Mining at Home dying out

[EasyQuest]

I have a 50 AMP circuit upstairs (no basement or space downstairs) and the guy told me it is 100 amps so 80% is 80 amps max.

it is a tandem breaker because I have four spread 120v 20 amp circuits for my Litecoin miners and bitcoin miners

At the moment, my Litecoin side is pulling about 34 amps and bitcoin is about 11 amps so total is 45 amps. Now calculating 80% of 20 amps, it is 16 amps each giving me a safe total of 64 amps to work with.

leaving me about 19 amps to work with across four 20 amp circuit.

[actudoran]

just a quick thought ... with btc said to speed up to 1800 $ mark within 6 months, wouldn't it be just easier to buy BTC now ?

or has anyone compared cloud mining i.e. cex.io to say just buying btc or just buying available mining equipment below $1000 ?

cheers,
Al

[HarrisonS]

At this point, with the difficulty going out of control, it probably is a better investment to just buy BTC.

[klondike_bar]

just a quick thought ... with btc said to speed up to 1800 $ mark within 6 months, wouldn't it be just easier to buy BTC now ?

or has anyone compared cloud mining i.e. cex.io to say just buying btc or just buying available mining equipment below $1000 ?

cheers,
Al

cloud mining is a bad idea, unless your mining group is re-investing dividends. The best example of this is the 100TH mine which just passed 500TH (1GH per share) with a share price about half of that at CEX.io and the strong likelihood that hardware will continue to be added for the benefit of all shareholders.   https://picostocks.com/stocks/view/19

CEX.io is a jip - the only people making profit are those selling their overprices GHS to others. The second CEX implements fees (not far off, maybe another month or two?) the prices will drop massively.

TBH the only equipment worth buying right now might be the antminer systems, and even those are now overpriced at 4.25BTC
I bought an antminer at 4.75BTC and a second one at 4.25BTC and together they have returned almost 4.5BTC to my pocket. I expect to make about 12BTC on the 9BTC investment and keep some cool hardware. that said, they should not be selling for more than 3BTC each right now, but demand is clearly still much greater than supply.

[glendall]

Bitcoin mining has gone much more mainstream now. With the rising popularity, profits will continue to plummet.

This year, near the end, profits will go to just a few cents above break-even after paying power, and you'll only be able to mine and get ROI if you are paying at least less than 0.1 k/W.

That's sort of just the way it is. It's a race to the bottom now. Like wages that multinational corporations pay, they go over the globe finding the place to pay the least. There will always be someone willing to do it (anything, mining whatever) for less profit than you, so it will go down down down until it is not any less profit any you would not be able to mine.

Sorry you got on the boat so late, the great easy profits that once where for different periods are probably mostly gone after the next few months, and will not return.

short version: mining is popular now, so it's a race to the bottom, profits will fall much more.

[DrG]

Even worse for 110V with crappy wiring - no hope of running a Naptune

there's a 220V plug at electric dryer hookups and central ac units in US. I guess it will need additional wiring.

The second I interfere with the dryer by unplugging it my wife would give me an earful.

You need to improve at marriage. What the Hell's her problem, taking up $100s per year for no reason. Here you have the miners to dry and heat clothes, and she still wants to use a redundant machine specifically for drying instead of putting the clothes on a line? Wow, what an asshole.

Here you are, trying to cut down on electricity costs... YOU are the victim, my friend.

I wonder if BTC is split during divorce in states like CA.    Something to consider before playing the victim card 

Either way I doubt many in CA could mine at home anyways with my residential power now at $0.34 

[woutersteven]

With regards to SHA256 mining I agree for several reasons:

- As a result of the new generation of ASIC chips coming out, the difficulty will increase so much that current setups are not profitable anymore
- If people do expand, the residential power supply is going to become a major bottleneck. If not this generation of chips, it will be the next generation

With regards to Scrypt mining, I think people can mine at home throughout most of 2014. The first generation of Scrypt mining chips won't be spectacularly better or cheaper than GPU mining and the first generation won't come out until at least the beginning of Q2 in 2014.

[ceyre]

With regards to SHA256 mining I agree for several reasons:

- As a result of the new generation of ASIC chips coming out, the difficulty will increase so much that current setups are not profitable anymore
- If people do expand, the residential power supply is going to become a major bottleneck. If not this generation of chips, it will be the next generation

With regards to Scrypt mining, I think people can mine at home throughout most of 2014. The first generation of Scrypt mining chips won't be spectacularly better or cheaper than GPU mining and the first generation won't come out until at least the beginning of Q2 in 2014.

I think manufacturers will inevitably start designing chips that pander to home users though.  It's what demand requires and we all know that where there's demand, will come supply.

[sgbett]

KnC Neptune draw 2.2kW at the Wall

at least here in Europe we have a 16A/3k6W limit per phase and fuse,

UK is in Europe.  We have 30A per ring main, 13A per socket.   There is 100A single phase to everyone's houses here.

You could run two Neptunes per ring, and still have plenty of spare current for your normal stuff.  My house has two rings (it's a small 3-bed of 1100sqft).  So, I could run 4x Neptunes with plenty of power to spare.

Your information is inaccurate.

Yeah but the UK (and Ireland) are unique in having their own weird and wonderful domestic wiring - used nowhere else in the world. At least in the rest of Europe, thirty odd countries have managed to agree on a common standard.

BS7671 would suggest otherwise... but I'll take weird and wonderful over barely adequate any day

[ralree]

Get an electrician to put in an L6-30R, which will do 220V 30A (6KW or so).  It only costs a few hundred $.

[Dabs]

Maybe by that time, the power consumption may remain the same as now, within reach for home miners, but the hash rate would be a lot higher. So ... it might just extend a little bit more. Or we never know, the hash rate would keep getting faster and faster while the power requirements stay within 2000 watts.

[Thom]

That's a point. there's only so much concurrent power you can suck out of one house, and wiring and fusing configs lower that ceiling further. I can't use a washing machine, vacuum and microwave simultaneously on my ground floor without tripping a fuse.

Hopefully though this will make for a trend of making chips that are less power hungry per hash, rather than the current race of who can put the most chips into one machine without starting fires.

This is already in evidence when you lookit the tiny miners: Block Erupter USB and Antminer USB are the same size and power draw, with a considerable difference in hashpower.

[cdog]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

[mpattison]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

Unless you have a basement, right?

[Kluge]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

No way. Miners are providing Winter heat. I'm super-stingy about the thermostat which tends to lead to a lot of arguments, so it's keeping the house 6*F above what I'd have it at right now, and hotter during day time when the sun's helping out. I put a copy of CGRemote on her laptop. It's an extremely intuitive interface. Profit, heat, involvement.

[vapourminer]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

Unless you have a basement, right?

yup.

miners in the basement works for the wife and I

[actudoran]

I can see myself convincing the missus on condition that part of the profit will go towards a "common" interest. But got screwed by the avalon stuff and now have to check the group buy option. HAd the ideal location and all with 380 V power supply that holds a lot of amps too

ah well ... so ... cloud or group then huh ?

[ScaryHash]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

No way. Miners are providing Winter heat. I'm super-stingy about the thermostat which tends to lead to a lot of arguments, so it's keeping the house 6*F above what I'd have it at right now, and hotter during day time when the sun's helping out. I put a copy of CGRemote on her laptop. It's an extremely intuitive interface. Profit, heat, involvement.

+1

Now that's a good way to keep a marriage going.

Next, if BTC keeps gaining in popularity, you can stick a credit card with BTC in her ass, and send her out shopping, FTW.

[klondike_bar]

Exhaustive research has proven that mining and marriage dont mix, its like oil and water really, even if you put it in a blender it just gets messy

No way. Miners are providing Winter heat. I'm super-stingy about the thermostat which tends to lead to a lot of arguments, so it's keeping the house 6*F above what I'd have it at right now, and hotter during day time when the sun's helping out. I put a copy of CGRemote on her laptop. It's an extremely intuitive interface. Profit, heat, involvement.

+1

Now that's a good way to keep a marriage going.

Next, if BTC keeps gaining in popularity, you can stick a credit card with BTC in her ass, and send her out shopping, FTW.

does yours like to shove a fishing rod up your ass when she wants to to go out with the guys? weird kink