Anyone else mining

[the]

Anyone else mining

 

[GTIfan99]

$350 - the electricity or $350?

 

[the]

$350 - the electricity or $350?

If you are referring to the power cost, it's about $27 a month. Data cost is about 150 Megabytes per card, so it doesn't change the internet bill at all. Profit per month is ~$350.

 

[brat_burner]

I would probably try if I knew wtf I was doing lol

 

[Dog Dad Wagon]

Yo, you're the man. I've been watching the crypto rush fly before my eyes for years as close friends have urged me to get off my ass. I work in IT now and am much more comfortable understanding and pursuing these types of things. I am of the mind that ETH will, as a necessary function of USEFULNESS, exceed BTC in market cap/value once the market corrects post-COVID and the next run happens in a year or two. Cheers for this - I'm definitely dedicating a weekend to getting this going in the next month.

 

[Dog Dad Wagon]

Have you ran the before/after comparison of your electricity bill since standing the GPUs up?

 

[the]

Have you ran the before/after comparison of your electricity bill since standing the GPUs up?

Only the estimate based off my current power draw, which is $27. Everyone I have spoken to about this says $10 per video card per month is what you should plan for. If you have hardware and run the miner for about an hour, you can get an estimate of what to expect with your electricity bill here.

I've been watching the crypto rush fly before my eyes for years as close friends have urged me to get off my ass.

If you have the hardware, now is the time. Ethereum is insanely profitable... so profitable there is a video card shortage.

I'm definitely dedicating a weekend to getting this going in the next month.

Send me a PM if you're interested, we can have you set up in an hour or less.

 

[gbar]

Any plans to become a validator before ETH2 rolls out?

 

[toothofwar]

So basically if we have a $4k gaming rig just collecting dust it could pay for itself in just one year with this one simple trick? Banks will hate this!

 

[Dog Dad Wagon]

So basically if we have a $4k gaming rig just collecting dust it could pay for itself in just one year with this one simple trick? Banks will hate this!

the video he posted above is a $2500 rig that broke even in 88 days. And that’s if you sold at the 88th day. Give it a year and you’re exponentially higher. Give it two, and you’ve got 10’s of thousands worth of ETH, possibly over a hundred.

 

[GTIfan99]

How do you convert this digital currency to money you can spend?

 

[Dog Dad Wagon]

How do you convert this digital currency to money you can spend?

The Ethereum wallet he describes creating is hosted on Coinbase, which is the largest American-based crypto trading website where you can exchange the largest cryptos with USD at-will. High fees though, like 5-7%

 

[GTIfan99]

The Ethereum wallet he describes creating is hosted on Coinbase, which is the largest American-based crypto trading website where you can exchange the largest cryptos with USD at-will. High fees though, like 5-7%

So you have to add the cost of conversion to your bottom line.

 

[Dog Dad Wagon]

So you have to add the cost of conversion to your bottom line.

I mean that’s just the easiest way to do it. There are less expensive ways of doing it, but Coinbase is able to get away with their ludicrous fees due to sheer, raw convenience.

 

[Saabingti]

Interested... have a 5700XT on one system and a 1060 on the other. Neither do anything while I'm at work.