passive income.

[Nhazwrath]

I'm not really sure where to stick this.  It is alt coin mining related. 

The article that I'm about to put a link to,  is from The Motley fool.  They're claiming a 28 dollar per day passive income from a specific stock.  It's awesome I have no trouble with their logic.  My problem is investment amounts.  From their own article it takes 176,000 invested in this specific stock before it'll pay off $28 a day in dividends https://www.fool.ca/2021/06/01/passive-income-how-to-easily-make-28-a-day/

I would like to compare this to a $4,000 mining rig.   If you people are willing drop your various rigs and frankenrigs as comparisons.   

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[Ceyflix-Rez]

A 4000$ mining rig today can't net you 28$ per day but it's more realistic than what any website may have promised you because if return from centralised entity is too high it's probably a scam, with 4000$ spent on GPU you can make 10$ per day excluding electricity costs. I used a single RTX3090 GPU here

[buraz11]

Bought 6x  3060ti for less than 4000 canadian before the prices went sky high, they paid out in 4 months approximately and now making about 0.3 eth a month with 360 mhs

[mak013]

You can buy used GPU. It will be about 300MH for $4000 if you are lucky. Today it can bring you about $20 without electricity bill. I cann`t calculate correct because it depends on GPU model, but i think it will be about 1KWt.
So calculate it by yourself. And you have to test GPU yet or pay to specialist that can test it. And construct and configure rig.
I cannot say that this is passive income.

[batsonxl]

If you can buy cheap at least +50-100$ msrp then go ahead but myself wouldnt buy mining rig right now for 2x-3x prices. Make research price range for gpus. Because there is risk that you can loose half of your money for long period of time if it is not problem loosing then go ahead. or you can wait month and compare prices today and 1 month ago. If it is cheaper now it means market is low demand now. For example i compare prices now and last month price getting lower.

[Inkdull]

You can buy used GPU. It will be about 300MH for $4000 if you are lucky. Today it can bring you about $20 without electricity bill. I cann`t calculate correct because it depends on GPU model, but i think it will be about 1KWt.
So calculate it by yourself. And you have to test GPU yet or pay to specialist that can test it. And construct and configure rig.
I cannot say that this is passive income.

Seriously? Can you please tell me where you can get used RTX GPUs because I don't see one available on any online stores, I bet they aren't available anymore because the demands on GPU is pretty high still, some are even buying Laptops to mine right now

[elda34b]

Seriously? Can you please tell me where you can get used RTX GPUs because I don't see one available on any online stores, I bet they aren't available anymore because the demands on GPU is pretty high still, some are even buying Laptops to mine right now

It depends on where you live tbh. In my area, you can find one for nearly 3x of MSRP, so buying right now is still risky. I'd rather wait next year even if the market is not that good anymore, at least I don't spent 3x times more to get a card worth $1k.

[cabron]

Stay away from stocks, its all falling these days so it won't be long they won't be sending you $28/day for it.
Mining instead will be but the electricity cost is the one that you'd be dealing after. How many GPUs can you buy with $4000? I would assume 5 at least and start mining.

You can buy used GPU. It will be about 300MH for $4000 if you are lucky. Today it can bring you about $20 without electricity bill. I cann`t calculate correct because it depends on GPU model, but i think it will be about 1KWt.
So calculate it by yourself. And you have to test GPU yet or pay to specialist that can test it. And construct and configure rig.
I cannot say that this is passive income.

$20 is a decent amount in the South. It's the durability of the GPUs that you will need to worry about when mining because without proper maintenance and cooler, it will give up and you not achieve a breakeven.

[Nhazwrath]

Id like to thank everyone for their replies so far,

I started acquiring gpus back in dec last year.  All but 2 have already paid for themselves.  That last two, one I managed to acquire brand new and it will pay off in 1 and 1/2 months and the second I acquired paying only crypto elec costs for that cyrpto was about 200 so its payoff is aprox another 1 1/2 months.   paid 600 fiat.  but finding anything at all that's a reasonable deal is rather hard.   I've been managing only 1 card per month at a non insane price.

I am actually going to run in to a load problem soon at my house.   I have a rather old house and loading it down on a very old 60 amp actual fuse panel(no breakers) is unwise.  My next upgrade will have to be an upgraded panel and service.

my current daily avg is 18-24 CAD.  

And I am now in a Holding(and Hodling) pattern due to needing a panel upgrade and seeing what happens with ETH and 1559.  

[Bitbtc8]

It's only a matter of time, crypto won't keep surging and mining won't keep profitable at all time so wait for next red market to buy GPU and keep mining with what you have on ground right now

[Byakuga]

Add more GPU if 25$+ is your daily aim OP, don't go and fall victim to HYIP websites that promise too good to be true offers, ETH mining is slowly recovering once again I guess this year bull market will be the strongest one we've seen yet

[FP91G]

I'm not really sure where to stick this.  It is alt coin mining related. 

The article that I'm about to put a link to,  is from The Motley fool.  They're claiming a 28 dollar per day passive income from a specific stock.  It's awesome I have no trouble with their logic.  My problem is investment amounts.  From their own article it takes 176,000 invested in this specific stock before it'll pay off $28 a day in dividends https://www.fool.ca/2021/06/01/passive-income-how-to-easily-make-28-a-day/

I would like to compare this to a $4,000 mining rig.   If you people are willing drop your various rigs and frankenrigs as comparisons.   

And since when has investing in stocks started to generate a constant income?
I believe in an income of 8-14% per annum when investing in stocks, but this does not mean that if in the past 10 years there was such an income, then in the next 3 years the income will be similar.
Probably it is worth reading what is written in small print in the user agreement.

[FireBallex]

Stock investment takes years to make reasonable amount of money from unlike crypto mining that daily income in guaranteed, there are not on same league if you ask me and even stock investors are running into crypto investment right now

[adaseb]

$28 a day is $10220 a year and from $176000 invested it yields only about 5% or so. There are many other dividend paying stocks that give this much. I think the SPY (SP500 ETF) also has a similar yearly dividend and its much much safer than buying some stock being pumped by Motley fool which usually only gives bad advice.

Right now since you got the GPUs keep mining, nobody knows how much longer it will be profitable. Might be 6 more weeks or 6 more months. Just enjoy the profits while they last. The big blow is DeFI and those fake doge clones which drove the gas prices thru the roof, now its like 20 Gwei for a fast transaction. Thats why mining profits are down.

[Nhazwrath]

$28 a day is $10220 a year and from $176000 invested it yields only about 5% or so. There are many other dividend paying stocks that give this much. I think the SPY (SP500 ETF) also has a similar yearly dividend and its much much safer than buying some stock being pumped by Motley fool which usually only gives bad advice.

Right now since you got the GPUs keep mining, nobody knows how much longer it will be profitable. Might be 6 more weeks or 6 more months. Just enjoy the profits while they last. The big blow is DeFI and those fake doge clones which drove the gas prices thru the roof, now its like 20 Gwei for a fast transaction. Thats why mining profits are down.

I dragged that article out not because I utilize the motley fool.  It comes across my phones news feed. 17 years before that rate of return pays off!  I was trying to go somewhere with the thread not just a easy calc question.

Companies generally have a product of some sort.   While crypto is a service industry of sorts.  Are they going to have to compete for investment money.  Now I KNOW there's a lot of investment money running around looking for places to go but faster is almost always perceived as better

I am wondering if companies are going to be forced to change how they run and pay out investments.   if Crypto is here to stay why they hell would anyone invest in their companies with such horrible rate of return?  How would banks handle that?  Would banks and business be forced to have crazy short payoffs?


BTW I don't think banks are going anywhere.

[mak013]

Seriously? Can you please tell me where you can get used RTX GPUs because I don't see one available on any online stores, I bet they aren't available anymore because the demands on GPU is pretty high still, some are even buying Laptops to mine right now

Try to search. I find several telegram chats with sellers, there are several websites with used electronics. Look around you.

You can buy used GPU. It will be about 300MH for $4000 if you are lucky. Today it can bring you about $20 without electricity bill. I cann`t calculate correct because it depends on GPU model, but i think it will be about 1KWt.
So calculate it by yourself. And you have to test GPU yet or pay to specialist that can test it. And construct and configure rig.
I cannot say that this is passive income.

$20 is a decent amount in the South. It's the durability of the GPUs that you will need to worry about when mining because without proper maintenance and cooler, it will give up and you not achieve a breakeven.

For different countries $20 costs different, but in any country you get the same money from mining.
Of course you have to make different things for mining. Cooling, maintenance, protection, electricity and internet problems, etc. As i said - mining isnt passive income - this is a job.

[Samayuki]

Seriously? Can you please tell me where you can get used RTX GPUs because I don't see one available on any online stores, I bet they aren't available anymore because the demands on GPU is pretty high still, some are even buying Laptops to mine right now

Try to search. I find several telegram chats with sellers, there are several websites with used electronics. Look around you.

You can buy used GPU. It will be about 300MH for $4000 if you are lucky. Today it can bring you about $20 without electricity bill. I cann`t calculate correct because it depends on GPU model, but i think it will be about 1KWt.
So calculate it by yourself. And you have to test GPU yet or pay to specialist that can test it. And construct and configure rig.
I cannot say that this is passive income.

$20 is a decent amount in the South. It's the durability of the GPUs that you will need to worry about when mining because without proper maintenance and cooler, it will give up and you not achieve a breakeven.

For different countries $20 costs different, but in any country you get the same money from mining.
Of course you have to make different things for mining. Cooling, maintenance, protection, electricity and internet problems, etc. As i said - mining isnt passive income - this is a job.

How is mining a job? You don't want to do anything and earn money? Lol is mining working under a boss or company? Do you have to answer Yes sir to someone to get paid? You are the boss of yourself and you are the one to decide how much you will be earning everyday, mining is far marginal to job

[FP91G]

How is mining a job? You don't want to do anything and earn money? Lol is mining working under a boss or company? Do you have to answer Yes sir to someone to get paid? You are the boss of yourself and you are the one to decide how much you will be earning everyday, mining is far marginal to job

I don't understand your sarcasm. Of course you don’t have to say "Yes sir" and show up for work at 8:00.
But you need to solve a lot of problems in setting up, maintaining, renting and the main problem - the safety of your equipment.
Video cards are very expensive, and any information that you have a lot of video cards may become known to thieves or scammers.

[skablast]

Passive income is earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved.

So, unless you will purchase a stake in an exixting farm, I will not consider mining a passive income.
Staking ? probably.
Mining,at amateur level ? not so much

[adaseb]

$28 a day is $10220 a year and from $176000 invested it yields only about 5% or so. There are many other dividend paying stocks that give this much. I think the SPY (SP500 ETF) also has a similar yearly dividend and its much much safer than buying some stock being pumped by Motley fool which usually only gives bad advice.

Right now since you got the GPUs keep mining, nobody knows how much longer it will be profitable. Might be 6 more weeks or 6 more months. Just enjoy the profits while they last. The big blow is DeFI and those fake doge clones which drove the gas prices thru the roof, now its like 20 Gwei for a fast transaction. Thats why mining profits are down.

I dragged that article out not because I utilize the motley fool.  It comes across my phones news feed. 17 years before that rate of return pays off!  I was trying to go somewhere with the thread not just a easy calc question.

Companies generally have a product of some sort.   While crypto is a service industry of sorts.  Are they going to have to compete for investment money.  Now I KNOW there's a lot of investment money running around looking for places to go but faster is almost always perceived as better

I am wondering if companies are going to be forced to change how they run and pay out investments.   if Crypto is here to stay why they hell would anyone invest in their companies with such horrible rate of return?  How would banks handle that?  Would banks and business be forced to have crazy short payoffs?


BTW I don't think banks are going anywhere.

The reason is due to risk.

Crypto is very new. Nobody knows if it will exist 10 years from now. Take a company like Mobil1 or Pfizer, they pay small %'s dividends however chances are that in 10 years they will still be around, crypto companies, who knows if they will exist.

The safer investments like stocks or savings accounts pay out very little interest but they are much safer than say investing in some new crypto company that can go to 1000% or they can go bankrupt and you are left with 0%.