Cryptocurrency mining question - GoFuckYourself.com

Farang · 11-12-2024, 01:36 AM

I wonder if an experienced miner could estimate what kind of investment would it take to start making say $10k in monthly profit mining crypto? Just a rough estimation, I do realize that electricity prices, taxation etc. varies from country to country.

jamezon · 11-12-2024, 03:22 PM

Quote:

Originally Posted by Farang

I wonder if an experienced miner could estimate what kind of investment would it take to start making say $10k in monthly profit mining crypto? Just a rough estimation, I do realize that electricity prices, taxation etc. varies from country to country.

do your own math: atm maybe 40.000-50.000 investment for decent asics if you get them,but its allways a bad moment for calculations during a bullride the
competition will jump in fast, asics not available, only long waiting list etc...

and profability will decrease to an extreme.so your 6 month Roi calcultion now can turn to 3 years when you get your asics

https://hashrate.no/asics

INever · 11-13-2024, 11:00 AM

Was doing some b2b outreach for a guy who bought Helium miners.

His plan was to pay $600/year per wireless/router mining location.

Short story answer: Late to the game, at least with Helium.

CaptainHowdy · Today, 01:40 PM

Is that still doable ? ?

V_RocKs · Today, 02:11 PM

I would say your investment would have to be around $100K+ and you'd have to have found something new that nobody else is doing.

Speaking of Helium. I got into it early and with 1 miner I was doing around $80 to $150 per day. I was alone in my area accept for perhaps 15 others who were on hilly terrain. So I was the connecting point for all of them. Then I began to get neighbors. Lots of neighbors. I am talking 5 new ones per day. I still made about the same for a while. Then things went South real quick. Suddenly I had 100+ neighbors in my valley and I was doing $25 to $50 per day. So I set some up at several houses owned by family and friends. Went back to $80 to $150 per day for a few months. Then my neighbors had 50 neighbors and it went to $5 to $25 per day. And the value plummeted. I did sell a good portion that I converted into something else for around $8000 and basically made very little profit over a 2 year period. Now when I look at the map of my area it has 10,000 miners or so? I think people now make less than they spend in electricity.

Was fun while it lasted.

11-12-2024, 01:36 AM	#1
Farang one sick puppy Industry Role: Join Date: Oct 2004 Location: Where the worst of the West meets the worst of the East Posts: 11,350	Cryptocurrency mining question I wonder if an experienced miner could estimate what kind of investment would it take to start making say $10k in monthly profit mining crypto? Just a rough estimation, I do realize that electricity prices, taxation etc. varies from country to country. __________________ Experienced webmaster looking for work

11-13-2024, 11:00 AM	#3
INever Confirmed User Join Date: Jan 2005 Location: .......in a niche, in orbit...... Posts: 3,394	Was doing some b2b outreach for a guy who bought Helium miners. His plan was to pay $600/year per wireless/router mining location. Short story answer: Late to the game, at least with Helium. __________________ I love Camdough

Today, 01:40 PM	#4
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 92,210	Is that still doable ? ? __________________ Enroll in the SWAG Affiliate Asian Live Cam Program and get 9 free quality link-backs! Get those links up ASAP! --> TJEEZERS.Cam. Setup in 48 Hours max.

Today, 02:11 PM	#5
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,368	I would say your investment would have to be around $100K+ and you'd have to have found something new that nobody else is doing. Speaking of Helium. I got into it early and with 1 miner I was doing around $80 to $150 per day. I was alone in my area accept for perhaps 15 others who were on hilly terrain. So I was the connecting point for all of them. Then I began to get neighbors. Lots of neighbors. I am talking 5 new ones per day. I still made about the same for a while. Then things went South real quick. Suddenly I had 100+ neighbors in my valley and I was doing $25 to $50 per day. So I set some up at several houses owned by family and friends. Went back to $80 to $150 per day for a few months. Then my neighbors had 50 neighbors and it went to $5 to $25 per day. And the value plummeted. I did sell a good portion that I converted into something else for around $8000 and basically made very little profit over a 2 year period. Now when I look at the map of my area it has 10,000 miners or so? I think people now make less than they spend in electricity. Was fun while it lasted.