Topic: Mining can't last long, too easy income to be true - page 2. (Read 563 times)

...and I think we're bound to look for another signature campaign

I just cannot see this "mining getting in crowds" happening. Whenever I talk about mining to anyone, they just see it like some kind of next level pyramid scheme .
The people just really don't want to put money in something they don't understand. An average human from a random street cannot figure out what to do if you give him/her components to build a fully operational 6 GPU mining rig.

Also, median pay is just too little in some countries to really save up/risk for mining rigs and also try to keep your family well fed.

Greetings from across the gulf, Estonia!

It's very easy to mine with 1 gpu

But how about 4 or more rigs? All risers, bios mod, overclocking

I spend a LOT of time to do this and is not that easy, I do everything to achieve the full potential of a rig

A non-tech guy can buy a RX 580 and achieve 26mhs while I do 30mhs, consumes less power etc

We are linked to the prices of all cryptos, imagine if we grow for years and achieve marketcap of 1 trillion....2 trillion....

We are generating the coins to sell to people
Can last 1 month or 1 year, 2 years, 5... Who knows?

You missed my point. I don't complain. Yet I do say this won't last too long.

-
Tigel

Who the fuck come on here bitching about the free passive income they make?

Be happy and allow the money printing machines to do their thing.

Is that northern lights affecting you?

With post like this more people will begin to cut down your margin. Make your money and be happy bro

There, I said it.

This statement is done based on my six month career on mining. Likely you might want to disagree..

Ok, let me state some things to support my view:

I am 47 years old male, with background of 30 years in IT. I live in Finland, I am working as a project manager and I bored to death to my job. I make ~62k€/year (4,7k€ /month), including bonus which is more or less free money. I have 160k€ mortage loan, which is basically what keeps me going to work on daily basis, there is not too much the job can offer me, to be honest. Because of the retarted taxation in Finland, I get  ~3k€ "at hand" out of my 4.7k€ monhly salary.

And now we have mining..
by so far I have invested ~10k€ to mining equipment, it boils down to 33 nVidia 1060 cards running 24/7. Currently they make me ~65usd/day, which is slightly more than 50€/day. Minus electricity that would make something around 45€/day, or 1350€/month. And these figures are not optimized..
 
The thing is that many people in Finland (and likely in other countries aswell) go to job on daily basis and get the 1350€ (or less) and are completely happy about it. I get that by investing 10k€, which is not an issue to me. I could save it from my normal income in few months. And now that I am mining and working i can invest more. And finally, after I have mined enough I can quit my shitty job. And there must be plenty of people who think similarly to me.

What I am trying to say is that mining at it's current state seems too easy. There will be more people getting in to the game and extra profit will go away. Sure some kind of dedication/understanding is needed, but it's just too good to be true. I mean, lease let me know any other industry in which payback time is below one year?

But maybe that's the reason behind the current GPU shortage.