All in on XMR ETH Mining

Give me one good reason why I shouldn't dump 20k on mining hardware to mine XMR & ETH? Safe, easy, passive income. How could I possibly lose here?

Other urls found in this thread:

bitmex.com/register/YgC8kJ
etherscan.io/chart/ethersupply
twitter.com/NSFWRedditVideo

what are your hardware costs and how much hashrate would be getting for each coin?

Privacy coins get made illegals by major countries and price of XMR plummets

Lel no, making them illegal would actually make them quite bullish.

By your logic
>drugs are made illegal and their price plummets
>alcohol is made illegal and price plummets
>stolen art becomes illegal and its value plummets

Store of wealth that's untraceable and untouchable by government, robbers and ex-wives has phenomenal value in human society

Good idea OP. When I get 20k I'm doing the same. How will you explain the increase in electric use without getting vanned and/or being forced to pay taxes?

Its far more cost-effective to just spend that money on buying the coin. I've mined ETH for a year now and the profitability now is 1/10 of what it was last spring.

But the price is 10x what it was. Why does no one mention the fact that a coin's worth will probably grow in time?

>try to consume less than what (((THEY))) want you to consume
>unable to get adequate nutrition
>unable to transport oneself in a road and highway bound society
>socially ostracized
>unable to find meaningful work without making it encompass your life for decades
>fined for composting or farming in an urban area
>fined for running a business in an area not zoned for it

>try to consume more than what (((THEY))) want you to consume
>jackbooted riot cops break down your door
>execute your dog while laughing
>smoke your weed in front of you
>kneecap you so that you are always at dick-height for Bubba in the slammer
land of the free and home of the brave, huh...

I said profitability now is 1/10 of what it was. Profitability takes into account the price of the coin, electricity for the rig as well as keeping the space cool, and replacement parts. If I would've bought the coin with the money I invested in mining I would've made much more. ETH isn't going to be Proof of Work for much longer either.

Proof of Filet Mignon is just around the corner, Rebecca.

Started mining in September, I've actually noticed an increase in minability since the October update. Went from mining 0.29eth/day to 0.32eth/day and did nothing differently.

While eth will EVENTUALLY move to pos, it won't role out for 18 months.

8x Sapphire AMD Vega 64 8GB cards will give you 16K H/s for XMR on windows mining software... 1396W system...

Before electricity you’re making about $900 per month... I pay about $.20 per kWh so my profitability would be about $600 per month for one rig like that

If you buy the cards and rig it yourself, you’re looking about $5-6K startup.

If you want to go in $20K (4-5 rigs of 8x) then you can conceivably make around $2,400-$3,600 per month (ROI between 6-10 months)... its a risk and my example is probably the best case scenario rig... your chances are better in a low energy cost state though.

Go to XMR site and check their benchmarks on different equipment.

What state do u live in?

Why don't you instead use 1k to 100x margin trade Bitcoin on Bitmex? You get 20 lives before you die.

bitmex.com/register/YgC8kJ
You forgot to refer him sir.

I'm serious. The whole point of crypto is high-risk investment for losses you can afford for wins that can set you for life.

With lotteries you always lose, with crypto you actually have a genuine chance depending on the market, your intuition/smarts and your self-made luck.

20k? I would get a znode. Faster profit.

I agree that it's fine as long as he's not opening positions where the equity is more than $100. Take profit at every support/resistance.
This wiener has good advice:

Vitalik Buterin reaffirmed the Ethereum development roadmap laid out by Jameson and emphasized that Ethereum will most likely switch to a proof of stake protocol by the end of 2017.

whattomine .com for max profit

etherscan.io/chart/ethersupply

yeah vitalik gave the miners more eth to dump on us with that fork

You will get rekt when Ethereum switches to POS

explain