Article by CEO_DELUXE.
Our article this week on answering readers’ burning questions on Bitcoin attracted a lot of interest and more questions which will be posted in a future article. But one reader’s letter to me particularly caught my attention. While my ‘Dummies’ guide to Bitcoin’ article covered a lot of areas, I danced over the mining of crypto. However, this is a world where you can make money if you’re willing to invest the capital in powerful cryptocurrency mining hardware. Andrew Crawford, in the below mailbox piece, outlines how he is on course to earn R50,000 this month from mining a cryptocurrency called ‘Dash’. Among the over 900 estimated cryptocurrencies in the world today, Dash – like Bitcoin – also works on a blockchain, but it touts having advanced capabilities such as instant and private transactions and decentralised governance. As Andrew outlines below, the price of Dash has shot up from around $94 to $300, dramatically reducing the period on his expected return on investment on a $5,800 Baikal 1.2 Gh Dash mining kit much shorter. So, fast is the pace of development in this space that this particular Baikal kit is now selling for $2,200 amid upgraded models. But this gives one an idea of what’s involved. – Gareth van Zyl
This year I decided to initially buy a Baikal 1.2 Gh Dash mine (price is now $2 200 but it previously cost $5 800). Cryptocurrency Dash was at $94 and the Rand exchange rate $13. Dash hit $300 in the last week so my 6 month projected Return on Investment (RoI) is now considerably shorter. At 300 watts the electricity is less than R300 pm for this Baikal processor. In a world where a share with a PE of 14 and dividend yield of 4% is good this RoI seems too good to be true. However, it’s working?!? Last week I also took delivery of 5 Antminer L3+ mines. Again the projected payouts are beating projections and these should earn me $3,780 this month (R50,000). My costs are R5,250 pm. I’m earning in $ and paying costs in Rands.
Of course the price you pay to import these processors and their efficiency with regard to electricity is key. I found the guys at Browntoast.co.za to be the most cost effective and efficient suppliers, and they help pick the most efficient processors. Setting up a mine / processor is beyond the average person but I think this was the least risky way for me to get into the unstoppable blockchain technology developments.
This article you will find here about how to earn cryptocurrency is mainly aimed at helping you to earn a little bit of extra pocket money in Bitcoin or other cryptocurrencies rather than a full-time wage. They provide easy and fun ways that anybody can get started in crypto by earning their first coins, or supplement their regular income whilst getting involved with this exciting financial revolution.
Kindly share,like and subscribe for more.
This year I decided to initially buy a Baikal 1.2 Gh Dash mine (price is now $2 200 but it previously cost $5 800). Cryptocurrency Dash was at $94 and the Rand exchange rate $13. Dash hit $300 in the last week so my 6 month projected Return on Investment (RoI) is now considerably shorter. At 300 watts the electricity is less than R300 pm for this Baikal processor. In a world where a share with a PE of 14 and dividend yield of 4% is good this RoI seems too good to be true. However, it’s working?!? Last week I also took delivery of 5 Antminer L3+ mines. Again the projected payouts are beating projections and these should earn me $3,780 this month (R50,000). My costs are R5,250 pm. I’m earning in $ and paying costs in Rands.
Of course the price you pay to import these processors and their efficiency with regard to electricity is key. I found the guys at Browntoast.co.za to be the most cost effective and efficient suppliers, and they help pick the most efficient processors. Setting up a mine / processor is beyond the average person but I think this was the least risky way for me to get into the unstoppable blockchain technology developments.
This article you will find here about how to earn cryptocurrency is mainly aimed at helping you to earn a little bit of extra pocket money in Bitcoin or other cryptocurrencies rather than a full-time wage. They provide easy and fun ways that anybody can get started in crypto by earning their first coins, or supplement their regular income whilst getting involved with this exciting financial revolution.
Kindly share,like and subscribe for more.
CEO_DELUXE
