Solar panels?

G

Gazed416

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Hi all,

Since yesterday I've been thinking about cryptoming but only using Solar Panels to solely focus on the cryptoming (and maybe my bedroom incase there's load shedding)

I have read a bit about people saying that clouds and night times will play its part with the Solar Panels, but I would like to start out small. I have seen YouTubers with so much equipment, but that's too much for me to start with.

The solar panels might be costly but it would have its benefits, even if cryptoming doesn't work out for me.

Secondly I have a Dell computer that is basically brand new that I don't use, and that I can upgrade its components.

My goal would be to mine any possible crypocurrency and I just wanted to find out if the above is possible for me to start out with.
 
Thor said:
Not worth it.in your situation
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Thank you for your honesty. It's just something that I've been thinking of. I have also read that you're able to "rent out your gpu" but not for crypto purposes. Do you know about it?
 
Gazed416 said:
Thank you for your honesty. It's just something that I've been thinking of. I have also read that you're able to "rent out your gpu" but not for crypto purposes. Do you know about it?
Click to expand...
I own crypto farms. It's not worth your time. Take your money and if you want to access crypto buy the top 10 coins and sit on it for 10 years. (Buy a DCX token)
 
Thor said:
I own crypto farms. It's not worth your time. Take your money and if you want to access crypto buy the top 10 coins and sit on it for 10 years. (Buy a DCX token)
Click to expand...

Why is "owning crypto farms" valuable for you and not OP?
 
Thor said:
Because my hardware is paid off and I have access to things he does not.
Click to expand...

Okay, I understand, but I also feel like you had to start somewhere and now you're saying that because you have paid off your hardware that it won't help anyone else who also wants to begin? I don't mean that in a rude way. I'm just trying to understand why I can't be in your position. Are you saying that it's more beneficial to buy 10 coins at market price than to mine for the next few years? It only seems illogical to me because my knowledge regarding it isn't broad, so I'd like to make a practical example:

You have a gold miner and a gold buyer. The gold miner spends years to find gold but the gold has become scarce throughout the years of gold found already. The gold miner manages to mine 5 ounces of gold in 6 months , only, whereas the gold buyer has "unlimited" ways to buy 5 ounces of gold in just a day. Does the gold miner start mining for something different (another crypocurrency instead of Bitcoin), or does he give up because nothing else is as valuable as gold (bitcoin)?

Because to me, crypocurrency and block chain is a huge part of our future. If today there is only 100 crypocurrencys, then in my mind there'll be a 100 more in the next 5 years. I hope that I'm making sense. I don't plan on buying a R100k equipment, even if I buy it and only make R50 a day on it for the next few years, then I will be "happy" as well. If crypto mining is really a dead-end street, then I'll give up on the idea, but even online people aren't really saying why it's a bad idea besides the electricity bill. That's why I've mentioned solar panels. If I start mining and I suddenly give up, then I would have solar panels for the next few years which is still beneficial to own
 
I'm not sure. Making a profit today isn't possible if you look at todays price. If you're in it for the long run then sure, there's money to be made.

Sure, you can also just go and buy crypto - but OP clearly wants to put his hardware to use so that's his decision to make.

Crypto mining is and still can be profitable. Why is it that Bitmain (shudders) is spinning up thousands of devices? Because electricity becomes cheaper in China some parts of the year - they're set to make a profit.

Can you pay your bond with mining crypto? Today, probably not. Tomorrow? Maybe. If the price triples? Sure.

@OP: Weigh up the options here. If you're looking to make an immediate profit then it's not worth it. Especially considering the capital you're potentially putting down with solar would involve a longer time to pay back. You need to do a thorough amount of digging around to find the best deal, how solar actually works, difficulty on various coins etc etc etc. Don't let a few people on a forum give you a yes or no answer, look at it objectively.

Everyone starts somewhere, even this Thor guy "owning so many farms" which are probably just a rig at a friends house and his Moms house because decentralisation bro. Whatever.

My 2c. If you're looking at renewable energy it'll probably be more valuable to hook up your house first and then consider mining. Would you rather have a mining rig going during load shedding or a TV?
 
IOPS said:
I'm not sure. Making a profit today isn't possible if you look at todays price. If you're in it for the long run then sure, there's money to be made.

Sure, you can also just go and buy crypto - but OP clearly wants to put his hardware to use so that's his decision to make.

Crypto mining is and still can be profitable. Why is it that Bitmain (shudders) is spinning up thousands of devices? Because electricity becomes cheaper in China some parts of the year - they're set to make a profit.

Can you pay your bond with mining crypto? Today, probably not. Tomorrow? Maybe. If the price triples? Sure.

@OP: Weigh up the options here. If you're looking to make an immediate profit then it's not worth it. Especially considering the capital you're potentially putting down with solar would involve a longer time to pay back. You need to do a thorough amount of digging around to find the best deal, how solar actually works, difficulty on various coins etc etc etc. Don't let a few people on a forum give you a yes or no answer, look at it objectively.

Everyone starts somewhere, even this Thor guy "owning so many farms" which are probably just a rig at a friends house and his Moms house because decentralisation bro. Whatever.

My 2c. If you're looking at renewable energy it'll probably be more valuable to hook up your house first and then consider mining. Would you rather have a mining rig going during load shedding or a TV?
Click to expand...

Lol, no chill from you but you're right. There's no quick way money making scheme and that's why I'm willing to mine for a few years to see if it'll pay off. The solar panels wouldn't be a waste of money because I wouldn't depend on the mining to repay the costs. What I would want it to repay is the actual mining gpu. Having a job, and two savings accounts at 24 feels very limited to me. The risks involved in shares and forex seems a bit too much for my liking, that's why I'm considering something else to generate some more income. I'm not dead-set on this mining thing but I also can't seem to find something else that really interests me. Run my own online business? To sell what, exactly? I feel like there's many opportunities but I just need a good source that keeps its users up-to-date
 
Daruk said:
First decide what you want to mine
Then check if mining what you want to mine is actually even profitable with zero electricity costs (bear in mind that your electricity costs are never going to be zero - you have capital expenditure to pay off for the electricity generation equipment) - use https://whattomine.com/
Then work out how long it would take to pay off the equipment including mining equipment at current conditions bearing in mind that conditions will change as time goes on.

A couple of questions for you:
1) What solar setup do you have in mind - have you even thought that piece out? What you're going to need are:

- Solar panels
- Inverter
- Deep cycle battery array

The above must be capable of running your rig 24x7 including night time and when the weather is bad and the panels can't supply 100% capacity.
This will be the biggest investment by far - the rig will be secondary.

What kind of rig do you want? 6 cards per motherboard? What cards?
Click to expand...
I'm starting to think that you're a solar panel miner too? I can't give you answers right now. After some negative feedback, including on Reddit, I've basically stopped doing my research but I will proceed with my research and answer your questions in a bit
 
Gazed416 said:
I'm starting to think that you're a solar panel miner too? I can't give you answers right now. After some negative feedback, including on Reddit, I've basically stopped doing my research but I will proceed with my research and answer your questions in a bit
Click to expand...
You
Are
Going
To
Waste
Your
Money

Myself and @Thor were heavily into mining. I've sold my last card on Tuesday this week...
 
Daruk said:
No, I considered it at one point when mining was at it's peak. I was making R8k per month after electricity. Profits dried up within 2-3 months.
Click to expand...

Have you stopped mining completely?
 
Honey Badger said:
You
Are
Going
To
Waste
Your
Money

Myself and @Thor were heavily into mining. I've sold my last card on Tuesday this week...
Click to expand...

Noted. So what are you going to do now? Find something else that you can work on? I'm not committed to anything yet, so maybe we could share ideas
 
Gazed416 said:
I'm starting to think that you're a solar panel miner too? I can't give you answers right now. After some negative feedback, including on Reddit, I've basically stopped doing my research but I will proceed with my research and answer your questions in a bit
Click to expand...
Well, one way would be to run the miner during the day to benefit from the solar energy. I would dedicate a circuit for this purpose, install a grid tie inverter on it (so you don't need to budget for batteries) and have a UPS automatically shut down the PC when the sun sets and there's insufficient solar energy to run it. Then set the BIOS to automatically boot up at 8am
 
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