Bitcoin/Ethereum/Litecoin

I talked to someone with our PUD at a Realtor meeting today and they were talking about how the miners are maxing out the infrastructure and some houses are requesting 800 amp service and using all of it nearly 24 hours a day. Our current electricity rates are $0.045 per kWh which has been driving a lot of people to the region.
 
Cessnaflyer said:
I talked to someone with our PUD at a Realtor meeting today and they were talking about how the miners are maxing out the infrastructure and some houses are requesting 800 amp service and using all of it nearly 24 hours a day. Our current electricity rates are $0.045 per kWh which has been driving a lot of people to the region.
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What area of the country has $0.04 kWh? PSW?
 
Cessnaflyer said:
I talked to someone with our PUD at a Realtor meeting today and they were talking about how the miners are maxing out the infrastructure and some houses are requesting 800 amp service and using all of it nearly 24 hours a day. Our current electricity rates are $0.045 per kWh which has been driving a lot of people to the region.
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I really need to read how this works because very little of this post made any sense.
 
Roger Roger said:
I really need to read how this works because very little of this post made any sense.
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The data mining rigs used for bitcoin creation require copious amounts of electricity to run.

I know very little about this, but I've heard that a certain price point in the past, the cost of data mining wasn't worth it. Now, it's a different story, and the people doing this for a living are flocking to areas of the country with the cheapest electric bills.
 
When I saw this thread in July I dropped some money on Ethereium and Litecoin. At the moment I did a little better than doubled my money. Not a crazy gain but considering it was a big gamble, not too shabby!
Thanks @mrivc211 for the heads up!

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I’m genuinely curious now...given the growth it’s had, has anyone actually sold out, taken the money and run, or is everyone chasing the dragon and assuming it can only go up?
 
Roger Roger said:
I’m genuinely curious now...given the growth it’s had, has anyone actually sold out, taken the money and run, or is everyone chasing the dragon and assuming it can only go up?
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That's what I keep telling myself when I get pissed i've watched it just climb and climb. IF I would have bought in early I probably would have sold out 14,000 points ago.
 
mikecweb said:
That's what I keep telling myself when I get pissed i've watched it just climb and climb. IF I would have bought in early I probably would have sold out 14,000 points ago.
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"I'd have sold at a thousand, I'd have sold at a thousand, I'd have sold at a thousand ..."

I really need to stop checking on this thread.
 
Not sure how to search a thread with the new look here......
SO: TLDR
Anywho. I started looking at the possibility of starting a mining operation. Maybe with an asic device like antminer 9.0. If I can find one for less than 4K (Seems to be some gouging going on now) . Operational costs would be in the area of $200 a month for juice. Pool fees, transaction fees, etc, it could actually start to pay off, not sure exactly on the ROI, maybe a year? The data I looked at said so, with 4K/coin, now that it is nearing 5 times that, it may be sooner.

Nuts? I need a new hobby.

EDIT: Something like this: https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/
 
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