[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 343 KB, 800x632, monero_mining_gold.png [View same] [iqdb] [saucenao] [google]
5136143 No.5136143 [Reply] [Original]

Hey /biz/, dirty nocoiner here. I'm new to all of this, but my dad just dropped $6000 on computers and shit to mine Monero. Is this guy retarded, or next level genius? From what I've seen, wouldn't it make more sense to just buy $6000 worth of Monero? Does anyone here mine, and if so have you had any success?

>> No.5136170

Unless he got vegas it's not worth it especially if you live somewhere like California where power is $0.175 / khw

>> No.5136223

What did you get?

Post some rig pics

or did you get 6 grand in grow lights and hydroponics supplies?

>> No.5136271

>>5136223
They live pretty far away so I have no idea. From what my brother tells me it's pretty good shit, and my dad's a big tech guy so I don't doubt it

>> No.5136454

>>5136223
>>5136271
Apparently it's 4 gtx 1060 GPUs with a new i7 cpu. Also we're in Canada and my dads a hippie so come July there will definitely be grow lights and hydroponic supplies

>> No.5136616
File: 40 KB, 720x701, birbicide.jpg [View same] [iqdb] [saucenao] [google]
5136616

>>5136454
>Using Nvidia to mine Monero.

>> No.5136639

>>5136616
It's not 2012 anymore grandpa, nVidia is better than AMD for most coins nowadays.

>> No.5136656

You should make the pot market up there be all monero all the time.

Then the mining will really pay off.

>> No.5136661

>>5136271
>my dad's a big tech guy
>hes not using Vega gpu to mine monero

>>5136639
For xmr in particular its better

>> No.5136803

Its better to invest that money, Monero is difficult to mine, you only get a tiny fraction of a coin, and new gpus are coming out in a few months, 1060 aren't really that good , the i7 return on investment is 300+ days, best to just buy $6,000 worth on Monero right now and let appreciate in value over the next year

>> No.5136850

>>5136454
OP here, more info:

This is for one setup and he has two setups going. Energy is around $0.09/kwh

>> No.5136916
File: 204 KB, 500x300, 1506731842540.png [View same] [iqdb] [saucenao] [google]
5136916

i'll give all you brainlets a little tip

if you mine monero instead of buying the shit on an exchange there is no record of sale

>> No.5136940

>>5136916
There's no record of sale on localmonero either.

>> No.5136991
File: 48 KB, 500x333, 1502650423276.jpg [View same] [iqdb] [saucenao] [google]
5136991

>>5136170
>mfw californians pay 3 times as much as me for electricity

>> No.5137365

Monero mines much better on AMD cards. Trust me, I've tried several cards of both

>> No.5137459

>>5136143
I see mining as a hedge against any given crypto
It's risk mitigation as you get a steady income of whatever you decide to mine, and you can sell the equipment at a pretty good rate if you decide to stop.

It's likely that the optimal gains are in speculation rather than mining, but a little passive income is nice.

>>5136454
He WAY overpaid, even for two of those systems. Why the fuck would he buy an i7 for a mining rig?

>> No.5137520

>>5136639
Yes, but not for XMR. The new Vega cards have a weird advantage due to their insane memory bandwidth and HBM2. A vega 56 can do 1.9k KH on 135w tweaked properly. Nothing even comes close.

>> No.5137701
File: 9 KB, 472x46, old laptop.jpg [View same] [iqdb] [saucenao] [google]
5137701

Is it possible to mine Monero without professional rig? I have this old gaming laptop that's unused, pic related with GTX970M inside. I also have free energy (renting room in shared apartment and the price includes all bills). Cold it actually work or will I just waste my time and run down the computer could otherwise sell on ebay?

>> No.5137778

>>5137701
Build a desktop if you have free electricity

>> No.5137779

>>5137701
Free energy? Go for it. You won't make much, but you won't be paying anything.

>> No.5137803

>>5137701
>>5137779
Just be careful of temperatures if you are looking to resell the computer. 75c is probably around the max temperature to run at 24/7 without significantly increasing your chances of fucking your gear up.

>> No.5137808

tell your dad to check whattomine, monero mining is suboptimal for his setup

>> No.5137813

>>5137701
Less than a dolar a day, and you're gonna damage your laptop

>> No.5137864

>>5137459
Remember too that this is canadian so the $6000 is really only around $4700 USD if that changes anything. As for the i7s I really couldnt say, he's pretty much just bandwagoning off the bitcoin hype and its looking like he didnt do enough research

>> No.5137886

>>5136916
Your IP address is still revealed with monero. OP's dad is gay.

>> No.5138101

>>5137864
Doesn't change anything. I recently built a rig with slightly higher cryptonight hashrate as your dad's. But for half the price (I am a leaf as well).

>> No.5138395
File: 179 KB, 326x434, 1513338211973.png [View same] [iqdb] [saucenao] [google]
5138395

>>5137459
>love building shit
>want to set up a cool mining rig for sweet passive income because I'm shit at trading
>everyone says its not worth

>> No.5139130

>>5138395
It's profitable. It's just not optimal. But it's less risky.

Just build one!