Current project is to complete the rig that generates profits equal to my monthly mortgage payments.
Well on a way. And it's lots of fun - i never assembled computer before :)
To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
https://techcrunch.com/2021/03/21/the-debate-about-cryptocur...
https://www.bbc.com/news/technology-56012952
https://hbr.org/2021/05/how-much-energy-does-bitcoin-actuall...
Musk and others spread fud about energy usage and I'm sure that made lots of people to guilt trip themselves when they turn on the light in their bedrooms or use computer.
I'm pretty immune to fuds and clickbaits, thus mining never was an issue for me.
- in summer make sure to use solar power, and pump waste heat into pool or hot water tank
- in winter just heat your house, even better if you utilise co2 emission free source
- autumn/spring - mix both
Recuperation of crypto mining waste heat can be a real household saving.
No different from datacenters or cloud computing business.
Anyone who thinks the environmental impact of crypto is the only ethical problem hasn't dug deep enough.
Just like AI.
Lots of fud aroud this is spread by entities who has way more commercial interest than "doing good".
I have absolutely no reservations about it.
I'm all for making energy sources more efficient and green and whatnot.
It's true that many other people use water in other ways. I'm sure industry uses a lot of water.
Are you comfortable with this approach yourself?
It uses high end graphics cards RTX 3060Ti and RTX 3080 that shouldn't go to zero resale value even in a year or two.
Mining for the same coin typically produces less and less of that coin due to difficulty increase.
However difficulty increase for the same coin typically associated with it's price increase as well.
So to derive most benefits from mining it's better to mine solid coins (like ETH right now) and hold them.
I currently mining non-ETH coin that increased in price 30% in a week by itself.
So this helps to make this venture more beneficial.
And then I use dedicated mining OS (HiveOS) that allows to control the whole thing fully remotely and in fact switch mining to more profitable coins dynamically.
GPU's are hard to get indeed - but everyone has it's own ways. If you're willing to pay 50-100% above retail - you can get powerful GPU's from eBay at any time.
mining crypto on the home machine
The biggest learning bump has been temperature and air flow control. But winter's coming so that should be pretty easy.
