Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: bosshyip on July 14, 2018, 07:12:31 AM
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Basically, I've pitched the idea of investing into Bitcoin mining to my friend. He would provide the capital to build the PC, and I'd do everything else from there.
I'm thinking of loaning around £500-600 from him, and then building a rig and either...
a) Paying him back a fixed amount, I'm not sure how much is a reasonable about, £700/£750?
b) Giving him a percentage of the income from day 1, say 40 to 60%, again, i'm not sure how much is reasonable.
I would be paying the electricity costs and everything too, so paying him back a percentage of the income would need to take this into consideration.
Anyone have any suggestions?
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Basically, I've pitched the idea of investing into Bitcoin mining to my friend. He would provide the capital to build the PC, and I'd do everything else from there.
I'm thinking of loaning around £500-600 from him, and then building a rig and either...
a) Paying him back a fixed amount, I'm not sure how much is a reasonable about, £700/£750?
b) Giving him a percentage of the income from day 1, say 40 to 60%, again, i'm not sure how much is reasonable.
I would be paying the electricity costs and everything too, so paying him back a percentage of the income would need to take this into consideration.
Anyone have any suggestions?
In my own opinion, i think buying expensive mining rig is not a good idea because the amount we earn through mining is too small and can't compensate the amount of capital invested.
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Why not just buy one of these cryptomining machines? https://www.asicminervalue.com/miners/innosilicon/a9-zmaster Around $80 USD a day in profit, big upfront cost for this one but easily worth it. There are cheaper options that might do better than what a built PC can do, though. I'd suggest looking into it before deciding.
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Surely the return is dependent on what your friend is expecting. It's not an unknown investor, guessing he/she is not knowledgeable about cryptocurrency, but wants to get involved. A 50/50 split on profits after all initial and ongoing costs seems reasonable. You couldn't do it without his initial investment, so he is taking the risk at the beginning. That way you should both walk away happy.
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i think mining is really risky nowadays. If it was early 2017s yes I say it was really profitable but right now a huge investment for mining can end up loosing your money.
invest that money to btc..
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Basically, I've pitched the idea of investing into Bitcoin mining to my friend. He would provide the capital to build the PC, and I'd do everything else from there.
I'm thinking of loaning around £500-600 from him, and then building a rig and either...
a) Paying him back a fixed amount, I'm not sure how much is a reasonable about, £700/£750?
b) Giving him a percentage of the income from day 1, say 40 to 60%, again, i'm not sure how much is reasonable.
I would be paying the electricity costs and everything too, so paying him back a percentage of the income would need to take this into consideration.
Anyone have any suggestions?
If he's floating all of the risk, I would give him more than you.. its easy maintaining properly built equipment and can be monitored with little to no effort. Get him paid off first, because if he has capital to spend and you give it back to him quickly if successful, he'll be more likley to fund bigger projects in the future.
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Mining is too expensive and a bit risky. I will advice you look into another crypto investment like trading which is also risky but using arbitrage is more profitable. A 60 : 40 split is fair since you have borrowed to pay back whether there is a loss or profit
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Home mining is now unprofitable.I don't see the point in building a farm.We need to wait for the market to grow to say for sure
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How has this turned up for you so far? It would be interesting to know what happened with your plan.
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You must know that mining is very difficult now. Some people buy mining equipment at very expensive prices and they have sold them for this reason. In my opinion, buying mining equipment is not a good idea at this time. So, it's better to think about 2x before you actually buy mining equipment.
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maybe You couldn't do it without initial investment, so taking the risk at the beginning. That way you should both walk away happy.
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@Munareal, that's right. Besides being expensive and risky, mining from this house will not profit. The price of coins dropped to the lowest level, so it's better to mine after the price is more friendly.
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You must know that mining is very difficult now. Some people buy mining equipment at very expensive prices and they have sold them for this reason. In my opinion, buying mining equipment is not a good idea at this time. So, it's better to think about 2x before you actually buy mining equipment.
Now the complexity of the production of many coins has increased, and the value of the coin has fallen.The price of equipment has just started to decline, so now is not the best time for mining.
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well ist looj interesting i want to know your plan next cause maybe i will start mining 1 day
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Before you actually buy a mining tool, you better read a review or experience of people about mining. I think mining is not a good solution at this time because prices are falling sharply. In addition, electricity supply for mining is very expensive. So think again if you want to buy tools and share the results with your friends.