Starting a mining business

[There]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

[adaseb]

Maybe see this first


https://bitcointalk.org/index.php?topic=1959495.0

[There]

Maybe see this first


https://bitcointalk.org/index.php?topic=1959495.0

Thank you, I read that thread. I still think there is some profit to be made with the rigs, the people are down to buy them. Each can pay over $3k.

[airbou]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

You need to figure out what you want to mine and I don't think you want to worry to much about ETH maybe x11 algo, scrypt, or x13.... or even some Crytonite algo...

[There]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

You need to figure out what you want to mine and I don't think you want to worry to much about ETH maybe x11 algo, scrypt, or x13.... or even some Crytonite algo...

The clients just want to mine whatever is the most profitable, I'm just wondering if mining would really be worth it for people that know nothing about cryptocurrency but want to learn about it.
They might be better off investing directly into the coins, but there is more money to be made by installing rigs for them.
There is also a problem regarding getting the GPU cards, need to find a way to get 470s and 580s.

[Marvell1]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

You need to figure out what you want to mine and I don't think you want to worry to much about ETH maybe x11 algo, scrypt, or x13.... or even some Crytonite algo...

The clients just want to mine whatever is the most profitable, I'm just wondering if mining would really be worth it for people that know nothing about cryptocurrency but want to learn about it.
They might be better off investing directly into the coins, but there is more money to be made by installing rigs for them.
There is also a problem regarding getting the GPU cards, need to find a way to get 470s and 580s.

unless you have a direct line to the gpu suppliers like the big farms do you should build the rigs with 1070s or 1060s
thos are only starting to go out of stock

[Juggar]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

Here's the thing, how are your morals/ethics? You can build these rigs and people will buy them because they want their "slice of the pie". Some of them may become jaded after awhile especially if they see they are hardly making their money back over the next 6 months.

I dunno, just make sure you let them know that this is a very volatile thing and that no success can be guaranteed.

I'd use 1060s and 1070s before they too get gone. RX cards are a very bad choice at this time. They are NOT future proof in either 4 or 8 gg capacity. Nvidia cards are future proof provided you buy 6GB 1060s

[adaseb]

If you want some good business advice. And this is coming from someone with years of business experience. My advice is that you don't get involved with other people's money.

All is fine as long as they end up making a profit. However what happens if they don't? You will have huge headaches. Its better just staying out.

Build your own rigs, give them maybe some instructions or links to Youtube videos or forum threads, but let them take the risk themselves.

You are basically gaining nothing but risking everything.

[Jamievs]

I have a lot of people that want to invest in mining rigs in my city, over 20 people.
I am looking for someone that has lots of experience in mining, that can help me with the parts and everything.
Would this also be profitable for the clients? Since ETH will be turning to POS and mining might not be as profitable.

I'm sorry but based on the nature of your question the only sensible thing to advice is to not do it. Seems like you have no idea what it takes. Basically the added value you have for your customers is that you have a bitcointalkaccount and they don't. It just boils down to "gimme your money, I'll google all this shit for while you pay all the learning money and also pay for all the trial and error.  That is not a solid business plan.

PS: This might sound harsh but, coming from an above average experienced businessman, it's the truth.

[yslyung]

If you want some good business advice. And this is coming from someone with years of business experience. My advice is that you don't get involved with other people's money.

All is fine as long as they end up making a profit. However what happens if they don't? You will have huge headaches. Its better just staying out.

Build your own rigs, give them maybe some instructions or links to Youtube videos or forum threads, but let them take the risk themselves.

You are basically gaining nothing but risking everything.

AGREEEEDDDDDDDDDDDDDDDDDDDDD 9999999999999999999999999999999999999999999999999999999999999999999999999999999 99%

totally RIGHT so god damn right mate.

BEST is NOT to handle other people's $.

but 1st, learn how to build your own rig 1st & i do believe you would have a hard time even to source parts just to build a simple ghetto shoe rack rig before even getting into much more issues related to mining.

always easier said than done.

[Bare]

If you want some good business advice. And this is coming from someone with years of business experience. My advice is that you don't get involved with other people's money.

All is fine as long as they end up making a profit. However what happens if they don't? You will have huge headaches. Its better just staying out.

Build your own rigs, give them maybe some instructions or links to Youtube videos or forum threads, but let them take the risk themselves.

You are basically gaining nothing but risking everything.

AGREEEEDDDDDDDDDDDDDDDDDDDDD 9999999999999999999999999999999999999999999999999999999999999999999999999999999 99%

totally RIGHT so god damn right mate.

BEST is NOT to handle other people's $.

but 1st, learn how to build your own rig 1st & i do believe you would have a hard time even to source parts just to build a simple ghetto shoe rack rig before even getting into much more issues related to mining.

always easier said than done.

+1

why not buying long alts or something, it's more profitable and less headaches

[szafa]

I am going buy lots of alts and sold with max profit.

[solidity]

The clients just want to mine whatever is the most profitable, I'm just wondering if mining would really be worth it for people that know nothing about cryptocurrency but want to learn about it.
They might be better off investing directly into the coins, but there is more money to be made by installing rigs for them.
There is also a problem regarding getting the GPU cards, need to find a way to get 470s and 580s.

Better to invest directly in coins. The difficulty increases so fast.
A month ago when I started thinking of building a rig, calculation showed that I could get 5 Eth per month. But now only less than 3 (and it is pretty accurate). Essentially the Eth you can get will be probably almost halved every month until some point it is not profitable anymore.

a calculation:
＊ if you buy Eth with $3000, you can get 8.57 eth now.
＊ If you build a rig and assuming each month you get 60% Eth of the previous month: you get 3 the first month, 1.8 the second month,1.08 the third month, 0.648 the fourth month... guess how much you will get at the end of the world? 7.5 eths! And you have to pay the electricity bill.

[Golftech]

If you want some good business advice. And this is coming from someone with years of business experience. My advice is that you don't get involved with other people's money.

All is fine as long as they end up making a profit. However what happens if they don't? You will have huge headaches. Its better just staying out.

Build your own rigs, give them maybe some instructions or links to Youtube videos or forum threads, but let them take the risk themselves.

You are basically gaining nothing but risking everything.

AGREEEEDDDDDDDDDDDDDDDDDDDDD 9999999999999999999999999999999999999999999999999999999999999999999999999999999 99%

totally RIGHT so god damn right mate.

BEST is NOT to handle other people's $.

but 1st, learn how to build your own rig 1st & i do believe you would have a hard time even to source parts just to build a simple ghetto shoe rack rig before even getting into much more issues related to mining.

always easier said than done.

+1

why not buying long alts or something, it's more profitable and less headaches

that's right instead of investing with something that you are not really capable with or something that you really don't have enough knowledge better to invest with alts and learn how to trade, since that you are holding investment coming from other people and learning how mining works will take some time so much better to learn trading instead.

[TrumpD]

Setting up an eth mining rig could be painful process for a complete noob. Using other peoples money will definitely complicate your life. Maybe you can advise them to buy and hold then educate yourself on how to set up a rig, master it, before going in that direction.