Venezuela Free Electricity Mining 2018. GPU or ASICS

[Vminer2k18]

Hello, i am new to this forum and i appreciate your advise, i am from Venezuela and been for about 5-6 months studying the mining world but still have a lot to learn, this will be my first mining investment and i could really use your advise and expertise (BTW sorry if my English is not good enough)

Basically i have super low cost electricity in Venezuela and also i have an small warehouse i could use to set up my miners (no problem with loud sounds) i have been considering starting with one of this options and here is what i think so far.

1. Buying 12 antminers d3, they recently lowered the price to about $300, and start mining Dash or other X11 coins, studied a bit of dash difficulty chart and seems it has lowered recently so i dont think that it could get higher as it was months before as mining is not profitable for most people due to high electricity cost. My worry is that Dash price go so down it wont be profitable even with low electricity in the next 6-10 months i plan my ROI

2. Buying 5 antminer s9 for about 1000 each, and start mining Bitcoin or some other coins that have SHA-256 algo, my worry is that bitcoin difficulty just seems to go up and up, and if in 5-6 months difficulty doubles as it did before i may end up with a lot of time before i return my investment. also is probable that bitmain would realease a new antminer this year that mines bitcoin at much higher rate making it less profitable for me.

3.Setting up and 12 rx580 GPU mining rig, probably two 6GPU rigs, and start mining Ethereum and other coins, my worry is that as bitcoin will realease Antminer z9 mini and just released antminer e3 for ethereum as happened with X11 algo, difficulty will go up a lot for most profitable coins that are in the Equihash algo or the Ethash coins, if some of the Equihash coins fork to be asic resistant, they would have more gpu miners coming to them with higher difficulty, lowering profits.

If you were in my position what would you do, thanks in advance for your replies i really appreciate them very much.

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[johny78]

Im happy with my 1080ti's, since i dont have much place for rigs this is best option, best hashrates in 1rig, lot of algo's to mine (u will need research), longer roi tho... but with 0 power costs i wouldnt give a fk about roi, u will roi anyways
also got some radeons but as a hobby miner i prefer nvidia
about asic's are more plug n play, also since im a fan of gpu mining i dont recommend asic's ;]
I have been thinking about expanding but waiting for new gpu's
After u roi, u will expand, and you will get to the point when your small warehouse wont be enough for more rigs ;p so better buy something small but powerfull

[leowonderful]

If you're getting the D3s for $300 USD each, they're going to provide the best $/performance out of all the miners you listed- the S9 does better in terms of $/month on free power (D3- ~$100/mo, S9- ~$195/mo according to Nicehash), but it's not worth paying so much extra for a bit more performance when you can get 3 D3s for about the same price as a single S9 and make much more than just one S9. You're also going to make the fastest return on your money compared to everything else you listed getting the D3s- According to Nicehash, you're getting about $100 per month per miner, so you break even in ~3 months.

I would advise against getting GPUs right now the way things are going currently. FPGAs are running rampant and ASICs are actively being produced for just about every popular algo you can think of.

[sebas1382000]

I am also from Venezuela and I will tell you my case, I decided to diversify the investment. I have 6 RX 580, and also about 2 D3.

I tell you that the E3 is not an ASIC. It's just a disguised mining rig.

Anything you send me MP and we exchange some tips

[Vminer2k18]

If you're getting the D3s for $300 USD each, they're going to provide the best $/performance out of all the miners you listed- the S9 does better in terms of $/month on free power (D3- ~$100/mo, S9- ~$195/mo according to Nicehash), but it's not worth paying so much extra for a bit more performance when you can get 3 D3s for about the same price as a single S9 and make much more than just one S9. You're also going to make the fastest return on your money compared to everything else you listed getting the D3s- According to Nicehash, you're getting about $100 per month per miner, so you break even in ~3 months.

I would advise against getting GPUs right now the way things are going currently. FPGAs are running rampant and ASICs are actively being produced for just about every popular algo you can think of.

i understand what you say, and also think about the same way that d3 are most profitable of the 3 options, now what i would like to study is if atm profitability will be the same in 3-5 months from now, obviously no, but i have to decide which one may be most profitable in the long run.
What do you think?

I am also from Venezuela and I will tell you my case, I decided to diversify the investment. I have 6 RX 580, and also about 2 D3.

I tell you that the E3 is not an ASIC. It's just a disguised mining rig.

Anything you send me MP and we exchange some tips

How are the atminers d3 working for you? how much did you buy them for? i was looking at eastshore.xyz and seems good price and some people here have already bought from them

[edwardceng]

If you were in my position what would you do, thanks in advance for your replies i really appreciate them very much.

I don't choose all three, better I still observe the market situation and various problems about mining because it's impossible to invest into an uncertain situation for now.

In fact, I have a mining rig bought 2 or 1 year ago until now still mining but for now, I stopped buying new cards and didn't think to buy Antminer until the situation returned to normal.

[szafa]

Why you cant rent your warehouse?

[Amph]

gpu are far better you can mine anything, and you can mine new algo quickly, no need to wait for the new asic to come up thaat is tied with few algo, but i would wait until the next gen gpu, they will be available within few weeks, talking about nvidia...

[jmigdlc99]

Isn't it illegal or difficult to get caught mining in Venezuela?

Anyway, my opinion is that you go for the RX 580 mining rig. It's should be cheaper than the other options and still has resale value in the (unlikely) case crypto suddenly implodes. Although there are lots of new threats to GPU mining, I believe a single rig could still be viable when ASICs take over. You could use it to mine new coins or new algorithms and still turn a decent profit.

[edwardceng]

gpu are far better you can mine anything, and you can mine new algo quickly, no need to wait for the new asic to come up thaat is tied with few algo, but i would wait until the next gen gpu, they will be available within few weeks, talking about nvidia...

that's the point about GPU,

if @OP wants to choose option No.3 it could be a consideration why should choose GPU and why should "wait" (market situation).

[ay-x]

My personal opinion is GPU mining.
ASICs are products that the entire manufacturer exploits the pools and sells to end users at exorbitant prices. If an ASIC device is on the market, another device will follow it. The factory knows how to use it and exploit block prizes in the pool and sell them to us when they start the next version.

I do not think the GPU mining will ever end. There are many options every day. By following these options you can shorten the ROI time. Digging in the same coin constantly means that no debts are waiting for the return of money.

It's not so advanced that I'm looking for my English.

[vlad230]

I would also go for the GPU mining rig.

The reasoning behind this is that you won't be left with unusable door stoppers (talking about the ASICs) if they coin you're targeting will fork.
Another point would be that if you quit mining or find it unprofitable, you can always sell your GPUs to gamers.

[sebas1382000]

If you're getting the D3s for $300 USD each, they're going to provide the best $/performance out of all the miners you listed- the S9 does better in terms of $/month on free power (D3- ~$100/mo, S9- ~$195/mo according to Nicehash), but it's not worth paying so much extra for a bit more performance when you can get 3 D3s for about the same price as a single S9 and make much more than just one S9. You're also going to make the fastest return on your money compared to everything else you listed getting the D3s- According to Nicehash, you're getting about $100 per month per miner, so you break even in ~3 months.

I would advise against getting GPUs right now the way things are going currently. FPGAs are running rampant and ASICs are actively being produced for just about every popular algo you can think of.

i understand what you say, and also think about the same way that d3 are most profitable of the 3 options, now what i would like to study is if atm profitability will be the same in 3-5 months from now, obviously no, but i have to decide which one may be most profitable in the long run.
What do you think?

I am also from Venezuela and I will tell you my case, I decided to diversify the investment. I have 6 RX 580, and also about 2 D3.

I tell you that the E3 is not an ASIC. It's just a disguised mining rig.

Anything you send me MP and we exchange some tips

How are the atminers d3 working for you? how much did you buy them for? i was looking at eastshore.xyz and seems good price and some people here have already bought from them

I bought each one in 700, with power supply included

[Dr_Thrax]

"Free" in Venezuela´s Socialism of Century XXI, means that all services will colapse (actually this is occurring), energy is not  a exception, soon as you can imagine, there will be electricity shutdowns for many hours or a day, a couple of days, and increasing. Another factor is the poor quality of internet services, extreme low speeds, that national company of internet CANTV will never upgrade, and additional, there is also internet shutdowns, and the goverment eventually when they want can block the access to pools, exchanges or any site they want. The next factor that is included in "Free Electricity" is that the govenrment, political police called SEBIN and like FBI in America in Venezuela is called CICPC, these institutions are mainly highly corrupted and penetrated by gangs, that already know this activity is profitable and produce their favorite US$$, and they are following so close the steps of miners (little and big), traders, hardware sellers, in order to steal equipment, and comit kidnapping and extorsion.

Thus, call it "Free" in Venezuela, you may probably may have to do a better look at.