[Winning]

Crazy times indeed, when a 100% gain in 2 weeks sounds like amateur hour... I bought a $1K worth of ETC on April 17th 2021 @ $43.64, and today May 5th 2021 it hit a high of day of $149.

I am really pondering leveraging my credit score against financing an Antminer E9 ASIC for Ethereum Mining. I could get 18 months 0% interest financing.

The Antminer E9 supposedly will produce up to 3 gigahashes per second (3000mhs), power efficiency of 0.85 J/M, and power consumption of 2556W. Those specs, at today's ETH prices would profit about $6500 per month. ( use the eth profit calculator at
https://etherscan.io/ether-mining-calculator to see the numbers for yourself.) The Antminer E9 will cost $20K to $30k. So in only about 6 months I could repay the CC back in full. But at 0% interest for 18 months why would I... It would be better to take the profits and buy an additional E9 in instead. By the time 18 months roll around I would have more then enough profits to pay off the CC in full..


Damn that looks like a great plan, lol!

[Steven_O]

Crazy times indeed, when a 100% gain in 2 weeks sounds like amateur hour... I bought a $1K worth of ETC on April 17th 2021 @ $43.64, and today May 5th 2021 it hit a high of day of $98.

I am really pondering leveraging my credit score against financing an Antminer E9 ASIC for Ethereum Mining. I could get 18 months 0% interest financing.

The Antminer E9 supposedly will produce up to 3 gigahashes per second (3000mhs), power efficiency of 0.85 J/M, and power consumption of 2556W. Those specs, at today's ETH prices would profit about $6500 per month. ( use the eth profit calculator at
https://etherscan.io/ether-mining-calculator to see the numbers for yourself. The Antminer E9 will cost $20K to $30k. So in only about 6 months I could repay the CC back in full. But at 0% interest for 18 months why would I... It would be better to take the profits and buy an additional E9 in instead. By the time 18 months roll around I would have more then enough profits to pay off the CC in full..


Damn that looks like a great plan, lol!

...then take your "winnings" and throw them in Compound. Become a lender yourself and earn 13% a year quietly while still owning your assets.

[ikedayan]

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[Winning]

...then take your "winnings" and throw them in Compound. Become a lender yourself and earn 13% a year quietly while still owning your assets.

Wouldn't it be better to just buy more Antminers?

I would think, once I get to 4 antminers I could easily justify hiring someone and paying them $15 per hour to babysit them..

[Winning]

The Antminer E9 supposedly will produce up to 3 gigahashes per second (3000mhs), power efficiency of 0.85 J/M, and power consumption of 2556W. Those specs, at today's ETH prices would profit about $6500 per month. ( use the eth profit calculator at
https://etherscan.io/ether-mining-calculator to see the numbers for yourself.) The Antminer E9 will cost $20K to $30k. So in only about 6 months I could repay the CC back in full. But at 0% interest for 18 months why would I... It would be better to take the profits and buy an additional E9 in instead. By the time 18 months roll around I would have more then enough profits to pay off the CC in full..

Ever since I actually wrote the numbers out in my above post, I feel that the longer I don't move on this idea, the more from anxiety I have.. It's strange how that when you write something down, it get so much more real..

Since the Antminer E9 is not currently for sale, plus when it does go up for sale, I feel like they are going to be very hard to come by.. I am seeing tons of news of companies placing orders for 100's of millions of dollars of mining hardware from Bitmain (the company that makes the Antminer). Here is one such article https://www.globenewswire.com/news-r...eployment.html

So perhaps I can start small, and just get my feet wet with mining by buying an older used Antminer. I would feel comfortable going in with 1/10 of the hashrate and power consumption the E9 uses.. Hopefully I can find a used 1 for 1/10 the cost.. But as long as it can produce 1/10th the profit, it is still a win..

So a miner that is 1/10 of the E9 would have the below specs.
0.3 Gigahashes (300 mhs) using 255.6 watts of power.
Which would profit $650 per month.
If I could find a used miner with those specs that costs $2000-$3000 I am going to purchase it asap.

Going to start searching Ebay, Amazon, Facebook Market Place, Craigslist, Alibaba, etc....

If I can pull this off, this would essentially be proof of concept.