How Big Is Crpyto Mining Getting? Companies Are Renting Airplanes For Delivery Of Their Graphic Cards
Nothing says successful business like renting an airplane. This article talks about mining and how companies are getting their GPUs from 747s as they need them on time. It is not just about volume but how fast the cards get to the company. Other means of transportation are not as fast as air travel and this can cost the company money. How much money? Well apparently enough that it is worth renting a plane.
This is not the first article I have seen about graphic cards. There were ones about companies like AMD seeing an increase in their stock value because of sales and articles about gamers being unhappy that they cannot get the graphic cards they want for their computer rig (plus I am sure price is going up). This is a clear example of how big mining and thus crpyto is getting. I always wanted to try mining. I wanted to set up and rig and let it do its thing, but I am starting to think it will not be worth the cost of setup as competition is getting steep. But I still might for some alt coins.
Does anyone mine? Are you finding it profitable?
Here is the link for more info:
https://www.theinquirer.net/inquirer/news/3014813/cryptocurrency-miners-are-hiring-boeing-747s-to-deliver-gpus
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
The truth is that even when it was very profitable to mine, it would often have been more profitable to buy the coins at the speculative, low price and hold anyway. You could have bought a ton of bitcoin with the 2010-2012 prices instead of setting up mining rigs.
You can find calculators online to determine the most profitable coin to mine at any time, but since everyone is looking for that, it changes a lot and you have to manage a lot of different wallets and software. It's probably not a good use of time unless you are already familiar with some of the processes.
It can certainly be profitable though.
Crazy, thanks for the interesting info!
Thanks for Share!
very interesting
@rizal
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The Best Miner to use right now is the Antminer L3+. It is the most powerful for its size and uses the least electricity. You can mine over 82 Lite Coins per month by setting up 4 of those miners. They have a hashing power of 504 mh/s each and only use 800w of power. Very efficient and powerful machines. Cryptocurrency mining is my latest business venture to create another income stream. Another great thing is that you do not have to pay taxes until you cash out on the coins and the miners are tax write offs.
Sighs I don't even have money for powerful rig for gaming but there are companies renting planes for. It's hard to get my mind around the fact that they can rent planes to stay and stay in profit. Only shows how profitable the mining is if done right.
As for intel and amd ( I hear amd is preferred over intel for mining ) they aren't happy with miners either taking all the gpu's there are. AMD will be releasing new GPU with bundles to help the consumers for gaming rig.
I am mining, ethereum droped twice but is still profitable, if it is not profitable then no miners, nobody to check transactions, idk if the system can work then.
Genesis mining has way too much money...
Its a profitable business.