six reasons why you should be mining
crypto so let's mine away this video is done in collaboration with red panda
mining core subscribe for him for more crypto news and mining related content
so let's start with the video number one passive income stream well did you ever
wonder how to make money passively or did you ever hear that it's like some
type of a scam or you know or not you know a real thing
well GPU mining gets you covered GPU mining is a passive way to make money
online especially with running a few machines okay and loading them letting
them mine all day making you money online especially when you have you know
solar panels or you know a free electricity okay especially if you live
near a hydro plant or something so anyways a six cord GPU rig and rx 580 is
a gigabytes can get you about an upwards of two dollars 22 cents on solar power
so if you're looking to make some money on the side okay without much you know
effort you can look at GPU mining number two hey hey bit truth and bit truth
community red panda mining here super hype to be here thank you for the shout
out and setting up this awesome collab with me today but now for our second
reason why we should be mining crypto is because the GPU prices on the used
market are very low at the moment for example let's take a look at GT x10 70s
look at the prices right now $76 $80 106 dollars 115 127 this is on eBay and we
can probably score a really good deal on a gtx 770 it's a really solid card to be
mining with but let's take a look at the history of the price of a gtx 1070 for
example when the last all-time high of cryptocurrency began in January 2018
so if we go to the gtx 1070 graph here on pc part picker for price trends as
you guys can see at this point a gtx 1070 retailed around 500 years USD so
this is around the high time of the all-time high of cryptocurrency now
moving along a month later in february you can see the price jump down to
around 600 to 650 dollars per gtx 970 now at this point the used markets such
as eBay and Craigslist were selling GPUs for more than what retail was a couple
months earlier right like I clearly remember these moments as I sold a
couple rigs during this time before the most for almost double than what I had
paid for guys it was an insane time for crypto mining and cryptocurrency in
general but as you can see the prices started to down that dwindled down due
to the crypto markets downturn we come to the present where crypto markets are
nearing an all-time low is it a great time to buy GPUs and start mining I
believe it is guys barrier to entry to crypto mining is now easier than ever
before we can catch it now before the next bull run occurs pitcher you're up
number three did you ever hear the saying it's a marathon not a sprint
well this applies to cryptocurrencies – especially with GPU mining that a lot of
people are complaining that GPU mining is not profitable well let me show you
this article from 2013 that's like about six years ago an illustrated history of
Bitcoin crashes by Timothy Billy on Forbes as you can see in 2011 in June
Kay price peak K $32 and if you know even if that speak price I would have
bought the whole supply of Bitcoin and I'd have sold it these days but of
course it's a marathon not a sprint and here it is price decline 68% this was
the peak of great Bitcoin bubble off 2011 but there is a followed long bear
market a bottom out $2 in November 2011 a total of decline of 94% prices
wouldn't return to the speak again on to 2013 nearly two years okay two years
of waiting and people are now complaining that GPU mining is not
profitable it is profitable for those people that are looking for the future
for the people who are patient for the people that are real investors in the
blockchain technology in the cryptocurrency space and in Bitcoin
generally I can in any cryptocurrency that you are mining with your GPUs it is
really worth it and that's one of the reasons that you should start GPU mining
as fast as possible and that's also falling under you know another advantage
or another reason by my friend you know read the you you know GPUs are really
cheap so now you know there's low barriers to entry as you can see another
crash in 2012 and remember this this article was written before any bull
markets before any insane prices coming in you know peak price fifteen point
twenty five percent decline fifty-one percent nearly by half 7.50 okay another
in March you know twenty thirteen forty nine dollars peak ok thirty three
percent price decline another thing in 2013 another price decline of sixty one
percent from two hundred sixty six dollars and the funny thing is here but
right now it's simply too early to tell this closure I own some bitcoins so as
you can see guys this is one of the big reasons to mine with GPUs another you
know side think okay my dad told me about Bitcoin mining in early 2011 but
my pc could only mine around one Bitcoin per day so I just dismissed it and said
we've missed the boat as you can see guys you need to actually look and you
know to be patient to be a big investor in this space and a lot of people are
saying you know GPU mining is not worth it no it's more than worth it right now
with their tests a lot of reasons so let's go to reason number four number
four thanks bit Ruth okay guys so the fourth reason why you should be mining
crypto is if you enjoy PC hardware and
tinkering as a passion for example let's say you already love computer hardware
and you are a very hands-on type of person like me then crypto mining is for
you because it opens up all an exciting new world from sourcing crypto mining
parts building whole mining rigs from scratch building a mining frame from
scratch even researching which coins to mine testing out wattage versus hash
rate efficiency and profitability bios modding your AMD cards fixing a broken
fan and or even troubleshooting your mining rig because it's freezing
sometimes you know it brings a certain fulfillment and joy when you are doing
something that interests you at the same time you receive monetary value from
crypto mining while doing what you love nothing beats doing what you love and
making money from it right guys this fourth reason really hits it home for me
take it away bit truth number 5 difficulty is too low as you can see I'm
on ether skin right now and as you can see the etherium network hash rate which
is the second largest crypto currency by size in the cryptocurrency market or the
third k as you can see the average daily hash rate was increasing as you know in
2018 in early 2018 and 2017 at the end you know you had a lot of people mining
so the difficulty increased so the amount of aetherium you were mining was
decreasing you know so right now since difficulty is too low this actually
pairs up with reason number three which is actually you know it's a marathon not
a sprint you know right now difficulty is too low
it's an accumulation process you know you remember like few reasons back where
I said you know my dad told me okay some guy okay my dad told me that Bitcoin you
know I used to make one Bitcoin today and I dismissed it well right now you
can mine as much aetherium you know that you could have you know mind right now
because the difficulty has you know helped by nearly a half and by that half
example let's say you know aetherium goes back to $1,500 well you can sell it
for double the price or excess of times the price and you know the goal here is
not to get greedy but to understand the you know this is an accumulation process
if it was a really easy process where people could become you know overnight
success stories well you you will see this graph being much more uglier so try
to use this to your advantage be like the people who were back in 2016 2015
and before you know be the early adopters of cryptocurrencies and
remember you know cryptocurrencies have been you know more than just 10 years ok
nearly this is the 11th year so use this to your advantage number 6
awesome one of my top reasons bit truth alright guys next up probably one of the
most common questions to crypto mining at the moment is why not buy crypto
instead of mining with electrical prices these days it does not make sense to
mine guys I've heard of this numerous times but there are many common answers
one of them is you can still mine depending on the electrical costs of
your area so here on choose energy calm we can see a recent study done on the
cost per kilowatt hour Louisiana at nine point eleven cents Arkansas at nine
point three four cents Washington at nine point six cents and etc now we can
go to what to mine as a quick example two input electrical prices and see if
we have profitable guys here I have entered in with a number of my GPUs that
I have right now and then what to mind will auto-populate the hash rates then
we will go down to cost and then we'll enter in the cost of let's say Louisiana
hit calculate and we'll see what the prices we will get so for example if
we're gonna be mining aetherium classic will be making after the electrical
price will make two dollars and 56 cents so see guys we are still profitable take
it as you will but if electrical costs hinders you from
mining let's think of it another way when you get into crypto mining you are
also investing into the hardware which retains value
remember reason to the cheap GPUs when the crypto market cycle is high and low
we also see GPU prices fluctuate with it therefore the next bull run happens you
will be happy you made the right choice and you'll be able to mine even more
profits and also know that your hardware is worth top dollar
instead of buying crypto directly you arm it you are taking less risk by
buying physical hardware that you can sell later on if you want
lastly you can do some speculative mining where electrical prices don't
matter to you in hopes that the specular coin will 10x or even a hundred x in
price your turn bit truth thanks guys more
than welcome read these are six top reasons why GPU mining is more than
worth in nowadays and next days and in the future you know and in the past also
don't forget to check out Red's channel in the link in the description in the
comments section he does all types of crypto related news and mining videos so
check him out thanks to you red and you guys so see you all on the next one
