I need some serious advice

well if you think the risk/reward ratio is profitable for you then go for it.

you can open a margin brokerage account with some stocks in it and pay ~$2K/yr for $20k.

you are going to be in for a rough ride.

this

you are going to be even more fucked if you blow your money on that.

How much interest on the loan???

You should use the loan to pay it back and get a job to pay the interest.

Then do it again with a larger loan until you work up to more than $100k.

THEN YOU MOVE TO COSTA RICA
YAAAA

I don't blame you, wagecucking is terrible, but you are not going to make enough to cover your loan payments with mining. I'm just telling you the truth, user.

You can either find a different way to pay it back or default on it.

>You can either find a different way to pay it back or default on it.
lol

Build the mining rig and skip the mining part. Set up an online store and sell what you build. The markup on these things is retarded. 5k for 2.5k of supplies. Your first couple will probably be shit, but most people are too stupid to know the difference (especially people too dumb to build their own).

best suggestion yet

>you can open a margin brokerage account with some stocks in it and pay ~$2K/yr for $20k.
i dont know what that is

so the calculators are bs? i think the s9 is very powerful so not sure if they wouldnt deliver on what the cals say

i was planning on doing this and if all fails default but by father is like no you have to pay the bank and shit, he thinks they're coming for me to take me to pound me in the ass prison but i dont think so.

What state are you in, OP?

a state of denial

HEYYY-oh

t. an actual miner

Literally fucking this. HFS. Top lel

that looks complicated, the antminer s9 is the best prebuilt i found and it used to be like 2k but it's only 1k now on the official site, that's why i thought it was good enough.

>i was planning on doing this and if all fails default but by father is like no you have to pay the bank and shit, he thinks they're coming for me to take me to pound me in the ass prison but i dont think so.
here is probably the truth of your father's concerns. you're 30 and living at home still with no job or education. you have no will to get either. you took out a loan and judging by the current situation you're in, you will default unless your dad steps in to pay. if he doesn't your credit is fucking ruined and you'll never move out.

im not in the us and we dont pay electricity in my home.

no job yeah, i have education and used to work in software testing but i havent found a job for awhile, probably im asking too much money but the pay is shit. I have nothing on my name that the bank can take from me. If I ruin my credit that doesnt affect my family at all, only me.

it might be that your dad is hoping that you move out someday.

well he said im welcome to stay here for as long as i want but he got really pissed when i said if i wanted to burn my credit thats not his problem. At worst I can do a couple software certifications and probably get a job easier so in theory i can do that anytime but i didnt in the last couple years cause i didnt had money to blow on that.

Why dont you try day trading cryptos, if you are not a troll and actually are as stupid as you are making yourself out to be, please feed the whales, dumb fucks with no money skills are what put my lambos on the table

guy, he's your dad. he doesn't want to turn his back on you or toss you out but I'm sure he wants better things for you. there are probably times when he's running into friend or talking to colleagues and dreading the question, "how's user doing?" because he has nothing to say.

just bet it all on a sporting event, doesn't matter which one just something with a large return
protip: pick outcomes that favor the (((tv deals))) which make more money for the advertisers and league

i think i could do pretty good and it was my plan to trade and buy the best shitcoins i can find but he made me doubt myself today really bad

yeah, which is why i been researching a lot these last couple days and i thought i could mine or daytrade with the borrowed money but im not sure what to do anymore

lol might as well play roulette and put it all on red

Invest in a stock a politician is manipulating behind the scenes.

>go to biz for fakecoin money advice
>they tell me to just get a job

What is the purpose of this board?

trading = if the market grows you get money, but if it crashes you're broke

mining = you get free money after the upfront investment, and if the market crashes then you can sell the hardware.

yeah you need high levels connections for that

OP here, this surprised me too, im sad now, everyone is killing my lambodreams.

yeah you didnt took a posture on the whole thing at all, i know about the free money part, the problem is fucking bitmain starts sending the miners till ends of august

I thought you said you were good with computer software, figure it out.

i need the opinions of other to make a better judgment dammit

Did you account for difficulty increase?

Also, how did you take out a 20k loan with no job?

OP, forget about mining BTC. That ship sailed a long time ago. The mining rigs are also noisy and hot as fuck, and your pops probably won't appreciate their presence.

Tell you hwat bobby: Burst

15k buys you ~100 5GB external HDDs with an average price of 150$ each.

1k should be enough to cover auxiliary equipment to set up a drive farm (cables, risers, construction materials for simple rig itself)

Last 4k leave as collateral - pay the 700 from this pool each month as plotting each drive takes time.

Build a basic rack type rig from simple wooden components, hook up your HDDs and mount them in the rig nice and orderly. Hook it all up and leave them to plot the drives. With your ~500TB of space, plotting will take a long time, as one of those 5TB drives could take from a day to two, depending on the CPU/GPU power you use to plot them. Expect them to be plotting for months. Good thing is the ones that have finished plotting can begin mining away. Drives consume negligeable amounts of power and processing power when mining compared to mining with GPUs and CPUs. As each drive comes online, your mining capacity will begin to rise.

At current Burst stats and prices a full farm of 500TB in total should mine you ~2800+ USD worth of Burst per month. Within a year you'll be in profit, especially if Burst prices keep slowly rising.

Good luck - you'll need it with this kind of stupid decisionmaking.

great question

How'd you get a 20k loan from the bank without a job? My bank didn't let me open a 10k loan account because I didn't have a job (they themselves offered it to me, then said no)

>bank loaning a neet 20k unsecured

You fsggots don't even put effort into larping anymore.

Cash flow
-
Expenses
=
Money you can invest

In OP case
$0-(expenses) = No money to invest.

Look at the 2014 bubble and following crash, if you bought @$1000 in 2014, you would not break even for 3 years. There is nothing to say that wont happen again.

Don't bother OP.

You're already a failed human being.

There's no risk, because it's not my money!!

fkn top kek

yeah, it's still worth it according to the calculators i tried. The s9 mines at 13.5 th/s or whatever so 5 of them running 24/7 would earn 1.2 btc per month, which converted to my currency is a lot where i live, enough to pay the loan and then some, i havent earned money in 2.5 years.

I have 4 credit cards, all of them have always been paid on time, so my credit is alright and the bank that gave me that personal loan is where i have 2 cards so they know im not a deadbeat, they dont know i been unemployed obviously. They offered me like $4k last year and i didnt take it and this year it was $20k so i took it.

the noise and heat of the s9's would be no problem, they wouldnt even be here in my home.

WTF is Burst, is it a shitcoin?

answered above in this reply

cash flow= money earned would be what btc is mined, expenses is always flat at ~600 dls per month, so if it mines ccorrectly it will pay everything.

trying to improve that

nah dont worry about the electricity at all.

gib propane plox

god dangit bobby

Probably better off just moving to costa rica and working online, honestly.

If you can really power 20 S9s for free and have that many circuits (each S9 is 1200W, requiring its own circuit if you live in NA/120V), and accounted for difficulty increase, then go for it

I probably would start by buying like 5, thats a 6k investment, i dont want to spend most of the loan that fast, and thats if i dont return it which i still can

Why are you so fixated on BTC. The ASIC miners are strictly limited to mining ASIC. You'd even be better off bulk buying a ton of GPUs and mining ETH or whatever else coin you can imagine from the list of hundreds.

Why this fixation on ASIC miners and BTC? I repeat, that ship has sailed.

(it's because he's kind of an idiot)

btc mining only starts payin for itself after a year

why not mine shit coins and hope the price goes up?

I already figured out how to mine for ethereum with a 15k investment that will bring me 5k a month

Care to enlighten interested folks?
A specific model of GPU clocked to specific settings? Certain region/country/method for mitigating power costs?

Really didn't want to make my own thread for this but I NEED TO KNOW:

Is it at all impressive for a 22 year old guy to live in his own apartment with NO roommates? The apartment is $700 a month, and I live alone, without roomates. It that impressive?

It's baseline "Well done" tier stuff. Ideally young person should be able to achieve this financial state on their own merits.

Most certainly not impressive unless you live in fucking China where having an apartment to yourself has half the women in the city flock to you

Yea not really

not fixated, if i can mine eth and get more money i can do that too

i posted my math so if there's something wrong let me know

do tell

its aight

Get time machine.
Buy cheap cards before they become impossible to find.
Mine echi coin.
Get rich.

Seriously a new rx470, a $160 msrp card is going for $520 today and there fucking sold out everywhere. The rx570 that replaced it mines slower, burns more power and is selling for $400, more than 2x its msrp.

I'm mining 460's which get 2/5ths the Mh just because its what I could buy at a non ass raped price.

why should i mine with piece of shit equipment if i have the means (ie borrowed money) to get the high end normie mining hardware?

Go ahead and make less then, you fucking moron.

well you say they're sold out so no dice. Also what's that echi coin, why is it worth it?

How many 460's do you have mining and how much $ per month does your whole setup get (in usd)?

Ethereum

16x 460's
192Mh/s ~$1k/month
I got the 460's for $60-70 each, make sure they are 4 gig, they are currently sitting around $100 second hand. (This is actually MSRP for the 4gig) You can unlock about 12% more power with a bios flash.

ROI is like 90 days at current ETH value.

>put 20k into a 1 dollar shitcoin
>price goes up by a dollar
>sell
>you now have 40k

Sound like you really though this through. But I have one question. How did you get the bank to give you a 20k loan?

might as well play roulette on a casino, better odds since there's like a million shitcoins

answered here

read therad

so you spent like 1.5k on this setup and you earn $1k a month? that's alright i guess. Not sure how do you setup all the cards and shit, like how much extra equipment is needed to make them run or whatever, any advice there?

Im checking and its probably more profitable to mine eth

The 460 are only like 60 watts per card so psu is far easier to do just power them from hdd plugs, you gotta get risers, if you nigger rig it you can skimp on risers for your full width slots. If you got a board with a couple M.2 ports you can get risers for those too. But ddr 3 is dirt cheap so buying last gen and only going 6 cards is an option worth considering.

I've seen shit like amfeltec.com/products/gpu-oriented-cluster/ but was too conservative to fuck around with it.

Shit that sounds way too complicated, the s9 is cheap as fuck at 1k compared to how it used to be double that price.

Meh, its stupid simple if you only want 3 cards. Just load up any spare slots you have.

Been considering getting some S9's or L3+'s, kinda don't like how they are locked into just a handful of coins and the talk of a split's got me spooked but idk yolo.

Invest the 20k in eth and profit

too risky, if i invest in the mining rigs at least i know they will be generating some coins all along, where the eth could dip hard.

If I fuck this up i could end up in the street

>if the market crashes then you can sell the hardware
No you can't

Miners arent the only people who use computers. I do understand that if you invest whole hog into asics then you may be fucked, but if you run a gpu farm then you can sell the gpus and the computer parts if the cryptocurrency market crashes.

To whom?

Eth won't crash

eth is a scam
You can sell GPUs to their intended audience, video renderers and gamers. You can sell the mobo, cpu, and psu to people who make computers from scratch.

>eth is a scam
Spot the no coiner

>nocoiner
I'm a no ETHer, ETH needs a sharp correction before it's at its true value.

jesus, I just turned 18 a few months and can't fathom how somebody can be this retarded at 30

what has op said that's retarded?

this fantasy, these ideas, and his situation as a whole

Op still here, i would like to know that too

What is the problem with what he's proposed? It seems that he asks all the right questions, and is concerned about backup plans in case he fails.

Yeah i find it curious that no one questioned the math, the cals are showing crazy numbers mining eth with those, not sure why others dont make threads about this, probably not worth it considering electricity costs which is not an issue for me

Veeky Forums is actually hotter than /b/

Zcash goes live on alphabay July first . Check out teachers for when eth and xmr went live there . You will make 40k min

Why is it not an issue for you?

What
Read thread

Well, most of the autists here dont have access to 30k, and wouldnt dream of borrowing it. So they dont even make the calculations for that. The only problem I can see with your plan is getting the hardware, I'd be safe and go 50-50 btc and altcoins, even if that lowers your profits, because its safer to be diversified. But you seem to be a madman so If you want to all in btc mining equipment and compete with the chinks, then have fun.

>700 per month
>4 years
>20k loan

Loan sharks are not banks OP. kiss your legs good bye.

Yeah i would probably try and mine a little eth since its probably easier at this point in time. As far as btc mining the calcs account for the current difficulty when doing the estimate.
I borrowed from the bank, even if i default im pretty sure no jail.

Communist countrys are getting shut down id say go for btc

>communist countries are getting shutdown
death of the USA when?

That senate law looks like an attack on crypto so if that passes btc is going down 50% at least

lol why? what the fuck can the feds do to bitcoin? pat you down at the station?

yup oh sweet commucuks