would save money of electricity, and depending on where you pick could quite possibly save on vat.  And at the end you still should be able to sell but the hosting company you will likely have to pay something to mail it out.

[VirosaGITS]

Thank you all !  

Hold on, we told you, you can't profit at your electricity rate, don't ignore that fact. You pay twice what it would cost to have it hosted. You just plain can't do this. It would cost 162USD per month to keep it running.

Also I am guessing France has a decent VAT being in EU.  So you spend that on top + what all Virosa mentioned.   So your fighting a uphill battle.

If you go hosting center you would save money of electricity, and depending on where you pick could quite possibly save on vat.  And at the end you still should be able to sell but the hosting company you will likely have to pay something to mail it out.

Developing from this alternative. It might be a good idea to consider buying Avalon 6 from retail that are already in the US and have them hosted there for about half of what it would cost OP to run them.

This way, no VAT/duty/import fees.

Another alternative could be buying Antminer S7 on Hashnest. I am not sure how much they charge per kW/month of electricity but i'm certain its much cheaper than .16$/kWh. 0 tax, duty, VAT, etc.