Topic: Why do you small timers even bother? (Read 1552 times)

I admit I would like to see higher daily returns on mining, but I think it's fun, and I like the idea that my coins will be worth more some day. Similar to how people reminisce about the good old days when you could easily mine bitcoins, although I don't expect my altcoins to go up as much as bitcoin did, I still think I can pick up a few hundred alt-coins a day and they will be worth significantly more in 1 year.  I suppose it's not for everyone, but I enjoy it.

I have > 2000 GPU's in action right now

This post is sooo true, all you small time miner's should just pack up shop and shut down...spec mining is not worth doing at alll. Period. 

Like mining is a full time job if you have a few miners. You set it up and it runs. So you can perfectly work normally next to having a couple of rigs. And buy coins that you are not mining.

and not all is about money, you can have fun looking some new things up and learn about new interesting things.

I used to think ASICs were way better but I actually worked out that each one of my 8 gb rx580s gives me the equivalent earnings per day as 2 T/Hs of my bitmain ASICs. I'm small time I guess, but I want coins, and I don't want to pay cash for them. And I enjoy the selection process, reading about coins, selecting coins, targeting coins, and of course, mining coins. And HODLing coins, that too. And watching the prices of coins I have but have no intention of selling. And scouring the interwebs for gpu deals. Hell I guess I like pretty much all of it, even some of the stuff I bitch about sometimes.

Because I like the equity in my rigs if all goes to hell. If I buy coin, and all goes to hell, I'm left with nothing.

Some people mine because they like to tinker with machinery. Like a hobby. It's interesting.  Yeah, we can all go get jobs, cash our paychecks and buy coins.  Wow.  How interesting is that? Not very.

Mining is a project, and if you like to work on computers, it's cool.  It's also good experience for young people, because it's similar to building servers.  If you use Linux, you get to learn an operating system that lots of people don't know much about.

It's like saying to the small family farmer - "Why are you bothering to raise animals on your ten acres of land?  You could go get a job in a factory, make twice as much money and then go visit a petting zoo and visit animals. It sure seems pointless for you to raise your kids on this tiny farm when there's all these amazing companies that own millions of acres of land and feed millions of people. Companies like Monsanto.  Why bother, when there is Monsanto feeding all of us?"

You see how kind of dumb and lifeless this argument starts to sound?

i was looking for a name for my mining company and you just gave me a great one.  Small time mining LLC

Most of us "Small time miners" dont do this becourse we are chasing profits. Its an great complicated hobby to use our minds on. but fyi "small time miners" dont do it full time, atleast i dont. I got a regular job and if we count the last 3 years of "SMALL TIME MINING" ive made as much from mining as ive done from my daily job only due to HODL and smart investments.

2000 GPU is baller.   

asic = shit warranty

gpu = good warranty

most of my gear is now gpu due to asic warranty policy

How would you classify a 2000 GPU mine?

If you where a small miner 10 years ago , and mined only 100BTC with a few gpu's , and saved that 100 BTC , what's that 100 BTC worth today ?

If you where a small miner and mined a 100 ETH in 2013 easy with a few gpu's, and seaved that 100 ETH , what's that 100 ETH worth today ?

And there is to many examples like those above to write it down in this topic ...

Think this way , then you are going to understand why is worth mining as a hobby just with a few gpu and save those coins ...
its a kind of lottery , but you might can hit a jackpot If you already have a hardware why not using that hardware for mining ...
I think a lot of us started as a hobby miner ...

I have started mining with a r9 380 2Gb in 2016 around the eth hard-fork, I remember shitheads yelling around here "POS is gonna be here soon, mining is dead" .
The only regret that I have is that I traded most of the eth mined wayy too early for more gpus, still that's not a bad outcome

I bought bitcoin at $2200 and all my mining gear on credit cards.  I even borrowed half of my 401k to buy eth at $50. Nearly maxed out my credit cards

Lets say I have no regrets using credit or borrowing from 401k. .  And I am financially responsible and have a 800 plus credit score.

All is paid off and yes it was a risk at the time but looking back it was the best life changing move I've made.  If all went south I would still be okay but struggle a bit, so it was a risk i could afford to lose.

I however no longer recommend using credit card to buy coins since you pay cash advance fees on it now on top of coinbase fees etc.  No longer an option worth thinking about.

I would say someone is an idiot too is they bought coins with credit. I have never bought COINS with credit.

I have bought all my gear with credit and then paid off the credit because that's what financially responsible people do... So the 22 new GPUs and Mobos and PSUs I bought before the mad rush of GPUs and other equipment was well worth it. $10,000 total in gear and electrical services and already $7,000 is paid back. so the $3000 I still owe have 10 months to pay that off without interest and I am using the reward points from that purchase to go to the ocean for a week with my family in 2 weeks.

Most people are NOT financially responsible. that is why banks are not allowing people to buy crypto anymore with there CREDIT CARDS.

but then again, I'm sure everyone here who says people are idiots for using credit are probably the ones with horrible credit, or lack of financial knowledge. Not there fault though, in the USA, people don't want to teach people how to be financially responsible anymore. Schools do not teaches about how to use credit or banking services anymore and most people are left on there own to figure it out.

I am not an licensed financial advisor so I would never give someone specific advice for there situation, but I can show people a million ways to make credit work for you as long as you are responsible to pay it back.

Im a small farm and the amount of work that I have to do to consistently make money every month is freaking my boggling. Mining is here to stay. You dont have to start off big buy one and keep adding. Thats what I did. Btw i dont have a big farm

I really want to have a go a mining to better understand the concept. Fully understand that it's not going to be profitable, however it could work to mine newer coins that could increase in value.

Hint - the "big boys" were here long before YOU started mining.
If you know HOW to make your rigs efficient, and are located in an area with low-enough cost electric, you CAN compete with them - lower overhead for starters - even as a fairly small operation.

If you're a SMALL scale part-time miner, you don't HAVE overhead, or barely have any.

Buying parts to build GPU rigs with is not "highly speculative", as there will be SOME remaining value to the parts even if profitabilty collapses.
Buying COIN with a credit card would be "highly speculative".