Moving to the Philippines and Starting a bitcoin farm.

[Willhays]

I have been doing my research on BitCoin farm, how does it work, RoI and the various other things.
I am open to tips, advices and articles that you guys think a newcomer should read, but what i am not finding is a Supplier of BitCoin Mining hardware in Asia. I know that China is the land of BitCoin Farming as is America, but it has been really difficult to find any supplier. Maybe because i cant speak and type mandarim? Anyway, i would to know if you guys have the knowledge of any or some place i could look into. I have found GridSeed.com, but they seem to have moved to another website or closed business.

Thanks

[1714188072]

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[1714188072]

1714188072

[1714188072]

1714188072

[adaseb]

You need to buy a time machine and go back to 2009 and then start a Bitcoin mining farm.

[Willhays]

So there is no point in buying Mining Hardware anymore? There is no profitable machine out there?

I am doing a lot of research on Chinese BW Machines, but it seems they only sell 1PetaHash and in a very exclusive channel of trade.

Also i have been reading that investing in casino/gamble websites is a good way to start small (1-4 BTC), and to stay away from Cloud Mining. Can you support or refute those informations that i have gathered so far?

Thank you.

[leowonderful]

So there is no point in buying Mining Hardware anymore? There is no profitable machine out there?

I am doing a lot of research on Chinese BW Machines, but it seems they only sell 1PetaHash and in a very exclusive channel of trade.

Also i have been reading that investing in casino/gamble websites is a good way to start small (1-4 BTC), and to stay away from Cloud Mining. Can you support or refute those informations that i have gathered so far?

Thank you.

adaseb was speaking some hyperbole, but it is still possible to make money with bitcoin miners if you do have cheap enough electricity. Antminer S9s work well for electrical and cooling costs below 0.10$/kwh, and Antminer S7s generally work if your costs are below 0.04$/kwh. Casino investments do indeed sometimes work well, but large losses are always possible with such investments. Cloud Mining is indeed bad, and most are simply Ponzi scams or don't pay at all.

Gridseed died quite a while ago, and all of their scrypt miners are outdated. The Innosilicon Dominator A4 is what you'll be looking for with Scrypt ASICs, but this is the bitcoin forum, and even so, Scrypt coins are mainly dead in my opinion in terms of prices.

[Willhays]

adaseb was speaking some hyperbole, but it is still possible to make money with bitcoin miners if you do have cheap enough electricity. Antminer S9s work well for electrical and cooling costs below 0.10$/kwh, and Antminer S7s generally work if your costs are below 0.04$/kwh. Casino investments do indeed sometimes work well, but large losses are always possible with such investments. Cloud Mining is indeed bad, and most are simply Ponzi scams or don't pay at all.

Gridseed died quite a while ago, and all of their scrypt miners are outdated. The Innosilicon Dominator A4 is what you'll be looking for with Scrypt ASICs, but this is the bitcoin forum, and even so, Scrypt coins are mainly dead in my opinion in terms of prices.

Thank you for the insight. My problem with the S9 is the initial cost, 1300 USD per machine is really high, and also i have read that the chinese BW got a hardware to work on 0.095 J/GHs. The machine is BW-LK1402, but as i have found so far they only sell 1 peta hash worth of hardware as a minimum, which is an absurd amount of money for me. I can get electricity around 0.04 USD, so i was thinking on buying all used S7's that i can grab out there while i make money to invest on the chinese stuff.

Do you have any insights on the chinese BW? Thank you.

[leowonderful]

adaseb was speaking some hyperbole, but it is still possible to make money with bitcoin miners if you do have cheap enough electricity. Antminer S9s work well for electrical and cooling costs below 0.10$/kwh, and Antminer S7s generally work if your costs are below 0.04$/kwh. Casino investments do indeed sometimes work well, but large losses are always possible with such investments. Cloud Mining is indeed bad, and most are simply Ponzi scams or don't pay at all.

Gridseed died quite a while ago, and all of their scrypt miners are outdated. The Innosilicon Dominator A4 is what you'll be looking for with Scrypt ASICs, but this is the bitcoin forum, and even so, Scrypt coins are mainly dead in my opinion in terms of prices.

Thank you for the insight. My problem with the S9 is the initial cost, 1300 USD per machine is really high, and also i have read that the chinese BW got a hardware to work on 0.095 J/GHs. The machine is BW-LK1402, but as i have found so far they only sell 1 peta hash worth of hardware as a minimum, which is an absurd amount of money for me. I can get electricity around 0.04 USD, so i was thinking on buying all used S7's that i can grab out there while i make money to invest on the chinese stuff.

Do you have any insights on the chinese BW? Thank you.

BW doesn't seem to be immediately selling their hardware, and are probably purposefully selling their miner really high. As far as I know, they haven't delivered any and nobody's recieved one and posted about it. The S9 does indeed have a pretty high unit cost. The S7 won't really deliver for much longer at your electrical cost (sorry, I didn't estimate well before). Ethereum and Equihash mining can work out for you, though- if you're interested in GPU mining, check out the altcoin section- they have a lot of the information on that.

[Willhays]

Thank you for the insight. My problem with the S9 is the initial cost, 1300 USD per machine is really high, and also i have read that the chinese BW got a hardware to work on 0.095 J/GHs. The machine is BW-LK1402, but as i have found so far they only sell 1 peta hash worth of hardware as a minimum, which is an absurd amount of money for me. I can get electricity around 0.04 USD, so i was thinking on buying all used S7's that i can grab out there while i make money to invest on the chinese stuff.

Do you have any insights on the chinese BW? Thank you.

BW doesn't seem to be immediately selling their hardware, and are probably purposefully selling their miner really high. As far as I know, they haven't delivered any and nobody's recieved one and posted about it. The S9 does indeed have a pretty high unit cost. The S7 won't really deliver for much longer at your electrical cost (sorry, I didn't estimate well before). Ethereum and Equihash mining can work out for you, though- if you're interested in GPU mining, check out the altcoin section- they have a lot of the information on that.

Thank you!

I will be looking into it. The thing is that i have a free budget of around 2 BTC a month and i was wondering where should i invest that money. I am currently moving in the phillipines, where those 12 Bitcoins are a real profit and i can set up good stuff that i would be impossible in NA/EU.

[unholycactus]

I'm not sure why I've seen so many posts by complete beginners trying to start a mining form.
You could look similar posts in this forum, but they all lean towards telling you the same thing which would be to not start a farm.

0.04$/KWh isn't that great. It would still take a decent amount of time to ROI, 250 days would be my guess depending on the hardware.

[sidehack]

What's the ROI math for a $250 S7 doing 4TH at 950W on $0.04 versus an S9 on the same? With cheap and plentiful power it's not always a bad idea to run a generation behind and undervolt the crap out of 'em. Saves a lot of upfront cost.

[Daisy14]

Altcoin mining is a faster way of making profit for beginners. Thing is you have to do some research on the most profitable alt to mine.

[sidehack]

And you don't have to with altcoins, but it helps to ignore ethics. Considerations like who's left holding the bag when the short (for most coins) burst of profitability you capitalized on has ended, stuff like that, though I'd be surprised if the choices weren't as plentiful and terrible as they were a couple years ago when alt mining was literally a "coin of the day" game.

Course, most anyone looking solely at short-term profits is probably ignoring a lot of ethical considerations anyway; that's just human nature.