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Author Topic: Solar powered mining from home.  (Read 4104 times)
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March 22, 2019, 01:00:47 AM
 #101

Bitcoin mining by Electricity now it's huge cost that's why a lot of people can't survive and power crisis increasing in the undeveloped countries. Which mining is too cheap between Solar mining and Hydro mining i have not enough knowledge to start that. If Hydro is generated by water i think it's low cost project for bitcoin mining and Solar mining is need a lot of equipment.

True. It is cheaper on paper, but at the end your initial and maintenance investments for the equipment will be on your bill, no longer on the electric company. This means that the only company that can help you is the one that helps you set up the hydro/solar equipment if they offer the customer support that is needed.

Another thing to get into account is the weather temperature, that simple thing alone can save you a lot of money on electricity.

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March 22, 2019, 01:16:25 AM
 #102

Is there a plug and play solar/wind powered Bitcoin mining equipment available for the non-technical person that connects with a reputable Bitcoin mining Pool?  If the Blockchain is distributed, then mining it and the rewards of mining should also be distributed.
Solar power plants can be useful for anything including mining bitcoin. but the biggest obstacle is where we live if we are in a mountainous area where sunlight is limited then the builder will not be optimal, both the power produced is not so great if to supply electricity for bitcoin mining I feel that it is not enough. so the solution is needed a lot of solar panels installed, and this is not practical for business.

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March 22, 2019, 01:31:38 AM
 #103

Is there a plug and play solar/wind powered Bitcoin mining equipment available for the non-technical person that connects with a reputable Bitcoin mining Pool?  If the Blockchain is distributed, then mining it and the rewards of mining should also be distributed.
Solar power plants can be useful for anything including mining bitcoin. but the biggest obstacle is where we live if we are in a mountainous area where sunlight is limited then the builder will not be optimal, both the power produced is not so great if to supply electricity for bitcoin mining I feel that it is not enough. so the solution is needed a lot of solar panels installed, and this is not practical for business.

How can you say that there is only a limited sunlight on mountainous area ?  This kind of area are actually the best for solar mining because they are open space and you can get a well ventelation so that your hardware wont overheat easily  .

 however mining wont still be profitable using the sun's power because it cannot give you a 100 percent max power in which the hardware needed to produce more hash rates  

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March 22, 2019, 04:12:15 AM
 #104

 .
however mining wont still be profitable using the sun's power because it cannot give you a 100 percent max power in which the hardware needed to produce more hash rates  
i had heard on reddit forum there was a person who build solar power for electricity source and he can cut 75% cost for electricity which mean this is might be profitable but indeed the main factor when build solar power is the price of it was pretty expensive but this is could be good solutions to the miners in the future they have to utilize nature energy

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March 22, 2019, 07:47:20 AM
 #105

In my opinion. Bitcoin prices are not determined by the amount of production costs or the cost of mining bitcoin. mining altcoin also costs a lot but the altcoin price is not directly proportional to the cost of production. the crypto price is determined by the number of requests so that the more limited the number of crypto, the more expensive the price will be.
 

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March 24, 2019, 02:00:41 PM
 #106

this has always been the challenge that miners do face because the cost of electricity  is very huge. this is why many people are discouraged from venturing into it and some already into it quit because they couldnt cope especially in countries where electricity supply is costly and not regular. solar power could really help to help to cut down this cost and make mining easier and sustainable .

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April 01, 2019, 11:05:52 AM
Last edit: April 01, 2019, 12:12:19 PM by DanilaBerezov
 #107

So at $18/day, that's a year of mining to pay off the solar which isn't bad since solar lasts about 10-15 years and if you keep moving up miner levels that works fine as long as the difficulty doesn't shoot up faster than the value of Bitcoin. You also have the worry that you might not be able to resell the miners.
You are leaving out some overhead (property costs, etc) but yeah, I could see this being at least sustainable and providing a reasonable profit if nothing goes wrong, but it isn't surefire free money. Initial capital investment is high, it requires a decent amount of work to set up and for you to be in the desert. If already in the desert, sure is worth it otherwise I'll be taking a pass. Do not forget about Aluminum pastes, that you will need while when servicing your solar panels.
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April 01, 2019, 11:17:52 AM
 #108

If you are trying to build yourself solar mining rigs you will end up been broke because to build a solar mining farm is very costly unless you are a very rich person and the profit won't be much either ways ,its not worth it to me

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April 01, 2019, 01:23:32 PM
 #109

I think this is not practical. You can save energy in doing mining. But do you think this is worth it? For me it is not worth it because it is not easy to install a solar power and this is more expensive rather than your monthly electric bill. I think the return of investment is too long period of time so I think this is not good to invest in solar power to perform mining.

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April 01, 2019, 01:24:14 PM
 #110

If you are trying to build yourself solar mining rigs you will end up been broke because to build a solar mining farm is very costly unless you are a very rich person and the profit won't be much either ways ,its not worth it to me

Not if you do it small. One miner, one panel, etc. It will pay off later, when everyone else quits mining because its too expensive to continue...

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April 01, 2019, 01:37:03 PM
 #111

If you are trying to build yourself solar mining rigs you will end up been broke because to build a solar mining farm is very costly unless you are a very rich person and the profit won't be much either ways ,its not worth it to me

Not if you do it small. One miner, one panel, etc. It will pay off later, when everyone else quits mining because its too expensive to continue...
But still in the middle east the solar panel are way too exspensive to buy and not to mention we need to hire peoples to install the panel. I already think about this in three year past and i still think it not worth the price unless bitcoin really going $100k for sure in the future. Then it will be worthy.

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April 01, 2019, 04:01:29 PM
 #112

The price of Bitcoin is largely determined by the cost to produce it. The cost of powering the mining is the main long-term cost factor. That is why most of the Bitcoin miners are in China where hydro power is cheap. If smaller solar powered equipment could be available and mining pools organized for them, then Nakamoto`s vision of each Bitcoin user being a Bitcoin miner will ensure that the Bitcoin Blockchain remains secure.  I would like to open this up for discussion.
Decentralization does not mean that each and every user must be a miner, solar powered mining on a small scale does not yield you anything and if you are looking for an industrial investment, then too the risks are higher owing to the long term scheme of things as new powerful mining machines are developed, so timing is everything when it comes to mining investments.

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April 01, 2019, 04:10:59 PM
 #113

I'm actually considering building a small mining farm powered with 100% solar energy, but I've got to research the costs of these panels and if there are any incentives from my government for producing and using green energy.

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April 01, 2019, 11:04:08 PM
 #114

I'm actually considering building a small mining farm powered with 100% solar energy, but I've got to research the costs of these panels and if there are any incentives from my government for producing and using green energy.
For me, I like the idea as you don't have to pay for the electric expenses, but even if I like this one, it's really hard for me
since in our country, its very expensive to set up a solar electricity. I tried this some time and inquired but I could not afford it, if they will only
offer it for an installment then it would be very helpful to me.

If times comes it will be affordable, maybe I'll try shifting with solar for my house electricity, then later for the mining.

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April 02, 2019, 02:41:12 AM
 #115

Not if you do it small. One miner, one panel, etc. It will pay off later, when everyone else quits mining because its too expensive to continue...
But still in the middle east the solar panel are way too exspensive to buy and not to mention we need to hire peoples to install the panel. I already think about this in three year past and i still think it not worth the price unless bitcoin really going $100k for sure in the future. Then it will be worthy.

How is a 100 USD panel and a 300 USD inverter expensive? When a single Asic miner is going for 800 or more? Unless you want to place them in a difficult place like a roof you are not willing to climb yourself, there really is no reason to hire people. Maybe an electrician for the grid tie inverter, but that's about it. I saw good online offers panels and inverter from India, surely you should be able to have those shipped there...

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April 02, 2019, 02:56:38 AM
 #116

The price of Bitcoin is largely determined by the cost to produce it. The cost of powering the mining is the main long-term cost factor. That is why most of the Bitcoin miners are in China where hydro power is cheap. If smaller solar powered equipment could be available and mining pools organized for them, then Nakamoto`s vision of each Bitcoin user being a Bitcoin miner will ensure that the Bitcoin Blockchain remains secure.  I would like to open this up for discussion.
I admit that I decided solar power is a must, atleast for myself, mining has interested me since always and I know I eventually will, I'm however not sure how solar power could cope in winter with the miners, hydro being a bit harder for us and wind turbines are pretty darn expensive, also, in the zone where I live even with enough space wind is at times too fast for them to be keept working.

On summer most probably is very mantainable to mine with the panels alone, also electricity can always be thought of, in my opinion getting the miners is the harder part since they ain't cheap.

Might take a few years till I can see how solar power really works.

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April 02, 2019, 06:27:53 AM
 #117

Power supply is a very important aspect in biycoin mining because the mining farm run on electricity and at that it operations always look for a favorable location such as China were the cost of electricity is low and there is always an alternative such of power supply.

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April 02, 2019, 06:34:48 AM
 #118

At least decades for ROI... Panels can be inexpensive but aiming for a sustainable profit, too much uncertainty on bitcoin itself considering the machines could be rendered useless in few years time

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April 02, 2019, 06:36:43 AM
 #119

The price of Bitcoin is largely determined by the cost to produce it. The cost of powering the mining is the main long-term cost factor. That is why most of the Bitcoin miners are in China where hydro power is cheap. If smaller solar powered equipment could be available and mining pools organized for them, then Nakamoto`s vision of each Bitcoin user being a Bitcoin miner will ensure that the Bitcoin Blockchain remains secure.  I would like to open this up for discussion.
I knew some people whos getting into this field since we sre tropical country its more efficient to use solar than regular electricity because its too expensive specially if you are mining cheaper coins

For me those from tropical countries or those from the sun full places will try to expand their participation in crypto activitIes by Mining using solar power

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April 02, 2019, 07:32:24 AM
 #120

it is true that mining costs are very influential, low costs will benefit miners, and if everyone can mine cheaply, it will be a very good thing.

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