Topic: desperate situation (Read 2719 times)

Mine the new and booming altcoins. Bt the way did you said you have amd r9 as collateral

With that hardware you should be able to rent it or mine some new alt coins and make a quick buck.

I don't know why everybody is searching for a hole in my story.
But I have a need to set it right.

http://s7.directupload.net/images/140322/temp/emd32ww8.jpg

Vod:
I am no computer expert. Before my research about how to build a mining computer, I did nothing know about hardware.
Maybe I have done a bad research, but the MSI gpus are the most silent on the market I thought.

GBattaglia:
With no CPU cooler, the CPU is going too hot I think.

Using a CPU cooler in a mining rig to make it quieter is also a pretty big hole.

I find this to be a big hole in your story.  The R9 280X sounds like a jet engine under full load.

Sell off your hardware

Without some sort of collateral this is too risky no matter the interest rate.

I could pay 7-10% interest, if anyone want. 

Peter Lambert:
Yes I know now it was stupid but it looked so profitable the months before I started. Additionally I thought the Bitcoin thing is more and more growing. Of course I am searching a new job and looking for other things to get money. I know that I don't get my problem solved just because I am begging here like a dog. I think it doesn't hurt to ask.


GBattaglia:
1400€ investment. In the time of december-january I could do about 400€/month with 2100 KH/s.

My hardware:
3x Radeon R9 280X
be quiet! Dark Power Pro 1200W  (with the plan to add a fourth R9 280X in the next months)
MSI 990FXA-GD65
AMD Athlon II X2 270 Processor
Arctic Cooling Freezer 13
500gb HDD
4gb ram

I chose most of the equipment to have a silent computer because the miner stays in my bedroom.

Frankly parts of the story really don't add up, and I don't say this to be rude:

• You state that you are no longer making a profit because of the market being in a slump and it costs more in electricity than you mine.  Now there are some issues with this statement.  First off, you took a $2,000 loan expecting to be able to pay it back in four months.  If the market becoming roughly 50% less profitable is enough to cause you to no longer profit from mining, your profit margins due to power costs must have been rather thin.  Now running on thin profit margins is fine, but it wouldn't add up to being able to payback that loan within four months.

I imagine you built a GPU mining rig?  What hardware? 

Sucks to be you. Man up and tell your mom you lost her life savings. Remember the old advice: don't invest more than you can afford to lose. Bitcoin mining is always going to be a losing game in the long run, it was stupid of you to dump so much money into that. Go get another job and pay your mother back what you owe her.

Dear Community

I heard about Bitcoin in december and I noticed that it is possible to earn some money with altcoin-mining.

I am living with my mother together, who is working the whole day as a cleaning lady in a hotel to pay our bills and the university fee for me. She raised me alone and teached me that a school education is very important. She try to give me the opportunity which she didnt have.

So I am learning at university und working half-day to support her. I try to offer us a better life after my university degree.

I told everything my mother about bitcoin and that after 4 months the investment is paid back . She trusted me and decided to invest her whole savings (about 2000$) for this project.
I ordered in january the mining equipment which arrived at february.

In the first weeks I was earning some money. But after the Mt Gox scandal and the Dogecoin-halving i am losing money. The electricity bill is higher than my earnings.

The point is, I can't tell the truth my mom because she is too sensitive about such things. She was so glad about to hear that we get some extra earns.
My plan is now to wait until the profit-time comes back and pay her monthly with other money out.


I am desperate and don't know what to do now.
I decided to write this down and hope to get some help.

It would be lovely to lend me some BTC (which you DON'T(!) need at the moment) until the mining times get better.
I will pay back my debt every month back with all 100% from my earnings.


BTC Wallet: removed



Yours sincerely Cesahr.