Start MIning Crypto in 2018?
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I'm Getting My First Mining Rig!!
So I'm sitting with my investment partner and we are talking all things crypto again as usual even thought we normally talk about real estate. The subject of Bitcoin, mining, and other cryptos has been dominating our conversations now for the last 6 months. Even though I am primarily a real estate investor , I also have experience investing in other financial instruments likes stock, bonds, mutual funds, and I also like hard assets like silver, gold , and lead of course. Digital currency is a relatively new field for me , but I am very excited about all the possibilities.
He came to me with a proposition to lend him some money so he could build a proper rig. He was confident enough to offer me 20% interest on the loan and I genuinely wanted to see him make it successful. We shook on it and he began his shopping spree of hard to find video cards and old power supplies. He started building his machine and things have been humming along smoothly with him adding upgrades here and there and using software to choose which coin is the most efficient to mine at any given moment. As such, he has been building up his wallets and the time has come for him to to pay me back.
Partners
I have a lot of trust for this person, who happens to run a retail software store and helps me to run my meetup group. I had no hesitation whatsoever lending him the dough for the six months he needed it. However, I told him that I did not want to just be a lender - I wanted a partnership - so I told him that rather than pay me back the money I lent him , I want him to build me a rig of my own. Since I am not as technically saavy as him, I will need help me keep it up and running, updated, and general support.
So the money was due in December and we sat down and talked about it. We have a lot plans that we would like to roll out and I will discuss those in more detail down the road - however, for now I am going to have him build me my fist rig. It will have 4 GPU cards to start it off and we build it up from there. It will be capable of mining multiple types of crypto so I will not be locked into one coin type. I will honest - I don't know all the technical specs of what he is putting together for me - and that's OK. As my partner , he gets a percentage of everything my rig mines ( after electricity costs), so he is motivated to make the rig as good as possible. This will only be the first of many that we pool together. I'm very excited about the direction that this partnership is going and I look forward to updating everyone on it's progress. I am thinking of doing weekly updates to show what is being mined and why.
Are you going to build a rig this year? I believe this is the year of the Crypto and I don;t want to get left behind.
I look forward to updating you all with pics of when it is finished as well as how well it is performing!
Please be sure to check back and see how it turns out!
Please be sure to check out my others articles on real estate, investing , and cryptocurrency ( and some other random dog stuff)
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Good luck in your venture... I would like to try myself. However electricity is really expensive where i live so I use Genesis mining when contracts are available. I believe they only have monero at the moment. Good post. :)
OH! I forgot the best part .... I will be using a solar setup to power the system. We have a lot of sunlight here and it will save a lot of money to use free electricity from the sun - not saying it will ALL be free.. but it will at least help to offset the costs.
Sweet! gonna be cool to see the setup. Shout out from Canada!
#bitcoin
My head has a headache thinking about the bitcoin price now because its selling it
yeah.. bitcoin is so high now and difficult to mine - I will be focusing on other alt coins and mining those instead. I'm not selling my btc though .... i got in at a decent price will continue to hold onto it.
#bitcoin
why yes bitcoin price rise, can you explain