Of course it's warranted. Ideally we'd have a bitcoin thread for daily news, a thread for network and layer 2 topics/troubleshoot, and a bitcoin mining thread, and even a 4th for ancillary bitcoin investments like this.

But I'm a hooligan and enjoy such tomfoolery.

Admin errors, I'm just going to take a guess and assume you believe in owning BTC as opposed to mining company stock.

If you're interested in mining, you should get a miner, and learn.

Investing in mining companies, to me, is such a passive action, ceding the responsibility to someone else.

Maybe in the process of learning you decide "I should raise money and get investors for this *****" Or "ive found a new way to do heat transfer for minimal system energy loss!" Or "ie found a new way to build mining hardware that's better than ASICs"

That's my personal belief. And I state this as hypocritcally as I can since I've only ever briefly mined with a laptop many many moons ago.

We are all flesh puppets with quantum computers attached, when all of us are directed to the problems, and completely understand the finer details, at hand the variety of solutions that appear are amazing. Even in the short time frame we've seen tremendous innovation.

Why outsource the thinking of your amazing quantum brain to some aggregate? Even if you don't make anything spectacular, you can still be an important voice or contributor in some way shape or fashion..



Take the money and invest in yourself, become a more rounded person, a contributor to the ecosystem. Fiat is infinite but your attention and energy is exceptionally finite

ac04 said:

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tysker said:

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well then it's a good thing you're not responsible for other people's money

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that's a cute comment, but actually i am responsible for managing a nine figure annual budget line for a fortune 50 company. not sure how that's any of your business or in any way relevant to this thread.

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and your bitcoin wont be your kids money unless they have the private keys right? how and when are you transferring those private keys to your kids? gifting the BTC themselves would create a taxable event and counter to the spirit of the asset

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my estate planning is also none of your business. you are grasping at straws now so i think this conversation has run its course.

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What the hell man?

When does this entity start adding bitcoin to the treasury? Stop the lollygagging on here, bro, you got to do work!

Q2 or bust!

i didnt mean to offend. you're the person that posted

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even though i have to *gasp* take some personal responsibility for securing it instead of relying on someone else to do it for me.

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When you are responsible for other's people money, as you clearly seem to be, you understand many of the intrinsic risks to BTC are still too high for many money managers and other fiduciaries (ftr i hate that term) to engage in the product.

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in my opinion bitcoin represents the most favorable asymmetric risk/reward opportunity that exists in any asset

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if this is the case, why anyone wouldn't load up on BTC, is beyond me, unless its a word smithing hedge implying all assets simply have lower risk/reward. what happens to BTC if the fed raises rates 4 times this as GS suggested they would? some of that asymmetric risk certainly becomes larger

Serious question: are you high?

I have no interest in mining, just making money off a passive investment.

Learning mining sounds good and all, but at some point you have to realize there are organizations far ahead in research and development. Better to pay the professionals. Mining on small scale will soon be a futile effort with the massive mining infrastructure being built.

CaptnCarl said:

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Admin errors, I'm just going to take a guess and assume you believe in owning BTC as opposed to mining company stock.

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still some company and stock specific risk there. how do you know the financials and hashes they claim are real? due to convexity of the curve of crytos, the real risk/reward may be in the variety NFTs. certainly a derivative play but you instantly see which coins have value and which do not

I'm just relaying the actual happenings in the industry.

If that sounds like I'm high and you're sober, well... reality hurts stupid passive people.

That being said I've been using psilocybin/psilocin for awhile now and would recommend the same for you so you can grasp this reality.

Your disrespect is noted. Good luck.

I did not mean that as disrespectful, and it sounds like the answer may be yes from psychedelics. Maybe 'high' has a negative connotation.

I have many hobbies I am 'active' in, so by default, I am passive in others. I'm interested in learning more about BTC, but choose to not let it consume my full attention.

Posting this here for the charting nerds. This is Fidelities Director of Global Macro.

And here is Bitcoin relative to my demand model. It has overshot many times in the past, sometimes by a little and sometimes by a lot. Based on these fundamentals, the lower Bitcoin falls, the more undervalued it will become on a fundamental basis. /3 pic.twitter.com/NeC4AE7p6R

— Jurrien Timmer (@TimmerFidelity) January 25, 2022

I'm friends with an HVAC repair guy in my area who came and talked about mining with me and I encouraged him to attack it

He got funded 1/2 million and away he went. This all went down in like 4 months, from conversation to funding, i was floored.

I don't pay attention to the large public mining companies too much. Centralizing efforts will nearly always be a negative to me.

Others will be better at answering your question. I'd rather you invest in decentralization starting as locally as possible. To each their own.

As mentioned previously, I deal with multiple different crypto miners everyday at the COO level. The crypto mining projects I am working on are +$25mil just for infrastructure and not including miners. Half a million cannot compete when these major mining companies are raising $400 million (US Dollars) to deploy tens of thousands of miners.

These major miners are also receiving major ERCOT discounts, so their terahash/second per KWH is lower than your HVAC friend.

Ah! Forgot that about ya!

Yeah the facility outbhere got funded, and now has umpteen solar panels with a partnership with or electricity co-op. Maybe they got more funding over time. I was just impressed at the speed of that development.

How I forgot what you did:

pic.twitter.com/FUU1rXNmbx

— Christoffer De Geer ∞/21M (@ChristofferDG) October 15, 2021

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These major miners are also receiving major ERCOT discounts, so their terahash/second per KWH is lower than your HVAC friend.

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Its like PFOF but for mining. Miners are taking the liquidity but because they do so with such high volumes and consistency, they can (and should) receive discounts

Other than extremely small scale used solely as a learning experience and recognizing it will never net any value, I agree small scale is gone. I see only industrial scale working, with limited smaller scale niches like using vent/flare gas. I have a decent position in MARA.

Wonder if the Marcellus guys could figure out a way to use their gas to bitcoin mine? Know the takeaway capacity up there holds them back significantly.

Oh yes I do agree that it will be a messy and not fully consensual transition period. No doubt about this.

I'm just hoping to be out in front of it on the correct side.

CaptnCarl said:

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Maybe this is for another thread, but not sure another bitcoin thread is necessary.

What is some of y'all's perspective on investing in mining companies on NYSE vs buying bitcoin? Obviously the pro is the mining company mines the coins for 'free' minus the capital and operational costs. Some are mining around 1 BTC/hour right now.

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In my opinion, investing in the stock of a BTC mining company is a murkier method of exposure to BTC. Why wouldn't I take out the multi-variate nature of human capital/overhead, mismanagement, and likely stock/market manipulation and invest in Bitcoin itself as a much more straight forward vehicle.

Unless you are talking more of a short term time frame in the hopes that the mining company is either acquired or the stock pops early and you take profits.

Just my $0.02

I think one avenue at retaining some decentralization of the hash is the majority of homes in America spinning up a ~75 TH ASIC and letting it churn away.
That's not remotely realistic currently due to cost and other technical / ease of use barriers but maybe down the line it would be almost as normal as your hvac unit. Maybe Saylor or some other BTC whale could setup a non-profit for advancing the movement through free technical consulting and repurposing older ASIC hardware for recycling credits.

Wild thoughts for wild times.

topher06 said:

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Other than extremely small scale used solely as a learning experience and recognizing it will never net any value, I agree small scale is gone. I see only industrial scale working, with limited smaller scale niches like using vent/flare gas. I have a decent position in MARA.

Wonder if the Marcellus guys could figure out a way to use their gas to bitcoin mine? Know the takeaway capacity up there holds them back significantly.

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I own some MARA as well. Field gas is tough economics because the turbines need pipeline quality NG, and still aren't as efficient as dual cycle generation plants. These large portable generators can do almost 5 MW. The major crypto miners are developing around 400 MW per site and participate in ERCOT so their energy costs are much lower.

I wouldn't even know where to begin to buy a miner, install the thing and then how to actually start the thing mining a coin. I might actually do it for fun if it was easy, just to see the process actually work. Are there particular miners that are actually available and don't suck at the moment? I know I'd get eaten alive by electricity, that isn't really important though.

Mays just put on a mining seminar, maybe start there.

Anything worth doing....

How long is it. I'd be looking to do one machine, so not willing to invest a ton of time for what will ultimately be a money-losing venture (my goal would be to see this work as a hobby, with I guess a side benefit of supporting decentralization). Also, how much data do these things use? I have the ****-ton-of-data plan, but I have no idea what a TH is or how that translates to data.

https://www.reddit.com/r/BitcoinMining/
https://www.reddit.com/r/cryptomining/
https://www.reddit.com/r/ASICMinersTalk/

1) you will likely need to run off a 220v receptacle; You'll probably want to check your breaker box to make sure you have adequate head room to load the circuit before use.
Youtube/Rumble/Odysee will be your friend here if you pursue.

2) Plenty of used Bitmain Antminer's floating around now with lower hashrates if that is your angle.
https://www.asicminervalue.com/ has stats/calculators for specific hardware once you narrow it down that will give you some insight into hashrate vs noise vs power consumption (which will also translate into electricity cost).

3) Once you get the hardware you will need to go through some software config/setup.
I'd recommend https://www.nicehash.com/ as a good resource for beginner info & user friendly setup tools.

Another mining/bitcoin event in Houston, our board's own Matt Lohstroh is speaking at.

https://www.linkedin.com/events/empower-energizingbitcoin6885285069427130368

Gig'em!

topher06 said:

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How long is it. I'd be looking to do one machine, so not willing to invest a ton of time for what will ultimately be a money-losing venture (my goal would be to see this work as a hobby, with I guess a side benefit of supporting decentralization). Also, how much data do these things use? I have the ****-ton-of-data plan, but I have no idea what a TH is or how that translates to data.

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I've been looking at www.compassmining.com lately.

ThreatLevel: Midnight said:

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https://www.reddit.com/r/BitcoinMining/
https://www.reddit.com/r/cryptomining/
https://www.reddit.com/r/ASICMinersTalk/

1) you will likely need to run off a 220v receptacle; You'll probably want to check your breaker box to make sure you have adequate head room to load the circuit before use.
Youtube/Rumble/Odysee will be your friend here if you pursue.

2) Plenty of used Bitmain Antminer's floating around now with lower hashrates if that is your angle.
https://www.asicminervalue.com/ has stats/calculators for specific hardware once you narrow it down that will give you some insight into hashrate vs noise vs power consumption (which will also translate into electricity cost).

3) Once you get the hardware you will need to go through some software config/setup.
I'd recommend https://www.nicehash.com/ as a good resource for beginner info & user friendly setup tools.

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Is there any company out there crowdfunding miners?

Similar to like a Fundrise type company, except your money would just go to building a bigger pool of computers, and you distribute the coins earned accordingly.

Well, yes and no.

No: A hybrid of the method you've stated is called hosting; This approach requires you to purchase a machine and the hosting location will set it up at there farm with terms for electricity rates and management fees predetermined in the hosting agreement. This is a more passive method and may be suitable for some in areas with higher electricity costs.

Yes: in the sense that pooled mining is achieved via single machine home miners or small scale miners typically configure their mining rigs to contribute to mining pools (the hash is pooled) and then when a mining reward is earned, it is distributed to the pool based on the amount of contribution by each miner/mining rig.

So rather than contribute funds and have a third party purchase the hardware and configure the solution as is allows you to select from different pools as you see fit based on your desired criteria/specific setup. I know this is the more active approach and will likely intimidate/alienate some potential miners but I would say ~$500 spent on purchasing a cheap ASIC miner and learning the ins/outs is likely better spent in the long run regarding foundational knowledge.

In reality at this time due to the sizeable investments being made by Startups/VC, the likelihood of making big money mining is decreasing rapidly. Taking this into consideration, hosted mining likely yields little if any profit and little if any increase in knowledge so I would personally ease into the mining world with a single pre-owned ASIC from a previous generation and go from there.

The compass guys have a podcast that is pretty informative for those so interested.

They buy & resell pre-owned machines which I think is an underserved emerging market as there are a TON of scam sites out there and with most manufacturers being based out of China/Taiwan, etc. it's difficult to differentiate between their legit website and cloned scam versions. Biggest giveaway is always too good to be true pricing.

HOW INTEL'S ENTRANCE CAN CHANGE THE BITCOIN MINING LANDSCAPE

Lots of smart people have said, "you can't taper a Ponzi scheme."

As I understand the situation, the Fed can:

1) raise rates such that a lot of debt will become unserviceable; or

2) keep the money printer running and leave rates low such that hyperinflation is inevitable.

Am I understanding this correctly?

Inflation rages while the Fed prints

I won't dive too deep here as this is the BTC thread but I should have mentioned two other recommendations that may be more appropriate bas d on levels of experience.

To work your way up to asic Mining:
1st:
start by mining monero on the CPU of your home laptop/pc. Your machine likely isn't fat enough to yield any tokens but this is more for the experience getting the mining software configured.

2nd: try mining a little known altcoin via older nvidia /and GPU. Check coinwarz/miner stat for some of the lesser known alts that can be mined by older GPU.

If you can do either (or both) of the above then you can figure out ASIC mining.

AE,
Your work is done here.

https://texags.com/forums/16/topics/3272138

Like a proud papa I'm sure haha.

I emailed you. And yes.

Super FKN proud.

(just got off a 24 hr ban for "bypassing the obscenity filter" because apparently it takes 2 flags to make fkn a bannable offense.)

Now that yall can stand on your own I can work towards my permaban, just like my prior identity, wheelskjm.

https://www.cnbc.com/2022/02/12/23-year-old-texans-made-4-million-mining-bitcoin-off-flared-natural-gas.html

Great story about some Aggie Bitcoin miners thinking outside the box and creating a lucrative business opportunity out of thin air.