So I am the kind of person that when I usually get into doing something that I am passionate about and believe in, I have no breaks. I like to go all in with everything I got. With that being said I believe that Cryptocurrency Mining is my next evolution in going all in with Cryptocurrencies.
I want to continue collecting and hoarding all kinds of Crytocurrencies that I believe will have future value higher than what they are. There is 2 main options that I know off when it comes to mining, GPU Mining Rigs which you have to get hardware for and foot the electric bill, and Cloud mining where you basically lease the rig from a mining farm and keep the yielded coins.
My question is which will yield more profits or ROI for my dollar. I am willing to invest bout 3k to start.
From what I have researched I can put together 3 rigs with 5 graphics cards each for that amount of money if I get the cards cheap on alibaba. Can any one shine some lights on this situation. I would love to kick around some ideas and I am sure many others can benefit from this post.
Pardon me while I smoke this Cheap Cuban Cigar waiting for some ideas. :)
@healthyrecipe From what I have researched if you go after "lites," it takes 18-24 months to recoup your investment. One has to have a high-quality dedicated computer, back-up, surge suppressor, AC, and probably a T1 line. This is just for the small hobbyist.
Since you have tagged your post #business, I am surmising that you are looking to develop multiple streams of income. They should have a reasonable co-relationship with each other.
You mention Alibaba. Researching best sellers and importing them and selling your merchandise on places such as eBay would likely give you an infinitely greater ROI return. I do not tout this as the best opportunity; it's mentioned in light of your reference.
Speculating in cryptocurrencies is much like Forex. There's an actual market there; unlike stocks. You might as want to check your self-sabotage levels. Be well.
I am considering building up to 10 rigs with 5 cards each in order to do my own farm to horde coins.
Do you presently speculate at all with cryptocurrencies?
Not really I just horde them. I had 4 Bitcoins i bought at $75 each back in 2013 that i just sold and a few million dogecoins that i had for a while that i also got rid off. I usually hold them for quite some time. Now I just want to mine and horde for a while. I have some numbers I want to meet and figured mining would be a good way to stretch my investment.
Well, have fun whatever you do with this. It should always feel like play rather than work.
For sure. Thanks for stopping in.
good luck freind, you should look into bitconnect, eobot, genesis mining, and faucethub.
hope you find some gains.
This post received a 3.9% upvote from @randowhale thanks to @healthyrecipe! For more information, click here!