I wonder if an experienced miner could estimate what kind of investment would it take to start making say $10k in monthly profit mining crypto? Just a rough estimation, I do realize that electricity prices, taxation etc. varies from country to country.
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do your own math: atm maybe 40.000-50.000 investment for decent asics if you get them,but its allways a bad moment for calculations during a bullride the
competition will jump in fast, asics not available, only long waiting list etc...
and profability will decrease to an extreme.so your 6 month Roi calcultion now can turn to 3 years when you get your asics
https://hashrate.no/asics -
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I would say your investment would have to be around $100K+ and you'd have to have found something new that nobody else is doing.
Speaking of Helium. I got into it early and with 1 miner I was doing around $80 to $150 per day. I was alone in my area accept for perhaps 15 others who were on hilly terrain. So I was the connecting point for all of them. Then I began to get neighbors. Lots of neighbors. I am talking 5 new ones per day. I still made about the same for a while. Then things went South real quick. Suddenly I had 100+ neighbors in my valley and I was doing $25 to $50 per day. So I set some up at several houses owned by family and friends. Went back to $80 to $150 per day for a few months. Then my neighbors had 50 neighbors and it went to $5 to $25 per day. And the value plummeted. I did sell a good portion that I converted into something else for around $8000 and basically made very little profit over a 2 year period. Now when I look at the map of my area it has 10,000 miners or so? I think people now make less than they spend in electricity.
Was fun while it lasted.Comment
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