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Your best passive income? (2014)

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Re: Your best passive income? (2014)

#411

Post by driverdan »

arca_vorago wrote: post #286
driverdan wrote: post #231

I'm currently earning around $45-60 a day mining cryptocurrencies with a little over $5000 in hardware. Once setup it's completely passive. Edit: ROI could be improved a bit on this too since I intentionally bought hardware that was good to experiment with rather than optimizing ROI.

Asic/FPGA's? Or just GPU/CPU? Which currencies? I was one of those that mined a few blocks of bc and spent it all before it was worth anything, and then thought that fpga's and asics took it out of my price range. Have considered trying my hand at it again.

GPUs mining scrypt. It's more profitable than using ASICs to mine Bitcoin.

Re: Your best passive income? (2014)

#412

Post by driverdan »

Jack000 wrote: post #330
driverdan wrote: post #231

I'm currently earning around $45-60 a day mining cryptocurrencies with a little over $5000 in hardware. Once setup it's completely passive. Edit: ROI could be improved a bit on this too since I intentionally bought hardware that was good to experiment with rather than optimizing ROI.

how long would that be sustainable for, given the periodic difficulty increase in the various cryptocurrencies?

As a followup to this, the scrypt coins I mine increased in profitability this week. I'm making over 1% ROI per day right now.

Increasing difficulty is less of an issue for altcoins. There are so many of them that difficulty may spike on one but that will cause it to drop on others, shifting which is more profitable. They tend to self correct better than Bitcoin.

Re: Your best passive income? (2014)

#413

Post by jenno »

I have a few things going on.

1. Income from ~5 non-fiction Kindle books for sale on Amazon. Around $100 a month, though at one point when I was more heavily marketing them it went up to $900-$1000. Would be great to spend more time on this and automate a system where I have a couple of assistants doing this for me around the clock (marketing and book creation).

2. Income from a single Youtube video which links to a simple blog (about solar power) with Adsense ads. I get about 50 cents to a dollar a day from this.

3. I used to work for a jewelry firm doing SEO, going into their office on weekdays. Had to quit later, so I asked if I could do the work from home and send a work log each week. They pay me $300 per week for simple social media and blog posts. I pay a girl in Pakistan (who has good English skills) $70 per week to do the work for me. She's very good and I'm thankful to have her. They have no clue.

Feel free to PM me if you'd like to speak about these things / wanna brainstorm.

Re: Your best passive income? (2014)

#414

Post by bizzle3 »

driverdan wrote: post #231

I'm currently earning around $45-60 a day mining cryptocurrencies with a little over $5000 in hardware. Once setup it's completely passive. Edit: ROI could be improved a bit on this too since I intentionally bought hardware that was good to experiment with rather than optimizing ROI.

You kind of seem to be avoiding specifying, but which ones, if you don't mind sharing?

Re: Your best passive income? (2014)

#415

Post by nick_urban »

etherael wrote: post #370
gknoy wrote: post #296

Earlier quoted context omitted.

Please forgive my ignorance, but how do alternative coins work? Who uses them? I've only recently noticed Bitcoins being relatively widely usable, so how does the process work with alternative mineable coins? Do you convert them to dollars at some point or just mine and trade them for good/services?

Altcoins are just another blockchain that uses the basic bitcoin idea of proof of work or stake to validate a distributed ledger, there are dozens to hundreds of them by now and they're all effectively just different distributed ledgers with some modified rules (total coins, rewards per block, demurrage, things of this nature) that are traded on cryptocurrency exchanges like cryptsy with bitcoin. Because they're liqu…

Wow, your post became very interesting to me in the last two paragraphs. Have you considered joining organizations that do make demands on you (and hence keep you connected to society), but not for financial reasons? Social clubs would work, but I would expect more meaning would be found in community service, religious organizations, artistic projects, etc.

Re: Your best passive income? (2014)

#417

Post by etherael »

nick_urban wrote: post #415
etherael wrote: post #370

Earlier quoted context omitted.

Altcoins are just another blockchain that uses the basic bitcoin idea of proof of work or stake to validate a distributed ledger, there are dozens to hundreds of them by now and they're all effectively just different distributed ledgers with some modified rules (total coins, rewards per block, demurrage, things of this nature) that are traded on cryptocurrency exchanges like cryptsy with bitcoin. Because they're liqu…

Wow, your post became very interesting to me in the last two paragraphs. Have you considered joining organizations that do make demands on you (and hence keep you connected to society), but not for financial reasons? Social clubs would work, but I would expect more meaning would be found in community service, religious organizations, artistic projects, etc.

The thing about human contact for me is that I can do with very little of it, that it takes this magnitude of isolation for me to even identify with the idea that people might actually want to socialise with other people is emblematic of that.

Every two or three months I attend a local meetup, or try to arrange contact with some of my old friends that travel frequently enough that our paths nearly overlap, that's basically enough for me I think. Perhaps that will change in the future but for now it's certainly the case.

Re: Your best passive income? (2014)

#419

Post by ericthegoodking »

ivanyv wrote: post #410

12 years ago I started a vertical social network for schools. We tried to hustle and visited schools one by one to sign them up. It crashed. Hard. Over time it evolved into a simple school directory, and after 3 years or so, it started making consistently about $300/month on AdSense. Revenue continued to rise (slowly), and now somedays it breaks $200/day. In the last 10 years I've spent like a week at most on the sit…

How do you bring traffic to your site?
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