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Author Topic: Newbie question about mining  (Read 91 times)
miningquest
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September 25, 2019, 10:19:46 PM
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Hi, im totally new at this forum.

I have no previous experience with Cryptocurrency mining or exchange, but i know the basics of mining; and i know that the cost of energy is the big issue that can make you earn or lose money.

Becuse of my job, i must move to another city three month a year (minimum, i can ask for more months), this period i have a flat with all covered, i dont need to paid energy bill, so im wondering if buying a big mining machine is a good business.

But to know it i need to ask a question:
How much money could i made in a month with one Bitmain S17 Pro machine?? (considering that energy is free for me)

Thanks in advance
 
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Steamtyme
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September 25, 2019, 10:34:48 PM
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Don't buy a big new efficient miner for this for one it will make your apartment nearly inhabitable unless you spend some cash on soundproofing.
You could however look into some older smaller gear. S9's 841's 741's are all good in home miners if set up appropriately. Especially considering you don't have a plan to mine full time, you can save a lot on purchase price
Don't go crazy as a massive spike in consumption might end your free power with rent deal. Linking on mobile sucks so just google mining profitability calculator and you can compare earnings in different machines.

miningquest
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September 25, 2019, 10:47:08 PM
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Don't buy a big new efficient miner for this for one it will make your apartment nearly inhabitable unless you spend some cash on soundproofing.
You could however look into some older smaller gear. S9's 841's 741's are all good in home miners if set up appropriately. Especially considering you don't have a plan to mine full time, you can save a lot on purchase price
Don't go crazy as a massive spike in consumption might end your free power with rent deal. Linking on mobile sucks so just google mining profitability calculator and you can compare earnings in different machines.

Thank you for your reply, the free energy i get in the employee building is linked to big industrial network that feeds a complete refinery; so i think we can see this free power as "infinite" (at least for few mining machines purposes).

How much money you think i can earn in one month with these machines??
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September 26, 2019, 12:32:38 AM
Merited by Steamtyme (1)
 #4

1st read the 1st time/small miner reference. That will answer a lot of basic questions.

re: "free power"
Do be aware that all large miners are both VERY HOT and LOUD. For all intents and purposes they are very large heaters that convert all power fed into them into heat out. Only difference is that yes, depending your exact circumstances they will be very loud and hot heaters that pay you more that the electric costs. (in your case free). Considering that most of the new big miners take in over 2kw and many over 3kw think of them as giant space heaters.  Can you deal with the heat?

As for sound: Earsplitting is a good way to put it. Some do have a lower power mode that cuts it down but still are loud. Think a loud blow dryer or vacuum cleaner loud.

For bitcoin to succeed the community must police itself - Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats
How a miner mfgr SHOULD operate: HaggsFIN trip to Canaan My info useful? Donations welcome! 1Fuzzyk398kDWVjuC5qPX5v6CjSkvbgAbd
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
philipma1957
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September 26, 2019, 12:40:07 AM
Merited by Steamtyme (1)
 #5

1st read the 1st time/small miner reference. That will answer a lot of basic questions.

re: "free power"
Do be aware that all large miners are both VERY HOT and LOUD. For all intents and purposes they are very large heaters that convert all power fed into them into heat out. Only difference is that yes, depending your exact circumstances they will be very loud and hot heaters that pay you more that the electric costs. (in your case free). Considering that most of the new big miners take in over 2kw and many over 3kw think of them as giant space heaters.  Can you deal with the heat?

As for sound: Earsplitting is a good way to put it. Some do have a lower power mode that cuts it down but still are loud. Think a loud blow dryer or vacuum cleaner loud.

If he could find a whatsminer m10 set to low speed it will use 1200-1300 watts and mine at 20th

20 x 0.00002 x 30  btc   is one month of mining. I guess about 100 to 120 usd.

It will be okay for noise not terrible.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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