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cheap electric rate really helps, and you have to make sure you don't overspend in btc terms on the machine. certainly don't spend more than 0.2 btc on a new gen machine and even that's pushing it
for example a 100T machine right now earns about 45k sats per day. so a new gen machine bought at 0.2 btc would take like 15 months to ROI the btc but that doesn't account for electric cost and other capex. but that math can be done
that sats/day number has trended down recently as network hash has increased to all time highs. but as price dumps typically network hash is gonna trend down somewhat. not guaranteed. there are a lot of miners out there that have been sold but not deployed. supply chain delays in getting electric infrastructure done no surprise
I think my machines will end up ROIing at about 15 months and that's with electric
and separate conversation is if you elect to run as a proper business, in which you report on schedule C and deduct expenses. a couple miners at the house likely doesn't meet threshold and would be hobby income. But certainly opportunity there to operate as a business if you scale up a little bitComment
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This site is handy: https://whattomine.com/asicComment
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If I Google bitcoin price, it doesn't even give results anymore...
It just does a "Neeeeeeeeeeeeeee- Roowwwwwwwwwww- Woowww" noise?👍 1Comment
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If I Google bitcoin price, it doesn't even give results anymore...
It just does a "Neeeeeeeeeeeeeee- Roowwwwwwwwwww- Woowww" noise?Comment
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I'm starting to buy BTC now as the price gets close to the break even point for mining it. I'm planning to buy more every 10% drop. Not sure how much BTC will drop but looking at previous crypto winter cycle, it can probably go down close to $10,000.Comment
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during the terra/luna implosion tether redeemed billions in coins for actual dollars without issue.Comment
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When this thread was created (November 5, 2020), Bitcoin was passing the $15,000 mark. Today, Bitcion has dipped below $20,000, off from it's high of nearly $70,000. Is Bitcoin still early?👍 1Comment
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From the Wall Street Journal today:
"Bitcoin fell as low as $18,739.50 and stayed below $20,000 on Saturday, according to CoinDesk, losing 72% of its value from its high in November."
So there is a bitcoin market with active trading and public quotes 7 days per week? Are these published somewhere?Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.Comment
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I haven't read much of this thread or other crypto exchanges, so this may have been covered, but I ask in case any Bitcoin/crypto enthusiast is interested in stating the case (again?) for Bitcoin and/or other crypto assets:
Bitcoin provides no earnings, interest, or dividends, and does not produce anything, which is why Buffett assigns it a value of zero.
It is also clearly not an inflation hedge, and it's not a stock market hedge, as demonstrated this year.
It isn't a store of value, and it isn't suitable as a currency, because it is extremely volatile.
I understand it may be of some use to criminals, but that isn't much of an investment case.
So, what is it that makes it of great value?Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.Comment
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