Is starting mining today a good idea if electricity is free ?

[vg54dett]

Hello !
I'm new on the forum, and just discovering the mining.
I came here to ask questions because I saw some really interesting answers and contributions in recent post !
I know very little about mining for the moment.

Would you advice me ?
I'm going to move in a country where I won't pay for electricity for 2 years , and I will have a big empty room not used. (Internet is about 600ko/s.)
I could use something like 10 000 watts for what I want.

In our days, could I change this power in money by mining ?
If you think it's possible , could you help me in choosing the gears and strategy ? I will begin to learn all I need ASAP but somme experts opinions would be welcome to start !

I saw lot of used gears for sale, it could help.
From your advice, with todays informations, how much money is possible by day with 10 000watts of power?

Thank you very much.

[philipma1957]

what country?

what power 120 volt 240 volt



here is a thread with the same question.


https://bitcointalk.org/index.php?topic=971078.0

[Biitcoin]

Maybe you could tell us where this "heaven" is so we all move there . that would be good and yeah why not , just start mining you have nothing to lose

[philipma1957]

now as for what 10000 watts will earn

antminer s-5's use 600 watts for 1150 gh so 16 is the most you could use.

16 x 1150 = 18400 gh

[philipma1957]

now as for what 10000 watts will earn

antminer s-5's use 600 watts for 1150 gh so 16 is the most you could use.

16 x 1150 = 18400 gh

that will earn about 6800 to 8777 to 10500 usd in a year.


8% growth rate it will earn 6800

5% growth rate it will earn 8777

3% growth rate it will  earn 10500

of course you need 16 antminer s-5's and the psu's to run them and that will cost money

[MilesJohan]

You should definitely start mining at this stage. The halving is round an year away and no way you will be profitable.

[adaseb]

now as for what 10000 watts will earn

antminer s-5's use 600 watts for 1150 gh so 16 is the most you could use.

16 x 1150 = 18400 gh

that will earn about 6800 to 8777 to 10500 usd in a year.


8% growth rate it will earn 6800

5% growth rate it will earn 8777

3% growth rate it will  earn 10500

of course you need 16 antminer s-5's and the psu's to run them and that will cost money

So basically if he pays retail for the miners, he makes pretty much  nothing in the first year?

[mavericklm]

YES!

take the 2 left here https://bitcointalk.org/index.php?topic=960937.0
and the rest up to 10kw, you can go for this https://bitcointalk.org/index.php?topic=956048.0
use escrow
get yourself  2 or 3 dps2000bb with special board&cables from http://gekkoscience.com/products/IBM2K_board.html

or something like this!
i would prefer few bigger units so that i don't have too much wires and worries

[havecoch]

May I ask why will miners still mine after halving happens,as it will be really not profitable then ?

[vg54dett]

Thx all for the great answers !

Considering the price of the S5 or Spondoolies , it looks like it take about 1 years to pay the gears ,
and the second year profits begins but they are very vey small considering the difficulty growth ...
it's crazy , even with free electricity the deal is not worth the money !?

and what about others cryptocoins ?
if you were in my case, would you try something ?

[mavericklm]

i don't know how u make your calculation but here is mine with new sp31 and 5% diff growth:
252 days break even point, end of the year:  1.153btc

here is what u need for good calculations:
https://bitcoinwisdom.com/bitcoin/calculator

there are ppl mining with electricity above 0.1$/kw and u ask yourself if it is ok to mine with free electricity???  

[samsonn25]

now as for what 10000 watts will earn

antminer s-5's use 600 watts for 1150 gh so 16 is the most you could use.

16 x 1150 = 18400 gh

that will earn about 6800 to 8777 to 10500 usd in a year.


8% growth rate it will earn 6800

5% growth rate it will earn 8777

3% growth rate it will  earn 10500

of course you need 16 antminer s-5's and the psu's to run them and that will cost money

So basically if he pays retail for the miners, he makes pretty much  nothing in the first year?

And i expect difficulty  will  be between  80-120 billion  by  end of this  year.

[tss]

May I ask why will miners still mine after halving happens,as it will be really not profitable then ?

mining seems to never be profitable according to the members of this forum.  yet there's lots of people still doing it.  i guess they do it knowing they will take a loss.

[philipma1957]

May I ask why will miners still mine after halving happens,as it will be really not profitable then ?

mining seems to never be profitable according to the members of this forum.  yet there's lots of people still doing it.  i guess they do it knowing they will take a loss.

hey I think he should mine.  but he never really answered questions that matter.  what country and what power 120 or 240 volts.

If he is in Kuwait it is very hot and cooling is an issue.

If he has 240 volts he could order spondollies sp10's usd they run better on 240 volts


s-4's are cheap and make his  money back a bit quicker then 6 months.

http://zoomhash.com/products/antminer-s4-miner-2-0ths   has 2 th for 450 + shipping

 so 8 for  4400    

gives him 16th at  his power.  


at 5% he profits in less then 6 months



at   3% he profits faster



at 8% it takes a while longer



I only wish I had 10k free power for 2 years. 

[vg54dett]

May I ask why will miners still mine after halving happens,as it will be really not profitable then ?

mining seems to never be profitable according to the members of this forum.  yet there's lots of people still doing it.  i guess they do it knowing they will take a loss.

hey I think he should mine.  but he never really answered questions that matter.  what country and what power 120 or 240 volts.

If he is in Kuwait it is very hot and cooling is an issue.

If he has 240 volts he could order spondollies sp10's usd they run better on 240 volts


s-4's are cheap and make his  money back a bit quicker then 6 months.

http://zoomhash.com/products/antminer-s4-miner-2-0ths   has 2 th for 450 + shipping

 so 8 for  4400    

gives him 16th at  his power.  

Hi , and thank you again. Each answer helps me to understand better !
As a north Europe cold country, cooling will not be an issue. We instead will be glad to get some heaters !
It will be 220v

the link provided is very interesting but the seems to not sell outside the US.
Looking for the best deal in Europe for the moment to give a try !

[cryptocoiner]

Wow. If you have access to a free electricity you should be mining already. Just buy any new asic miner with good hash to price rstio and start it. It will pay off in less then a year for sure. And then give you a profit. Main thing in mining is a power consumption.

[philipma1957]

May I ask why will miners still mine after halving happens,as it will be really not profitable then ?

mining seems to never be profitable according to the members of this forum.  yet there's lots of people still doing it.  i guess they do it knowing they will take a loss.

hey I think he should mine.  but he never really answered questions that matter.  what country and what power 120 or 240 volts.

If he is in Kuwait it is very hot and cooling is an issue.

If he has 240 volts he could order spondollies sp10's usd they run better on 240 volts


s-4's are cheap and make his  money back a bit quicker then 6 months.

http://zoomhash.com/products/antminer-s4-miner-2-0ths   has 2 th for 450 + shipping

 so 8 for  4400    

gives him 16th at  his power.  

Hi , and thank you again. Each answer helps me to understand better !
As a north Europe cold country, cooling will not be an issue. We instead will be glad to get some heaters !
It will be 220v

the link provided is very interesting but the seems to not sell outside the US.
Looking for the best deal in Europe for the moment to give a try !

if you email zoomhash website he may ship to you.  I purchased a lot from him last year.   His deal is good for you because your power cost is free.

 The only other way to buy  could be from  spondoolies-tech   but   they have power efficient gear at a premium price.

http://www.spondoolies-tech.com/products/sp31-yukon-shipping-from-stock   4300 usd gets you  9.8th  yeah it uses less power but that is not what you need.

[vg54dett]

I will follow you advice and contact them !

I'm trying to find good local deal in used gears too.

[philipma1957]

I will follow you advice and contact them !

I'm trying to find good local deal in used gears too.

give him the link to this thread mention me as I have done more then 4000 usd  in purchases from him.

[vg54dett]

I noticed you are selling some of your miners.
If the price is more interesting for me than the zoomhash, do not hesitate to pm me.