Making a living from mining

[TJ_Online]

Anyone here making a living from mining profits?Just interested to see and also asking for a friend of a friend ^^

 

[Qui_Illustrati]

Making a living from mining would be quite the roller-coaster ride in my mind
No predictability and constants - one guy says something and it tanks. One country bans it and it all goes to shit virtually overnight.
Mining to me is about getting in hard and fast and at the right time, and then getting out real hard and fast at the right time. Profit. Rinse and repeat as and when opportunity presents. My view though is likely flawed because I think mining and cryptocurrency in general is just pure BS and I've mined all of a week in my life. So...just my thoughts.

Cute baby by the way! Congrats!

 

[yannikmeyer]

I am pretty sure there are people that mine for a living, but like the gentleman above mentioned it is very unpredictable, either you will have to have a lot lot lot of hardware, so that even when the market is down bad you still make enough, and when you want to make it a living, you would also need low electricity cost, like under 0.10 USD a kilowatt. I myself mine, and I think it is decent to make good money on the site but it is very unpredictable.

 

[TJ_Online]

@mods can you move this to right section i put it in news i see sorry.

Interesting yea it's quite a rollercoaster ride which i enjoy.I have 6 cards currently and i am afraid the bug has bit me real hard lol not only the profit side but i also enjoy the tech side i been building and fixing PC's for mostly friends and family.I have learned a lot since i started it's been fun

 

[Sola Scriptura]

My grandfather from my mothers side made a living from mining.

 

[NI∀ƆOƆ‾⊥ᴚ∩ʞ]

@mods can you move this to right section i put it in news i see sorry.

Interesting yea it's quite a rollercoaster ride which i enjoy.I have 6 cards currently and i am afraid the bug has bit me real hard lol not only the profit side but i also enjoy the tech side i been building and fixing PC's for mostly friends and family.I have learned a lot since i started it's been fun

What cards you running?

 

[maq_]

yeah you can, a lot of engineers and geologists make a killing from working in a mine. Mining CEOs make millions a year.

 

[Joe Banker]

Making close to my salary mining but yeah, nice toy/clean debt fund.... Not sure my balls are big enough to drop my job and just mine.

 

[TJ_Online]

What cards you running?

2 x 1660ti
2 x 1660S
2 x 2060

For now ^^

 

[yannikmeyer]

2 x 1660ti
2 x 1660S
2 x 2060

For now ^^

Nice, you can def make a living of mining just will take a lot
Currently have:
22 x Rx 470 4gb
3 x 1660s
1x P106
and 1x 1060 6gb

I really love working with these things, and money is not the only reason why I mine cryptos, it is a big hobby of mine

 

[NI∀ƆOƆ‾⊥ᴚ∩ʞ]

2 x 1660ti
2 x 1660S
2 x 2060

For now ^^

Noice!

 

[Joe Banker]

I'm running 5x3080, 2x3070 1x2080ti x2 3060

 

[Nicgun]

I'm running 5x3080, 2x3070 1x2080ti x2 3060

Noicer!

 

[maq_]

I'm running 5x3080, 2x3070 1x2080ti x2 3060

Out of interest, after you factor in electricity costs, etc. and based on current coin prices what would a typical setup like this make a month (if you don't mind sharing)

 

[yannikmeyer]

I'm running 5x3080, 2x3070 1x2080ti x2 3060

´Have you already thought about what you are going to mine after EIP 1559?

 

[Qui_Illustrati]

Out of interest, after you factor in electricity costs, etc. and based on current coin prices what would a typical setup like this make a month (if you don't mind sharing)

and capital outlay - that surely should factor in as well no?

 

[yannikmeyer]

and capital outlay - that surely factor is as well no?

What I try to do is to buy cards that I can mine themselfs of within 3 months, I wouldnt recommend any longer, but the market does never stay the same so it might take longer or shorter. But capital outlay is def a factor.

 

[Joe Banker]

´Have you already thought about what you are going to mine after EIP 1559?

Raven, ergo, etc

 

[yannikmeyer]

What I try to do is to buy cards that I can mine themselfs of within 3 months, I wouldnt recommend any longer, but the market does never stay the same so it might take longer or shorter. But capital outlay is def a factor.

Then you also need to think about having good cooling systems in the summer since I had the problem with my mining room, that I did not have enough cooling and my rigs went down every 2 hours and had to reboot them manually.

 

[yannikmeyer]

Raven, ergo, etc

Cool cool, currently raven miner have about 280mh/s on raven atm and soon 340mh/s about only 120mh/s on etherum

 

[Toy Machine]

Whilst most people mine to make quick profits, not many consider the investment opportunity/side of it. What happens when mans sold all their ETH, 2.0 hits and a year later it like quadruples in value? Cry, that's what they do, cry.
But seriously, looking purely at the FIAT value in mining is doing yourself the injustice & you more than likely are only mining for the profit. Look at the currency as the standalone currency, given the point crypto is at now, in the next decade it will be more widely accepted [hopefully, it's still not a given as most things aren't] as a method of payment, and we currently has very little idea of what the currency itself is actually going to be valued at & what diversity it will have.

Man's shouldn't be getting into it purely to get in & out for the profit. You obviously can, but go long & actually invest in it. 1 ETH could literally be accepted as a house down payment in 5 years, or it could be worth 0. And I don't mean $0, I just mean flat dead & no longer existing.

Lots of people don't really get the technology behind it I don't think and it adds more volatility into the equation

 

[Joe Banker]

Out of interest, after you factor in electricity costs, etc. and based on current coin prices what would a typical setup like this make a month (if you don't mind sharing)

18k ish monthly

 

[yannikmeyer]

Whilst most people mine to make quick profits, not many consider the investment opportunity/side of it. What happens when mans sold all their ETH, 2.0 hits and a year later it like quadruples in value? Cry, that's what they do, cry.
But seriously, looking purely at the FIAT value in mining is doing yourself the injustice & you more than likely are only mining for the profit. Look at the currency as the standalone currency, given the point crypto is at now, in the next decade it will be more widely accepted [hopefully, it's still not a given as most things aren't] as a method of payment, and we currently has very little idea of what the currency itself is actually going to be valued at & what diversity it will have.

Man's shouldn't be getting into it purely to get in & out for the profit. You obviously can, but go long & actually invest in it. 1 ETH could literally be accepted as a house down payment in 5 years, or it could be worth 0. And I don't mean $0, I just mean flat dead & no longer existing.

Lots of people don't really get the technology behind it I don't think and it adds more volatility into the equation

100% agree with this, I am planning to mine a coin, take out the amount to pay the electricity I need and the rest ill put back in my wallet and keep it there for a later time, and I am also really interested in the ideas behind some of the crypto currencies like raven.

 

[yannikmeyer]

18k ish monthly

what is you price kwh if I may ask

 

[Joe Banker]

55 to 60 units a day.

 

[Joe Banker]

4K power a month.