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Author Topic: Questionnaire to help me start mining  (Read 309 times)
FP91G
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November 05, 2023, 01:58:54 PM
 #21

1. I am mining - S19Pro 110T. I do it as a form of DCA of non-KYC corn (and an willing to pay the premium for that), to participate as a miner and promote decentralization, and as a geeky hobby.
2. Send my hash to f2Pool. Considering Braiins Pool once I get BraiinsOS going. I prefer the constant and predictable stream of sats now model, so I use a pool as opposed to solo mine.
3. At home. I built a box to house it and it does a good job of keeping noise down. It’s 55db around 5ft away in the box. Exposed, the S19 screams at well over 75db. I have it tucked away in the basement and you don’t hear it elsewhere in the home. If you have a smaller space, the sound will always be there.
These things of course pump out mucho heat. I live in Canada and in fall, winter, spring it truly does help heat the home. In the summer, recommend finding a way to vent outside.
Electricity is $0.11ish - costs a little over $200 a month to run. The economics of mining are brutal and constantly changing. If you’re planning on selling what you mine, price volatility is a huge consideration. The difficulty continues to march higher and you’re also getting fewer sats for your hashing power over time.

I enjoy it though and it’s not really about running a ‘profit’. I’m just stacking sats.

At 11 cents per kilowatt, mining on such an ASIC is already a loss, or do you have more energy-efficient firmware?
If the calculator’s calculations are correct and the hashrate is constantly growing, then $200 a month will buy you more coins than you mine on your ASIC.
https://www.asicminervalue.com/miners/bitmain/antminer-s19-pro-110th
BB59
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November 06, 2023, 03:22:21 AM
 #22

Yup, not profitable at these prices.

I mine for a bunch of reasons: non-KYC sats, to be a participant as a miner and promote decentralization, as a hobby. 

Profitable or not, it’s money well spent for me.
Litzki1990
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November 08, 2023, 01:09:41 PM
 #23

After making all the preparations for Bitcoin mining, suddenly the price of electricity in our area almost doubled and at that time I did not move forward with the Bitcoin mining plan. At one point I was thinking of starting bitcoin mining using solar panels instead of electricity but winter came and again I couldn't find an area that has sunlight most of the time. Mainly because of these two reasons I haven't started Bitcoin mining yet but I have gathered enough knowledge about mining. If the price of electricity ever drops significantly I may decide to mine again.

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FP91G
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November 08, 2023, 06:05:24 PM
 #24

After making all the preparations for Bitcoin mining, suddenly the price of electricity in our area almost doubled and at that time I did not move forward with the Bitcoin mining plan. At one point I was thinking of starting bitcoin mining using solar panels instead of electricity but winter came and again I couldn't find an area that has sunlight most of the time. Mainly because of these two reasons I haven't started Bitcoin mining yet but I have gathered enough knowledge about mining. If the price of electricity ever drops significantly I may decide to mine again.
This is one of the worst surprises, but it is very strange that electricity prices suddenly double. But as a rule, electricity prices do not fall sharply, and your competitors will already be mining on new ASICs. It's good that you didn't spend money on mining ASICs.
apogio (OP)
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November 08, 2023, 07:45:21 PM
 #25

After making all the preparations for Bitcoin mining, suddenly the price of electricity in our area almost doubled and at that time I did not move forward with the Bitcoin mining plan.

That's the case in my country too. Electricity is too expensive at the moment. However I haven't made the preparations for bitcoin mining. I am very reluctant to do anything right now unfortunately.

FP91G
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November 09, 2023, 03:51:40 PM
 #26

After making all the preparations for Bitcoin mining, suddenly the price of electricity in our area almost doubled and at that time I did not move forward with the Bitcoin mining plan.

That's the case in my country too. Electricity is too expensive at the moment. However I haven't made the preparations for bitcoin mining. I am very reluctant to do anything right now unfortunately.
And there will not be cheap electricity for mining in all countries. In countries where cheap electricity for individuals will be used for mining, the legislation will become more severe and fines will increase.
Some miners in Russia still manage to use several ASICs in their house or apartment, or even 10 ASICs in the garage, but this is already very little competition.
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