Cryptocurrencies

Cryptocurrency mining: my experience one year mining digital currencies

Just two months after completing a year of mining, I recap that cryptocurrency mining brought me.

It is no secret that all of us who work at HardwareSfera are in favor of cryptocurrency mining and technology that she brought with them, and as the girl who appears in etoro commercials on YouTube would say, cryptocurrencies are “the topic of the moment”, whether commercial or not, the truth is that she is not wrong.

My first approach to cryptocurrencies was in 2011 when browsing a technology forum looking for information on how to mine bitcoin I read something similar to this: “bitcoin mining is not profitable at all, don't waste your time and spoil your equipment with something that you it will make you spend more money than it generates ”, it goes without saying that as I regret following that advice, at least I would rather have the anecdote of spending 30 Bitcoins on a pizza.

My beginnings

In June 2017, without a job and with just 300 euros, I had to make a difficult decision, to borrow money from relatives to try to get a driving license ... TRY (for anyone who does not live here in Spain, try to obtain the driver's license or license is extremely expensive and difficult, sometimes spending up to a million euros or more without success) or betting on mining.

At the beginning of June I was able to collect, thanks to my family in Mexico, an amount close to 1,500.00 Euros, which was used to buy a modest computer with only two graphics cards, a GTX 1080 in June and a GTX 1070 in July.

I remember that at the end of June 2017 the Zcash (currency that I mined) had a value of 315 Dlls. And as soon as two weeks passed, its value plummeted to 150 dollars, all my fears seemed to come true, to think that the sacrifice of my family (and my bet) was being thrown down a toilet, doubts came to my head thousands and the advice I never miss Marco when he said "be patient, this is so, I've been watching these falls for years and everything will return to normal and rise, just be patient."

Constant as an ant, with my sights set on a target and without touching the account of my ZEC coins, as the weeks went by I managed to gather for something, whether it be to buy a more powerful power supply, one more riser, an access point or one more graph.

Over time the Zcash not only recovered its initial value of 315 Dlls. As predicted by Marco, it doubled its value and by the end of December 2017 its value exceeded 600 Dlls. I felt like rich Mcpato since at this time I already had four video cards and a new job.

The roller coaster of cryptocurrencies

Taking an estimate in flypool at that time, it said that it generated about 15 Dlls per day. daily, which amounts to about 378 euros a month, plus my salary, then came the collapse of January-February and the Zec It was close to 160 dollars, and Bitcoin fell from 19 thousand dollars (I think) to just under 7 thousand dollars.

From time to time one finds a detractor of mining (or cryptocurrencies), one of the arguments most used by these are: "Where is your Ferrari ?," That is a pure lie ", or the one that for me was the most difficult to refute (given the economic situation I was going through at that time), “I don't understand you, if I didn't have money, I would rather have that money (which I invested in the rig) or use it on something more important than spend it on something that it will make a profit in a year, I am hungry today ”.

A week ago this detractor (a very good friend of mine) while at his house we reviewed my purchase history on Amazon, more out of my simple curiosity than to prove anything, and when I least realized it, he had a list of items that were close to 1,200.00 euros (not counting expenses outside of amazon) in just 9 months.

My friend was quiet for a while and then he asked me "and how much do I need to build my own rig?" It is true that he and his wife have already been researching cryptocurrencies for about a month by themselves and investing in buying satoshis but see that in just 9 months almost all the investment recovered has opened his eyes.

My experience nine months after starting

I must be impartial and honest and admit that all this time I have only paid 130 euros for electricity since where I currently live my rent includes electricity costs, and that had I had to pay electricity my recovery would have taken maybe not 12 months but 18.

To this day mining has not made me rich, but it has given me many things to tell, it has allowed me to eat, it has allowed me to buy gifts at Christmas and birthdays for my two daughters, it has allowed me to spend wonderful moments teaching my daughter to ice skating and, finally, it is allowing me to study again (for those who do not follow me yet on twitter, I study editing and video post production).

Mining as such, for an average user with a rig (or two), brings a lot of work (more when your knowledge is not professional) and in fact I always say that it is my second job. It will definitely not make you rich nor will you live on it, but it will be an extra salary that will allow you not to live with water up to your neck.

So the next time someone comes across me wanting to defame mining I'll say "tell it to my photo."

 

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Paul Gerard

Mexican in Cantabria, video game lover, fanatic to the bone and passionate about technology in general. I'm not a programmer or a computer engineer, but that doesn't scare me to get my hands on both hardware and software. After work, I devoted all my time to mining, new video games and quietly recovering the gold lost in the conquest. WINTER IS COMING.

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3 comments

  1. Congratulations… I know what happened, I started in May of last year… With a graph on my PC…. A Sapphire R7 260X also mining ZEC ... I was investing and putting from my pocket. First a plate ... Then a modular power supply ... two second-hand R9 280X ... Little by little ... The best thing was the whole learning process and observing how this world evolves ... Thanks to those efforts, I was able to leave the slave job that I had (waiter) and right now I work on a farm that is starting its way. At the same time, I did not give up my project / hobby / passion for mining… I currently have two RIGs in my house with 11 AMD RX 580/480 GPUs… I dedicate them to ETH and XMR… because of my current job I cannot spend as much time as I would like to research new currencies and new algorithms, but thanks to cryptocurrencies and although late ... I am finally working on what I like and I'm a little closer to my financial independence ... Greetings

    1. Thanks, from my pocket I have not put anything that is sure that if I put it I would already have 2 rigs. This becomes addiction because since you are in the middle of one you think about when you will finish creating another and get double the benefit. I am very happy to have it because when I am in a hurry (with all my pain) I pull the ZEC to pay for something urgently but in the end I know that I will always have something in case of emergency.

  2. Good:
    I'll give you a page where you can mine online: "https://coinup.club/ref?id=brokeri".
    It's simple and you don't have to have your computer on all the time.
    A greeting.

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