Anyone else here a miner?
I'm sticking a toe in the water if I can get the right equipment. The days of CPU and GPU mining are fading or already long gone and there's virtually no way to make money without a dedicated ASIC machine. A computer that does just one thing, at full bore all the time. It's not easy to find a competitive ASIC machine without paying a prohibitive price.
It's an interesting market. There's a global supply/demand balance for hashing. That determines how many pennies you make per megahash or gigahash. If there's a lot of capacity online, the price goes down. When capacity dips, you get paid more.
Where I live, I have variable rate electricity and that, along with the hardware specs, determines my costs per gigahash. Back of the napkin analysis looks pretty good. I think I can pay off the rig in well under a year and then maybe make a little.
My goals are just knowledge and fun, but a buddy is looking at building a genuine business out of this. If you locate where electricity is cheap and leverage other resources (friends that do electrical work, family with outbuildings and spare electrical capacity, etc.), it looks like it could work.
Any words of wisdom?
I'm sticking a toe in the water if I can get the right equipment. The days of CPU and GPU mining are fading or already long gone and there's virtually no way to make money without a dedicated ASIC machine. A computer that does just one thing, at full bore all the time. It's not easy to find a competitive ASIC machine without paying a prohibitive price.
It's an interesting market. There's a global supply/demand balance for hashing. That determines how many pennies you make per megahash or gigahash. If there's a lot of capacity online, the price goes down. When capacity dips, you get paid more.
Where I live, I have variable rate electricity and that, along with the hardware specs, determines my costs per gigahash. Back of the napkin analysis looks pretty good. I think I can pay off the rig in well under a year and then maybe make a little.
My goals are just knowledge and fun, but a buddy is looking at building a genuine business out of this. If you locate where electricity is cheap and leverage other resources (friends that do electrical work, family with outbuildings and spare electrical capacity, etc.), it looks like it could work.
Any words of wisdom?