How to still profit from mining: A short guide

[TechHalp]

Right now xmonero on some cpu's is just about the only thing that turns a profit, but how do you turn a 'profit' with gpu's that a left over?

It's simple, if you are even close to breaking even, you are heating your space for free.

Algo: Nicehash Cuckoocycle
Coin: RVN
Cost including payout: ~1.40/day w/electricity

2nd coin: Xmonero
Profit: ~$0.65/day

Total mining profit with electricity: -$0.65
Cost to heat house without mining: $3/day average
Profit: $2.35/day or $857.75 this year

Setup:

2x 5800x
8x RTX 3060 Ti

Run power cable to hot water tank space or basement, mine is in the same room as the hot water tank with the door left open to the basement. Hot air moves upwards to heat up the rest of the house, while keeping the hot water tank area hot and reducing the amount of electricity it takes to heat the water. It's -8C right now but I have not had to turn on the heat for over 2 years.

Now this isn't going to work if you don't live in a cold climate, and it's obviously not worth buying GPU's right now, but if you are doing nothing with these free space heaters, you might as well pay off 2 per year. I used a very conservative estimate for this (electricity at 9 cents/KWH) but my electricity cost is actually less than 6 cents.

Everyone focuses on profits but the math is simple, money in money out. Free heating or cheap heating is still a profit, or you can use a space heater and let your gpu's depreciate while they collect dust.

 

[phanbuey]

The real way to turn a profit is to start a coin, pump it on every platform to get a bunch of suckers investors to buy it, then rugpull sell said coin.

 

[eidairaman1]

The real way to turn a profit is to start a coin, pump it on every platform to get a bunch of suckers investors to buy it, then rugpull sell said coin.

Just like FTX going to prison.

Miners can get lost.

 

[GerKNG]

i think there is a small problem with your math here.

"Profit: $2.35/day or $857.75 this year"
you need to buy hardware for around 4500-5000€ (Motherboard, CPUs, riser, PSUs, RAM, SSD for OS, and EIGHT 3060 Tis)
so you need to mine for almost SIX YEARS to have your investment back and sit at Zero dollars.
and i bet these shitcoins don't hold any value for longer than 3-4 months (or until the rugpull starts)

 

[GerKNG]

 

[dorsetknob]

AND YOUR TO VERBALLY HOSTILE to be posting here

 

[phill]

Do I need to lock a thread that's been open for not even an hour??

Can we play nice or shall I just close it??

 

[maxx2575]

1. Payout is in BTC on Nicehash, and if you're not the complete idiot that you seem to be, you can sell your coin once a week like I have been since I got bought these GPU's.

2. "it's obviously not worth buying GPU's right now, but if you are doing nothing with these free space heaters, you might as well pay off 2 per year."

This setup made $14,600 in 2021, so your desperate bitterness is meaningless to me. The problem with your math is that you are too fucking illiterate to read a post before judging it. All of you coming to the mining forum to complain about mining can take a long walk off a short rooftop .

I'm not your therapist, or SBF, or logan paul stealing your dumbass investment, or the uncle that creeps into your bedroom and makes you such bitter little haters. Don't take it out on me because you saw some stuff in the news you were too emotionally fragile to handle. If you got scammed in a high risk market that's not my problem.

I did not suggest you go buy this setup, but if you have it you may as well use it.

Heating your house and hot water is not a waste of electricity, so guess where you can shove your criticism? Go on, take a guess.

yeah your right to a small degree, but this needs way more set up than is even worth it. you might as well use that time to work on other thing that get you more money, like mowing lawns.

 

[TechHalp]

AND YOUR TO VERBALLY HOSTILE to be posting here

You get what you give m8, I will always respond in the same way I am treated.

You misread what I said, then act like you still don't understand. What needs clarifying here?

yeah your right to a small degree, but this needs way more set up than is even worth it. you might as well use that time to work on other thing that get you more money, like mowing lawns.

For sure man, don't bother if it isn't just lying around. But I suspect that is the case for a lot of people. Personally, going out 8 times to sell separate GPU's does not work for me effort or schedule wise. Will run them till they die, maybe make another 4k out of it.

 

[GerKNG]

i don't think we need aggressive trolls that come to TPU, create an account only to shitpost and insult everyone who does not praise your "godsent advice".
blocked and reported.

 

[eidairaman1]

Do I need to lock a thread that's been open for not even an hour??

Can we play nice or shall I just close it??

I vote for closing it

 

[TechHalp]

Go ahead, close it. Listen to the person who hasn't contributed a single thing to this thread.

 

[maxx2575]

man this whole thread is a train wreck

 

[phill]

Lets close this before something breaks out.....