Debate: Crypto oriented business | Bitcointalksearch.org

willnotwas

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Quote from: Thole99 on April 03, 2018, 08:33:44 AM

I'm pondering on what are people's thoughts on starting a company specifically aimed at mining crypto-currency, but not in the cloud sellers type, considering all of the available EU subsidies could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

Well, if you'd bothered to make the simpliest market research, you'd find that your idea is the main goal of many projects. I won't provide you any links because you have to find them by yourself if you want to deal with innovative ideas further in the future.

Kemarit

legendary

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Quote from: Thole99 on April 03, 2018, 08:33:44 AM

I'm pondering on what are people's thoughts on starting a company specifically aimed at mining crypto-currency, but not in the cloud sellers type, considering all of the available EU subsidies could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

There have been numerous ICO's in the past which aims to tap into the green energy (wind, solar). Moonlight is one and then WEM (Wind Energy Mining), but I don't know how successful this project is. And if this ICO or the project can really proved that bitcoin mining gears will run renewable energy without losing performance, then its a win-win situation for us. Remember that bitcoin mining requires high intensive energy and that's one area that those who is against crypto. If we can proved somewhat that we can tap to other sources to lessen the used of more electricity then we can all silent them.

amishmanish

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Anybody with enough capital, expertise and the benefit of living in the right country should invest into crypto-mining as a full-time or a side business.
Once set up, it is a potential bet on the future as well as a source for steady income. With incoming regulations and clarity, we will have a much better picture of how things will shape up. Those who take the first-mover advantage will enjoy rewards commensurate to the entrepreneurial risk in this. Once the picture clarifies and the market shoots up, it'll be harder to get in the game with rise in mining equipment cost.

The benefits of more and more smaller, medium sized businesses getting into mining are obvious for bitcoin in general. Now is the right time for anyone planning to do this.

Sidiq SP

full member

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the possibility of the program can run smoothly, but in return again with the readiness of our capital, as far as I know in the mine it requires substantial capital, so for us is not ready for this .. ?? if I am alone while still looking for capital to be able to continue my business, by joining bounty campaign, this is a little problem that I may feel in this case

tabas

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🌀 Cosmic Casino

I have a crypto facebook friend that daily updates his passion (of course its mining crypto's). He didn't disclosed on who are his partners but looking at the daily (mining monero) is impressive. What he did is he migrated to another country (didn't disclose the country either) and it's has a cold weather. Mining is still profitable if your capital is like a starting capital of a corporation or average type of corporation and if you use green energy. Hardware are too expensive and you don't look at the daily profit and expect ROI in due time.

Hydrogen

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Quote from: Thole99 on April 03, 2018, 08:33:44 AM

could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

Crypto mining operations, unlike most energy intensive ventures, is not geographically limited and can be established and run anywhere on earth with a decent internet connection. Being able to select location, most mining operations already opt for green energy providers such as hydroelectric power which provide electricity at lower cost per watt than coal based alternatives. In short, this means most miners already take advantage of low carbon footprint, green energy, alternatives rather than relying on oil or coal to provide energy. It could probably be acknowledged as an industry standard.

The biggest gains in crypto mining are likely to come from samsung, nvidia and intel entering the ASIC market which should help to decentralize mining operations, reduce the cost of mining as well as increase hash rate while reducing watt consumption per hash as silicon etching processes switch to smaller nanometer scale.

Jonsnowstark

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Quote from: Thole99 on April 03, 2018, 08:33:44 AM

I'm pondering on what are people's thoughts on starting a company specifically aimed at mining crypto-currency, but not in the cloud sellers type, considering all of the available EU subsidies could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

This is a good idea but i believe you are not alone thinking of this. Power is important in mining. If in your area power is stable at the same time cheap then by any chance go ahead. It would be profitable knowing you have subsidy from EU so it should work. Mining cryptos will really be profitable but make sure you choose well the coins you'll be mining so as not to waste time and energy.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Thole99 on April 03, 2018, 08:33:44 AM

I'm pondering on what are people's thoughts on starting a company specifically aimed at mining crypto-currency, but not in the cloud sellers type, considering all of the available EU subsidies could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

There have been many ICOs in this regard if I recall correctly. Somewhere out there this type of idea is not unique and you may find competition with similar products/services.

However if you are going to set up a mining farm and are looking for investors an ICO would be what you need. Of course people will believe in your project if you provide them with proofs about the site and location (maybe some free tours for them as well). Make sure to get a proper whitepaper and team ready to execute the project.

Herus22

newbie

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It depends on what you plan to mine and the prices of power in the country you'll be based out of, I'm sure there are IT subsidies that you could apply for that could fund the project, I'd suggest first doing a profitability analysis and checking your local legislative if you'd be allowed to spend the subsidy for creation of a mining rig, solar panels etc.

Thole99

newbie

Activity: 3

Merit: 0

I'm pondering on what are people's thoughts on starting a company specifically aimed at mining crypto-currency, but not in the cloud sellers type, considering all of the available EU subsidies could it be made profitable by incorporating green energy and focusing solely on mining crypto's.

Topic: Debate: Crypto oriented business (Read 186 times)