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Author Topic: Start Mining nowdays.  (Read 1235 times)
WillMineForFood
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February 27, 2017, 01:48:37 AM
 #1

I would like to start minning , looking to spend into the best I could so I don't have to change miners as soon as they'r new ones.
I got a budget of almost 2.000USD.

Would like to know what to do; I got free electricity for this.
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February 27, 2017, 04:43:29 AM
 #2

You should start by looking what's available around you (miners, power supplies, etc.)
What kind of infrastructure do you have to support the mining operation? Are you doing this in your home?

WillMineForFood
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February 27, 2017, 08:04:32 PM
 #3

You should start by looking what's available around you (miners, power supplies, etc.)
What kind of infrastructure do you have to support the mining operation? Are you doing this in your home?

Hello and thanks for you'r answer yes, I should buy everything to support it, I do have a room with nothing on it to used it.
I still don't know wich would be the best hardware to buy.
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February 28, 2017, 06:10:26 PM
 #4

You could get a 6pack of antminers s5 for that price but you should really think about it.
How much are you paying for electricity? Is your internet and power reliable? What are the temperatures in summer?
You really need great conditions to profit from home mining these days.


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March 01, 2017, 09:03:49 AM
 #5

You could get a 6pack of antminers s5 for that price but you should really think about it.
How much are you paying for electricity? Is your internet and power reliable? What are the temperatures in summer?
You really need great conditions to profit from home mining these days.
The op said that he has free electricity. So no worry about electricity or power costs. What you suggest is good. I think its profitable enough since the op's electricity is free. But he is must be aware of laws about bitcoin mining. Is it legal to mine in your country? Some country prohibits bitcoin mining. If its not. Then do it. You should look on ebay for cheaper hardware  but in good condition. So you can save more money.


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mocacinno
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March 01, 2017, 09:11:03 AM
 #6

You could get a 6pack of antminers s5 for that price but you should really think about it.
How much are you paying for electricity? Is your internet and power reliable? What are the temperatures in summer?
You really need great conditions to profit from home mining these days.

An S5 does have a power draw of 590W, since you need a PSU, network, lighting,... Let's round it up to 600W.
5*600 = 3Kw.

I'm not an electrician, but i suppose most domestic circuits won't have a problem with this extra power draw.

Do realise you're creating 3Kw worth of heat. Also, there will be noise.

As for the profits:
5 * 1155 Gh = 5775 Gh.
At current diff, BTC price and block reward:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=5775&p=3000&pc=0.00&pf=1.00&d=440779902286.58900000&r=12.50000000&er=1203.73000000&hc=2000

over 500 days to break even if you invest $2000 AND have free electricity. Personally, i think that's way to long...

Personally, in order to be interesting to mine with S5's and free power, you'd need to be able to buy 20 S5's + 20 PSU's + racks + network + cooling for that $2000. This might pose a challenge, since you'd only be spending $100 per S5+PSU+1/20 of a rack + 1/20 of an AC + shipping + customs charges + ...

In this case, you'd have 20*600W power draw = 12Kw, i'd suggest to contact an electrician!!! Also, do realise there is no thing like "free electricity". Sure, sometimes you rent student housing, or your employer doesn't mind if you install a miner in his server room, but 12Kw of power draw might draw attention to your mining activities... Free electricity might lead to an eviction or getting you fired, so think twice before doing this...

20*1155Gh = 23100Gh
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=23100&p=3000.00&pc=0.00&pf=1.00&d=440779902286.58900000&r=12.50000000&er=1203.73000000&hc=2000.00

~130 days to break even AT CURRENT DIFF, BLOCK REWARD and BTC PRICE (keep this in mind)


I'd strongly suggest to buy a second hand S7, S9, Avalon 6, Avalon 721 or Avalon 741 instead of an S5 and re-do the complete calculation BEFORE buying anything.

WillMineForFood
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March 03, 2017, 01:48:56 AM
 #7

You could get a 6pack of antminers s5 for that price but you should really think about it.
How much are you paying for electricity? Is your internet and power reliable? What are the temperatures in summer?
You really need great conditions to profit from home mining these days.

An S5 does have a power draw of 590W, since you need a PSU, network, lighting,... Let's round it up to 600W.
5*600 = 3Kw.

I'm not an electrician, but i suppose most domestic circuits won't have a problem with this extra power draw.

Do realise you're creating 3Kw worth of heat. Also, there will be noise.

As for the profits:
5 * 1155 Gh = 5775 Gh.
At current diff, BTC price and block reward:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=5775&p=3000&pc=0.00&pf=1.00&d=440779902286.58900000&r=12.50000000&er=1203.73000000&hc=2000

over 500 days to break even if you invest $2000 AND have free electricity. Personally, i think that's way to long...

Personally, in order to be interesting to mine with S5's and free power, you'd need to be able to buy 20 S5's + 20 PSU's + racks + network + cooling for that $2000. This might pose a challenge, since you'd only be spending $100 per S5+PSU+1/20 of a rack + 1/20 of an AC + shipping + customs charges + ...

In this case, you'd have 20*600W power draw = 12Kw, i'd suggest to contact an electrician!!! Also, do realise there is no thing like "free electricity". Sure, sometimes you rent student housing, or your employer doesn't mind if you install a miner in his server room, but 12Kw of power draw might draw attention to your mining activities... Free electricity might lead to an eviction or getting you fired, so think twice before doing this...

20*1155Gh = 23100Gh
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=23100&p=3000.00&pc=0.00&pf=1.00&d=440779902286.58900000&r=12.50000000&er=1203.73000000&hc=2000.00

~130 days to break even AT CURRENT DIFF, BLOCK REWARD and BTC PRICE (keep this in mind)


I'd strongly suggest to buy a second hand S7, S9, Avalon 6, Avalon 721 or Avalon 741 instead of an S5 and re-do the complete calculation BEFORE buying anything.

This is really helpfully thanks a lot Mocacinno.
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March 07, 2017, 08:35:28 PM
 #8

Save yourself the trouble mate and just buy the coins directly. Much better investment, believe me Wink
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March 12, 2017, 02:44:29 PM
 #9

Save yourself the trouble mate and just buy the coins directly. Much better investment, believe me Wink
No, I don't agree with that.  If the OP has free electricity, mining is still a pretty good investment.  Electricity is generally what separates amateurs from professionals but if his situation is good he could get ROI within a couple of years.
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March 13, 2017, 06:52:48 AM
 #10

Save yourself the trouble mate and just buy the coins directly. Much better investment, believe me Wink
No, I don't agree with that.  If the OP has free electricity, mining is still a pretty good investment.  Electricity is generally what separates amateurs from professionals but if his situation is good he could get ROI within a couple of years.

still even with free electricity you need to invest and asic ain't cheap, or he have free asic too? it's better to invest in bitcoin than waiting 1 year for roi, with bitcoin as of now there is a huge chance of another pump, which would make you profit a ton more than mining

and i don't believe he have free electricity, usually this mean two thing, stealing, or already paid in his rented house or something
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March 13, 2017, 06:59:49 AM
 #11

You say that you want best but with thay money you can't to buy. I don't know if antminer s7 is profitable with free electricity but it will be better if you will add some money and than go and buy antminer s9. If I amn't wrong, ROI with free electricity is 140%. Also you can to try altcoin mining, bitmain is working on antminer l3 (thread: https://bitcointalk.org/index.php?topic=1734098.0) or baikal miner or GPU mining.

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