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  • Technology

    Bitcoin mining rig could be tenant substitute

    Thanks for your reply, there is a whole page on the presentation using the £30 per day figure to calculate ROI times.

    I take it this is an old presentation not taking into account the current state of the market?


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    Correct Ben. I only posted the video to give people a general outline of what it is we do. Taking everything into account our customers are earning around £200 per month mining, which is still a strong ROI considering the market is low at present and of course the actual cost of the machines when you take off VAT and any other allownaces such as R&D and capital investment allowance. Any upturn in the market, as expected by many, will obviously see this monthly income go much higher. Of course the coins can be kept till such at time if the miner so chooses as opposed to cashing out regularly at the current lower value.

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    well, £200 a month is very low, basically a 10k rig makes profit after 4+ years? I know there is the growth in the coin you mine, but if you buy 50% BTC and 50% good alt coins for £10k, then your return is way more than you can get from these machines, imho

    happy to be corrected, but as it stands, I would not really go through this hassle (buying, mining, managing, etc)

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    Once the video card is not powerful / fast enough to generate more than $1 per 24 hours per computer, my brother sells them off second hand and they has very good second hand value to ordinary computer gamers as they would still be top of the range video cards.

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    That's interesting about the dip in payback from the graphics card.

    I can now see why these rigs make so much heat and degrade over time.

    Just like real mining say for gold, the whole process is very intensive (this time in electricity).

    It has made me start thinking about real gold again though as an investment!

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    what you need to weight here is spending £10k on a rig, or spending it on a coin very likely 5x-10x in the future.

    I almost bought an ASIC 3 years ago for $12k, then I ditched the idea and bought bitcoin instead.

    but it is still a good way to hedge imho


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    Hi Pete

    The advantage to mining with out gpu machines is that you can mine the most profitable of the 800+ mineable coins at any one time.

    ...or go for the one you think is going to fly, hold it and watch it go. Can mine some coins before they are available on exchanges. Higher risk but higher reward .

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    The processing power required to verify each transaction increases over time due to the total number transactions constantly on the up, hence each hardware has a limited life.

    Should calcluate the shelf life and include this cost of replacing hardware as an onging cost.

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    Thinking about it a little bit, as more btc is bought its value dilutes, and as the number of transactions ( since conception ) increases in the block chain, as the block chain gets larger,  the cost to process a transaction therefore increases because more processing power is needed.

    If this continues won't the value of the transaction continue to reduce but the comission paid to do the transaction ( due to the cost of the ever increasing hardware power needed  Wink increase so it becomes non-viable to transact ?

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