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Mining Crypto

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how much money do you have to put to get started?
how much time does it take to earn that back?
 
zbizu said:
how much money do you have to put to get started?
how much time does it take to earn that back?
Click to expand...
any graphics card with above 6 gb memory will make profit unless u pay a lot for electricity for me 1x 1660 is in around 400 euro here ( but i got lucky and bought 5500xt for 220 euro for example which gets 25mh/s)

anyhow
1 card generates 80-100w
1 card makes around 1.50+/- euro right now with current eth price
1 card uses around 32 cents of electricity
math i leave to you but I can tell u from 2500 euro initial investment made 1000 in 2 months so depends if All time high happens anytime soon :) currently rig is worth 5.5k (market price with power supplies mobo all cables) could probably get 7-8k off someone who want to get into it but dont want to think (thanks to shortage the cards are pretty good price still in around 400 euro amazon offers 1660s for nearly 500!) I went on fb marketplace for poland i seen some cards are cheap enough i even checked and gt 1030 is like 100 euro card and can make back itself in 3 months if the mined coin is not going down if it goes up it can even make back in month so all depends whether u can hold coins or sell immediately for me 48 euro electricity monthly ( now gonna be about 55 because another card coming ) so whatever ether will be in year now we will most likely liquidate at end of year.

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zbizu said:
how much money do you have to put to get started?
how much time does it take to earn that back?
Click to expand...
Banano folding all you need is a working computer and you make at least 10 ban a day or so just using CPU. If you used both CPU and GPU you'd make 100-200 ban a day.

It's great for people who don't have rigs like this guy does. If you're ETH or BTC mining without one, you'll probably make more just folding for Banano. It's also a lot less resource intensive on your computer so you're able to actually do shit on it while folding.
 
tbh I hate both crypto and the concept of mining. It made gpus more expensive than used cars. Asus 1050 ti pleb here. My card is more expensive than years ago when I bought it. Now if I wanted to upgrade, I'd have to choose between a new car and a gpu (well, at least last time I checked 3080 was at 14k pln and used cars start from around 5k).
 
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zbizu said:
tbh I hate both crypto and the concept of mining. It made gpus more expensive than used cars. Asus 1050 ti pleb here. My card is more expensive than years ago when I bought it. Now if I wanted to upgrade, I'd have to choose between a new car and a gpu (well, at least last time I checked 3080 was at 14k pln and used cars start from around 5k).
Click to expand...
Well you hate it because you didn't try it. I was sceptical at first too but after I realized what cash money this shit is I am all in. I expect to be making 10-20x times what I am making right now and never have to work day in my life again. I finally found something I love and btw. I was on 1050ti about 8 months ago. I was on gtx 480 about 3 weeks ago I was on gtx 770 about 2 months ago :) currently on 5500xt that semi mines and semi games will be getting 5600xt in 2 weeks time aswell so an upgrade but a welcome one! even ur 1050ti can mine some RVN coin and I can guarantee u if u do it when not gaming (even map editor or coding or in general computer idle it will atleast pay back ur electricity for having your computer on 24/7 if u decide to pay that anyways and hold RVN u can have nice new gpu probably in 1 year once the prices take off 50 1050ti's is already nearly minimum wage in poland after paying electricity. lol only need small botnet nowadays to handle shit imagine all those "free gta 5 mod menus" what kind of cash those shitheads make on kids who will turn off any antivirus
 
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zbizu said:
Isn't crypto heavily taxed in Poland?
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it is heavily taxed everywhere but you realize you can claim tax back? here where I am its 30% tax which you can claim at end of the year and get back
 
Would have to read more about that.

How much would a complete beginner have to spend to start assuming that he doesn't want to use his own pc?
 
msztax.pl

TAX ON CRYPTOCURRENCIES IN POLAND - 5 KEY DETAILS - MSZtax.pl

What is the tax on cryptocurrencies in Poland? Check out the 5 most important details!
msztax.pl msztax.pl

interesting stuff is
And remember: cryptocurrency-to-cryptocurrency exchange transactions are tax neutral.
and fact that u can withdraw at most bitcoin atms fully anonymous

any motherboard with ram and CPU that can handle a GPU in pcie slot and has some x1 can make u 3-4gpu mining easily
use some old hp H81 based mobos they tend to have 1x 16 lane and 3-4 x1 that means that u will fit x1 slots because the x16 will always cover 1 or more x1 slot then u need PSU i recommend any 750watt or MODULAR i can recommend only using risers that use 6pin power no molex or sata to not fry ur cards. radeon cards especially the XT 5xxx lineups are great because they are low TDP

tl;dr
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cbrm said:
For mining crypto, I recommend:

Ethereum and Bitcoin? Yes, but you have way more competition so you need to invest a lot to see gains.

Anything about crypto and tokens, just hit me on the PM.
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Been mining Helium for about 2-3 months with my free miner from Emrit.io. They send you a free miner and you keep 20% of the profits it gets. Last month I got $300.
 
I admire your Hobby, I'd love to get into it but I know a little to little about it.
Would really love to make a living of a hobby while I can focus on things I love to do like learning scripting ;D
 
hodleo said:
For mining crypto, I recommend:

Ethereum and Bitcoin? Yes, but you have way more competition so you need to invest a lot to see gains.

Anything about crypto and tokens, just hit me on the PM.
Click to expand...
@hodleo

I'm currently in university, I have access to free internet and free electricity, is there a way for me to order miners that I can just set up and earn from without having to spend a lot of money? I've already ordered Ermit miner but I suppose it will take some time until I receive it
 
iNux said:
@hodleo

I'm currently in university, I have access to free internet and free electricity, is there a way for me to order miners that I can just set up and earn from without having to spend a lot of money? I've already ordered Ermit miner but I suppose it will take some time until I receive it
Click to expand...
Other different option that you can receive in short term and that I know of, no. Not saying it might not exist atm.
 
iNux said:
I have access to free internet and free electricity
Click to expand...

Free for educational purposes and small uses. Sending/downloading large amounts of data not related to your studies and giving your university huge electricity bills will get you in trouble most likely.
 
Nothing like this website i have invested 3k€ And im about 7k+ month you can get paid everyday nobody trust them but it works well but until when? We dont know take a risk pm me if you want to see some screenshots or just search on google or YouTube about ChainMine use my ref code DeayRPp8 to have a 1TH/S for free you are not forced to do anything remember this kind of websites may go down anytime
 
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zbizu said:
Free for educational purposes and small uses. Sending/downloading large amounts of data not related to your studies and giving your university huge electricity bills will get you in trouble most likely.
Click to expand...

You misunderstood. What I said did not refer to me wanting to use university electrical power or the internet. I have my own house which provides me with free electricity and internet. If you've lived in Sweden, you know that most of the student homes provide you with free electricity and internet, and no not the student corridors.

Anyway, I'd appreciate advice from people here, is there any way to start mining by investing, I've heard about these cloud miners, are they safe? @hodleo
 

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