Oddbean new post about login | logout chance to get 3 S19 pro for 1750.00. Can host at $0.07kw/h does it seem worth it? If I host they take 5% monthly. I'm awful at math and want to make sure the numbers are worth it before I do it. I also don't want confirmation bias and would like someone to crush the idea using math and show me why I should or shouldn't take the offer.
do these machines even exist or are your being scammed?
That's a fair question. I would say yes. It's with a reputable mining company that I host with now and they're paying out the way they should. I asked them if they had used rigs for sale. They didn't approach me. If that helps
"Approach" is an irrelevant term... They've probably been cyberstalking you and you think that you "discovered" them... The internet machine is terrible!
yeah but scams are at a high level these days. Verify, don't trust 😉 If you're confident, do ONE purchase not a bulk order. If it's too good to be true, it generally is.
I changed my mind last night and not going to do it
due diligence is one hell of a drug https://image.nostr.build/0b2c18ec3c195eebf3a6e6296dc1d4ac1f225c5f4c01e0a4fb54952d0f68d248.jpg
May I ask why?
Just had a weird feeling and enough people recommended against it. If I can get the price lower I will. Looks like at current prices I'd be paying out around $2.00
I heated my greenhouse with the old S9 I bought. Trying to engineer a solution to heat our chicken coop with it this winter. This is how I justify its use.
That's sweet. I'm in Fl so winter's not too bad. I have an s9 I'm going to be working some projects this winter when I have more time though
I'm in FL... Nice humble brag!
if i could figure out how to use it as AC I would have 15 of them lol
Now there is an idea. Use the heat generated to power AC...
Three S19 for 1750 total or for each. I’m not familiar with what you are calling hosting. What does that mean. If you can use the heat for a purpose then you are much better off. Last time I looked seriously at mining my observations were you should ask yourself if you can mine a bitcoin for less than you can buy it on an exchange . You are buying it either way, once through electricity and hardware and time and risk the other through trading currency. When I looked at it before it seemed cheaper to just buy it. But if you want no kyc and or you just want to learn something these can be added to what value you are going to get out of it that may make it worth it. I have an s9 I will still run as a space heater this winter.
they are hosting the rigs and managing them. They are doing the work. I'm just paying to play with the hardware
Not your custody => not your rigs. Not saying they'll literally rug you, just fudge and double-dip; and you'll never know. Everything else about this scenario is potentially managable except that.
I’ve been down this rabbit hole many times. You can do the basic math and simply see if hosting the 3 will net a profit after you pay them for electricity and then 5% or whatever but even that will fluctuate depending on the current price of Bitcoin. Another way to look at it is future value. Let’s say you break even if BTC is at 65k. But if you hodl whatever you mine until the price of BTC doubles, then if you do the math at that point it “was” obviously more profitable. My personal opinion is if you can afford to run a miner do it. If you can pay the electric bill and you don’t need to sell some of the Bitcoin to pay that bill, it will be worth it in the long run. You’re also strengthening, and participating in the network which is always a good thing. Sorry for the lengthy comment, but I hope that helps. Feel free to reach out if you wanna discuss it more.
☝️this is a good note. Buying BTC & HODLING will be more profitable & less of a headache at this point. Run a node to be a good BTC citizen. Non-KYC is a fallacy. It’s not a good reason.
S19's are being scrapped in droves. Unless you need heat or unless you've got solar panels, then probably not. As fees start to increase that may change. Not professional advice. DYOR
