Bitcoin mining 100,000$ a year

[Salamouna]

You can't mine btc with gpu

 

[Brickbat1]

Seriously, this thread pops the all important question: why are the folks who currently mine Bitcoin doing it? It's clearly not because of reward profit, because it barely exists. There must be a catch why they spend so much to get so little..any idea why?

 

[india]

If I show the Excel sheet in my Bank next time they will throw me out and close my bank account.

 

[Elvlin]

"It is guaranteed that you make 100,000$ a year so for the bank you can explain there's no loss risk"
well you can tell that to the bank and tell us here the update lol.

Seriously, this thread pops the all important question: why are the folks who currently mine Bitcoin doing it? It's clearly not because of reward profit, because it barely exists. There must be a catch why they spend so much to get so little..any idea why?

a lot already close down, those still doing it, usually is those getting rich from btc like have 10k token or even more.
you need to keep it running make sure the blockchain is maintaned and running. basicly maintaining their asset value.
or if you have acess to very cheap electricity, with a lot of capital

 

[Turbo B.]

Antminer S19 XP Hyd. – 255 TH/s
Cost $19,800.00 /0.48084449
Manufacturer: BITMAIN

Condition: NEW

Pre-odrer: SHIPPING JULY 2022

Warranty: 2 years

Makes 76,000$ a year

You buy 2 instead of 10 for 40,000$ then you make 152,000$ a year

Cost of electricity = $0.25/KWh:

 

[Stifmeister]

"It is guaranteed that you make 100,000$ a year so for the bank you can explain there's no loss risk"
well you can tell that to the bank and tell us here the update lol.


a lot already close down, those still doing it, usually is those getting rich from btc like have 10k token or even more.
you need to keep it running make sure the blockchain is maintaned and running. basicly maintaining their asset value.
or if you have acess to very cheap electricity, with a lot of capital

Places that have dirt cheap electricity, this can still be very profitable.

If you were in the business, especially when china banned it, you were able to buy ASIC's by the kilogram, and I mean literally.

If you can get your hands on a good ASIC for cheap, you can still make good money. Not whatever OP is saying, but decent.

 

[B1B2B3]

it would work. The bank doesn't give you 50,000$ if you have 0$

 

[breakcode]

My bank only accepts barter, what can i trade? The corn?

 

[Cash.illuminator]

Those companies would never give it out on rent if it was that profitable

 

[CPANathan]

roibox gives loans for this kind of thing

 

[Elvlin]

Places that have dirt cheap electricity, this can still be very profitable.

If you were in the business, especially when china banned it, you were able to buy ASIC's by the kilogram, and I mean literally.

If you can get your hands on a good ASIC for cheap, you can still make good money. Not whatever OP is saying, but decent.

Where can I get asic machine by kilogram? haven't found anyone selling it.
yeah china banned it, but i bet the gov still mine it.

 

[N3WY0RK]

The solution is to set your rig up in an airbnb where electricity is included for free...

 

[liladhen]

You are one of the biggest reaction farmers.
With every post on how to become a millionaire overnight you come up with something you've never done, you make us laugh at least.

The solution is to set your rig up in an airbnb where electricity is included for free...

That was indeed a good idea.

 

[Rikabu]

That was indeed a good idea.

mining in a airbnb is a terrible idea in many ways

 

[infernel]

sounds good but in reality its very hard now

 

[ironmoney]

Sounds easy

 

[Bots-Scrapers]

With 50,000$ dollars to buy 10 mining rigs of 12 GPU each 8gb per GPU you can win 100,000$ a year

Make it a business go to the bank and show calculations in excel file

Ask for 50,000$ and offer to give 60,000$ back to the bank

It is guaranteed that you make 100,000$ a year so for the bank you can explain there's no loss risk

oh my god!

 

[Exxtra]

50,000 + cost of upkeep (electricity), components breaking/frying (happens more than you'd think).

The electricity issue is easily dealt with by splicing in a cheap stereo potentiometer between the "current transformer" that reads the current usage and the PCB of the smart meter. In the USA most smart meters are FOCUS AX or FOCUS AXR and the current transformer is connected to the PCB by a two-lead wire, one white and one blue. When done properly, you can adjust the potentiometer so that when you are mining, your meter only reads normal usage. The other option, which I prefer, is to simply disable the meter altogether. The right way to do this is to right REFUSED on any "electric bills" that come in the mail and then put them back in the mail. Eventually, maybe, they will cut the power. Once they do this, they expect the power to be out so you can safely disable the meter altogether and then turn the power back on.

I'm thoroughly amused by the seriousness of "hey, if you spend 50k on something, you can turn it into 100k later

Of course, as with anything, the idea that you can get results by paying for something then sitting on your ass is laughable, but a 100% ROI is not unattainable

 

[susocial]

It is guaranteed that you

will go to jail when you cannot pay the bank back

 

[vinnyMS]

will go to jail when you cannot pay the bank back

you have all your life to pay back the bank, they can wait for you to find the money

also, you can launch plan B

plan B depends. you need to split the money and share it with 3 or 4 friends

ask your friends to participate and share the bank loan and earnings

the bank will have 4 responsible people instead of 1