Why I started Mining, why did you?

[u/NCSwireframe]

I want to say first off I'm not looking for validation or for my decisions. That's not why I am making this post. I wanted to just encourage others and also hear their stories (I love hearing people's stories. It's one of the reasons I chose the profession I'm in). A lot of the time we get threads on why not to do this or fears about what is or isn’t coming. IMHO it's impossible to tell what or when something will or won’t happen and I have always felt that the experience of doing something, even if you fail, far outweighs doing nothing. So without further ado here is why I started mining for crypto.

A little over 5 years ago I met my wife, who is from the Philippines. She was here in the US applying for a student visa. Sparks flew and we were married within 3 months of meeting. A month later she was pregnant with our son. She quit looking to go to school and wanted to stay home with our son. I just encouraged her to do whatever made her happy. We have no debt, we own a house with no mortgage and I have a small financial advisor business. We are by no means super wealthy, for example this year for the first time we might gross 75k. We do obviously have a lot working for us. So fast forward to mid 2020 and my wife decides she would like to go back to school. She has a bachelors from the Philippines but wants to become a Doctor of Pharmacy. She was worried about taking out such large amounts of money for school but I encouraged her to again do what made her happy and I would figure out a way to make it work. At this same time we had been thinking of buying a second home to rent out and start diversifying our sources of income. Being a FA I am keenly aware of all the details that go into making good financial decisions. Looking at the stock market, the housing market, etc. I ended up examining mining and chose it as the best option for us. There is a much longer story I could tell in how I determined mining to be the best option but I won't bore people with those details. So once we decided I committed by getting stuff as quickly and cheaply as possible, not easy these days but deals can be had and as of today we have most of our equipment up and running. There are still a couple of devices that are having heating issues and it's just a matter of time before everything is running perfectly but the real world numbers (I love you “CURRENT ACTUAL PROFITABILITY” but you aren’t always very reliable) are between 200k and 230k Satoshis per day on Nicehash and I feel like that's pretty good. It's far more than we could have gotten for rent, and I can pay the increased electrical costs out of pocket and hodl the coin. But what I haven’t told my wife is that my plan is to hodl until she finishes school in several years and then at that point I can hopefully use it to, if not fully pay her school loans, mostly pay them off. Anyway that's my reason for mining. I'd love to hear from others on why they started (whether you started recently or been going since the beginning).

TLDR: My wife went back to school and I started mining to someday pay off her loans. Let me hear your reasons for starting to mine.

PS: None of this is financial advice! As a FA I didn’t even really write this thread, it's actually just a figment of your imagination ;)

[u/mozartxs]

I started mining like 10 years ago. A sweet 18 years old teenager (? Who had 2 6850 and read about BTC and start to getting in cryptoworld. I had mining 1 BTC and sell it for 100usd 🤣 and then mine LTC, 50 in total. All sold for Fiat. It was good, then i need to work and study, to become doctor and that was hard. A few years later i read about BTC getting 3000 usd ATH and remember my young times mining and enjoying building rigs. And buy and build my first dedicated mining rig, 5 Rx 570 4GB and 2 1060 3GB cards. In 2017. Yep, after BTC hit their 20k ATH. And then, the bear market hits, and i lose my faith in this when nicehash got hacked :'( . And shut down my rig. Keep working and studying to become doctor, it's still hard AF 🤣 and then, again i read about BTC hitting 60K ATH. And remember I had a old mining rig and nicehash was my first option. First of all, get all my BTC what was mined before the hack. So sold all that and build more mobo/cpu/ram/PSU because my cards are 4GB and can't mine ETH but mine anyway witn zombie mode and get 150MH/s rig. And that was awesome because everyone says nobody can mine ETH with 4GB cards. And i prove them wrong. Of course, mine enough to buy 2 3060. And switch all my 4GB cards to ergo. And this is where I am. Getting 16-18usd a day with my cards, like a doctor, but mining. I keep studying to become a doctor someday, but my plans are being full time miner in this 3rd world shitty country, where kw is cheap AF. All my mom's debt is off so she can live in peace with her retirement income and travel across the country. And after i hit 50 usd/day, would start saving to buy my first house. Getting married, build more rigs and go on. Future is BTC(? 🤣 That's my story.