Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 10129. (Read 26731352 times)

FTFY 

I would not go so far as asserting that Venezuela has a "corrupt socialist government."  You seem to be buying too much into non-substantiated conclusory thinking that has been spun a lot in mainstream media.. especially in the USA and other countries who also are inclined to demonize Venezuela in a campaign that has been going on for nearly 20 years with clear roots during the Chavez regime, but more successful in recent times under the Maduro govt.

On the other hand, I will concede that going there to live would be quite risky because there is a lot of tension there at the moment, and we have heard that there has been a decent amount of conflict with bitcoin miners, too... that could cause you to become a target, even if you were not targeted for being either an american or anti-maduro based on your already asserted statement... hhahahahaha

I think anyone entering Venezuela to mine bitcoins better have some decent appearance of legitimacy about why they are there, perhaps even including family members or some kind of connection like that, and perhaps my brain is just too small to consider that the risks of drawing negative attention to oneself is likely way too much without some kind of real good camouflage as to why you are there and why do you have to run so many air conditioners in your 2 acre garage.

Velocity of money.

Dear r0ach, thanks for your post. My guesstimate is you made it to 90% of the ignore lists here. I'm in the other 10% because I love your impersonation. As I already said, you're probably a middle class, well educated Jew, politically engaged in an undercover operation to ridicule and undermine the alt-right.

We did. I know I did recently.


Of course, the explanation wasn't for you - you won't listen, as all the regulars know.

I did it just so the occasional newcomer doesn't get caught in your net of lies.

Good observations, Bones, especially regarding the overall processing efficiencies of some of the newer mining equipment.

Regarding your points about cooling and depreciation of equipment, there is a geographical (and within country borders component to the efficiency depiction of the map), so I can see how cooling of equipment might by somewhat geographical, but even some countries are going to have variation in the climate range within their borders.  The depreciation of mining equipment might also have some geographical differences based on available markets, but I have a harder time considering the depreciation of machines to have much of a geographical / national border component that would be easy to capture in such a map.

Shouldn't the poll be updated? June 28 was yesterday. 

Would be nice if they actually do something about it, and by the way, I have seen some posts that seem to give him some benefit of the doubt, in terms of him being an idiot, like you suggest, and I would think that courts are going to be inclined to give some benefit of the doubt, too, but after a while, even if the court is a kind of dumbass that is willing to give a lot of benefit of the doubt, the judge should be able to recognize, one would hope, that Craig is not merely stupid, he is intentional in a way that is likely to be punishable - and even hopefully the court is smart enough to see that his intentionality rises to the level of criminal that should not be allowed to be flaunted in an actual court of law - even if the proceedings are civil rather than criminal.

Quick reminder, Buy The Sideways !

Mate, I’ve got a friend with a Venezuelan missus.

That place is Fucked.

He’s a six foot six guy. Can’t even walk around in the pm without a local.

^
It is a good plan.

She just woke up... didn't slept at the plain

The eat stuff will be in 1H and 30 min

then

A small party at my village

then

We go dark, of the radar.....

DATALIGHT RESEARCHES

Lightning Network Study. Will this technology become the new standard for Bitcoin transactions?

https://datalight.me/blog/researches/lightning-network-study-will-this-technology-become-the-new-standart-for-bitcoin-transactions/

Among other things that I have read:

- Bitcoin block size 1Mb.
- The Bitcoin network to transfer big amounts.
- LN for micropayments.

It's fine for me. (but we have to decentralize LN.)

...probably because they can find similar prices in US.
In industrial setting, 5c-6c/kwh is relatively common.
Also, people are being lazy and simply mine at so called hosting sites.
It costs more, but no noise, etc. The mining machines are typically VERY noisy.

very understandable 

If it’s costing so little in places like the Ukraine then why aren’t Westerners flocking there & renting an apartment for 12 months to mine?

How much money could you realistically make?

I was in Kiev last summer & the city centre apartments were ok & really cheap.

aside from other valid arguments, this picture cannot be right, and even if it is for whole countries, at least in US, there are much-much cheaper regions where you can mine for much less.
With S9, you mine at break even right now at about 15.56c/Kwh.
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=13.5&HashingUnit=TH%2Fs&PowerConsumption=1350&CostPerkWh=0.156&MiningPoolFee=1
US average is 12c, so you do the math (my calc (12/15.56)X12000=$9254/btc mining breakeven cost after recouping fixed cost for S9 at the average US electricity cost).
Besides, we are talking about a machine that is a three year old tech. Newer machines have at least twice as better profitability, but they are still rare.
That said, miners also need to recoup their fixed cost (machines), so as far as P/L, the numbers are probably higher.
For example, current S9 (on ebay) will recoup it's cost (at 12c) in about 10 mo, but more realistically, later, due to difficulty increase.

    The US has an embargo against Venezuela, so I wouldn't be able to go into such a venture. Unless I was planning on not returning to the US until the embargo is lifted. Plus, I'm not certain that I would want to live for a moment under a corrupt socialist government. I know scoring that cheap corn is enticing, but there are limits. 

Well someone must be paying the bill anyway. So, it's not free at all.

Safety first. I heard the situation there is very hostile, not sure how bad it is.