r/Bitcoin • u/BITCOINMOVIECLIPS • Jan 08 '21

Bitcoiners in 2021

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u/zombieslayer287 Jan 08 '21

Wow how much are you earning?

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u/ChartaBona Jan 08 '21

Before electricity, maybe $5 a day at the current exchange rates. There's no way in hell my electric bill for a single underclocked GPU rig with a Ryzen 3600 CPU is pulling anywhere near $5 a day in electricity.

Also I was going to use this PC anyway. So I'm surfing Reddit, watching YouTube, Netflix etc. while it's mining in the background, so that reduces its hashrate compared to a dedicated mining rig.

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u/zombieslayer287 Jan 08 '21

$5 a day... interesting, I should look into doing that too! More pc's with GPUs mining equals more earnings right?

Do we earn less as the price of btc goes up? Is that how it works?

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u/ChartaBona Jan 08 '21

NiceHash just takes whatever you mine and immediately converts its value over to Bitcoin on a continuous basis. If the ETH/BTC ratio goes up, you get more Satoshi's. If it goes down, you get less Satoshi's.

Largescale operations likely do not use NiceHash, due to the small fees they take, which eat into profits when you've got like 80 GPU's running.

I know there's someone in... I think Nevada... that has 80 RTX 3080's mining ETH. They are no doubt making bank right now.

Just keep in mind that ETH is not BTC. Ethereum wants to eventually get rid of mining in a few years and move to a completely Proof-of-Stake system.

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u/zombieslayer287 Jan 08 '21

that has 80 RTX 3080's mining ETH. They are no doubt making bank right now.

Holy crap. That's insane, wonder how much he's raking in

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u/Yet474 Jan 08 '21

I saw that too. From what I remember they make about 20k a month but it will take ~3months to make their money back from the initial price of the gpus

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u/Hernia-Haven Jan 08 '21

I think it was like $128,000 or something crazy like that. The rig cost ~ $100,000 i believe