bitcoin mining biz

wadau considering btc imepanda hivyo nadai ku set up a minning rig na niko na 700k.
swali ni na hii biz inaeza nukisha kitungu hapa vumbistan kweli? considering kplc na internet speed ni unreliable…
IT tech guyz nisaidieni na mawaidha tafadhali…

What is the math behind it?

Tuliconclude mining in 2017 isn’t profitable tafuta numerous threads hapa tumeongelea lakini kama unawes afford asic miner why not go for it?

Late bruh, check icos and you will be good.

With 700k, you can startup something that puts money in your pocket. Mining BTC wont cut it.
Just do the math on the hardware required, and the electricity the rig will consume. You will be lucky if you pay elec bills with whatever you mine.

If unaeza get illegal power connection then you are set to make some money

Gay comment

??

Unfortunately, even with free power, the hardware will still screw you. You need ASIC miners (which are thoroughly expensive) or GPU racks (avg of 40-50k for each).
As wheelz put it, do the math. here is a guide:

  1. What is your budget?
  2. Will you use ASIC, a powerful PC or GPU rack? What is the cost of each setup, availability of components etc
  3. Which coins are you mining? BTC,LTC,DOGE…
  4. What is the mining speed of your setup.? Kasome googoo

Research and make your move.

Just look for a good c++ programmer, he can fork bitcoin, create your own currency.
Market it had upate buyers. When they by money goes to you

came across this article its alittle bit old as per the btc prices but you can grasp something

buy an Antminer S9, which is one of the most advanced ASIC miners available today. It has a hash rate of 14 TH/S, or 14,000 GH/S. The price of Antminer S9 is $3,000 (note that this is the miner’s price on Bitmain’s website, so it will probably cost more if you buy it on eBay or other online markets). The electric power consumption of the Antminer S9 is 1370 Watts. We will consider a power cost of 0.12$/kWh which is the average power cost in the US. Currently, the block reward is 12.5 BTC, the mining difficulty is 1347001430558.6 and the bitcoin price is $11,015. We will use a pool fee of 2%, which is the average fee on most mining pools. After entering the aforementioned parameters into the calculator, we will get the following results:

https://www.deepdotweb.com/wp-content/uploads/2017/12/word-image-27.png

Wah…this is like throwing money down the drain.

i think it profitable if the price keeps rising mind you the prices per day as per the pic is around 5k perday

The profit for a year is around $9000 which translates to ksh 900k for the whole year and that is in the US where power is cheaper…take a moment and let that sink in.

i think you are wrong the price of btc is not constant and its upward moving so equating it on a yearly basis is wont hack as it rises per the hour

my two cents here, i think solar energy would come in handy minus the installation cost, even though i think elec in kenya aint all that expensive

mining btc is out of the question mayb try other coins

You can mine other coins(altcoins) and convert to bitcoin or just hold the coin

You can mine other coins(altcoins) and convert to bitcoin or just hold the coin.Am currently mining Ethereum and Zcash and they are profitable

unless you are joining a group that already mines my two cents

Do you use a mining rig ama a cpu?