Be a miner as a dayjob...

[bibyfok]

Hello guys,

I was wondering on something and need your input:
Let say you have 120*8GPU rigs (Big initial investment) -->1060/1070 you name it.

You would be almost sure to be able to mine the equivalent of 150$ a month/rig --> not talking about Eth, any altcoin.

With current hardware, do you think it would be sustainable to do at least 150$/day with a 8 GPU rig until at least mid 2018, with any altcoin?
Difficulty should not be a problem as the target is "only" to reach 150$ equivalent. Any possible way, switching currency, going NiceHash etc...

So it would be 120*150$= 18 000$/month

Thanks

[Gunna01]

Hello guys,

I was wondering on something and need your input:
Let say you have 120*8GPU rigs (Big initial investment) -->1060/1070 you name it.

You would be almost sure to be able to mine the equivalent of 150$ a month --> not talking about Eth, any altcoin.

With current hardware, do you think it would be sustainable to do at least 150$/day with a 8 GPU rig until at least mid 2018, with any altcoin?
Difficulty should not be a problem as the target is "only" to reach 150$ equivalent. Any possible way, switching currency, going NiceHash etc...

So it would be 120*150$= 18 000$/month

Thanks

As difficulty increases your return decreases, you could do it with enough upfront capital but at say $3000 per mining rig that is $360 000 for 120 rigs. Probably better return to buy and hold.

120 8 card rigs would earn more than $150 per day but that's a bit upfront investment to aim to make $150 per day. It would take 2400 days or 6.5 years to pay off at $150 per day

[hyet24]

You act like cards is unlimited.  Your also racing against time.  Difficulty and cards is out of stock and prices of the cards is increase.  I don't think it will last till December.

Like someone here said you treat it as a hobby.  It's like my hobbies I put 5k into camera equipment and nothing return.  I just have fun doing it.

I had tons of fun building computers.  I'm going to miss it when it end.

[bibyfok]

Please take out of the equation cards supplies.
Initial invest 300K
If I put 120 rigs online -->Any algo -->150$/month
150*120= 18000$
300000/18000 = 17 months

I know the difficulty is rising that why I say 150$ (I make way more than that today on eth) and talking about any altcoin, even Nicehash.
Eth is ephemeral as PoS will come but there is many other coins...

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

[dbc23]

Not terribly wise, it's a biiiig gamble.

[iamnewhere]

It's like gambling as you can make more money out of trading currencies than with mining them.

[Pennywis3]

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

Please, don't ask stupid questions noone has answer to, ok?

We can't see the future.

[Coin++]

Strictly impossible.

[target]

If its possible, people would have been investing their money on GPUs to mine ETH and ZEC. If I have the money to invest on GPUs I'd definitely be setting up mine at home and just lay around all my life but thats not possible wit hthe current GPUS, maybe if those supper computers are manufactured already.
18 000$/month  A bank manager don't even earn that much a month.

[h311m4n]

Strictly impossible.

It's not stricktly impossible. You could perfectly make a living out of mining if you're willing to take the risk to quit your current job for it. It's all about planing and knowing when to start/stop and understanding that all of this is still very volatile. For instance, I'm not entirely sure now is the right time to think about making this for a living. Too much uncertainty (ETH going to PoS, GPU shortage, too many people are mining. All this can't make you sure that you'll still have 18'000$/months in 3 months).

You just need to be really smart about all this. Also, mining is one aspect of the crypto, trading is another, and in contrary to mining, trading isn't for everyone (I personally am not a big fan of trading).

[Vaccinus]

you can perfectly make a livign from minign with current profit, the profit is very high now, even with oen rig in a poor country you can already make a living, there are risk, but the value will increase more when bitcoin segwit will be activated

[adaseb]

Please take out of the equation cards supplies.
Initial invest 300K
If I put 120 rigs online -->Any algo -->150$/month
150*120= 18000$
300000/18000 = 17 months

I know the difficulty is rising that why I say 150$ (I make way more than that today on eth) and talking about any altcoin, even Nicehash.
Eth is ephemeral as PoS will come but there is many other coins...

Do you think it is possible to maintain that level, when mining any altcoin/algo until Mid2018?

99% chance that its not going to be that profitable until Mid 2018, maybe till the end of the year however it might.

Let me put it to you this way

At the end of 2013, a Radeon R9 280X made about $10/day in Nov-Dec 2013. $7.50/day in Jan 2014. $5/day in Feb 2014. $2.5/day in March 2014, $1.50 in April 2014, in the summer of 2014, it made ~$1/day, at the end of 2014, it made $0.25/day.

Why? Because you are not the only one "thinking" of this idea and got money to throw around. You got competition.

[bibyfok]

Thanks for all your replies.

@adaseb, were you mining different currencies or just one? The market was vastly different: If I look at exchange rate at this moment, most money did not exist or were extremely low :/

@target: a bank manager did not invest 300k€ in his own bank.

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

[adaseb]

Thanks for all your replies.

@adaseb, were you mining different currencies or just one? The market was vastly different: If I look at exchange rate at this moment, most money did not exist or were extremely low :/

@target: a bank manager did not invest 300k€ in his own bank.

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

I was mining the most profitable currency at the time. Yes there is like 10x more market cap but there is also 10x more GPUs.

[Juggar]

Hello guys,

I was wondering on something and need your input:
Let say you have 120*8GPU rigs (Big initial investment) -->1060/1070 you name it.

You would be almost sure to be able to mine the equivalent of 150$ a month/rig --> not talking about Eth, any altcoin.

With current hardware, do you think it would be sustainable to do at least 150$/day with a 8 GPU rig until at least mid 2018, with any altcoin?
Difficulty should not be a problem as the target is "only" to reach 150$ equivalent. Any possible way, switching currency, going NiceHash etc...

So it would be 120*150$= 18 000$/month

Thanks

Guarantee you take at least a month from today to get the cards and the rigs set up.... what you're talking about is a huge gamble.

[Patatas]

you can perfectly make a livign from minign with current profit, the profit is very high now, even with oen rig in a poor country you can already make a living, there are risk, but the value will increase more when bitcoin segwit will be activated

What are you even talking about ? You clearly have no idea what this thread is all about.You cannot make a living from mining bitcoins in today's difficulty level.

How are mining farm making money? There is plenty of farm renting hash, I know that they are taking a bit more of what you are actually mining but I mean, they are running fine.

I tried to find some numbers to see how profitable are structures like Genesis mining but cant find anything.

-Those renting hash stuff is almost scam most of the times.The very large mining farms running individually are the ones making profit regardless.You stand no chance as a solo miner once the difficulty rises.

[bkbirge]

Guarantee you take at least a month from today to get the cards and the rigs set up.... what you're talking about is a huge gamble.

This. I'm a month and a half waiting for parts for a rig right now, from a supplier that was supposed to have the parts in stock. Unless you have a reliable supply with immediate access then calculate a month or 2 before being able to earn into your strategy.

[_javi_]

Buying the stuff is the easiest part..

how would you power and cool down almost 1000 gpus??? rigs are not for "set and forget".. mantaining 120 rigs is QUITE a job

[QuintLeo]

how would you power and cool down almost 1000 gpus??? rigs are not for "set and forget".. mantaining 120 rigs is QUITE a job

 To be fair, thread title IS "be a miner as a dayjob".

 I don't have 120 rigs - but I find that 20ish well-designed and built rigs aren't a HUGE pain to keep up with, and once I finish my recently-started "rationalization" effort it should be quite a bit easier.
 I can see 120 taking a lot more than an hour/day though. 9-)

[BTCBusinessConsult]

Take the money you want to buy rigs with and buy HMQ, Stratis, and Veritaseum. Then some BTC and Eth to put in cold storage.

Come back next summer to 50000% returns.