Thinking of mining bitcoin? Any tips? How do I start? How much money do I need to buy essential stuff like a new mining laptop?

like
Posting as :
works at
You are currently posting as works at

I’ve got two mining rigs setup (13 GPUs) and have been mining for about a month. Clearing about an ether every month. Up front investment was about $5K and I am looking at a payback period of 5 to 6 months. Lately there’s been a scarcity of cheap GPUs, creating somewhat of a barrier to enter the GPU mining market. I’d say if you can get your hands on cheap, second hand hardware equipment it may be still profitable with a quick payback period.

Why am I mining? I am a little insulated from market fluctuations i.e I have a fixed cost to acquire ether every 2 to 3 days which I reinvest in other alts. Also it’s a bit of a hobby and been a fun learning experience.

Should you do it? Evaluate the profits by looking up online resources (plenty out there). Also, I’d say you need a little bit of tech fluency to optimize your rig for keeping your operating costs low and, above all, need to be patient. Mining won’t make you rich overnight but it’s a way to generate some steady passive income which also has the potential to grow should the crypto market grow further (which I am very optimistic about).

helpful

I have a mix of GTX 1070s, RX 580s, and RX 570s. Vendors of those cards matter less IMO (after testing out multiple brands). The two things you are looking to optimize is $/Mh and Mh/Wattage that is get the most hash rate per dollar you spend and go for cards that keep power consumption low (averaging about 100W per card)

like

Mining laptop..lol..you need to read up kid.

You need a rig... $Xx,xxx

@D2 - what GPU’s are you using?

Related Posts

I’m trying to get an estimated ideal of what my costs would be when moving to Chicago. How much do you spend a month on “going out” (before pandemic)? Specifically referring to going to restaurants, getting drinks, take out, and coffee. Not including transportation.

like

Is a “coffee chat” the same as a first round interview for on-cycle recruiting right now?

like

Any tips on how to get started on prepping for VC interviews

like

Has anyone out there worked for a cruise line before? what was it like?

like
like

Hi I’m looking for a strategy consultant role in canada. Currently working as a C at another big4. Is anyone willing to have a chat ?!

like

Which one to choose Infosys or cognizant
I want to know in terms of below points
1)need wlb
2)job security
3)decent annual hikes
4)projects preferably devlopment

If you have any idea please do let me know

like

Hey everyone! I recently sold my business and decided to transition to SAAS sales world. I’m actually surprised I’m getting a hard time from companies about being hired considering I funded, scaled, and sold my business of 6 years. Anyway I’m ideally looking for an AE role, but after couple of months of applying and getting nowhere I’m also open for an SDR role. Anyone that can refer me I’d be super grateful, thank you!

like

Completed all rounds of PWC interview until partner for a Manager position. I guess it went well. Most likely up for promotion this mid year at current firm. Should I leave my comfortable position at Accenture and venture out for a possible significant bump in salary ? What am I possibly getting myself into.I am also on H1b.

like

Hey, a Private Banking analyst with 0.5YOE here and I'm starting to realize it's not the role for me. I'm really interested in FinTech roles, but wondering how I can pivot to Fintech roles that typically require 1+ year of experience in IB, consulting, or SWE? Would love to connect with people in this industry to learn more about their roles!

like

What is the salary (fixed + joining + variable + stocks) for supply chain program manager at Microsoft India? CSCP division. I saw opening in linkedin. @Microsoft

like

What’s the going rate for a commercial senior underwriting role and what companies have you found to be most enjoyable with a solid work life balance? Personally love where I’m at, but curious to see what else is out there.

like

Can someone give some input on the difference between an Underwriter and an Underwriting Analyst? I'm finding a lot of companies use this title synonymously.

like

FAR, what a pain..that’s all

likefunny

Which form of marketing (brand vs. product), does a typical Strategy Consulting role best prep for as a realistic exit? Also, between brand vs. product, marketing which is a more preferable exit?

like

How can I get my hands on the "off-white" Virgil Abloh line of sneakers for a decent price ?

‘Tis but a scratch!!

Post Photo
likefunny

Guys pls advise me, urgent query

Post Photo
like

I am currently working as a delivery manager for a data science project where I manage both ML and DE teams. I am not sure what career path should I follow.

Should I move into either a core technical data science/data engineering role or move into a techno-managerial role like a program or project manager? What role would be best in terms of money, growth, and job security?

like

Additional Posts in Everything crypto

I need a hard hat for these falling prices. Stay safe⛑📉

like

If you follow the cryptocurrency market, or even have been just taking an interest lately, with the Bitcoin "halvening," you should check out Pi.

If you haven't heard of Pi, it's a new cryptocurrency (like Bitcoin), developed by a bunch of Stanford PhDs. What makes it really interesting is that you can still mine this coin, using just the processing power of your phone, unlike just about every other coin out there. (Contd)

likefunny

Is there a paper or hardware wallet for smaller coin like factom/golem/stratis??!!

First instinct this morning... put more money on coinbase. Hope by the time it clears I still catch the bottom.

like

Nano rising rapidly, great team and good roadmap. Look at the review by Datadash on YouTube

like
likefunnyupliftingsmart

Coinbase CEO on TV tonight. Will he say anything new or useful you think?

Jeez it's Memecoin Monday out here

likefunny

What’s all the hype about safemoon?

like

Cash is also an investment position.

like

Solana 😭😭😭

I don't own any and it hurts.

Curious in seeing what people's avg cost basis is in this, when you purchased, and why?

like

Who else thinks a a 10-20% dip is coming this week?

like

Tempted to buy 1 BTC ..

like

Nice blast off over the last few days for QSP

Post Photo
like

So this all seems like mental illness pretending to be investing. Good luck on the gambling. I’m blown away by the people screaming “HODL” with no rationale. I’m 100% out

like

Thoughts on AdEx ?

Anyone still in Nano (Raiblocks)? 🔮what is the future looking like for this? 🔮

like

What happened to omg? So much buzz, and now it's down 15% WoW. Any smart thoughts? Wondering if it's funky business

Anyone use CoinTracker for tax purposes? Is it worth it?

likesmart

I have $1000 worth of Amex gift cards. How can I drop it in crypto?

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal