Word of the day “Free” - Mining Crypto Is Free Money!

d00k13 (75)in #cryptocurrency • 6 years ago

I went to the vape shop again to pickup some free E-Juice and ended up convincing the business owner to look further into crypto mining. I have a ton of loyalty points, I use these points to try new flavours as who wants to put money down on something they may not like. Crypto mining was the same for me. Until I had tested the waters with free equipment I did not feel comfortable putting money down on equipment.

I can now say I have broken even with my investment but if you account for my activity on Steemit also then I am way ahead. Looking just at mining rewards for my single GTX 1050TI I was making almost $20 a week during the high and now at around $9-10. Yea its massively overclocked and only working on the most efficient algorithms within Nicehash but it is still paying for itself in BTC. From there I put my rewards into STEEM or STEEM Power delegations some of which has gone to @OneLoveDTube. Some has also gone into account creation for our community curation accounts and furthermore accounts for friends in an attempt to help onboard new users.

I dove into the subject of mining when the owner stated “our points program is like free money for all those loyal enough to make their way out here” I replied “free non existent money like crypto?” The owner mentioned he had been researching crypto, he had that gut feeling about it but was having a hard time getting through the mess of disinformation! I replied “you need to join my crypto loyalty program for all those willing to listen to me” he replied “free money?” we laughed.

I pulled out my phone and showed him my rigs desktop and how easy NiceHash is to use, explaining I do everything KISS. Explained the mining rewards, algorithms, expenses, ROI. Most importantly I expressed if this is something you are interested in doing decide before you start, hobby or enthusiast? Different lines of attack depending on if you want to keep the door open for further expansions or just get what you can with what you have.

Sounds like I have a partner in crime and this dude has some cash to throw around unlike me! He has a GTX 1060 just collecting dust as he said “I work to much to play games anymore” and he wants to go for coffee so we may talk further! He implied starting off just getting his feet wet before he goes for the full cannon ball, exactly how I started using what I had with some free parts. He started talking investment costs in the thousands..... woah hold up I’m only hundreds in I was thinking..... I told him using his home pc with the one card will be perfect to get his feet wet but when it comes to more then one card I am past my experience.

He simply asked “if you had the money would you do it?” I didn’t even let him finish his sentence before stating “in a onelove heartbeat!” He then asked “can you do it?” I am pretty certain I could, it’s just the riser cards and a custom housing I have not played with but how difficult could that be? After a little back and forth about the steps needed for a maximized ROI on a dedicated rig, estimations of cost, time needed, he asked if I would be interested in helping him. I grabbed his business card and wrote my digits down for him, I said “let’s get your feet wet first!” That is something I know I can help with.

This is very intriguing yet concerning. I have the opportunity to possibly start a partnership where he only really cares about the return and is interested in learning leaving me to do the leg work and share in the returns. I started in crypto mining because of my interest in the technology and that evolved into my support of the network whether or not it’s “profitable”. With this partnership I would need to be certain to maximize returns not just keeping it stupidly simple for my own benefit. Going with higher end equipment will ensure longevity but at the expense of a longer ROI so it’s a fine balancing act to maximize the investment.

Will I do it? Of course I will! If I had the money I would have done it already. I will however be certain to constantly remind him that I am no expert and that I am still learning myself. This may be my only opportunity to expand further into the crypto field with such a financial backer, maybe he will gain trust in what I am doing and follow my lead with investments into STEEM! Maybe I can convince him to back my projects on Steemit? Maybe I onboard a whale only to have influence on his blockchain interactions?