2 XL60 storinator's for Burst Mining

[ElusiveX]

I am buying 2 XL60 Storinator's. Filling both with 10TB drives. And going to mine BurstCoin with them. Is this a bad idea?

[NTDaws]

Any graphics cards?

[ElusiveX]

No, i wasent thinking of putting any in. Burst is mined with harddrives.

[Lurick]

You're looking at about $4000 to $4500 per month, excluding electricity costs. At $350 per drive x 120 drives you're looking at about 9 to 10 months to recover JUST the cost of the hard drives if BTC prices and Burst prices remain relatively the same over the course of the 10 months.

 

I would say it's a very long ROI time and not worth the risk.

 

 

Edit:

Looking at the storinator they say it's got a 480TB capacity, not sure if that's a limitation of the box itself or just based on the max drive size at the time but it's something you should ask about if you do go down this path and would skew the calculations downward.

[ElusiveX]

2 minutes ago, Lurick said:

You're looking at about $4000 to $4500 per month, excluding electricity costs. At $350 per drive x 120 drives you're looking at about 9 to 10 months to recover JUST the cost of the hard drives if BTC prices and Burst prices remain relatively the same over the course of the 10 months.

 

I would say it's a very long ROI time and not worth the risk.

The price rises though. 

[Lurick]

1 minute ago, DreadCoreTV said:

The price rises though. 

You're hoping the price rises and doesn't plunge.

If you're okay making a ~$50k investment then go for it.

[ElusiveX]

4 minutes ago, Lurick said:

You're hoping the price rises and doesn't plunge.

If you're okay making a ~$50k investment then go for it.

I am asking because IDK if one of there systems will fully handle mining it. Because I am paying for the petabyte of storage to mine and The price dived a while ago but is climbing.

[Lurick]

Just now, DreadCoreTV said:

I am asking because IDK if one of there systems will fully handle mining it. Because I am paying for the petabyte of storage to mine and The price dived a while ago but is climbing.

It's one of those unknowns, it could plunge or it could skyrocket, it's just how much risk do you want to put on the $50K and I'm assuming buying 120 drives you'll get some discount plus 2 of the storinators will be roughly 50k but it could be more or a bit less.

With how volatile it's been I personally wouldn't risk it, if it had a more stable 9 to 12 month timeframe you could better judge then I would say go for it but right now I just don't think it's a good idea.

 

Maybe do it slowly over the course of several months?

[ElusiveX]

2 minutes ago, Lurick said:

It's one of those unknowns, it could plunge or it could skyrocket, it's just how much risk do you want to put on the $50K and I'm assuming buying 120 drives you'll get some discount plus 2 of the storinators will be roughly 50k but it could be more or a bit less.

With how volatile it's been I personally wouldn't risk it, if it had a more stable 9 to 12 month timeframe you could better judge then I would say go for it but right now I just don't think it's a good idea.

 

Maybe do it slowly over the course of several months?

Me and my dad are both investing in it. We are gona buy the storinator's first, then slowly buy the drives. Probibly 20 at a time. Then I am the tech nerd.

[Lurick]

Just now, DreadCoreTV said:

Me and my dad are both investing in it. We are gona buy the storinator's first, then slowly buy the drives. Probibly 20 at a time. Then I am the tech nerd.

I would say that is not as much of a risk over a period of time so it could be worth it.

Worst comes to worst you could sell the drives and probably get out with minimal loss.

[ElusiveX]

1 minute ago, Lurick said:

I would say that is not as much of a risk over a period of time so it could be worth it.

Worst comes to worst you could sell the drives and probably get out with minimal loss.

yah, if the price drops hugely, we might sell the storage or setup a damily storage network.

[Lurick]

Just now, DreadCoreTV said:

yah, if the price drops hugely, we might sell the storage or setup a damily storage network.

Not a bad idea either

[ElusiveX]

3 hours ago, Lurick said:

Not a bad idea either

Welp, parts orderd. hehe

[KirbyTech]

2 hours ago, DreadCoreTV said:

Welp, parts orderd. hehe

Best of luck and hopefully you make some riches and share  

[ElusiveX]

8 minutes ago, KirbyTech said:

Best of luck and hopefully you make some riches and share  

Ill share with @Lurickand you @KirbyTech hehe! Its worth it. Thaks for the help!!

[aubryscully]

@DreadCoreTV Definitely post pics! Im interested in seeing how this turns out

[dalekphalm]

To be honest, while I'm sure this project will be fun, if you actually had $50,000 to invest, you'd probably make more money (with far less risk) by simply investing that $50K into a low/moderate risk investment.

[ElusiveX]

@aubryscully I sure will! The parts and storinators are on there way!

[cryptogainz]

Hey,

 

did you already receive and setup the Storinator? Would be interested in the reading time for the plots and if its worth it.

 

Cheers 

[Nicnac]

I didn't even know burst was still a thing^^

[Razor Blade]

Burstcoin value has been on the decline since it's peak mid January (when the OP made this thread)

[AshleyAshes]

36 minutes ago, Razor02097 said:

Burstcoin value has been on the decline since it's peak mid January (when the OP made this thread)

Yeah there were a few weeks there where people we're coming in here with Burst coin ideas and just as quickly all new topics on it stopped.

[Gofspar]

>minecraft avatar

>flex on imgur about having 2k

>defending jake paul on twitter

 

Don't think the storinators are actually ever coming boys.

[dalekphalm]

13 minutes ago, Gofspar said:

>minecraft avatar

>flex on imgur about having 2k

>defending jake paul on twitter

 

Don't think the storinators are actually ever coming boys.

I mean - even if he did buy them, the risk factor is actually retarded. You'd be spending something like $50K or more. To actually just invest that in an insured and regulated investment would make you guaranteed money with fairly low risk.

[Razor Blade]

Well seems like there was enough interest to justify a video.

 

 

I know they've been working on it for a few months. Funny enough that rig they built would barely cover the electricity bill where I'm at...let alone any sort of ROI.