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Author Topic: Give me advises about bitcoin maining  (Read 848 times)
geoalgin
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June 30, 2016, 10:11:12 AM
 #1

Hello. I am new here and need your help. If you can give me links what can I read to know basic information about mining
And please tell me what is required minimum capital to start this job (to earn 300-1000$ in a month).
Thanks.
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JeffBrad12
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June 30, 2016, 12:34:40 PM
 #2

Hello. I am new here and need your help. If you can give me links what can I read to know basic information about mining
And please tell me what is required minimum capital to start this job (to earn 300-1000$ in a month).
Thanks.
I can only give a specific information about minimum capital required to start mining, in your topic you want to earn $300-$1000 in a month, at first you can calculate how many khs you needed to getting bitcoin with equal $300-$1000 in a month. after this, you can make ant calculate about capital required to buy antminers or another mining machines.

visit this https://alloscomp.com/bitcoin/calculator

for more info about mining.

https://www.bitcoinmining.com/getting-started/

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philipma1957
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June 30, 2016, 01:13:46 PM
 #3

If you are mining in your home you need to understand cheap power is key.

What does your power cost you?  under 10 cents is good for mining if you need the heat the gear makes.

The newest bit coin mining machine is the s-9  it needs 1400 watts. it earns about 610 usd per month if you have free power.

it costs about 1950 usd and you need a psu  220 volt power is better since it allows for a cheaper psu.

so if you have free power and it is 220 volts you can buy this

https://bitcointalk.org/index.php?topic=1373092.0

the kit is about 100
https://bitcointalk.org/index.php?topic=1373092.msg15382282#msg15382282

the psu itself is about 36
http://www.ebay.com/itm/IBM-BladeCenter-1800W-Power-Supply-P-N-74P4400-FRU-P-N-74P4401-DPS-1600BB-/262500363232?

cooling fans are 30

so 165 and a very solid power supply if you have 220

so you can see you are over 2200 to earn 600 a month if you power is free

if you have 120 volt  this psu will do the trick


https://www.amazon.com/EVGA-SuperNOVA-PLATINUM-Crossfire-220-P2-1600-X1/dp/B00NJG61JQ/ref=sr_1_1?ie=UTF8&qid=1467292123&sr=8-1&keywords=evga+1600+p2

which means you are pushing 2400 to earn  600 a month if you have free power.

and it gets worse in 12 days we have a big price shake up coming as the rewards will reduce from 25 coins a block to 12.5 coins a block.

no one know what this will do.  but lets say you drop earnings from 600 a month to 300 a month   and that is if you have free power.

if you have ten cent power  you will be around 200 a month in earnings unless coins go up in price.

Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
I mine alt coins with https://simplemining.net I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
Barnabe
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June 30, 2016, 01:19:36 PM
 #4

You should maybe buy some old cheap miners to see if you really have conditions and knowledge to run these kind of hardware. It would be a shame if you spend hundreds of $ just to see that it's not what you expected. You could also try to mine alt-coins with your Cpu or Gpu (this simple experiment might be interesting if you have never mined anything and you could still exchange them for bitcoins).
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July 01, 2016, 06:22:37 AM
 #5

Free power is a must these days if you want to make profits with a couple of miners

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unthy
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July 01, 2016, 01:18:02 PM
 #6

Hello. I am new here and need your help. If you can give me links what can I read to know basic information about mining
And please tell me what is required minimum capital to start this job (to earn 300-1000$ in a month).
Thanks.

the hard part is you mention "this job" at this point for most it's going to be an investment, not a job.   It is in the higher risk/higher reward investments in my eyes.   So it takes a certain type of investor.

We would have to know your electricity price to even have a chance at this.  But you need to look at initial investment vs ROI.  Some you sit a while before you ever see a return.   And it is not till you pay off your miner you really see a return.   So assuming everything goes well you have a bit in most cases till you ever start earning over what you paid.  Also due to difficulty the amount you mine goes down overtime.

So to do it as a "job" consistent earning 300-1000 is going to take a decent investment, and re-investment's due to hashrate rising over time.  Also very broad range of income 1000 is over 3x the 300.  So big difference but you can get a decent idea playing with numbers on a ROI site such as this - https://bitcoinwisdom.com/bitcoin/calculator
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July 01, 2016, 06:54:57 PM
 #7

You'll need to buy the right miner at the right time, first off. Initially, a new miner that costs 2000 like the S9 might seem like a lot, but considering the fact that you've made a bit over 250 USD if you bought it and started mining immediately after receiving makes the cost a lot lower. Also, consider the fact that the S9 still costs around 2000 USD - it may be risky, but buying a miner just as it comes out is risky, but can work. 2000 is overpriced for an S9 imo, because profit just slows down more and more every day past the halving. If you're going to invest in miners, also have cheap electricity. People with "free" electricity are much better off than people without free electricity, because the cut from power costs is lower. I would say it's not too late to buy an S9 farm right now, but it is riskier than a week ago or a month ago.














 

 

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notlist3d
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July 01, 2016, 08:51:37 PM
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You'll need to buy the right miner at the right time, first off. Initially, a new miner that costs 2000 like the S9 might seem like a lot, but considering the fact that you've made a bit over 250 USD if you bought it and started mining immediately after receiving makes the cost a lot lower. Also, consider the fact that the S9 still costs around 2000 USD - it may be risky, but buying a miner just as it comes out is risky, but can work. 2000 is overpriced for an S9 imo, because profit just slows down more and more every day past the halving. If you're going to invest in miners, also have cheap electricity. People with "free" electricity are much better off than people without free electricity, because the cut from power costs is lower. I would say it's not too late to buy an S9 farm right now, but it is riskier than a week ago or a month ago.

There are just so many variables I still say you cannot group all in one category.   Most people with "free" have a limit of a certain amount of electricity, also a lot tend to be apartment (there are a few that have at business) but I think majority are apartment's.  So these need to make sure the can handle the heat/noise.   And you can do it even with the loudest of miners at one point when doing reviews on miners I slept with them in room for a bit, but something to think of and some do things to make quieter.    

I think it can be done with paying for electricity, I would not attempt at higher then 10 cent's as you can find hosting for it.   The question is how long can you run a miner at that... it comes to speculation but I would guess some will mine to a point and sell and ROI.  Others will cheap electricity will mine them into the ground and pull off ROI.   There are lot's of way's to do it.

Also a HUGE thing that does not get mentioned much is if your buying in BTC or USD.   If you buy a 2,000 USD machine in dollars then you just need to make over that 2,000 to have a return, a big upswing in BTC price can help a lot with this one. There is argument you could be better off of bought and held coins... but still ROI is ROI.  Now say if you pay 3 BTC your end goal is to get more then 3 BTC.   So I think what your purchasing with is a factor that should be mentioned more.
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