Published: Aug 25, 2024
Duration: 00:04:32
Category: Music
Trending searches: metacritic
in this video I'm going to show you how people are making from 21 to $48 a day in cryptocurrency completely passively the cool thing about all of this is that you can start earning starting from today right after you finish this video I've been doing this personally for the past 40 days or so and I'll be sharing my results by the end of this video and I'll teach you how to do it as well so let's get started so as you probably know people make money through mining cryptocurrency they're basically three ways to mine cryptocurrency the most known and profitable way is GPU mining or at least is the one we're going to be talking about today GPU mining is basically using the graphics cards to solve equations and the way you earn cryptocurrency is actually a complex process that I'm not going to get into explaining right now but what you need to know is that mining ethereum is actually the most profitable right now you can't mine Bitcoin anymore and Mining ethereum pays you the most first let me show you how much you can earn every day if you start mining from today and then we'll talk about the core of this video so let's assume you have $110,000 that you want to buy a mining rig with if we take a look at the RTX 38 graphics card on eBay we'd see that the price is roughly $1,200 so with $10,000 you can buy about 8 RTX 3080s keep in mind that the 3080 isn't necessarily the best GPU to use for mining but this is just a rough estimate if I go to whattomine.com we can actually calculate how much power these gpus produce so with 8 3080s they produce around 723 mahash depending on the electricity price based on the country that you live in you can insert a number here you can look it up on Google mine is around 0.08 what the site tells us us is that we can earn about $26 a day from mining ethereum with eight gpus and that's after paying for the power so if you manage to keep the mining rig running for 24 hours you can make $26 a day $86 a month and $967 a year so it'll take you about a year to get your $110,000 back and after that you're pretty much getting everything you're earning from the mining work and you'll still have the gpus to sell possibly if you decide to I don't know who's going to buy those but okay so now you might be asking but dude $86 a month without doing anything that sounds too good to be true and I'm sorry to inform you that it kind of is the problem with this is that ethereum is going to switch from proof of work to proof of stake in a couple of months currently ethereum runs in a proof of work mechanism it means that in order for ethereum to work in order for the transactions to be verified on the blockchain people have to come with computing power and verify them basically and that's where miners come in miners are basically solving equations and coming with computer power to verify these transactions and that's how proof of work Works proof of work works but about a year ago the creator of ethereum said that ethereum is going to become ethereum 2 ethereum 2.0 is going to be run by a proof of stake mechanism what this basically means is that you won't be able to mine ethereum anymore the creator of ethereum thinks that this is going to be a lot better for the coin and the technology and also for the environment but that's definitely not his main motive so remember how proof of work demanded a lot of computing power in order for the transactions to be verified well in proof of stake the mechanism demands the people to have amounts of ethereum for the trans transactions to be verified and this is an oversimplification of the process but what you need to know is that you can stake your ethereum right now and you can tell how much you can make the current APR with ethereum staking is 4.5% so remember how if you had $10,000 you would make around 9,672 by mining ethereum well with staking ethereum and the 4.5% if you had $10,000 you'd only be making $1,460 a year so obviously a drastic difference now granted just because ethereum changed to profa state instead of proof of work doesn't mean you can't mine other coins which is going to be good news for people who already have a mining rig but it might not be great news for people who just started investing in mining rigs because once ethereum changes to 2.0 people are going to start mining other coins and it's going to drastically increase the difficulty of mining those coins so it's going to reduce the profitability by a lot and I mean a lot so here's where the project that I'm really excited about comes in Cubo money or Kubo money I don't know how to spell it Cubo is a node project now I don't want to talk too much about nodes in Miners and the difference between them and how The blockchain Works what you need to know is that a Cubo node promises stable returns if you invest in it the way that it works is that you pay a specific amount for a specific node from a specific list that's a lot of specifics and based on which node you got you get paid daily so for example you can earn about $3 a day completely passively by paying $400 or $21 a day for $2,000 now I have to say it's very similar to staking or buying a mining rig and Mining with it but it's also completely difference this is not mining so this