Passive income methods (GPU Mining included) {QUESTION!}

[Revolution]

I am aiming to make $1000 USD + a month via a passive income method.

Now BTC mining is dead, unless you get an Overpowered SHA256 ASIC.

I was thinking of building a Scrypt GPU mining rig, people say ASICs are coming out but they seem to be Salsa20/8 mods of the SHA256 rigs meaning they don't pump out a lot of hash/$.

For 3400$ I can make a rig with 4.2 Mhash/sec Scrypt.

Now most sites say that I can make 1000$+ profit out of most alt-scrypt currencies using that hardware, and that I can sell it back at 50%+ the original price (1700$+) meaning I should get a good ROI.

What do you guys think in terms of passive sources of income,
I am trying to do projects and would like a passive source of income easy to monitor and stabilize.


I would have up to 10,000$ to invest in order to earn 1000/month+

[Undone]

This really belongs in the altcoin mining section, but what the hell.

Now most sites say that I can make 1000$+ profit out of most alt-scrypt currencies using that hardware...

$1000+ if you're very lucky, and part of that luck includes the trading price of bitcoin going back up. Because you have to cash out in bitcoin.

...and that I can sell it back at 50%+ the original price (1700$+) meaning I should get a good ROI.

No, I don't think so. That was true a month ago, but probably not now. There will probably be a flood of used hardware that will be flowing into ebay soon that is going to lower that figure.

[cp1]

Don't forget the $250 / month in electricity costs.

[balanghai]

This really belongs in the altcoin mining section, but what the hell.

Now most sites say that I can make 1000$+ profit out of most alt-scrypt currencies using that hardware...

$1000+ if you're very lucky, and part of that luck includes the trading price of bitcoin going back up. Because you have to cash out in bitcoin.

...and that I can sell it back at 50%+ the original price (1700$+) meaning I should get a good ROI.

No, I don't think so. That was true a month ago, but probably not now. There will probably be a flood of used hardware that will be flowing into ebay soon that is going to lower that figure.

Which is a good business for all of use, a fresh surge of new miners and market players. Things are going well. And Gox is crashing down.

[Sonny]

...and that I can sell it back at 50%+ the original price (1700$+) meaning I should get a good ROI.

No, I don't think so. That was true a month ago, but probably not now. There will probably be a flood of used hardware that will be flowing into ebay soon that is going to lower that figure.

True.
But still, it is profitable to build GPU rigs to mine scrypt coins now.

[Revolution]

Hmmm interesting reply.

Yea the electricity cost will be high, I pay 0.2$/KW.

However I can sell the altcoins directly to their communities.

For example if I were to mine at  4260KH/s, with 2000 Watt power, 0.2$/KW.

Are these normal profits?

http://www.coinwarz.com/miningprofitability/litecoin/?hr=4260.00&p=2000.00&pc=0.2000&e=MtGox

Can I just switch currencies all the time and make a good passive earning?

[Undone]

Can I just switch currencies all the time and make a good passive earning?

No one can answer this question. It's a risk either way. You have to make the decision for yourself one way or the other to mine or to not mine.

The real question is, if you mine, is your counterpart out there who will enter the trading "market" that will buy the coins you're bringing to market?

[Revolution]

So any other suggestions as to passive income methods other than mining?

[kwest]

If you do it right: affiliate marketing.
Find a profitable niche with good products, find a reliable traffic source, create a good website and bring the traffic to it.

Once you find a winning recipe you don't have to do anything really. I used to make close to $1000/month selling guides for MMORPGs (World of Warcraft, Aion) and Starcraft 2. They weren't evergreen though so those niches eventually dried up. But my sites ranked #1-2 spot on google at the time and brought in some decent traffic, and my reviews converted customers.

Edit: oh, and of course.. if you're able to create a good product and find affiliates to market it for you.. that works too.

[Undone]

You can certainly go with scrypt mining, Revolution.

You also don't have to start out with 4 m/hash. Technically, breaking even is completely scalable - it's equally difficult, no matter how much hashing power you buy originally (all other things being equal). So you could start off smaller (which means less risk in dollars spent) and then add more GPU power if you do break even.

Just some thoughts.

[Revolution]

The rig I designed is 6 R9 280Xs, I could mod it for different cards though to save money.

Affiliate marketing is interesting, if you know a simple way of ranking on youtube pm me, since I am having trouble doing so since my view scripts got patched.

[kwest]

Sorry, not a Youtube expert.. and I've been out of the game for a while so I'm probably a bit rusty.
I recommend Wickedfire for services though... and thevault.bz for marketing information. Maybe there's a good course there that has something on youtube... or a user on their forum that knows something. Quite a few knowledgeable people there if you ask the right questions in the right place. They even have a Bitcoin thread.

[Revolution]

yea I know a fair bit about youtube, I will think about a nice way to invest the money then if not GPU mining.

[Waramp22]

Mine scrypt coins on middlecoin. The owner automatically converts all of the alt coins and pays you in btc at the end of every day. Set it up in your basement and let it run. You can check that its online with your cell phone, so unless it locked up you are making money. There is even a piece of hardware you can get that will automatically reset the setup in the event of a lockup.

[subcoin]

6 R9 280Xs

I wonder where you are going to buy them...
they are sold out everywhere in the world...

Also, 6 card rig is kind of unstable, at least in my experience.
Additionally, that would pretty much max out your standard 110V/20Amp home breaker.
Any extra, like microwave or hair drier and it will trip it off.

[Revolution]

the 6 card rig is with 2 motherboards, 2-4 PSUs, 2 Hard Drives, and 2 OSs.

I call it 1 rig because its in 1 specifically air cooled box.

Good idea with the alt pool that converts to BTC.

Also I know where to get R9 280Xs at around 400-440$.

[MisO69]

the 6 card rig is with 2 motherboards, 2-4 PSUs, 2 Hard Drives, and 2 OSs.

I call it 1 rig because its in 1 specifically air cooled box.

Good idea with the alt pool that converts to BTC.

Also I know where to get R9 280Xs at around 400-440$.

6 cards, 2 power supplies, 1 motherboard, 1 ssd, 6 USB powered risers.

you are buying too much stuff.

[Revolution]

1 motherboard for 6 cards? I don't know if they will be stable...

Either way do you guys think GPU Mining = constant passive income?

[brokedummy]

1 motherboard for 6 cards? I don't know if they will be stable...

Either way do you guys think GPU Mining = constant passive income?

No, You got all the scrypt asics coming out, more and more hashes and less and less idiots willing to buy the next worthless shitcoin in a never ending parade of shitcoins. The party is over, just buy a vending machine route or something.

[Revolution]

so what are good ways of earning passive income? Affiliate marketing?