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

What is hike percentage in xavient digital- powered by telus

like

Could anybody help with a reference for Siemens pls

like

Once I attend an interview in Infosys and got offer and rejected it ...when I can apply again? 6months or 9 months

like

Have a spider mite infestation on a lemon tree I brought indoors for the winter. Anyone have any ideas for how to kill them? I looked online and have tried neem oil, but it doesn’t seem to be working too well. Help!

like

Covid 19 survey …. Can the offer be rescinded if I attest that I am not vaccinated ? Pros vs cons of attending dlaunch in person vs virtual ?

like

Working as a Manual Tester. Anyone can tell me how much time required to learn Automation Testing.???
So I can face the interviews. 😜

like

Hi all,

I am looking for QA ROLE. can someone please refer me for the opening. CURRENTLY working under comms media BU.
Skill: Selenium,java,JIRA, HPALM

like
like

How correct is the term “African American"?
What about black people from Haiti, Caribbean, etc.

Is it about where people are indigenous to?

Not all Black Americans are African American,
right?

like

Is commute from herndon(near frying pan road) to ft Belvoir or mead or crystal city or DC really bad? I have some offers but from Google maps it says up to 50 mins one way... not sure if it's too much... but the pay is decent
I do have ts sci with ci poly and have Java experience. Ideally maybe Reston, chantilly,herndon, Fairfax best spots...30 min or so commute. Looking around 200

like

Still cannot believe I gave in my 2 weeks

like

Doing documentation is the the adult version of Mad Libs

like

Globant India Pvt. Ltd. Hi Globers ! I have an offer from Globant for the role of a BA. While discussing the role with HR pre and post the interviews & offer, I had specifically ask the HR to tag me to Ahmedabad location as that's my hometown and I do not wish to relocate. But she has rolled out the offer for Pune location ane verbally ( isn't giving me in writing ) assured me that the location will be flexible. May I know from the fellow Globers if we have location flexibility or WFH option available? Globant India Pv

How much PKG one can expect from EY for 4 years

Cctc :10.5 fixed

like

Has anyone successfully landed a job in Europe as an American Citizen? I’m really looking into moving to London/Amsterdam or Berlin.

like

Looking for help to think through exit opportunities:
Big4 Transformation Director, current 220 Base, 10-30% bonus. New York.
Any constructive thoughts on how to pitch transferrable skills to: PE (Ops), Biz Ops, Start Ups or even IB without the modeling experience?

like

Confronting colleagues? Yes or no ? On a side note, any book recommendations for handling workplace situations

like

Hi, just wondering how much maternity leave Janssen and Merk offer? GSK will be offering 18 weeks starting in 2023, wondering how other companies in the area compare. Also curious if there is a minimum amount of time you need to work before the benefits kick in?

like

Happy Black History Everyone, let's make this a truly historic month!!

likeuplifting

Additional Posts in Everything crypto

Which alt coin should I buy in this blood bath outside of ETH, LTC, XRP and BCH?

When I place a limit buy on Bittrex, say on a eth-strat pair, and it hits my bid 2 days later, what is the constant? Price of eth (at time of order) or units of strat bought?

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

like

Is binance down? Trying to cancel a limit order and getting a fail error?

like

Tempted to buy 1 BTC ..

like

Huge btc short position in market right now, I expect a lot of liquidity issues to come to light soon. Bitcoin should end up below 30k and stay there as new resistance soon. You all doubt my previous posts but all these bumps to 37-39k are fake bounces from retail buying the dip. Defi is gonna unravel. Do you honestly believe the 10-40% defi interest rates were risk free. It’s all paid by stablecoin printing backed by the assumption that crypto prices would keep appreciating

likefunny

Anyone participating in DADI coin crowd sale? Why yes / no?

like

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

Go LTC go!

like

People worrying today should read books on trading psychology! Not being patronizing- it will help you in the future, not just for investments but for doing better in life!

like

I'm a crypto Twitter influencer, AMA

likehelpful

Has everyone really lost faith in LTC? It seems that nobody is talking about it, and it’s not on anyone’s top holdings list (on FB) 🧐

SOL vs ETH 2.0?

like

I have been DCAing over the last few months on binance and then moving the tokens to my Celsius wallet.

It has become really difficult to keep track of the actual cost of the tokens and profit/loss.

Any software or app recommendations, I am almost inclined to start an excel spreadsheet to keep track now

like

$Link 👀. Drop down to $11 area or keep pushing up?

like

Jeez it's Memecoin Monday out here

likefunny

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
likefunnyupliftingsmart

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