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Author Topic: What will you build with 10,000$  (Read 316 times)
michellee
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July 31, 2021, 03:34:07 AM
 #21


Correct. But at least you can calculate and make a simple plan from both mining and holding and compare it. First, you can try to buy one mining rig or hardware and run it in your home for at least 6 months. I think the cost will not be more than $5,000 so you still have the other $5,000.

You use the other $5,000 to buy bitcoin, ethereum or other coins which you think will increase in the next 3-6 months and just hold it. I assume you do not just buy all of the $5,000 at once and will spread for many order buy so you can get lower price every time you bought.

You will see which will give you more profit. Maybe the advantage of mining is that we can change the coin that we want to mine, but that will depend on how high the hardware specification we use to determine how much reward we will earn from mining.
You can buy any one mining farm for 1 purpose - to gain practical experience.
I have seen many newbies who bought farms, but these farms did not work for them for various reasons.
Now home mining is not very profitable due to competition
large mining companies.
I do not invest in mining now, because video cards and
powerful power supplies are very expensive. But I'm looking at the secondary market offers. These offers are not adequate, I can overpay 20% and buy new equipment in the store Smiley
If that is for practical experience, that will be okay as people tend to be curious about something new that they want. Those newbies are just following the mining trend and bought that farms and install it in their houses. Without calculating everything, it will be hard to profit because they need to know how much the expenses are before mining.

I already think about buying the secondary equipment, but then I realize that I cannot earn many rewards if I do not have a low electricity fee. Maybe I will try to search for how to build a solar panel in my home to reduce the electricity fee if I want to try mining.
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July 31, 2021, 08:29:09 PM
 #22

I would not invest all that money on mining rig most especially if im new to mining, there are still many things to learn to I suggest to start with two cards and keep adding bit by bit, also GPUs might get cheaper along the way because of better availability

stoniestfool
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August 06, 2021, 08:27:57 PM
 #23

anyone giving you advice without first asking you price of electricity should be ignored.
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August 06, 2021, 10:58:09 PM
 #24

I would not invest all that money on mining rig most especially if im new to mining, there are still many things to learn to I suggest to start with two cards and keep adding bit by bit, also GPUs might get cheaper along the way because of better availability
It depends on the amount of money you have to invest. Better to build a mining farm for 5 video cards.
Now there are a lot of options, and I would not rush to buy new video cards.
I do not think that home mining will die, but changing the algorithm on Ethereum will deprive many miners of profit.
My profit fell by 14% when mining Ethereum, but this data is only for 1 day

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