hey all
total noob here, really not sure about anything and I know this question’s probably been asked a ton, but if any of you math wizards could help me out, I'd really appreciate it.
I’m super into bitcoin and ethereum, and my big goal is to snag 1 BTC or the ETH equivalent in a year.
The main concern is the energy costs. I live at home, and my parents are loaded and cool with me cranking up the energy use (well, they might change their minds when they see the bills, but for now, they're supporting my plan).
Which coin should I go for mining?
Noise won’t be a problem since we've got a garage.
Is it hard to set up? What software do you recommend?
And the big question... how much cash do I need to get a rig that can net me 1 BTC in 12 months? What equipment should I look into, considering energy costs aren’t a huge issue for me?
thanks in advance, guys!
newbie here aiming for 1 bitcoin in a year
7 replies 91 views
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#2Apr 29, 2021, 09:32 AM
you can't mine eth.
and btc is loud gear.
do you have 240 volt power?
if you do and your energy cost is zero.
buying some s19's means 2000 a unit. total 4k
So say 2 of them cost you 4k they will earn 95+95=190
190 x .06 = $11.40 a day or 365 x 11.40 = 4161. so not counting power you will be $161 ahead.
frankly offer to do a chore for your parents and use the cash they pay you to buy some pieces of a coin.
so i think your saying at 2k per machine, with my dad paying the electricity costs, the noisy employees will roughly pay for themselves in 12 months?
converted into BTC, which is really what i want as i dont want the cash i really want 1 BTC and i dont want to sell it.
just thinking out loud here.......but im not sure.......at 4161 for 2 machines which basically break even without electricity costs.......at 17k for 1 BTC..........i would need approx 10 x s19s?
Wow thats a bit of a shock!!!!!! it sounds like a terrible idea. 10 machines cost 20k,get me 1 bitcoin in a year and kicked me out of my house probably
i dont really understand the power side of things yet. we just live in a normal uk house built in the 60s. will the garage support running 10x of these machines without blowing up the house lol. Noise isnt too much of an issue as we have a single detached garage at the rear of the house. but having said that how exactly noisy would 10 machines be?
This has got me thinking, i dont have the money to buy 1 BTC and my folks wouldnt give me the money to buy one. But they would possibly lend me 17k if it was to start up a mining business from home
[moderator's note: consecutive posts merged]
Each unit should be pulling around 12-13 Amps. Here in the US, older houses often have 100a service, newer one have 200a.
IF you're lucky enough to have 200a service, I highly doubt you have much more than a 20a/120v line to the garage. So you'd need to come off the main panel with a 100a subpanel, and maybe you can run five 20a/240v circuits from that. I doubt you'd want to run more than five machines based on that.
As far as noise, five machines are loud. I was running 5 s17s in my garage, now just 3 s19s. If I'm standing next to them, I can't hear a word you say from a feet feet away. Each unit is like an industrial hair dryer running not stop. You also have hot exhaust to get rid of.
Youre probably looking at a few thousand $ worth of electrical work to set up for the machines. Then the machines themselves, and factor in your price per kWh...... at this point, you'd be better off to just buy an entire coin.
My electric costs have doubled in the last two years, absolutely killing my profitability. And if you think you'll run 3-5 machines without your dad noticing the power bill going from $300 to $1500, you're nuts. He'll kill you.
The message you are quoting is not even existing
Be aware newbies, scammer is having a fishy conversation with himself right here
Actually, the scammer has had 3 personas here:
Name: NimboPontik93 Date Registered: December 08, 2022, 04:10:35 PM
Name: Pepchich1989 Date Registered: December 08, 2022, 04:14:01 PM
Name: martinenrot Date Registered: December 08, 2022, 04:38:44 PM
In a way it's kinda funny reading their 3-way convo's trying to lure victims into their scam
edit: 12/12/2022, looks like the mods have removed the scammers posts and accounts and are keeping this alive as a CSA
atlas_laserMember
Posts: 22 · Reputation: 238
#7Apr 30, 2021, 05:35 AM
Hi brother if you have almost 50 plus Antminers S19 pro than you will be able to make almost 1 BTC per month and that will be good for you and you might be able to fulfill your dream. I do not know that if you have such good investment or not. If I would have such investment than I will buy only Bitcoin and hold for almost 2 to 3 years and my investment could be double.
I think this is better, buying bitcoin and holding it, we don't need to think about the costs that will be incurred in the operation, it can be said to be more economical, (only my thoughts when viewed roughly, / theory not practice)
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