Topic: Crypto feel good story: Texas kids make $32,000/month mining ethereum (Read 389 times)

Okay pretend you get all rtx a4000 at 1200 a card put them in a 12 card case from minerdude.
1 rig cost 12 x 12 = 14400 + 1200 for case = 15,600

10 cases are 156,000 about 10 x 12 x 57 = 6840 mh most cards ever paid was 15 cents an mh so .15 x 6840 = 1026 a day or

31806 a month pre power based on best day averagr which did not last 30 days in a row.

realistically  they earn 7 cents or   478 a day.


 power at 10 cents is 

1.7kwatts a rig or 17 kwatts for 10 rigs or 408 kwatts a day

that is 41 dollars a day or

478-41= 437 a day or  13,547 a month

so they need 24 cases of 12 cards that is 375000 up front.

the 24 pieces burn 41 kwatts an hour that is 200,000 btu of heat.

my garage with doors open and fans  moving air is 90f on a 10c day I burn 12kwatts an hour max on very cold days.

the father took loan to buy 96 rtx 3090 which is the most expensive one and resale value is the bad one in the future, congrats for them to make things right

but to early for the kids for managing this things and enter crypto sphere were to young

you are a bit rough hehe.

a lot of these noobs haven't done anything electrical wiring yet, assembling mining rig is just 1 part.

i have a mining site soon to go online where the entrance door have metal grills and the door will be stainless steel customized for strength/security.

this mining shit is no joke and people are just spreading bullshit like mining is a kids playground LOL. the site i've been working on is hidden, nobody(neighbors) should know and see anything 

Lol it's hard and dangerous for you but for some it's hubby and fun to build rigs, I've made back most of my investment on graphic cards and now it's free money, I made 100$ every freaking day so even if something unexpected happens I've made back my ROI, no risk no reward, we are all humans and we can never be on same path, period.

Reason where I live too many people fall for scams --> "get rich quick", I guess the media hypes bitcoin so much after it have gone up up and up and then after that sheeps want in then bitcoin starts going down down and then down, that is one way they lose money if they do the trades themselves, the other way is when those people give money to people to do crypto trades for them, most in the end get scammed. There were scammers promising 10% every month and people believed, in the end none of them got their money back, thieves scammed them all, time to time shows people losing money they have saved their entire life, I mean how somebody can believe 10% back every month from doing nothing? Anyway, I never tell to anybody what I do, too risky, better to keep it in secret. If I was a scammer I would have become a billionaire in few days, those people are willingly to give all their money they have, you dont actually need to do much to convince them crypto will go up forever hehe, thankgod I have principles, what is mine is mine, if I win is mine if I lose, I lose what was mine, too many evil people in the world and idiots who give their life savings so easily to somebody they dont even know, need to watch out.


I dont even bother, last time a friend came to ask about crypto, I said to him, I dont know anything about it, period.

Anyway, this 32k monthly is pure bs, like I said before, to get that much, need a huge installation plus a lot of money 600k usd minimum and a lot of dedication and work, if a short circuit happens, chances are high that all the hardware will be fried, mining is hard, dangerous and truly not worth the hassle.

here is one line you can use to repel nagging clueless social circle noobs who can't/won't/don't understand anything, blinded by get rich quick attempt with no brains behind any action/s taken/to be taken.

me: ..i was recommending it back then (2013), i got lucky but i'm out, yeah i made money but i have no idea where it is going, can be up or down or anything..i'm done with crypto and i have no more coins left.

Yeah there are a few people in my social circle that heard that I am in crypto. And every few months or so, usually during bull markets I get texts and calls about them wanting to join in and get involved.

It usually goes 1 or 2 ways.

First one is some guy who says they got like $10K and they want me to turn it into "only $100K" doing something crypto related. Like making 10x gains is something that is easily done.

Another is someone who wants to mine. They are mad that they can't use their Smartphone, Laptop or i3 desktop. They ask if they invest $1K in "crypto hardware" how long until their $1K investment becomes $100K?

Usually conversation ends in them thinking I am lying to them and keep it a secret to reap all the benefits or they discover that crypto might not be a "get rich quick" scheme.

The case in point is --> this article is extreme sensationalist, they know people will read because if a boy 14 and a girl 9 make 32k per month anybody can do and is easy, so people think this is easy money and they will get into it till they see the media lied to them, there are lots of lies that the media tell to people and then the people end up suffering because of their own greed and lack of researching about it, in 2018 was the same thing but this time they are much more aggressive.

So they started in March 2021 and made over $1000 mining on an old gaming computer? I don't see this adding up.

How much were old gaming GPUs putting out back then? I would say max $10/day. And this is at 30Mh/s. And this is only on the days when the fees were crazy high.

So I don't see how it could of made them over $1000 in a single month, unless they were hodl'ng all those ETHs and sold at $4.4K later in April.

Next week I have a feeling we will get alot of newbies joining the bitcointalk forum and ask "How can I make $1000/month mining on my old gaming computer?"?

I think they make these articles because it generates alot of views and they get lots of readers. However they really need to fact check their stories more accurately.

Imagine being a parent and having your 14 and 9 year old kids ask you for a 100k $ loan. I'd laugh and tell them to set up a lemonade stand or something

My children are the same age, they gouged out their tablets and phones, and when they entered the garage where my farms are, they almost damaged them. Maybe these are unique children, but I would not entrust the most expensive video card to a child of 14 years old.
I do not allow my children to mine farms, this is not safe for them.

This is so bullshit, you can't make $1,000 per month on an "old gaming PC", if you could, lots of gamers would be getting rich. $1,000 per month in mining revenue can be done on a multiple GPU rig with the latest gen cards, which would cost thousands of dollars to get. And the reinvestment is bullshit too, ETH mining doesn't have such a short ROI that you can grow expontnetially, a card takes 6-12 months of mining to return its cost. Something is very fishy with this article.

I did a review on those cases. they are really nice and cost over 1000 usd for a case.

they hold 12 slots

if they run 3090fe cards you can squeeze in 10 cards. they case would do around 1 gh hash.

they mention 9 billion which would be 9 cases.

it would earn 9000 x 7.7 cents a day

the plug n play cases would be 10k
the 90 x 3090 would be  135k

so 145k invested before power setup.

they would burn 🔥 2.9 say 3kwatts a case or 27kwatts an hour that is 20000 kwatts a month which matches .12 x 20,000 = 2400 in power.

you need a 400 amp 240 volt circuit box.

with 10 x 20 amp circuits for the gear.

sounds like the dad did this and used the kids for tax purposes.

Looking at basic numbers on whattomine it would take 200-225 RTX3070 to generate $32k usd a month.  This is at least 30kw, 30-40 6-card rigs, a lot of heat and infrastructure.  Good if the kids are getting their hands dirty a bit in running the operation at least a little, but this is parent's or a funded group's pet project.

This is all BS, these kids are well funded either from guidance or parents, I'm 33 years old and I can't even afford an ASIC miner yet, what are we? 5years old? C'mon all this is not so true

keep exposing them to crypto and they will forget becoming doctors and turn to degen-gambling, mentally deranged lazy pieces of shits.

i'm warning you LOL

Funny, they say how much they are earning but they have not said a word how much they have spent or are in debt and if they are not selling as they go then they will in the end lose almost all of it.

Anyway, even if they used 100k to buy those gpus and things, a 3070 has been around 2k usd, so in turn that is 45 gpus, 90%, and if we account other things 10%, I mean how 45 gpus doing 60 mhs each on eth 2700mhs makes 32k a month? Pure BS.

Here is the whattomine data https://whattomine.com/coins/151-eth-ethash?hr=2700.0&p=7200&fee=0.0&cost=0.1&hcost=100000.0&span_br=1h&span_d=24&commit=Calculate

100k will yield you today 5.8k usd monthly, 520 days to roi your money, so yes pure bs, a 3070 has been sold for 2k as far back as march/april 2021.

Basically for you to earn 32k per month you need at least 5 to 6 times that hashrate, meaning, spent 700k not 100k, bs after bs, dont know what they gain to spread such bullshit.

Not a really convincing story,especially since their father worked for Wall Street.There are a lot of other much better stories about crypto than this one.The sum of 32000 dollars a month is a big sum for any country in the world,including the richest country on earth like USA where they are residing so they have not started out at zero,that would make a success story,people starting with very little money and arriving to climb up to these levels.

Pure BS. They couldn't afford to buy bitcoin but they can afford overpriced mining equipment during
a supply shortage.

Come on people, think before posting this kind of crap.

Yeah, I think that too and not to mention that mining rigs and the GPUs used for it are expensive because of scalpers. It's not heart warming, more like a story of how a privileged family can make more money much faster than anyone else and get much more ahead in the curve.