Everyone should be mining Ethereum even if they poor.

[RecondoJoe]

https://i.imgur.com/Xe8ExPr.jpg

Right now you can buy pre-built computers with GPUs in them for almost the exact same price as just the GPU. (https://i.imgur.com/fc9Nivp.png)

Even if you can't afford $1,299 for a new computer, you can literally get it on credit and the amount of Ethereum you will mine each month will easily cover your monthly payment for the computer. Just some food for thought.

I personally got lucky because I'm a nerd and already had a 2080, a couple 1080 TIs, and a couple of 1660s, so when I discovered mining I already had a pretty good hash-rate, but this is a good starting point for someone who has never mined before and lacks the hardware to do so.

I actually ordered one of these myself and it will be here on Monday. I wouldn't recommend this if I thought it was dangerous.

[magnetaress]

Hey mom. Sorry your electric bill is $800, want some cold McDonald's because I don't have a car and need to door dash it?

Fucking 2021 is weird.

[RecondoJoe]

Hey mom. Sorry your electric bill is $800, want some cold McDonald's because I don't have a car and need to door dash it?

Fucking 2021 is weird.

You know what's crazy is, we haven't even noticed a difference on our electric bills since we started mining. I think it's because we live in a small rural town because I've had friends complain about the fact that their power bill stays the same even when they're out of town for a month. Apparently they just guesstimate how much power people should be using or something rather than sending someone out to read meters?

But for the most part, the cards I'm using are also super efficient. Those wal-mart computers that have 1660s in them... well those 1660s can easily get 31 mh/s for 70 watts which isn't bad at all. The ones I'm looking to retire are my 1080s. More watts than a 3060 for about half the hash rate.... youch, lol. Like maybe 2 more mh/s than a 1660, for over twice the watts. Still profitable, but I'd like to get rid of them in the near future.

[magnetaress]

Yeah. Definitely weird. Good for you though!

[HalflingSpergand]

This is worse for you than being a heroin addict and sleeping outside

[magnetaress]

U think it's a good investment for stimulus? I'd rather spend mine on a gym membership.

[BlackBellamy]

Apparently they just guesstimate how much power people should be using or something rather than sending someone out to read meters?


So your Ethereal Dreams are predicated on the power company NEVER reconciling the meters?

[GinnasP99]

You know what's crazy is, we haven't even noticed a difference on our electric bills since we started mining. I think it's because we live in a small rural town because I've had friends complain about the fact that their power bill stays the same even when they're out of town for a month. Apparently they just guesstimate how much power people should be using or something rather than sending someone out to read meters?

Start growing weed immediately

[Gwaihir]

Start growing weed immediately

Outdoor to save on power costs. Technically, you should have already germinated the seeds in mid-february and planted in the native soil early this month, but its not too late to build your black market empire, if you're willing to sell for a lesser price than an Oregonian native.

[Tunabros]

What if RecondoJoe is actually a mega chad and we're all jealous

but that sounds like cap

[Hibren]

You know what's crazy is, we haven't even noticed a difference on our electric bills since we started mining. I think it's because we live in a small rural town because I've had friends complain about the fact that their power bill stays the same even when they're out of town for a month. Apparently they just guesstimate how much power people should be using or something rather than sending someone out to read meters?

Electric company's bill on estimated usage based on past usage for the location, they do quarterly or yearly meter readings based on the area. In a few months you're going to get nuked with a bill that's triple your average or more when they go out and reconcile the difference. Have none of you ever payed your own bills?

P.S. I know this from persona experience, I got nailed with a $1200 account closing bill when I moved out of a town house I lived in with 2 other people after not having meter readings done for like 2 years because it was in our basement and people weren't home when they came. Go submit a meter reading online.....

[HalflingSpergand]

for tuna: Be less of a gay try hard ur starting to sound like budnik

[Jibartik]

I am literally gonna setup my PC to start mining because of this thread, i got an extra one just chillin here thats like on all the time.

does it suck up a lot more power mining than when it's just idling? im sure.. but how much?

Ill at least report back on the 26th of next month to see what my bill/results were!

[RecondoJoe]

U think it's a good investment for stimulus? I'd rather spend mine on a gym membership.

I use Ethereum to pay for my gym membership, literally, hehe.

[RecondoJoe]

I am literally gonna setup my PC to start mining because of this thread, i got an extra one just chillin here thats like on all the time.

does it suck up a lot more power mining than when it's just idling? im sure.. but how much?

Ill at least report back on the 26th of next month to see what my bill/results were!
I think it actually depends on what you're mining with. Like the 1660 Ti I have.. when you over-clock it, you actually get a higher rate by turning the power supply down... below it's normal settings. It uses about as much electricity as a light bulb...

[Knuckle]

crypto currencies stopped being profitable for individuals to mine a long time ago, US municipilities bill on kw/hr, they are also considering "peak load" billing, which will not be cheaper. You are not making a return on investment at this stage unless you mine some penny crpyto that shoots up and you sell after. In which case, it would of probably been cheaper to just buy the crypto before it shot up.

[RecondoJoe]

crypto currencies stopped being profitable for individuals to mine a long time ago, US municipilities bill on kw/hr, they are also considering "peak load" billing, which will not be cheaper. You are not making a return on investment at this stage unless you mine some penny crpyto that shoots up and you sell after. In which case, it would of probably been cheaper to just buy the crypto before it shot up.
This is literally fake news, fam. The only thing that has changed happened within the last couple of months (price of GPU went up). Now instead of breaking even in 2 months, you break even in 6-8 months. But if you already owned the GPUs and bought them for gaming, you're already more profitable by beginning to mine than you would be by choosing not to.

In this particular case, someone who cannot even afford a 3060 could literally finance a computer and allow the Ethereum to make the monthly payment on it and still pocket $50/monthly afterwards. You really shouldn't talk about things you know nothing about.

Edit: I think you're one of those people who misinterprets people like Vosk when he says that it's cheaper to buy Crypto than it is to mine it. That's only true to in the short term. Someone bought $800 worth of Ethereum, wow that was fast. Someone bought an $800 GPU to mine Ethereum. 3 months later they've only mined $600 worth of Ethereum. Wow, they look so dumb compared to the person who just bought the Crypto. 12 months later they have $2400 worth of Ethereum, which is roughly $1600 worth of Ethereum after you account for the cost of the card. If you're looking to day trade Ethereum, you're probably better off buying some crypto to trade with. But if you're patient and mine crypto, you'll earn significantly more crypto once you hit the break-even point, which for most GPUs, is 8-10 months in the current market (price of GPUs won't stay this high forever, it's not sustainable).

You'll never convince me it's not profitable however, because I literally used GPUs I had sitting around for months, barely being used, to literally buy more GPUs. Imagine that. Having a $1200 GPU arrive in the mail that you bought using Crypto you never spent a dime on, other than electricity costs (which are extermely low for non ASIC miners).

[magnetaress]

You should start a non profit charity that takes donations to buy hardware for mining rigs to reinvest in a video gamer rehabilitation program and organic food preparation course.

U can thank me later after you move to your pleasure palace on the floating cities of venus.

[Knuckle]

This is literally fake news, fam. The only thing that has changed happened within the last couple of months (price of GPU went up). Now instead of breaking even in 2 months, you break even in 6-8 months. But if you already owned the GPUs and bought them for gaming, you're already more profitable by beginning to mine than you would be by choosing not to.

In this particular case, someone who cannot even afford a 3060 could literally finance a computer and allow the Ethereum to make the monthly payment on it and still pocket $50/monthly afterwards. You really shouldn't talk about things you know nothing about.

Edit: I think you're one of those people who misinterprets people like Vosk when he says that it's cheaper to buy Crypto than it is to mine it. That's only true to in the short term. Someone bought $800 worth of Ethereum, wow that was fast. Someone bought an $800 GPU to mine Ethereum. 3 months later they've only mined $600 worth of Ethereum. Wow, they look so dumb compared to the person who just bought the Crypto. 12 months later they have $2400 worth of Ethereum, which is roughly $1600 worth of Ethereum after you account for the cost of the card. If you're looking to day trade Ethereum, you're probably better off buying some crypto to trade with. But if you're patient and mine crypto, you'll earn significantly more crypto once you hit the break-even point, which for most GPUs, is 8-10 months in the current market (price of GPUs won't stay this high forever, it's not sustainable).

You'll never convince me it's not profitable however, because I literally used GPUs I had sitting around for months, barely being used, to literally buy more GPUs. Imagine that. Having a $1200 GPU arrive in the mail that you bought using Crypto you never spent a dime on, other than electricity costs (which are extermely low for non ASIC miners).

I know a significant amount of it, because I did cost-analysis breakpoints when I dumped my 401k and chose to invest in Crypto vs. hardware to mine in 2018, and I work in finance audit. If you don't understand the most basic facts of crypto, that the equation to mine the coin becomes increasingly difficult to solve a node with the currency therefore increasing the time you run a GPU under load per payout, then you are missing the point. The illusion that your electric bill does not significantly increase is bogus, and GPU prices have and continue to be inflated due to the demand for making mining rigs, the value of that is for the warehouse level operations which have the advantage of economy of scale, doing due diligence in that arena has netted similar results, that the cost benefit shrinks and requires larger scale and significantly better upfront to turn a good margin longterm compared to where we were sitting in 2016.

If you want to screenshot when you mine past your breakout for equipment cost, I'll gladly run an estimate to run that Power supply 24x7 that duration based on your zipcode to see what that adds to your breakeven.

[HalflingSpergand]

He doesnt pay his electric bill

[magnetaress]

I would love to specially engineer a solar or low power etherium miner. I think even if it took two decades to mine one, then having hundreds in parallel may be an interesting investment.

Or design an etherium bouy that just was 1 unit soaking up the oceans energy. Imagine a little patch out in the south sea. Not really big enough to get noticed. Doing its thing.

Ya'll some good ideas here.

Might be cheaper to crack hydrocarbons directly into food, gasoline straight from the atmosphere in the long run tho than buying it with etherium.

[Snortles Chortles]

https://i.imgur.com/PNDaOwF.jpg

[Arvan]

Whose still living in their moms basement?

[magnetaress]

Whose still living in their moms basement?

Do you have a good relationship with a matriarchal role model or authority?

[RecondoJoe]

It came in the mail yesterday BTW. I can tell you that I have absolutely no regrets.

https://i.imgur.com/JVd8Yiu.jpg
https://i.imgur.com/2DRGRGH.jpg
https://i.imgur.com/4OcYImt.png

Hasn't quite ran for 24 hours yet, I passed the hell out after I got it up and running.

[Knuckle]

Prebuilt PC, wonder how efficient that PSU is? any pics of the PSU model?

[RecondoJoe]

Prebuilt PC, wonder how efficient that PSU is? any pics of the PSU model?

tbh idek what this means, i just bought this for the GPU. Can tell you from looking inside, is one of the lesser desirable GPUs, but it's still getting a great hashrate. Everything inside the case looks cheap, except for the case itself. The case is really well built, possibly one of the best I've ever seen in a pre-built.

[Baler]

Does $5 a day cover my electric bill?