There are so many ways to start earning passive income. Today it can be hard to decipher between what is a scam and what is real. With so many mixed reviews of things it can make everything seem bad.
After many different searches, i came across crypto currencies. I had knows a little bit about Bitcoin since 2012 but never really got into it or researched it.
But this time with the huge market increase it for sure got my attention. I contiplated investing into it and hoping the market will rise just like you do with any stock or investment.
But i decided i didn't want to risk that big of a loss if something were to happen to the market. Atleast i couldn't justify buying in at this high of a peak.
About a week later after seeing the market increase i found an article talking about crypto currency mining and the pros vs cons of it.
After a bit of digging i found thousands and thousands of people saying there is no profit after cost etc...
So i decided to talk to some people who were mining crypto currencies, looked at their start up costs, roi, expences, and profit.
I then decided this was for me. It seemed to easy and to good to be true.
So i went the cheap route, just incase i failed i wouldn't be out of money.
I found a computer on craigslist for $60. Bought it. Got home set up the mining software, and let it run for a month so i could get some base numbers.
The first month i made $80 and my electricity bill increased by $11. I was impressed. I got my money back. Covered the electricity differance and made profit.
So since then i have went and purchased 3 new graphics cards to increase my earnings.
I now am running 4 graphics cards.
They have another month and i will have my return on invest paid off. And start making profit. I am very impressed at the passive income that doing this can generate.
Do not listed to all of the negative people. Find someone who actually does it and talk to them. More then likely, you can succeed just like them.
So mining can still be done on the cheap? I had heard it was expensive also. Good to hear from someone on this topic, I will have to look in to this more.
Really harpy for you and what a great story
Thank you. I hope to continue to increase my earnings.
what were you mining with the cheap PC?
I was using nicehash mining software. At the time hashrate and profit were at an all time high. Since then profitability and hashrate has gotten harder. It has a lot to do with more and more people starting to mine. And with all of the changes bitcoin is going through right now.
I see, so basically you think now it will not work anymore with a cheap PC?
No it will just depends what graphics card or what processor is in the cheap pc you get.
but the GPU is exactly what is normally bringing the price to the moon :)