Mining

What kind of mining setup would I need to earn $4 - 5k profit a month?

>upfront investment
>how much space

and how often would I have to replace hardware?

Really depends on what coin/algorithm you're looking at.
But generally speaking, before making 4-5k profit a month you'd have to run those mining tools for a couple of years before the pay off and you reach the break even point.

>couple of years before the pay off and you reach the break even point.

why is that?
I've heard people say that ROI time is generally less than a year,
have even heard people say 4 or 5 months

Mining is pointless. Better off investing in a PoS currency and leaving it on a computer.

they are lying to you.
there is no way ROI can be 4-5 months especially just from mining.

realistically speaking
unless you are stealing electricity or found a way to get super cheap electricity no matter how much you mine it simply isn't worth it

look at the prices of the GPU;s and power supplies.
look at the prices of the Antminer series.

there are tons of resources to tell you the ROI on such equiptment simply isnt cutting it unless you obtain them super cheap under market

Theres a bunch of coins that do that on whattomine.com

How am I if I'm just using a card I already bought for gaming?

for example.
nicehash calculator is forecasting
nvidia GTX 1070 at 5 dollars a day

the GTX 1070 seem to be ranging online for almost 400 dollars and up

400/5= 80 so ASSUMING you got the rest of your miner hardware for free. and aren't paying for electricity

it would take you 80 days to make the money for 1 graphics card

but of course this is a dream, because what many people who get into mining do not realize is the difficulty increase.
it changes daily if not every few days, making your cards earn less and less money.

so that 400 dollar card that is supposed to be earning you 5 dollars every day? its gonna earn you 4,90 cents next week, 4,80 the week after and so on and so on. till you get down to the dollars.

the best time to have started mining, was yesterday. the next best time? never. dont do it.
just buy coins and trade or do what these other anons tell you. invest it into a POW coin.

what if i start mining yesterday tho

mining 24/7 wears down your cards if you do not undervolt them. and even then it merely extends it's life a little before you have to replace fans or cards.

if you want to. go ahead. but be aware its very stressful on your card so i hope your PC has amazing cooling

then gj, guess youll be rich
dont forget to file for taxes :^)

I can buy a rig that makes 10/day for like 1500 even with the astronomical energy prices in my country.

...

obelisk.tech
dyor though, nothing is guaranteed

You would need to spend 40k-50k to get hat kind of return amd only on certain coins.

>wears down your cards
lol, make sure to you change your headlight fluid on your car twice a year.

oh word?
as a miner myself, tell me about this rig. what is it using and where can you buy them?

i started mining back during the RX 470/480 days

ive more than made my money back and have yet to upgrade my miners but im comfy pulling in like 80 a day

you like living dangerously, i see.

nice container though, props

I am about 55k invested, both Nvidia and AMD (you want diversity because sometimes lyra2rev or equihash coins have great spots and Nvidia are better for that) and make roughly 9.5k per month less electricity (~5-600$).
The idea that cheap electricity is that necessary is unfounded. My numbers above pretty much show this. The biggest issue you will have right now is literally finding GPUs. I was buying 570/580s for under 300$ and many had rebates, now the same exact cards are out of stock for anything under 500$.

If you can find cards, mining isn't a bad idea.

1060 6gb x4 here...any tips for a noob? This is my first rig I just built it Wednesday

What about 1070?

Just putting in 3 1070/1080 in whattomine shows me returns of around 10 (after subtracting energy costs) and such a rig would cost around 1500 and could be scaled up with more GPUs.

Half year ROI sounds reasonable to me.

>found the miner

thats not how it works man...
thats not how any of this works.

man, honestly if you got money to do it go ahead build your miners and earn your coins.

i don't even care anymore.

If i have the option to dump 36K on 16 titan V cards, should I take it? Or just go with 1080ti?

What step of it is wrong?

I have a fixed investment for the hardware and based on the resources I found, the hashing power of said hardware minus the energy cost should net me about 10$ worth of coins per day.

> I hope OP is bisexual

target 5k * profit* not revenue

lifetime of a card is 3 years, on average averagely good card will make 1$ a day in revenue, that will cost 0.15 in electricity. Card cost 650.

(3 * 365 * 0.85) - 650 = $ 280 profit

280 / 365 = 0.77 a day profit

5000 / 0.77 ~ 6500 cards

Sooo you need to have 6500 cards to make 5k profit

profit not revenue

you can have a max of 11 cards per PC. that is

you need 600 computers and 975 000 watts

Average big home can handle about 25 000 watts before it caches fire.

If you buy a mined coin that's the same as paying someone to mine for you

remember:

- one or two good speculative mining plays can ROI your rig like within a week

- unless you completely fuck up your cards, you should always be able to sell them for AT LEAST half the MSRP a few months down the line, especially the high end nvidias (1070ti and 1080ti)

- reduce power limit, keep the cards at stable & constant temps

Your best bet is to mine some alt-coin that's relatively easy to mine and cash out, also with potential to moon (based on your research), and use a mining pool. You can use your existing rig to mine, even if it doesn't have any GPUs and such.

>4-5k a month
Jesus user

Friendly reminder to stakers.

A staked coin has no bottom ! NONE !

Any coin that has a blockchain and the blocks are produced by mining, has bottom.

You can have 1% mining and 99% master nodes, as long as the block are only produced by the miner a coin is ok.

When the block are produced by the stakers, the coin is a ponzy ! It will go into deflationary stagnation. And eventually come very close to 0.

Mineble coins insensitive miners to sell their coins. Therefore making the cash flow and undercutting the damn hodlers.