My One Month Bitcoin Mining Journey

A few weeks ago I made a video where I triedmining bitcoin for a few weeks and was truthfully really absolutely mind blow and very much sointrigued by the potential of this business Well in this video were gonna go over afew things I missed in that video, where Im at a month later, were gonna talk aboutme buying tens of thousands of dollars of the wrong kind of equipment, bitcoin pricedropping by like half after I already bought the wrong equipment and so much more Ok quick recap I must be established this bad miningrig a few weeks ago, rate me a total of fifteen thousand seven hundred seventy four dollars, at that point the price of bitcoin was dancing really having a good time in the fifty six fiftyseven thousand dollar assortment So under those conditions in the video I saidthe rig was making around sixty to eighty five dollars per day and would compensate itselfof in around two hundred eras That’s where we left off in the last video, but after some more optimization and over COOKING of the GPUs I witnessed the rig thumped numbersas high as one hundred eighty nine dollars per day I mean life was good I succession parts to completelybuild a second and more powerful rig, I figured this was it were making it out the scarf, me and Drizzy were Here I was doing my part to decentralize thebitcoin system , I was the ruler to oust Satoshi the glue containing the bitcoin shipafloat I even called Susan put in my 2 weeks noticebut shortly after uploading the video a few cases fractures started have appeared in my contrive and soon my action to the Lambo dealership, Im replying and learning through the comments under thevideo start to realize that the Nvidia thirty ninety GPUs I bought for the rig werentideal for mining The graphic cards aka GPUs are the most expensivepart of the build and are whats responsible for the mining and now you guys are in thecomments saying that the different types lead GPUs I got are really not the most cost efficient formining theyre loud and parties generally don’t recommend them for mining determinations I had to make sure I was being trolled soI checked in with one of the bitcoin benefactors Richard and sure as shooting he said the same thing, I shouldve been buying thirty eighties which are a lot more efficient Thing is tho I really wish I knew that beforeI now this is isnt the end of the world, although these arent ideal for mining and they hum moderately loud, they are very powerfulGPUs so six of these monsters on one rig who knows how much its is about to be starting per period, all the personas for this rig have now come in so we’re gonna find that out BUT The even more pressing issue here is the priceof bitcoin, in the last video I mentioned Yeah its not moderately uhh I’m still long bitcoinmy actual bitcoin and Ethereum regards I’m not selling cuz approximately the full amount isunrealized incomes so if I do sell Im gonna have to hand over half it too mr government which at this level i’d rather watch my bitcoinposition extend go down to zero then sell it, pay half of that fund in taxes, and thenwatch inflation eat up the rest of it as they hinder publishing more fund The tax system kinda thrust the diamond handsmindset on me and I actually do really believe in bitcoin long term so Im not sellingbut what does this new price of the sorcery orange internet silver mean for the mining busines Well I experienced the the profitability of the minedip as low-pitched as I fantasize around twenty nine dollars per day at which point it would make likefive hundred daytimes for this machine to pay itself off, which kind of hurt That’s definitely not as vibey as having itpay itself off in like a few months but I did some more thinking and you know what eventhen, imagine an investment that can give you a one hundred percent return in undertwo years thats absurd, fifty percent per year returns and when I think about it likethat I dont feel as bad Now it was procreating twenty nine per epoch at itslowest, currently its around forty five dollars per day so merely under a year for it too payoff at this cost which rackets penalize to me and who knows where the cost of bitcoin isgonna going to be home a few months I got my electricity bill, it merely had oneweek of mining on it so I didnt get the full picture but that one week didnt makethe greenback anything crazy so the energy expenses arent bad and Im gonna keep thisrunning as long as the rigging deals the electricity bill Let’s say I mine ten bitcoin over the nextthree years, the price of bitcoin for those three years is fifteen thousand so i’m justabout smashing even during those three years, but let’s say on the fourth time the priceof bitcoin leaps to a hundred thousand well then the ten bitcoin I previously mined is nowworth a lot more So the price of bitcoin doesnt matter tome short term as long I believes in it long term , now if that changes and I no longerbelieve in bitcoin and am cashing out everything I quarry then the premium fluctuations would affectme a lot more So i’m not mining dollars im quarrying a setamount of bitcoin per period, i’m just utilize dollars to measure it, hope that was decentexplanation but thats my prospect and belief behind continuing mining and that said let’ssetup this new absolute unit giga chad of a rig with all these thirty nineties and seehow much its gonna be making and break those crowds down Now that this was my second duration doing it, the build process was pretty smooth and honestly very enjoyable, first up you suggest togetherthe frame of the rig Then you clamped the motherboard into placeusing a few cases special rods On to the motherboard you residence the CPU andthen on top of that you gave a CPU fan to keep it cool Then you pop in a duet ram lodges, you couldget away with one but the pack I bought had two Up next is your SSD you connect that to themotherboard as well as to your superpower block and then you too have to connect the motherboarditself to the power block, Im using two blocks cuz I need the additional influence so I useda splitter to connect bofa dem Then you use a riser to connect your gpu tothe motherboard and then likewise plug that into the power block, plug a wifi adapter in, keyboardmouse and you are named Final step you plug the substitution and try topower it on Then you nip the motherboard designates formining, install windows which I guess you dont even need to pirate anymore, I justdownloaded it off statutes website onto a USB and installed it without a produce key Formerly youre in you download some Nvidiasoftware to recognize the GPUs and once I received that everything was running smoothly Ithen I plugged in the rest of the five thirty ninety graphic cards, modernized openings, reinstalledthe Nvidia software and boom all of them were working At that site I download MSI Afterburner toovercook the GPUs make sure theyre circulate efficiently and to their full possible andthen I downloaded delightful hash, pressed continue and we were up and running Thats the quite and aesthetic versionof how things travelled, there were a few steps where I had to troubleshoot and get jiggywith the wiring and what not but that only gives you an idea of how the build processis Now again Im mining through delightful hash whichis the simplest way to do it but Im not endorsing them by any means, there are a fewconcerns with it First off one of the founders, well camhim M-Treezy for short, was convicted and acted confinement hour for creating a massive, oneof the largest malware viruses back in the day and now I am downloading his programon to my computer and passing it twenty four seven, a little sus But hey beings do vary and ever since theman acted his sentence he hasnt really done anything foul with neat hash that anyoneknows of, so no reason not to trust the services offered but to be on the safe side I am only gonnause the computers I building and strengthening for mining, exclusively for mining, and I wont be logging intoanything on them Im also not gonna let too much of the bitcoinI mine sit on the website, ill be regularly displacing it over into my purses, mostlyoffline to a record Im gonna setup exclusively for this but also maybe some digital walletsand I think that should pretty much wholly solve that concern But then other issue is that nice hash isnot at all the most efficient way extremely mine, a good deal of you guys were saying I could makea lot more if I swopped over to other forms of mining so I clearly wanna do that, Ihad someone saying I can reach ten to twenty percentage more which is pretty substantial Only issue is, those forms of mining are notas simple to setup and use and Ive merely had a busy couple months right now so I haventhad the chance to sit down and figure all that out and Im likewise just somewhat scaredto turn the rigs off precisely cuz they only somewhat a agony to get wreaking and for the computerto register the GPUs correctly and everything but switching over from neat hash is definitelyon my to do directory and Im probably also gonna explore mining silvers other than bitcoin whichcould boost advantages even higher A batch of you guys were saying I should mineethereum but i think im gonna mine something with more serious fundamentals such as DeezNutscoin or Doge coin Now now we are in my bosss electrical vehicleto talk about electricity Im no greta thunberg but I do heavily rock with quality so gettingsome renewable energy to ability these rigs and future riggings is something I definitelywanna pursue I’m not gonna build a windmill in my backyardand Im not sure yet but probably wont further develop a new dam on my street eitherbut positioning some solar panels on the roof could be a great move And on some strictly off the record talk, keemstar if youre watching this look away but Im not just being a great guy and savingthe earth, truth to tell you something I genuinely dont like newspaper straws, and going solar would actuallycut down my energy costs long term, after the panels are paid off its free electricityfrom the sunlight to capability the riggings Saving the earth AND cutting energy costsabsolutely hammering two babe rabbits with one stone now, hahaha Greta i’m sorry pleasedont click apart I need the watch time to buy the solar panels Anyways welcome to my subterranean nest whereI will be performing a fifty one percent hack on bitcoin after which I will give my subscribersfifty billion dollars worth of bitcoin each so delight sub But both riggings are currently running, it actuallytakes a lot of wattage to run these so I usually has not been able to be able to have them running inthe same place like this, the ability would give out but I used to grow illegal substances in thislair so I had special wall sockets installed to power all the daybreaks and now im using thoseto power the riggings so that worked out delicately nah Im kidding I had an electrician overto install a special wall socket to bill my bosss Tesla and while he was here Ihad him swing by the underground secret lair to install a socket that can handle extrapower So that’s why thats why those are able torun side by side like that but now let’s talk crowds this new rig cost me eighteen thousandseven hundred thirty seven dollars so I now have a total of 30 four thousand investedinto this mining operation currently with all the GPUs lay andstill mining through delightful hash they are pulling in a bit over a hundred dollars per dayand at this frequency would pay themselves off in around three hundred eras but if the price of bitcoin goes back to whatit was just a couple weeks ago where merely one less strong rigging was doing one fortypretty steadily then two rigs one of them path most powerful, and especially if I switch over from neat hash, they could very realistically be pullingin like three hundred dollars per day making this a six digit per year operation, againif the toll goes up to that recent high So Im merely trynna must be respected towardsthe gush truly hope that the price does go up andIm too working on a partnership with an organization that may be able to provide mewith mining rig at retail prices which would increase profits like crazy, if thatworks out Im gonna continue built up this action but that’s it for now hopeyou guys experienced this video and have an amazing rest of your period PEACE

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