First a little about me.
I'm a teacher, woodworker, Dad, and husband. I have a good working knowledge of most things computery... I remember when bitcoin launched, I had nothing but doubt. This revolutionary new currency that people could create with their computers??? Ya right! what a scam. Well if you're reading this, you know that turned out.
Fast forward a decade or so, and here we are. I didn't really have any passion for crypto, as I looked at it as more of a tool for the shady underground, and had no idea so many alt coins existed. I continued on my way as a naive teacher, ignoring this world of possibilities exploding all around me. I did however, hear rumblings about Ethereum. I ignored them, then the rumblings got louder and louder, I continued to stick my fingers in my ears and ignore the world around me. I did notice a bunch of my friends, peers, colleagues bitching and complaining about not being able to buy a graphics card for any of their PC builds.
This intrigued me. Being the natural born angle shooter I am, I began sourcing video cards local to me... I thought I could make a quick buck if I flipped them for the outrageous prices people seem to be paying for them. I mentioned this to a long time friend of mine over a cup of coffee. He with the tech sense of an ape, but the business sense of Jordan Belfort says "Dan, If people are paying this for these cards, we need to look into why".
And with that it all started...
I read, and read and read some more and I can confidently say I might now know .000000000000000001% of everything there is to know about crypto. Being the cash strapped risk averse person I am, I decided to I wanted to build a rig, but instead of shelling out a few grand, I would get a few friends involved and sell stakes in the rig itself. So our first rig was split 6 ways, but I bought 1/3, and 4 other friends bought 1/6. I'm happy to say that this rig is still humming along and dual mining ETH and DCR.
This however, unleashed the beast. I soon became addicted to the prospect of mining and eventually trading crypto. This led to mining rig #2 being created. I split the cost of this rig 50/50 with my brother-in-law (who also owns 1/6 of the first rig) and this rig is also happily mining ETH/DCR.
I purchased a 2 year Genesis mining contract (I realize I should have either just bought the coin, or more mining hardware) mining ETH @ 30MH/Sec
and I have 40TB dedicated to mining Burst (a Proof of Capacity coin). Burst has had some drama lately that resulted in the forking of the block chain, but has since smoothed out. I really like the idea behind burst, and I have no doubt another PoC coin will pop up sooner or later.
I will update my progress into this world every two weeks or so, I won't beg, or shill out my referral codes with each post, and I don't mind divulging earnings if other beginners are interested. I think this is an interesting hobby and I would love to meet and share experiences with others in it.
why not dip further and go into GPU mining? Use two or three gpus, and mine using nicehash?
I have been doing such, and it works. It helps me pay my household electricity bill, at least.
hi Zen. Thanks for the post. I did actually fireup my desktop card (rx 580) on nicehash to try it out. do you find it is very profitable? I almost wonder if I would be better off just mining on a pool myself?
Welcome aboard Dan. Like you, I'm a little late to the party. But we are still early adopters.
thanks Kevin!
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CaPiTaLiZaTiOn brah!
yeeep should have proof read a little better. Clearly not an English teacher :P
should be better now
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