i’ve been lurking around here for some time now and the but still seeing people with 10-20 gpus still amazes me.
if its not confidential ( i dont have any clue how this works), how do you guys even afford this stuff?
i work full time but i still can barely afford a single brand new 1080
I can’t speak for everyone and I definitely don’t have 20 gpu’s (more like 6).
I consider zcash my savings account, I put as much as I can in when I can. Any overtime I work goes into more parts, part of my paychecks go towards more parts, I made a few deals such as let me borrow $600 and I’ll give you back $800. Then I pay them back $400 a month out of my paycheck while everything the cards make don’t get touched.
I also invest and trade with other alt coins when I see a way to make a quick profit, then back to bitcoin and either to zcash if I suspect the price to go up or back to fiat and into more parts.
Then there’s bitcoin gambling but I won’t get into that as that’s not the best way to go about it as the house edge bites hard.
I suspect people with 20 gpu’s either acquired them from mining other currencies over a period of time or are fully committed and is investing whatever they can. You can reinvest your earnings into more parts as well. Say your right makes $650 a month, you buy a new 1080 ti every month with your earnings, now you make more then before. You do it until you double your monthly income then you pay yourself back.
It’s hard to say and I doubt people will be jumping over the idea of telling you how they got to where they are. Too many variables
I used to feel like a king with two 1060. Then I found this forum and I was like, people here bought 40 GPUs for mining!
I am very lucky and am a director and shareholder of a company that has money in the bank right now that it doesn’t necessarily need to run, and as part of UK tax laws a director can borrow up to 10k tax free as long as it’s paid back within 9 months of the end of that specific tax year.
So after lots of thought I decided to borrow 10k to build a 24 card(1070) rig with the proviso that that I pay the money back within 1 year. I’m generally a safe gambler so as soon as I have enough in ZEC to pay it back, I will more than likely do so (rather than holding until the end of the tax free period to see if ZEC is worth more, albeit as tempting as that is).
I figured if it all went to the wall I would still have the gear which would be worth at minimum 60% of the original value so or me it’s more of a 4k gamble rather than 10k. For the potential gains (if things went well I could make 50k) I think that’s not a bad risk all things considered.
If I wasn’t in a situation where I could do this (I’m grateful that I’m this fortunate) I’d honestly not have more than maybe a 4 card rig.
Thank you for this. This is the sort of risk-reward response i was looking for. i never thought of it that way. the resalable value of the equipment. (depreciation, historical value and all that high school economic jargon) really makes it worthwhile to consider buying brand new items (in bulk) as opposed to buying second hand goods. I believe tho that for someone reading this thread that are still on the fence about crypto who doesn’t have enough capital to mess around with, its well worth while to buy ‘pre-loved’ goods from online auctions. ( from where im from its trademe, or cragislist and one mentioned here is kijiji)
Totally agree man! It will hopefully be a risk I’m glad I took further down the line!
trading dank memes, make you dank gains
I also don’t have alot of money but I started with jusst my 2 gpus that I got for gaming and once I earned enough money I bought a new gpu i have currently 6 gtx 1060
Same here, i was lucky enough to make the decision to buy a second hand 7950 4 years ago for gaming.
now shes being used primarily for mining, still going strong. only had to replace fans one time which was like 2 weeks ago