| I will soon have access to an off grid solar house. Need recommendation on best bang for your buck mining rig. Posted: 09 Feb 2020 06:59 AM PST This small house is having solar installed, and it is a secondary home. The owner visits a couple times a year. The owner is concerned with not being able to use enough electricity from the solar panels. So, I'm brainstorming on ways to use up this unused electricity, his directions. What is the best bang for your buck on GPU or even CPU mining rigs. Initially, I'm considering one or two used gaming computers. I also have plenty of time if I wanted to build something myself. I will plan to buy on the used market. There is no 220 volt power, so an ASIC is probably out of the question, plus I don't know if an ASIC uses too much power at night when solar isn't available. But I'll probably test it out when the solar installation is complete. submitted by /u/RonTurkey [link] [comments] |
| What will be your biggest fears and risks to setup mining farm. Posted: 09 Feb 2020 06:07 AM PST  | https://preview.redd.it/1mc2ilhunwf41.jpg?width=1280&format=pjpg&auto=webp&s=e573bcad9aa13b87ec1a691496268dd1303b70c3 Crypto currency mining is fascinating topic. It is 21st century mining with computer hardware and software. Looking for blocks on the block-chain to be rewarded in crypto currency. To start crypto currency mining business or hobby you have to understand what kind of risks you might face. To start Bitcoin mining you will need and ASIC miner, which is basically bunch of CPUs. This kind of equipment might cost you a lot of capital, so it is a good thing to recognize the risks you might face. - In the early days in Bitcoin mining you could make some profit with your laptop CPU or GPU. These days are long gone, every year new more efficient hardware is been developed. Which makes older hardware obsolete for mining. Meaning that bad timing investment could potentially make your investment worthless.
- Hardware failure is very big thing to reduce mining risks. This hardware needs to be run 24/7 to gain the most optimal revenue from mining. Very often these devices/hardware do brake down, asic miners are the worse hardware comparing to GPU. Hashing board failure is common problem on them, which will need additional investment after 6 month from your purchase. If this would happen to your devices.
- The one of the hardest parts is not enough profits. Crypto currencies are extremely volatile, one day you could mine in profit the next day you might be at loss. If you are using latest hardware, most important to stay in the game and mine with profit. Is to have cheapest electric rate between all the other miners on network. Electric is everyone biggest OPEX cost, dont even think to start mining as a business large scale if your power costs is above 6-7c a kw/h. It might be profitable to mine with 20c per kw/h today but it might not be anymore tomorrow. Which means you will need to shutdown your mining farm.
- Legal risks . Crypto currency is still very new, and it has not been regulated very well. So you might face some kind of crypto currency ban in the country which might affect your mining operation.
- Hacking – Use crypto currency safe as possible. You know the good old saying not your keys not your coins. Don't keep your mined coins on exchange. And use only community trusted mining pools.
- And the last of the top 6 is the environmental risk. Choose mining location wisely. Mining hardware most likely will use a lot of power, this is why they will produce a lot of heat. And heat will affect your mining operation. Something like mining container could be an option.
Recognize your risks before starting a mining operation. Please comment down bellow with any more risks you might think it is worth to mention. VIDEO - https://www.youtube.com/watch?v=-eNuG04n2zI&feature=youtu.be
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