It all started with a huge research project for work. Who knew it would turn into a hobby of this magnitude. It was just a few months ago (September 2017) that I was dipping my toes in the water to see how it felt. I have built myself a nice little income machine. I know its crazy to think that in the 3 months I have been doing this, most cryptocurrencies have doubled, and others tripled. The price (or I should say initial investment) of equipment, both ASIC mining machines and mining rig GPU components are now at a serious demand. Prices have doubled on most things (be careful who you purchase from) required to mine.
When I first got into the game, someone offered me their used ASIC Antminer for $1700. At the time I thought it was a ripoff since you could go buy a new one (or so I thought) for $2300. Just to use actual numbers, An Antminer S9 is rated for 12.5 TH/s (T stands for theta, as in a lot) and uses 1200w of power. At the time in October, it would have made about $18-$22 in Bitcoin daily. This is when Bitcoin was still selling for $4-5k. Then the spike happened in December around the time NiceHash was hacked. Bitcoin hit $19k literally over night. People became “internet rich” overnight. Now that same S9 would make around $35/day and I would have already had my return of investment back (originally figured about 70 days of mining time) and letting a computer bring me Bitcoin daily.
In today’s age with YouTube, Instagram, and Twitter, It is becoming more common that people become famous stars overnight. I guess this is the next progressive step in our millennial driven world. Now its the “new age stock market” with a lot more risk, but the potential for a killer reward.
My initial investment was the price of 3 GPU’s (graphic/video cards) and a lot of time to learn the business and market. Crazy to think how 3 cards would turn into a hobby that is now paying over $10/day due to the influx of investors.
This evening I was helping a friend tune his monster rig and I finally hit a milestone (for mining anyway). I got his rig to run a flat 200 MH/s mining ETH. It was not easy, but now I have done it for myself as well as others. [Yes that’s a shameless plug on my own blog, for myself]
If you or someone you know wants to get in on this, its not too late and still very profitable. I am willing to help as a consultant plan, build, set-up, and fine tune your mining rig.
I don’t expect Bitcoin to take over the $USD but it has the potential to alter our capitalistic society.
EDIT: Here is a screenshot of my buddies rig pulling $30 per day (or .00201 Bitcoin)