Buy $10k worth of mining hardware

>buy $10k worth of mining hardware
>$6000-7000 per month pure profit depending on energy rates
>the coins you mine will likely go up at least 3x in value by the end of the year so it's more like $20k/month profit

Literally anybody can do this. Why do people still wagecuck when crypto mining exists?

Any tutorials to create such big scale miners and how to mantain them properly?

I'm interested. Shill me on what to mine, friend.

>poverty

You just need a motherboard with 6 pcie slots, pcie risers, and some kind of metal frame to hold the gpu's like in the pic. Otherwise it's just like any normal pc build.

Please, even poor people can buy $10k worth of stuff with their credit card. They'll have it paid off within 2 months and will have paid a total of what, $200 in interest?

if you time your statements right you could potentially float like 45 days w/ 0%

wont the difficulty go up before ROI?

poor people can buy for 10k? lol. where the fuck you are living? wonderland?

plus we pay $0.29 / kwh here. not worth it.

So will the coin price. Also, there are lots of different coins to mine with varying levels of difficulty.

>tfw too unintelligent to be a miner

this looks really fun and profitable. So basically you just construct one big computer with lots of power? what are all those boxes that make up the majority?

is there a definitive guide to how to do EXACTLY whats in the OP? help a brainlet out

That's what you get for living in a socialist country. In America it's $0.10.

>In America it's $0.10

get on my level

Is this actually worth it?

Been looking into building one of these for the lulz and coins. Problem is that every single motherboard that is being recommended is either out of stock or not even listed at my shops. How can you check if a mobo is actually able to support 6 gpu:s as having 6 pcie slots isn't a 100% guarentee according to my current understanding.

yes but your mining at a loss for 2-3 months while you are making back your investment, also when it's such a bull market like this your probably better off just buying the coins

>t. someone who cashed out a week ago to buy a mining rig and then seeing the coins they sold double in value a day later

Where do you live? My town doesn't even have off-peak pricing.

What kind of coins would you mine? BTC? Or just shitcoins that get shilled on here

Post a link on how please.

bumfuck minnesota

What are some good AMD gpus to use? Do you really have to get the top tier cards?

>tfw still living with parents and can't do this

can i break into my neighbours house when hes not home and get a long extension cable and steal his electricity?

I don't understand why not... Just get all the details and numbers ready to propose to them and a timeline and when you can pay them back for the extra wattage.

Eth is super profitable, you can mine stuff like siacoin as well, feel free to mine your memecoin of choice and then make bank if it moons

oh yea its fucking plug in and mine right user?
Theres a whole bunch of bullshit you have to setup to get a efficent mining setup, plus all the fucking shitcoins you could choose from dont help at all

get one of those wallplug electricity monitors so you know exactly how much to reimburse them by

>feel free to mine your memecoin of choice and then make bank if it moons
This is where the real money is.

it takes like a day of research, and a day of building and configuring and there are plenty of tutorials available that hold your hand through the process, just mine Eth

Rent a garage from some old lady down the street and pay her electricity bill.

Since you seem to know, can you plz help this user and point me in the right direction with a link?

Ty user

You're a retard

How do I do that? 45 days? I thought it was one month.

yep just plug it into a battery too and you can save his energy for later

just type 'build ethereum mining rig' in google, there are plenty of video tutorials as well, sry i cant be more helpful, on my phone right now and cant see my history

>tfw I can do this and [spoiler]my parents are paying the electricity bill[/spoiler]

same deal with my university accommodation, prime time to mine

>8 rigs
>7,760 watts
How do you even manage equipment that sucks that much power? What kind of surge protection and power monitoring tools would you use?

This has to be too good to be true.

I always figured if you set up a mining rig in your dorm you'd get dinged eventually by the university for the abnormal power usage.

What's the popular usb mining OS for eth? I used to use pimp like 2 years ago and haven't followed since, but it was really convenient having everything work off of a usb stick instead of also having to have a HDD with windows / linux

I hear this also uses up very little bandwidth.

Really the biggest reoccurring cost is electricity, which is nothing compared to the profit.

I have been thinking about getting a 0% interest credit card and putting 3K down for a solid rig to start. Then once that is paid off, repeat. Use profits from the 1st rig in unison with the 2nd to pay off the 2nd even faster, then repeat again.

This is how most miners do it.

The most difficult part is getting the GPUs in time that can make you a profit. They sell out so damn fast.

Ty user, thats a good place to start.

Any additional advice you could provide once youre on a laptop/pc would be awesome.

I've got the capital to invest in a rig, and my building uses preset electricity rates based on sqft so I won't get charged. :)

If this thread is still locked, plz email me: [email protected]

There's just so much info out there to wade through, and i'm still getting a handle on what all means what.

If you help (and anyone else who does) I'll split 50/50 my first 30 days mining.

Let's say I bought/built a mining rig for Ethereum and Ethereum ended up crashing or some shit. Could I just mine something else with that rig or would the hardware be "configured" to only optimally mine Ethereum?

nah it would be good to go on almost any other coin

>tfw i live with my parents and they dont see it as any more than me doing my "computer stuff"

Alright. And should I build one myself or buy one from somebody? Building /seems/ easy enough, I've built like 3 computers before, but maybe there's something I don't know

so is it better to start with a multi gpu rig or an antminer s9? Which lasts longer, more efficient etc????

Is it posible to rice a truck and plug it anywhere? A mine set depends on gpu power or it depends in internet speed too?

I do mining on a very large scale. 1.5 Megawatts, only thing stopping me from acquiring more power is I need to wait about 3 months until the utility district gives me another transformer.

That picture you posted OP is about the max you can reach in a home setup. The issue you'll run into quickly when you scale in size is evacuating all of that heat out of the area. The open rack idea sort of sucks because the heat just sits on the cards.

Also make sure to not use more then 80% of your circuit's capacity. It can be really tempting to want to run all the juice you got but it's not fun seeing electrical panels overheat and go up in flames.

Its the hardware more important than internet capacity?

>your circuit's capacity
Could you explain this please? Is this just the amount your power supply is rated for? Or is this related to the household's circuitry?

If you actually look at the TCP packets your miner is submitting it's just a simple JSON-RPC message. Not really much of anything. I just checked my pfSense router and the entire facility is using 1.3 mb/s on the WAN and my tech is watching youtube videos right now and I am streaming music.

If you are in the USA your home typically has 110v 15 amp and 20 amp circuits on your wall outlets throughout your house.

110v * 15a = 1650 watts

80% of 1650 watts is 1320 watts. So you shouldn't load that 15amp circuit with more then 1320 watts unless you want to risk an electrical fire.

That is because a majority of electrical setups are rated for 80% continuous load. Unless your smelting aluminum or something in your place I doubt you have 100% continuous load rated circuits.

Thanks for the info user!

A 6-gpu rig alone is 970 watts, so does that mean these people with multiple rigs are dangerously close to an electrical fire? Or is there a work-around that they are utilizing?

I will leech my uni electricity. Here it is 220v 30a 60hz

Hey if its your bussiness why dont you buy a power generator? Oil is relative cheap

Mining is a zero sum game. As more people mine each receives less, and difficulty goes up which further reduces returns. I mined for 2 years and would have made more just by investing the money into coins rather than gear.

kek

Gamble on post ico shit.

How does mining work after the 21 millionth bitcoin is mined? What's the incentive to continue keeping the ledger running?

transaction fees

How do you actually live off of this without the government freaking out? Just pay taxes and they don't care?

>MFW I work at the bank and my idiot coworkers laughed a client out of the door who claimed they needed someone's help cashing in 1M worth of bitcoin
>I_WASN'T_FUCKING_THERE

I would have charged them 30k FUCK

i tell you way faggot amd rx480 ,rx 470 etc etc
are fucking imposible to buy

why amd why

Don't you have to buy ASICS? What about GPU mining for shitcoins and waiting for pump and dumps?

Which of the remaining in-stock GPUs are worth buying to mine with? Should I simply wait for the 580 to come back?

I just bought asrock z97 fatality from amazon for like $150

Most coins are becoming asic resistant to stop mining centralization

Isn't ethereum not going to be mineable later this year? Can an ethereum rig mine other coin?

yes, its just hardware. You can set it to mine whatever coin you want to mine that's mineable.

Fuck, I kind of want to do this, my only concern is I don't want to accidentally start an electrical fire and burn my apartment down

I really don't get why an ASIC can mine X coin better or why other coins need GPU and etc. I only somewhat grasp how computers work.

The ASICs being talked about here were made for the sole purpose of bitcoins mining algorithm. Gpus can mine most algorithms.
therefore ASICs are only good at mining the same type of algorithm that bitcoin has, and since coins want to be unique/have different functions, they use different algorithms than bitcoin. Does that make sense?

Tfw ~$0.29 per kwh

Is the RX580 or a GTX 1080 Ti better for mining? or the same

yeah it does.. is it safer to just buy GPU for a starter then I guess? Or are bitcoin ASIC's still worth it?

I did some researched and saw that ethereum will soon become un-mineable... so I guess that's a no go..

maybe strategically mining shitcoins and converting them back to bitcoins with GPUs is best? What do you think? Is it really still worth it with so many claiming it's hard to break even?

and as another user said.. it all seems to be a massive fire hazard.

cant find any RX 580 cards or else i would buy 6 right now.

Currently have my r9 200 series thats sucking up the power. Luckily only 0.07 where I live

ASIC means application specific integrated circuit. Its a machine built solely to run SHA-256. A GPU is more of a general use circuit. It can run SHA-256, but not as fast as an ASIC.
CPU < GPU < ASIC

It's difficult to break even depending on your cost of electricity, so you'd need to find out how much you pay for. And ETH will be good to mine until then, and give a pretty good return. What you need to remember is that once you make the return it's pure profit, excluding electricity costs of course.

It's 10.81 cents (CAD)/ to KW

..so I guess pretty damn cheap? That's 8 cents US/KW

Have 580s in boxes, too lazy to setup. Woe is me. Can't decide whether to mine or sell on eBay at 200%

Mining is shit unless you dont pay for electricity. Most large miners run out of countries with subsidized energy. Also yes, ETH will soon move to POS, which replaces POW in exchange for a different power structure. How this will change things in the next few years is unknown.

thats pretty cheap, there are some mining calculators floating around if you want to see how much you would return mining.

Well if you're lazy sell.. but remember people on e-bay can basically just rob you without paying anyway apparently.

This does make me nervous. I get a lot of held funds lately and e checks. I hate shipping first

I'm asking shitloads of questions, thanks for answering them..

I did check some calculators but it's still hard to predict with all the volatility.. I also only have about 7k to my name unfortunately.

The other problem I have is.. aren't mining rigs pretty easily hackable unless you know exactly what you're doing?

How many do you have?

To my knowledge there isnt more risk getting hacked mining vs using the internet normally, mining rigs are still computers at the end of the day.

Thanks, the last part is pretty hard for me to understand though but I guess it is for everyone.

are you just knowledgeable or do you also mine?

I dont mine, just someone who was looking into mining as well.

until your mom turns on the dryer

>putting your miner on the same circuit as an appliance

You put them on different. Breakers. So your best bet would be to run your rig in the basement and just install new plugs as you need them

I have one gtx 1050 to mine while I wage cuck at work. What should I mine?

cool. thanks for the info.
what do you mean by circuit.. the whole house?.. or the same plug?

>days: 28
>usage: 2975 KWHs

What kind of residence is this? A house? Apartment?

I wanted to buy an ETH rig off craigslist but I read that ETH isnt going to be mined anymore pretty soon and I dont have the smarts to mine other coins.

Otherwise I did the math and the rig would have paid for itself after like 5 months. The only proble would be I live in a small one bedroom apt and where the fuck would I put that loud, hot contraption?

Ok I will look into it thanks

The power cost in Sweden is cheaper than the cost here in California.

your house has separate circuits for each room so if you use too much current in one room, the breaker flips and that room goes out and not the whole house
appliances are often on their own circuit because they draw so much current, and those circuits have more amps to draw before breaking
ask your dad about it he'll tell you more