Topic: Why do you small timers even bother? - page 4. (Read 1552 times)
Yeah, so, six cards running (2x 1050, 2x 1060, 1x 1070, 1x 1070ti), and even with prices not being as high as they were, I'm typically pulling about $250/month. That's Just GPU money. I don't even bother calculating what I bring in w/ my CPUs or POS mining. I work a decent paying desk job, and can actually watch my pools/exchanges while I'm there. I grew up in a, let's say, less than wealthy family. While this may not be everyone's experience, I'd still mine if I barely turned a profit based just on the fact that it's passive income.
Most small-timers have jobs or they wouldn't be able to survive. It's something fun to do while earning money without too much effort.
Were you under the impression that people here just built one rig and watched it all day, and didn't have a job? How would they have afforded to build a rig in the first place?
What a moron.
What a moron.
Dad's small loan of a million dollars
If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.
That is like me having 3 jobs at that point.
1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)
All this can be done and if you did it the right way (paying off each month).
That is like me having 3 jobs at that point.
1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)
All this can be done and if you did it the right way (paying off each month).
I agree with the other guy , your an idiot. Buying HIGHLY SPECULATIVE things with credit is extremely stupid and can leave you flat broke and in debt.
If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.
You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.
If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.
That is like me having 3 jobs at that point.
1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)
All this can be done and if you did it the right way (paying off each month).
That is like me having 3 jobs at that point.
1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)
All this can be done and if you did it the right way (paying off each month).
2015, My 2x7970 in crossfire bought used ~150$ each were mining 2 ETH/day
wich was something like 2$/day
So why not ?
wich was something like 2$/day
So why not ?
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
paying around 200$ electricity/ 12rx 580 rig/month, earning around 1000-1500$/ Rig/ Month....yeah completly worthless without big farm.
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..
Look how much this worth right now...
Ya but the point is you could of spent the time you used on mining to work other jobs or make more cash and buy way more than 2 litecoins a day back then. So it kind of makes mining pointless for small timers.
As others have said, small time mining is a subjective term, but anyone who has a mining rig that is earning a couple of dollars a day has 1 or 2 cards. Most certainly they are already working, independently wealthy, a student, homeless, or any other status. Yes the argument can be made that the time spent setting up your mining rig could be spent working somewhere else. Guess what though, after the time spent working equals the time the time spent building your rig, you need to either keep working to earn more, hope whatever you invested in rises, or SPEND MORE TIME reasearching the market so that you can trade your investment. Lets not forget the time you would have to spend looking for this job, and the freedom you would lose having to work a set schedule. With mining you dictate how much time you spend and when you spent it.
Also do not forget that almost all miners who have large operations more than likely started out small. Most things in life do not get large immediately.
B/c buying coins with credit card is too expensive now with cash advances fees now being added by mastercard/visa, So i can still buy gpus on credit cards, the miners avg cost buy in constantly, and not get charged for cash advance.
Were you under the impression that people here just built one rig and watched it all day, and didn't have a job? How would they have afforded to build a rig in the first place?
What a moron.
What a moron.
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..
Look how much this worth right now...
Ya but the point is you could of spent the time you used on mining to work other jobs or make more cash and buy way more than 2 litecoins a day back then. So it kind of makes mining pointless for small timers.
The "fun" and "learning" will be over soon.. I was like that too in the beginning.
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
You are absolutely right. I got ROI for my rig last year. I've decided to keep mining untill the miner dies.
I don't want to invest more money in crypto, so that's why I don't buy. Let us hope there's a future for bitcoin, and that it goes up in value soon.
The way I see it, people weren't buying and mining en masse before the market exploded. It will calm down once earnings fall back below the cost of electricity.
Your hobbyists will still be there, however at that point, I believe there would be better uses for their equipment rather than racking up huge electric bills on long bets.
Your hobbyists will still be there, however at that point, I believe there would be better uses for their equipment rather than racking up huge electric bills on long bets.
You can either look at mining as a hobby or a source of income as the primary driver.
I think even for a dollar or so a day it's a pretty fun hobby to mess around with, learn more about hardware, tech, and the crypto space in general.
I think even for a dollar or so a day it's a pretty fun hobby to mess around with, learn more about hardware, tech, and the crypto space in general.
I am a wannabe small timer, and I want to do it for the fun of learning something new.
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
I think most people just do it for fun, or possible for some people even very tiny profit of few usd can be good enough given the average salaries in the places they live. We shouldn't judge
Why not?
My two cards are making me around 100 USD a month. Thats a lot of money in this country.
My two cards are making me around 100 USD a month. Thats a lot of money in this country.
Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.
False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..
Look how much this worth right now...
That's the hope most miners have today in my opinion, sure it may be a dollar today but who knows what it may be a few months or years down the road, there still is a lot of new money yet to be introduced. Mining requires no work at all. You buy some gpu's and they work for you, how is that NOT enticing to some people?
Sure, some people aren't even pulling Ghz, but mining is still profitable and money is money.
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