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Ask HN: How much recurring income do you generate and from what?
It’s always interesting to know the (side) hustles people are running that, in their opinion, provides recurring revenue that is either a good source or passive income or their main source of income.
- Trias11 5y agoLately getting excited about crypto mining. Current project is to complete the rig that generates profits equal to my monthly mortgage payments. Well on a way. And it's lots of fun - i never assembled computer before :) To summarise: Currently $10k investment in crypto mining generates about $1k/mo profit. You can proportionally scale it to desired outcome.
- rcavezza 5y agoI'm very unfamiliar with this, but is there additional ongoing costs in terms of extra energy consumption? Do you know if this rig is changing your monthly energy costs?
- Trias11 5y agoYes, and my calculations are after electricity costs of about $0.12 kW/h
- sydthrowaway 5y agowhere the hell is electricity that low..
- strongvigilance 5y agoWhat kind of depreciation do you get on crypto mining hardware though? Will that setup still be profitable in x months, when better performing hardware exists?
- Trias11 5y agoThe hardware pays for itself with current conditions remain constant (which is never the case!) in about 8 months. It uses high end graphics cards RTX 3060Ti and RTX 3080 that shouldn't go to zero resale value even in a year or two. Mining for the same coin typically produces less and less of that coin due to difficulty increase. However difficulty increase for the same coin typically associated with it's price increase as well. So to derive most benefits from mining it's better to mine solid coins (like ETH right now) and hold them. I currently mining non-ETH coin that increased in price 30% in a week by itself. So this helps to make this venture more beneficial. And then I use dedicated mining OS (HiveOS) that allows to control the whole thing fully remotely and in fact switch mining to more profitable coins dynamically.
- jp42 5y agoCurious to know where you are running your mining rig? in your house/apartment or you rented some other place? Also is there any limit on how much electricity you can use in apartment/House?
- Trias11 5y agoSingle family house. In fact i don't have any space to put rig but in a dining room. It's quiet though so after short fight with wife, I won. Total power consumption ~3-5 kW
- adamhp 5y agoI ask this passing no value judgment myself: how do you feel about the ethics of crypto mining?
- imhoguy 5y agoI think crypto mining can be ethically and ecologically balanced: - in summer make sure to use solar power, and pump waste heat into pool or hot water tank - in winter just heat your house, even better if you utilise co2 emission free source - autumn/spring - mix both Recuperation of crypto mining waste heat can be a real household saving.
- Trias11 5y agoCrypto mining is solving math equations. Just like AI. Lots of fud aroud this is spread by entities who has way more commercial interest than "doing good". I have absolutely no reservations about it. I'm all for making energy sources more efficient and green and whatnot.
- ctvo 5y agoSay a possible way to extract gold is to run a hose outside your window and let it wash away the dirt. Sometimes flakes of gold are found after enough dirt has washed away. It's true that many other people use water in other ways. I'm sure industry uses a lot of water. Are you comfortable with this approach yourself?
- deleted 5y ago[deleted]
- djshah 5y agoWhere are you based that it allows you to generate this profit? These days, it’s pretty hard to get hands on crypto mining hardware as well!
- Trias11 5y agoThe are sites that pre-estimate your profits given specific hardware. GPU's are hard to get indeed - but everyone has it's own ways. If you're willing to pay 50-100% above retail - you can get powerful GPU's from eBay at any time.
- kleer001 5y agoabout 250$ / mo mining crypto on the home machine
- randomopining 5y agoHow? That's like $8 a day. Can a 3080 even do that?
- tldrthelaw 5y agoyes
- kleer001 5y agoI've got two cards, a beefy one that only does crypto all the time and an older one that does display and crypto at night. The biggest learning bump has been temperature and air flow control. But winter's coming so that should be pretty easy.