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28142418 No.28142418 [Reply] [Original]

Thinking about buying a ASIC to mine bitcoin long-term

Any tips ?

I have a 5000 budget

>> No.28142495
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28142495

>>28142418
Whattomine.com

>> No.28142603

>>28142418
https://canaan.io/product/a1246

This is a good miner for your budget. I really want to take profits and start an offgrid mining farm too.

>> No.28143095

>>28142418
Can you mine AVAX?

>> No.28143538

>>28142418
Too late for this cycle. Wait for mining equipment to crash along with BTC and buy it up cheap.

>> No.28143724

>>28143538
I want to accumulate anyway

>> No.28143744

about 5 years to late mate

>> No.28144061

>>28142495
Thanks. What happens with those miner machines in time? Now one cost 20k euro, it pays for itself in 100 days. Will it become comparatively weak in 3 years or so? Or does those devices hold up? This is not question about coin price, this is more like "Will GTX 5800 TI" in few years be more powerfull then 20k euro miner now?

>> No.28144138

>>28143724
You clearly don't know what you are doing. Any ASICs or GPUs are currently 5-10x their normal MSRP. Buying now is a death sentence. Besides the market is moving too fast. What are you going to do, buy a $10k ASIC, wait one month for it to be shipped to you, and mine 0.001BTC before we crash in six months or so? Then your $10k ASIC will be worth $1k. You're better off just buying crypto at this point.

>> No.28144367

>>28144138
Thanks anon. Can you educate me too please? >>28144061

>> No.28144472
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28144472

>>28142418
please don't buy now anon, you'll just be fucked.
There's a reason only the big brains with super cheap energy buy ASICs.
They buy when they're cheap, mine, and then sell to gullible retards after 6-12 months during the cyclical crypto rush.

If you have any GPU's from the last few years, mine on those, PLEASE, I don't want a bro getting fucked by the gold rush.
If you really want to blow your load, do it, but I'd advise GPU's over ASICs.
Put stock alerts up and buy as close to MSRP as you can

>> No.28144576

>>28144367
Mining was only good years ago. You will make more money buying crypto now

>> No.28144606

>>28144472
Thanks bro,
I do have a RX580
Can generate 3$ a day with this

>> No.28144894

>>28144367
Buy low, sell high. The last good time to buy miners was October 2020. Since then everything has been sold out. In a few months I will be unloading all my GPUs for 10x what I paid for them. All the crypto I mined will just be icing on the cake. And when the market has crashed I'll buy all those GPUs back for $100 each and start mining again. Unfortunately now you just have to be patient and learn more about the market cycle.

>> No.28144910

>>28144606
Your prob spending more in power alone then what your making....

>> No.28145087

>>28144910
Energy deducted

>> No.28145100

>>28144606
Nice, so when ETH is say $5k, sell your RX 580 for $800 or so. Then when the market has tanked, check for used RX 580s and buy five of them for $100 each.

>> No.28145184
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28145184

Too late to mine

Too late to buy

What I'm supposed to do

>> No.28145281

>>28145100
Someone is really going to pay 8 rolls for a 2 years old graphic card ?

>> No.28145468

>>28145281
Lol, they are currently selling for $400 used on eBay right now. Just wait until ETH doubles.

>> No.28145533

>>28145184
You can move to the Ukraine and mine there. I heard that shithole has one of the lowest electricity rates.

>> No.28145586

>>28144894
Thanks, anon. I should research it more.
>I will be unloading all my GPUs for 10x what I paid for them
Are you mean literall 10x? I mean GPUs now probably above MSRP, didn't really follow, but x10 for used ones? I don't know much about market, but even x2 for used ones seems like alot alot.

>> No.28145778

I have a 1660ti mining. Is it worth it to add a 1050 that I have laying around to my rig or will it cost me more electricity than it makes?

>> No.28146293

>>28145586
Check prices on Amazon and eBay and tell me they haven't already begun this move. Like I said, if you really believe in ETH, then $5k is possible in the next few months. People will be buying these for insane prices as long as the ROI is 30-60 days. That's when it's time to dump.

>> No.28146586
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28146586

>>28144606
Nice, do that, unless your electricity is outrageous you'll be making a good bit of side cash.
If you want to get into it more look up good OC/undervolting settings for the 580 and get that efficiency up there.
Then when the market calms down and the hype slows, then maybe look into building a gpu rig.
Use this time to learn about mining, what's the best route, is it worth it for you?
Best of luck dude

>> No.28146753

>>28142418
unless u have free energy. your most likely to be better off just buying sats instead.

>> No.28146815

I really want to set up some shit at my job in a corner no one checks and steal their electricity. Literally no one would find out. Would it be worth it then?

>> No.28146905
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28146905

>>28145184

>> No.28147646

>>28146815
People go to jail over shit like that. But by all means, if you do it in a way that nobody notices and asks questions, do it. Miners are loud, and if you want to actually make money you need a good one. You are not equipped for something like that anon. Stick to being a wagie and buy your corns

>> No.28147714

>>28143538
Does this mean I will be able to buy a 3060 this month?

>> No.28147737
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28147737

>>28146586
Thank you fren
>>28146905
Pic related

>> No.28148412

>>28146815
if you are going to do this, add it to a maintenance area, disguise and label it as something else, be clever

>> No.28148576

>>28142418
It really is too late. Unless you've got access to cheap energy and even then it's not even worth it unless you want to drop like 500k on hardware.

>> No.28149259
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28149259

damn my old piece of shit gtx 1070 cranks out 24.5 Mh/s. is this really worth $80/month even after $0.12/kwh electricity costs?

>> No.28149329

just buy a miner stock like MARA and RIOT, they have scale and cheap power, 2 things you will never have, also they went up 40% today

>> No.28149604

How about XMR? Isn't it designed to be more amenable for CPU/GPU miners?