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1650 sats \ 10 comments \ @cyphercosmo 13 Dec devs

I won't bore you with my story, suffice to say I worked for almost 2 decades building digital products for startups, and big companies.

I might be tripping, but I realized that with #bitcoin, #nostr, and #lightning I never have to find a job again, I can work here with/for all of you. I really hope more developers realize the same.

Here are the ways I found to make money this week:

Engage on SN
Bitcoin mining through https://rigly.io and a mining pool
Help develop SN (they pay bitcoin for contributions) and other initiatives in this space do the same
Create a product (mvp or whatever) and apply for OpenSats grants
Engage on #nostr and get zapped (zap stream, olas, or just text posts like this one)

I could go on, but the truth is that it has never been as straightforward for me to make money without jumping through 10 hoops and somehow giving in to big tech or the government.

Carpe diem, keep on buidling, reach out!

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100 sats \ 1 reply \ @Akg10s3 13 Dec

I'm going to take your link https://rigly.io since I want to learn and venture into the world of bitcoin mining... but I still haven't dared!! Thanks for your contribution Don't stop posting👌

0 sats \ 0 replies \ @cyphercosmo OP 13 Dec

It's pretty cool actually, I've been curious about mining for a while and recently bought a BitAxe (should be delivered soon).

But I wanted to try this product and I enjoyed playing with it.

200 sats \ 0 replies \ @siggy47 13 Dec

Fantastic way of looking at it. I hope other devs see it this way too. I guess it is a bit of a financial risk at the beginning, so having a nest egg would make the transition easier.

0 sats \ 1 reply \ @NunyaBidness 13 Dec

Good to see you here, sir. Followed you on nostr.

0 sats \ 0 replies \ @cyphercosmo OP 13 Dec

Thank you, followed back ;)

0 sats \ 1 reply \ @GregAsks 13 Dec

I don't use any other social media... 💪😎

1 sat \ 0 replies \ @cyphercosmo OP 13 Dec

Me neither :kappa:

0 sats \ 2 replies \ @evanbaer 13 Dec

Nice. How was your Rigly experience?

300 sats \ 1 reply \ @cyphercosmo OP 13 Dec

That's a great question! I got super excited about it, when I read your story with your business partner which it's pretty much what I am/was going through I immediately wanted to give it a shot.

I must admit the "miners prefer to get the money upfront" doesn't make complete sense in my head, would you care to elaborate why is that a better deal than mining it themselves?

Continuing, I was able to complete pretty much every step/process but there were a couple of glitches in the hashrate delivery. It could have been worst if the support didn't work, but then you (one of Rigly's founders afaik) helped me pretty quickly and then I got what I paid for. Enough to recommend you publicly on SN.

I believe as you continue to mature the app and bring more auctions/supply it will grow into something that has benefits for the parties involved.

11 sats \ 0 replies \ @evanbaer 14 Dec

Glad you had a good experience.

Re: miners and payment upfront -- the Mining Farm needs an incentive to send the hashrate elsewhere vs mining themselves. To create this incentive, the buyer can either pay a premium or pay upfront.

There's already 2 hashrate markets where you can buy hash at a premium -- on Rigly we let the Mining Farm get paid upfront (50% upfront, 50% held in escrow during delivery)

For the farm, getting paid upfront allows them to expand faster:

They can buy new ASICs
Mining farm starts mining w/ new hardware right away

And then, if they choose to list this new hashrate on Rigly, the cycle can repeat over and over again.

This way a small or mid-size mining operation, with limited access to capital, can grow by selling their hashrate p2p to bitcoiners who want to secure their network (and earn some extra sats in the process)