Some tips on cryptomining

[ViciousClone]

Hi all,

So thinking of mining,i'd want to take a small loan to get the 4 gpu mining rig going ,electricity will be free so no worries there.Bank pre approved me for a small amount over 2 years as well.

So my question,what would i see in return roughly with 4 x470/570 AMD cards running non stop ?

 

[Ancalagon]

I would not borrow money to do this.

The amount of interest you pay will make it very difficult to break even.

Those unsecured loans are horrendously expensive!

 

[ViciousClone]

worked out to R900 pm

 

[UrBaN963]

Electricity is never free. By this, do you mean mom and dad are paying? Have you cleared this with whomever is paying for the juice?

Might be worthwhile if you plough any profits straight into the loan to pay off the capital ASAP, otherwise interest will eat your profits.

 

[Gtx Gaming]

Around R200 a day for 4 cards.

 

[srothman]

What I'm doing is sweating my poor little 1050 ti until my potential return justifies another card, at which point I will add a second, third, etc. etc.

Whilst the possibilities of making some money isn't far-fetched, you're still taking a gamble on this being sustainable. Last thing you want is to go and loan money and not be able to make money for whatever reason.

Yes, this process is muuuuuuuch slower than it needs to be, at least I wouldn't have to pay off any sort of loan if things go belly up, or it's doesn't prove as "all that" as I thought.

**Disclaimer** I am a very cautious and anti-debt person, so take what I say for what it is**

 

[marco79]

Around R200 a day for 4 cards.

Would I get that with 4 x 1060 GPUs?

I have been given crypto mining lots of thought the last few weeks. Instead of getting a 6 gpu rig going full blast, I might get a 3 or 4 gpu rig and invest R10k into ETH & BTC each.

 

[Mariuspay]

I get about R2800 P/m return on 1 X 1080Ti after electricity subtracted. I doing about 720 Sols/s Zcash

 

[Gtx Gaming]

Would I get that with 4 x 1060 GPUs?

I have been given crypto mining lots of thought the last few weeks. Instead of getting a 6 gpu rig going full blast, I might get a 3 or 4 gpu rig and invest R10k into ETH & BTC each.

Should be around R170 per day mark.

 

[ViciousClone]

Electricity is never free. By this, do you mean mom and dad are paying? Have you cleared this with whomever is paying for the juice?

Might be worthwhile if you plough any profits straight into the loan to pay off the capital ASAP, otherwise interest will eat your profits.

i don't believe moving back to "mommy and daddy" is a option after 10 years.

Yes i have clarified as it's all solar panel

 

[ViciousClone]

Around R200 a day for 4 cards.

profit or electricity bill

 

[ViciousClone]

What I'm doing is sweating my poor little 1050 ti until my potential return justifies another card, at which point I will add a second, third, etc. etc.

Whilst the possibilities of making some money isn't far-fetched, you're still taking a gamble on this being sustainable. Last thing you want is to go and loan money and not be able to make money for whatever reason.

Yes, this process is muuuuuuuch slower than it needs to be, at least I wouldn't have to pay off any sort of loan if things go belly up, or it's doesn't prove as "all that" as I thought.

**Disclaimer** I am a very cautious and anti-debt person, so take what I say for what it is**

understandable

 

[ViciousClone]

Would 3 480's do better than 4x470's

 

[CAPS LOCK]

Let's be realistic - firstly, where are you going to source the 470/570 from?

 

[srothman]

I think the 470s user less power. Good luck finding any though.

 

[UrBaN963]

i don't believe moving back to "mommy and daddy" is a option after 10 years.

Yes i have clarified as it's all solar panel

Didn't mean it condescendingly, sorry if it can across that way.

Solar ftw, your ROI should be better then.

 

[ViciousClone]

Let's be realistic - firstly, where are you going to source the 470/570 from?

true ....waiting on the 580's

 

[ViciousClone]

Didn't mean it condescendingly, sorry if it can across that way.

Solar ftw, your ROI should be better then.

That's why i'm asking ,cause i can't see how i cant make money this way..

 

[UrBaN963]

Assuming prices increase and the difficulty doesn't increase to the point where profits are mitigated by lost value in cards, power etc, you should make money.

 

[Gtx Gaming]

Would 3 480's do better than 4x470's

My 480's and 470s mine at around the same speed