this is the rig i want to build next
https://lh3.googleusercontent.com/-...zAZuymprSraECT6hwCK8BGAsYHg/s0/2021-02-10.jpg
https://lh3.googleusercontent.com/-...zAZuymprSraECT6hwCK8BGAsYHg/s0/2021-02-10.jpg
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ETHEREUM - Let's see 'em...your rig
- Thread starter Nuke And Juke
- Start date
Still curious about your power consumption. Have you put a meter on the rig and measured kwh usage?
A typical, starter/home-brew mining setup is going to use around 30 to 60% of mined profit in power use; that's assuming you don't have to supplement with HVAC cooling during warmer months. After accounting for power, the break even on your equipment will typically be about 5 or 6 months.
You might also have been better off just setting up the mining with any old PC and a lower level graphics card, just to get the software setup experience, and then put the gaming rig $ toward a genuine, multi-gpu chasis or even an ARM setup.
One of the advantage of living in Georgia is our kwh rate is one of the best. I think we pay about $0.10 per kwh all in. So even if i was to burn thru 1kw every hour, that's at most $2.40 a day, mining at $11 a day. So for now, it's not material enough.
How does “mining” work?
Think of it as...using your computer as an asset to solve block chain algorythmns. For your contribution to the blockchain, you are awarded certain amount of the "Ether" coin. Which then can be sold or bought by others
I doubt you pay 10 cents "all in." More typical for residential is 12 to 15 cents. And Georgia Power customers (or EMC customers "downstream" of Georgia Power) will be paying surcharges for the Votgle plant cost overruns for decades to come.
Regardless, it seems like the economics will work long enough to pay for your rig.
Winter rates are significantly lower than summer rates
Before anyone runs off and drops a couple grand on a high end gaming rig, there is a well established pattern to crypto mining scenarios like this: When a currency takes off and starts to increase in value, it attracts more miners. And more hardware investment. Before long, people with access to free or near free electricity and unlimited cooling capacity deploy hundreds of thousands or millions of dollars worth of custom ASIC built mining computers that will run circles around Nuke's video game setup.
When that happens, the blockchain calculations progress much faster, resulting in slower systems (graphics card setup) not being able to cost effectively mine.
In that way, crypto mining is a bit like gambling with a natural pyramid scheme built in. You bet on a particular currency, but then players with automatic-winning advantages start to play, and you can no longer win.
If you want to try to make money on Ethereum crypto, take the money you might spend on a mining rig, and just buy the coin outright. If Ethereum appreciates even a fraction of what Bitcoin did, you'll be way ahead of the ROI on Nuke's mining setup.
When that happens, the blockchain calculations progress much faster, resulting in slower systems (graphics card setup) not being able to cost effectively mine.
In that way, crypto mining is a bit like gambling with a natural pyramid scheme built in. You bet on a particular currency, but then players with automatic-winning advantages start to play, and you can no longer win.
If you want to try to make money on Ethereum crypto, take the money you might spend on a mining rig, and just buy the coin outright. If Ethereum appreciates even a fraction of what Bitcoin did, you'll be way ahead of the ROI on Nuke's mining setup.
so i
Just askin' cuz something today is better than nothing
So if you mined a BITCOIN back in the day...for next to nothing...is it your position that it's still better to just buy a bitcoin back in the day? Because if you did buy one today...your theory holds true...
Just askin' cuz something today is better than nothing
