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You just don't realize how profitable bitcoin mining is IF you managed to buy machines when prices are at the low side and/or if your cost of energy is also low (and phil's is because it is solar).In late 2021 it was possible to even sell the miner you bought in mid-late 2019 for 2-4X $ cost (and maybe even more) even AFTER it mined for two years (I wasn't smart enough to do it this way, unfortunately).
Phil just told you that one 100th machine earns $8/day, which means roughly 2-2.5K a year (after adjustment for difficulty rise), which means that machine is paid off in a year and after that almost pure profit (or at least 70% margin) if electricity is 4-5c/kwh.
Imagine what this miner would earn if btc price doubles or triples.
Maybe you are not a techie, but setting up a mining machine is ten times simpler than a new laptop. Lots of noise, though...home mining is only advisable if you have 5-7c or below power and a basement (or shed) as it is unbearable in the living quarters even with an empty room and the closed door. Need right cables too as it "eats" a lot. Your typical home cables are no good as it is best at 220-240V (with US being typically at 110V, apart from washer/dryer).
I doubt that I am suggesting that mining is not profitable and that guys can choose to mine if they like, including that I even conceded that there was a mining windfall in 2021 for those who were already set up in mining and who did not end up getting too greedy.
I have repeatedly criticized Phil for advocating selling BTC below $20k and for pumping IBonds in the around $16k BTC prices, and also I have criticized him for uptalking shitcoins and also proclaiming that hashrate leads price and/or that his current DCA'ing approach is even close to the full picture, when he started it out (or perhaps primed up his cash reserves) by selling below $20k first. I have also criticized him for seeming to engage in behaviors that would be more fitting for someone who is way younger in his timeline, when he admits to his age factor.. even though surely, there are things that he says that are correct, and I generally like him in terms of his likely being a genuine person... but there are quite a few times that he gets a wee bit into too much advocacy for approaches that are more individualistic and likely not very good best practices, even if someone might kind of fit his situation.. though of course, I have no problems with ideas of having more liquidity (or even more value in cash rather than bitcoin for someone who is in their mid 60s).
Regarding you other various assertions about how "easy peasy" you are suggesting mining to be, I think that it is way the fuck better to get normies off of zero and with more simple and straight-forward techniques rather than suggesting how "easy-peasy" it is to mine.. fuck that nonsense.. let's walk before we run.. same thing with your suggestion that it is better to try to time the market when you get in rather than starting out with the better and more straightforward DCA approach.. .. Yes, more sophisticated approaches can be taken, but we are really early in our adoption phases and we have around 99% orf the world's population who are either no coiners or low coiners.. and it seems good to be attempting to address various ways to get people off of zero... or maybe figuring out ways to become more aggressive/assertive in their BTC accumulation methods without overly complicating matters.. and the basics of getting finances in order and figuring out how aggressive that someone is able to become through something like dCA seems to be something that is more in the range of doable.. rather than either timing the market or making nonsense (and likely hyperbolic assertions) that "mining is easy peasy.. and even you can do it JJG.. blah blah blah.. " Yes.. .Biodom.. seems to get pleasure from starting out by complicating matters and suggesting that "anyone can do it."...
.....The rule by OP which clearly states "Do not post random comments on this thread, unless it is directly related to the last wall update" but you are too ignorant to read them.
You must be new here.Me too.
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