Hi,
How to cooperate?
Could you give me more details?
Thanks.
Topic: Bitcoin Mine opportunity with ultra-cheap electricity - page 3. (Read 8141 times)
I was thinking this thread was looking for investors is what I meant by backing. It sometimes takes money to make money.
I really think you would have to build one of these that you have ideas of having 300 of them. I think it needs proof and not just on paper. I could be wrong on this but I think if you did one and proved it investors would be much easier to find.
I really think you would have to build one of these that you have ideas of having 300 of them. I think it needs proof and not just on paper. I could be wrong on this but I think if you did one and proved it investors would be much easier to find.
Indeed... that's why i'm not explicitly looking for investors, instead i'm trying to gauge interest on this kind of endeavors. I have possibilities to create a tiny one without breaking the bank (say, 8 shops), but for the real-deal i'm really short on funds.
well it is the same for me, if you buy the HW for the guy and then he pay you or he buy for himself and send to you, which would be a little more troublesome because of the shipment
talking about real number if the hosting isn't expensive in maitanance, it would be interesting, the total cost should not exceed half of the revenue of the miner per day, to have at least the possibility of a roin in 3 months
talking about real number if the hosting isn't expensive in maitanance, it would be interesting, the total cost should not exceed half of the revenue of the miner per day, to have at least the possibility of a roin in 3 months
Yeah, i've received the same comment as you say that this is "almost" cloud mining. The only difference is that i don't impose hardware, the individual owners are free to run whatever their hearts tell them. That's why central pressurized CO2 fire supresion is a must here
Don't want to go *CowboyMiner* on this one.Also, the hosting maintenance, in this scenario, is less than 0.4 USD/day, so yeah, it lets you break even quickly. However, i think that the cost of each shop will add some 5-6 months to the ROI figure of a full 36KW of S5s, that could pose a problem if the "shop" owner is looking for a quick buck instead of a long term mine.
i didn't read everything bu in the case you offer an hosting service, how much you will charge in total(fee maintanance and everything else) for hosting a s5, that you already have, in the case that i want only its hashpower, pretty much like a cloud?
No, it isn't a hosting service per-se. Hosting doesn't make sense, because there's no win-win scenario. The "hosting" usually tries to milk the most from the customer, and the customer invests in the hope of the hoster to be honest. Take as an example that i had a gold mine, and i'm mining and profiting for it, but then i would take money from someone else to give them part of my mining efforts. It is obvious that the fee will be proportional to the amount i'm giving to the customer, making the whole scenario worthless.This idea i got is to help decentralize the network, as people are shutting down their miners from the high cost of electricity everywhere else, more and more the big pools are taking advantage of that. The idea is to let people have a place to put their own miners, and mine wherever they want, and the only service will be maintenance (internet service, electricity, cleaning, handling of the miners, sale of the device at end of life, etc).
well it is the same for me, if you buy the HW for the guy and then he pay you or he buy for himself and send to you, which would be a little more troublesome because of the shipment
talking about real number if the hosting isn't expensive in maitanance, it would be interesting, the total cost should not exceed half of the revenue of the miner per day, to have at least the possibility of a roin in 3 months
Do you have the backing to do one as proof of concept? I think if you could prove concept it's more likely for people to invest and want in.
I think that proof of concept goes a long way as far as getting investors.
I think that proof of concept goes a long way as far as getting investors.
What kind of backing are you thinking of? i got my own mines, which aren't big (yet), but i'm more than willing to let people ask about them and prove the benefits of mining here. I would be doing this project out of pocket if i had the financial backing, but unfortunately good ideas don't usually land on people with deep pockets
I was thinking this thread was looking for investors is what I meant by backing. It sometimes takes money to make money.
I really think you would have to build one of these that you have ideas of having 300 of them. I think it needs proof and not just on paper. I could be wrong on this but I think if you did one and proved it investors would be much easier to find.
i didn't read everything bu in the case you offer an hosting service, how much you will charge in total(fee maintanance and everything else) for hosting a s5, that you already have, in the case that i want only its hashpower, pretty much like a cloud?
No, it isn't a hosting service per-se. Hosting doesn't make sense, because there's no win-win scenario. The "hosting" usually tries to milk the most from the customer, and the customer invests in the hope of the hoster to be honest. Take as an example that i had a gold mine, and i'm mining and profiting for it, but then i would take money from someone else to give them part of my mining efforts. It is obvious that the fee will be proportional to the amount i'm giving to the customer, making the whole scenario worthless.
This idea i got is to help decentralize the network, as people are shutting down their miners from the high cost of electricity everywhere else, more and more the big pools are taking advantage of that. The idea is to let people have a place to put their own miners, and mine wherever they want, and the only service will be maintenance (internet service, electricity, cleaning, handling of the miners, sale of the device at end of life, etc).
Do you have the backing to do one as proof of concept? I think if you could prove concept it's more likely for people to invest and want in.
I think that proof of concept goes a long way as far as getting investors.
I think that proof of concept goes a long way as far as getting investors.
What kind of backing are you thinking of? i got my own mines, which aren't big (yet), but i'm more than willing to let people ask about them and prove the benefits of mining here. I would be doing this project out of pocket if i had the financial backing, but unfortunately good ideas don't usually land on people with deep pockets
Do you have the backing to do one as proof of concept? I think if you could prove concept it's more likely for people to invest and want in.
I think that proof of concept goes a long way as far as getting investors.
I think that proof of concept goes a long way as far as getting investors.
i didn't read everything bu in the case you offer an hosting service, how much you will charge in total(fee maintanance and everything else) for hosting a s5, that you already have, in the case that i want only its hashpower, pretty much like a cloud?
I do worry though what will happen when things collapse. I am going to guess the situation cannot remain the way it is.
You would be amazed how hard the electricity can get subsidized just to not assume the political cost of raising prices.
Besides, if electricity would go up 10x, which would be a total social disaster, an S5 would cost 10x 0.89$/month.... still VERY profitable...
I know people that still profit from S3 units here on my country
Mark me as interested. I'll have to do some research on the legalities of it in Venezuela but does sound interesting indeed.
I do worry though what will happen when things collapse. I am going to guess the situation cannot remain the way it is.
I do worry though what will happen when things collapse. I am going to guess the situation cannot remain the way it is.
1. Is the structure planned to be a lease/rental on the individual units or full/shared ownership by investors?
Full ownership. Its regulation will be under the horizontal property law on my country.
2. What's the actual internet connectivity like for business-grade connectivity over there in terms of cost and bandwidth? If mining doesn't work that may leave some doors open to other uses at least of a South American data centre with those power prices.
I haven't yet determined that, but from my business i know a full symmetric 1mbps costs something around 20-30 USD/month.
3. Do you run your own mining operations through a legal entity or personally? Are there particular advantages (offsetting costs, etc.) versus disadvantages (more likely govt intervention, etc.) of either structure?
Both. I own a business, and we use bitcoin legally to acquire hardware and services online (VPS, DNS, etc). Also, personally i have several miners, which let me expand businesses. Personally has the advantage of lower taxes, but legal entities have access to better capacities (think MW instead of KW). Govt. intervention is less than one would think (that is, non-existent).
4. What size would each unit work out at (sqm) for your early-estimated costs?
I'm calculating a little bit more than 0,5 SqM/KW. The units will be 20 Sqm with 36 KW each.
A couple of other questions to save me spending too long Googling on a Sunday evening:
1. Is the structure planned to be a lease/rental on the individual units or full/shared ownership by investors?
2. What's the actual internet connectivity like for business-grade connectivity over there in terms of cost and bandwidth? If mining doesn't work that may leave some doors open to other uses at least of a South American data centre with those power prices.
3. Do you run your own mining operations through a legal entity or personally? Are there particular advantages (offsetting costs, etc.) versus disadvantages (more likely govt intervention, etc.) of either structure?
4. What size would each unit work out at (sqm) for your early-estimated costs?
Thanks
1. Is the structure planned to be a lease/rental on the individual units or full/shared ownership by investors?
2. What's the actual internet connectivity like for business-grade connectivity over there in terms of cost and bandwidth? If mining doesn't work that may leave some doors open to other uses at least of a South American data centre with those power prices.
3. Do you run your own mining operations through a legal entity or personally? Are there particular advantages (offsetting costs, etc.) versus disadvantages (more likely govt intervention, etc.) of either structure?
4. What size would each unit work out at (sqm) for your early-estimated costs?
Thanks
Ah, so just to clarify what you're offering is an ultra low-cost hosting service based out of vz?
Correct me if I'm wrong.
Correct me if I'm wrong.
Almost correct...
It is a real-state that will be sold to investors, in a completely legal fashion, they can even resell or lease it to other parties.
Administration of the whole building is the "hosting" with services meant specifically for data-hosting needs: cleaning of devices, handling of equipment, removal on demand and shipping, proper cooling, multiple internet access, VPN access, remote video feeds, etc. This would be part of the commons cost, not too different to what you have to pay monthly on your average condo.
Oh, I see! Thanks for the info, I'm interested in seeing how this progresses as time passes on.
Ah, so just to clarify what you're offering is an ultra low-cost hosting service based out of vz?
Correct me if I'm wrong.
Correct me if I'm wrong.
Almost correct...
It is a real-state that will be sold to investors, in a completely legal fashion, they can even resell or lease it to other parties.
Administration of the whole building is the "hosting" with services meant specifically for data-hosting needs: cleaning of devices, handling of equipment, removal on demand and shipping, proper cooling, multiple internet access, VPN access, remote video feeds, etc. This would be part of the commons cost, not too different to what you have to pay monthly on your average condo.
Ah, so just to clarify what you're offering is an ultra low-cost hosting service based out of vz?
Correct me if I'm wrong.
Correct me if I'm wrong.
Very interesting on some of the information. So does the official exchange not really mean anything? I find this "black market" interesting on currency just never dealt with anything like it. Who do you go to to exchange cash? Would a foreign investor be paying the official exchange rate?
There are at least 4 "official" exchanges here:
Wow thank you for putting such a great response together. It's honestly better anwser then any of the stuff I was finding on google.
Mining does sound very interesting there.
First question -- where is "HERE", where you want to do this mine? With the cheap real estate and power?
Venezuela. Everything is cheap here.
Second question - how can you even have such a boneheaded, moronic idea of trying to start ANOTHER Bitcoin mine when the difficulty is 51 BILLION, and the prices are past their peak, and all the infrastructure to build this thing is very costly. It is a financially losing proposition, cheap labor and power aside. Don't do it.
Apart from the obvious trolling there, this is not a "mine" per se, if you read what i've said already is that this will be a "mini-mine condominium", everyone inside is free to pick any mining pool and get their profits themselves. The idea is to let everyone have the opportunity to mine profitably without the costs related to electricity in most countries. This is the contrary to centralization.
How are you planning on giving your investors a return?
Investors would "buy" one of the "shops", they are totally free to either use it or sell it to someone else. It would work exactly as having a commercial shop, just that it suits best electronics.
Where are you sourcing your hardware from?
I'm not sourcing hardware. However, i'm working on a better heatsink for the S5 for more efficient heat removal, but that's a different project altogheter.
Does/can border authorities seize incoming mining hardware?
Haven't heard of someone being victim of this. However, i would advise owners how to get they hardware safely to the country, no need to have this kind of losses if i'm already into the mining business.
How can you convert btc to your local currency at the black market rate?
Btc can be exchanged on two sites already, there's a thriving localbitcoins scene and a facebook group to boot.
If local authorities find out, is it likely the hardware will be confiscated?
No, data services are VERY common on my country. Just in the same zone where i spotted the real state is an IBM data center, and one of the biggest venezuelan-owned data centers Daycohost.
It appears you already have investors and you already have people investing. How much are you looking for total?
Still not much investors as you would think. Certainty of long term profitability is something not much people have, and it seems that outside VE there's a feeling of bitcoin losing its magic and charm. I only know that whoever thinks that, they haven't found out yet how profitable Bitcoin mining is in my country.
Yeap, that's for one of my personal mines
It appears you already have investors and you already have people investing. How much are you looking for total?
Isn't this you?
https://btcjam.com/listings/47619-last-mining-expansion-for-this-year
Isn't this you?
https://btcjam.com/listings/47619-last-mining-expansion-for-this-year
Im from ve and im interested in getting into the business. If youre looking for a partner pm me.
This mining operation is very interesting, but I have a few questions:
How are you planning on giving your investors a return?
Where are you sourcing your hardware from?
Does/can border authorities seize incoming mining hardware?
How can you convert btc to your local currency at the black market rate?
If local authorities find out, is it likely the hardware will be confiscated?
How are you planning on giving your investors a return?
Where are you sourcing your hardware from?
Does/can border authorities seize incoming mining hardware?
How can you convert btc to your local currency at the black market rate?
If local authorities find out, is it likely the hardware will be confiscated?
First question -- where is "HERE", where you want to do this mine? With the cheap real estate and power?
Second question - how can you even have such a boneheaded, moronic idea of trying to start ANOTHER Bitcoin mine when the difficulty is 51 BILLION, and the prices are past their peak, and all the infrastructure to build this thing is very costly. It is a financially losing proposition, cheap labor and power aside. Don't do it.
Second question - how can you even have such a boneheaded, moronic idea of trying to start ANOTHER Bitcoin mine when the difficulty is 51 BILLION, and the prices are past their peak, and all the infrastructure to build this thing is very costly. It is a financially losing proposition, cheap labor and power aside. Don't do it.
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