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80 sats \ 0 replies \ @KaboomracksAlex OP 26 Nov \ parent \ on: Tales From Shitcoin Mining/A crazy fad that hopefully pass bitcoin_Mining
Yep. I don't know if it will be the shitcoin supercycle. They seem so much less relevant this time around. Memes coins are flipping projects that people have actually attempted to work on.
It will only be a shitcoin supercycle if Trump starts buying shitcoins for the strategic reserve.
Think about how stupid that sounds lol. "The US Bitcoin and crypto strategic reserve."
Definitely an increase in demand but not from retail. Retail should probably stay out of the market this cycle
I get people who reach out to me all the time trying to sell small amounts of miners, and the market is too rough for us to be able to offer them anything for it. I will definitely refer people over here for those types of P2P sales. I think they will find it attractive
Hey I appreciate it and might participate there at some point. I'm not wanting to post stuff in the territory because I work for a compliant company that is not a respecter or promoter of the Agora, but I love what you're doing
The newer 21 generation miners are profitable. Depending on what difficulty and price does, it's not guaranteed. Older 19 series miners not so much. All of this changes if and when the price runs up.
When you are mining in the bull market, it becomes extremely profitable. I would love to discuss more, and I kind of assume I'll try to talk you out of it if you reach out because it's going to be more difficult for smaller scale miners to be successful going forward.
You have the ability to with the larger deployment strategy. We are open to it, but it's not standard to do so. Typically, when hosts shut down miners, it just means they mine themselves with it and don't bill the customer.
We have to hit power targets so it's really not ideal. I wouldn't count on us doing it for smaller deployments.
The key is working with people who have reputations. It doesn't guarantee a good experience but definitely lowers the chances of a bad one.
Yeah you generally don't know how durable or good a model will be until it's ran for a year. How long the lifetime of the equipment is completely unknown. Estimating failure rates is incredibly difficult because it depends largely on environment, but also quality.
A good portion of the world doesn't have the repair infrastructure the US has. The warranty is pretty much useless in most countries, which requires sending units back to China/US to get repaired which makes it really difficult unless you are operating at scale and can do repairs yourself.
Mining is a major headache
People take all sorts of risks all the time, largely due to not understanding the market. People are generally only willing to take the risk if the price seems attractive enough.
The main risk people take on in the bull is overpaying for equipment in general, and getting in bad power contracts.