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Passive income methods (GPU Mining included) {QUESTION!}

Discussion in 'Making Money' started by alexistheboss15, Feb 7, 2014.

  1. alexistheboss15

    alexistheboss15 Regular Member

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    I am aiming to make $1000 USD + a month via a passive income method.

    Now BTC mining is dead, unless you get an Overpowered SHA256 ASIC.

    I was thinking of building a Scrypt GPU mining rig, people say ASICs are coming out but they seem to be Salsa20/8 mods of the SHA256 rigs meaning they don't pump out a lot of hash/$.

    For 3400$ I can make a rig with 4.2 Mhash/sec Scrypt.

    Now most sites say that I can make 1000$+ profit out of most alt-scrypt currencies using that hardware, and that I can sell it back at 50%+ the original price (1700$+) meaning I should get a good ROI.

    What do you guys think in terms of passive sources of income,
    I am trying to do projects and would like a passive source of income easy to monitor and stabilize.


    I would have up to 10,000$ to invest in order to earn 1000/month+



    ( I AM NOT LOOKING FOR DANGEROUS GAMBLING METHODS SUCH AS FLIPPING SITES)
     
  2. hip_hop_x

    hip_hop_x Jr. VIP Jr. VIP Premium Member

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    Be careful with mining because no pool will find blocks at 100% rate. Usually it's at least 130%, so your profit will be narrowed by at least 30%. Do some experiments and see if you can cover the power costs and what it takes to flip from pool to pool if you want to max out your profits.
     
  3. CazuaL

    CazuaL Jr. VIP Jr. VIP Premium Member

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    Have you taken into account power costs?
    These sites that tell you how much you can earn are just GUESSING. No coin can be predicated and because of that crypto currencies are a risk
    Should only invest what you can afford to lose.
     
  4. IMpossible

    IMpossible Supreme Member

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    And what about the electricity bills?