about 250$ / mo
mining crypto on the home machine
Ask HN: How much recurring income do you generate and from what?
21–30 of 33 posts
Re: Ask HN: How much recurring income do you generate and from what?
#22Earlier quoted context omitted.
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 incre…
Curious to know where you are running your mining rig? in your house/apartment or you rented some other place? Also is there any limit on how much electricity you can use in apartment/House?
Single family house.
In fact i don't have any space to put rig but in a dining room. It's quiet though so after short fight with wife, I won.
Total power consumption ~3-5 kW
Re: Ask HN: How much recurring income do you generate and from what?
#23Earlier quoted context omitted.
You use the electricity, you pay for it. Why are you implying an ethics issue with that? Someone wasting the same amount of electricity to play games 10 hours a day is doing anything better?
As I said, I'm not placing any value judgment myself. There has been some debate around the energy consumption of crypto mining. Some are arguing that there is some environmental impact to that. I'm simply asking what this person's thoughts on it are. https://techcrunch.com/2021/03/21/the-debate-about-cryptocur... https://www.bbc.com/news/technology-56012952 https://hbr.org/2021/05/how-much-energy-does-bitcoin-actual…
My thoughts are that any complaints about negative effects of mining on environment is a fud and clickbait.
This is actually driven by financial firms and politicians who have their own agenda in this game.
And no one from that list is going to prioritize care for environment higher than their own profits and powers.
Re: Ask HN: How much recurring income do you generate and from what?
#24Lately 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.
Where are you based that it allows you to generate this profit? These days, it’s pretty hard to get hands on crypto mining hardware as well!
The are sites that pre-estimate your profits given specific hardware.
GPU's are hard to get indeed - but everyone has it's own ways. If you're willing to pay 50-100% above retail - you can get powerful GPU's from eBay at any time.
Re: Ask HN: How much recurring income do you generate and from what?
#25Lately 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?
To answer again - I don't think crypto mining is in any way a question of ethics.
No different from datacenters or cloud computing business.
Re: Ask HN: How much recurring income do you generate and from what?
#26Earlier quoted context omitted.
You use the electricity, you pay for it. Why are you implying an ethics issue with that? Someone wasting the same amount of electricity to play games 10 hours a day is doing anything better?
IMO the source of electricity matters. Generally we should aim to reduce carbon emissions, so if your electricity comes from a coal power plant, then there is greater consequence for the usage compared to renewable energy usage.
I agree. But consumers has nothing to do with the source of electricity. They're consumers, not producers.
You cannot blame consumer for turning on the light in his place because the source of electricity is not too green.
If we need to change the source of anything from bad to good - that the conversation with the respective governments and politicians.
Re: Ask HN: How much recurring income do you generate and from what?
#27Earlier quoted context omitted.
IMO the source of electricity matters. Generally we should aim to reduce carbon emissions, so if your electricity comes from a coal power plant, then there is greater consequence for the usage compared to renewable energy usage.
I agree. But consumers has nothing to do with the source of electricity. They're consumers, not producers. You cannot blame consumer for turning on the light in his place because the source of electricity is not too green. If we need to change the source of anything from bad to good - that the conversation with the respective governments and politicians.
Its true you may not get to choose your household electricity source. But that doesn't give you free pass to start consuming as many kilowatts as you want. We make choices with what we consume. You don't get to buy clothes made from slave labour and claim you had nothing to do with it.
I don't get to leave my car idling 24/7, burning gasoline and spitting out toxic fumes. It can't be morally justified with "well I paid for it, mind your own business, go lobby the government to make a law against leaving my car on 24/7".
Re: Ask HN: How much recurring income do you generate and from what?
#28about 250$ / mo mining crypto on the home machine
How? That's like $8 a day. Can a 3080 even do that?
Re: Ask HN: How much recurring income do you generate and from what?
#29Earlier quoted context omitted.
I ask this passing no value judgment myself: how do you feel about the ethics of crypto mining?
To answer again - I don't think crypto mining is in any way a question of ethics. No different from datacenters or cloud computing business.
Crypto mining also bolsters an economy for criminals - I'd argue that speculation and criminal enterprises are the only two real use cases for cryptocurrency.
Anyone who thinks the environmental impact of crypto is the only ethical problem hasn't dug deep enough.
Re: Ask HN: How much recurring income do you generate and from what?
#30Earlier quoted context omitted.
To answer again - I don't think crypto mining is in any way a question of ethics. No different from datacenters or cloud computing business.
Crypto mining also bolsters an economy for criminals - I'd argue that speculation and criminal enterprises are the only two real use cases for cryptocurrency. Anyone who thinks the environmental impact of crypto is the only ethical problem hasn't dug deep enough.
Technology bolsters an economy for criminals. The internet created a whole new class of fraudsters, thieves, and extortionists.
They existed before the internet, after the internet, before crypto, and will continue to be around after crypto.