It’s always interesting to know the (side) hustles people are running that, in their opinion, provides recurring revenue that is either a good source or passive income or their main source of income.
Ask HN: How much recurring income do you generate and from what?
1–10 of 33 posts
Re: Ask HN: How much recurring income do you generate and from what?
#2Lately getting excited about crypto mining.
Current project is to complete the rig that generates profits equal to my monthly mortgage payments.
Well on a way. And it's lots of fun - i never assembled computer before :)
To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
Re: Ask HN: How much recurring income do you generate and from what?
#3Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
I'm very unfamiliar with this, but is there additional ongoing costs in terms of extra energy consumption? Do you know if this rig is changing your monthly energy costs?
Re: Ask HN: How much recurring income do you generate and from what?
#4Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
What kind of depreciation do you get on crypto mining hardware though? Will that setup still be profitable in x months, when better performing hardware exists?
Re: Ask HN: How much recurring income do you generate and from what?
#5Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
I'm very unfamiliar with this, but is there additional ongoing costs in terms of extra energy consumption? Do you know if this rig is changing your monthly energy costs?
Yes, and my calculations are after electricity costs of about $0.12 kW/h
Re: Ask HN: How much recurring income do you generate and from what?
#6Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
What kind of depreciation do you get on crypto mining hardware though? Will that setup still be profitable in x months, when better performing hardware exists?
The hardware pays for itself with current conditions remain constant (which is never the case!) in about 8 months.
It uses high end graphics cards RTX 3060Ti and RTX 3080 that shouldn't go to zero resale value even in a year or two.
Mining for the same coin typically produces less and less of that coin due to difficulty increase.
However difficulty increase for the same coin typically associated with it's price increase as well.
So to derive most benefits from mining it's better to mine solid coins (like ETH right now) and hold them.
I currently mining non-ETH coin that increased in price 30% in a week by itself.
So this helps to make this venture more beneficial.
And then I use dedicated mining OS (HiveOS) that allows to control the whole thing fully remotely and in fact switch mining to more profitable coins dynamically.
Re: Ask HN: How much recurring income do you generate and from what?
#7Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
I ask this passing no value judgment myself: how do you feel about the ethics of crypto mining?
Re: Ask HN: How much recurring income do you generate and from what?
#8Lately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
I ask this passing no value judgment myself: how do you feel about the ethics of crypto mining?
Crypto mining is solving math equations.
Just like AI.
Lots of fud aroud this is spread by entities who has way more commercial interest than "doing good".
I have absolutely no reservations about it.
I'm all for making energy sources more efficient and green and whatnot.
Re: Ask HN: How much recurring income do you generate and from what?
#9Earlier quoted context omitted.
I ask this passing no value judgment myself: how do you feel about the ethics of crypto mining?
Crypto mining is solving math equations. Just like AI. Lots of fud aroud this is spread by entities who has way more commercial interest than "doing good". I have absolutely no reservations about it. I'm all for making energy sources more efficient and green and whatnot.
Say a possible way to extract gold is to run a hose outside your window and let it wash away the dirt. Sometimes flakes of gold are found after enough dirt has washed away.
It's true that many other people use water in other ways. I'm sure industry uses a lot of water.
Are you comfortable with this approach yourself?
Re: Ask HN: How much recurring income do you generate and from what?
#10Earlier quoted context omitted.
Crypto mining is solving math equations. Just like AI. Lots of fud aroud this is spread by entities who has way more commercial interest than "doing good". I have absolutely no reservations about it. I'm all for making energy sources more efficient and green and whatnot.
Say a possible way to extract gold is to run a hose outside your window and let it wash away the dirt. Sometimes flakes of gold are found after enough dirt has washed away. It's true that many other people use water in other ways. I'm sure industry uses a lot of water. Are you comfortable with this approach yourself?
I'm comfortable with crypto mining.