free electricity what would you do?

[Coffee135]

Now the profitability of mining GPU has decreased to such a level that even the availability of free electricity does not guarantee you income.

LOL, what??  if the electricity is free it doesn't matter - as long as the coins being mined are worth >$0 it is profitable.

You must have been very bad at math. GPU has its life span. This is about 2 years, but there are deviations. Are you sure that with the constant decline in the prices of the coins you will have time to recoup their costs for the purchase of the GPU. Mining does not forgive mistakes. I know a lot of people who made a mistake in their calculations and now I regret that I have wasted a lot of money on the GPU.

[cloudhax]

Now the profitability of mining GPU has decreased to such a level that even the availability of free electricity does not guarantee you income.

LOL, what??  if the electricity is free it doesn't matter - as long as the coins being mined are worth >$0 it is profitable.

You must have been very bad at math. GPU has its life span. This is about 2 years, but there are deviations. Are you sure that with the constant decline in the prices of the coins you will have time to recoup their costs for the purchase of the GPU. Mining does not forgive mistakes. I know a lot of people who made a mistake in their calculations and now I regret that I have wasted a lot of money on the GPU.

1) if your gpus only last you 2 years you are doing something wrong
2) you are assuming $0 resale value

[swogerino]

I would buy 2 S9 rather than going with GPU-s. The antminer is a bit better in profitability compared to the GPU-s, now in the antminer market newcomers are few while in the GPU mining sector there are a lot of noobs who are entering wanting to make that quick buck and they are adding to difficulty. With free electricity is always a good idea to go with ASIC miners compared to GPU-s.

[nsummy]

Now the profitability of mining GPU has decreased to such a level that even the availability of free electricity does not guarantee you income.

LOL, what??  if the electricity is free it doesn't matter - as long as the coins being mined are worth >$0 it is profitable.

You must have been very bad at math. GPU has its life span. This is about 2 years, but there are deviations. Are you sure that with the constant decline in the prices of the coins you will have time to recoup their costs for the purchase of the GPU. Mining does not forgive mistakes. I know a lot of people who made a mistake in their calculations and now I regret that I have wasted a lot of money on the GPU.

1) if your gpus only last you 2 years you are doing something wrong
2) you are assuming $0 resale value

Product life can be mitigated by getting something with a better warranty but you still are competing with the fact that your equipment will sooner or later be obsolete.  It will not only be worth less on the secondary market, it will also generate less income.  Lets put it this way, any mining now that has recently invested in a GPU is not concerned about the electricity cost;  They are concerned about the money they have sunk into the card(s)

[nsummy]

There is nothing wrong with hypothetical posts but the problem with this one is that it has been asked over and over and over;  Almost as much as "what is the best coin to mine" and "what is the best gpu"

Unless you have some giant mining operation (well above $5k) electrical costs will not make or break you.  Of course everyone wants to minimize the cost of doing business, but I can't think of any piece of equipment that uses so much electricity that it would be very profitable, if only electricity was free!  If anyone knows of such a thing let me know, I'll buy it and run and extension cord to my neighbors backyard 

[mbdmbn]

I'd grow a copious amount of weed, smoke a lot and trade some for Bitcoins, then I'd sit back, get high and wait for new all time highs, so that I can cash out and go live the dream  

[dhouse]

maybe i'd buy like 50 of those usb miners and make a usb mining farm 

[DevelopmentBank]

Remember that there is really no such thing as free electricity. If your parents are paying for it and you are about to use your college fund, don't do it! Mining is dangerously reaching the point where the cost of electricity is greater than the amount of mined coins in fiat. It might already be too late to join the mining game.

[Max Likelihood]

Well, here is what I would do. First, start watching gpu prices on ebay and stock-monitoring sites. Probably retail won't come down for a while, but right now there are 1100+ 1070s sitting on ebay "buy it now" starting at 400-420, which would have been unheard of even a couple weeks ago. They will go down further in a few more weeks, 1070tis haven't gotten low enough yet and 1080s still too high.

Now, most are so you have to assume some risk--sets are probably from miners, singles more likely to be from gamers (though they may have mined too). 1070tis, if they ever get into the 300s, weren't out until late last year so even if they were mined they're not too old. If you 1) find serviceable cards wiht your 5K on the second hand market products where prices are dropping, 2) then mine while difficulty is down d/t price slump (and if some algos discover they are getting asic'ed and successfully evade, bring dif down), 3) hold good coins till recovery, you might be able to ROI in an amount of time that's not totally insane.

[Vann]

I just did a search on eBay for 1070 in Graphics cards and came up with 12 BIN listings between $400 and $420.

https://www.ebay.com/sch/i.html?_from=R40&_sacat=0&_mPrRngCbx=1&_udlo=400&_udhi=420&_nkw=1070&rt=nc&LH_BIN=1

[Max Likelihood]

right, I mean they are starting at 400-420, not all listings are at that. Point is they're coming down, if OP waits he can get them lower soon.

[philipma1957]

This is so easy   buy the 420 coupons for bitmain

sellers are asking 70   so it is 350 off

the t9 is 755   so 755 +100 = 855 + 70 = 925 - 420 = 505  for 10.5 th

or 4545 for 94.5 th  get some psus.

and the gear would just earn money till it all dies

@ 4% diff jumps  you would be ahead 763 in 154 days
@ 5% diff jumps you would be ahead  456 in 154 days
@ 6% diff jumps you would be ahead   170 in 154 days

@ 7% diff jumps you would be ahead   492 in 184 days 2670 in 1 year

I assume coin price of 6950

[Kariste]

As we all know electricity is very important because it has a all around functions.
Like powering technology like our cellphones, lights computers and soldering irons which basically needed in doing mining.
So, if that could happen that electricity is free I'll do mining also and obviously can lesser the expenses and more profits to be gain.

[cloudhax]

Remember that there is really no such thing as free electricity.

true but some of us have "free" electricity and not by stealing it from parents/work/school.  My electric utility gives me free electricity for 9 hours a night due to an excess of wind power availability at night coupled with lower demand.   They expect you to pay for it indirectly with your daytime usage, but if profitability dips too low, I'll just run my rigs only at night during the free hours.

some people also have solar/wind/hydro setups that may have already paid for themselves over the years and are now generating a steady stream of 'free' power

[wheelz1200]

This is so easy   buy the 420 coupons for bitmain

sellers are asking 70   so it is 350 off

the t9 is 755   so 755 +100 = 855 + 70 = 925 - 420 = 505  for 10.5 th

or 4545 for 94.5 th  get some psus.

and the gear would just earn money till it all dies

@ 4% diff jumps  you would be ahead 763 in 154 days
@ 5% diff jumps you would be ahead  456 in 154 days
@ 6% diff jumps you would be ahead   170 in 154 days

@ 7% diff jumps you would be ahead   492 in 184 days 2670 in 1 year

I assume coin price of 6950

Agree, i would probably buy the L3+s but i would mine on a pool, get my capital investment back and sell the L3s.  At that point reasess and buy the most profitable asic at that time.  Wash rinse repeat.  Keeps you in the profit and with the latest most profitable gear out at that time.

[chandrarahmadewa]

imagine  you have free electricity  and you have 5k

in this prices and market situation

what is your plan than ?

buy new gpu or not?

my fantasy just for fun
I will not buy the GPU anymore, but I will rent electricity to the miners, invite to cooperate with the profit system. I will be campaigning on bitcointalk about free electricity. Maybe I can be a millionaire. lol