[Kolyan2k]

Just spoke to a guy in town who asked me to help him wire up the place for mining rig. He spent about $40k for 4 8-GPU rigs. Is that profitable now days. I remember few years ago I wanted to set up a rig for myself, but it never happened.....

[IllSic_Design]

yeah he can probably make a good amount on ETH with a nice rig like that, and I'm sure there's plenty other crypto that he could mine that would probably be pretty profitable too right now. Once the bull market is over though he won't be making as much, but he should be able to recoup initial investment pretty quick right now, depending on electricity costs in your area.

[Kolyan2k]

Originally Posted by IllSic_Design

yeah he can probably make a good amount on ETH with a nice rig like that, and I'm sure there's plenty other crypto that he could mine that would probably be pretty profitable too right now. Once the bull market is over though he won't be making as much, but he should be able to recoup initial investment pretty quick right now, depending on electricity costs in your area.

It's 10 cents I think. He said would take 1 year to pay for itself. Wouldn't video cards become old in a year and not be anywhere as profitable as they are now?

I am always afraid to buy all that equipment and then it will become obsolete. I have plenty of space for a rig and can wire everything myself easy. I also have solar panels so electricity will be near free.

[Nachbar]

I was thinking about it. But these rigs are noisy af. So I decided to learn trading (TA).

[Mandi90TT]

Originally Posted by Kolyan2k

Just spoke to a guy in town who asked me to help him wire up the place for mining rig. He spent about $40k for 4 8-GPU rigs. Is that profitable now days. I remember few years ago I wanted to set up a rig for myself, but it never happened.....

He'll make between $400 and $800 a week with those rigs, depending on the GPUs. That's before power/electricity cost, which will probably cost him $200 a week. So it's going to be a long time before he pays off a $40k setup.

I've been mining since 2017, and my rigs are still going strong, so they can last a while, if properly taken care of.

[IllSic_Design]

Originally Posted by Kolyan2k

It's 10 cents I think. He said would take 1 year to pay for itself. Wouldn't video cards become old in a year and not be anywhere as profitable as they are now?

I am always afraid to buy all that equipment and then it will become obsolete. I have plenty of space for a rig and can wire everything myself easy. I also have solar panels so electricity will be near free.

The GPU's will be old tech pretty quick since that tech advances very fast, but it doesn't mean they won't still produce.
just be aware mining wont be so profitable once the bear market hits again

[Kolyan2k]

Originally Posted by Dave 90TT

He'll make between $400 and $800 a week with those rigs, depending on the GPUs. That's before power/electricity cost, which will probably cost him $200 a week. So it's going to be a long time before he pays off a $40k setup.

I've been mining since 2017, and my rigs are still going strong, so they can last a while, if properly taken care of.

He changed his setup a bit. Now ordered 13 GPU rigs (4 rigs) with AMD 6800 XTs. Probably around $50k invested now

[Mandi90TT]

He'll probably push $800 a week ater power costs. So, ROI, just over a year. Not bad.

[DrFerry]

Here yuh go:

Anyone interested in investing in Bitcoin?

https://www.m3post.com/forums/showthread.php?t=925441

Been mining since 2013 at the thread above.

[NoMoreVauxhalls]

Originally Posted by z€No

A friend of mine is trying to convince me to invest since about 3 months now. I'm still not sure if i should take the risk of investing

It's worth a punt only if you are prepared to write off whatever you invest. I'm not mining - I'm just investing in crypto. And am only a very small fish in the crypto scene - but around three years ago a bunch of people at the place I work decided to get on this crypto thing. This was around the time that Bitcoin got to $50k so it was big news.

So I jumped with them and bought 12 different coins/tokens spending around £100 - £150 on each - (small fish like I said, lol). I couldn't afford the big ones, so my idea was to load up on the low-priced tokens (such as IOT, ADA, Ripple, etc.) with the hope that, in the future, one of these would 'spike' and I'd be on my way!

Things crashed soon after. So for most of the last three years, my 'investment' has performed terribly and I was perpetually in a loss. I was cool with that, though, as I'd written it all off anyway.

From the start of 2021 things started looking up - and for all of this year I've been in profit.

Interestingly, one of the coins I invested in back then is MANA - which is the native cryptocurrency in virtual reality-based Decentraland. I had no idea about all of that at the time, lol - I just bought a random selection of cheap coins and this was one of them!

The interesting thing about MANA, though, is that Decentraland is linked to the metaverse. You might have heard Mark Zuckerberg talking about that recently - especially as he has renamed his company, FaceBook, to "Meta", and said that the metaverse is the company's future.

So - in the last few weeks since this announcement was made, my MANA crypto has absolutely, definitely gone through the roof It's like Zuckerberg put a bomb under it, and I'm amazed at how much my portfolio is worth now. Certainly not enough to buy a Lambo - lol. But maybe a decent used X5 hahaahha.

As the metaverse is only in it's earliest, nascent stages, I'll be hanging on to these MANA coins for dear life. It might all crash and burn, but still - I'm excited to see what these will be worth in five years time

NOTE: I'm not recommending that you invest in any cryptos in particular, as I'm not qualified to do so. Just giving you my story as I was in a similar position to you three years ago. I've just been extremely lucky with my MANA so far.

As mentioned before, if you do decide to invest, take baby steps. And only put in an amount that won't cause you financial difficulty if things go tits up

[oVeRdOsE.]

Originally Posted by z€No

A friend of mine is trying to convince me to invest since about 3 months now. I'm still not sure if i should take the risk of investing

risk is risky,

its been like 2 years that 'specialist' saying that chainblock by gpu will die in few months... So yeah, not quite there yet...

eth 2.0 should be here soon, China restriction will probably increase the speed of 2.0, but not there yet.

Starting to see more and more complete rig to sell on FB market tho. And here electricity is stupid cheap, and we need it to heat houses, since we are heating 6month/year. Not heatpump efficient, but still, COP of 1, like a baseboard.

To reduce risk, Im slowly getting gpu at MSRP, and once I have one, I go to the recycle center to get old PC for free. I'm doing like 5$ usd/day. Not much, but planning to reinvest it when new crypto 2.0 will be there.

[F32Fleet]

Power is too expensive unless you do something like buy your own power plant, which has been done by a crypto hedge fund. There's a reason why the big time miners are directly patched into a power plant or in a poorer nation which has cheap power.

[DrFerry]

Originally Posted by F32Fleet

Power is too expensive unless you do something like buy your own power plant, which has been done by a crypto hedge fund. There's a reason why the big time miners are directly patched into a power plant or in a poorer nation which has cheap power.

Geothermal seems to be the way to go. It's like plugging into a volcano, hot springs or just a thermal sink into the ground.

[F32Fleet]

Originally Posted by DrFerry

Geothermal seems to be the way to go. It's like plugging into a volcano, hot springs or just a thermal sink into the ground.

or hydroelectric. IIRC one of the biggest miners in the US is based in/near Maine on hydro.