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Author Topic: Start mining? Free electricity, investment in Antminer S9  (Read 1633 times)
cashodler
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August 07, 2017, 03:47:20 PM
 #1

I have an opportunity to mine and not pay any electricity bills, I'm thinking about buying the Antminer S9, which is the most profitable and best miner on the market. Do you think it's a good idea? I have already profits from bitcoin that would cover the whole investment. Of course purchasing from Bitmain.

1) Are there any tax that I should pay when it arrives to my country (CZ)?

2) Do you mine? If so or if you're knowledgeable which pool would you recommend me? I'm actually from CZ, the origin of the world's first bitcoin mining pool (Slush Pool), I guess Slush Pool would be great, heard that joining for example Antpool as a small miner doesn't give u so much profit.

3) Why do you think Bitmain sells these machines and not just use them to win even more blocks?
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DustyRah
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August 07, 2017, 04:20:58 PM
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If you can get your hands on free electricity that's great. Do you also have an environment which has a stable cool temperature? If so, you should buy the S9 ASAP and start mining.

I mean at the end of the day it seems you are a Bitcoin investor so why not enjoy mining a bit and make money along the way. Do it fast though since the difficulty is rising very quickly.

I have mined on Slush's pool, the profits were a tad bit lower than on some other pools I have tried but its a nice pool to mine on. I got the 'feeling' like the numbers were being worked on on Slush's pool but did not really did deeper into it.

They sell because they don't want to put all their eggs in one basket. Moreover the margin from mining is not all that great after having to pay for power/cooling and other maintenance. They price it just about there where it looks profitable.
cashodler
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August 07, 2017, 05:21:21 PM
 #3

There's a strong air-conditioner, it's a server housing for members of a club, people can put there their servers at no cost, it's a bonus for being active. I'm buying when they release a new batch!
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August 07, 2017, 05:56:20 PM
 #4

I have an opportunity to mine and not pay any electricity bills, I'm thinking about buying the Antminer S9, which is the most profitable and best miner on the market. Do you think it's a good idea? I have already profits from bitcoin that would cover the whole investment. Of course purchasing from Bitmain.

1) Are there any tax that I should pay when it arrives to my country (CZ)?

2) Do you mine? If so or if you're knowledgeable which pool would you recommend me? I'm actually from CZ, the origin of the world's first bitcoin mining pool (Slush Pool), I guess Slush Pool would be great, heard that joining for example Antpool as a small miner doesn't give u so much profit.

3) Why do you think Bitmain sells these machines and not just use them to win even more blocks?

Antminer s9 is the best miner that I agree but tax will be gettable if you use it via banks and more greedy government is take control in your country. However, you will get bitcoin only right. Then no tax.
Have GPU mining software and hardware which is best to use it.

bitcoinstress
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August 07, 2017, 06:02:21 PM
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Do you offer to us for investing to you and we only need to buy antminer s9. there is any a guarantee for it.

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August 07, 2017, 08:25:33 PM
 #6

I have an opportunity to mine and not pay any electricity bills, I'm thinking about buying the Antminer S9, which is the most profitable and best miner on the market. Do you think it's a good idea? I have already profits from bitcoin that would cover the whole investment. Of course purchasing from Bitmain.

1) Are there any tax that I should pay when it arrives to my country (CZ)?

2) Do you mine? If so or if you're knowledgeable which pool would you recommend me? I'm actually from CZ, the origin of the world's first bitcoin mining pool (Slush Pool), I guess Slush Pool would be great, heard that joining for example Antpool as a small miner doesn't give u so much profit.

3) Why do you think Bitmain sells these machines and not just use them to win even more blocks?

Go for it. Remember people often change their minds when they see just how much electicity you're actually using.
1. Probably there is an import duty (UK is same as VAT - 20%!!!!) , but you may get away without. Depends on many things, like the carrier.
2. Use Slush and some backup pools. Actually any pool should pay the same. Slush seems more popular round here.
3. To get some guaranteed returns up front.

Maybe move thread to mining speculation for more experienced commentary....

I do not accept segwit outputs as payment, nor send them.
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August 07, 2017, 09:16:51 PM
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You'd be better off mining something with low difficulty like bitcoin cash, or one of the alts.

It's no longer possible for lay people to mine bitcoin, that is now in the hands of multimillion dollar companies, and the hashrate they deploy is formidable, and it's impossble to compete with them.

cashodler
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August 07, 2017, 09:22:53 PM
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You'd be better off mining something with low difficulty like bitcoin cash, or one of the alts.

It's no longer possible for lay people to mine bitcoin, that is now in the hands of multimillion dollar companies, and the hashrate they deploy is formidable, and it's impossble to compete with them.

currently if I mined with solo Antminer S9, I'd get around minimum wage profit in my country, I guess that's good.
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August 07, 2017, 09:24:25 PM
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You'd be better off mining something with low difficulty like bitcoin cash, or one of the alts.

It's no longer possible for lay people to mine bitcoin, that is now in the hands of multimillion dollar companies, and the hashrate they deploy is formidable, and it's impossble to compete with them.

I agree with you, I investigated bitcoin mining for long time but I saw that it's nor profitable to maintain individual bitcoin mining at home. In addition, antminer S9 is working very loud, I tested it. You can't place it in a civil area. And it has a temperature problem. You need a efficient cooling system to keep it under control. For the tax, I don't know your county if they apply additional tax at customs.

cashodler
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August 07, 2017, 09:31:44 PM
 #10

I have an opportunity to mine and not pay any electricity bills, I'm thinking about buying the Antminer S9, which is the most profitable and best miner on the market. Do you think it's a good idea? I have already profits from bitcoin that would cover the whole investment. Of course purchasing from Bitmain.

1) Are there any tax that I should pay when it arrives to my country (CZ)?

2) Do you mine? If so or if you're knowledgeable which pool would you recommend me? I'm actually from CZ, the origin of the world's first bitcoin mining pool (Slush Pool), I guess Slush Pool would be great, heard that joining for example Antpool as a small miner doesn't give u so much profit.

3) Why do you think Bitmain sells these machines and not just use them to win even more blocks?

Go for it. Remember people often change their minds when they see just how much electicity you're actually using.
1. Probably there is an import duty (UK is same as VAT - 20%!!!!) , but you may get away without. Depends on many things, like the carrier.
2. Use Slush and some backup pools. Actually any pool should pay the same. Slush seems more popular round here.
3. To get some guaranteed returns up front.

Maybe move thread to mining speculation for more experienced commentary....

Bitmain uses UPS for this, it's paid with bitcoin, do you think that would qualify for paying import duty if the requirements are that if it's over 150 EUR, you pay the VAT 21 % + duty 15 % in my country or would they let it go? And we make 10 times less money for the same work than people in the US just for comparison.


from different topic

Quote
live in Ecuador. Bitmain sent mine with DHL and listed it on the invoice as a "Video Game Gateway" and listed the value about $160. Ecuadorian Customs only charged about $16 for the duty, which DHL covered and then charged me $10 for the service. So I only paid $26 more than the price of the miner and there was no delay in delivery.
Last of the V8s
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August 07, 2017, 10:07:38 PM
 #11

it's a complete crapshhot
you can ask bitmain politely to do similar to the ecuadorian
you need to research amongst your compatriots

I do not accept segwit outputs as payment, nor send them.
tbonetony
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August 08, 2017, 03:46:41 PM
 #12

if you are mining from cz, slush probably is better due to lower latency.
As for BM, anything they do would mostly be due to profits.

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Mahanton
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August 08, 2017, 07:22:38 PM
 #13

if you are mining from cz, slush probably is better due to lower latency.
As for BM, anything they do would mostly be due to profits.
I would rather choose slushpool than on antpool. They would really do anything just to make more money. Saying that they should create miners for theirselves wont really generate them more profit. They will surely sell out miners to public and wont decide to spoil it on their own. Free electricity would really be a good advantage here on mining world.

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