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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 08-24-2017
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Default Crypto Mining Rig

Looking for a loan to start my own Crypto mining company..hehe


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  #2  
Old 08-24-2017
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Default Re: Crypto Mining Rig

I'm interested to see how profitable it would be if you plug in your actual cost of electricity. I stopped mining when my power bill shot up by $200 lol.

On a side note - I thought the max PP payment size was $10k. How's that work with a $73k listing?
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  #3  
Old 08-24-2017
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Default Re: Crypto Mining Rig

I guess you are wrong...
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Old 08-24-2017
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Default Re: Crypto Mining Rig

Wow empirestate...bank loan? Crowdfund? hah
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Old 08-24-2017
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Default Re: Crypto Mining Rig

whats the net per month on that rig after costs and using history of difficulty changes and the estimated price of eth increase per month, you know the basics. in most instances you are better off in most places just buying coins at leverage and holding them for a better ROI
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Old 08-24-2017
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Default Re: Crypto Mining Rig

so you buy a rig today for 1000 bucks it mines usually about a 12th of your investment so in theory you will break even in 12 months at current price
so say eth is 100 dollars now you buy this and in 12 months you you have 10 eth and its worth 300 now you now have 3000
now say you just buy 10 ETH now for 100 and in 12 months you have 10 eth its worth 300 and now you have 3000

so basically you are mining for free is that true or false?

unless you live in some super cheap or free place to mine
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Default Re: Crypto Mining Rig

Seems interesting. Please share your experience with us ;d
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Old 08-24-2017
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Default Re: Crypto Mining Rig

Quote:
Originally Posted by empirestate View Post
I guess you are wrong...
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  #9  
Old 08-24-2017
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Default Re: Crypto Mining Rig

"Also your profit predictions will be inaccurate until you plug in your cost of electricity. Maybe you can ask mom about the KW/h rate?"

LMAO that is a good one!
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Default Re: Crypto Mining Rig

for empire mining is great until Dad sees the bill and is like "WTF, EMPIRE get down here now!!!"
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Old 08-24-2017
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Default Re: Crypto Mining Rig

The blank space is left out because obviously it varies for people... GENIUSES...
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Default Re: Crypto Mining Rig

tell your dad that, "Empire go to your room and unplug those machines and take that poster down!"
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Old 08-24-2017
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Default Re: Crypto Mining Rig

Just to clear the air:

It does not vary. In 2013 they changed the MAXIMUM single payment to 10K If you have ebay fees in the tens or hundreds of thousands and want to pay with paypal, you have to make it is several 10k payments and a max of three a day.

It only fluctuates based on currency, but still caps at 10K USD after exchange rates and fees are applied.

I am 100% sure that seller would not accept paypal same as virtually all auto sellers wont or cant.
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Default Re: Crypto Mining Rig

Quote:
Originally Posted by yankee View Post
Just to clear the air:

It does not vary. In 2013 they changed the MAXIMUM single payment to 10K If you have ebay fees in the tens or hundreds of thousands and want to pay with paypal, you have to make it is several 10k payments and a max of three a day.

It only fluctuates based on currency, but still caps at 10K USD after exchange rates and fees are applied.

I am 100% sure that seller would not accept paypal same as virtually all auto sellers wont or cant.
I'm referring to the rate of electricity...
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Default Re: Crypto Mining Rig

what up Yankee, long time no hear!
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Old 08-24-2017
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Default Re: Crypto Mining Rig

Quote:
Originally Posted by danshan View Post
so you buy a rig today for 1000 bucks it mines usually about a 12th of your investment so in theory you will break even in 12 months at current price
so say eth is 100 dollars now you buy this and in 12 months you you have 10 eth and its worth 300 now you now have 3000
now say you just buy 10 ETH now for 100 and in 12 months you have 10 eth its worth 300 and now you have 3000

so basically you are mining for free is that true or false?

unless you live in some super cheap or free place to mine
You answered your question yourself - you mine for free for 12 months until you break even and after that you start to earn
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Default Re: Crypto Mining Rig

you dont earn after 12 months the miner is garbage with difficulty change, the miner is now a paper weight
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Default Re: Crypto Mining Rig

and dont forget about hardware failures
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Default Re: Crypto Mining Rig

I'm looking for a small rig that can make me some extra pocket money, I have access to 'free' electricity (I don't want to abuse this massively) so I am wondering if anybody has any suggestions (budget around 1000). I was thinking of buying a couple high end GPUs but maybe there are better options out there.
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  #20  
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Default Re: Crypto Mining Rig

AndreasP message me, I want access to free electricity hehe
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  #21  
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Default Re: Crypto Mining Rig

i think the gpus are a good idea most used rigs are paperweights with working lights equipment burns out quick
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  #22  
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Default Re: Crypto Mining Rig

I'm at 1.4gh/s and make about $100.82 but my rigs are already paid for.
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