Mining with free electricity worth it?

[Anonymous No.55833001]

I'll move into a small 440 square feet / 42 square meter studio next month and I'll have free electricity there.

Thinking about buying an Antminer or some GPUs to mine some cryptos.

>Antminer S19 Pro
>costs $2500 right now
>mines $7.88/day (~318 days until amortization).

>NVIDIA RTX 3090
>costs about $850 right now
>mines $0.75/day (~1334 days until amortization).

So on paper the Antminer looks much better. I've seen videos of multiple Antminers in a room and they are obnoxiously loud. Would one be fine? Or does mining shit coins with GPUs make more sense? I don't need to sell them right away and can wait for a while.

[Anonymous No.55833037]

>>55833001
Read the agreement you signed to see if it's truly free electricity and expect to get evicted anyway eventually. This is a bad idea but you should still do it because I think it will be funny.

[Anonymous No.55833104]

>>55833037
Thanks for the bump, but I'm not worried about the electricity. A single antminer consumes about as much as an AC.
But ventilation, a socket that supports the large voltage and the noise sounds like it would be a problem.

[Anonymous No.55833263]

>>55833001
bump.

[Anonymous No.55833306]

>>55833001
>Mining
What year is this? 2017?

[Anonymous No.55833327]

>>55833001
This: >>55833306
OP, are you from the past?

[Anonymous No.55833368]

>>55833001
This will work for about a month. I guarantee the landlord will notice the bill increase and they will no longer provide free electric. Imagine paying hundreds/thousands of dollars a month for electricity that is not even offset by the rent you collect.

[Anonymous No.55833478]

>>55833104
Anon check out immersion tank cooling. Solves heat and noise problem

[Anonymous No.55834236]

>>55833001
youre a fucking retard

[Anonymous No.55834271]

Its crazy to me how /biz/ is so bullish on Bitcoin/Crypto, but at the same time /biz/ says mining is for retards, and that you should just buy Bitcoin instead. You're basing the returns on investment into mining gear and electricity costs at CURRENT prices, instead of long-term future returns.

Its insane to me how you can have such strong opposing beliefs. If you were truly bullish on Bitcoin like you guys all are, you would all be mining Bitcoin right now. The only reason you're not doing it is because deep down in your subconscious you're worried that you'll buy the mining equipment and pay for the electricity only for Bitcoin to tank down to 4 digits and stay there for 10 years.

[Anonymous No.55834359]

>>55834271
No, the only reason I'm not doing it is because I pay 0.37 united states dollars per kilowatt hour on AVERAGE. Peak times can be 2x. Maybe I'd see returns 3 bullruns from now.

You yanks don't know how good you have it sometimes.

[Anonymous No.55834403]

>>55833001

Make sure you tap into a circuit that's not part of your normal supply. That way it's harder to track down that you are the cause of the electric bill increase. Learn some electrician skills and put in a new tap in the wall if you need to.

[Anonymous No.55834470]

>>55833368
I think it would be around $200 tops unless he's in Europe or doesn't exhaust the heat outside but yeah the bill increase would be very noticeable.

[Anonymous No.55834515]

>>55833001
>Antminers in a room and they are obnoxiously loud. Would one be fine?
Even a single one is way too loud for an apartment. And then there's the problem of buying an ASIC, you either pay a massive markup or get scammed. Manufacturers only take big boy orders of $100k+. Don't do it anon, even with free elec.
>>55834271
Bitcoin mining has become completely industrialized. You can't mine Bitcoin in an apartment without getting noise complaints and losing your sanity from the 24/7 jet engine sound. Economies of scale has made mining very centralized and hobbyist mining is dead. Public companies are buying their own power plants or getting cheap industrial electricity contracts and massive multimillion bulk orders of ASICs get big discounts. It's just the natural way where Bitcoin mining has been going for years, and will keep doing so. There will always be some left who do it for altruistic reasons (chain decentralization) but economically it's just not viable to mine anymore unless you have a few million+ in funding.

[Anonymous No.55834666]

>>55833001
No. End of. Any more time you spend thinking about it is time wasted.

[Anonymous No.55835098]

>>55833001
>free electricity
of course its profitable.
why are you even asking this?

[Anonymous No.55835131]

>>55835098
The hardware is not free. Even mining on a computer you already own is probably not worth the time investment but at least you won't lose money.

[Anonymous No.55835149]

>>55835131
why dont you get some strong cpu computer? you can mine monero with the cpu.
then you have a powerful pc when profitability drops off/you start paying electricity again.

[Anonymous No.55835906]

I feel like becoming a validator is better nowadays. Not as straining to the software itself, and certain chains like Kava pay out a hefty amount for the first month(s); Kava pays like $600 or $800 worth of $KAVA for the first month or something with more rewards scattered throughout if you stay. You'll need good bandwidth though.

[Anonymous No.55835927]

>>55834515
So complete centralization of BTC is the inevitable endgame? Good to know.

[Anonymous No.55835928]

>>55833001
I thought mining was supposed to be dead ever since ETH transitioned to PoS and that the only reason why GPU's are so expensive nowadays is because 1) NVidia is filled with jews and 2) they're using their cards for AI generated garbage.

Is there anything worth mining these days? I haven't been paying attention to the whole scene anyways so I've definitely been living under a rock when it comes to mining.

[Anonymous No.55835940]

>>55835927
Sadly true.
You can't really mine anymore unless you have the resources to store like all the miners yourself. Something like a warehouse so mining companies are the ones holding a monopoly on it (and China)

[Anonymous No.55835949]

>>55835906
what hardware does it need to become a validator? how does it do compared to becoming a validator for other chains?

[Anonymous No.55835953]

>>55835928
>tfw you missed out on mining ETH back when it was a viable investment

[Anonymous No.55835957]

>>55835940
I wonder if it would be possible to design a system were things like economies of scale are actually eliminated or even counter-productive. Where the decentralized, small scale player has the advantage.

[Anonymous No.55835962]

>>55834271
it's just a fact mining takes too long to return the investment on the hardware itself and actually turn a profit. only really really bullish people, the kind that believe btc will somehow make it to $80k in the next few years, are the ones mining today.

[Anonymous No.55835963]

>>55834271
I'd rather just get into cloud mining. Saves you all the hassle while giving you a profit but you need BTC above 30K for it to really pay off. Otherwise don't bother

[Anonymous No.55835981]

>>55835949
>What hardware do you need
The nVidia card OP talked about should do just fine... Half the price of that Antminer card, too. You'd also need 64GB of RAM or so though RAM sticks are extremely cheap compared to other components. And good bandwidth, but something entry level like 30mb/s should do just fine.

>How does it compare?
DOT and KAVA are the more generous chains when it comes to rewards.

[Anonymous No.55835986]

>>55835949

NTA, but I'm pretty sure becoming a validator requires a powerful CPU rather than a GPU, but it could vary depending on what chain you're validating for

[Anonymous No.55836001]

>>55835927
just rentoids complaining about their apartment life being oppressive and shitty, as per usual. pay no mind.

[Anonymous No.55836012]

>>55833306
I sure wish it were.

[Anonymous No.55836021]

>>55835906
>>55835981
thanks for the tip anon imma look into kava fo sho

>>55835963
>paying over half or more of the already meager returns
>then paying for the service itself
have fun getting 30 bucks out of it every month bro

[Anonymous No.55836331]

>>55835927
Pretty much yeah, halvings are hard coded to Bitcoin. Every 4 years the most inefficient miners have to close down their operations because mining with the new reduced block reward is not profitable for them. Bitcoin price going up softens this a bit but it can't keep doubling until infinity (retards like to think it can go 1000x above global GDP). Tx fees are a few % of mining rewards, all the rest is new issuance from block reward, so tx fees alone aren't nearly enough to incentivize enough miners. The sad endgame we're heading towards is after some halvings even the most efficient miners won't make enough profit to keep mining and at this point the $ profit of attacking Bitcoin will be higher than upkeeping it, and an attack will be massively easier to execute because of the massive hashrate centralization and low security of the chain. A few miners will collude to attack the chain and after the initial successful reorg upkeeping the hijack will become easier because no honest miner will receive any block rewards. After the first attack Bitcoin can be considered dead. We are still fine for few years / a decade but if no solution is found to stably increase fees 100x, or a change of consensus algo or issuance (hard fork), the chain is doomed and will not survive. Well, in the case of hardfork the original chain is still doomed but it wouldn't matter if people considered another fork the real Bitcoin.