Topic: Mining sustainable? (Read 142 times)
In case your not aware. Those altcoins you mentioned are not mined with BTC miners. GPU rigs mine those coins. Obviously difficulty and lower coin price are going to be your biggest factor in ROI. What miners are you looking at buying? You need to calculate the profit of one of those miners considering your hosting costs. Then be aware that every two weeks that will slightly decrease with BTC. The hope is the price rises to compensate. Then multiply that by however many your buying. Spending that kind of money you really need to sit down and figure every monthly cost plus your purchase price into the earnings of whatever machines your buying. Then you also need to pick a pool to mine on unless your going solo. Consider pools have fees and luck varies so will your earnings. Honestly ROI will be closer to a year depending on your costs and equipment. It’s a big risk like anything with this. Just make sure you’ve gone over it 3-4 times before writing that big check.
Hi all,
I'm new to the forum, however, not new to crypto investing. I've been approached by a close friend with an extremely good opportunity to purchase a huge amount of mining equipment and have it hosted through a new start up company (mining host company, not cloud).
I'm vaguely familiar with the basics of mining difficulty and the risks in price volatility of the coin you mine but I'm basically trying to look into the other risks involved with investing in mining equipment and paying to have them maintained.a
I am investing a 6 figure amount into these rigs and paying a fee (along with a small continuous mining percentage fee) to maintain the machines and switch to the most profitable coins (ethereum, zclassic, miners, bitcoin and a few more). Due to the exclusiveness of this deal (thanks to a close mate of mine) I'm able to score extremely good rates - recieving a 18-20% monthly return on my initial investment.
Im at the stage that I've made enough money in crypto to seriously consider retiring. This opportunity to have passive income on top with most definitely lead to my retirement BUT I have my doubts. Is this too good to be true to maintain this rate of returns for years? I have a well paid job with great opportunity and don't want to quit for something that lasts only 2 years.
I trust the legitimacy of the company 100% and there are contracts in place but what else can potentially drop the ROI rates over time?
Cheers all. Some pointers or advice would be excellent.
I'm new to the forum, however, not new to crypto investing. I've been approached by a close friend with an extremely good opportunity to purchase a huge amount of mining equipment and have it hosted through a new start up company (mining host company, not cloud).
I'm vaguely familiar with the basics of mining difficulty and the risks in price volatility of the coin you mine but I'm basically trying to look into the other risks involved with investing in mining equipment and paying to have them maintained.a
I am investing a 6 figure amount into these rigs and paying a fee (along with a small continuous mining percentage fee) to maintain the machines and switch to the most profitable coins (ethereum, zclassic, miners, bitcoin and a few more). Due to the exclusiveness of this deal (thanks to a close mate of mine) I'm able to score extremely good rates - recieving a 18-20% monthly return on my initial investment.
Im at the stage that I've made enough money in crypto to seriously consider retiring. This opportunity to have passive income on top with most definitely lead to my retirement BUT I have my doubts. Is this too good to be true to maintain this rate of returns for years? I have a well paid job with great opportunity and don't want to quit for something that lasts only 2 years.
I trust the legitimacy of the company 100% and there are contracts in place but what else can potentially drop the ROI rates over time?
Cheers all. Some pointers or advice would be excellent.
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