Can I get money from mining? - page 3.

Geraldo

sr. member

Activity: 588

Merit: 272

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Quote from: kmil91712 on June 25, 2018, 10:25:50 PM

Nice to know it can be done most people say no. I will look into this.

Yeah, that depends on us. I'm not a speculate type, I calculated all of the possibility, I'm doing a lot of research before mining, I've never stayed on one coin for a long time, I've never held a coins (save it to the fiat as fast as I can) I spend all of my effort and time to do this. Wink

kmil91712

newbie

Activity: 70

Merit: 0

Personally, I keep buying mining stuff on this current situation. But it will differ if you are new to this mining world moreover you can't take any risk since you need to produce some profit as fast as you can at your conditions (as you said: need to support our daily family sustenance). But if you want it, I'm sure you can do it. Wink

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Nice to know it can be done most people say no. I will look into this.

SpceGhst

jr. member

Activity: 269

Merit: 4

I did some quick calculations for a friend earlier today and at current coin prices, for every dollar you spend on mining hardware (GPUs, mobos, risers, PSUs), you’ll make a dollar over the course of a year. That means it will take a year just to earn your initial investment back, excluding electricity. However, every year after that is profit on your investment, excluding maintenance and replacement parts. So, if you bought $50,000 of equipment today, after the first year, you be making $50,000 per year minus upkeep cost. But coin prices won’t stay constant. If price goes up, you make more money and pay off equipment faster, but prices could also go lower from here...

Geraldo

sr. member

Activity: 588

Merit: 272

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For the past few years, I lived from Crypto mining. So, I can say for sure, you can. But the problems is how experienced you are on this Crypto mining world (related to this current situation [as above advice])

Personally, I keep buying mining stuff on this current situation. But it will differ if you are new to this mining world moreover you can't take any risk since you need to produce some profit as fast as you can at your conditions (as you said: need to support our daily family sustenance). But if you want it, I'm sure you can do it. Wink

ltcsprite

full member

Activity: 269

Merit: 101

Better off selling stuff on Amazon FBA.

Bad time to be a miner right now.

ruthbabe

sr. member

Activity: 966

Merit: 275

Currently, I don't have a job as a retired person, so, I was wondering if mining can get me some money to support our family daily sustenance. Could you give me my best option, and what would be the cost of setting up mining rig? Thank you.

Topic: Can I get money from mining? - page 3. (Read 744 times)