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0 sats \ 0 replies \ @kent_halliburton OP 23 Oct \ parent \ on: I’m Kent Halliburton, CEO and Co-Founder of Sazmining - AMA! AMA
I'm not sure if there's a question here or if it's an LLM rhetorical ramble?
Earning client trust. There's no way for me to have possession of property clients own without it being a high-trust relationship. Unfortunately, many traditional hosting players have abused that trust, making many potential clients understandably skeptical.
And it's a good answer.
Typical industrial miners aren't less than 3500W each at this point, though they can be underclocked.
There's no way to manage our clients' property without establishing a high-trust relationship. Optimizing that trust has been our highest priority.
To answer you question directly:
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Our SaaS platform is built from the ground up on rig ownership tied to individual rig serial numbers.
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Our user dashboard displays average 24H rig hashrate, which ties to nameplate manufacturer specifications.
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We have a Rig Performance guarantee. It's 95% in Ethiopia which means that you'll receive 95% of the nameplate hashrate from the rig you've purchased over the next year, or we'll compensate you in service fees to make up for it.
Love taking all these questions - lots of good feedback I can bring to the team as I continue to spread the gospel of mining.
I've got to go now, but my DMs are open on Twitter/Nostr if anyone has any further questions (or if this AMA wasn't in your time zone).
Links are below and also on my Stacker News profile:
Twitter - https://x.com/khalliburton
Ha! Indeed -- Portugal's more than just an inspiration for Saz, though. Since I married into the culture, I acquired citizenship and have Portuguese children as well :)
Yeah, I get it -- living in the Sintra area and trying to mine from home was one of the inspirations for building Saz!
Bitcoin accumulation and profitability.
There are three primary ways to generate income in this type of model. 1) marking up hardware, 2) marking up service (electricity + maintenance), or 3) participating in the mining rewards.
Optimizing for trust in this business model was my core focus, so we tied our fate to 3), which we call our Management Fee, i.e. we're a property manager.
What that means is that Saz only earns revenue if it's generating Bitcoin for its clients. Hardware and service are passed on to clients at cost.
For Saz, that means we generate Bitcoin natively as our revenue source. It also means that we don't bear hardware and service costs to do so. That means we can build a Bitcoin native treasury at lower costs as we scale, since our internal expenses don't scale linearly with the management fees we earn.
Everyone benefits in this way, and trust is established. It's my strongly held belief that this is why we have a 4.7 TrustPilot score.
The most surprising thing I've learned is the disparity between the mining community and the bitcoin community.
If you go to a Bitcoin mining event, you'll rarely meet a Bitcoiner. If you go to a Bitcoiner event, you'll rarely meet Bitcoin miners. The separation of these two communities causes 'othering' in both directions, which is unhealthy, given our desire for Bitcoin to serve as our ledger of accounts for the next 1,000 years.
That bitcoin mining is the best way to accumulate sats, full stop.
Most of the hashrate on the network is dedicated to accumulating bitcoin as a means to acquire more fiat currency.
How do I know? Because if the majority of the hashrate on the network were held by bitcoiners, we would not have allowed the mining centralization issues to have occurred in the first place.
You can sell your rig to a 3rd party (possibly us), have it shipped, walk away from it, or pay to have it recycled.
For resells, we have a client-only Telegram bulletin board. For shipping, it depends on where in the world you're shipping to. Most clients opt for reselling.
Share my Center of Hash podcast with Parker that I recorded last week: https://www.youtube.com/watch?v=JRd_IxYZiAg&feature=youtu.be&themeRefresh=1.
I share my story about transitioning from solar/renewables, where I worked for a decade, to Bitcoin mining.
One of my favorite questions. Answer: ROI.
Why?
Bitcoin mining is a novel, 0 to 1 innovation -- the first time in human history we have a decentralized money printer.
It's a simple idea but something most gloss over but: Bitcoin mining is the only way to generate bitcoin
ROI is an evaluation of dollars in on dollars out. Why does it make sense to consider the ROI on Bitcoin mining if it's the only way to generate Bitcoin? It doesn't.
What does make sense, as a bitcoiner, is to evaluate if the sats mined are cheaper than if you purchased them on an exchange, which is a price comparison.
I mean, I'm a bitcoiner, which means I'm all about following the incentives. And any incumbent being disrupted is going to fight the disruption.
So, are the incentives there for the energy center to squash free energy alternatives? -- definitely. Are there free energy alternatives? -- I haven't seen them and don't know.
Hey!
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The countries are the locations of the data center.
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I'm a late stage co-founder, having joined in 2021, raising capital and pivoting to the existing SaaS for mining offering. Being educated as a computer engineer who went into roof top solar for a decade, it wasn't until I read Jeff Booth's The Price of Tomorrow_ that I realized I belonged in mining. It was frustration with trying to mine from home (Portugal at that time) that made SaaS for mining seem like a no-brainer to me.
Welp, I live on the outskirts of a city of a couple of hundred thousand, so it's not totally the middle of nowhere. However, I do rely on Starlink for more consistent internet for work and node running.