a beginner wanting to start bitcoin mining

[FP91G]

Allow me to make a very bold statement

Bitcoin mining isn't going to work for any small-scale miner anymore, long gone are the days when you could grab a few miners and make a profit at home, mining isn't even profitable at large scale anymore, you need to be mega large to compete, or be in a very special case where you don't have to pay for electricity, aside from that --  everyone will lose money if you got money to invest in mining, it would be best if you buy the coin and HODL instead, in fact, Hodling outperformed mining even when mining at home was a thing, there were only a few cases of which mining outperformed Hodling, and since things have become what they are now, Holding will most certainly beat mining.

Anything buying mining gear after reading this post, please post your status so we can review them in 3 years and see what would have been the result.

Why do you think that mining is not profitable?
In my country there are places where electricity costs 2 cents, another miner's electricity costs $0.002.
https://bitcointalk.org/index.php?topic=5508149.msg64496339#msg64496339

If your electricity is more than 10 cents, then you only have one option, and that is HODL.

[mikeywith]

Why do you think that mining is not profitable?
In my country there are places where electricity costs 2 cents, another miner's electricity costs $0.002.
https://bitcointalk.org/index.php?topic=5508149.msg64496339#msg64496339

If your electricity is more than 10 cents, then you only have one option, and that is HODL.

how many miners can you run at that 2 cents price? 3 of them? all these unrealistically low prices are non-expandable and unsustainble, i am talking about a reasonable and legal mining business, not someone outsmarting/ cheating thier landlords.

if any place on planet earth had 2 cents power rate for actuall mining, the U.S farms with 5 cents would have gone under the water.

Furthermore, mining at home is difficult, the noise, the cooling, still, even with close to cheap power, in the long run Hodling beats mining, you still need to consider gear failire, maintance, cooling and infrastructure,  it is not just power rate.

[FP91G]

Why do you think that mining is not profitable?
In my country there are places where electricity costs 2 cents, another miner's electricity costs $0.002.
https://bitcointalk.org/index.php?topic=5508149.msg64496339#msg64496339

If your electricity is more than 10 cents, then you only have one option, and that is HODL.

how many miners can you run at that 2 cents price? 3 of them? all these unrealistically low prices are non-expandable and unsustainble, i am talking about a reasonable and legal mining business, not someone outsmarting/ cheating thier landlords.

if any place on planet earth had 2 cents power rate for actuall mining, the U.S farms with 5 cents would have gone under the water.

Furthermore, mining at home is difficult, the noise, the cooling, still, even with close to cheap power, in the long run Hodling beats mining, you still need to consider gear failire, maintance, cooling and infrastructure,  it is not just power rate.

And what makes you think the minimum price in the US is 5 cents? I've seen data that mining companies in Texas buy electricity cheaper.

In my country I will say that every miner uses as many Asics as he can if it is profitable.
I posted a picture with 1 asic on the balcony, and those who can do more, use several dozens of asics.

[mikeywith]

And what makes you think the minimum price in the US is 5 cents? I've seen data that mining companies in Texas buy electricity cheaper.

I did not say 5 cents is the minimum in the U.S, but sure thing 2 cents is, so if your country really had 2 cents power rate for anything "good scale" then it would have dominated the mining industry, but it is not, so where is the problem?

I posted a picture with 1 asic on the balcony, and those who can do more, use several dozens of asics.

I am not talking about a hobby miner who runs an old miner ont their balcony to generate 50 cents worth of profit a day, those things happen everywhere, I am talking about mining Bitcoin for a business, so tell me, that guy with 1 gear in their balcony, can they run 1MW worth of gear? if they can't and they are limited by the 60amp main breaker they have, then that's a different story.

[FP91G]

And what makes you think the minimum price in the US is 5 cents? I've seen data that mining companies in Texas buy electricity cheaper.

I did not say 5 cents is the minimum in the U.S, but sure thing 2 cents is, so if your country really had 2 cents power rate for anything "good scale" then it would have dominated the mining industry, but it is not, so where is the problem?

I posted a picture with 1 asic on the balcony, and those who can do more, use several dozens of asics.

I am not talking about a hobby miner who runs an old miner ont their balcony to generate 50 cents worth of profit a day, those things happen everywhere, I am talking about mining Bitcoin for a business, so tell me, that guy with 1 gear in their balcony, can they run 1MW worth of gear? if they can't and they are limited by the 60amp main breaker they have, then that's a different story.

You're being very formal about mining.
I work with what I have now, and my ability to mine is limited by power consumption and controllers of power companies that fight against mining.
In Russia, experts already call the capacity for mining 2.5 Gigawatts and in these capacities there are tariffs of 1 cent and 0.005 cents and even less if you have own  a hydroelectric power plant