Originally Posted by DiGiCiDAL
I've highlighted for easier reading comprehension:
I was simply saying that you are looking for short-term gains on early low-diff coins without any intention of holding anything because you're aware that you're mining garbage. That was all.
I don't have a farm nor do I see mining cryptos as an income stream... I have a job (a good one at that) that pays for everything I need in life. I mined everything I have in cryptos on the same 6970s, and later on 7970s, that I'm using now with the exception that I've added a few 280Xs just for grins recently when I saw potential in DOGE long-term. On my best days I have around 5Mh/s in scrypt hashrate - and with UTC/VTC (partially allocated admittedly) I never saw more than 2Mh/s at the pool.
In order for me to replace my income with farming - I would have to 1) convert 80-90% of my crypto earnings into fiat - and pay taxes on those returns which would cost me 50% off the top. And 2) I would also have to lease a facility, purchase 100-200 GPUs, and probably pull an additional 200A into the space - pulling appropriate permits etc.
I have an idea of your age based on your posts and priorities... I am much older I believe - and as I stated (clearly I thought
but apparently not) there are different goals for different demographics. If I was back in my college days, sharing an apartment with 3 people, and working 3 different part time jobs... then I would certainly follow your pattern/direction.
I provided 3 very different scenarios for 3 very different types of miners, I also very clearly stated that they are not all for everyone... don't know what your problem is with that... but whatever.
Ok whatever mate, its quite simple though, your telling people that your concept will work in the future, when there is no guarantee it will?
just because it worked for Bitcoin & Doge for you, Does not mean it will work again & is well! pretty high risk to say the least.
From what ive seen you say your happy with your job & income etc etc & are not interested in a farm, You must have one hell of a job mate, lets just put it like this? if i earn't over a bitcoin a day from a farm & added that up over month & took away your running costs & tax's, that's just under £9000 a month or £108,000 a year at current prices. I don't understand if you have so much bitcoin & they cost you about $2 each whats stopping you!
oh & Well as for age I don't care how old you are? I have met 40 - 50 year old blokes who think that age makes them smarter. So you cleary think that being older makes you more intellectual on how to make money or how life is blah blah, Im 29 years old mate & ive been around trust me! I live in my own little flat, have nice things, I can pay all my bills, well the ones I choose to hahaha, but if your so smart you would know that not all bills your sent from third party's are legal & you have no contract with the third party & are not obliged to contract with them. permits pfff don't be silly, renting additional space hmm, a spare room or decent sized garage would suffice! but you live in a big house with a garage right from your really well paid job. Im sure you could pay an electrician a few hundred bucks to fit a couple of consumer units no? also I have worked as an electrician & if you knew electrics you would know that a 3 phase supply to the building is not need to run a farm! there is no 400v or 600v machinery going in there so I don't see how you would need a permit.
Lets just put it this way, I use to make £6000-£8000 every 10 weeks roughly so when you talk about money like you have more or have a better job etc etc, id like to know how much so we can get some facts straight! I don't make that currently atm but it would be nice to get back there & doing it legitimately in some respect.
To me it just comes across as your old & have no ambition left! Your happy with what you have & will settle for that! your one of those people that just does what there said there allowed to do
Trust me those people never get ahead in life!
Sorry mate but for the life of me! I cant fathom what the hell your doing? You say your sat on lots of money in bitcoin? that could collapse tomorrow? then what will you have! nothing!
I would already have it in fiat & pay the tax on it! you will need to do it at some point? or maybe tax will go down! wishful thinking?
Ok rant over! ive said my piece, you do your thing & i'll do mine!