More Power! Second Crowd Funding For Crypto Mining Rig Is Now Open!
Hi everyone,
It's @cfminer here and I wanted to announce, that the second crowd funding for the crypto mining rig is now officially open and everyone can invest. If you're interested, please continue reading :)
What is crowd funded crypto mining rig?
It's a PC build to mine cryptocurrency and funded entirely on STEEM by STEEM users who invested their SBD. In return account @cfminer, who manages the rig, pays profit from the mining to all investors according to their stake.
The payments system is fully automated and the payments are done every 1-2 days. Currently because of the high Bitcoin fees, the rig profit needs to be manually converted to Litecoin. When NiceHash will allow LTC payouts, the system will be fully automated again.
Is it working?
Yes, it's already working and paying the investors. You can see the mining in real time here:
https://www.nicehash.com/miner/3KVnqALMtzDwWP3jK8D6QZ9j3KhTxWoUTP
And you can see the payouts here:
https://steemit.com/@cfminer/transfers
Please note that the average profitability reported in payouts include also the time when the rig was still setting up, turned on and off, tweaked etc.
The main specs for the rig:
CPU: AMD Ryzen 1600 (great for CPU mining)
GPUs: 2 x Geforce 1080 + 1 x Geforce 970
So what's the profitability?
Currently it's over 1% per day - 1530 USD were collected in the first funding and the rig is making 15-20 USD daily. Such a high return on investment is possible because the second Geforce 1080 was funded by posts payouts - so without additional funding profitability was increased.
After this round of funding, expected profitability per day is around 0.7%. This means, that if you invest 10 SBD, you should expect to receive 0.07 SBD daily.
Please remember that it's hard to predict crypto prices in one, two, three months from now and as such it's hard to predict profitability in the future. Yet, it's still profitable to mine on GeForce 970, a GPU released over 3 years ago and we're aiming to buy GeForce(s) 1080 - much, much more efficient in mining.
What are the conditions of funding?
The funding will last for a week - from 13.01.2018 till 20.01.2018.
Minimum investment is 0.1 SBD but I will suggest at least 1 SBD.
Maximum investment is 400 SBD.
The goal of the funding is to fund 4 x Geforce 1080 GPUs. Their total cost is 400 SBD with SBD price at $7.
If you want to invest, send SBD to @cfminer with any memo.
I send you what I can
Really cool idea. Shame my steemit account is poor. Lol
Now ya got a penny. Its all I got right now. But keep posting. You'll get there.
Wooo! :)
@cfminer - Just sent 2 SBD to join your 2nd round and wonder how long the profit sharing will be last. Forever?
Regarding the NiceHash Pool that you mine. Is it still safe and sound as it is being hacked recently and so many complains about stop payment, payment delays and etc.
Please kindly guide and advice. Thanks :-)
Yep, as long as mining profit is bigger that electricity bill. And NiceHash is quite safe, even if got hacked again, lol, we would loose only few days of mining. But yeah, I will be looking for alternatives anyway :)
@cfminer - Thanks for clarification. Have a Great Day/Cheers :-)
This post has been Upvoted by @alaminbinamir
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Thank-you @cfminer for supporting
If I send 5 sbd, until when will I receive payments from you? I did not understand @cfminer
The new parts on the rig should be installed in about a week - then you should start to receive first payments :)
tip!