Mini GPU miner for households

[salami123]

Hey all,

Wanted to see what you all think about this.
I am a hardware engineer, have always been in the computer and server hardware since my middle school years. Worked for a big local company for about 10 years assembling and somewhat designing their servers, then moved and started my own small company assembling database servers and high end computers and selling them.

When the crypto mining boom began, at one point I was helping build miners and optimizing them for people, and then an acquaintance of my buddy, which later sold his business and became known as Gigawatt. I got too excited and dove deep into blockchain world. My server and PC building company wasn't doing well, so I left it for full time building of mining servers.

Later in 2018 Gigawatt and many other companies went out of business... so did I, too quickly for me.

I then noticed that mining isn't so dead. Throughout all this time I have always dreamed of building a more affordable miner for people to be able to place in their homes without isolating it to a garage or somewhere due to their ugly looks and noise or high power requirements.

I go to start making one end of last year. Built a few prototypes and they worked great. There is one more company that I noticed has gained some traction even in the venture capital world. They're called Coinmine. One of their products is Coinmine One which is on Pre-Order https://coinmine.com/products/coinmine?variant=9716777025583

I decided not to give up and made a deal to sell through a local online retailer, AlsoDirect. Still in the beginning steps to some serious sales, but I hope this gains some traction. Though their design looks better, I think my version has better performance for the dollar and I can adjust quickly adding new features and developing an app for managing your miners better remotely.

Would love to hear your thoughts and recommendations on how the idea of making it a household miner would work.

You can check out my household miner and a few others here:
https://alsodirect.com/products/bitminer-grin29-mini-grin-gpu-miner-for-home-mining-grin-beam-and-more

Cheers!

[salami123]

GTX 1070 x 2 = $600 on newegg.  The rest of the unit sounds like a $99 PC with a $90 power supply.  Looking at about 3.5-4 years to pay this off after electricity costs at current crypto rates, and that's if you aren't fighting with an air conditioner in the summer months.  Sorry bro; GPU mining rigs are a hard sell these days.

The components are worth more than that actually, unless someone likes to scout used and untested parts on penny auctions on eBay. And then putting and setting it all up together to work properly and stable. I'm not to defend that here though... You are right, someone who is techy can put together a rig themselves, that's always been a case even for a desktop PC that's sold at a store.

But mining, isn't it more about speculative reasons? Instead of buying into crypto you buy yourself hardware that's versatile and holds it's value. Therefore hedging your investment against volatility on the market. With the hardware you mine and produce crypto that you can risk holding, buying other coins, re-investing, etc, sometimes being able to mine projects that have big price hike potential. It's more a diligent and long term game rather that passive mining. At least that's what I've learned from the big guys that mine with their farms. Their strategies seem to work because most of the hardware paid double for itself already even with the markets being where they are.

Also, GPU miners have their own advantages over ASIC's. First, you can only mine one algo with an ASIC. Second, you purchase an ASIC and by the time it's shipped to you the hashrate is higher than what you would have if you got the ASIC right away, making your returns even lower. Yes, the ROI on an ASIC could be shorter, but it's useless after that because the hashrate is up there in the sky. So basically you're just paying for an ASIC in hopes for it to produce your money back to you.

Just MHO. Others may not agree with me, but I've seen the results of properly followed strategies and they've taught me a lot.