BangkokBoyJohnny Posted February 20, 2021 Share Posted February 20, 2021 So here's the plan, for my son's 14 birthday we're gonna do some Crypto mining : I was gonna buy a solar setup a while back but just put it on the back burner. I'm thinking I'll go for a 2 panel system (simply cos of aesthetics) My son has dabbled with mining on his gaming PC on a GTX1070 using Nicehash miner for Bitcoins. I'm waiting for the quote on the solar, 2 panels and a Inverter. Has anyone bought recently some GPUs and or an already configured setup/ rig ? Although this would be a good project to build ourselves I'm sure there would be a few too many hurdles ! Ps Yeh I know it might not be profitable but with free (4 year ROI investment on Solar) Electricity it might be worth it.... All help greatly appreciated ! Link to comment Share on other sites More sharing options...
ChaiyaTH Posted February 20, 2021 Share Posted February 20, 2021 (edited) That is a silly idea and a waste of both money and time. For starters because PoW (Proof of Work) was an old and inefficient way of doing things, by now mostly the future will be on PoS (Proof of Stake). To make things understandable: mining is not the future anymore. If you actually wanna teach your kid something, start playing around with Arduino and how solar or electric works in general. A base kit on Lazada is only around 1500-2000 baht. Check https://www.arduino.cc/. Can even make remote controlled cars with it and stuff, very fun. What can you do then? Start a node online, and if that is too technical, do not even bother at all. Just buy some alt coins for him to keep 10 years, could be plenty. In any case, you would earn more buying crypto than mining it in the way you want to do it. If you think it is still worth it because of the cool experience, a No too. You could do that as well with your existing PC. In terms of preparing your son for a bright future? Teach him Arduino again, the future of this world is to know to program or be programmed (most people live programmed lives today already, you might get that as an expat - ''the matrix is real'' - quantum secrets... ). Can not get let the idea go of doing something hi-tech combined with solar? Buy a raspberry pi instead, hook that up, and do something like FileCoin instead (getting paid by hosting data). Also take a look at satang.com, they have nodes and a crypto currency in Thailand. If your son likes above, and gets going with it now, he will earn at least 5000 dollars a month by the time he is 24. No uni needed. Edited February 20, 2021 by ChaiyaTH 1 Link to comment Share on other sites More sharing options...
Crossy Posted February 20, 2021 Share Posted February 20, 2021 I too don't think it's practical, but let's run some numbers anyway. A couple of 340W panels operated grid-tie will generate about 2-2.5 kWh per day. If your miner runs 24/7 that's an average of about 83W available for it! A half decent mining rig would be running nearer 1,500W (and swallowing 36 kWh per day). Better to forget the mining and just take the 10-12 Baht per day reduction in your power bill ???? 1 Link to comment Share on other sites More sharing options...
BangkokBoyJohnny Posted February 21, 2021 Author Share Posted February 21, 2021 11 hours ago, ChaiyaTH said: That is a silly idea and a waste of both money and time. For starters because PoW (Proof of Work) was an old and inefficient way of doing things, by now mostly the future will be on PoS (Proof of Stake). To make things understandable: mining is not the future anymore. If you actually wanna teach your kid something, start playing around with Arduino and how solar or electric works in general. A base kit on Lazada is only around 1500-2000 baht. Check https://www.arduino.cc/. Can even make remote controlled cars with it and stuff, very fun. What can you do then? Start a node online, and if that is too technical, do not even bother at all. Just buy some alt coins for him to keep 10 years, could be plenty. In any case, you would earn more buying crypto than mining it in the way you want to do it. If you think it is still worth it because of the cool experience, a No too. You could do that as well with your existing PC. In terms of preparing your son for a bright future? Teach him Arduino again, the future of this world is to know to program or be programmed (most people live programmed lives today already, you might get that as an expat - ''the matrix is real'' - quantum secrets... ). Can not get let the idea go of doing something hi-tech combined with solar? Buy a raspberry pi instead, hook that up, and do something like FileCoin instead (getting paid by hosting data). Also take a look at satang.com, they have nodes and a crypto currency in Thailand. If your son likes above, and gets going with it now, he will earn at least 5000 dollars a month by the time he is 24. No uni needed. Thanks for your thoughts, He's got Arduino thanks but 2 years ago had issues on his Macbook so I think we'll revisit as he's more Windows and Android nowadays, his other Projects are learning Python, started already, has an eToro account and is doing some trading with 10,000thb, just starting good old MS Project to keep track of the projects.... Oh and Gaming ! Link to comment Share on other sites More sharing options...
BangkokBoyJohnny Posted February 21, 2021 Author Share Posted February 21, 2021 4 minutes ago, BangkokBoyJohnny said: Thanks for your thoughts, He's got Arduino thanks but 2 years ago had issues on his Macbook so I think we'll revisit as he's more Windows and Android nowadays, his other Projects are learning Python, started already, has an eToro account and is doing some trading with 10,000thb, just starting good old MS Project to keep track of the projects.... Oh and Gaming ! Will look into : Buy a raspberry pi instead, hook that up, and do something like FileCoin instead (getting paid by hosting data). Also take a look at satang.com, they have nodes and a crypto currency in Thailand Ps The solar will help with the pool pump and washing machines and ROI 4 years so no big deal.... Link to comment Share on other sites More sharing options...
BangkokBoyJohnny Posted February 21, 2021 Author Share Posted February 21, 2021 13 hours ago, Crossy said: I too don't think it's practical, but let's run some numbers anyway. A couple of 340W panels operated grid-tie will generate about 2-2.5 kWh per day. If your miner runs 24/7 that's an average of about 83W available for it! A half decent mining rig would be running nearer 1,500W (and swallowing 36 kWh per day). Better to forget the mining and just take the 10-12 Baht per day reduction in your power bill ???? We're looking at buying one graphics card this week to start, 25k thb for a RTX3080 to plug into my son's existing gaming PC, that earns 300thb to 400thb per day I'm informed... and I'm informed Nicehash profitability calculator is still looking good ! Yeh not much detail but I know ! Link to comment Share on other sites More sharing options...
BangkokBoyJohnny Posted February 21, 2021 Author Share Posted February 21, 2021 16 hours ago, Crossy said: I too don't think it's practical, but let's run some numbers anyway. A couple of 340W panels operated grid-tie will generate about 2-2.5 kWh per day. If your miner runs 24/7 that's an average of about 83W available for it! A half decent mining rig would be running nearer 1,500W (and swallowing 36 kWh per day). Better to forget the mining and just take the 10-12 Baht per day reduction in your power bill ???? 5555 Noted thanks ! Link to comment Share on other sites More sharing options...
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