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Please assist me with this question and help me learn Pick a coin or token to mine notionally. Describe what you would need to begin
Please assist me with this question and help me learn
- Pick a coin or token to mine notionally.
- Describe what you would need to begin mining (internet connection, equipment, electricity, facility/location, environment, etc.).
- Investigate and record the cost associated with each of the identified resources in Step #2. [Hint: assume you are working on a cash basis e.g., when you purchase a piece of mining equipment, you record the cost when purchased.]
- Roughly calculate the time it would take to recover your initial investment and become profitable.
NOTE:
- Remember to list all your assumptions, such as the coin/token appreciation.
- Control for: Cost of Requirements and Value of the coin/token
- Exclude: Taxes, Business Fees, and Employee Costs.
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