Bitcoin Mine opportunity with ultra-cheap electricity

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on October 20, 2015, 01:43:50 AM

Quote from: pilscoop on October 19, 2015, 08:39:27 PM

What kind of government contacts do you have?
Is anyone important backing your project?

i doubt he need a government contract, he just need a good electricity contract, if he is not running his electricity with his own method like solar panel and akin

the remaining stuf are just asic

I think you would need a government contact if you are using a lot of electricity there. Business there scares me a bit after reading.

Biggest thing is if OP's contact could prevent like what happened to Pepsi and Nestle where government literally seized asserts- http://blogs.barrons.com/emergingmarketsdaily/2015/10/12/pepsi-says-goodbye-to-venezuela/

If huge companies cant avoid seized I don't know what it would take to operate there. I realize I'm not there so I'm not seeing whole thing. But as a investor that article is scary when you consider any place that that can happen.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: pilscoop on October 19, 2015, 08:39:27 PM

What kind of government contacts do you have?
Is anyone important backing your project?

i doubt he need a government contract, he just need a good electricity contract, if he is not running his electricity with his own method like solar panel and akin

the remaining stuff are just asic

pilscoop

member

Activity: 70

Merit: 10

What kind of government contacts do you have?
Is anyone important backing your project?

CoinThug

member

Activity: 70

Merit: 10

Quote from: chiguireitor on July 15, 2015, 11:14:38 PM

Waw! that is nice to see how cheap it can be.

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: notlist3d on October 04, 2015, 01:35:34 PM

[...]

It sounded like it had to do with cloudflare. Are you saying they did not temporary block cloudflare effecting sites that used it?

I'm not saying they blocked bitcoin sites. But it sounded like they blocked cloudflare sites during that period.

It could have been a test to block dolartoday.com (it has happened before). They effectivelly blocked pastebin.org for some time because some people used it to communicate during the recent riots (i had sent several emails to get it unblocked, it was nonsensical, dunno if it was only me, but it works now).

However, as dolartoday uses aws, sometimes they end up impacting other sites (noobs). Their security team is like the infinite monkey theorem, they have a throng of newbies trying shit so eventually they get partial results.

Could be.... but i'm sounding conspirationist now hehe

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: chiguireitor on October 04, 2015, 08:49:28 AM

Quote from: notlist3d on October 02, 2015, 11:42:07 PM

[...]
Interesting read from that first reddit - https://d3d5dz3e9kyqan.cloudfront.net/confirmado-cantv-y-conatel-bloquean-medio-internet-para-sacar-dolartoday-del-aire-sin-exito-aqui-la-prueba/

I have no idea if it is true but it sounds like there was a cloudflare block they did temporary. Do you have any link to article saying what happened if it was not a block that went wrong? What's the real story?

Newbies making noise for nothing. It so happens that most of the problems that happened that day had nothing to do with blocking and more to do with the main ISP being shitty.

I had stable service along 5 uplinks, accesed the forum, bitcoinwisdom, several exchanges and several pools without problem. Even blockchain.info and coinbase.

This was just noise for noise's sake.

It sounded like it had to do with cloudflare. Are you saying they did not temporary block cloudflare effecting sites that used it?

I'm not saying they blocked bitcoin sites. But it sounded like they blocked cloudflare sites during that period.

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: notlist3d on October 02, 2015, 11:42:07 PM

[...]
Interesting read from that first reddit - https://d3d5dz3e9kyqan.cloudfront.net/confirmado-cantv-y-conatel-bloquean-medio-internet-para-sacar-dolartoday-del-aire-sin-exito-aqui-la-prueba/

I have no idea if it is true but it sounds like there was a cloudflare block they did temporary. Do you have any link to article saying what happened if it was not a block that went wrong? What's the real story?

Newbies making noise for nothing. It so happens that most of the problems that happened that day had nothing to do with blocking and more to do with the main ISP being shitty.

I had stable service along 5 uplinks, accesed the forum, bitcoinwisdom, several exchanges and several pools without problem. Even blockchain.info and coinbase.

This was just noise for noise's sake.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: chiguireitor on October 02, 2015, 11:10:18 PM

Quote from: MarkItZero on October 01, 2015, 10:48:31 AM

Any word from the government? It is concerning because it looked like they ordered your biggest ISP, CANTV, to start blocking Bitcoin:

https://www.reddit.com/r/Bitcoin/comments/3n3n8b/state_owned_and_biggest_isp_in_venezuela_have/

If Bitcoin is blocked by the ISPs/government in Venezuela it would not make any sense for someone to have a long term lease on their own mine down there.

Do you have government connections? Can you get your own exception?

I posted right there on the thread, search my nickname. I'm the mod of /r/BitcoinVzla and have SEVERAL govt. connections. This news was just noob BS. There wasn't any block, just our crappy isp being crappy.

Interesting read from that first reddit - https://d3d5dz3e9kyqan.cloudfront.net/confirmado-cantv-y-conatel-bloquean-medio-internet-para-sacar-dolartoday-del-aire-sin-exito-aqui-la-prueba/

I have no idea if it is true but it sounds like there was a cloudflare block they did temporary. Do you have any link to article saying what happened if it was not a block that went wrong? What's the real story?

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: MarkItZero on October 01, 2015, 10:48:31 AM

Any word from the government? It is concerning because it looked like they ordered your biggest ISP, CANTV, to start blocking Bitcoin:

https://www.reddit.com/r/Bitcoin/comments/3n3n8b/state_owned_and_biggest_isp_in_venezuela_have/

If Bitcoin is blocked by the ISPs/government in Venezuela it would not make any sense for someone to have a long term lease on their own mine down there.

Do you have government connections? Can you get your own exception?

I posted right there on the thread, search my nickname. I'm the mod of /r/BitcoinVzla and have SEVERAL govt. connections. This news was just noob BS. There wasn't any block, just our crappy isp being crappy.

MarkItZero

newbie

Activity: 3

Merit: 0

Any word from the government? It is concerning because it looked like they ordered your biggest ISP, CANTV, to start blocking Bitcoin:

https://www.reddit.com/r/Bitcoin/comments/3n3n8b/state_owned_and_biggest_isp_in_venezuela_have/

If Bitcoin is blocked by the ISPs/government in Venezuela it would not make any sense for someone to have a long term lease on their own mine down there.

Do you have government connections? Can you get your own exception?

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: notlist3d on September 22, 2015, 10:44:38 AM

...
I guess I don't understand you are putting down money for a structure of some-sorts and land. Why not just upgrade current space if it works out and have one bigger space actually built with cooling and BTC in mind?

'cause my current spaces are for my miners Cheesy

And the mining-specific place, yeah it is gonna happen... i just want to be backed by results, not just armchair calculations made up by me... easier to prove the idea that way.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: chiguireitor on September 22, 2015, 05:45:00 AM

Quote from: notlist3d on September 22, 2015, 02:40:13 AM

As far as the project you say taking time to create the plan. Is it really that it is still being worked on or that it has not received backing? It sounds like you have a plan just has not received backing.

And I could be wrong as not a Venezuela expert. I'm just asking questions

.

As mentioned back in the thread (and i think, you were the one who said it Wink

) it takes money to make money. I'm putting my money where my mouth is and building a miner-oriented house on a piece of land my family owns, to test some ideas first. Nothing too big, just a test for a 36Kw place. If it goes well, i've already put my eyes over a small real-state to create something bigger for me and some friedns, to test the vertical condo idea, and if it goes well, big condo it is.

Also, don't be afraid of asking questions, our country is a largely unknown gem to most of the bitcoin mining world.

EDIT: And backing wise, there are several people already interested, but i haven't been able to help them out because their requirements are FAR more complex than my original idea (go figure). I just want to help the little guy that wants to run a profitable mine but doesn't has a multi petahash farm already, not just the big guys. Mostly, a lot like the sidehack mentality of not pandering to the big fat wallets, but instead to the guys/gals that loved to mine but can't do it because their electricity service is crazy costly.

I did ask some questions but I cannot take credit for saying takes money to make money (at least not in this thread).

I guess I don't understand you are putting down money for a structure of some-sorts and land. Why not just upgrade current space if it works out and have one bigger space actually built with cooling and BTC in mind?

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: notlist3d on September 22, 2015, 02:40:13 AM

...
I just would not promise a guarantee building/land is worth more when being sold. US we once thought housing was impossible to loose and we had a bubble ( https://en.wikipedia.org/wiki/United_States_housing_bubble ). It is possible to loose money.
...

Indeed, all this could be just a big waste of money and space.

Quote from: notlist3d on September 22, 2015, 02:40:13 AM

As far as the project you say taking time to create the plan. Is it really that it is still being worked on or that it has not received backing? It sounds like you have a plan just has not received backing.

And I could be wrong as not a Venezuela expert. I'm just asking questions

.

As mentioned back in the thread (and i think, you were the one who said it Wink

) it takes money to make money. I'm putting my money where my mouth is and building a miner-oriented house on a piece of land my family owns, to test some ideas first. Nothing too big, just a test for a 36Kw place. If it goes well, i've already put my eyes over a small real-state to create something bigger for me and some friedns, to test the vertical condo idea, and if it goes well, big condo it is.

Also, don't be afraid of asking questions, our country is a largely unknown gem to most of the bitcoin mining world.

EDIT: And backing wise, there are several people already interested, but i haven't been able to help them out because their requirements are FAR more complex than my original idea (go figure). I just want to help the little guy that wants to run a profitable mine but doesn't has a multi petahash farm already, not just the big guys. Mostly, a lot like the sidehack mentality of not pandering to the big fat wallets, but instead to the guys/gals that loved to mine but can't do it because their electricity service is crazy costly.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: chiguireitor on September 21, 2015, 09:29:35 PM

Quote from: notlist3d on September 21, 2015, 07:49:11 PM

...
So you are buying property to put miners in? Seems like two different investments one is bitcoin other is land/building ownership.

How can you guarantee property does not lose value?

Historically, Venezuela has not lost land value in a VERY long time on our capital... like 100+ years.

In fact, Sq. M costs on the capital (on a pretty bad slum) are 2x montly minimum wage. Pretty hefty.

Besides, the datacenter quality of our capital (being the best spot for a latin-american endeavor with european or US targets) is very high, with the regional IBM and Procter&Gamble datacenter residing here.

Really, it's a no brainer: cheap electricity, highly valuated real-state == long-term profit for bitcoin mining.

I just would not promise a guarantee building/land is worth more when being sold. US we once thought housing was impossible to loose and we had a bubble ( https://en.wikipedia.org/wiki/United_States_housing_bubble ). It is possible to loose money.

As far as the project you say taking time to create the plan. Is it really that it is still being worked on or that it has not received backing? It sounds like you have a plan just has not received backing.

And I could be wrong as not a Venezuela expert. I'm just asking questions

.

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

May i add this: the time i'm taking to plan is because i want to create a mini-condo so i can test out some ideas on a small scale first, and then go full blown with this project. So, any skeptics out there saying that this is something that doesn't take too much time, try and do the same Wink

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: notlist3d on September 21, 2015, 07:49:11 PM

...
So you are buying property to put miners in? Seems like two different investments one is bitcoin other is land/building ownership.

How can you guarantee property does not lose value?

Historically, Venezuela has not lost land value in a VERY long time on our capital... like 100+ years.

In fact, Sq. M costs on the capital (on a pretty bad slum) are 2x montly minimum wage. Pretty hefty.

Besides, the datacenter quality of our capital (being the best spot for a latin-american endeavor with european or US targets) is very high, with the regional IBM and Procter&Gamble datacenter residing here.

Really, it's a no brainer: cheap electricity, highly valuated real-state == long-term profit for bitcoin mining.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: chiguireitor on September 21, 2015, 05:41:38 AM

Quote from: dance191 on September 20, 2015, 11:18:11 PM

[...]
Just want some clarification, you are saying 100 BTC per shop, with a shop being 36 kW? So, for about $23,000 (~100 BTC) right now you get access to 36 kW of electricity. The electrical rate is currently about $0.002 USD per kWh? Is there any other monthly costs beyond the cost of electricity?

I understand the appeal of the almost free electricity (which is very nice), but you gotta do much better than $23,000 per 36 kW. That is about $638 per 1 kW installed, that is really expensive. Am I misunderstanding your numbers, are those number correct? How is it costing you $23,000 to install 36 kW, am I misunderstanding?

~100 BTC is total cost of ownership, without including electrical costs.

The $638/kW would have included: refrigeration, monitoring and a ownership of the place. This would be the equivalent of buying a house for your miners. Fortunately, that doesn't loses its value, and can be resold for the same or higher price at each owner's discretion.

So you are buying property to put miners in? Seems like two different investments one is bitcoin other is land/building ownership.

How can you guarantee property does not lose value?

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: dance191 on September 20, 2015, 11:18:11 PM

[...]
Just want some clarification, you are saying 100 BTC per shop, with a shop being 36 kW? So, for about $23,000 (~100 BTC) right now you get access to 36 kW of electricity. The electrical rate is currently about $0.002 USD per kWh? Is there any other monthly costs beyond the cost of electricity?

I understand the appeal of the almost free electricity (which is very nice), but you gotta do much better than $23,000 per 36 kW. That is about $638 per 1 kW installed, that is really expensive. Am I misunderstanding your numbers, are those number correct? How is it costing you $23,000 to install 36 kW, am I misunderstanding?

~100 BTC is total cost of ownership, without including electrical costs.

The $638/kW would have included: refrigeration, monitoring and a ownership of the place. This would be the equivalent of buying a house for your miners. Fortunately, that doesn't loses its value, and can be resold for the same or higher price at each owner's discretion.

dance191

sr. member

Activity: 261

Merit: 250

Quote from: chiguireitor on August 07, 2015, 04:46:32 AM

Quote from: gablay12 on August 06, 2015, 03:43:55 PM

I am interested in your project.

Can you define the minumum amount of money you need to start your project?

Pls. also explain how you are going to import 100 S5 to Venezuela?Do you have a company?Do you need a company?
Will the investor be the owner/partner of the company?Or how are you going to organize it?

As i stated back then, this project isn't set in stone yet, but i have ballpark figures of around 100 BTC per "shop", probably less when figuring out real costs.

Importing Miners to Venezuela is easy with the plethora of couriers that do Miami->Door handling nowadays. Me and my group of friends import a lot of miners monthly and there's no issue handling them.

"Investors" will be owners of their respective "shop", so in a sense, it will be like buying a shop in a mall, but this building is exclusively targeted at HPC.

Just want some clarification, you are saying 100 BTC per shop, with a shop being 36 kW? So, for about $23,000 (~100 BTC) right now you get access to 36 kW of electricity. The electrical rate is currently about $0.002 USD per kWh? Is there any other monthly costs beyond the cost of electricity?

I understand the appeal of the almost free electricity (which is very nice), but you gotta do much better than $23,000 per 36 kW. That is about $638 per 1 kW installed, that is really expensive. Am I misunderstanding your numbers, are those number correct? How is it costing you $23,000 to install 36 kW, am I misunderstanding?

chiguireitor

legendary

Activity: 872

Merit: 1010

Coins, Games & Miners

Quote from: timk225 on September 20, 2015, 12:23:06 AM

This guy is full of shit. Nothing is "in the planning phase" for this length of time. He is a scammer and will steal any money you give him. Ignore his dumb ass.

I love you too <3

Topic: Bitcoin Mine opportunity with ultra-cheap electricity (Read 8156 times)