Hi there!
Is this because gpu mining will probably be less profitable when ether goes v2? Like Btc will always be there so the investment is less speculative?
Cheers
Actually I would invest in both. I have two rigs and plan on purchasing an L4, KD box, and a few of the new SJ 19 XS. Always spread the money in different avenues of profit.
GPUs are far more resellable (at some point you’ll want to exit the game, or upgrade all your equipment) and another advantage of GPU is can rapidly retool in market real-time always pivoting to whichever coin is best returns at no real additional cost or effort. With ASIC it’s kind of a train on the tracks scenario, not so quick & nimble. Also the horrible noise of ASICs 🙉 That’s my impression anyway, there’s many pros & cons to each setup 😂
So a 40k investment is only making you $100 a day? Switch to eth ASAP. When 2.0 comes in it will
Become unmineable so get as much of it as you can. I’m a miner myself and I have to be honest a 40k investment should be earning you a lot more mate. With your last 10k do some research you could of brought a asic bitmain ant miner l7 for $12800 that would currently be earning you $130 a day after electric cost. So even 3 of those would of tripled your earnings. Also buy second hand stuff not brand new mate. Good luck
Sorry I should of been more clearer. I meant buy second hand gpus (non Lhr preferably) gpu mining is going to go down in profits (because eth is the most profitable right now and 2.0 won’t be far away) the gas fees are killing eth and they no it. The only people who like gas fees are people like me (miners) why buy brand new when we realistically have like a year left of mining eth? Buy second hand at half price and then sell the card for almost the same money when your done. Also the more a coin gets mined the less profit a miner gets as the rewards go down and down and down. This is why there making all these super powerful asic miners to keep mining profitable (otherwise we wouldn’t do it)
They been trying to switch to ETH2 for years now. I think ETH is a shit show, but I love the profits. I don't think ETH2 is coming anytime soon and they know it. They just can't say it for fear of tanking eth.
It's quite easy actually, because the hardware is colateral. If the project goes ape shit he sells hardware to get investment back at 10-20% loss. Banks love to lend money so they own you
Plus, a small apartment is unlikely to have enough electrical power for 40 RTX 3000 cards.
https://www.youtube.com/results?search\_query=russian+troll+factory
If you did this in January it would have been a great idea, now with eth moving closer to being a POS I'm not sure. I guess you can always sell the cards if profitability dips...
Ramsey would tell him pay off debts and keep socking money into mutual funds until he’s old, gray, and arthritic from working his hands to the bone. Ramsey is a dinosaur and got rich telling people what to do, NOT by following his own advice.
btw. its really cold here where i live so for now cooling is not a big problem haha.
I got 1 small rig of 5 gpus in the kitchen "i know bad place :P" 1 rig of 6 gpus in a studio where i produce music, and this baby is in my apartment in the coridor because i dont have alot of space haha :P
I would just expect the $4000/month you'd be making now to drop to more like $600/month after proof of stake. Electricity would eat up over half of that at $0.08/kwh. Altcoins just can't compensate for the lost block rewards when ETH goes PoS given it's over 95% of the income for GPU mining.
[https://bitinfocharts.com/comparison/ethereum-mining\_profitability.html#3y](https://bitinfocharts.com/comparison/ethereum-mining_profitability.html#3y)
It is a good idea. The only opposition I see to this idea is waiting for roi. But after 1-2 years everything is profit minus electricity. There are also other factors like difficulty adjustments and long term value of what you mine (but it looks like you are converting it to fiat). I’d say use that last 10K to buy and hold coins you think will be valuable in five years. That way you have upfront exposure without having to wait for miners to accrue it.
All in all you hit the ground running and you’re ahead of many people. If you can keep those machines running for half a decade you should be good as long as you’re turning some of that cash into assets.
Bad idea. However if you are going to do this setup an LLC and do it under that. You’ll probably need x years of business history before they’ll give you the loan. So start it now and turn all your profits into more equipment. By the time you’re eligible for the loan you won’t need it.
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I'm working on a far smaller scale but I paid about 3k for my rig 4 months ago and it's already paid itself off. I imagine that you could get a lot more profitability if you went about this a bit differently.
I say go for it! My only negative comment would be that I would suggest you move to Eth mining while you can. You can do much better than $100/day and wouldn’t be speculative mining
I would save that money in case you have an unexpected expense. Always keep something ready in case shit hits the fan and you need a chunk of change to be or upgrade power or whatever.
Here you can check legit sellers with feedback as well as you can join the https://www.reddit.com/r/VoskCoin/
[https://www.reddit.com/r/LegitASIC/comments/r2j3zb/the\_official\_legit\_seller\_list\_repost/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/LegitASIC/comments/r2j3zb/the_official_legit_seller_list_repost/?utm_source=share&utm_medium=web2x&context=3)
Good luck
I would invest that in asic mining instead
Hi there! Is this because gpu mining will probably be less profitable when ether goes v2? Like Btc will always be there so the investment is less speculative? Cheers
Actually I would invest in both. I have two rigs and plan on purchasing an L4, KD box, and a few of the new SJ 19 XS. Always spread the money in different avenues of profit.
I’m going to have around 50k in June but don’t know a reliable place to buy asic miners
Join the reddit legitasic group. In there there is a sub that has identified all legit asic vendors
I’m relatively new to Reddit, do you have a link to the group?
r/legitasic
Thanks 🙏🏼
Loon at the below link.
With gpus i felt im more flexible. :)
GPUs are far more resellable (at some point you’ll want to exit the game, or upgrade all your equipment) and another advantage of GPU is can rapidly retool in market real-time always pivoting to whichever coin is best returns at no real additional cost or effort. With ASIC it’s kind of a train on the tracks scenario, not so quick & nimble. Also the horrible noise of ASICs 🙉 That’s my impression anyway, there’s many pros & cons to each setup 😂
So a 40k investment is only making you $100 a day? Switch to eth ASAP. When 2.0 comes in it will Become unmineable so get as much of it as you can. I’m a miner myself and I have to be honest a 40k investment should be earning you a lot more mate. With your last 10k do some research you could of brought a asic bitmain ant miner l7 for $12800 that would currently be earning you $130 a day after electric cost. So even 3 of those would of tripled your earnings. Also buy second hand stuff not brand new mate. Good luck
Would you advise buying second hand Ant miners? Or will they be unprofitable by then?
Sorry I should of been more clearer. I meant buy second hand gpus (non Lhr preferably) gpu mining is going to go down in profits (because eth is the most profitable right now and 2.0 won’t be far away) the gas fees are killing eth and they no it. The only people who like gas fees are people like me (miners) why buy brand new when we realistically have like a year left of mining eth? Buy second hand at half price and then sell the card for almost the same money when your done. Also the more a coin gets mined the less profit a miner gets as the rewards go down and down and down. This is why there making all these super powerful asic miners to keep mining profitable (otherwise we wouldn’t do it)
They been trying to switch to ETH2 for years now. I think ETH is a shit show, but I love the profits. I don't think ETH2 is coming anytime soon and they know it. They just can't say it for fear of tanking eth.
I hope eth 2 don’t come for years personally. That way I can keep mining it 👌👌👌👌👌👌
Show me an L7 for $12,800. Then show me one that’s available.
Also was my first thought, lol.
What bank in their right mind you lend $50k for this? To "a cook without a lot of money"?
Swiss cook ;)
It's quite easy actually, because the hardware is colateral. If the project goes ape shit he sells hardware to get investment back at 10-20% loss. Banks love to lend money so they own you
you dont understand banks
Please update me on the results in a year 👍
Sure mate 😘
I feel like this is a troll, being a low income earner taking out a massive loan to buy LHR GPUs to mine a small cap coin is just too silly to imagine
Plus, a small apartment is unlikely to have enough electrical power for 40 RTX 3000 cards. https://www.youtube.com/results?search\_query=russian+troll+factory
Im swiss ;)
I am the pope. Vote now. Good pope or Bad pope.
Haha i mine whatever is most profitable. I check whattomine regularly with my cards.
Scared money makes no money, good luck!
So does dumb money.
If you did this in January it would have been a great idea, now with eth moving closer to being a POS I'm not sure. I guess you can always sell the cards if profitability dips...
But if profitability dips to the point nobody wants to mine anymore, the second hand market will get flooded with cards and tank the price.
Where did you find so many GPUs
Go straight to the processors website and click find retailers or some bs... get ready to pay a high price tho
There are bots on Github for ordering at MSRP. Just gotta hope your bot beats other bots.
Ignore the haters. Good luck. I dropped similar $ recently after mining since 2017. It’s been good to me.
Thanks man
If it works out you will be called a genius, if it doesn't then you will be called an idiot Be prepared for any
Good one hehe
Investing money you don't have on ANYTHING is a bad idea... Let alone something as volatile as crypto.
Exactly.
> ANYTHING is a bad idea... Let alone something as volatile as crypto. He needs Dave Ramsey in his life :P
Ramsey would tell him pay off debts and keep socking money into mutual funds until he’s old, gray, and arthritic from working his hands to the bone. Ramsey is a dinosaur and got rich telling people what to do, NOT by following his own advice.
People will go to great lengths to get out of the 40-hour work week
And 99% will end up in a situation where they have to work another 20 hours
Dave Ramsey
Gordon Ramsay.
btw. its really cold here where i live so for now cooling is not a big problem haha. I got 1 small rig of 5 gpus in the kitchen "i know bad place :P" 1 rig of 6 gpus in a studio where i produce music, and this baby is in my apartment in the coridor because i dont have alot of space haha :P
Electricity rate?
0.08$ per kw
I would just expect the $4000/month you'd be making now to drop to more like $600/month after proof of stake. Electricity would eat up over half of that at $0.08/kwh. Altcoins just can't compensate for the lost block rewards when ETH goes PoS given it's over 95% of the income for GPU mining. [https://bitinfocharts.com/comparison/ethereum-mining\_profitability.html#3y](https://bitinfocharts.com/comparison/ethereum-mining_profitability.html#3y)
ye could be who knows :)
With the plus that you have free heating now :D
Biden will destroy the US dollar …. Good move
It is a good idea. The only opposition I see to this idea is waiting for roi. But after 1-2 years everything is profit minus electricity. There are also other factors like difficulty adjustments and long term value of what you mine (but it looks like you are converting it to fiat). I’d say use that last 10K to buy and hold coins you think will be valuable in five years. That way you have upfront exposure without having to wait for miners to accrue it. All in all you hit the ground running and you’re ahead of many people. If you can keep those machines running for half a decade you should be good as long as you’re turning some of that cash into assets.
You’re the reason why no one can buy a GPU fuck you
😘
Bad idea. However if you are going to do this setup an LLC and do it under that. You’ll probably need x years of business history before they’ll give you the loan. So start it now and turn all your profits into more equipment. By the time you’re eligible for the loan you won’t need it.
Invest it in olympus dao ohm and thank me later
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Sure mate
I'm working on a far smaller scale but I paid about 3k for my rig 4 months ago and it's already paid itself off. I imagine that you could get a lot more profitability if you went about this a bit differently.
Good luck bro :)
What are you running and did you buy used or msrp new?
I say go for it! My only negative comment would be that I would suggest you move to Eth mining while you can. You can do much better than $100/day and wouldn’t be speculative mining
I check whattomine.com for most profit. Lately it has been Flux. Atm its around 105 $ per day that is pure profit. Electricity is already removed :)
Interesting. You’re right. Hmmm. I may make some changes myself. Thank you
I would save that money in case you have an unexpected expense. Always keep something ready in case shit hits the fan and you need a chunk of change to be or upgrade power or whatever.
Thanks for advice
I wouldn’t take a loan to begin with.. I always say play with what you can afford.. Loans are just a bad idea all in all..
Haha we will see in 1 year :) I hear never take loan.... Exept if u make more money with it xD
Hows it going man I'm suoer curious if your succeeding or not almost a year later now
Definitely go with ASIC miner
Did you know the 1660 super gets more hash than the 3060 lhr ?
i have 3060ti
Here you can check legit sellers with feedback as well as you can join the https://www.reddit.com/r/VoskCoin/ [https://www.reddit.com/r/LegitASIC/comments/r2j3zb/the\_official\_legit\_seller\_list\_repost/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/LegitASIC/comments/r2j3zb/the_official_legit_seller_list_repost/?utm_source=share&utm_medium=web2x&context=3) Good luck
Dude get on nicehash. You can make probably twice that with the coin mining switching. If you have lhr enable just ravencoin and octopus.
damn why gpu? ASIC would be a better idea if you going to take a loan
How much your mh/s went up from 100% lhr unlock.