Could you live on $40 USD / day? (mining-related)

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Ajay

Lifer
Jan 8, 2001
11,576
5,264
136
I couldn't. If I had been smart, I could've made some good money by now. I thought burning up my GPUs for science (F@H) was the honorable thing to do. Obviously, I didn't major in Business at university.
 

Stiff Clamp

Senior member
Feb 3, 2021
480
140
76
If you're single, have a very reliable car that is paid off, no debt, and rent for $400-500. I think you could live off $1240/mo ($40x31).
Any significant car expense would wipe you out for a while.
And you would rarely travel, unless staying with relatives.
If you have debts, you'd want to live with a relative, some subsidized housing, or . . . a tent.
 

Torn Mind

Diamond Member
Nov 25, 2012
8,959
1,654
126
Lifeline phones, bro.

Utilize utility assistance.

Local food bank, and milk the churches.

Only buy food on sale.

Go find some 1000+ sq ft, 2+acre home with property taxes < $800, and buy a Prius.
 

Muse

Lifer
Jul 11, 2001
33,883
5,596
126
If you're single, have a very reliable car that is paid off, no debt, and rent for $400-500. I think you could live off $1240/mo ($40x31).
Any significant car expense would wipe you out for a while.
And you would rarely travel, unless staying with relatives.
If you have debts, you'd want to live with a relative, some subsidized housing, or . . . a tent.
I really did this for a long time, all of it... and my rent was 1/2 of that! Plus I had no car. I bought used bicycles and did ALL of the maintenance. I could and probably should write the book on how to do this... believe me, I know how to stretch a dollar with the best of them. $40/day is $14,600/year. I would have felt like a rich man with that kind of money in those days. Inflation has to be factored in, though. Still, no problemo. Speaking of which, I made my own tortillas, my own bread, ate a lot of rice and beans (from bags of rice and beans), made my own jams and sauces from home grown tomatoes and fruit...
 
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AdamK47

Lifer
Oct 9, 1999
14,102
1,403
126
Could someone please explain this mining thing to me? It's what? Some way of producing money, a sort of digital alchemy? WTH is it?

Edit:

Yeah, what is this anyway? My crypto IQ is teeny.
Mining is when someone converts massive amounts of electricity into fantasy money. Currency most people don't actually use to buy anything with directly. Instead it's another speculative investment vehicle using existing government backed currencies. Its value is derived from social media influencer endorsements.
 
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Torn Mind

Diamond Member
Nov 25, 2012
8,959
1,654
126
Mining is when someone converts massive amounts of electricity into fantasy money. Currency most people don't actually use to buy anything with directly. Instead it's another speculative investment vehicle using existing government backed currencies. Its value is derived from social media influencer endorsements.
All money is fantasy money. It's just cotton paper vs bytes.

Although, why mine when one can just buy.
 

ponyo

Lifer
Feb 14, 2002
19,687
2,794
126
Mining is when someone converts massive amounts of electricity into fantasy money. Currency most people don't actually use to buy anything with directly. Instead it's another speculative investment vehicle using existing government backed currencies. Its value is derived from social media influencer endorsements.
I thought your dislike of crypto was because miners contributed to video card shortages and made it tougher for you to buy your favorite cards. But now I know your beef is more rooted in jealousy and envy.

All money is fantasy. The more money you have, the more you'll realize this.
 

AdamK47

Lifer
Oct 9, 1999
14,102
1,403
126
I thought your dislike of crypto was because miners contributed to video card shortages and made it tougher for you to buy your favorite cards. But now I know your beef is more rooted in jealousy and envy.

All money is fantasy. The more money you have, the more you'll realize this.
A failed speculation. False theory or conjecture without firm evidence about me.
 
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Mai72

Lifer
Sep 12, 2012
11,059
1,413
126
Cheez is living on $.20 a day in the woods. $40 a day is totally doable.

$40x30 days= $1,200 a month. If that seems tight, you could bring up the total to $1500 a month. Or, maybe even $2k a month to give you some leg room. That IMO is totally doable. And, it's only $24k a year. This is exactly how Mr. MOney Mustache retred by 30. He had a $2k a month budget and banked the rest as an engineer.
 

ponyo

Lifer
Feb 14, 2002
19,687
2,794
126
Cheez is living on $.20 a day in the woods. $40 a day is totally doable.

$40x30 days= $1,200 a month. If that seems tight, you could bring up the total to $1500 a month. Or, maybe even $2k a month to give you some leg room. That IMO is totally doable. And, it's only $24k a year. This is exactly how Mr. MOney Mustache retred by 30. He had a $2k a month budget and banked the rest as an engineer.
I only partially watched couple of Cheez videos but it seems he's always buying some expensive shit on Amazon. Never seen homeless person who buys so much stuff on Amazon. How the hell does Amazon deliver stuff to homeless person? Does he ship it to his parents house and he picks it up there? Regardless, Cheez is definitely spending lot of money for supposed homeless person. And he's getting lot of assistance from his parents, other people, and taxpayers.
 

Red Squirrel

No Lifer
May 24, 2003
63,234
10,011
126
twitter.com
He's probably spending more than that on gas too, I think he uses a generator for power. With all the money he's spent on scooters and bikes he could have just setup a small solar system and be less dependent on money and have free power. I'm surprised he has not been kicked out of there though, since it's not land he owns. Living off grid is my dream but I still want to be on land I actually own. I'd build something more luxurious than just a shed though. :p
 

Torn Mind

Diamond Member
Nov 25, 2012
8,959
1,654
126
He's probably spending more than that on gas too, I think he uses a generator for power. With all the money he's spent on scooters and bikes he could have just setup a small solar system and be less dependent on money and have free power. I'm surprised he has not been kicked out of there though, since it's not land he owns. Living off grid is my dream but I still want to be on land I actually own. I'd build something more luxurious than just a shed though. :p
Does it really matter? You'll only "own" it as long as you live. Your spawn, if you generate any, may or may not elect to stay or keep the land once your life has past.
 

ponyo

Lifer
Feb 14, 2002
19,687
2,794
126
A failed speculation. False theory or conjecture without firm evidence about me.
So why do you care if bitcoin price goes up or down? You have no personal stake. Only an asshole wishes others to lose money and take pleasure in their suffering when you don't have a stake. It's bad karma.
 

AdamK47

Lifer
Oct 9, 1999
14,102
1,403
126
So why do you care if bitcoin price goes up or down? You have no personal stake. Only an asshole wishes others to lose money and take pleasure in their suffering when you don't have a stake. It's bad karma.
My stake is lower video card prices and increased availability. Your original speculation.
 

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