* EDIT *How dare the below trolls call me a what they did??? They did not even do their due diligence! *https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=nikola%20tesla%20free%20energy
*EDIT* I honestly believe in Tesla and was not even aiming at investments... someone contacted me saying they too believe in tesla and wanted to invest in me. I told the person if he did really want to invest in me, I would repay through my website which has legitimate bitcoin ad revenue being generated if we somehow fail. My original intention however was not even to secure investments, but to get a conversation about tesla and the idea of magnetic energy devices mining for super cheap electricity as a POSSIBLITY. A lot of people believe in tesla these days. I do not deserve to be called such preposterous names when I have done my due diligence in research and they have not. I can link many testimonials of real people both video and facebook comments to my honesty as a person. PLEASE REMOVE THE MEAN COMMENT. or REMOVE THIS POST MODERATORS as I will not be associated with that word. It is wrong and I have too much heart in what I do to be labeled as such.*Everyone believes in windmills, which are almost always moving from wind, and dams from water...
Now hear me out - GRAVITY is ALWAYS flowing. You are always being pulled down to the earth. You cannot deny that.
And a long time ago, Nikola Tesla invented a magnetic resonator that can tap into the gravity flow and produce nearly 99.9999% free electricity - limitlessly. However, Thomas edison (who had more money) buried tesla's research in lieu of the more "profitable" alternating current. This is a widely accepted historical fact now and has been discussed more and more by historians, electricians and mechanics lately.
I have blueprints and tons of articles with evidence supporting my claim. The initial setup of such a device could cost more than I can imagine considering my inexperience as a mechanic. It could also be cheaper than I realize - I'm a gamer geek, not a mechanic.
But deep down I KNOW it will work. Who knows, maybe I can attract a team to work with.
The designs I have were sent to me from a friend in the UK.
I have faith, and based on another topic on these forums,
I will say that EVENTUALLY I might have less than 1¢ per kw/h mining!
Could be in 5 years, or longer... but I believe and I know I will never give up.
If anyone wants to debate this, bring it on!
I can answer most questions with links to articles as well as videos from my own personal library.
But I will spare you a super long post for now and see where the conversation goes. Cheers!
What Are Your Electricity Cost for Mining Bitcoins?
Please vote in the POLL.
I was keen to know what type of electricity costs people take into consideration when they mine.
If you are a homeowner you usually will find the cost per kW hour on your utility bill, and will need to add any Sales Tax if not included. The average US rate and which is used by most mining calculators is around 15c per kWh, and in the UK a bit more at 15p (24c).
There is a table showing a global electricity price comparison breakdown by country on Wikipedia:
http://en.wikipedia.org/wiki/Electricity_pricing Lucky people in Kuwait only pay 1c per kWh, while people in Solomon Islands paying up to 64 cents per kWh.
Anyone who thinks they are paying much less than their country's average and is unsure the reason why, should check their utility bill just in case they made a mistake with the decimal point, or other calculation error, and maybe they are not mining as economically as they thought.
Would be interesting to find if many people don't know their cost of electricity when mining, or the percentage of those mining for free.
It may help people when they plan future purchases of mining equipment to know what other people think they are paying.
As an example of how to calculate cost of mining you would start with the kWh (a kiloWatt hour) price from your utility bill. A kW is a thousand Watts, so if you had a Jalapeno running at 40W, this would equate to 40/1,000 = 0.04 kWh. If you were paying 15c per kWh your cost to run the Jalapeno would be 0.04 x 15 = 0.6c per hour or 0.6 x 24 hours = 14.4 cents per day. If the Jalapeno was putting out 7GH/s then it would pay you to run it as long as you could earn more than 14.4 cents per day i.e. as long as you are covering variable costs. This would be around mid-Feb 2014 assuming a $440 Bitcoin price, and difficulty levels appreciating at 32.4% (average of last 10 changes) per difficulty change. After that date you would lose money simply switching it on. This calculation does not take into account covering fixed costs or obtaining a Return on Investment (ROI) as this is another question entirely, and given that difficulty levels are presently appreciating faster than the Bitcoin price, a better result may be had by selling the equipment to someone with a lower or zero electricity cost.
Obviously the results are less meaningful than if they were part of a full questionnaire, but still may be useful for an understanding the world of mining.