New to mining, would appreciate some clarity
So I've understood the gist of bitcoin mining for a while now, but now my dad has caught wind and will not shut the fuck up about it until he's got a rig mining in his garage. Every FAQ I read through only leads me to more questions, so I was hoping I can ask the community a couple questions to determine whether or not I should continue my research or not.
So my dad wants to build a GPU mining rig because he believes he will be able to sell his parts and upgrade when new GPU's are released. Right now he doesn't really have a set budget. Let's say it's 10k, and we buy 4 brand new 1080ti's.
1a) Will these GPU's still be profitable or does the mining severely degrade their processing power? 1b) Are GPU's even a viable method for mining anymore? 1c) We pay 11c per kw/hr, is that too high to earn a return?
2) If GPU's aren't viable, where do I go from here? ASIC miners? Is that more profitable? He's not looking for a quick turn around, he's looking for long term investment.
I really want to get into mining with him but everything just seems so overwhelming. We're both fairly competent people, but there's just so much to learn! But if anyone could clear up those questions that would be very much appreciated.
Submitted August 11, 2017 at 08:33AM by Truesoldier00
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