Member

[Red Squirrel]

If you got free power go for it ... If I had free power I would be sucking that "free" power dry.

Yeah don't have free power, in fact it's super expensive here. But I might try it just to see how viable it is anyway. At least with video cards and regular computer hardware, I can repurpose it for something else if it ends in failure. The heat generated is going to slightly offset my natural gas usage, though natural gas heat is way cheaper than electric, so I won't exactly "save" on heating.

What I keep thinking would be awesome is to buy a property in an area that has low taxes and build a solar farm then mine off that free power. There is such property an hour from where I live, which has been for sale for a while so I could probably offer lower than what they ask and get it. It has a 300' tower so I think I could reach my house from it with a UBNT Airfiber or something. The property would be more or less off grid so the Idea is to have no reoccurring costs to run that property, then any money I make is profit. There would be taxes but think it's only a few hundred per year.

Kinda a pipe dream though, before I go ahead and sink close to 100k on property and associated buildings/equipment I'm going to start with a small rig. Going big would be more risky as the ROI is longer and this could all crash any time, but if I made it then it would be pretty awesome as there would be hardly any cost to operating once everything is paid off. Probably too late to go large scale though, but hey I can dream!

 

[Deleted member 314246]

Member

 

[Red Squirrel]

Which altcoins do you have in mind? And well, let us know how successful your mining plan is!

Probably going to do etherium, but vericoin sounds interesting too since you only need CPUs. So could build a kick ass dual or quad cpu box and even if the currency does not work out I still have a kick ass server to run VMs on.

Hahaha, I think you need spcial wiring and a premium electricity plan for that.

Oh definitly. Probably looking at custom PSUs at that point since it would require too many computer PSUs. Remember a 1000w PSU is not actually going to deliver 1000w at the 12v rail. What I'd probably end up doing is building my own 12v PSU using buck converter topology and IGBT bricks or something. Would need to individually fuse the feeds too. Maybe 2 cards per feed. It would be enough power to weld metal. Need to learn way more about SMPS design before I attempt something like that though. What I'd probably do is stick to like 2 cards, then grow from there.

That sounds like a nice place to live even if it crashes, haha. Unless it's unpleasant to be there, but I like places in the nature myself.

Yeah been eyeing that property for a while, it's pretty much in middle of nowhere in a small city of like under 100 people. I don't imagine there's that many bylaws or any BS, and taxes are super low. It's still a crazy investment to buy a piece of land though, but then again people drive off dealerships with brand new fully loaded cars all the time and this land is not that much more expensive than a new car. Not sure I'd want to live there, as it's not lake front and not really exactly in the bush, but I have not actually went to look at it yet, just saw pictures. I have a plan that might be a conflict of interest with my work, I need to talk to them about it. If that plan turns out not to be a conflict of interest then I'll buy it. It's 8 acres of mostly field, so tons of potential for all sorts of things. crypto mining would be a small part of it.

 

[Deleted member 314246]

Member

 

[Red Squirrel]

When I was researching it, Ethereum didn't seem very profitable to mine. What makes you see it otherwise?

And what would you use the VMs for after?

I think there's probably an easier solution, I'm sure somebody is using those boards at their max potential. It's dangerous enough working with much lesser numbers, and here we're talking about something that would just blow the fuses in most homes. Even in most offices far as I know, hahaha.

That does sound like a nice piece for someone like you. You sound like someone with a lot of projects going on and a lot of ideas. Good luck with that!

From what I've read quickly you can make several hundred per month right now with a decent size rig. The ROI ends up being long enough though like 6 months, maybe even a year for a really big rig. The bigger the rig the longer the ROI but then the more money you make... assuming it's still viable by the time you paid off the equipment. So there is definitly quite a huge risk involved. That's why I'm still kind of debating how far I want to go. Might be better off sinking whatever money I use to build a rig into buying coins directly and playing the market that way. But I kinda want to do it because it would be a fun project too.

 

[eng2d2]

My cousin who is Harvard grad economist did not do anything with his degree but he is heavily into bitcoin mining. Talk about luck. Don’t know how much he is worth. I wish I had more time to ask him about Bitcoin when I saw him last summer