Bitcoin Forum

Alternate cryptocurrencies => Mining (Altcoins) => Topic started by: btcgolong on July 07, 2017, 03:47:51 PM



Title: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 07, 2017, 03:47:51 PM
A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.


I told him about the risks...we are meeting later today to talk more about this.


He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.


I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.



What do you think, bad time? Isn't it always a bad time?


Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.








Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Andrew1337 on July 07, 2017, 03:59:15 PM
Hmmm , actually mining is still profitable if you want to mine ethereum/zcash/ . But the difficulty is still increasing by the time goes , so I think in my personal opinion , ethereum and zcash won't be so profitable in the next year , month December . But I heard lot of miners who are moving to the DUBAI Coin ( DBIX ) , this coin grew very fast and is still increasing . I think DBIX is the next coin for mining :)
I recommend you and at your friends to start mining as soon as possible :) and also i recommend you to mine dbix because if you are holding the coins long time you will get on a good profit


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Georgos on July 07, 2017, 04:22:35 PM
Hmmm , actually mining is still profitable if you want to mine ethereum/zcash/ . But the difficulty is still increasing by the time goes , so I think in my personal opinion , ethereum and zcash won't be so profitable in the next year , month December . But I heard lot of miners who are moving to the DUBAI Coin ( DBIX ) , this coin grew very fast and is still increasing . I think DBIX is the next coin for mining :)
I recommend you and at your friends to start mining as soon as possible :) and also i recommend you to mine dbix because if you are holding the coins long time you will get on a good profit

The guy invested money, or will, so mining a YoBit pumped coin is the least thing I would recommend. Maybe that will become something legit, but maybe it is just a pump, and it is probably...


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: iamnoobplzhelp on July 07, 2017, 04:23:59 PM
Business decisions are always a gamble.

But instead of getting non-factual based answers on forums, you need to go out and do research on the actual facts of mining.

Realistically, what kind of mining hardware can you buy with $50k?
How much has Eth difficulty increased over the past few months? Can you extrapolate to find out what difficulty will be in 6 months? 12 months?
At that difficulty, can you still make a profit?
What are other factors that would change profitability?
Ice age? POS? New video cards? Price drop?
.... plus many more questions

There are tons of facts out there to build a business case and the associated risks.
Generally, the only thing you'll find here is speculation.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 07, 2017, 04:25:59 PM
Tell your friend that ropecoin is the next best coin to invest, ropecoin is going to fit your friend very well and if he does not get his money back in 12 months, he can always use the ropecoin to commit suicide hehe


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Za1n on July 07, 2017, 04:30:39 PM
With most coin hashing difficulties still increasing at a rapid pace and with market prices declining, that $50k would be better spent on buying coins directly at this point in time. From now until sometime around August 1st, I think most coins will keep declining in price until BTC's immediate future becomes more clear.

Like it or not, most coins still sink or swim with BTC, so if you have faith in your preferred coin I think the next couple of weeks will present many excellent buying opportunities. You will get much more bang for your buck buying right now than investing in overpriced mining hardware, and your 6-12 months payback period is going to quickly become 18-36 months or longer.

Who knows, when the price for mining hardware comes back down from the stratosphere and you can actually buy for under MSRP, and once some of the excess capacity has bled out from mining, maybe in 6-12 months time you can look at getting back into mining. For right now the conditions are the worse they have ever been for anyone just looking to get started from scratch. You cannot use today's profitability figures to forecast several months out, as unless coin prices continue to exponentially increase to keep pace with their mining difficulty, the future mining profits are going to continue to plunge.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: andylittleton on July 07, 2017, 04:49:11 PM
I hear people from 2-3 years ago saying difficulty is too hard with their current  hardware at the time and I hear people now saying the same thing with new hardware. There is no easy money. You gota mine and be willing to accept to break even or have slim profits in the short term to mid term. If your willing to accept that potential reality then go for it. The real gains come from holding your coins as long as you can, or until it has a nice price breakout after mining them if your lucky. That can take 6 months or more. The biggest mistake to me is giving up and not trying it. I rather try and fail and try again. Those are the winners. It's just like housing. Get in as early as you can. It's a long term game. Always think bigger picture, go against trend, and do things that not many people are doing due to difficulty.

Going back to specifics if your going to run a mining farm you're going to have to learn as you go, debug the hardware equipment and software,  find ways to better optimize cost of equipment as you build and go on.  Even if it's not the most optimized your fighting against time so you can make a few mistakes and keep improving as you go.  Ditch the shopping list and just do it and build your 1st fully functional working rig. Once that's running perfectly you'll build your next rig cheaper and more efficient. Start small and expand


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Juggar on July 07, 2017, 06:51:44 PM
Tell your friend that ropecoin is the next best coin to invest, ropecoin is going to fit your friend very well and if he does not get his money back in 12 months, he can always use the ropecoin to commit suicide hehe

Why do you have some weird infatuation with suicide? I don't get on here that often but half your post (that I have seen) have something to do with killing oneself.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: thesavoyard on July 07, 2017, 06:54:51 PM
A. He'd make a lot more if he invested directly into a winning coin. He'd lose flexibility though, so he'd better get a winning coin.

B. Better get industrial power rates for that big of an investment. Get a single grinder and call it a machine shop.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: fanatic26 on July 07, 2017, 06:57:24 PM
The real issue is sourcing hardware right now. Chances are it will take 3 months to find all the hardware you need.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Georgos on July 07, 2017, 07:01:55 PM
The real issue is sourcing hardware right now. Chances are it will take 3 months to find all the hardware you need.

Frankly it depends where he lives. I have seen some countries where there is for example plenty of 1060s, while there is a great shortage in some other countries. Unless we know more about his case we cannot tell him more.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: antantti on July 07, 2017, 07:03:00 PM
Tell your friend to wait, now it is time to be in cash.

Wait, wait, wait and then some more wait. It is always the hardest part.

When the time is right, buy. But don't buy mining hardware, buy something that is cheap and still alive.

Just my two fiat cents...


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 07, 2017, 07:23:10 PM
A. He'd make a lot more if he invested directly into a winning coin. He'd lose flexibility though, so he'd better get a winning coin.

B. Better get industrial power rates for that big of an investment. Get a single grinder and call it a machine shop.


He is zoned commercial.

Maybe a hybrid approach, 25k in mining equip., buy some "coins" and hold some cash for deals (on equipment and buying coins on drops)




Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Georgos on July 07, 2017, 07:24:41 PM
Tell your friend to wait, now it is time to be in cash.

Wait, wait, wait and then some more wait. It is always the hardest part.

When the time is right, buy. But don't buy mining hardware, buy something that is cheap and still alive.

Just my two fiat cents...

You are giving probably a precious advice, and coming from an Hero Member I respect it a lot :). BUt it is not very precise : you are telling him to wait, but you do not tell him to wait fpr what, and moreover, you tell him to buy something, which you do not precise too.

That is probably a good point, but could you be a bit more precise please sir :) ?


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 07, 2017, 07:32:31 PM
Will be so much fun, this guy spending 50k on mining rigs and selling them for 80% of the price hoping to get at least 20% of those 50k hehe, I have seen many people losing 80% or more in 2013, this will be so much fun hehe, you op you must be careful, your friend might waste you after hehe, even though you said its risky, he will not remember what you said hehe and then he will shoot you to death hehe


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Juggar on July 07, 2017, 07:41:27 PM
Will be so much fun, this guy spending 50k on mining rigs and selling them for 80% of the price hoping to get at least 20% of those 50k hehe, I have seen many people losing 80% or more in 2013, this will be so much fun hehe, you op you must be careful, your friend might waste you after hehe, even though you said its risky, he will not remember what you said hehe and then he will shoot you to death hehe

The fuck is wrong with you boy? You ain't right in the head.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 07, 2017, 07:48:35 PM
The fuck is wrong with you boy? You ain't right in the head.

Does reality scare you? if yes then that is good thing. People wanting to invest 50k on a saturated market then they better to pull the trigger and shoot their heads because they are not their research correct and by the way people should have common sense and not be greedy and assume on false assumptions that they will get their money back in few months, right now pending doom is coming, difficult will increase 300% in 2 months.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: antantti on July 07, 2017, 07:52:04 PM
That is probably a good point, but could you be a bit more precise please sir :) ?

I am really far from sir, haha!!

I don't know what will be a good buy, I can only guess...

1) Stay away from ICO

2) Do not buy ICO projects

3) Also, remember to not to invest into ICO

edit: Metroid is actually trying to help you guys, really  ;D ;D ;D


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: comp on July 07, 2017, 08:55:39 PM
Mining party currently playing last record on the cd. Party is almost over


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Jdope on July 07, 2017, 10:26:42 PM
I would say don't buy gpus currently, go with the asics, difficulty wise ethereum turned from almost 80TH to a 1037TH today, while bitcoin on the other hand only doubled, dash from january quadrupled, still a big increase but not as much as gpus.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Subw on July 07, 2017, 10:33:26 PM
Buying gpus are too late. Crypto is dying...  RIP profits


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: RentGPU on July 08, 2017, 12:22:00 AM
A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.


I told him about the risks...we are meeting later today to talk more about this.


He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.


I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.



What do you think, bad time? Isn't it always a bad time?


Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.







Really , 50k now at this time , man you are taking too much risk for a bussines person, you should consider investing 5 months ago when everything was dust cheap


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: n0madDurwhat on July 08, 2017, 02:36:29 AM
A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.


I told him about the risks...we are meeting later today to talk more about this.


He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.


I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.



What do you think, bad time? Isn't it always a bad time?


Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.








I am in a scenario very much like yours and am very curious as to where your head is at with it all.

For me, I've been mining as a hobby for a year and a half or so but have been into crypto since I discovered silk road lol.. But I was constantly trying to get my family to shift their holdings into something that offered a more secure store of value with an extremely high upside with prices rising over the years.

Now they've all shown up on my front door wanting to throw money at me lol

Trying to decide how best to go about this mitigating risk as much as possible as even though I have been fortunately successful trading, we all know it might as well be gambling some days. Your input would be greatly appreciated


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: tleilaxu_eyes on July 08, 2017, 03:13:44 AM
Honestly the smartest thing to do might just be wait 1-2 months, then make that decision.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: adaseb on July 08, 2017, 03:21:03 AM
Tell your friends that other people have friends who also have 40-50k to invest.


Let them think about that for a minute...

If they are smart in business... they will know what that means.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 08, 2017, 04:28:37 PM
remember 50k isn't that much for this person...so the risk is minimal.

It is tax deductible as well...



What should my "fee" be for setting this up and maintaining it?


Is 20% too much?





Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: BeerMan81 on July 08, 2017, 04:31:43 PM
He should just invest in the coins. But, he needs to actively monitor prices, new coins etc.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: blueMoonshine on July 08, 2017, 04:38:29 PM
The real issue is sourcing hardware right now. Chances are it will take 3 months to find all the hardware you need.

Have the same issues with investors. I currently have $150K ready to go and build-out. But, hardware is a joke right now and mining hardware (GPUs and high wattage PSUs) is going through a huge change with 13 PCIe slot MBs that look as if Windows will be able to recognize all 13.

Then, RX Vega, and mining specific cards around the corner, makes it hard to want to scale out with available 6-8 GPU RX 560/550 systems.

If there was a way to get a hold of 500 RX 570s right now, would have already started. 4 major US distributors can only get me 560s/550s in bulk, 570s maybe once a week 15 at a time. Still not enough to drag big money in right now.



Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Maxumark on July 08, 2017, 06:54:52 PM
I will answer your question flat out.

Yes do it.
He provides the capital and space to run the equipment.
You source, assemble and run the equipment.
You split the income after expenses each month as the two of you agree 80 for him 20 for you or what ever you agree to.
He owns all the equipment and you are expertise.

Maybe don't just go GPU rigs, maybe throw in some L3+, or x11 miners too if you can so that you are diversified in the Algos and coins you can mine.

Get the agreement in writing and both sign it.

Just do it. Right or wrong, good or bad, profitable or not,  will not be known until 6 to 12 months have passed.

Then come back and let us know how it worked out. Maybe give us some updates along the way.

Good Luck!     


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 08, 2017, 07:09:10 PM
Or just build a nice big fire and throw the money in.  It will probably be fun and totally worth it.

I think this will be much easier worthwhile and will save them from doing a lot of things and in the end will save them 50% money. Instead of losing 150%, they will lose just 100%.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: rdluffy on July 08, 2017, 08:30:33 PM
Or just build a nice big fire and throw the money in.  It will probably be fun and totally worth it.

I think this will be much easier worthwhile and will save them from doing a lot of things and in the end will save them 50% money. Instead of losing 150%, they will lose just 100%.

Man, every post you say the same thing, why are you here on the mining section if you think it's not worth?
You are wasting 100% of your time


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 08, 2017, 10:07:19 PM
Man, every post you say the same thing, why are you here on the mining section if you think it's not worth?

Saving noobs from themselves, remember that he created this thread and asked for an opinion and I gave mine and so many others, its his decision to mine or not to mine ropecoin. I advise, do not mine ropecoin.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 10, 2017, 04:14:53 AM
I will answer your question flat out.

Yes do it.
He provides the capital and space to run the equipment.
You source, assemble and run the equipment.
You split the income after expenses each month as the two of you agree 80 for him 20 for you or what ever you agree to.
He owns all the equipment and you are expertise.

Maybe don't just go GPU rigs, maybe throw in some L3+, or x11 miners too if you can so that you are diversified in the Algos and coins you can mine.

Get the agreement in writing and both sign it.

Just do it. Right or wrong, good or bad, profitable or not,  will not be known until 6 to 12 months have passed.

Then come back and let us know how it worked out. Maybe give us some updates along the way.

Good Luck!     

Great post, thanks.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: winniethepool on July 10, 2017, 12:47:48 PM
Really encouraging post. I did the same thing last month.

I will answer your question flat out.

Yes do it.
He provides the capital and space to run the equipment.
You source, assemble and run the equipment.
You split the income after expenses each month as the two of you agree 80 for him 20 for you or what ever you agree to.
He owns all the equipment and you are expertise.

Maybe don't just go GPU rigs, maybe throw in some L3+, or x11 miners too if you can so that you are diversified in the Algos and coins you can mine.

Get the agreement in writing and both sign it.

Just do it. Right or wrong, good or bad, profitable or not,  will not be known until 6 to 12 months have passed.

Then come back and let us know how it worked out. Maybe give us some updates along the way.

Good Luck!     


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: antantti on July 10, 2017, 03:37:13 PM

Not saying all ICO's are bad but 80% of them are only smoke and mirrors. How many prediction market projects there are with marketcap more than $100,000,000? No need to answer....

Now they and everyone else are dumping and mining profits are down another 20% in only four hours.

That friend with 50k actually saved a shitton of cash if he/she did nothing with it during weekend. If he/ she shorted eth with it... well... six digits...

Wait, wait, wait. Right now there are no cheap coins or gpu's. It is cashtime.

edit: OT but some of you might have been monitoring this 1 eth= 1 zec thing? If it holds that means there is no equihash safe haven...






Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Metroid on July 10, 2017, 04:24:57 PM
edit: OT but some of you might have been monitoring this 1 eth= 1 zec thing? If it holds that means there is no equihash safe haven...

Somebody here said, "see zec, even eth crashes, zec will be good to mine", and my reply was simple, if it was not for eth or btc, zec would still be 0.04 btc. These people that think just one coin crashes are dumb. If bitcoin crashes, all crashes, if eth crashes all might crash, if zec crashes some might crash, it depends how important that coin is for the market as a whole. Cryptocoins are all linked noobs, call it a chain reaction from the most important coin to the least important coin.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: antantti on July 10, 2017, 06:46:32 PM

Would also explain that invisible hand that was holding zec up against all odds. And would also make zec just another world computer dapp.

More thinfoil, my hat is never good enough ))




Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 11, 2017, 02:37:08 AM
A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.


I told him about the risks...we are meeting later today to talk more about this.


He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.


I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.



What do you think, bad time? Isn't it always a bad time?


Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.








I am in a scenario very much like yours and am very curious as to where your head is at with it all.

For me, I've been mining as a hobby for a year and a half or so but have been into crypto since I discovered silk road lol.. But I was constantly trying to get my family to shift their holdings into something that offered a more secure store of value with an extremely high upside with prices rising over the years.

Now they've all shown up on my front door wanting to throw money at me lol

Trying to decide how best to go about this mitigating risk as much as possible as even though I have been fortunately successful trading, we all know it might as well be gambling some days. Your input would be greatly appreciated

I'll keep you updated...a lot of the negativity is because difficulty has skyrocketed, but I believe ETH/BTC will all be at record highs by the end of the year.

In our case it's not the 50k that we worry about, it's the "opportunity cost" aspect.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Marvell1 on July 11, 2017, 04:45:01 AM
40 -50 k is chump chnage right now due to the high cost of GPUs , you cant even build a real farm for that.  I spent probbaly 60k last year on my farm 250 or so GPUs , including mother boards risers etc  :  now 60k buys what

100 gpus ? and thats not counting all the boards PSU whatever so really only 75 GPU at current prices.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 11, 2017, 10:21:46 PM
40 -50 k is chump chnage right now due to the high cost of GPUs , you cant even build a real farm for that.  I spent probbaly 60k last year on my farm 250 or so GPUs , including mother boards risers etc  :  now 60k buys what

100 gpus ? and thats not counting all the boards PSU whatever so really only 75 GPU at current prices.


Thanks for the reply, it's good to know what other's have done/are doing.


Was shooting for 100 GPUs no matter the cost...overall it's not a lot of money to this investor...just testing waters.


It's really becoming about the opportunity cost for me and the investor...



I have a question, how did you accumulate your 250 gpus?







Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: martyroz on July 11, 2017, 10:28:26 PM

It's really about the opportunity cost for me and the investor...


It's money you both can afford to lose - get in. But not now. Wait 1-3 months for the 2nd hand listings to flood in. Then you can get a lot more hash for your cash.

Tell your funder that it's cyclic and you can lay the foundations for the next surge. Probably when everyone has long forgotten about all this mess.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: iamnoobplzhelp on July 11, 2017, 11:39:26 PM
Take that money and buy Eth. It's so cheap right now!


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: btcgolong on July 12, 2017, 01:24:21 AM
Take that money and buy Eth. It's so cheap right now!

Word on the street is...it's going lower


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Marvell1 on July 12, 2017, 01:49:19 AM
40 -50 k is chump chnage right now due to the high cost of GPUs , you cant even build a real farm for that.  I spent probbaly 60k last year on my farm 250 or so GPUs , including mother boards risers etc  :  now 60k buys what

100 gpus ? and thats not counting all the boards PSU whatever so really only 75 GPU at current prices.


Thanks for the reply, it's good to know what other's have done/are doing.


Was shooting for 100 GPUs no matter the cost...overall it's not a lot of money to this investor...just testing waters.


It's really becoming about the opportunity cost for me and the investor...



I have a question, how did you accumulate your 250 gpus?






I got the bulk of them laster year onnce the rx series were tested to have the same hash rate as 290x and fury cards for 1/2 the power.

bought another 100 from jan to may before prices went stupid.  Selling ny lower endcards the 4gb470 and 480s for around 350 and swapping them for 1070s .

some guy bough 10 of my asus  4gb 470 cards which bough for $135 in march ,  Idk if they know something I dont


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: TeamGreen on July 12, 2017, 08:08:48 AM
I hear people from 2-3 years ago saying difficulty is too hard with their current  hardware at the time and I hear people now saying the same thing with new hardware. There is no easy money. You gota mine and be willing to accept to break even or have slim profits in the short term to mid term. If your willing to accept that potential reality then go for it. The real gains come from holding your coins as long as you can, or until it has a nice price breakout after mining them if your lucky. That can take 6 months or more. The biggest mistake to me is giving up and not trying it. I rather try and fail and try again. Those are the winners. It's just like housing. Get in as early as you can. It's a long term game. Always think bigger picture, go against trend, and do things that not many people are doing due to difficulty.

Going back to specifics if your going to run a mining farm you're going to have to learn as you go, debug the hardware equipment and software,  find ways to better optimize cost of equipment as you build and go on.  Even if it's not the most optimized your fighting against time so you can make a few mistakes and keep improving as you go.  Ditch the shopping list and just do it and build your 1st fully functional working rig. Once that's running perfectly you'll build your next rig cheaper and more efficient. Start small and expand

One of the best comments I have seen on these boards for quite some time.  Very well said.


Title: Re: Friends coming at me with 40-50k to invest into mining rigs
Post by: Marvell1 on July 12, 2017, 10:36:44 AM
I hear people from 2-3 years ago saying difficulty is too hard with their current  hardware at the time and I hear people now saying the same thing with new hardware. There is no easy money. You gota mine and be willing to accept to break even or have slim profits in the short term to mid term. If your willing to accept that potential reality then go for it. The real gains come from holding your coins as long as you can, or until it has a nice price breakout after mining them if your lucky. That can take 6 months or more. The biggest mistake to me is giving up and not trying it. I rather try and fail and try again. Those are the winners. It's just like housing. Get in as early as you can. It's a long term game. Always think bigger picture, go against trend, and do things that not many people are doing due to difficulty.

Going back to specifics if your going to run a mining farm you're going to have to learn as you go, debug the hardware equipment and software,  find ways to better optimize cost of equipment as you build and go on.  Even if it's not the most optimized your fighting against time so you can make a few mistakes and keep improving as you go.  Ditch the shopping list and just do it and build your 1st fully functional working rig. Once that's running perfectly you'll build your next rig cheaper and more efficient. Start small and expand

One of the best comments I have seen on these boards for quite some time.  Very well said.

lol my rigs get more expensive with newer builds since i realise i need more power over head, better more powerful GPUs ,Better motherboards  etc not cheaper