Question About Mining Returns

[libert19]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

[1715065127]

1715065127

[miner29]

He got in at the wrong time.  If he would have built his rig in 2019-2020 he would have had about 3k in the rig and roi would have been 90 days or less in 2021. 

Timing is everything.

[Bitfort]

I agree the main reason is that he entered the game worst time possible ( ETH price pump made lot of new miners FOMO and starts buying overpriced GPUs ... ).

On the other hand if ETH or raven price doubles (and he keep mined coins to that point ) he can ROI much earlier. Should the price tripple ... and so on.
It's not only about mining itself, there's also asset management involved. Luck and market knowledge can have significant impact as well (selling at right time).

[swogerino]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

In theory it is autopilot income,as that is after 2 years.In 2 years everything can happen and that is a really long term to ROI.I entered again the mining game in February 2021 and right now in early September we earned back most of our new GPU-s investment because we bought 5 GPU-s at the price of like 6000 USD in total,based on such data during late November we will have get full ROI and then whatever happens we don't care.We were lucky because during this time most of the time the price of Ethereum was higher than 2500 dollars and we kept accumulating.So even management plays a vital role in any mining activity no matter how small it may be.

[HardCore12V]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

This is so unbelievable, I have 11 GPUs and I'm making 28-30$ per day, all these GPUs costs me 6000$ and I bought them a month and two weeks ago, how the hell did your friend spend 22k USD to earn 30$ per day? 22k should build him rigs that can bring 120$ per day even if he go for the most highly price GPUs like RTX 3080s and 3090

[Bitbtc8]

With free electricity or extremely cheap electricity you will be set for life mining crypto even if bear market gets here, the reason why many stop mining in bear market is they can't even pay for electricity bill again due to loss in crypto value, same thing can happen again for sure but it won't be like 2018, crypto is 10 steps better than what it was in 2018

[fmz89]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

Yup you missing alot heheh 7 gpus only cost under 7K$ and make around 30$, assuming electric price arround 0.1$ and yeah mining is like farming, if you sell instead each day, your calculations is right, better hold it you earning at bullrun and dump at peak, and when bear market, sell each days is considered safer bet

[adaseb]

Mining right now is EXTREMELY difficult compared to late 2013 and early 2018. I remember back in late 2013 you could get a R9 280X for like $400-$450 CAD, and the GPU made around $7.50CAD a day, so your ROI was like 2 months.

Later in 2017 early 2018, it was the same story with the RX 4xx/5xx GPUs, they cost like $250 CAD and you made like $5/day/gpu with them, so your ROI was 50 days.

Now the ROI times are crazy high and I think most people are either betting on the fact that ETH goes to $10K or that their $1000 GPU will depreciate slower than their revenue. However nobody knows what top ETH will hit and who knows how much these GPUs are going to be worth when ETH goes POS sometime in the future.

Now is not the best time to start mining really.

[TheMimic1]

Mining right now is EXTREMELY difficult compared to late 2013 and early 2018. I remember back in late 2013 you could get a R9 280X for like $400-$450 CAD, and the GPU made around $7.50CAD a day, so your ROI was like 2 months.

Later in 2017 early 2018, it was the same story with the RX 4xx/5xx GPUs, they cost like $250 CAD and you made like $5/day/gpu with them, so your ROI was 50 days.

Now the ROI times are crazy high and I think most people are either betting on the fact that ETH goes to $10K or that their $1000 GPU will depreciate slower than their revenue. However nobody knows what top ETH will hit and who knows how much these GPUs are going to be worth when ETH goes POS sometime in the future.

Now is not the best time to start mining really.

You are right but majority don't care how long ROI is going to take them, after ROI it's free money until GPUs can't keep up anymore, rx580s have lasted many years now, the reason why many stop mining is because they have high electricity bill, a year or two is something I can keep up with to get my ROI back

[FP91G]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

If his money is in the bank and does not bring profit, then this is a good investment, although not the best one.
He shouldn't be selling the secured cryptocurrency right now, but jing the rise in prices. If the Bull market continues for another six months, then during this time it will recoup half the cost of the equipment or more.

[libert19]

I visited a guy, he mines ethereum and raven with 7 gpus. Investment was about 22k usd and he gets about 30 usd a day.

Looking at it, it will take 2 years and then it's autopilot income. What am I missing?

...although not the best one.

What would be the best one?

[Looper_U]

Your friend probably lied about spending 22k on GPUs, a single gtx1660super costs 500$ right now, it was 430$ last week but due to crypto bull run the price are surging again, assuming you buy each for 500$ you will be able to get your hands on 40x 1660super and that's approximately 20,000$, 40 pieces of gtx1660 super will give you 1,200MH that's 1.2GH and this will give you 104$ per day/ 3134$ per month 🤷🏽‍♂️

[OgNasty]

First off, the exchange rate volatility makes any income estimation a fool’s errand when it comes to crypto. Secondly, your friend could just be including electricity costs in his calculation. Finally, a two year ROI is a 50% dividend yield on your investment. That’s more than 25x what the most popular investments are currently yielding. If you are able to get that return when all is said and done, you’re doing very well for yourself.

[adaseb]

Mining right now is EXTREMELY difficult compared to late 2013 and early 2018. I remember back in late 2013 you could get a R9 280X for like $400-$450 CAD, and the GPU made around $7.50CAD a day, so your ROI was like 2 months.

Later in 2017 early 2018, it was the same story with the RX 4xx/5xx GPUs, they cost like $250 CAD and you made like $5/day/gpu with them, so your ROI was 50 days.

Now the ROI times are crazy high and I think most people are either betting on the fact that ETH goes to $10K or that their $1000 GPU will depreciate slower than their revenue. However nobody knows what top ETH will hit and who knows how much these GPUs are going to be worth when ETH goes POS sometime in the future.

Now is not the best time to start mining really.

You are right but majority don't care how long ROI is going to take them, after ROI it's free money until GPUs can't keep up anymore, rx580s have lasted many years now, the reason why many stop mining is because they have high electricity bill, a year or two is something I can keep up with to get my ROI back

I think what most people are doing is buying the equipment first and doing research after. Most people I know who asked about Crypto I told them, that you can buy the GPUs it will take maybe 6-9 months to get ROI on the GPUs and most people don't like that timeframe and they invest their money elsewhere.

I know many people who bought some GPUs, wanted to mine Bitcoin with it, and then they realized that you couldn't mine BTC with GPUs anymore. So I told them to mine ETH and they were upset that they only make like $2/day. They were expecting to make like $100,000 because after all "Crypto is a get rich quick scheme".