I mine cryptocurrency and make about $110/day. I have two L3++s, an AvalonMiner 1246, six RTX 3080s, an RTX 3090 and a couple older cards. It more than pays for the mortgage, and after electricity (residential rate) my profit is about $100/day. I also have the GPUs in a grow tent (designed for growing marijuana) with an 8 inch in-line fan hooked up to the supply of my home’s HVAC system. I’m heating my whole house wi…
Nice thats a lot of profit! Is there a “catch”? Are you getting super cheap electricity. Whats the depreciation like on the gear per day?
I mine cryptocurrency and make about $110/day. I have two L3++s, an AvalonMiner 1246, six RTX 3080s, an RTX 3090 and a couple older cards. It more than pays for the mortgage, and after electricity (residential rate) my profit is about $100/day. I also have the GPUs in a grow tent (designed for growing marijuana) with an 8 inch in-line fan hooked up to the supply of my home’s HVAC system. I’m heating my whole house wi…
Can you ELI5 how making small amounts of money in crypto works? I thought it was a "winner take all" kind of arrangement where whomever solves the "puzzle" (for lack of a better word) first gets all the bitcoin as a reward, until the next block is up and ready to be solved. You're talking about making $100 a day - a very tiny fraction of one bitcoin - how does that work?
Back in the early times, 'solo mining' was trying to find actual block target values and would yield the full reward, winner takes all. Mining pools were invented, that aggregate a whole bunch of miners all working on the same thing. Although there is only one true winner a block, the rewards are shared among all the miners, prorata their submitted hash rate. Care was taken by miners not to use one big pool, and keep the number of blocks produced to be The pool accepts 'shares' of 'close but not quite' values to prove that the client is actually doing work.
Then, you had the emergence of marketplaces of hash power -- you could bid on or sell a specific number of hashes a second for a given time. The highest bidder would be able to point your mining hardware at their choice of pool with their payout credentials.
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I own 4 shares in the S&P 500. I developed trading strategies to sell my shares and buy them back at key points using Fibonacci retracements. Best business ever. And if I leave it it still makes money. I’m nowhere near $500/month but learning to trade simply has taken me years and I’m very proud of my smol accomplishment.
How long have you been actively buying and selling? How often do you "lose" (meaning, you bought and it goes down, you've sold too early, etc?)
I've earned about $1500 a month for the last ten years helping senior citizens use Windows PCs. I also sell refurbished laptops for about 1/2 of what new laptops costs. I've sold over 200 laptops in the last 3 years.
All it takes is a little patience. I only charge $25 an hour and have more work than I can handle.
I am working on a program to backtest it. Honestly, I still have much to learn. I do things visually. So I take the little fib retracement chart tool in trading view and make the anchor at the beginning of a price movement and align the lines to the closing prices of significant support/resistance (defined mathematically as any 5 bars such that the the middle bar has the lowest low or highest high in like pyramid for…
I'm sorry to say you're seeing the future in tea leaves, but I guess you're learning some stuff along the way.
I think that trading is ultimately a creative endeavor and no matter how one trades whether it's based on phases of the moon or insider information, one needs to know when they are entering and exiting the market. Trading is an incredibly fun and creative endeavor and as long as one takes the time to precisely define what they are doing, it is great <3
I mine cryptocurrency and make about $110/day. I have two L3++s, an AvalonMiner 1246, six RTX 3080s, an RTX 3090 and a couple older cards. It more than pays for the mortgage, and after electricity (residential rate) my profit is about $100/day. I also have the GPUs in a grow tent (designed for growing marijuana) with an 8 inch in-line fan hooked up to the supply of my home’s HVAC system. I’m heating my whole house wi…
How much did the setup cost?
I saw a similar post where the poster was making a decent amount but wasn’t yet profitable because of $30k in startup costs.
I mine cryptocurrency and make about $110/day. I have two L3++s, an AvalonMiner 1246, six RTX 3080s, an RTX 3090 and a couple older cards. It more than pays for the mortgage, and after electricity (residential rate) my profit is about $100/day. I also have the GPUs in a grow tent (designed for growing marijuana) with an 8 inch in-line fan hooked up to the supply of my home’s HVAC system. I’m heating my whole house wi…
Biggest question that comes to my mind - if you can make this profit so consistently, why not triple your rig? Or even x10, or x50?
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