/biz/ - Business & Finance

Mine Monero

>>28606499
Currently mining close to 1ETH a month. Think monero is a better choice?

>>28606401
if you don't pay for power, 100x that setup.

>>28607523
If I could I would. I spent most of my savings on cards. I’m up to 14 but can’t really afford more

>>28606668
It will be if Monero goes full BTC. It's already on a similar path as the main currency of the dark web. Memes aside monero is one of the few coins that is actually used

>>28606668
Mine monero, use it to buy drugs, then sell the drugs at a markup

>>28607936
Do you really think monero is a better choice than than ETH?

>>28606401
>guy runs up a 2k a month electric bill while living with his parents or renting a room from some old lady

>>28608358
No despite all the FUD ETH isn’t going anywhere and even with shitty gas fees people will still use it in five years

>>28609255
not my fault that utilities are included in my lease. Why not take advantage of it while I can? Also, not an old lady

>>28606668
slap a decent ryzen in your ETH rig, have it do some nanopool mining for XMR, just make sure you have 3200MHz DDR4 ram on it
not amazingly profitable but it's also completely anonymous and as an extent untaxable

>>28606668
Redpill me on mining ETH. Is the power consumption significant? Is the hardware hard to get? (Sells out?)

>>28606401
I don't understand mining, but if you mine this coin you will be fine.

>>28606401
im going the staking route personally

>>28609990
I didn’t have much trouble. I was able to get 14 GPUs without any problems. The rig was easy to build and setup. Like I said above I don’t pay my power bill (included in my lease) so I couldn’t tell you about the monthly costs. Right now I’m mining right around 1ETH a month in the hopes that I can quit my shitty wage slave job some day soon

>>28610221
How much do you need to have to stake? I’m trying to learn more about it because I have no experience with staking

>>28609519
They'll refuse to extend your lease you know, but in the meantime yeah it's a great idea. If you already have a rig (GPU) then just mine ETH and hold it, it's going to blow up as the bubble continues. The only thing you should spend that ETH on is expanding your mining rig.

>>28610229
What gpu's anon

>>28606401
depends on what you are mining. i would put every free bit of money you dont need to live into crypto. you'll be free in less than 5 years

>>28608358
Go for both if you can. ETH is the backbone for many other shitcoins, so there will always be demand for it.

>>28609519
Extremely based! Good luck mate!

>>28610368
Right now I’m running GTX 1660 x10, RTX 2070 x2, and RTX 3090 x2

>>28610345
I know full well that they won’t renew my lease but I have another 10 months so I’ll take advantage of it while I can

>>28610731
So what ur saying is
>ape into cards
>ape into a 12 mo lease with paid utility
>abuse landlord & repeat yearly
>???
>Profit??

>>28610317
im not 100% either ive been holding fantom and they have decent staking rewards there but the coin is still volatile as fuck.

>>28610731
Yeah I think we'll hit peak in the next 10 months so go for it. If you're really okay with risk I'd even say take out a loan for more GPUs just good luck finding them.

Alternatively just take out a loan and throw it into crypto and as soon as you hit 3x cash out and repay the loan.

>>28610890
That sounds about right

Stop buying all the GPU stocks you fuckers I'm building a new PC and this is a nightmare

>>28611162
Seethe gaymer

I know a place where we could put a powerplant to run the servers and our prices would be next to nothing.


cooling would be pretty much free too.

>>28611162
Just wait, if he doesn't mine enough to buy a house he'll be selling them soon when he can't find any place to rent from again.

>>28611564
Basically

>>28611544
Yeah me too, I just don't have the capital to set it up and my day job keeps me from putting together a solid business plan and going to the bank for a loan.

>>28611544
You’ve peaked my interest

>>28611769
the banks where i live are outside the USA and domestically don't loan over 500k usd. i have to go to private investors for everything.

I tried doing a BTC exchange here in 2010 and they didnt' even know what i was talking about. I feel i missed the bus on so much.

>>28611924
well, the core of any crypto mining operation is power and cooling. So cold climates and stuff are good.

I found this one town thats got a fiber trunk running through it and a geothermal spring that would put out a few megawats of power.

It's all in a cold climate zone and for about 1million dollars per Megawatt you too can build your unlimited fuel power plant in an america on artic zone with plenty of cold water for your heat syncs

>>28612124
Unfortunately I can’t afford to quit my job. Still working 50+ hours a week but I hope that a few GPUs could be my ticket out

>>28606668

Can you give specifics on what you use GPUs you use to mine 1 ETH/per month? Also what will you go to once ETH can't be mined anymore?

>>28612346
so are you a competent programmer and you can set up rigs?

What would you need and what would be the pay out? have you crunched your numbers lately?

>>28612346
give me some ROI analysis and why you shouldn't just put money in with a coin farm that already exists.

>>28610229
Buy a kilowatt off ebay. You plug it between the power cord and the outlet and it tells you exactly what youre using. Also maybe look into living on cheap or free land later and build your own solar setup.

>>28612994
>just build your own solar set up bro

have fun spending like 100k minimum to get the (not consistent) power to run a mining operation

>>28612556
>28612504
Yea I’m using a mix of GTX 1660s, RTX 2070s, and RTX 3080s. I’ve worked in IT for 10 years now so the software/ hardware stuff is easy for me. I’m currently mining 1ETH a month but can’t really afford to buy more cards right now. I’m thinking about “hosting” some cards for some friends and charging like a 20% fee but I’m not sure yet

>>28610656

Based on my quick search your cards are worth a combined $10,000 roughly. The question is how much did you spend on them and how long ago did you buy them? If ETH stays around $1800 then break even would be about 5.5 months. That being said if you paid electricity too it would be maybe another 2 months maybe.

>>28613305

Apply for a credit card on new egg. You can get 12 months 0% APR financing for purchases over $500. However if you don't pay it off by the 12 month period all the interest that would have accumulated then does. Debt max bro you have one shot at this before ETH takes off completely

>>28613555
I’ve been buying them over the last 5-6 months. I do not have to pay for electricity. So far I’ve mined right around 2.5ETH and I spent $9,000ish on everything

>>28611162
I know your struggle. I had to build an entirely new PC in order to get my hands on a 3080, still paid like 1300$ for the GPU alone.

>>28613305
how tf did you get 2 3090s?

>>28606668
What’s your setup? I had 5x RX 580s going a few years ago and wasn’t pulling anything close to that.

You must have quite a bit invested.

>>28614876
I was able to get them on Newegg a while back

>>28615077
Right now it’s a mix of GTX 1660s, RTX 2070s, and RTX 3080s