|
I admit I know VERY Little about this mining crap, but for the cost of what these mining setups cost, how much are these people recouping?
On top of the number of PSUs and GPUs needed, there are hubs, and wires, and there has to be a ton of power consumption, and heat generation, which probably means you need to have an AC unit for the entire room. I can only imagine that the startup cost for something like this to be in the near $50,000 range. There simply cannot be ANY way that people are mining anywhere close to that cost of startup, with recurring costs likely in the $1000 range each month. I am assuming that they are running a software like the one in Office Space, and collecting the Thousandths of a cent etc. that are lost in transaction. How many of these type of transactions actually take place? If they can recoup the cost of startup, there has to be something illegal going on. It seems like a truly dumb process, and to be honest, there has to be a better way to do this than using GPUs in Daisy Chains.
If what I said doesn't makes sense... it's because you don't want it to make sense.
|
|
whatever you make you basically lose to the electric company
https://pcpartpicker.com/user/pandaforest/saved/
- BEST possible gaming PC builds for the $$$ - |
|
Thats what I figured.
The only thing that I could see these used for, is anonymous banking transactions, and even then, you are breaking the law, by allowing money to be laundered. I have a BITCOIN... the actual coin. I bought it 10 years ago... It has a code on it, and I have no idea what the code even does. Could I be Rich? I don't think so. Also... No I'm not sharing a photo of the coin, or the code.
If what I said doesn't makes sense... it's because you don't want it to make sense.
|
|
premature tyrant posted...
whatever you make you basically lose to the electric company And what if I have solar panels?
Ooo eee, oo ah ah, ting tang, walla walla bing bang.
|
|
than your roi will be even more negative in the first years
https://pcpartpicker.com/user/pandaforest/saved/
- BEST possible gaming PC builds for the $$$ -
(edited 6 hours ago)quote
|
|
ApexMjolnir posted...
It has a code on it, and I have no idea what the code even does I'm pretty sure you use that code to put the bitcoin into your wallet. https://www.casascius.com/ And depending on if it's one actual bitcoin or (more likely) 0.000001 of a bitcoin, it might be worth $300 or might be worth 25 cents EDIT: I just looked and 1 bitcoin = $2709 right now. 0.0001 bitcoin would be worth 27 cents
http://steamsignature.com/profile/english/76561197969913402.png http://i.imgur.com/VHKOxqN.png
FC: 3325-5440-8407 Dream Code:5E00-0013-7C61
(edited 6 hours ago)quote
|
|
Mining is great. Made some money back in the day on it. Of course right now I feel like a total idiot for not staying with it.
The main issues were for me anyways...at .09 cents per kwh I was barely making money. You had to use AMD cards back then or you needed a dedicated mining setup. Of course now things have changed.
-President and CEO of my mind
|
|
I looked into this for a good week or two recently due to the bit coin craze.
What I found out was the same as others are saying here, you will be stupidly lucky to break even if you are mining bitcoin. ASIC miners are far more efficient with bit coins anyway Electrum and other alt coins may snag you some cash but then you are weighing your ROI on an extremely volatile market. Here is a chart for dogecoin: https://coinmarketcap.com/currencies/dogecoin/ If you zoom out to 1 year, you'll notice dogecoin was worth nearly nothing and it has now gone up exponentially. The fact that a joke currency is spiking up can mean one of two things: Cryptocurrency is a real thing and is here to stay We're in a massive correction soon (crash) My money is on #2.
(edited 6 hours ago)quote
|
|
Hold up, just how much money are we talking about here?
Ooo eee, oo ah ah, ting tang, walla walla bing bang.
|
|
Digital Storm posted...
Hold up, just how much money are we talking about here? To invest or how much you might make? Because right now you're better off buying and trading...but if you're gonna do that, penny stocks might actually be safer lol
(edited 6 hours ago)quote
|
|
Digital Storm posted...
Is your house fully solar? If so, you might make a bit, like 50-60 bucks a month off it, but that doesn't factor in wear and tear on your computer parts etc. Mining is a big thing right now, but it's not really that big of a deal compared to normal investing. You'd make more by just sinking all that money into real investments instead of paying for tons of computer hardware that won't hold it's price and paying for electricity. To get into mining now you'd need to drop thousands of dollars on GPU's alone. GPUs that would have cost like 150 bucks 4 months ago, and that will be completely worthless if the mining boom dies again |
|
I bought the coin in 2008 I believe. It is .999 pure copper, Bitcoin minted, etc, with a code on it that goes around the circumference, and a bunch of really neat micro imprints on it. It was really well minted.
If there is a value on the coin itself, I am putting that s*** on EBAY.
If what I said doesn't makes sense... it's because you don't want it to make sense.
|
|
ApexMjolnir posted...
If there is a value on the coin itself, I am putting that s*** on EBAY. I don't know man... someone could use the code, claim the code was already used before they got it, Ebay refunds their money, you get nothing (not even the physical coin back). OR you could see about redeeming the code to your own wallet, and then selling the bitcoin (not the physical one) for cash. I doubt the coin itself has much value other than the copper you say it's made with. Figure out how much it weighs and calculate the value from that. (looks like it's about $2.69 a pound)
http://steamsignature.com/profile/english/76561197969913402.png http://i.imgur.com/VHKOxqN.png
FC: 3325-5440-8407 Dream Code:5E00-0013-7C61 |
|
You won't make good money mining. You just need to buy ethereum now and reap the big profits in 3 years.
Currently Watching: Golden Girls Season 4, OitNB
|
|
TwoDat posted...
You won't make good money mining. You just need to buy ethereum now and reap the big profits in 3 years. Listen up kids: don't take any investing advice without a huge grain of salt. |
|
premature tyrant posted...
whatever you make you basically lose to the electric company You act everyone loses if there was no profit in. Mining wouldn't be this big in the first place. I pull in about $1700 a month because of solar. I sold it around when bitcoin is $2800. I made about $3100 instead. New miners is the ones that would face dangers of losing money also ruin it for gamers and miners. First of all the mining coins at difficulty too high and sell it daily. That hurt the miners. Buying tons of cards without planning. That hurt the almost everyone including manufacturers. If you want to blame is the new miners jumping in that is willing to buy GTX 1070 at $600 or $500 used. They ask stupid questions how to overclock or why my card burned out. 120% TDP at 24/7 is not making a lot of money. If you want to stable income go Washington state, or some bible belt state. In other countries is China, and India In fact China controls 72% of the hashrate of the world. Electric rates is about 3 cents kwh vs USA's avg 15 cents. People who is losing electricity wars is paying 50 cents or higher. Expect them to pull soon unless they hate money.
(edited 2 hours ago)quote
|
|
A co worker of mine has 3 gtx1070, 970 and 2 770 working. He don't mine bitcoin exclusively, he mine other coins and converts them to bitcoin on the market. He said he makes about $15 profit a day after power cost. It also helps the power company only charges him 50%.
[This message was FORCEFULLY deleted by a moderator or administrator]
|
|
live in china, rent out a warehouse, buy a metric ton of gpu, and go to town. that's how you make money mining.
People die when they are killed.
Among horse, Red Hare. Among men, Lu Bu. |
No comments:
Post a Comment