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Author Topic: New to mining - I have an edge, my power is free - scaling to 7 TH/s now  (Read 444 times)
bitcoinhost
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October 31, 2013, 04:22:27 PM
 #1

This is my first post,  they say it has to be "substantial".. ok here it goes

I've made a $54,000 investment into hardware, and now I'm starting to get my money back.   I have no cost for power so I do feel
I have a serious edge over other miners.  My power costs for the Asics I have, is already covered by other means.  Essentially I have
power just waiting to be used at no cost.

I'm now trying to get my account approved so I can PM some of the other users that will help me convert some of the Bitcoins I have
into Gold / Silver.


I will host your 4U Miner in my San Francisco Data Center
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tripppn
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October 31, 2013, 08:49:50 PM
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bitmit.net usually has silver up for auction for bitcoin.  Not much gold though. Sad

“You can't be a real country unless you have a beer and an airline - it helps if you have some kind of football team, or some nuclear weapons, but in the very least you need a beer.”
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odolvlobo
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October 31, 2013, 08:52:52 PM
 #3

You have no edge. Power costs for most miners are so low that it is not much of a factor.

I'm curious what hash rate you got for you $54,000. That will determine if you have an edge or not.

Buy bitcoins with cash from somebody near you: LocalBitcoins
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ThomasTheTrain
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October 31, 2013, 08:59:24 PM
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Just curious, what ASIC machinery are you mining with? When did you purchase the machinery, when did you receive it, and lastly when did you get everything up and running?

Like I said, just curious.
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October 31, 2013, 11:15:32 PM
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There are quite a few different shops that sell gold/silver for bitcoin... You've got to do your research
first though, because some of them are scammers, http://coinabul.com/ has a bad reputation.
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November 01, 2013, 02:26:06 AM
 #6

You have no edge. Power costs for most miners are so low that it is not much of a factor.

I'm curious what hash rate you got for you $54,000. That will determine if you have an edge or not.

$54k is total investment after all Asic orders coming in, the last order from Cointerra won't come in until mid January.
Currently spent around $36,000, not all units are online,  waiting for some PSU's as Butterfly's provided PSU's with their 60GH/s are a real fire hazard.. had one pop and smoke (not UL rated).
Projected Hash Rate in next week will be:  1,460,000 Mh/s

I think power costs would be significant for someone running Qty. 2 Jupiters, Qty. 6 60Gh/s Butterfly and one old Minirig

Minirig alone draws 17 amps of power.


I bought my gold from:
https://www.amagimetals.com   their website is excellent,  small hiccup using coinbase as a wallet but it worked fine

I will host your 4U Miner in my San Francisco Data Center
odolvlobo
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November 01, 2013, 06:12:31 AM
 #7

You have no edge. Power costs for most miners are so low that it is not much of a factor.

I'm curious what hash rate you got for you $54,000. That will determine if you have an edge or not.

$54k is total investment after all Asic orders coming in, the last order from Cointerra won't come in until mid January.
Currently spent around $36,000, not all units are online,  waiting for some PSU's as Butterfly's provided PSU's with their 60GH/s are a real fire hazard.. had one pop and smoke (not UL rated).
Projected Hash Rate in next week will be:  1,460,000 Mh/s

I think power costs would be significant for someone running Qty. 2 Jupiters, Qty. 6 60Gh/s Butterfly and one old Minirig

Minirig alone draws 17 amps of power.

17 amps is a lot, but rates are between $0.05 and $0.20 per kWH, depending on where you are, so the minirig costs are only $0.10 to $0.40 per hour. That's not much compared to how much it mines. Furthermore, the CoinTerra miners only consume 0.5 kW/TH/s and the 2 TH/s miner only costs $0.05 - $0.20 per hour in electricity.

Buy bitcoins with cash from somebody near you: LocalBitcoins
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bitcoinhost
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November 01, 2013, 06:14:42 AM
 #8

You have no edge. Power costs for most miners are so low that it is not much of a factor.

I'm curious what hash rate you got for you $54,000. That will determine if you have an edge or not.

$54k is total investment after all Asic orders coming in, the last order from Cointerra won't come in until mid January.
Currently spent around $36,000, not all units are online,  waiting for some PSU's as Butterfly's provided PSU's with their 60GH/s are a real fire hazard.. had one pop and smoke (not UL rated).
Projected Hash Rate in next week will be:  1,460,000 Mh/s

I think power costs would be significant for someone running Qty. 2 Jupiters, Qty. 6 60Gh/s Butterfly and one old Minirig

Minirig alone draws 17 amps of power.

17 amps is a lot, but rates are between $0.05 and $0.20 per kWH, depending on where you are, so the minirig costs are only $0.10 to $0.40 per hour. That's not much compared to how much it mines. Furthermore, the CoinTerra miners only consume 0.5 kW/TH/s and the 2 TH/s miner only costs $0.05 - $0.20 per hour in electricity.


What about cooling?  Unless you live some place that is cold weather.

I will host your 4U Miner in my San Francisco Data Center
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