KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 15 minutes ago, eddy4823 said: Mining is easy to setup if you have a good GPU and I did for 3 months and got around 40k. After the rewards (ETH per day) reduced, I stopped. It was not about the ETH price drop. ETH was 1500USD when I started mining and is still a lot more than that now, but TEH per day has reduced since GAS fee has been reduced. Keep an eye on GAS fee before you make any investment. After ETH 2.0, it can't be mined, right? Will need to look for alternative currencies? Quote Link to comment Share on other sites More sharing options...
eddy4823 Posted June 4, 2021 Author Report Share Posted June 4, 2021 3 minutes ago, KunjanPSD said: After ETH 2.0, it can't be mined, right? Will need to look for alternative currencies? ETH 2.0 isn't coming before 2022 end I think. and yeah, ETH might the need for miners completely. But the prices will rise a lot. Everything is a speculation though, but before the rewards dropped, I was mining ETH 24x7 and spending it to buy and hold my favorite cryptocurrencies. Quote Link to comment Share on other sites More sharing options...
TheGothamChampion Posted June 4, 2021 Report Share Posted June 4, 2021 (edited) 1 hour ago, KunjanPSD said: After ETH 2.0, it can't be mined, right? Will need to look for alternative currencies? I don't think anything other than ETH is worth mining. Edited June 4, 2021 by Thegothamchampion Quote Link to comment Share on other sites More sharing options...
Bhpian Bali Posted June 4, 2021 Report Share Posted June 4, 2021 I am ready to invest Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 6 minutes ago, Bhpian Bali said: I am ready to invest in the rig pool? Quote Link to comment Share on other sites More sharing options...
Bhpian Bali Posted June 4, 2021 Report Share Posted June 4, 2021 9 minutes ago, Right said: in the rig pool? Yes Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 Alright. interested in Rig-pool @Bhpian Bali @KnackChap @KunjanPSD @Thegothamchampion @Rey @Right @TAZ 25k x 7 = 1.75L Roughly one mid-range rig + 12 months of electricity. Taz, tell us, the break-even and profit in 1 year. Quote Link to comment Share on other sites More sharing options...
TheGothamChampion Posted June 4, 2021 Report Share Posted June 4, 2021 14 minutes ago, Right said: Alright. interested in Rig-pool @Bhpian Bali @KnackChap @KunjanPSD @Thegothamchampion @Rey @Right @TAZ 25k x 7 = 1.75L Roughly one mid-range rig + 12 months of electricity. Taz, tell us, the break-even and profit in 1 year. Paisa kaha bhejna hai. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 20 minutes ago, Right said: Alright. interested in Rig-pool @Bhpian Bali @KnackChap @KunjanPSD @Thegothamchampion @Rey @Right @TAZ 25k x 7 = 1.75L Roughly one mid-range rig + 12 months of electricity. Taz, tell us, the break-even and profit in 1 year. That amount isn't enough. We probably need to get 2-3 more guys and double that amount. Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 7 minutes ago, Thegothamchampion said: Paisa kaha bhejna hai. Just now, KunjanPSD said: That amount isn't enough. We probably need to get 2-3 more guys and double that amount. Need to figure out the economics. if we double the investment in 1 year. It will be awesome. But if we get 15-20% returns, it will be just fun-for experiment. Quote Link to comment Share on other sites More sharing options...
TAZ Posted June 4, 2021 Report Share Posted June 4, 2021 28 minutes ago, Right said: Alright. interested in Rig-pool @Bhpian Bali @KnackChap @KunjanPSD @Thegothamchampion @Rey @Right @TAZ 25k x 7 = 1.75L Roughly one mid-range rig + 12 months of electricity. Taz, tell us, the break-even and profit in 1 year. In that amount I doubt any decent rig can be configured. 2x3060 can be built, 100 hash rate rig. $7-8 per day, monthly about ~275-300$. break-even in 9 months I guess. but this has lots of permutations and combinations. Real time rewards can differ. (all the profits I calculate are after deducting $0.50 electricity per day, Which varies on the power of the rig) Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 5 minutes ago, Right said: Need to figure out the economics. if we double the investment in 1 year. It will be awesome. But if we get 15-20% returns, it will be just fun-for experiment. I assume a conservative return of 8-10% a month, we'll probably break even in 10 months. So it will take time. But just to think about it, someone (Taz, obviously) will need to look after the system, it's much more than just let it run kind of thing. I haven't done much research on this so obviously Taz can suggest a specific rig which can generate meaningful returns. Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 8 minutes ago, TAZ said: In that amount I doubt any decent rig can be configured. 2x3060 can be built, 100 hash rate rig. $7-8 per day, monthly about ~275-300$. break-even in 9 months I guess. but this has lots of permutations and combinations. Real time rewards can differ. (all the profits I calculate are after deducting $0.50 electricity per day, Which varies on the power of the rig) 2 minutes ago, KunjanPSD said: I assume a conservative return of 8-10% a month, we'll probably break even in 10 months. So it will take time. But just to think about it, someone (Taz, obviously) will need to look after the system, it's much more than just let it run kind of thing. I haven't done much research on this so obviously Taz can suggest a specific rig which can generate meaningful returns. 9months break even means ~30% returns on investment in one year. Not bad but nothing great either. Break even should come at 6 months, cuz rig will wear down too. Quote Link to comment Share on other sites More sharing options...
TAZ Posted June 4, 2021 Report Share Posted June 4, 2021 Remember guys, The rig components can be sold out too later on. Say after 18 months ETH mining has stopped. We can sell the GPU's at 50% of the cost, thats also profit cos we have recovered the cost earlier. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 1 minute ago, Mr. Comingle said: 9 months break even means 133% ROI in 1 year. Its not actually breakeven its payback. Yeah, it's quite a lot of time though. Not sure if it's viable for let's say, 2 years? Need to choose the coins which atleast somewhat retain their value and have to figure out how long the rig can last. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 2 minutes ago, TAZ said: Remember guys, The rig components can be sold out too later on. Say after 18 months ETH mining has stopped. We can sell the GPU's at 50% of the cost, thats also profit cos we have recovered the cost earlier. I think Taz, you need to do some good old fashioned pencil work to lay it out for us ? Exact rig, exact currency, duration of the project etc etc because you have the most experience or may I say the only experience? 1 Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted June 4, 2021 Report Share Posted June 4, 2021 2 minutes ago, Mr. Comingle said: You can add me to the list as well. I can put up 25k. Let's rope @Jigsaw in. Uska paisa kab kaam ayega. Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 (edited) 12 minutes ago, Mr. Comingle said: 9 months break even means 133% ROI in 1 year. Its not actually breakeven its payback. After 9 months, mining minus electricity is hitting bottom line so its crazy returns even if the rig disintegrates after 2 years. wait what? 9 months mein we recover cost of rig, so 1 year mein investment pe 33% profit aayega. 3% electricity ke liye chhor diya. oh ok. I made a mistake I should’ve said profit not ROI. Edited June 4, 2021 by Right Quote Link to comment Share on other sites More sharing options...
TAZ Posted June 4, 2021 Report Share Posted June 4, 2021 Guys check out "solar miner India" on YouTube. check his videos, you can get an idea of what exactly mining is, how its done, what all is in the rig & most importantly profitability. 1 Quote Link to comment Share on other sites More sharing options...
Right Posted June 4, 2021 Report Share Posted June 4, 2021 (edited) 5 minutes ago, KunjanPSD said: I think Taz, you need to do some good old fashioned pencil work to lay it out for us ? Exact rig, exact currency, duration of the project etc etc because you have the most experience or may I say the only experience? Yeah. +1 Lets say rig sells for 50% after 1.5yrs, we would’ve made 140% profit. Edited June 4, 2021 by Right Quote Link to comment Share on other sites More sharing options...
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