Cryptocurrency world - Selling hashpower, mining, and making money

[DirectorGunner]

I finally read this thread (or most of it; skimmed through the late 2017 love fest after a few; same with the Jan/Feb 2018 shoulder crying) and I've decided to put my life savings into mining...

So I just bought 4,242 RSI Orions. I'll let you know how it goes *fingers crossed*

I'm kidding of course. In all seriousness though, I'm intrigued. It seems that mining might be a way to get value out of existing equipment (mine & wait for the next mania to sell), provided the gains per Kw aren't unreasonable. I currently have 2 1080ti's in a computer which due to my new baby spend waaaaaay too much time not playing star citizen. Thoughts?

Easiest solution:
Make sure PC has enough cooling (my GPUs are liquid cooled), Run nicehash, see your power bills go up $100 or so. lol
But really, even though I hate it, Nicehash really is one of the easiest unattended solutions to mine with unused GPUs.
Just make sure to turn off CPU from being used to mine, unless you wanna super heat your PC and give it an earlier death. imo.

 

[Bruce]

For a 1 million kw of power a year via solar panels... through all south facing panels on a 22.6 degree tilt.. in Nevada... at 600 Kw a year per panel (330 watt panasonic HIT).. that's 1667 panels... which needs an ABSOLUTE MINIMUM of 30,034 square feet. That's at least a $1,650,330 solar system. At a very aggressive target revenue of $15K to $24K a month

If I'm not mistaken in Nevada it is possible to buy (or sell?) 1kWh for 3.87c ... in case you are only looking for 1 million kwh per year - it is much more logical to get into a deal with local energy producers and not invest yourself ( your 1.6 mil is enough to pay 40k per year 40 years in a row :) )

 

[MikeNificent]

Easiest solution:
Make sure PC has enough cooling (my GPUs are liquid cooled), Run nicehash, see your power bills go up $100 or so. lol
But really, even though I hate it, Nicehash really is one of the easiest unattended solutions to mine with unused GPUs.
Just make sure to turn off CPU from being used to mine, unless you wanna super heat your PC and give it an earlier death. imo.

Thank you. I'm liquid cooled also. I'll give it a shot one of these days.

 

[Bambooza]

If I'm not mistaken in Nevada it is possible to buy (or sell?) 1kWh for 3.87c ... in case you are only looking for 1 million kwh per year - it is much more logical to get into a deal with local energy producers and not invest yourself ( your 1.6 mil is enough to pay 40k per year 40 years in a row :slight_smile: )

Sort of.

https://www.energysage.com/net-metering/nv-energy/

But I am not sure a company gets the same credits.

 

[BUTUZ]

Soo any Testes still doing anything with Crypto or mining? I am still mining as a hobby on a very small scale. Electricity prices here are awful in UK so mining is not at all profitable (24cents / kwh).

 

[Radegast74]

Soo any Testes still doing anything with Crypto or mining? I am still mining as a hobby on a very small scale. Electricity prices here are awful in UK so mining is not at all profitable (24cents / kwh).

lol, I'm in California and that is exactly what I'm paying for electricity...and it's going up, since the utility is able to treat the customer & taxpayer like bottomless wallet, simultaneously paying out executive bonuses while also declaring bankruptcy and getting the state govt. to bail them out. Sheesh!

Needless to say, I don't even bother with it as a hobby...

 

[Sirus7264]

You guys should get a small solar panel they sell them on Amazon then you dont have to worry about the electric cost and continue your hobby. The net loss is when the machine actually starts to break down. mining crypto really pushes the limit of your components and shortens life drastically.

 

[Bambooza]

You guys should get a small solar panel they sell them on Amazon then you dont have to worry about the electric cost and continue your hobby. The net loss is when the machine actually starts to break down. mining crypto really pushes the limit of your components and shortens life drastically.

It doesn't sound like a very good return on investment.

 

[Sirus7264]

It doesn't sound like a very good return on investment.

In the long run as long as the device paid for itself and the solar panels before the solar panels broke then it was worth it.(im sure the solar panels are going to last longer than the machine.)

 

[Bambooza]

In the long run as long as the device paid for itself and the solar panels before the solar panels broke then it was worth it.(im sure the solar panels are going to last longer than the machine.)

True, I didn't say it wouldn't have a ROI just that it doesn't seem to be a good one or a quick one.

 

[Sirus7264]

True, I didn't say it wouldn't have a ROI just that it doesn't seem to be a good one or a quick one.

definately not a get rich quick but to be honest isnt that the same with anysetup? your video card is going to be destroyed way faster than normal if you use a normal machine to mine and electric costs are still going to exist but for the enitre time the system exisits. At least with a solar panel setup you have a set quota to reach before you start making money and dont need to worry about inflation deflation of product costs.(can always sell the panels on ebay to at 50% the cost if you keep them in good shape. if you want the get rich quick or you wanna quit.)

 

[Lesley Foden]

Let's revive this forum thread. There are so many interesting events happening in the world of cryptocurrencies now. We can share our observations and views on this industry. For example, you can advise trading platforms or services for technical analysis. I have already found such a broker. Read this

 

[NaffNaffBobFace]

Let's revive this forum thread. There are so many interesting events happening in the world of cryptocurrencies now. We can share our observations and views on this industry.

Welcome to TEST!

First question: Kirk or Pickard?

 

[Sirus7264]

Welcome to TEST!

First question: Kirk or Pickard?

hahahaha so true