Be a miner as a dayjob... - page 3. | Bitcointalksearch.org

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: fanatic26 on June 30, 2017, 06:11:33 PM

Quote from: adaseb on June 30, 2017, 03:40:05 AM

99% chance that its not going to be that profitable until Mid 2018, maybe till the end of the year however it might.

Let me put it to you this way

At the end of 2013, a Radeon R9 280X made about $10/day in Nov-Dec 2013. $7.50/day in Jan 2014. $5/day in Feb 2014. $2.5/day in March 2014, $1.50 in April 2014, in the summer of 2014, it made ~$1/day, at the end of 2014, it made $0.25/day.

Why? Because you are not the only one "thinking" of this idea and got money to throw around. You got competition.

Where exactly are you getting these numbers from? An R9 280x mining Ethereum TODAY on $0.10/kwh power makes $2 per day.

2013-2014

fanatic26

hero member

Activity: 756

Merit: 560

Quote from: adaseb on June 30, 2017, 03:40:05 AM

99% chance that its not going to be that profitable until Mid 2018, maybe till the end of the year however it might.

Let me put it to you this way

At the end of 2013, a Radeon R9 280X made about $10/day in Nov-Dec 2013. $7.50/day in Jan 2014. $5/day in Feb 2014. $2.5/day in March 2014, $1.50 in April 2014, in the summer of 2014, it made ~$1/day, at the end of 2014, it made $0.25/day.

Why? Because you are not the only one "thinking" of this idea and got money to throw around. You got competition.

Where exactly are you getting these numbers from? An R9 280x mining Ethereum TODAY on $0.10/kwh power makes $2 per day.

64dimensions

hero member

Activity: 578

Merit: 508

IMHO, of the various hats you have to wear, managing your GPU mix is the hardest.

BTCBusinessConsult

sr. member

Activity: 546

Merit: 250

Active Trading on EPIC5k and Spectre.Ai

Take the money you want to buy rigs with and buy HMQ, Stratis, and Veritaseum. Then some BTC and Eth to put in cold storage.

Come back next summer to 50000% returns.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: _javi_ on June 30, 2017, 01:56:31 PM

how would you power and cool down almost 1000 gpus??? rigs are not for "set and forget".. mantaining 120 rigs is QUITE a job

To be fair, thread title IS "be a miner as a dayjob".

I don't have 120 rigs - but I find that 20ish well-designed and built rigs aren't a HUGE pain to keep up with, and once I finish my recently-started "rationalization" effort it should be quite a bit easier.
I can see 120 taking a lot more than an hour/day though. 9-)

_javi_

hero member

Activity: 968

Merit: 624

Still a manic miner

Buying the stuff is the easiest part..

how would you power and cool down almost 1000 gpus??? rigs are not for "set and forget".. mantaining 120 rigs is QUITE a job

bkbirge

sr. member

Activity: 1197

Merit: 482

Quote from: Juggar on June 30, 2017, 01:27:30 PM

Guarantee you take at least a month from today to get the cards and the rigs set up.... what you're talking about is a huge gamble.

This. I'm a month and a half waiting for parts for a rig right now, from a supplier that was supposed to have the parts in stock. Unless you have a reliable supply with immediate access then calculate a month or 2 before being able to earn into your strategy.

Patatas

legendary

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Providing AI/ChatGpt Services - PM!

Quote from: Vaccinus on June 30, 2017, 03:14:38 AM

you can perfectly make a livign from minign with current profit, the profit is very high now, even with oen rig in a poor country you can already make a living, there are risk, but the value will increase more when bitcoin segwit will be activated

What are you even talking about ? You clearly have no idea what this thread is all about.You cannot make a living from mining bitcoins in today's difficulty level.

Quote from: bibyfok on June 30, 2017, 12:49:54 PM

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

-Those renting hash stuff is almost scam most of the times.The very large mining farms running individually are the ones making profit regardless.You stand no chance as a solo miner once the difficulty rises.

Juggar

member

Activity: 242

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Quote from: bibyfok on June 29, 2017, 11:47:56 PM

Hello guys,

I was wondering on something and need your input:
Let say you have 120*8GPU rigs (Big initial investment) -->1060/1070 you name it.

You would be almost sure to be able to mine the equivalent of 150$ a month/rig --> not talking about Eth, any altcoin.

With current hardware, do you think it would be sustainable to do at least 150$/day with a 8 GPU rig until at least mid 2018, with any altcoin?
Difficulty should not be a problem as the target is "only" to reach 150$ equivalent. Any possible way, switching currency, going NiceHash etc...

So it would be 120*150$= 18 000$/month

Thanks

Guarantee you take at least a month from today to get the cards and the rigs set up.... what you're talking about is a huge gamble.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: bibyfok on June 30, 2017, 12:49:54 PM

Thanks for all your replies.

@adaseb, were you mining different currencies or just one? The market was vastly different: If I look at exchange rate at this moment, most money did not exist or were extremely low :/

@target: a bank manager did not invest 300k€ in his own bank.

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

I was mining the most profitable currency at the time. Yes there is like 10x more market cap but there is also 10x more GPUs.

bibyfok

full member

Activity: 160

Merit: 100

Thanks for all your replies.

@adaseb, were you mining different currencies or just one? The market was vastly different: If I look at exchange rate at this moment, most money did not exist or were extremely low :/

@target: a bank manager did not invest 300k€ in his own bank.

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: bibyfok on June 30, 2017, 12:23:14 AM

Please take out of the equation cards supplies.
Initial invest 300K
If I put 120 rigs online -->Any algo -->150$/month
150*120= 18000$
300000/18000 = 17 months

I know the difficulty is rising that why I say 150$ (I make way more than that today on eth) and talking about any altcoin, even Nicehash.
Eth is ephemeral as PoS will come but there is many other coins...

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

99% chance that its not going to be that profitable until Mid 2018, maybe till the end of the year however it might.

Let me put it to you this way

At the end of 2013, a Radeon R9 280X made about $10/day in Nov-Dec 2013. $7.50/day in Jan 2014. $5/day in Feb 2014. $2.5/day in March 2014, $1.50 in April 2014, in the summer of 2014, it made ~$1/day, at the end of 2014, it made $0.25/day.

Why? Because you are not the only one "thinking" of this idea and got money to throw around. You got competition.

Vaccinus

sr. member

Activity: 406

Merit: 250

you can perfectly make a livign from minign with current profit, the profit is very high now, even with oen rig in a poor country you can already make a living, there are risk, but the value will increase more when bitcoin segwit will be activated

h311m4n

sr. member

Activity: 487

Merit: 266

Quote from: Coin++ on June 30, 2017, 02:47:55 AM

Strictly impossible.

It's not stricktly impossible. You could perfectly make a living out of mining if you're willing to take the risk to quit your current job for it. It's all about planing and knowing when to start/stop and understanding that all of this is still very volatile. For instance, I'm not entirely sure now is the right time to think about making this for a living. Too much uncertainty (ETH going to PoS, GPU shortage, too many people are mining. All this can't make you sure that you'll still have 18'000$/months in 3 months).

You just need to be really smart about all this. Also, mining is one aspect of the crypto, trading is another, and in contrary to mining, trading isn't for everyone (I personally am not a big fan of trading).

target

legendary

Activity: 2282

Merit: 1041

If its possible, people would have been investing their money on GPUs to mine ETH and ZEC. If I have the money to invest on GPUs I'd definitely be setting up mine at home and just lay around all my life but thats not possible wit hthe current GPUS, maybe if those supper computers are manufactured already.
18 000$/month Grin

A bank manager don't even earn that much a month.

Coin++

sr. member

Activity: 810

Merit: 444

Strictly impossible.

Pennywis3

full member

Activity: 327

Merit: 100

Quote from: bibyfok on June 30, 2017, 12:23:14 AM

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

Please, don't ask stupid questions noone has answer to, ok?

We can't see the future.

iamnewhere

full member

Activity: 168

Merit: 100

It's like gambling as you can make more money out of trading currencies than with mining them.

dbc23

sr. member

Activity: 1036

Merit: 311

Not terribly wise, it's a biiiig gamble.

bibyfok

full member

Activity: 160

Merit: 100

Please take out of the equation cards supplies.
Initial invest 300K
If I put 120 rigs online -->Any algo -->150$/month
150*120= 18000$
300000/18000 = 17 months

I know the difficulty is rising that why I say 150$ (I make way more than that today on eth) and talking about any altcoin, even Nicehash.
Eth is ephemeral as PoS will come but there is many other coins...

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

Topic: Be a miner as a dayjob... - page 3. (Read 4899 times)