It's Only Going To Get Harder (The Crypto World)
Today I want to focus on a new passion of mine and honestly what should have remained a passion of mine when I started back in 2011 and that's the passion of mining bitcoin.
At the time I admit I really didn't understand it. At first my thoughts were it was a way to give someone access to my computers processing to render things like video etc as that was a new found ground that was starting up just a year or two prior so to me it kind of made sense.
It's easy now to pretty much go up to anyone and they just know what it is and in general how it works but back in 2011 the landscape was small, there was little information and there was a lot of random trial and error that you just had to figure out for yourself.
From those days I continued to mine and luckly I had 2 r9 290x's which where pretty new video cards at the time that pumped out some ugly heat. Luckly for me though heat was something my house needed living up north lol so it was a win, win a perfect story to say.
But I started to fall out of love with it for a few reasons. This was the time in my life when I was joining a brand new start up and I still didn't fully grasp or understand what this bitcoin thing was. I had a bit of a better idea that I was no longer trading in my processing for someone to use for video rendering lol and honestly that kind of turned me off it at at the time.
This also is when ASIC chips started to come out in which you almost had to have a ASIC chip on a thumb drive in order to compete otherwise you were just burning through power. Now remember back then bitcoin was $500 or less so your profits per day were nothing compared to that same amount of bitcoin today.
Thus I feel more and more out of love with the mining aspect of it and instead started to invest dollars to crypto (which again was extremely hard at the time as banks were not allowing you to do it or would close your account if they caught you doing it) But those dollars earned that I could from the start up got invested into Ethereum at $13 on average and a little bit into Bitcoin.
Fast forward to today and most of my last few years have honestly been spent on other projects. For example the hive blockchain being one of them. While great there hasn't been a big rush for a while now in terms of profits from or the fruit of my labor and so I decided to start going back to some of my roots that made me happy and what I've enjoyed doing and that's mining and being a lot more interactive in the critical parts of a blockchain. Nodes, mining rigs etc.
It's Only Going To Get Harder
I think the wake up call for me recently in the last month was realizing that It's only going to get harder. So instead of trying to wait for the right moment to get involved again I should just pull the trigger and get moving on things. You see running a hive node for example I'll most likely lose $USD money unless I can get in the top 80 nodes or better (BTW node is coming in the next few days) and with bitcoin unless you're running some huge shop with special power rates or getting the latest hardware first as a major company you're not going to make money mining bitcoin.
But then you start to think about it more and I think back to myself in 2011. It's still the same game you just have to figure out how to play it.
For me it goes like this for my first moves.
The first is to get a hive node up and running. Even though it most likely won't be profitable I still have more skin in the game and show my commitment to the hive blockchain so all these people that muted me for simply voicing my opinion on matters of the DHF etc can see I'm not all bark and have a lot of bite in what I do.
The second is that even though yes bitcoin mining is unprofitable there's actully a way it's very profitable and builds right into one of my goals over the next 5 years and that's getting 100+ acers of land with no restrictions and full rights on it. The goal here is to build my own solar, wind and even hydro power on the property and use it to mine, power my house and if possible sell extra back on to the grid. If there's no grid tie however that's perfectly fine and I'll just find some older hardware or buy some new hardware to run larger mining operations.
This to me feels like the next right move and the direction I want to move in my life. It wasn't until I realized that things are only going to get harder so why not act and do now instead of waiting. I feel like that's something many of us do. Is we wait and try and either time the right moment to take action (which often doesn't end well lol) or that time never comes and we die regretting never having acted. So here's me taking action as I pump up the mining grids, start expanding operations and start looking for a good plot of land to pick up.
Posted Using InLeo Alpha
I have also considered firing up a HIVE node. Do you know approximately what the monthly costs would be?
Anywhere from $40 - $70/monthly. Unless you run it out of your own system but it most likely should be not your main computer so you'd be looking at around a $400-$600 mini computer with solid internet connection.
Hi, @bitcoinflood,
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