Viability of a (Long Term) Mining Career?

[Amph]

if you think you need more than 500 per month to live alone, you are seriously wasting your money, i don't need any fancy thing like buying coffe at the morning and vacations to be happy

if you want to go to the restaurant every night that's your problem, i can live without any problems alone and 500 a month yes, i already mentioned that this is done without a family, i don't need a family or anything like that

Where are you from?

as i said italy but that's not the real point, the real point is how many money you take out for your expenditures

if you earn 3k but you spend 4k, even 3k won't be enough and so on...i just live with the most simple needs

[sp_]

as i said italy but that's not the real point, the real point is how many money you take out for your expenditures
if you earn 3k but you spend 4k, even 3k won't be enough and so on...i just live with the most simple needs

True. It's possible to live really cheap in any country.

In Norway there is almost 80% tax on liquor(40%.)

A bottle in the store cost €39



But a chicken cost less than €4.

So you can buy 10 chickens for the price of one bottle of vodka.

[Nikolaj]

you don't need to live under your parent to live with 1k, i can live with 500 and i'm alone, just don't be stupid and build a family with 500 or 1k

again don't say shit like "you have no clue", when you know nothing about the cost of living around the world

if you think that you need 3k a month in every place of earth just to have a normal life, you are the one which is clueless

another thing to add

why in the hell you need to aim at making 60k or 19k a month, when with a regular job you would only make 1k?

let's be equal here, if you want to get rid of your steady job, you need just an income of 1k per month, it can be reached easily by mining any shitcoin if you have proper electricity

A couple of gross details to point out.  Hopefully you can correct me or correct yourself.

$1k / month  ??  

Who can or will live on a $1k a month ? That is $12,000 a year and even the poverty rate in Ont is about $18,000 .. You are suggesting surviving in Ontario at 1/3 below the poverty rate. Even people who are old and home bound or disabled would living substantially better than you.

$1k is more like slovakia.


Please share your model for mining $1k on a shit coin .. I'm must be the dumbest miner on the block because I can't find one.

are you serious man, it's not like there is only america out there, in kuwait or egypt(just an example) the cost is not that high as you think and electricity is at 1 cent

even in iceland where electricity is 5 cent and the cost is 40% higher than europe, you can still live easily with 1k, 1k is overkill actually

it's not about how much you earn it's about how much you spend also, if you fuck your money in useless stuff, it's not my fault

i think you guys know nothing on how much you need to spend each month to survive

Iceland 1k/month living easily? You're alone and you live with 500 bucks/month?

Pretty hilarious statements (to not mentioning mining in kuwait, sorry but you've got literally no clue about what you're talking) 

500 usd/month probably in a communist block, eating each others

if you think you need more than 500 per month to live alone, you are seriously wasting your money, i don't need any fancy thing like buying coffe at the morning and vacations to be happy

if you want to go to the restaurant every night that's your problem, i can live without any problems alone and 500 a month yes, i already mentioned that this is done without a family, i don't need a family or anything like that

If you live under a bridge surely 

Nevermind 

[Iranus]

If you want to make a proper profit from mining altcoins, you need to be prepared to convert your coins into the more stable Bitcoin regularly and switch between lots of different altcoins depending on what the profit is at the time.

It's viable, but don't put in all of your money because any investments into altcoins are inherently risky and you should have a backup source of income, preferably as a job in real life as a means of stability.

[Opquar]

If you want to make a proper profit from mining altcoins, you need to be prepared to convert your coins into the more stable Bitcoin regularly and switch between lots of different altcoins depending on what the profit is at the time.

It's viable, but don't put in all of your money because any investments into altcoins are inherently risky and you should have a backup source of income, preferably as a job in real life as a means of stability.

That is what I am doing. I convert most of the mined altcoin into bitcoin and hold some good altcoin.

[BTCBusinessConsult]

My family consists of the wife and I. We live in a very modest 2 bed 2 bath apt, have 0 debt and make over 100k a year.

We spend 1k USD a MONTH ( 250 a week) on groceries at walmart.

People who say you can live in the US just fine on 500 a month are:

Farmers or completely self reliant
Living with Mom and Dad
Free loaders getting full benefits from the government ( and they dont count that as income)
Lying internet trolls

[RentGPU]

If you want to make a proper profit from mining altcoins, you need to be prepared to convert your coins into the more stable Bitcoin regularly and switch between lots of different altcoins depending on what the profit is at the time.

It's viable, but don't put in all of your money because any investments into altcoins are inherently risky and you should have a backup source of income, preferably as a job in real life as a means of stability.

Real life!!, sorry but mining is in real life you are converting this coins to cash to buy something in real life so this coins are real and the machines creating this coins are real also, so the buisness is real and i am making a profit from mining better than any job.

[GMPoison]

My family consists of the wife and I. We live in a very modest 2 bed 2 bath apt, have 0 debt and make over 100k a year.

We spend 1k USD a MONTH ( 250 a week) on groceries at walmart.

People who say you can live in the US just fine on 500 a month are:

Farmers or completely self reliant
Living with Mom and Dad
Free loaders getting full benefits from the government ( and they dont count that as income)
Lying internet trolls

I guess that depends on your definition of "just fine".

I don't doubt that you could live on $500 a month if you live out of your car. Does that count as "just fine"? Probably not, but it is still "living".

[arielbit]

i think i just need to reiterate this...the earth is big my friends..

@Darwin84

500$ a month for parking? from where i live there is no parking fee around here, there is insurance that cost 6 to 11 $ a month, a computer is already a toy, i don't get why people want to play with gadgets, i have a 24 inch monitor and a lot of GPUs to use for gaming. a used motherboard for my mining rigs costs 28$ max, for bike injury you just need an alcohol and terramycin.

That's downtown Toronto. $300-$600 a month, depends on security and covered or not and that's just work, you need another $100 or so to park at home.


Great so you have a life of GPUs and gaming in a deadbeat farming town and you fix yourself with alcohol.  

That's a waste of life to most people.

I'm not judging but don't pass this off as advice. You'll be on the streets of a big city soon enough when you're first major life upset happens that you can't fix with $500.

Good luck

i'm in a city, in a province..if you read up thread i said i can do 300-350$ "happily" ... the minimum wage here is ~175$ LOL ..i'm fine with 500$  

my location is a comfortable one, i'm even planning to buy a piece of property around here with my savings, 3 malls are in a biking/walking distance, a 4th one is being made, two hospitals are walking distance and a 5 minute commute to the city square.

a metropolis provides higher wages because of higher standard of living..here is a sweet blend of provincial and city living

$200 - $300 i can spend (vacation) ~4 days in this paradise and eat a lot of delicious seafoods



EDIT: in a nearby island they filmed Survivor series...damn those people prevented me from going to an island nearby (there is a mandate not to go there due to filming at that time) bummer!

[fathur.aza]

hobbies also can produce something more than a career

[Tmdz]

My family consists of the wife and I. We live in a very modest 2 bed 2 bath apt, have 0 debt and make over 100k a year.

We spend 1k USD a MONTH ( 250 a week) on groceries at walmart.

People who say you can live in the US just fine on 500 a month are:

Farmers or completely self reliant
Living with Mom and Dad
Free loaders getting full benefits from the government ( and they dont count that as income)
Lying internet trolls

I guess that depends on your definition of "just fine".

I don't doubt that you could live on $500 a month if you live out of your car. Does that count as "just fine"? Probably not, but it is still "living".

There's nothing wrong with living out of your car.  No rent, you can cook, shower, grow dope and do whatever the fuck you want like a normal person.

https://www.youtube.com/watch?v=TGDJ2tGA4F8

[dagarair]

pretty sure you won't have sufficient power to run miners out of a car..... 

[QuintLeo]

My family consists of the wife and I. We live in a very modest 2 bed 2 bath apt, have 0 debt and make over 100k a year.

We spend 1k USD a MONTH ( 250 a week) on groceries at walmart.

People who say you can live in the US just fine on 500 a month are:

Farmers or completely self reliant
Living with Mom and Dad
Free loaders getting full benefits from the government ( and they dont count that as income)
Lying internet trolls

 What the HECK are you buying to manage to go through $500/month on food per person?
 Steak or seafood every night?
 Talk about living high on the hog - no wonder you don't believe folks can live on less when you waste so much on fancy food alone!

 I do pretty much all of my grocery shopping at Walmart now (they're by far the low cost leader here) and I'm perhaps going through $250/month and probably half of that is for my excessive soda consumption.
 Used to go through less then $200/month in Iowa but we had low-cost grocery stores in Cedar Rapids (Save-A-Lot and Fareway BOTH consistantly beat Walmart pricing on almost anything I bought regularly - Save-A-Lot REGULAR pricing on Pepsi products in particular was often beating SALE pricing out of any other store in the area).

 I doubt I could live on $500 a month - but $700 *NOT* counting electric to feed my miners is more than my budget has been most of the last decade, living BY MYSELF in my own home (or currently my side of a rental duplex) with ZERO income from any government program (unless you count using my VA medical benefits instead of having to pay crazy rates for ObamaCare).

 No, I do not farm - I don't even garden.

 I just don't waste a lot on excessive fancy and call it "very modest".


 Oh wait.
 Make over 100k a year.
 No wonder you can't believe folks can live comfortably on a lot less, you're probably in a VERY HIGH COST OF LIVING area like NYC or most of Southern California where 50k/year is bloody near poverty wages.

 I do have to wonder what you consider a "very modest 2 bed 2 bath apt" - I've never SEEN a 2 bedroom apartment that sported 2 bathrooms unless it was double or MORE the cost of a low-end 2 bedroom apartment for the area, AKA not even close to being "modest".
 Over or under 800 square feet?

[QuintLeo]

A couple of gross details to point out.  Hopefully you can correct me or correct yourself.

$1k / month  ??  

Who can or will live on a $1k a month ?

 I spent almost a decade living on less than $9000/year.

 To be fair, I owned my mobile home - but I got it for $2500 early on in "The Great Recession" and turned around and sold it for $8000 about 8 years later with no more than a "fix what went wrong with it while I was in it" into it.
 Even had I had to invest the $8000 into it instead of the $2500 I got it for, it still would have cost me less than $100/month had I gotten NOTHING out of it in the end - instead I made a PROFIT on it (and that profit is a large part of what financed my move to Washington State and the expansion of my cryptomining farm last summer).

 I didn't pay income taxes - both Iowa and the Feds did not require income taxes to even be FILED if you made $9000 or less a year all of those years - and since I never owed income taxes, I could claim "exempt" and not have taxes taken out in the first place.

 I rode the bus most of that time. I did get benefit from a "low income" program from the bus system, but that only saved me $15-$20 a month in the months I was working so it wouldn't have been a major issue had the program not existed and all of those years I'd STILL have been under $9000 a year even if I counted the savings from the "low income" program as income (the last year it *might* have tipped me to just over $9000 - but I'd have STILL been under the Federal "no tax" threshold due to inflation adjustments - since the savings didn't count as income, it was a non-factor).

 Some of my income was unemployment - I was typically working a total of 5-6 months out of a year, on an intermittant work basis every year in that timeframe due to the nature of the work I did. The months I did not work I just paid for a $3 day-pass fare (STANDARD for that bus system, not discounted at all) for a once-a-week run errands and grocery shop run, and skipped the monthly pass.

 My food budget was around $200/month the last year, less before that as prices did increase occasionally.

 My lot rent was between $200 and $260 that entire time (mobile home living is CHEAP, an apartment of similar size would have cost me $400-$600 per month instead depending on the year).


 I could have gotten by on LESS than $500/month most of that time, had I been willing to go through the hoops and hassle to apply for food stamps.
 The last couple years would have needed more, between my expanding cryptocoin efforts (which I DO count in my income) and cost increases on the rent and electric rate increases.
 I did look into Section 8 at one point (does NOT cover mobile homes it turns out) but I quickly figured out t would have cost me more to live in a Section 8 apartment than to stay where I was at, I'd have been stuck in an apartment that was a LOT smaller, and they would not have covered the cost for me to move OR the cost of the storage place I would have needed for my book collection.



  Just because YOU are used to living very high on the hog on a 6-figure income and don't know how to economise doesn't mean NOBODY can manage it, and still live comfortably.

[wartimekillers]

my monthly wage are less than $500 and I'm an sales analyst, create complex sales reporting everyday working full time in a Bank, i have a wife and two kids, living regular life, Mining give me more than my monthly salary, so i can eat at restaurant, buy vehicles, and travelling.
Really hope i live in scandinavia, the salary and the black metal is good

[Sanguintan]

my monthly wage are less than $500 and I'm an sales analyst, create complex sales reporting everyday working full time in a Bank, i have a wife and two kids, living regular life, Mining give me more than my monthly salary, so i can eat at restaurant, buy vehicles, and travelling.
Really hope i live in scandinavia, the salary and the black metal is good

As long as your salary can support your life style, it is a good life.