start slowly and ramp up. it's not as simple as $50k = x amount of mining rigs = x amount of profit. There are potential issues you'll have to overcome, with hardware, software, electric, physical location, crypto price volatility, and many others.
I will tell u my story...
Just made a ring with 4x 1070 ti of Zotac, the whole system did cost 2.485 euros.
Its card is giving average net profit of 3 euros per day.
The Index of return on equity is at 136%, that mean that for 1 euro u are getting back 1,36.
What you want to be sure is that nothing will go wild down in the next 4 months, (you can sell the hardware and reduce the losses).
For me it worth, but do it slowly.
1st invest 10.000
2nd invest 20.000
3rd invest 20.000
and go for GPU's because of the resell safety.
Just made a ring with 4x 1070 ti of Zotac, the whole system did cost 2.485 euros.
Its card is giving average net profit of 3 euros per day.
The Index of return on equity is at 136%, that mean that for 1 euro u are getting back 1,36.
What you want to be sure is that nothing will go wild down in the next 4 months, (you can sell the hardware and reduce the losses).
For me it worth, but do it slowly.
1st invest 10.000
2nd invest 20.000
3rd invest 20.000
and go for GPU's because of the resell safety.
I agree with you. As of now i'm running 10 gpu's that i've rather slowly acquired, and still working out the kinks. I'd like to get as much of the research done as possible on the software/hardware side first. Electric is another whole issue I will have to become versed on when switching to a massive scale.
Everytime you want to start mining please recognize, what is more profitable:
Mining a Coin or buying a coin...
the past told us, that mining isn't more profitable as HODL... but, nevertheless, nobody knows, whats comming in the future.
Mining a Coin or buying a coin...
the past told us, that mining isn't more profitable as HODL... but, nevertheless, nobody knows, whats comming in the future.
I agree that HODLing has proven to be more lucrative in the recent times. However, investing and or day trading can be a daunting task seeing your hard earned investments fluctuate vastly in value. If you don't get out at the right time you are screwed.
With mining I see several valuable key takeaways.
1) You have assets in very expensive computer hardware were anything catastrophic happen to the crypto market. Mind you their value would likely decrease in a catastrophic event, however there is still liquidity here.
2) You now have a hobby that has not only granted gainful employment, but is educating in various fields of useful knowledge you likely would have never sought to learn. For instance using linux.
3) With mining, you are earning coins that you may have not otherwise invested in, and that may eventually skyrocket like bitcoin has (sleepers).
4) Were anything to happen to the USD, you have an alternative source of currency.
As you said we don't know what the future holds. But I feel like mining is a safer alternative to investing in crypto for long term, with the potential of enormous gains still possible. Add to the fact that the opportunity I am facing is being spent with someone else's money, I can only see positives in going through with this.
I am interested on the move you will take just in case you pursue this and after a few months you get yourself nothing but a loss, mining is not always profitable as it should, what would be your next plan with it.
There basically is no next plan. If I were to set up a massive mining farm it would be for the long haul; as in years to come. The only time in which the mining farm were to stop would be if anything catastrophic were to happen to the crypto market, such as the U.S. banning them all together. If the market drops for 3 years consistently, this is expected in such a volatile environment and not enough to halt mining.
At roughly $850 per card, a $50,000 investment in GPU rigs would equate to roughly 50x1080 Ti's, including all other components and hardware to run the farm (rough estimate).
1st ... There is a word wide GPU shortage ... I dont think you can buy 1080Ti cards for 850$/cards ... those cards are way over a 1000$ without taxes ... and the limit is one-two card/customer right now , its not going to be easy to get that 50 cards
... as of today February 1 - 20182nd ... you still need racks , pdu's , surge protectors , network switches , wiring , cooling equimpent , framing , if you want to build a rigs with customer grade psu , those psus price are crazy high also , those psus price doubled in the past few months ... 400-1000$...
3rd ... If you building your business from someone else money, and risk your family future, based on what whattomine.com telling you , you are a idiot ( sorry ) , you going to be one of those members on the forum who is coming back and asking questions like : " WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TOLD ME ", none of those calculators dealing with difficulty increase ... there is a great reading for you HERE
4th ... If its not your money , go for it
I don't think a 50k investment justifies a move of your family or changing your day job, 50k is like 25 antminers if infrastructure is free, or say, 15-20 GPU rigs depending on the cards involved.
You can not get 25x S9 from $50k - as of today February 1 - 2018
Last time Bitmain was selling Antminers it was $2320 / S9 , you still need a psu , and pay for shipping ...
Shipping to USA from China for 20 x APV3++ psu with fedex is around 500-600$ + custom fees if you get any
Shipping to USA from China for 20 x S9 Antminer with fedex is around 1100-1200$ + custom fees if you get any
And you have to make sure you have 35KW available
and you can deal with the heat and noise So ... 20 x S9 going to cost you $2320x20=46400$ + 1200$ shipping + Psu $105x20=2100$ + shipping 600 Subtotal: 50300$
20x S9 13.5TH/s going to give you around 270TH/s...
1st Yes, there is a worldwide GPU shortage, and yes it is difficult to buy them right now. But you can actually find them if you know where to look. I just bought a 1080ti yesterday for $799 from newegg. And from what i've been told if you have a massive order of 50+ 1080ti GPUs you can call directly to a manufacturer and make a private order.
2nd This was included in my initial rough estimate of $50,000 along with the 50 GPUs. I'll remind you again that this is a rough estimate, and the farm we are planning is actually much larger than $50,000, I have just given this as a frame of reference.
3rd In my eyes I am not putting any risk into my family's future, only opportunity. I'll remind you again that it is not my money being spent here on this farm. While I will be the one overseeing its product, I also have another career that supports my needs. I understand that the calculators are misrepresentative of the future of the market as i've stated in my original post. Again, it is just used as a frame of reference since it appears to be the best tool for such.
I suppose what I am asking is what the general consensus of people think the crypto market will be in 5-10 years from now. Regardless, we are likely going through with the investment. Just seeking outside opinions on the overall health of the market into the future. Where are my HODLers?
