Any of y'all niggas do their own mining...

Do not mine BTC, those chinese have locked that shit down.

Mining Monero seems to be the best return for difficulty.

For BTC I guess you grab a few S9s as early as you can, you run those and regularly take back the FIAT - hardware is priced according to fiat so you need it later to buy more, if you want to take a 2nd bet on the price of BTC and just hodl it instead you can, but you're playing 2 games at once.

Anyway you then work out how to get machines even earlier next time, at that scale there won't really be anything you can do but preorder first public batch.

Since you're not paying for power you keep running all equipment until it fucking dies, but when the new gear comes out the difficulty launches so expect that old machines won't be very effective.

DO NOT buy any machines close to the end of their cycle, it is a race to ROI and take a profit before the difficulty bogs you down so hard you can never get out.

If this is the case the fucking heat and noise WILL be a problem. Also you need a fair whack of amperage, if you're restricted to household type circuits you won't be able to scale much at all. Running one machine is like running one electric heater ALL THE TIME.

>in college back in 2008
>free electric
>in computer department
>they throw out a bunch of old shit
>including some old xeon servers because 'they eat up too much electric'
>we take everything back to dorm and nigger rig it up to mine coins

You could still get BTC back then and it be worthwhile, then again, not really anything else to mine back in those days either

They have not locked it down, they pay for power, they pay fuckall but they still pay, free power competes. The big boys do get equipment ahead of time though, bitmains likely already using their new shit

Can confirm, basement is currently 80 degrees with the window open.

I got some money to invest and I see with 4 s9s i can get around 1.2 btc per month which is awesome given the +2k current price. They will pay themselves in a couple months. Plus if I mine shitcoins or if its possible to mine eth (not sure about that doe) then I'm going to lambo land in a couple years.

yeah it doesnt matter which one, i just realized with 4k i can get enough mining software for it to be profitable, i think the biggest problem for all is the electricity cost which i think i can bypass.

You also have to have somewhere to run it, they are noisy as a motherfucker. You cant really have it around a living space. Those antminers sound like aircraft.

Fag OP is in a dorm or a military fag

Not really, i live in a corrupt as fuxk xountry so take that as you will.

My family has a big ranch 10 kms out pf the city so i would put them there, i need to check if internet gets there though

And HOT.

Don't expect the room you put them in to be below 34c. Ever. Even in winter

>basically

Nothing is free, and you are probably looking that running a mining unit will cost $100+ a month and thats if your doing it right. It will generate alot of heat and noise.

The fact that you think you could get away with the electricity is laughable, you will probably get feds smash down the door thinking you have a grow on if you have several units, or an inspection from the electricity company which will show you are stealing/bypassing the meter.

You're making a lot of assumptions here. Especially over a few months timeframe

> btc difficulty doesn't change
> btc price doesn't fluctuate wildly
> 100% uptime

Take it from a former btc miner from the golden age of mining: you're really better off buying and holding value and effort wise since ASICs came along

I'll take it as you most likely live in a first world country and daddy didn't spank you enough and mommy never took her tit out of your mouth until you were left with a shit job where you realized you didn't matter that much. That or you're a North Korean.

Don't rely on those calculators, they can't predict the difficulty, all you can know is that it is a race and you need to ROI plus profit before the new shit is released. The difficulty WILL spike when the S9 drops

Yeah thats the one im buying, maybe 4 of them.
Meh, even if 4 s9 only make half a bitcoin per month thats enough for me, the money to invest is collecting dust anyway, and im not good enough to bet on shitcoins.

What about bandwith, how much do i need running 4 of these?

Bandwith is tiny.

Please help.

I live in a country where the electricity bill isn't more than 1$ per month, (just 3 persons, me and my parents). If I make ~$150 per month that will be very good. The questions is, Do I need a hardware of 1k-2k to mine any alt coin that can supply to me that amount of money? Does a hardware of $500-$700 work?

I live in a country where the electricity bill isn't more than 1$ per month, (just 3 persons, me and my parents). If I make ~$150 per month that will be very good. The questions is, Do I need a hardware of 1k-2k to mine any alt coin that can supply to me that amount of money?

You can set up a small mining operation with a single gpu, if you want to mine some altcoins. the only limitation is your hardware. you dont HAVE to set up 30k worth of gpu miners, if you only have a small amount of capital then just build a simple mining computer and get profit from that.

Half a month isn't how it works, halving month on month would be a more realistic assumption. You'll find out a lot when you start doing it, if you have free power it's probably worth a go though.

Budget for power supplies, switch, cables, and any electrical / internet work you will need done. You can't just run a bunch of these things off a powerstrip, you'll throw a switch or start a fire, each S9 will drink 1 - 1.5kw. You probably also need a way to remotely hard power cycle since you're off site.

What the fuck are these countries.

>I live in a country where the electricity bill isn't more than 1$ per month

How does that even work? You've got to be limited on exactly how much power you can consume per month or at least limited by maximum current right?

Yes, the problem is that right now my hardware sucks

Right now I have:
Intel Dual Core E2200
2GB RAM
150GB Memory
NVidia GeForce 8400GS

and I think that I need to buy some new components like... everything

Venezuela, you don't see my people posting on here because we are banned from Veeky Forums for being... beggars? (I don't know if that is the word)

We consume what any normal person in your country consume.
Yes, the services here are practically free, you can say that the state pays for it, but don't forget that our salary is 30$ per month. And that I have to try for 10 minutes to posting this. I don't wanna talk about this, we are very fucking bad.

If you can help me with the setup (for mining) that will be great

Google "ethereum mining rigs".

In your situation buy up used videcards.
Also remmember - Ethereum will switch to partial proof of stake and then full proof of stake eventually. So have an exit plan - either mining another coin, or selling the hardware to gamers/etc...

Also - obviously you'll be pool mining. Mining solo isnt gonna work.

I used to calculate the profitibility with asics back in 2013 and even then it didn't make sense. I don't think it makes sense now. You barely get your investment back until the difficulty hits hard. After that your production keeps divindling exponentially until you earn pennies in a month. In this process if btc price tanks then you're truly fucked.

I don't think that with the hardware mining 24/7 during a month it wont be give me back at least $200

>partial proof of stake and then full proof of stake eventually

Can you explain this, this is something I still don't quite get. So is it that you put up your ETH in order to use as a means of verifying transactions and then get a part of the transaction fees. Some people were saying that you can get 5% of your ETH stake every year. Is this true?

I'm the OP, shit nigga I have a 3 year old lenovo laptop i7 8 gigs and even I know it wouldnt make shit mining anywhere I guess which is why i have to invest.

I think it's a safer bet to mine my own coins than gambling with altcoins, you need to get lucky that way to make money.

so how many of this are needed to mine 1 btc per month?

I just bought 6 GTX 1060's and some other shit for like $1k. It should net 129Mh/s and pull like 2.4 ETH a month, likely a shitload more of a newer smaller coin if ETH goes tits-up

What would happen if they used one of these giant Chinese petaflop tier supercomputers to mine ?

Just out of curiosity.

>Mfw could've mined enough coins to make several millions out of fucking nothing but I didn't because I thought it was too hard
>TOO HARD
>IF I JUST READ A 5 MINUTE ARTICLE
>JUST

Damn, they know how to make that shit look cool, but I can imagine it's all about hiding their bad wiring setup

yeah but i guess some years ago getting the right equipment was expensive as fuck, now they sell those working out of the box and powerful enough.

>not simulating a universe which eventually mines bitcoin which you could use to steal millions of btc during the 2010 phase

I discovered Bitcoin in 2009 before it was worth anything. Did not mine because I was poor and didn't want to waste 20 EUR / month on my Pentium 4 mining a worthless digital currency

damn you could have your own island by now