Back into Bitcoin! Access to FREE electric. How should i continue!?

[drazah]

Hello bitcointalk forum!

I am new here, not "really" new to bitcoin. I have been following for a few years now but not so much mining.

My first rig was the BFL Jalapeno (~5GHs one) and after that rig paid for itself quick and things went down from there is when i stopped.

Anyways, I have access to free electric and would like to start mining again! I honestly should of posted here first asking for advice but i got excited and went ahead and was able to get 2 Antminer S4s for really cheap. I did do a little research and hope this is right but for what i could find used and for what i was willing to spend right away (under $400) this seemed to be my best bet.

Im not looking to turn this into a huge mine or anything crazy, just something I can add to my income to basically cover my lunch expenses

Just looking for any advice or information on whats new with bitcoin, From the bitcoin calculators i used with everything at current market price with no fee from electricty looks promising, what do you think? Also im not sure what pools to mine or what all these payout types even mean :|

THANKS FOR YOUR TIME ON READING THIS!

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[QuintLeo]

If you're limited on investment money, now would be a good time to snap up some used S7s.

 If you have good money to put into it and are more "how much power I have" limited, go S9 in a couple months when the price starts dropping due to competiton.

[RocketSingh]

Get some 16nm and start mining. Simple!

[drazah]

If you're limited on investment money, now would be a good time to snap up some used S7s.

 If you have good money to put into it and are more "how much power I have" limited, go S9 in a couple months when the price starts dropping due to competiton.

I was looking at them and almost got one to start but i ended up finding a decent deal on two S4s for a little over $300, they seemed to calculate the best... given you take the power cost out of the equation... They are extremely cheap for a 2THs rig, Given they draw a ton of power but luckily in my case I have access to free electricity and a cool environment for me to place them in. Plus with the "Halvening" happening soon I honestly did not want to invest too much ($500+ would be that "too much" range for me) just because i dont know what is going to happen. But i know i wanted to start mining someway because of the offer of free electric. If it works out, I will most definitely upgrade and add more.

But for just over $300 for two S4 (4THs), and no other expenses for anything else I'm hoping to see them paid off in a few months. Not that i really care if it fails because im doing this more for hobby and just so I can get back into the bitcoin community.

I have no limit of energy use, but I do have a limit on the amount of money I wanted to pay out of pocket to start. I'm more into buying used, older rigs now because they are much cheaper and some still have decent power.

[Neptunium]

With some good GPUs you can probably make some decent profit mining altcoins, especially if you have free electricity.

[notlist3d]

....

Anyways, I have access to free electric and would like to start mining again! I honestly should of posted here first asking for advice but i got excited and went ahead and was able to get 2 Antminer S4s for really cheap. I did do a little research and hope this is right but for what i could find used and for what i was willing to spend right away (under $400) this seemed to be my best bet.

....

S4's are getting dated at this point as far as efficiency.   How much free electricity do you have and is sound a issue?  Those two things are kinda important.

I personally would go S5 if you can find a deal, or wait till having and I think you will get some bargin S7's.  So honestly waiting till having might be a good idea to snag some S7's unless you find a deal on a older miner.

[Yakamoto]

Since you're able to avoid worrying about the electricity, find some used miners (or new ones if you really care), get a nice setup with a fair amount of miners, and start generating heat Bitcoin.

I wouldn't necessarily recommend putting in too much money early on, but as long as you think you can sell the miners for something similar to what you bought them for later on, you'll be making a fair amount without having to worry about losing much of your value at any point.

[drazah]

S4's are getting dated at this point as far as efficiency.   How much free electricity do you have and is sound a issue?  Those two things are kinda important.

I personally would go S5 if you can find a deal, or wait till having and I think you will get some bargin S7's.  So honestly waiting till having might be a good idea to snag some S7's unless you find a deal on a older miner.

Sound & Heat are no issue...and "how much" free electricity... I dont know honestly but these would be placed directly into an already fully functional server room with an AC Unit and proper ventilation (it stays ~65 degrees in their). Not a HUGE room, id honestly even call it "walk-in-closet" sized. I dont want to do anything crazy (yet) and honestly was looking at the S5 but then I realized I had to buy power supplies if i got them and didnt really want this to start off taking up some space and figured the S4s in a clean AIO unit would work better for me (right now). Plus the deal i got on 2 of them was good so i just went for it.

With some good GPUs you can probably make some decent profit mining altcoins, especially if you have free electricity.

I was also thinking about this, I have a 290X sitting in a box at home and was thinking about Etherium or some other altcoin but would have no idea where to start with those, atleast with bitcoins ive done before and have been following for years now. (kinda)

Since you're able to avoid worrying about the electricity, find some used miners (or new ones if you really care), get a nice setup with a fair amount of miners, and start generating heat Bitcoin.

I wouldn't necessarily recommend putting in too much money early on, but as long as you think you can sell the miners for something similar to what you bought them for later on, you'll be making a fair amount without having to worry about losing much of your value at any point.

Yes this is something i thought about a lot. I definitely want to start off small and just build from there. I am not too worried about re-sell value of my current rigs but if i go with something more expensive I would definitely have that weigh more as a consideration. Current plan is to go the cheap used route to get generating, and as i feel more comfortable go on from there.

[notlist3d]

S4's are getting dated at this point as far as efficiency.   How much free electricity do you have and is sound a issue?  Those two things are kinda important.

I personally would go S5 if you can find a deal, or wait till having and I think you will get some bargin S7's.  So honestly waiting till having might be a good idea to snag some S7's unless you find a deal on a older miner.

Sound & Heat are no issue...and "how much" free electricity... I dont know honestly but these would be placed directly into an already fully functional server room with an AC Unit and proper ventilation (it stays ~65 degrees in their). Not a HUGE room, id honestly even call it "walk-in-closet" sized. I dont want to do anything crazy (yet) and honestly was looking at the S5 but then I realized I had to buy power supplies if i got them and didnt really want this to start off taking up some space and figured the S4s in a clean AIO unit would work better for me (right now). Plus the deal i got on 2 of them was good so i just went for it.

...

There is a good amount of difference though on efficiency.   Buying a nice PSU that you can use multiple generations honestly is not a bad thing.   Do you know if you have 220/240?

If you do I honestly would wait till having, and get a S7 if I had free electricity.  I could be wrong if BTC continues to surge, but I think at having with S9 out S7 is going to drop in price a decent amount. And it is a HECK of a lot more efficient the S4.

S4 is not a bad machine I loved them at the time, but they  are getting dated at this point.

[drazah]

S4's are getting dated at this point as far as efficiency.   How much free electricity do you have and is sound a issue?  Those two things are kinda important.

I personally would go S5 if you can find a deal, or wait till having and I think you will get some bargin S7's.  So honestly waiting till having might be a good idea to snag some S7's unless you find a deal on a older miner.

Sound & Heat are no issue...and "how much" free electricity... I dont know honestly but these would be placed directly into an already fully functional server room with an AC Unit and proper ventilation (it stays ~65 degrees in their). Not a HUGE room, id honestly even call it "walk-in-closet" sized. I dont want to do anything crazy (yet) and honestly was looking at the S5 but then I realized I had to buy power supplies if i got them and didnt really want this to start off taking up some space and figured the S4s in a clean AIO unit would work better for me (right now). Plus the deal i got on 2 of them was good so i just went for it.

...

There is a good amount of difference though on efficiency.   Buying a nice PSU that you can use multiple generations honestly is not a bad thing.   Do you know if you have 220/240?

If you do I honestly would wait till having, and get a S7 if I had free electricity.  I could be wrong if BTC continues to surge, but I think at having with S9 out S7 is going to drop in price a decent amount. And it is a HECK of a lot more efficient the S4.

S4 is not a bad machine I loved them at the time, but they  are getting dated at this point.

Honestly not sure if its 120 or 240, how could i find out? And if everything goes as planned then i will be getting more rigs of more updated gear. And i agree with what your saying about the PSUs, i even wouldnt mind building a GPU rig also for Ether.

[notlist3d]

S4's are getting dated at this point as far as efficiency.   How much free electricity do you have and is sound a issue?  Those two things are kinda important.

I personally would go S5 if you can find a deal, or wait till having and I think you will get some bargin S7's.  So honestly waiting till having might be a good idea to snag some S7's unless you find a deal on a older miner.

Sound & Heat are no issue...and "how much" free electricity... I dont know honestly but these would be placed directly into an already fully functional server room with an AC Unit and proper ventilation (it stays ~65 degrees in their). Not a HUGE room, id honestly even call it "walk-in-closet" sized. I dont want to do anything crazy (yet) and honestly was looking at the S5 but then I realized I had to buy power supplies if i got them and didnt really want this to start off taking up some space and figured the S4s in a clean AIO unit would work better for me (right now). Plus the deal i got on 2 of them was good so i just went for it.

...

There is a good amount of difference though on efficiency.   Buying a nice PSU that you can use multiple generations honestly is not a bad thing.   Do you know if you have 220/240?

If you do I honestly would wait till having, and get a S7 if I had free electricity.  I could be wrong if BTC continues to surge, but I think at having with S9 out S7 is going to drop in price a decent amount. And it is a HECK of a lot more efficient the S4.

S4 is not a bad machine I loved them at the time, but they  are getting dated at this point.

Honestly not sure if its 120 or 240, how could i find out? And if everything goes as planned then i will be getting more rigs of more updated gear. And i agree with what your saying about the PSUs, i even wouldnt mind building a GPU rig also for Ether.

I'm going to guess do you live in US?  If so guessing most of your circuits are not (look at like stove or washer/dryer in many US homes to see 220/240).   It's something if you had it I think you would know.   

If you have a picture of fuse in breaker we might be able to say more (be careful if you take picture as it can be dangerous).

[drazah]

I'm going to guess do you live in US?  If so guessing most of your circuits are not (look at like stove or washer/dryer in many US homes to see 220/240).   It's something if you had it I think you would know.   

If you have a picture of fuse in breaker we might be able to say more (be careful if you take picture as it can be dangerous).

Yes, Living in US, but my rigs will not be placed in my apartment but rather at my workplace. I am a system admin for a school. The school does not have 1 big server room rather is has these smaller rooms/closets scattered throughout the school so im not entirely sure how I would find out what the schools is categorized under. My office is right next to the "main" server room and could probably snap some pics on monday (off for weekend).

[Slippin_Jimmy]

Should have gotten this new ANTMINER S7-LN with power supply - Shipping out from June 2nd.

https://www.bitmaintech.com/productDetail.htm?pid=00020160527114935137wr0xd6U006A9

Because that's 2.7TH with a PSU, brand new for less than $300 shipped straight from manufacturer.

[notlist3d]

I'm going to guess do you live in US?  If so guessing most of your circuits are not (look at like stove or washer/dryer in many US homes to see 220/240).   It's something if you had it I think you would know.   

If you have a picture of fuse in breaker we might be able to say more (be careful if you take picture as it can be dangerous).

Yes, Living in US, but my rigs will not be placed in my apartment but rather at my workplace. I am a system admin for a school. The school does not have 1 big server room rather is has these smaller rooms/closets scattered throughout the school so im not entirely sure how I would find out what the schools is categorized under. My office is right next to the "main" server room and could probably snap some pics on monday (off for weekend).

DO NOT risk your job to plug in gear.  If you have a good computer job at a school you will lose it for bringing in miners and using the schools electricity.   Read the things you signed but most/almost all are going to have a policy about unauthorized device.   I can't imagine risking a sys admin job at a school over a few miners.

Honestly look at ways to mine at your apartment, or hosting.  A few miners is not worth your job.

[drazah]

DO NOT risk your job to plug in gear.  If you have a good computer job at a school you will lose it for bringing in miners and using the schools electricity.   Read the things you signed but most/almost all are going to have a policy about unauthorized device.   I can't imagine risking a sys admin job at a school over a few miners.

Honestly look at ways to mine at your apartment, or hosting.  A few miners is not worth your job.

Agreed, I would never risk my job for a few miners. We actually have "work orders" for when we want to bring in "outside" equipment that has not been tagged by the district which we want to run off the network... and normally I am the one who approves these work orders. Mine has already been approved, and administration has never questioned a thing ive done. I'm sure it would raise question if I wanted to start a huge mining operation while stealing their energy but thats not my scope at the moment.

On another note, the school also runs a private folding farm for a tech teacher. He does not use it for teaching purposes and its pretty big.

[Newcoins2020]

DO NOT risk your job to plug in gear.  If you have a good computer job at a school you will lose it for bringing in miners and using the schools electricity.   Read the things you signed but most/almost all are going to have a policy about unauthorized device.   I can't imagine risking a sys admin job at a school over a few miners.

Honestly look at ways to mine at your apartment, or hosting.  A few miners is not worth your job.

Agreed, I would never risk my job for a few miners. We actually have "work orders" for when we want to bring in "outside" equipment that has not been tagged by the district which we want to run off the network... and normally I am the one who approves these work orders. Mine has already been approved, and administration has never questioned a thing ive done. I'm sure it would raise question if I wanted to start a huge mining operation while stealing their energy but thats not my scope at the moment.

On another note, the school also runs a private folding farm for a tech teacher. He does not use it for teaching purposes and its pretty big.

Apart from losing your job, it's called stealing because your school will have to pay for their bills rights. It's not an honest way to live nor to think. If you have to pay the normal price (we all do) then first investigate if you even will get ROI.

I honestly doubt that you will...

[drazah]

Apart from losing your job, it's called stealing because your school will have to pay for their bills rights. It's not an honest way to live nor to think. If you have to pay the normal price (we all do) then first investigate if you even will get ROI.

I honestly doubt that you will...

Not with the S4s but anything newer then yes. I thought i explained in my last post but ill do a tl;dr...

I have already been approved for these machines at their power usage to be used. I run the IT department (on site) and we already have a complete lab pulling way more useless power than i ever will from them. This is coming from a technical school who probably has a 50k+ electric bill a month. I won't lose my job unless i decide to buy about 50 more S4s without telling them or do something insane like that.

Commenting about living the honest way or thinking is all relative. I understand how one would see it that way, but i also understand my reasoning to be valid in that i see it as a perk of my job, an opportunity that is available right in front of me.

Not everyone pays the normal price, im sorry.

[philipma1957]

I have all the gear you need.

sp20's    =       2
s-5        =        1

s-7        =        2

avalon 6's =      3

I have 5x  2 gpu card eth rigs     plug n play in real  pc cases cases  send me a pm. These are fully operation pc's and mining rigs.



I am in NJ zip is 07731

it is in my self interest to sell to you.  but you should get 1 eth rig as a pc and learn to eth mine. 
I would help you set it up.

I could sell you a s-7 at a good price. = noisy
I could sel you a s-5 at a good price = noisy


or the sp20's                       not that noisy
or the avalon 6's   1   2 or 3  not that noisy

[notlist3d]

DO NOT risk your job to plug in gear.  If you have a good computer job at a school you will lose it for bringing in miners and using the schools electricity.   Read the things you signed but most/almost all are going to have a policy about unauthorized device.   I can't imagine risking a sys admin job at a school over a few miners.

Honestly look at ways to mine at your apartment, or hosting.  A few miners is not worth your job.

Agreed, I would never risk my job for a few miners. We actually have "work orders" for when we want to bring in "outside" equipment that has not been tagged by the district which we want to run off the network... and normally I am the one who approves these work orders. Mine has already been approved, and administration has never questioned a thing ive done. I'm sure it would raise question if I wanted to start a huge mining operation while stealing their energy but thats not my scope at the moment.

On another note, the school also runs a private folding farm for a tech teacher. He does not use it for teaching purposes and its pretty big.

You have to understand what's wrong with this though if you approving your own equipment like miners to be plugged into school network.   Are you very clear about cost associated with running them? And how profit soley goes into your profit?

It seems like at some point there would be some overview, and would look at this.   If your job has the role of approving outside equipment.... you know your doing the wrong thing with personal mining gear.  Your risking a lot I still think with approving your own requests.  It is part of being ethical in business you don't approve your on requests when you know it's done solely for personal gain.

[drazah]

DO NOT risk your job to plug in gear.  If you have a good computer job at a school you will lose it for bringing in miners and using the schools electricity.   Read the things you signed but most/almost all are going to have a policy about unauthorized device.   I can't imagine risking a sys admin job at a school over a few miners.

Honestly look at ways to mine at your apartment, or hosting.  A few miners is not worth your job.

Agreed, I would never risk my job for a few miners. We actually have "work orders" for when we want to bring in "outside" equipment that has not been tagged by the district which we want to run off the network... and normally I am the one who approves these work orders. Mine has already been approved, and administration has never questioned a thing ive done. I'm sure it would raise question if I wanted to start a huge mining operation while stealing their energy but thats not my scope at the moment.

On another note, the school also runs a private folding farm for a tech teacher. He does not use it for teaching purposes and its pretty big.

You have to understand what's wrong with this though if you approving your own equipment like miners to be plugged into school network.   Are you very clear about cost associated with running them? And how profit soley goes into your profit?

It seems like at some point there would be some overview, and would look at this.   If your job has the role of approving outside equipment.... you know your doing the wrong thing with personal mining gear.  Your risking a lot I still think with approving your own requests.  It is part of being ethical in business you don't approve your on requests when you know it's done solely for personal gain.

Whoops, my mistake. I said "normally" because i ment to put that my upper administration approved it. If i ever have a personal request of my own, then i CANNOT approve it myself, it must go to the Senior SA for approval. I put ~5k monthly wattage on the work order and even that was approved, im pretty sure the 2 S4s that im getting are less than that. But you are correct, it is done solely for personal gain, they understand the power draw and don't ask what its for. It is just something that is available to me, I personally am not worried at all, in my work environment this is pretty common (which is why these work orders exist) especially at a private technical school.

*edit* added a little more to the end.