عملت تعدين العملات الرقمية لمدة سنة. هل كان مستاهل؟

Summary

In this video, the creator reflects on their 2017 investment of $25,000 in cryptocurrency mining equipment, specifically Ethereum mining using GPUs. They share their initial excitement, the challenges of sourcing GPUs, the high energy consumption and heat generation of the mining rigs, and the financial outcomes. They also discuss the difficulty of predicting market trends and the wisdom of investing in mining versus buying cryptocurrencies directly, concluding with the lesson that one cannot catch all opportunities in the crypto market.

Takeaways

• 😀 The speaker spent $25,000 on mining equipment and digital currencies in 2017 and adjusted about ten of them.
• 🔍 The speaker became interested in digital currency mining in late 2016 after hearing about Bitcoin and started researching mining methods and algorithms.
• 📦 Initially, the speaker wanted to buy a cheap device to try out the mining field and found that most mining equipment is manufactured in China.
• 💻 The first mining device purchased was easy to operate, requiring only to be plugged into electricity and the internet.
• 💰 The device was able to mine digital currencies and provided an equivalent of $100 per month.
• 🚀 The speaker was excited and decided to enter the mining field more seriously, researching specialized equipment for mining specific cryptocurrencies.
• 💡 The speaker discovered that mining Ethereum was possible using graphics cards, which are commonly used for computer games.
• 🛍️ Finding and purchasing graphics cards for mining was challenging due to high demand and limited availability.
• 🛠️ The speaker had to build custom frames and power supplies to accommodate multiple graphics cards for mining Ethereum.
• 🔥 Mining equipment consumes a significant amount of power, equivalent to running multiple refrigerators 24/7, leading to high electricity costs.
• 🌡️ The heat generated by the mining equipment was problematic during the summer, requiring additional cooling solutions.
• ⚡ The speaker faced issues with the power supply not being sufficient to run all household appliances and the mining equipment simultaneously.
• 💡 The speaker learned that it's crucial to consider the power consumption and noise levels when setting up mining equipment at home.
• 📉 The speaker suggests that the best time to buy mining equipment is during a market downturn when prices are significantly lower.
• 🤔 The speaker reflects on whether it would have been better to invest in buying Ethereum directly rather than mining it, considering the time and resources spent.
• 📈 Despite the challenges, the speaker concludes that holding onto digital currencies like Bitcoin can be valuable as their value tends to increase over time.

Q & A

What was the initial investment made by the speaker in 2017 for mining equipment?

The speaker initially invested 25,000 dollars in mining equipment in 2017.

What was the speaker's primary interest that led him to explore the world of digital currency mining?

The speaker's interest in digital currency mining began with Bitcoin, which he learned about at the end of 2016.

Why did the speaker decide to start with a cheaper mining device?

The speaker wanted to try out the mining field with a cheaper device to understand the process before investing heavily.

What was the monthly return the speaker received from his initial mining device?

The initial mining device provided the speaker with an equivalent of 100 dollars per month.

Why was it difficult for the speaker to find specialized mining equipment for a specific type of mining?

It was difficult to find specialized mining equipment because many people were interested in mining, and the demand was high.

What type of graphics cards did the speaker focus on for mining Ethereum?

The speaker focused on two types of graphics cards for mining Ethereum: the GTX 1070 and the AMD Radeon RX 5700 XT.

What problem did the speaker encounter with the frame for holding the graphics cards, power supply, and motherboard?

The speaker faced the problem of not having a box that could accommodate seven graphics cards, so he had to create one himself using aluminum and wood.

What were the issues the speaker faced with the high energy consumption of the mining equipment?

The speaker faced high noise levels and excessive heat generation due to the high energy consumption of the mining equipment, which was equivalent to running three refrigerators 24 hours a day.

Why might it be challenging to run multiple mining devices in a household setting?

Running multiple mining devices in a household can be challenging due to the high energy demand, which might exceed the household's available power and interfere with the use of other electrical appliances.

What advice does the speaker give regarding the best time to purchase mining equipment?

The speaker advises that the best time to purchase mining equipment is during a market downturn when the equipment is more readily available and significantly cheaper compared to its peak price.

What was the speaker's conclusion on whether it was better to mine or buy Ethereum at the start of 2017?

The speaker concluded that it would have been better to buy Ethereum at the start of 2017, given the increase in its price, rather than investing time and money in mining equipment.

What lesson did the speaker learn from his experience with cryptocurrency mining?

The speaker learned that it is impossible to capitalize on every opportunity in the market, and one should not be upset with the profits they have made, even if they are less than expected.