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Mining with Free electric?

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So, I have the opportunity to have free electric for about 9 months. 

 

Is it possible to buy any mining equipment and pay it off fairly quickly in these 9 months? I don't want to spend a whole lot to start, but am interested in paying off the equipment and gaining some coins to keep and use for myself.

The Vinyl Decal guy.

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So, I have the opportunity to have free electric for about 9 months. 

 

Is it possible to buy any mining equipment and pay it off fairly quickly in these 9 months? I don't want to spend a whole lot to start, but am interested in paying off the equipment and gaining some coins to keep and use for myself.

 

I'd say don't even bother. Chances are for you to buy enough, you're talking at least 9 months just to break even... and that's if you get the miners at a steal.

The projects never end in my line of work.

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Mining is so overdone... don't even bother

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I'd say don't even bother. Chances are for you to buy enough, you're talking at least 9 months just to break even... and that's if you get the miners at a steal.

Wow 9 months just to potentially break even...

 

That's unfortunate :/

The Vinyl Decal guy.

Celestial-Uprising  A Work In-Progress

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Wow 9 months just to potentially break even...

 

That's unfortunate :/

You can mine F@H or BOINC points instead. Much more profitable, once you consider that it can prevent hundreds of dollars worth of mendical treatment.

Want to help researchers improve the lives on millions of people with just your computer? Then join World Community Grid distributed computing, and start helping the world to solve it's most difficult problems!

 

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So, I have the opportunity to have free electric for about 9 months. 

 

Is it possible to buy any mining equipment and pay it off fairly quickly in these 9 months? I don't want to spend a whole lot to start, but am interested in paying off the equipment and gaining some coins to keep and use for myself.

 

Join the folding community! I'm actually in the same boat as you. I get free electricity from the University which I use to fold. Much more rewarding, I guarantee it.

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if you already had the equipment that would be a no brainer

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So, I have the opportunity to have free electric for about 9 months. 

 

Is it possible to buy any mining equipment and pay it off fairly quickly in these 9 months? I don't want to spend a whole lot to start, but am interested in paying off the equipment and gaining some coins to keep and use for myself.

You're unlikely to make money if you don't already have gear.  The solves are simply too difficult as this point. 

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You can mine F@H or BOINC points instead. Much more profitable, once you consider that it can prevent hundreds of dollars worth of mendical treatment.

But it isn't profitable, they are charity.

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But it isn't profitable, they are charity.

 

Profitable to mankind in general.

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Profitable to mankind in general.

If by profitable you mean useful yes but if you mean yielding profit or financial gain then no it isn't.

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If by profitable you mean useful yes but if you mean yielding profit or financial gain then no it isn't.

Profitable if you get a disease one of them cures.

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Profitable if you get a disease one of them cures.

Nope you won't be making money of it, sure a cure may come but you will still have to pay for the cure and other shit.

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If by profitable you mean useful yes but if you mean yielding profit or financial gain then no it isn't.

Actually, there are some crazy enthusiast that pay you to run Boinc 24/7 under their account, so they can get more medals.

 

Although it's a bit hard to find those people....

Want to help researchers improve the lives on millions of people with just your computer? Then join World Community Grid distributed computing, and start helping the world to solve it's most difficult problems!

 

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Actually, there are some crazy enthusiast that pay you to run Boinc 24/7 under their account, so they can get more medals.

 

Although it's a bit hard to find those people....

So just because of that very very small % your going to say it's profitable ?? 

 

It isn't profitable.

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So just because of that very very small % your going to say it's profitable ?? 

 

It isn't profitable.

Considering that his power bill is 0, then he is able to profit. So that means it is profit-able (crap pun....)  :P

Want to help researchers improve the lives on millions of people with just your computer? Then join World Community Grid distributed computing, and start helping the world to solve it's most difficult problems!

 

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Why not setup a cheap computer and fold@home?

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...I feel you guys don't understand that  I can would like to buy a gpu or asic and basically pay it off while learning how to mine...

The Vinyl Decal guy.

Celestial-Uprising  A Work In-Progress

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One of the few feasible coins to mine, Ziftrcoin, is unique in that it has a 5 point algorithm that makes it difficult, and not worth it, to develop ASICS for it. You can easily mine 10 coins per day with just a couple of graphics cards. I would suggest looking into that one if you do decide to mine.

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...I feel you guys don't understand that  I can would like to buy a gpu or asic and basically pay it off while learning how to mine...

As we said, you are not going to get payoff. Simple as that. With luck, you'd break even, but as far as getting profit, it ain't happening.

 

As I said, you should try to Fold or Boinc instead. Essentially the same thing as learning how to mine, but much more important and much more helpful:

  1. As far as payoff, you won't get any direct money. But it give it some long years and you'll start getting the rewards back in the form of medical treatment for you / your family, for example, that would be worth a lot more than money could buy.
  2. As far as learning how to Fold / BOINC, let me tell you a story. It's happening with me right now. Thanks to all my knowledge about Boinc, I was able to create a project with it on my University's computing lab. I'll be the first research being done there; not only that, it'll add up as the obligatory Scientific Initiation (literal translation, correct me if it's called something else). All learning is good, but learning useful things is great instead.

Want to help researchers improve the lives on millions of people with just your computer? Then join World Community Grid distributed computing, and start helping the world to solve it's most difficult problems!

 

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...I feel you guys don't understand that  I can would like to buy a gpu or asic and basically pay it off while learning how to mine...

What they are saying is, that if you buy all the mining stuff, you might get back the money you paid for them in 9 months. Barely.

You wont get any profit in 9 months 

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Mining unless you already have the equitment is really not that effective. Unless you have access to a supercomputer to mine for a low price, you won't be making much money.

“When life gives you lemons, don’t make lemonade. Make life take the lemons back! Get mad! I don’t want your damn lemons, what the hell am I supposed to do with these? Demand to see life’s manager! Make life rue the day it thought it could give Cave Johnson lemons! Do you know who I am? I’m the man who’s gonna burn your house down! With the lemons! I’m gonna get my engineers to invent a combustible lemon that burns your house down!”

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What they are saying is, that if you buy all the mining stuff, you might get back the money you paid for them in 9 months. Barely.

You wont get any profit in 9 months 

So, the answer is actually possibly yes.

 

I'm not concerned with profit because the real reason I want to do this is to learn about it, but I don't feel like throwing money at it and never seeing that ever again either.

The Vinyl Decal guy.

Celestial-Uprising  A Work In-Progress

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So, the answer is actually possibly yes.

 

I'm not concerned with profit because the real reason I want to do this is to learn about it, but I don't feel like throwing money at it and never seeing that ever again either.

Possibly. Possibly.

So you are saying you don't want a profit, but don't want to sink money in it that you will never see again?

That's what we are saying. Just because you don't pay for your power, doesn't mean the miners are free. The miners cost money and you'll probably not get that money back in 9 months.

I don't know exactly how long it will take (it depends on how much money you throw at it)

"We're all in this together, might as well be friends" Tom, Toonami.

 

mini eLiXiVy: my open source 65% mechanical PCB, a build log, PCB anatomy and discussing open source licenses: https://linustechtips.com/topic/1366493-elixivy-a-65-mechanical-keyboard-build-log-pcb-anatomy-and-how-i-open-sourced-this-project/

 

mini_cardboard: a 4% keyboard build log and how keyboards work: https://linustechtips.com/topic/1328547-mini_cardboard-a-4-keyboard-build-log-and-how-keyboards-work/

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