Topic: Three Men Mine $200,000 In Bitcoin Every Month - page 4. (Read 11968 times)
$8 million a month in Washington state - that was a year ago. What do you think that they are making now? Probably a lot less and maybe getting ready to shut their doors. Everyday more hashing power comes onboard and difficulty increases - my electric bill has finally overtaken the bitcoins that I generate. I'm running 10 Antminer S-1's and I thought about getting the upgrade kit to get each one up to 453 GH, but that will only buy me a few months until the electric bill once again surpasses my generated bitcoins. I think that I'll shut everything down and hope that my 15 bitcoins might be worth something someday like $100k each? I can always dream!
Yep its a legit gamble, but someone has to do the job, without miners, theres no Bitcoin, if Bitcoin wins, big miners will get the biggest reward.
On the contrary, big miners can not cover recoup their investment if they pay market rate for those ASIC miners.
Yep its a legit gamble, but someone has to do the job, without miners, theres no Bitcoin, if Bitcoin wins, big miners will get the biggest reward.
I am curious to know how much power they are using...probably kilowatts...enough to house a colony.
Amazing work nevertheless
Amazing work nevertheless
If you have enough wealth that you can set up a system like this that almost breaks even, you stand to win in the long run.
It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
I don't see how something that does not even break even could potentially create wealth in the long run. As it stands now, it is a much better idea to invest your money in buying additional BTC instead of buying mining equipment. With the difficulty rising ~20% every two weeks and the price of bitcoin not rising this quickly you will always be better off by simply buying bitcoin on an exchange or via a trade. It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
The way these guys will make money for the future lies in the number of bitcoins they store up for the future. They don't sell all the bitcoins they mine. They hold some of them for the future. Not the little guys, of course. But the big boss who has put this system together.
Who knows the future? If the fiats all collapse, it just might bring down telecommunications worldwide. This might destroy Bitcoin at the same time - too many forks of the blockchain. However, if only a few fiats collapse, or if the Dollar loses its position as the major currency of the world, there just might be a big transfer of wealth into Bitcoin in the areas of collapse.
It's a gamble. But people gamble in the markets all the time.
http://www.businessinsider.com/warehouse-men-200000-bitcoin-monthly-2014-8
From the article: "They have 'a couple of bitcoin' each for their efforts (Smith says they’re “heroes that keep our precious bitcoin network safe”). They spend most of their time checking, wiring, installing and rearranging – or playing video games."
From the article: "They have 'a couple of bitcoin' each for their efforts (Smith says they’re “heroes that keep our precious bitcoin network safe”). They spend most of their time checking, wiring, installing and rearranging – or playing video games."
A wise way to keep getting richer if you ask me,Kudos to them.
http://www.businessinsider.com/warehouse-men-200000-bitcoin-monthly-2014-8
From the article: "They have 'a couple of bitcoin' each for their efforts (Smith says they’re “heroes that keep our precious bitcoin network safe”). They spend most of their time checking, wiring, installing and rearranging – or playing video games."
From the article: "They have 'a couple of bitcoin' each for their efforts (Smith says they’re “heroes that keep our precious bitcoin network safe”). They spend most of their time checking, wiring, installing and rearranging – or playing video games."
Wow, i wish i were in their shoes
Kudos to those men, keeping BTC strong. I wonder how many miners they own 
$200,000 is lot of cash..!!
$200,000 is lot of cash..!!
Damn, that's shitload of money. I will invest in miners now, they are making me jealous
haha me too 
I cant mining
my computer not strong for this
Holy shh......now that is hardcore mining for ya
wow, look at all the cables and asics.
This is cool.
This is cool.
Botnets make way more, you know, and there's no upkeep our cost.
Illegality is the root of all money.
No, don't come banging down my door. I don't run a botnet.
Illegality is the root of all money.
No, don't come banging down my door. I don't run a botnet.
If you have enough wealth that you can set up a system like this that almost breaks even, you stand to win in the long run.
It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
I don't see how something that does not even break even could potentially create wealth in the long run. As it stands now, it is a much better idea to invest your money in buying additional BTC instead of buying mining equipment. With the difficulty rising ~20% every two weeks and the price of bitcoin not rising this quickly you will always be better off by simply buying bitcoin on an exchange or via a trade. It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
wow, pictures of piggy back mining finally !
If you have enough wealth that you can set up a system like this that almost breaks even, you stand to win in the long run.
It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
It might take a couple of decades, yet, for the fiat currency banking system to crash itself. But things are in a position right now that the system could crash any time. All it might take is a few more countries getting off the USDollar as the world currency, like Russia and China are doing.
When this happens, the value of bitcoins just might soar in nations that still use the USD as their basic form of money. So, while Bitcoin mining might not be worth it today, it almost certainly will be worth it sometime in the near future... and maybe worth it in a very big way.
That is pretty amazing but can you imagine their electricity bill? Saying that though with that amount coming in a month I can't imagine that is a problem for them. Great to see someone making so much from mining, just goes to show it can be done!
Shit it's admirable! But I won't invest in mining, I'm so worried by the difficulty rise and I think now you can make money just if you have tons of dollar invested
Damn, that's shitload of money. I will invest in miners now, they are making me jealous
i guess this why bitcoins are done, too much money to sustain
Would be awesome to get this kind of money each month :O
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