Crypto mining

**Deckard** · 10-10-2014, 05:06 AM

Contrary to what a lot of people claim, mining with GPUs can still be very profitable, as long as you're willing to read up on new coin launches and get in early on the ones that look promising. I've gotten a bit lazy with this, but I plan to get back into it once I have my rigs stable. Speaking of rigs, here's my lil cluster of milk crates:

**notdavidlynch** · 10-10-2014, 05:10 AM

Dude I know did something similar for his MFA exhibition. He had a GPU based bitcoin mining operation running on the wall of the gallery. It had a nice sculptural aesthetic to it.

**Deckard** · 10-10-2014, 05:23 AM

I've seen some rigs that are works of art. I think you need a certain amount of OCD for that, though.

Mmm, hardware porn.

**LordLatch** · 10-10-2014, 05:28 AM

Originally Posted by Deckard

Contrary to what a lot of people claim, mining with GPUs can still be very profitable, as long as you're willing to read up on new coin launches and get in early on the ones that look promising.

This like any other money making method begins to resemble work!

**Deckard** · 10-10-2014, 06:05 AM

Originally Posted by Dr. Ahcir

This like any other money making method begins to resemble work!

It's better than bagging groceries. But, yeah, passive incomes are where it's at, hence the automated trading project.

**notdavidlynch** · 10-10-2014, 06:31 AM

Originally Posted by Dr. Ahcir

This like any other money making method begins to resemble work!

Or investment.. How much does your setup cost Deckard? How much room does it take up (I guess I can see that, but I don't know how much the space costs)? How much electricity, etc?

**Polemarch** · 10-10-2014, 06:38 AM

If someone has a credible business plan for this, I'd be willing to consider investing capital.

**Deckard** · 10-10-2014, 06:40 AM

Originally Posted by notdavidlynch

Or investment.. How much does your setup cost Deckard? How much room does it take up (I guess I can see that, but I don't know how much the space costs)? How much electricity, etc?

These rigs are around $1600 each. They use somewhere between 200-800W each at full load, depending on the type of GPU and the type of mining algorithm. So electricity costs are substantial. If you're using the generated heat to heat your home then you can offset the electricity cost somewhat. Otherwise you have to figure out how to exhaust all that heat efficiently.

**Deckard** · 10-10-2014, 06:47 AM

Originally Posted by Polemarch

If someone has a credible business plan for this, I'd be willing to consider investing capital.

It's generally better to scale up for the sake of efficiency, but then you need to find some poor sap to be sysadmin & hardware tech for all those machines. If you'd rather not handle the hardware side of things yourself, you're probably better just investing in a cryptocurrency portfolio directly.