Mining into the future

[carvincam]

Hello everyone is this is my first post. I've been investing in cryptocurrency and am a new miner. I am considering upscaling my operation. Needless to say there are obvious risks involved. I am curious to know if there is anyone else out there who has successfully made a living off of mining, are continuing to do so, and what their outlook is for the future.

Thanks.

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[rem26]

I wouldn't feel obligated to do it just because you believe in blockchain.


I don't think a 50k investment justifies a move of your family or changing your day job, 50k is like 25 antminers if infrastructure is free, or say, 15-20 GPU rigs depending on the cards involved.  Neither pays the bills for most people and returns an ROI to the investor at the same time.

[xxcsu]

At roughly $850 per card, a $50,000 investment in GPU rigs would equate to roughly 50x1080 Ti's, including all other components and hardware to run the farm (rough estimate).

1st ... There is a word wide GPU shortage ... I dont think you can buy 1080Ti cards for 850$/cards ... those cards are way over a 1000$ without taxes ... and the limit is one-two card/customer right now , its not going to be easy to get that 50 cards ... as of today February 1 - 2018

2nd ... you still need racks , pdu's , surge protectors , network switches , wiring , cooling equimpent , framing , if you want to build a rigs with customer grade psu , those psus price are crazy high also , those psus price doubled in the past few months ...  400-1000$...

3rd ... If you building your business from someone else money,  and risk your family future, based on what whattomine.com telling you , you are a idiot ( sorry ) , you going to be one of those members on the forum who is coming back and asking questions like : " WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TOLD ME ", none of those calculators dealing with difficulty increase  ... there is a great reading for you  HERE

4th ... If its not your money , go for it  

I don't think a 50k investment justifies a move of your family or changing your day job, 50k is like 25 antminers if infrastructure is free, or say, 15-20 GPU rigs depending on the cards involved.  

You can not get 25x  S9 from $50k - as of today February 1 - 2018
Last time Bitmain was selling Antminers it was $2320  / S9 , you still need a psu , and pay for shipping ...
Shipping to USA from China for 20 x APV3++ psu with fedex is around 500-600$ + custom fees if you get any
Shipping to USA from China for 20 x S9 Antminer with fedex is around 1100-1200$ + custom fees if you get any
And you have to make sure you have 35KW available and you can deal with the heat and noise

So ... 20 x S9 going to cost you $2320x20=46400$ + 1200$ shipping + Psu $105x20=2100$ + shipping 600 Subtotal: 50300$

20x S9 13.5TH/s going to give you around 270TH/s...

[leonix007]

I am interested on the move you will take just in case you pursue this and after a few months you get yourself nothing but a loss, mining is not always profitable as it  should, what would be your next plan with it.

[jillscarbrough]

at this points,you must detailed the management. because the mining process many complicated moreover you use other people money. you must think about durability RIG such GPUs, what coins should be mining.

[McWinston]

Everytime you want to start mining please recognize, what is more profitable:

Mining a Coin or buying a coin...

the past told us, that mining isn't more profitable as HODL... but, nevertheless, nobody knows, whats comming in the future.

[NC Miner]

I will tell u my story...  

Just made a ring with 4x 1070 ti of Zotac, the whole system did cost 2.485 euros.
Its card is giving average net profit of 3 euros per day.
The Index of return on equity is at 136%, that mean that for 1 euro u are getting back 1,36.

What you want to be sure is that nothing will go wild down in the next 4 months, (you can sell the hardware and reduce the losses).

For me it worth, but do it slowly.

1st invest 10.000
2nd invest 20.000
3rd invest 20.000

and go for GPU's because of the resell safety.

[dhouse]

start slowly and ramp up. it's not as simple as $50k = x amount of mining rigs = x amount of profit. There are potential issues you'll have to overcome, with hardware, software, electric, physical location, crypto price volatility, and many others.

[xxcsu]

1st Yes, there is a worldwide GPU shortage, and yes it is difficult to buy them right now. But you can actually find them if you know where to look. I just bought a 1080ti yesterday for $799 from newegg. And from what i've been told if you have a massive order of 50+ 1080ti GPUs you can call directly to a manufacturer and make a private order.

Good Luck  

Nvidia Wants To Fix GPU Shortage By Asking Retailers To Limit Sales To 2 Per Customer.

Nvidia Calls for Limits as Crypto Hysteria Pushes GPU Prices Sky High

There is a few more article about the current nVidia vga cards situation