anyone else on that crypto grind? my boss found out I have a background in crypto related things so he shoved me into a new department to invest some small amounts of money on the side, to see how it works.
don't have the capital to built the grinder. also don't have experience to build one. also never really buy the bitcoin but interested in it.
You should tell your boss it's far to late in the game for this and unless he can invest enough money to create a supercomputer level amount of gpus and still only maybe make a small profit it's not worth it, at all.
The best way to make money on crypto is to ride the wave of speculation and just buy the currency while the bubble continues to grow. It'll burst sooner or later, but as long as you get out before everything goes to hell, you can see a huge return on your investment in a very short time. I bought a few BTC in 2015 when they were around $200. That $600 investment would now be worth over $24,000... if I hadn't sold it them when they were around $2000 per coin. The fixed cost of equipment and the recurring cost of power for a mining rig render most mining rigs unprofitable for popular cryptocurrencies. For less popular currencies, you can mine those and convert them to BTC, but it's still not a great cost proposition compared to just buying the equivalent value in BTC and sitting on it for a few months. Depending on the cost of power in your area, you can make wildly varying amounts. A rig with 8xGTX 1080 TIs, which are one of the better cost-to-performance GPUs, along with RAM, CPU, PSU, and mobo, would run you around $6.5-7k. You'd bring in around $30-40 per day mining ZCoin with a rig like that (minus your power and HVAC costs, so $15-25 per day, give or take). You're looking at a 1-2 year RoI. Also, don't forget that you'll eventually part out the rig and sell it, so that also cuts out a bit of the RoI. On a side note, I still can't believe BTC (and crypto in general) continues to climb in value. They can hardly be used for anything. It's hard to find anyone willing to actually exchange goods or services for BTC. It's like some kind of crazy investor circle-jerk. Investor A buys 1 BTC for $x. Investor B sees that someone purchased a BTC for x and decides it must be worth $x+2, so he offers investor A $x+1 for it. Investor A says, "Sure." Investor C see that someone bought BTC for x+1. He determiness that if someone bought it for $x+1, someone else must be willing to pay $x+3, so he offers Investor B $x+2. Investor A made a killing selling his last BTC, so he decides to get back in on the action and knows someone out there is willing to pay $x+4 for a BTC, so he offers investor C $x+3. 20 GOTO 10
If u've been given free reign 2 gamble with other peeps money, why not drop some money into Ethereum maybe, it's still accessible for small money and still has decently high upside potential; and probably better overall infrastructure and backing than Bitcoin. Bitcoin is pretty tough 2 get into now, it's also definitely overvalued given it's 'competitive advantages' are so meh to even normal currencies, and how there are so few barriers 2 entry in the long run, not 2 mention all the limitations it sets on itself. People talk like it's going 2 take over the world, but the system itself prevents that from happening. At best it can be considered a small-time alternative asset similar 2 gold, but a troll one since it's not real. However, history shows that it's bad 2 underestimate how long bubbles can last and grow. Usually once ordinary peeps start throwing their savings into the bubble, it's a signal that things are going absurd. But even then things can keep going up overall 1-2 years after that, and you can end up missing out tons. Thinking in terms of power laws, 1 year probably kinda safe, 2 year risky, 3+ super risky.