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Some questions about ethreum mining

HighRez
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Posted

Hey guys,

I was wondering, is there a downside//risk I'm missing to ethreum mining? Buying a 2k rig, making 4k profit in a year? Sounds to good to be true (I'm sure it can be done, but I imagine there is some drawback I'm missing).

Second, with the above in mind, what recommendations do you have for an ethreum mining rig around $1,000? (Power costs about $0.105 per kwh here.

 

Thanks c:

 

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tl;dr 

 

DONT MINE

Laptop: 2019 16" MacBook Pro i7, 512GB, 5300M 4GB, 16GB DDR4 | Phone: iPhone 13 Pro Max 128GB | Wearables: Apple Watch SE | Car: 2007 Ford Taurus SE | CPU: R7 5700X | Mobo: ASRock B450M Pro4 | RAM: 32GB 3200 | GPU: ASRock RX 5700 8GB | Case: Apple PowerMac G5 | OS: Win 11 | Storage: 1TB Crucial P3 NVME SSD, 1TB PNY CS900, & 4TB WD Blue HDD | PSU: Be Quiet! Pure Power 11 600W | Display: LG 27GL83A-B 1440p @ 144Hz, Dell S2719DGF 1440p @144Hz | Cooling: Wraith Prism | Keyboard: G610 Orion Cherry MX Brown | Mouse: G305 | Audio: Audio Technica ATH-M50X & Blue Snowball | Server: 2018 Core i3 Mac mini, 128GB SSD, Intel UHD 630, 16GB DDR4 | Storage: OWC Mercury Elite Pro Quad (6TB WD Blue HDD, 12TB Seagate Barracuda, 1TB Crucial SSD, 2TB Seagate Barracuda HDD)
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The risk of your system failing, before even breaking even.

The risk of ETH crashing before you cashed out (or broke even).

The risk of ETH changing the way they work, so you don't make any money.

 

And no, I don't have recommendations, because I don't know enough about the logistics and I know RX 580's are impossible to get now. 

"We're all in this together, might as well be friends" Tom, Toonami.

 

mini eLiXiVy: my open source 65% mechanical PCB, a build log, PCB anatomy and discussing open source licenses: https://linustechtips.com/topic/1366493-elixivy-a-65-mechanical-keyboard-build-log-pcb-anatomy-and-how-i-open-sourced-this-project/

 

mini_cardboard: a 4% keyboard build log and how keyboards work: https://linustechtips.com/topic/1328547-mini_cardboard-a-4-keyboard-build-log-and-how-keyboards-work/

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Power bill will cut into that. Unless you don't pay bills.

 

Right now is not a good time to start mining. The price dropped 

Smoking weed at the red light like its legal

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I'm sorry bro but you're too late to the game. Everyone starting to mine ETH just now is in for a serious gamble. Mostly due to the reasons @Minibois mentioned

Folding stats

Vigilo Confido

 

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