investing $200,000 usd on gpu mining

[mybank]

hey everyone

so I made my decision and I wanna put my money on gpu mining.

I have access to the cheap electricity, so electricity is not a problem.

since the bitcoin price is low (right now), I think that the gpu prices are low too (for now), and this is the best time to buy gpus for mining (let me know if you think otherwise).

I think there is no way for me to lose my money doing this, because let’s say the bitcoin price went to 0, I still can sell my rigs to the the people who don’t mine (with some discount at worst).

in general I think for this amount of money I will get a good discount for gpu mining parts.

with my Calculations i think i will get the money i started with ($200,000 usd) after around 1 year.

at the same time i will not sell anything i mine, i will hold for around 2 years on some cryptocurrency like Ethereum (i know you can not mine Ethereum after around another 8 months from now).

I wanna know is there something that I didn’t thought about, and is there a way for this investment to go wrong?

I am looking forward to your replays.

 

[Xeeeeviar47]

Dude, if you want bitcoin buy bitcoin for that amount and hold for 2yrs like you said.

With your projection of BTC going to zero then who would buy your rigs there are tons out there.

You want to go all in, go or divest into multiple crypto coins.

Or use $100,000 for this idea and the other half for something else like agriculture or something. Just saying

 

[Preon]

Last I checked GPUs where hard to get.

 

[wankawonk]

way smarter move would be to take that $$ and buy enough eth to run your own eth2 validator nodes.

 

[mybank]

Dude, if you want bitcoin buy bitcoin for that amount and hold for 2yrs like you said.

With your projection of BTC going to zero then who would buy your rigs there are tons out there.

You want to go all in, go or divest into multiple crypto coins.

Or use $100,000 for this idea and the other half for something else like agriculture or something. Just saying

the thing is, if i get gpu i can stop everything if something went wrong with bitcoin, or in case if i needed money.
if i invest my money on bitcoin right now, and something went wrong with bitcoin, then i will lose money...
but i will look for more things to invest.
thanks anyway.

 

[mybank]

Last I checked GPUs where hard to get.

i know someone.

 

[Deleted member 1333509]

gpus drop in value so quickly.. we've just had a huge 50% sell off in the middle of a bull run, sink your $200k into the market now and pull out $1M in 6 months.

 

[BbHhWwVM]

I agree 100% with you, so nothing to add, but Go.

Mining will only be more and more profitable, with new doors opening every few. That's not under question.

 

[SpeedProxies]

Joining GPU mining now isn't a good idea unless you really got a good supply of GPUs (or you just bot them yourself to buy)

 

[AnonyCore]

Honestly unless you have the GPU its probably going to be hard to get into but I wish you the best of luck.

 

[Chris Newman]

GPU mining works on proof of work, which is not "green". And nowadays the focus is on the "green' cryptos which work on proof of stake.
Unless $200,000 is a small amount for you, I would suggest not to go for GPU mining. Moreover many govts are suddenly taking a u-turn when it comes to mining rigs.

 

[mybank]

gpus drop in value so quickly.. we've just had a huge 50% sell off in the middle of a bull run, sink your $200k into the market now and pull out $1M in 6 months.

that is interesting... since i know you are the one who believes in bitcoin. can you be more specific about putting my money on the market? i mean what can make that much in 6 months? ($200k to $1m)

 

[mybank]

I agree 100% with you, so nothing to add, but Go.

Mining will only be more and more profitable, with new doors opening every few. That's not under question.

Honestly unless you have the GPU its probably going to be hard to get into but I wish you the best of luck.

thank you, gpu is ready but i wanna be sure before buying.

 

[treelancer]

way smarter move would be to take that $$ and buy enough eth to run your own eth2 validator nodes.

What is the benefit of validator node. I can see that it is providing apy of 6%. This seems to be to low for locking money for 2+ years.
Am I missing something?

 

[mybank]

Joining GPU mining now isn't a good idea unless you really got a good supply of GPUs (or you just bot them yourself to buy)

from where do you suggest to buy?

 

[Ashway]

Bad choice. Dont do it.

Better invest in your fav crypto directly and earn yield by farming on aave. Earn additional interest by Borrowing against your collateral, put that borrowed money in curve finance earn additional interest on that as well.

This is by far your safest and most efficient way to make money in crypto.

 

[Sardi]

I think that the gpu prices are low too (for now),

where? How ? what's the definition of low price for you?

 

[Paul1427]

$200.000 let's say will be 133 gpu RTX 3090 (with discount let's say you will buy 1 gpu for $1500). The current hashrate is maxed out at 120 MH/s per gpu so you have (120MH/s x 133 gpu) 15.960 MH/s per day so your profit per day will be around $1000 - $1200
If cost of electricity will be 0 then your return will be in 200 days (theoretical). But - here is the trick - every day Difficulty will incrase so your earning will decrease day by day. The best scenario is Difficulty mining increased but also price of ETH will increase(maybe double) but this is the best scenario. The wors scenario is Difficulty mining increased but also price of ETH will decrease to half or more.

So, the trick for farm mining is:
1. 0 cost of electricity or very very cheap
2. cheap gpu buying

Otherwise isn't rentable. If you buy ETH for $200.000 and then sell after 1 year when price is high, your profit will me more than mining.

PS: If btc/eth will go to 0, then you can't re-sell your gpu to cover your investment because everybody will sell. So, if you buy a gpu card for $1500 and market is crashed it's possible to not sell your gpu(will be forever with you) or maybe sell for only $200-$300. My advice is to make your calculations but keep in mind Difficulty mining will increase so your earning will not be stable day by day for 1 year. Also add cost for cpu, ram, ethernet..also if your electricity will be supported (1 gpu rx 3090 will consume ~300W per hour so ask if your supply of electricity can offer you that amount per hour/day without INTERRUPTION)

 

[treelancer]

$200.000 let's say will be 133 gpu RTX 3090 (with discount let's say you will buy 1 gpu for $1500). The current hashrate is maxed out at 120 MH/s per gpu so you have (120MH/s x 133 gpu) 15.960 MH/s per day so your profit per day will be around $1000 - $1200
If cost of electricity will be 0 then your return will be in 200 days (theoretical). But - here is the trick - every day Difficulty will incrase so your earning will decrease day by day. The best scenario is Difficulty mining increased but also price of ETH will increase(maybe double) but this is the best scenario. The wors scenario is Difficulty mining increased but also price of ETH will decrease to half or more.

So, the trick for farm mining is:
1. 0 cost of electricity or very very cheap
2. cheap gpu buying

Otherwise isn't rentable. If you buy ETH for $200.000 and then sell after 1 year when price is high, your profit will me more than mining.

PS: If btc/eth will go to 0, then you can't re-sell your gpu to cover your investment because everybody will sell. So, if you buy a gpu card for $1500 and market is crashed it's possible to not sell your gpu(will be forever with you) or maybe sell for only $200-$300. My advice is to make your calculations but keep in mind Difficulty mining will increase so your earning will not be stable day by day for 1 year. Also add cost for cpu, ram, ethernet..also if your electricity will be supported (1 gpu rx 3090 will consume ~300W per hour so ask if your supply of electricity can offer you that amount per hour/day without INTERRUPTION)

I think over long period of time, increase is difficulty is less than increase in price. So ideally, even if difficulty is increasing, price should follow.

I am not sure if this is true that if market crash, he will not be able to sell GPU. GPUs are being used for mining but still GAMING industry is big.

 

[treelancer]

Bad choice. Dont do it.

Better invest in your fav crypto directly and earn yield by farming on aave. Earn additional interest by Borrowing against your collateral, put that borrowed money in curve finance earn additional interest on that as well.

This is by far your safest and most efficient way to make money in crypto.

If it is a bad choice than at first place why people are actually mining the crypto?
If people will not mine crypto, Crypto will fail. So as per theory it should be 100% profitable.