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Author Topic: Starting to bitcoin + paid assistance  (Read 406 times)
UnknownTechGuy
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May 18, 2017, 08:26:49 PM
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Hi,

I currently signed a 14 months contract with a company experimenting solar panel electricity and so on. Where I'm currently being offered a specific amount of electricity, which I'm not going to be fully use and goes to waste. So I started researching about bitcoin, bitcoin mining, and is a whole new world. And I'm always up for adventures that may lead to profit.

So, I have available 3,500 Kwh monthly (can try to renegotiate for more if really worths it). So the real question is.

Does it still worth it, assuming I'm not really paying for electricity? I have always many projects going on at once, so my time gets limited as well, if it takes too much of my time.

And since I don't expect anyone to waste their time for free, going through from basic things to completely setting up from start to fully working for a fixed price, and hope for the best.

Hoping all that made sense,

//UTC
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May 18, 2017, 08:31:47 PM
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There will be a couple other factors you must take into consideration. What kind of budget do you have for investment into miners themselves and what kind of ROI are you comfortable with? How many miners can fit within your electricity capacity after you deduct costs/electricity consumption for cooling/ventilation. With free electricity miners can ROI much faster, non considering potential leaps in difficulty.

Do you have any IT or remote server management experience? An alternate idea might be to offer miner hosting services to people who already have miners and they pay you a monthly fee. Just a thought.

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May 18, 2017, 09:16:08 PM
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I appreciate that incredibly fast response, help and suggestion.

I totally forgot about the electricity consumption of extra cooling that will be needed. Budget is up to $5,000 for the first month, and then $2,000 for a few months + any bitcoin earning hoping to keep expanding when possible. Depending on how it may go, then see if the contract can be renewed before trying to get any returns. Figured, on worst case, sell any equipment for cheap after the 14 months and hope that it covers everything.

I do have IT experience, however, I rather don't have any extra stress that can affect others, like if a day, the electricity ,internet or a machine fails. It could just be my issue and not have the pressure of others having problems while it's fixed.
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