Well guys... sold my small business (restaurant), bought a shitload of GPUs.. and now I realize I may not know what the fuck I'm doing. I've got almost 70 cards running (mix of 1070s and 1060s, mostly 1070) mining rvn, getting like 1,500 a day or something like that. Overall at current prices, making like $430 a week before power. Which isn't shit. I realize I can go nicehash and make more probably but I'd be making maybe $600-$650 with nicehash or ethereum or zcash (probably a bit less with zcash at current prices).. My point is, is this the best way to go about it? Mining something speculative, or mining the most profitable coin at the time and exchanging to speculation? I need to liquidate at least some of my monthly earning to get by, but either way, it's a meager existence, and eventually, these cards will crap out despite my best efforts to keep them running at 65 Celsius, and I'll have nothing. Does anyone have any advice for me? Is it really true that 70 fucking Nvidia GPUs can only earn you round-a-bout 2k-2.4k a month after power?? Did I just screw myself??
If you're looking to support yourself off the profits, you absolutely need to be mining the more stable coins that bring in ~3k/mo in profit. If you have the capital to sustain yourself while holding onto your mined coins you can go much more speculative. You need the capital because you'll most likely have to hold the extremely speculative ones for a long while before you see them make big jumps.
Think about what your monetary exposure is, then use that information to figure out how much risk you can take. If you're looking to be precise about it, you can run a Black-Scholes model to calculate the current-day market value of what you're mining
https://en.wikipedia.org/wiki/BlackScholes_model (sub in price per coin as exercise price where cost per coin is
((cost of rig)/(est. days to breakeven) + (electricity cost per day))/(number of coins per day), annualize the volatility by looking at the volatility in a given time window and extrapolating out to a year (or if it's been around for a year, look at it for a year), use fed numbers for interest rate, time to maturity would be your estimate of how long you could hold the coins for before having to sell them, and the current price per coin as stock price. You can find a calculator here:
https://www.mystockoptions.com/black-scholes.cfm)
That should help you value your investment in a risk-adjusted way to help you minimize exposure.