Jakarta, CNBC Indonesia – Apart from trading, an alternative to earn money in the world cryptocurrency can be done through mining aka mining.
Simply, mining is a process that involves a super-sophisticated computer algorithm to validate crypto token transactions. This mechanism is often compared to the audit process in general.
A miner those who successfully validate transactions in the crypto world will receive a reward in the form of the crypto token which of course has value.
But different from trading, process mining more complicated and have a high cost because they must be connected to the mains with large power as well as stable internet lines and sophisticated computers.
Although the fees are large, the potential money to be generated is of course also greater because of the number of coins generated from mining generally jumbo.
Along with the increase in the price of crypto tokens in the last two years and the rampant activity mining, some people try to make a breakthrough. One of them is Siraj Raval.
To quote CNBC International, Raval is someone who tries to do mining crypto tokens through electric cars produced by Elon Musk’s company, Tesla.
Mining by electric car? It sounds crazy, but that’s how it is. Raval himself claims that when the price of crypto tokens rises fantastically throughout 2021, he can earn a net income of US $ 800/month through mining.
If these results can be maintained consistently, then Raval’s net income from mining crypto tokens can reach US$ 9,600/year or around Rp. 137.28 million in one year assuming an exchange rate of Rp. 14,300/US$.
According to Bitcoin miner Alejandro de la Torre, mining Tesla’s electric car is actually like connecting various computer devices to alternative power sources.
“Main component [mining] is the price of electricity. If it’s cheaper to do it in an electric vehicle then just do it,” Torre told CNBC International.
Indeed, mining crypto tokens via electric cars is an activity that is possible because there is a source of electricity, computers and so on space-his. Just a little modification.
In the case of Raval, he said he had to hack the computer system in his Tesla Model 3 2018 car and connect the Graphic Processing Unit (GPU) to the vehicle.
From there, Raval tethered five GPU units to his Tesla car battery. Then Raval runs a specific algorithm to mine Ethereum, a crypto token with market cap second largest after Bitcoin.
Even though he has to pay to charge his vehicle, Raval says the battery itself is “no limit”, so he can benefit a lot.
The Raval car gets 320 miles per charge, and it takes approx US$10 to US$15 to fill it.
Raval estimates that he mines about 20 hours a day from his Tesla battery. Even though the price crypto- as Ethereum is prone to volatility, Raval has used backstop other to make sure can earn money.
First, he staked his Ethereum on “Midas.Investments,” a custodial crypto investment platform that offers a 23% annual return on his investments. He also never cashed into US dollars so kri accountits pto continues to grow.
With all steps the, Raval said that during 2021, he earned approx US$400 to US$800 per month, making the business profitable, even for the crypto market is sluggish.
Although in the case of Raval it is still possible to make money, the factor that needs to be considered according to analysts and other miners is whether the money is commensurate with the costs incurred, is a factor that needs to be the main consideration.
(trp/vap)
– .
