SargeR33
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Activity: 112
Merit: 10
★Bitin.io★ - Instant Exchange
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January 19, 2015, 11:57:39 PM |
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It wouldn't be logical to spend $10000+ on a solar system if its only for mining. Our quarterly bills here are about $600. A good solar system can offset this and potentially pay for it self in a few years. Its an investment I wish I'd have done a long time ago but technology has improved and prices have halved.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Borisz
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January 20, 2015, 09:21:18 AM |
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20 kw per day is huge man. Hope you will create a topic on that. I want to see this.  Go SOLAR ftw! Solar is definitely the way to go if you can afford a $30,000 solar system. I’ve been looking into Proof of Stake altcoins like NXT.org. Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function. PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it. You might want to commit yourself for a few years down the line before you go about buying a solar system specially for mining. Wouldn't it be simpler and more economical to simply sell the electricity you generate from solar? If you invest into solar AND mining equipment, your mining income will have to cover the initial investment and running costs of both. I haven't done any calculations on this, but for me this implies a longer payback period. It's different ofc if you already have either of the 2 systems running. I'd personally do an analysis for myself about what's better? To invest 30K (today) into solar or buy electricity (today and in the future) for my miners for the same cost for x days/months/years. |
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rakesh1_90
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January 20, 2015, 01:00:37 PM |
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btc is dead.
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valkir
Legendary
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Activity: 1484
Merit: 1004
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January 20, 2015, 01:01:30 PM |
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btc is dead.
Why are you still here if BTC is dead ??  |
██ Please support sidehack with his new miner project Send to :
1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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valkir
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Activity: 1484
Merit: 1004
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January 20, 2015, 01:16:15 PM |
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Really nice to discuss with you. Full of nice points.
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██ Please support sidehack with his new miner project Send to :
1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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Xian01
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Activity: 1652
Merit: 1067
Christian Antkow
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January 21, 2015, 06:04:40 AM |
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bigj
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January 21, 2015, 09:57:58 AM |
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What is wrong with you guys? The Bitcoin has never been more alive. Just look at the zillion good things happening in the industry right now. Moreover, there is version 1.0 of the Bitcoin coming down the road, and then you will (finally) see how well Bitcoin is doing. Also, don't forget about it's temendous marketing advantage -- basically no one on earth has ever heard of the Litecoin or one of the other altcoins. Happy 2015!
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Bananana
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January 21, 2015, 01:25:52 PM |
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20 kw per day is huge man. Hope you will create a topic on that. I want to see this. Go SOLAR ftw! Solar is definitely the way to go if you can afford a $30,000 solar system. I’ve been looking into Proof of Stake altcoins like NXT.org. Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function. PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it. You might want to commit yourself for a few years down the line before you go about buying a solar system specially for mining. Wouldn't it be simpler and more economical to simply sell the electricity you generate from solar? If you invest into solar AND mining equipment, your mining income will have to cover the initial investment and running costs of both. I haven't done any calculations on this, but for me this implies a longer payback period. It's different ofc if you already have either of the 2 systems running. I'd personally do an analysis for myself about what's better? To invest 30K (today) into solar or buy electricity (today and in the future) for my miners for the same cost for x days/months/years. Strongly agree, based on my calculation, selling back the energy to the grid giving me more profit then mining, plus you don't need to pay for ASICs. |
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lolx
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Activity: 31
Merit: 0
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January 21, 2015, 04:02:47 PM |
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picolo
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January 23, 2015, 03:06:57 PM |
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Bitcoin Difficulty: 43,971,662,056 Estimated Next Difficulty: 42,480,731,132 (-3.39%) https://bitcoinwisdom.com/bitcoin/difficulty The difficulty is going down and the profits will go up as the bitcoin price is recovering! |
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theegle
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Activity: 71
Merit: 10
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January 23, 2015, 03:16:03 PM |
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Quite often (For me atleast) the highest profit I have made mining was when it was unprofitable at the time. For example back a hile ago I may have been able to mine maybe 0.1 a week on a small home operation with low ish starting costs but due to the price at the time it was not worthwhile. Now imagine if I had kept that going and maybe mate a couple bitcoin? If I sold at the right time $2k for a small gpu based rig.
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DoubleTrouble
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January 23, 2015, 03:17:55 PM |
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Quite often (For me atleast) the highest profit I have made mining was when it was unprofitable at the time. For example back a hile ago I may have been able to mine maybe 0.1 a week on a small home operation with low ish starting costs but due to the price at the time it was not worthwhile. Now imagine if I had kept that going and maybe mate a couple bitcoin? If I sold at the right time $2k for a small gpu based rig.
This! I used to mine altcoins in a sort of similar manner and could have mad a killing based of the price increases at the time. Especially in litecoin. |
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QuestionAuthority
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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January 23, 2015, 06:35:09 PM |
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I say we just shut the forum down for a day or two every week. It seems to work wonders for the price.
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michinzx
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January 24, 2015, 02:41:46 AM |
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prices are going back up a bit these last few days, looks like miners will come back
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siampumpkin
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January 27, 2015, 10:28:23 AM |
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Turned my S3 back on. Small profit or break even but plan on holding BTC so see how it goes.  |
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BIagkon
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Activity: 42
Merit: 0
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January 27, 2015, 10:34:38 AM |
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all of my S3 alive now back from the dead since price is up it will got a little profit  |
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Borisz
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January 28, 2015, 03:45:41 PM |
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If I was mining farm owner, I would shut down my farm if the price gets below X BTC, because I need to sell those BTC to cover my electricity cost in fiat, clear.
But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?
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Syke (OP)
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Activity: 3878
Merit: 1193
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January 29, 2015, 01:19:27 AM |
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But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?
My goal is to invest a set amount of fiat every month increasing my btc stash. I do that mining and buying. When mining becomes less productive than simply buying btc, the miners get turned off and I start buying instead. |
Buy & Hold
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Borisz
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January 29, 2015, 09:44:34 AM |
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But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?
My goal is to invest a set amount of fiat every month increasing my btc stash. I do that mining and buying. When mining becomes less productive than simply buying btc, the miners get turned off and I start buying instead. Ok, in this case I got it. Buy if its cheaper to buy. |
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