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Author Topic: I have Free Electricity and think about mining  (Read 7343 times)
omarabid
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October 25, 2011, 09:29:01 PM
 #1

I rented a new flat, and the other day the owner told me that there is something with the Electricity watch that whatever power the old renter consumed he always get $2-$3/month bills. So I have been thinking about mining since I have an almost free electricity.

I want to know what kind of hardware I need and how much it'll cost. I'll be glad to mine if I could make $50 (pays my Internet bill) but trying (http://bitcoinx.com/profit/index.php) it seems like HardWare costs will not pay off any quickly.

Any suggestions that I can profit from this situation?
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AngelusWebDesign
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October 25, 2011, 09:41:34 PM
 #2

You ought to be ashamed of yourself.

If the landlord left his house unlocked, would you take advantage of that as well? Maybe help yourself to some valuables, maybe a bite to eat?

People like you make the world a worse place to live.
DeathAndTaxes
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October 25, 2011, 10:40:42 PM
 #3

With free electricity your goal should be the lowest price in $ per MH/s.

If it were me it would be entry level AMD board w/ 3 triple spaces PCIex16 slots, an AMD sempron, 2GB of cheapo ram, usb thumb drive running linux.  I would grab 3 used cards from ebay.  5870s or 5970s.  Pretty much nothing has a lower cost per MH.

Even still your are looking at 9 months payback for hardware so your need to be in it for the longhaul.  If your goal is simply to make easy fast money and not care about bitcoin those days are gone.
SMOKEU
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October 25, 2011, 10:45:09 PM
 #4

With the price of BTC you'd be better off growing some nice skunky buds and selling them by the ounce.
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October 25, 2011, 10:46:37 PM
 #5

With the price of BTC you'd be better off growing some nice skunky buds and selling them by the ounce.

With the current US labor market you would be better off running a kidnapping ring. 

Breaking news at 11.  Illegal activity tends to have higher profit margins.
omarabid
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October 26, 2011, 09:10:28 AM
 #6

You ought to be ashamed of yourself.

If the landlord left his house unlocked, would you take advantage of that as well? Maybe help yourself to some valuables, maybe a bite to eat?

People like you make the world a worse place to live.


I talked with the Landlore and he told me he has no intention to inform the Electricity provider about that. It's his responsibility and not mine. The bill is issued with his name.
digital
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October 26, 2011, 03:02:18 PM
 #7

6790's are pretty cheap, and the $/mhash ratio is one of the better ones too...

If I help you out: 17QatvSdciyv2zsdAbphDEUzST1S6x46c3
References (bitcointalk.org/index.php?topic=): 50051.20  50051.100  53668.0  53788.0  53571.0  53571.0  52212.0  50729.0  114804.0  115468  78106  69061  58572  54747
worldinacoin
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October 26, 2011, 03:04:01 PM
 #8

I find that 5970s will be much better and the going prices are getting cheap.
Fakeman
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October 28, 2011, 08:45:56 PM
 #9

You ought to be ashamed of yourself.

If the landlord left his house unlocked, would you take advantage of that as well? Maybe help yourself to some valuables, maybe a bite to eat?

How is that situation analogous in any way? Is talking a lot on a phone when you've paid for an "unlimited" plan the same thing as paying your bill with a stolen credit card? (It's not.)

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AngelusWebDesign
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October 28, 2011, 08:58:58 PM
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If you use $200 worth of electricity from the electric company, and only pay them $3, you're stealing. Period.

It's impossible to justify that.

Do you know who you're stealing from? Everyone else in your area who pays for electricity (which is everyone else).

The electric company doesn't have a huge margin. They don't get their electricity free from magic Tesla boxes or something. In fact, they usually charge you their wholesale cost, plus a percentaqe for "delivery" which -- guess what? -- goes to pay for their very real, very legitimate expenses in keeping the electric grid operational.

Some electric companies might make a BIT of "profit" (maybe 10%?) -- others are co-operatives which means they don't aim to make a profit per se -- they keep any "extra money" in the company to be used for the benefit of the members. Either way, to take electricity without paying even the wholesale cost of it is stealing, just like breaking into a building and taking something that doesn't belong to you.

AngelusWebDesign
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October 28, 2011, 09:02:01 PM
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You ought to be ashamed of yourself.

If the landlord left his house unlocked, would you take advantage of that as well? Maybe help yourself to some valuables, maybe a bite to eat?

How is that situation analogous in any way? Is talking a lot on a phone when you've paid for an "unlimited" plan the same thing as paying your bill with a stolen credit card? (It's not.)

Your pathetic rationalization is ridiculous.

If you've paid for an "unlimited" plan, of course you have the legal and moral right to be on the phone 24/7.
Did the OP say he paid for an "unlimited" electricity plan?

I rest my case.

This world is fast becoming a ####hole because of selfish people like the OP. It's all about "me, me, me".
Fakeman
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October 28, 2011, 09:15:59 PM
 #12

Your pathetic rationalization is ridiculous.
Funny, I was thinking the same thing about several of your statements.

Quote
If you've paid for an "unlimited" plan, of course you have the legal and moral right to be on the phone 24/7.
Did the OP say he paid for an "unlimited" electricity plan?

I rest my case.
The fact is he's paying for a service, whether he's overusing it is to some degree pretty subjective unless it's spelled out in their agreement or applicable law, which neither you or I know the full details of. I guess we can safely assume it's the same thing morally and legally as burglarizing the guy's house though, right?

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SgtSpike
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October 28, 2011, 09:27:40 PM
 #13

It's more like paying for a $0.50 candybar, then 20 more of them appear in your shopping basket on the way out the door and you keep them all.  Highly questionable from a moral standpoint, and I agree with Angelus that people like this make the world a worse place to live.
Fakeman
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October 28, 2011, 09:37:14 PM
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But if anything the person scamming the power company is the landlord. The tenant presumably pays much more than $3 to rent the place and apparently utilities are included in that. It's not really the responsibility of the tenant to ensure that the landlord is paying the proper amount to the power company, that's between the landlord and the company.

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SgtSpike
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October 28, 2011, 09:39:06 PM
 #15

But if anything the person scamming the power company is the landlord. The tenant presumably pays much more than $3 to rent the place and apparently utilities are included in that. It's not really the responsibility of the tenant to ensure that the landlord is paying the proper amount to the power company, that's between the landlord and the company.
It sounded like the tenant was the one who paid the bill, not the landlord.  Clearly, if the landlord is the one paying the bill, then he is the one held morally responsible for the fraud.
Fakeman
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October 28, 2011, 09:43:47 PM
 #16

He states in a later post that the bill is issued in the landlord's name.

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SgtSpike
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October 28, 2011, 10:31:37 PM
 #17

He states in a later post that the bill is issued in the landlord's name.
Ah, missed that.

Definitely a gray area then, morally, IMO.
AngelusWebDesign
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October 28, 2011, 10:36:10 PM
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I should point out that electric companies generally go after back-amounts owed, once they discover a problem. This makes sense, because, as I said, it's not like it's all free money to them. More like money they've already shelled out which they'd like to have back.

My own mother was being under-billed for about a year (apparently, the guy who was supposed to read the meter gave up very easily), then they hit her with a $500 bill in back-charges for the past year.

The same might happen to you or your landlord.
GamingG
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October 28, 2011, 10:37:40 PM
 #19

He states in a later post that the bill is issued in the landlord's name.
Ah, missed that.

Definitely a gray area then, morally, IMO.
Tenant use electricity.  Landlord buys electricity from the electric company at a negligibly-low rate that is obviously an error on someone's part.  Tenant is not only fully aware of this, but intends to exploit it to its fullest.

Either the tenant is knowing buying a stolen service from the landlord (a crime), or the landlord messed something up somewhere and has that apartment's electric running through the wrong meter or something.
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October 28, 2011, 10:38:27 PM
 #20

He states in a later post that the bill is issued in the landlord's name.
Ah, missed that.

Definitely a gray area then, morally, IMO.
Tenant use electricity.  Landlord buys electricity from the electric company at a negligibly-low rate that is obviously an error on someone's part.  Tenant is not only fully aware of this, but intends to exploit it to its fullest.

Either the tenant is knowing buying a stolen service from the landlord (a crime), or the landlord messed something up somewhere and has that apartment's electric running through the wrong meter or something.
I can agree with this.  Black and white again.  Tongue
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