Investing my $2,000,000 Into bitcoin (advice me) - page 6.

equator

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Quote from: BTC Loading on September 19, 2016, 08:07:22 PM

A friend of my i introduced BTCbitcoin to in 2014 now want to invest $2,000,000 into bitcoin mining and his is asking me is bitcoin mining is still profitable?

I have drafted out my own list but i want advice from you all

This are some question he still asked me..

How much can he make from mining?
and what are the list of equipment we need to buy with the $2,000,000 for us to start mining?

What will be the monthly revenue?
What will be the yearly revenue?
Cost of maintenance?

TOTAL COST OF ELECTRICITY MONTHLY FOR ANY COMPANY OR INDUSTRY IN MY COUNTRY IS $4000
(electricity is cheap here)

Land (Space) have been bought by him

If it is for real then i think first you have to get full knowledge about how to mine, and which miner hardware is currently running in the market and its performance. After getting all this information you can start the mining with bitcoin but you should not invest fully in one shot i think first you have to invest 50% with another 50% for reserve as if their is any other problems to sort it out. And you will also get idea of how the mining is working.

Best of luck for your mining project.

croutonhexagon

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Have you calculate that in How many years you could get you invested money. Well I have no idea of mining but still I think mining bitcoin with paid electricity is not a good idea instead invest some amount in solar panel and forever electricity bill. It might sound obvious but honestly think again that your electricity bill will be 0 forever and just buy solar panel once.

Pursuer

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Quote from: yhlsqj on September 19, 2016, 11:58:06 PM

2 million into bitcoin mining? It is insane, now the reward is 12.5 BTC per block, not profitable before. If i were him, i would buy Bitcoin or Ethereum for long term. And invest some other reliable altcoins.

when you know nothing of the cost of mining and the profit of it then don't give any opinion! 12.5 current reward is even more profitable than before because of the current price. the reward was halved when the price went up 3 times compared to last year.

but it is still a lot of work regardless of the profit, and it is only profitable if you can keep the expenses to a minimum for electricity and can have proper and cheaper way of cooling depending on the climate of your city.

Kakmakr

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Do you already have a warehouse with cooling infrastructure, or do you need to buy or rent that too with the funds? You will have to factor that in too, if you do not have the space at the moment. This project will be on a industrial scale, if you already have the infrastructure, and you only need to buy the Asic's to mine. < Well on a small scale >

It is also advisable to have a location in a cooler region of the world, to cut down on cooling cost. ^smile^

davis196

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Quote from: BTC Loading on September 19, 2016, 08:07:22 PM

A friend of my i introduced BTCbitcoin to in 2014 now want to invest $2,000,000 into bitcoin mining and his is asking me is bitcoin mining is still profitable?

I have drafted out my own list but i want advice from you all

This are some question he still asked me..

How much can he make from mining?
and what are the list of equipment we need to buy with the $2,000,000 for us to start mining?

What will be the monthly revenue?
What will be the yearly revenue?
Cost of maintenance?

TOTAL COST OF ELECTRICITY MONTHLY FOR ANY COMPANY OR INDUSTRY IN MY COUNTRY IS $4000
(electricity is cheap here)

Land (Space) have been bought by him

Your friend will have to buy mining hardware,and probably he will have to hire people to maintain and

keep that hardware so the costs will go up.I`m not sure if mining is still profitable,even with

cheap electricity.

If he wants to make everything legal,he will have to pay taxes,so the profit might be small.

target

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Quote from: yhlsqj on September 19, 2016, 11:58:06 PM

2 million into bitcoin mining? It is insane, now the reward is 12.5 BTC per block, not profitable before. If i were him, i would buy Bitcoin or Ethereum for long term. And invest some other reliable altcoins.

would be a better plan than putting it up on mining infrastructures, its too much work to handle now adays. he'd rather buy bitcoins and wait for next year to cash out his profits. he'll be one of the whales later.

VanDeinsberg12

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You're just making a troll in this forum, it's not logic where from the fund of your friend is coming? and how about the method for getting it? You're no need for wasting your time for just making a troll in here because too many the another things are a good place for your for wasting your word.

yhlsqj

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2 million into bitcoin mining? It is insane, now the reward is 12.5 BTC per block, not profitable before. If i were him, i would buy Bitcoin or Ethereum for long term. And invest some other reliable altcoins.

Herbert2020

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there are a lot of other initial costs that can make, making profit hard for your friend.
one of the reasons you see Chinese have many mining farms is that the mining equipment manufacturer is located there and they get their equipment cheap (so much cheaper)

also they have especial contracts for their electricity that makes their electricity again so much cheaper than regular rates.

Doubler Disburser 232515

member

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I'm sure there's a couple of projects being developed here in the forum if you search in the right section. Why not lease or buy a property instead of acquiring land to develop with?

What's your break down of costs?

25% Property and maintenance? (ie $ 500,000)
20% Staff costs? - Project managers and IT advisers (ie $ 400,000)
20% Rig acquisition and instillation
20% Power supply and insurance?
10% Legal? ( ie $ 200,000)
05% Unplanned emergencies? (ie $ 100,000)

Is this $2M a one off capital investment / all that you have / a yearly budget for new ventures?

Good luck with your venture.

isen

sr. member

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I don't think this is real either,no one asks on a public forum where to invest 2 million dollars.
In case you are not trolling here is my answer,I don't know about mining but you can just buy Bitcoins and sell it in a higher price later even a small price increase will give you nice profits and the risk is not so big.

The Sceptical Chymist

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When you have $2,000,000 to invest, my question is: Why the F*&$ are you coming to a chat forum for advice. There are financial boutiques and a bunch of other places that cater to people with high net worth.

But methinks you is just trollin'. Good job.

xhomerx10

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Quote from: BTC Loading on September 19, 2016, 08:07:22 PM

A friend of my i introduced BTCbitcoin to in 2014 now want to invest $2,000,000 into bitcoin mining and his is asking me is bitcoin mining is still profitable?

I have drafted out my own list but i want advice from you all

This are some question he still asked me..

How much can he make from mining?
and what are the list of equipment we need to buy with the $2,000,000 for us to start mining?

What will be the monthly revenue?
What will be the yearly revenue?
Cost of maintenance?

TOTAL COST OF ELECTRICITY MONTHLY FOR ANY COMPANY OR INDUSTRY IN MY COUNTRY IS $4000
(electricity is cheap here)

Land (Space) have been bought by him

It is not profitable when you buy miners from another company. You will be wasting your friend's money.
Better to buy land in North America.

groll

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Activity: 336

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I do not think that what you are saying is true. I do not know how did your friend acquire that $2M and he do not know how to invest it? People who are rich do know how to make more money than all of us. They are good in financial analysis and strategies. If he have those huge amount of money he will not ask someone how to gain more through bitcoin. I mean he will be using bitcoin to earn more but I think he will read more and search things connected to bitcoin by himself. He knows exactly what to do and will not accept someone else's opinions since he had make or have that $2M. He may go directly to companies who were into mining or investing. And if he have $2M maybe he is more and far richer than those mining/investing sites around the net.

tabas

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Is this for real? So if you want to invest your 2 million dollars in bitcoin then I guess you can have some partnership with big bitcoin companies. Why not have a partnership with coinbase or blockchain.info or even xapo for sure they are going to have a good improvement if you are going to invest that for real. And you are secured already with your investment because they are already well known companies.

Wind_FURY

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If you are really serious about this and you are not trolling, then I would suggest that you contact a Bitcoin mining company like Bitmain or someone who has been doing this as a profession for years. $2m is no joke and so is building a $2m Bitcoin mining farm. You need careful planning and careful study to help you become successful.

With the current mining reward, 12.5 BTC, is it still worth it to build a farm and mine? Don't the present mining farms have the advantage over you in this competitive industry?

BTC Loading

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if you believe you can succeed

A friend of my i introduced BTCbitcoin to in 2014 now want to invest $2,000,000 into bitcoin mining and his is asking me is bitcoin mining is still profitable?

I have drafted out my own list but i want advice from you all

This are some question he still asked me..

How much can he make from mining?
and what are the list of equipment we need to buy with the $2,000,000 for us to start mining?

What will be the monthly revenue?
What will be the yearly revenue?
Cost of maintenance?

TOTAL COST OF ELECTRICITY MONTHLY FOR ANY COMPANY OR INDUSTRY IN MY COUNTRY IS $4000
(electricity is cheap here)

Land (Space) have been bought by him

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