Mining with free electricity

[Marquall]

Hi all,

I'm a long time lurker but today I bit the bullet and made an account.

I live on a military camp and I don't pay for electricity, I'm thinking of buying an s7 (only one I can afford right now) and leaving it running. Noise isn't a issue, connectivity is a bit of an issue due to third party software but not insurmountable, heat is an interesting one but I think I have a solution for it.

Is it a good idea to get into mining bitcoin still given I won't be paying for electricity? Or would an altcoin be more appropriate? 

[1714899189]

1714899189

[mocacinno]

Hi all,

I'm a long time lurker but today I bit the bullet and made an account.

I live on a military camp and I don't pay for electricity, I'm thinking of buying an s7 (only one I can afford right now) and leaving it running. Noise isn't a issue, connectivity is a bit of an issue due to third party software but not insurmountable, heat is an interesting one but I think I have a solution for it.

Is it a good idea to get into mining bitcoin still given I won't be paying for electricity? Or would an altcoin be more appropriate?  

Altcoin mining might give you a better profit, but you'll have to keep an eye on the altcoin markets and diff to decide what to mine at that particular time, since you'll have to mine GPU-minable altcoins, and those networks fluctuate in diff quite often, new coins hit the market often and prices fluctuate to (an altcoin ASIC is more expensive than a second hand S7, so you won't be able to afford it, you'll be bound to a GPU rig... Basically an old PC with 1 or 2 GPU's).
Bitcoin mining is more of a setup-once, then forget kind of deal.

An S7 hashes at 4.86 Th/s and seems to be more reliable than the (newer, and more efficient) S9:
At current diff and BTC price, an S7 will make you ~$136/month
https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=2600.00&pc=0.0&pf=1&d=1103400932964.29000000&r=12.50000000&er=4137.40000000&hc=0.00

Do be carefull, in my opinion, there is no such thing as "free electricity". In the end, somebody is always paying the bill.
It might be possible that the one paying the bill does not care if you use a couple Kwatt's, but i wouldn't assume they're not going to care about the power bill unless i'd asked them first...
A couple hundred bucks is not worth losing your job over

[lucifochrome]

Hi all,

I'm a long time lurker but today I bit the bullet and made an account.

I live on a military camp and I don't pay for electricity, I'm thinking of buying an s7 (only one I can afford right now) and leaving it running. Noise isn't a issue, connectivity is a bit of an issue due to third party software but not insurmountable, heat is an interesting one but I think I have a solution for it.

Is it a good idea to get into mining bitcoin still given I won't be paying for electricity? Or would an altcoin be more appropriate?  

Do be carefull, in my opinion, there is no such thing as "free electricity". In the end, somebody is always paying the bill.
It might be possible that the one paying the bill does not care if you use a couple Kwatt's, but i wouldn't assume they're not going to care about the power bill unless i'd asked them first...
A couple hundred bucks is not worth losing your job over

Just like mocacinno said, mining a few couple of bucks is not worth losing your job. Especially that youre in a military camp someone will notice. Nothing is really free but in my opinion if you are in the military you can ask your superior for permission just so that someone will answer for you if ever you were questioned. Now to answer the question i think with the budget that you have for the asic miner you are better off mining alt coins because even with s9 it is going to be hard to mine bitcoin in order to make a profit you need more miners to do that or you will just be breaking even. I have heard that some people are mining bitcoin cash now since it is more profitable. I hope you gain profit on your venture. Not to discourage you, but please do take note that there are a lot of things to consider consider not just the electricity although you might be getting free electricity but with the cost of the asic miner  you may not be able to make enough or you will barely making it even. Miners tend to make a loud noise and i know you already considered that, if you also consider the heat that it make so you need to have a well ventilated place because if not then your investment will be all for nothing.

[Landagert]

As everyone had said in the previous reply, you should consider the risk carefully. Whether the benefit outweigh the risk. if it doesn't, then it is like your just asking for trouble.

[reflector]

As everyone had said in the previous reply, you should consider the risk carefully. Whether the benefit outweigh the risk. if it doesn't, then it is like your just asking for trouble.

Since op said that he is working in military camp so I think you will not be able to take a risk to start mining. If you near to any computer market. Then you buy around 3 to 4 graphics card and start GPU mining. Altcoin mining is profitable with the graphics cards.

[KaliLinux]

Hi all,

I'm a long time lurker but today I bit the bullet and made an account.

I live on a military camp and I don't pay for electricity, I'm thinking of buying an s7 (only one I can afford right now) and leaving it running. Noise isn't a issue, connectivity is a bit of an issue due to third party software but not insurmountable, heat is an interesting one but I think I have a solution for it.

Is it a good idea to get into mining bitcoin still given I won't be paying for electricity? Or would an altcoin be more appropriate? 

I think you are very lucky to have electricity for free. Its main capital for mining and your idea about the altcoin mining is good to go. Truth is you could not see like bitcoin where its value getting increased day by day. Better to go with bitcoin if you want low risk.
You need some patience in altcoin mining because we can mine them but during the trade you need focus when the value may get increased and sell them at the profit rate.

[NotFuzzyWarm]

Guess needs to be repeated - READ Bitcoin Mining 101 very short and to the point.

Remember these are industrial miners and as such are power hungry, LOUD and hot. Do NOT expect to be able to make them quiet. Make proper preparations for dealing with the heat and noise they make.

[franco123]

Hi all,

I'm a long time lurker but today I bit the bullet and made an account.

I live on a military camp and I don't pay for electricity, I'm thinking of buying an s7 (only one I can afford right now) and leaving it running. Noise isn't a issue, connectivity is a bit of an issue due to third party software but not insurmountable, heat is an interesting one but I think I have a solution for it.

Is it a good idea to get into mining bitcoin still given I won't be paying for electricity? Or would an altcoin be more appropriate? 

Yes take this opportunity as it will be a good investment since you will just be buyung the hardware. Electricity is a big chunk of the cost of Bitcoin mining. But since you already have that resource, you might as well try out mining other cryptocurrencies as well. A lot of miners has stopped because electricity in their areas spiked up their rates. And some miners will only have few return on investment when they are already settling the electricity bills.

[parkers]

If you have free electricity then the mining is 100% worth it. For loudness and heat, you should consider reading other good topics.
Good luck.

[Oceat]

As everyone had said in the previous reply, you should consider the risk carefully. Whether the benefit outweigh the risk. if it doesn't, then it is like your just asking for trouble.

Since op said that he is working in military camp so I think you will not be able to take a risk to start mining. If you near to any computer market. Then you buy around 3 to 4 graphics card and start GPU mining. Altcoin mining is profitable with the graphics cards.

I don't if their superior would want it like without asking any permission on what is he doing about of that miner. Even if OP was working on the military camp their should be a permission because it's not like your home especially he's not the paying the bills on it. So, it would be likely you are asking for trouble. Mining is a great great opportunity especially if have a high-end miner like Antminer S9 but it's a bit expensive and i guess you can afford it especially that you are working in the military.

[philipma1957]

If you have free electricity then the mining is 100% worth it. For loudness and heat, you should consider reading other good topics.
Good luck.

Free electricity dont exist just if you steal it.

yeah but if you are allowed to run this it uses the same power that an s-7 or s-9 uses.

both give the same heat around 1200 watts or so.

so you would not be stealing it.