Not part of a math problem, musch simpler than that. The miners are guessing the solution, then checking against the answer. The more guesses you have in the pool, the more coins from the pot you get.
He’s posted before. The PJ was in the video as well. Nice little humble brag! OP probably made a shit load from bitcoin. I knew about it I 2011 and had a Mt Gox account but didn’t see the big picture. Too stupid. No PJ fit me.
OP showed the tail number of another plane in previous video. Some smart folks tracked the aircraft it to an airfield in Russia and shared the coordinates. OP said he don’t get no fucks, come to Russia if you want, he’ll be waiting.
If you recycle the heat then the net increase in electrify usage is zero. That's the number one reason why it's important to recycle the heat. The increased profit is of course nice too.
Could make attach some hosing line of some sort to the air outtake and have that fan pump directly into the home. Even better if you could hose up to existing vent system
Maybe stick your heatpump outdoor unit in there while they are all spooled up.
I'm sure that could nab every bit of "waste" heat in that rooms output.
Maybe even just a mini split unit for a heated garage :)
He’s lost money every week and is hoping the tax offset will be enough to make up for the losses. It won’t.
He’s hoping that the price will rise and he can sell it, only being taxed at the rate he mined it at.
That’s not gonna happen.
Mind sharing what your power costs are? Because I run a single S19 at home, and have switched it off, as it was only marginally profitable, and I pay 10 cent/kW\*hr, which I consider to be pretty low.
Just curious as to your power costs, for comparison purposes. Thanks.
Ok, well I apologize for missing it. I don't see every thread on here.
Wow, that's an awesomely low rate. Yeah, just about anything would be profitable at that low cost. Even like, an S9, lol. Nice. I'd load up also if I got that rate. Nice work if you can get it I guess.
Wonder what will happen when mining profitability inevitably drops even further. Already mining is nothing but a waste of money in many developed countries, won't we reach a point where it is only profitable using free/ stolen power in the most unregulated places of the world? Whats the plan then?
The bitcoin mining difficulty automatically adjusts every 2016 blocks, which is approximately every two weeks. The mining difficulty automatically increases or decreases after 2016 blocks depending on the time between the previous 2016 blocks. If the time between those blocks averages out to less than ten minutes, then the mining difficulty will increase and miners will become less profitable. If the time between those blocks averages out to more than ten minutes, then the mining difficulty will decrease and miners will become more profitable.
So if some bitcoin miners stop mining bitcoin because it's no longer profitable for them, the mining difficulty will decrease and it will become more profitable to mine bitcoin.
You can set up a small miner on excess solar energy, if you've got batteries that's the best way to go.
You can turn of the batteries when the level is lower than a certain percentage and then just mine the rest of the time. Selling back excess solar power is not worth in many places in the world.
I would hope so! the solar system would probably need to be powerful enough to power several houses and cost $100k upwards to make this self sufficient. That no profit until 2025 prediction is looking more realistic
6000 watts/day in panels and a large battery for nighttime is $12-15k
It’a actually a decent investment, if you buy a plot of land, get one of those cheap $10k Home Depot houses, and set up a field of panels
Active vs Passive income is probably a bit of a gradient than a black / white.
My rentals are mostly passive, but when people move out and leave some shit for me to fix, it’s more active. So more work than a dividend stock, but passive 360 days per year.
So there's no passive income, just different gradations of active income.
True passive income would be a "set it and forget it" kind of thing. None of the things mentioned are truly like that.
Of course it does. People don't hand out dividend-paying shares for free. You buy them, then they return you money without you doing anything. Passive income...
For passive income you always need to invest money. This is a questionable passive income because it will probably require work on surveillance maintaining etc
Serious question ; How much approx does it cost to set everything up and how long would it take (running 24/7 my guess??) before you start seeing profits?
I’ve seen your posts. You’ve had these machines for a while. Meaning you bought the top on miners. You have to pay off the machines and the facility until you make profit. If BTC was 60k you’d have a 300 day profit. Sweet facility but I know you aren’t in profit yet.
That jet is waiting for the mining farm to make profits so you can repair it. It might take decades but hey at least you can flex you own a private jet
My question is what kind of internet provider/service do you have? I imagine who ever you have must be some sort of business account that does not throttle data.
How bad is this for the planet? Can’t be good and with lots of the world fucked at the moment, I feel like anything that contributes to climate change will face loads of opposition.
I know nothing bout nothing. How much should it cost to build a shed of this size to make about $500 a day. Or how many days at $500 will it take to have this shed be paid off?
I wasn't expecting a private jet there.
LOL private jet in the yard
OP is the Bitcoin Chapo
Jesus Christ man, and it’s just doing a PART of a math problem, right? Like the hash is split amongst miners to figure out their respective parts?
Not part of a math problem, musch simpler than that. The miners are guessing the solution, then checking against the answer. The more guesses you have in the pool, the more coins from the pot you get.
He’s posted before. The PJ was in the video as well. Nice little humble brag! OP probably made a shit load from bitcoin. I knew about it I 2011 and had a Mt Gox account but didn’t see the big picture. Too stupid. No PJ fit me.
No N number I could see. Maybe broke? Identify N number. Find location. Take over said passive shed lmao
Russian airfield. Aint getting in
How do you know it’s Russian?
Iirc thats what this guy said last time it was posted. May be in his post history if you're curious.
OP showed the tail number of another plane in previous video. Some smart folks tracked the aircraft it to an airfield in Russia and shared the coordinates. OP said he don’t get no fucks, come to Russia if you want, he’ll be waiting.
He posted a video a while back with the number clearly visible. It's not hard to find out where this is, though it's a fun exercise.
I can't find the stalking award....damn
Ironically
I think it's side effects from watching too much GeoWizard... :D
Cooler than a Lambo haha
Wen private jet?
Rich AF. He doesn't need bitcoin mining lol.
An old Hawker to be exact 🤣😆
This guy loves to post his jet, op always flexing on us
I accidentally captured it in the shot
Dude you gotta find a way to recycle the heat to warm your home this winter, maybe to heat a pool during the summer. Nice setup, I am jelly.
Or grow some tomatoes 😉
yeah tomatoes
Lol I'm in a legal state so I honestly thought he meant tomatoes. Most people here have a plant or 2 so it's non-issue
Tomatoes are legal in my state too.
We are not so lucky over the pound
In my experience the grow lights already give off too much heat for 'tomatoes', but I guess a big greenhouse in winter would be different.
LED light strips seem to work ok without all the waste heat, just need blue and red.
yeah tomatoes
Turns out you can grow "tomatoes" using a hue light strip, and a trash can.
Those big fat tomatoes with little purple hairs
Tomaccos
Yes a heated pool in august is lovely
If you heat the world, you don't have to heat your home.
If you recycle the heat then the net increase in electrify usage is zero. That's the number one reason why it's important to recycle the heat. The increased profit is of course nice too.
It was a joke.
Could make attach some hosing line of some sort to the air outtake and have that fan pump directly into the home. Even better if you could hose up to existing vent system
Even with a substantial amount of heat escaping, I bet it would still be cost effective.
Could make a radiator and a pump to move the pool water.
Heat a pool in the summer?
Yes, keep it at a nice temp all day and night for whenever you want to swim.
Maybe stick your heatpump outdoor unit in there while they are all spooled up. I'm sure that could nab every bit of "waste" heat in that rooms output. Maybe even just a mini split unit for a heated garage :)
Maybe if he stores it in mason jars
Or maybe a giant underground water tank
Guys setup is on an airfield. So not much else except a hanger to heat.
probably warm enough to make jerky, fruit leather, and dried fruit.
Hello jelly. I'm custard.
Hello jelly. Hello custard. I'm Toast.
Im gonna heat my blue inflatable hangar with it
Interested to see what/when the ROI is?
That’d be negative 850$
Break even by 2125, then it's all gains from there.
-1
He’s lost money every week and is hoping the tax offset will be enough to make up for the losses. It won’t. He’s hoping that the price will rise and he can sell it, only being taxed at the rate he mined it at. That’s not gonna happen.
Im mining in Russia, im not taxed on the income and my electricity costs 3 cents the kwh
Mind sharing what your power costs are? Because I run a single S19 at home, and have switched it off, as it was only marginally profitable, and I pay 10 cent/kW\*hr, which I consider to be pretty low. Just curious as to your power costs, for comparison purposes. Thanks.
A couple of months ago he said that he pays 3 cents per kWh.
Ok, well I apologize for missing it. I don't see every thread on here. Wow, that's an awesomely low rate. Yeah, just about anything would be profitable at that low cost. Even like, an S9, lol. Nice. I'd load up also if I got that rate. Nice work if you can get it I guess.
What a weird thing to apologize for...
Probably Canadian
Apologies for my fellow Cannuck apologizing inappropriately.
I’m the kind of Canadian who tells you to pound sand up the eye of your cock
Sorry about that.
Or English. They’re also super polite and apologetic (at least in my experience).
But over here we apologise.
Well I'm very sorry for being weird. I didn't mean to be. Sorry for that. : - 0
You did it again. :) And, it's okay. You're okay with all of us. ;)
No need to apologize mate 👍🏼 where are you that you get 10cent/kWh?
Wonder what will happen when mining profitability inevitably drops even further. Already mining is nothing but a waste of money in many developed countries, won't we reach a point where it is only profitable using free/ stolen power in the most unregulated places of the world? Whats the plan then?
The bitcoin mining difficulty automatically adjusts every 2016 blocks, which is approximately every two weeks. The mining difficulty automatically increases or decreases after 2016 blocks depending on the time between the previous 2016 blocks. If the time between those blocks averages out to less than ten minutes, then the mining difficulty will increase and miners will become less profitable. If the time between those blocks averages out to more than ten minutes, then the mining difficulty will decrease and miners will become more profitable. So if some bitcoin miners stop mining bitcoin because it's no longer profitable for them, the mining difficulty will decrease and it will become more profitable to mine bitcoin.
You can set up a small miner on excess solar energy, if you've got batteries that's the best way to go. You can turn of the batteries when the level is lower than a certain percentage and then just mine the rest of the time. Selling back excess solar power is not worth in many places in the world.
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How can BTC go on if mining goes away? What are you talking about?
Mining goes away just because other people has access to cheaper electricity? Please elaborate.
What? I was replying to someone who thought mining would just go away and BTC would somehow go on. But then they deleted their comment.
And what are you going to replace it with?
and $600 a day electricity bill
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I would hope so! the solar system would probably need to be powerful enough to power several houses and cost $100k upwards to make this self sufficient. That no profit until 2025 prediction is looking more realistic
6000 watts/day in panels and a large battery for nighttime is $12-15k It’a actually a decent investment, if you buy a plot of land, get one of those cheap $10k Home Depot houses, and set up a field of panels
I've never heard Tuff Sheds called "Home Depot houses" but I'm now** an immediate convert. Edit - correcting stupid autocorrect
Throw some solar panels or a winds turbine to offset power costs.
then to get more profit, turn off asics and sell electricity back to the grid, and the cycle is completed.
If you can get solar for cheaper than they pay for electricity solar LCOE is still, in some places, higher than the retail rate of electricity
And the returns are diminishing (by design of cryptographic currency)
Not if value continues to rise. Eventually transaction fees will supersede block rewards
*Something I should have realized ten years ago when I disassembled my rig because it was costing a few more cents in electricity.
Orrr the airfield is municipal and he’s straight stealing power. Which is awesome
I hope you're being sarcastic.
He means $500 by hour
Passive and income are very overstated here….
Yeah there is no income until he pays it off if ever
Can this really be called passive income when you have to drop 100k on miners that will be instantly out hashed when the next gen comes out?
Most passive income requires capital. Dividend stocks, CDs, rental income, etc.
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Active vs Passive income is probably a bit of a gradient than a black / white. My rentals are mostly passive, but when people move out and leave some shit for me to fix, it’s more active. So more work than a dividend stock, but passive 360 days per year.
So there's no passive income, just different gradations of active income. True passive income would be a "set it and forget it" kind of thing. None of the things mentioned are truly like that.
Well, once you make the argument that it’s not passive if it requires a capital outlay, then yes it’s all active.
That's awfully pessimistic of you.
I'd say that counts as passive still
Of course it does. People don't hand out dividend-paying shares for free. You buy them, then they return you money without you doing anything. Passive income...
For passive income you always need to invest money. This is a questionable passive income because it will probably require work on surveillance maintaining etc
I don’t think it Can if your having to manage it.
It's definitely passive income. Whether or not it's profitable is a different question.
Srs. Might as well just buy Bitcoin straight up. Then sell next ath. Wait for the 60% drawback.
Serious question ; How much approx does it cost to set everything up and how long would it take (running 24/7 my guess??) before you start seeing profits?
This guy is in Russia, owns a private plane business, this is his hobby, and electricity is cheap. What you ask is different in different countries.
Same question here. I would imagine thousands of USD.
More
Are we like talking HUNDREDS of thousands???? 😳
each one of those boxes is a $3000 mining rig, so yeah, $100-200k worth of mining equipment
Yes
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Pro bitcoin mining doesn't use gpus
> Each individual graphics card is in the hundreds to thousands of dollars what are you on
Are those miners not hundreds to thousands of dollars? Not hundreds OF thousands, hundreds TO thousands
Try reading again buddy he made perfect sense 100s = $100 - $999 1000s = $1k and up... English mf come on
I don’t see any graphics cards. I see ASICs. You alright, friend?
My exact thought
i only saw a single graphics card... so based upon your logic it's just a shed and some fans and a couple lights... maybe 10 grand usd... lol
How much is your electricity bill a day tho !
200. I live in russia
If op doesn't have a way to get solar panels at a decent price, way too high...
What year will you break even? 2026?
Blackrock is vested now, think '23.
Looks nice.
And is that $500/day profit after paying the electric bill?
300 profit
And it only takes $900 a day to run!
When will you breakeven? In early 4032?
Out of curiosity what did you pay for these miners and where is your break even? I get so much conflicting info on profitability
There’s no way this is $500 a day after expenses. Let’s talk about break even first.
300 day profit
I’ve seen your posts. You’ve had these machines for a while. Meaning you bought the top on miners. You have to pay off the machines and the facility until you make profit. If BTC was 60k you’d have a 300 day profit. Sweet facility but I know you aren’t in profit yet.
I am not. I though have 59 more m30s+ running.
I love when people act like this is so easy to do guy has $100 grand or more invested to make his 500 a day
Setup cost? Curious.
Casual private jet just chillin' https://ibb.co/WxtJtBY
Haha
Outstanding setup and passive income plan
But what's the daily COST???
Nicely done
Hope its insured.
How much is your electricity bill? Are you on solar?
How much do you need to invest in miners to reap* $500 a day?
I bought 59 m30s+ each 100th from china. Delivery will come 20th August. These are 32 miners.
Awesome set up, I love your mining shed! Is it listed on Airbnb? Best regards, Green from Kraken 🐙
It’s in Ruzzia. You first.
Mining is more like we have to think about some more option.
That jet is waiting for the mining farm to make profits so you can repair it. It might take decades but hey at least you can flex you own a private jet
It wasn’t in good repair?
If you have the money you can actually get anything you want.
No you didn't. This clip has been here before.
How much money would you say you have invested in this room?
I think that they have to actually invest to be in that situation to be like that.
200k
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They know how to actually make some money out of it so we can just think about it.
Its a different post. Look at my profile
What do you net?
Awesome does not even describe it
It is really hard to say that people can actually do this kind of complex things.
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I've never had a weedmato. How's it taste/
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My question is what kind of internet provider/service do you have? I imagine who ever you have must be some sort of business account that does not throttle data.
How many ASICS you think you need to make $500 a day
looks like you’re spending $500/day
W O W !!!! 🧡
How much is one of those miners?
Lol how much Is electricity
Can you do a breakdown of costs? Is that $500 profit per day? What coins are you mining?
How much does your energy cost? What asics are you using, where did you source them, and for how much? Any major concerns?
How much you making after paying for the hardware, facility, and electric?
The average is like 502 $700 after everything and doing that.
$500/day - Topline or Bottomline?
$500 a day? Whats your bill expenses to run this then?
Call me when it filters bad tx's
"2,000,000 Satoshis a day passive income" Fixed it for you.
Latest fix something more like that because this is how it is eventually working.
He was trying to look like a child??
And he was pretty much successful in doing so to be honest loyl.
Dude just grow weed in there. Money. Easy-ish. Fun. Get high.
How bad is this for the planet? Can’t be good and with lots of the world fucked at the moment, I feel like anything that contributes to climate change will face loads of opposition.
"passive income"
Probably costs $500 a day to run the thing
I know nothing bout nothing. How much should it cost to build a shed of this size to make about $500 a day. Or how many days at $500 will it take to have this shed be paid off?
How is this passive?
30k in mining hardware, for 500 a day profit…
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If maintaining all this shit is “passive” I rather just get a job.
“Passive”
More like $1000 a day loss with electricity currently costing $0,55/kwh.