Between Childress and Quanah- Bitcoin has bought property.

[91cavgt]

Cryptocurrency along with our fiat currency only holds Worth because someone says it does. If all the power went out tomorrow, no one is gonna care how much you had in your crypto account, or your bank account.

Property, a garden, and being out of debt are WAY more valuable in the long term.

[bobby314]

I don't know squat about bitcoin, And can't find 5 mins out of my day to care enough to learn.

[ram04]

Cryptocurrency along with our fiat currency only holds Worth because someone says it does. If all the power went out tomorrow, no one is gonna care how much you had in your crypto account, or your bank account.

Property, a garden, and being out of debt are WAY more valuable in the long term.

Add on top of that who make the computers and computer chips and wires etc.. if majority of that material says China good luck.

[Lynn21]

Close thread

[jshouse]

Close thread

Burt's still dead.

[MadHatter]

All that electricity, water and so forth these facilities need.....how much money are these places pulling in on an average mining day?

I have a customer running 70+ machines, currently he is mining a little over .8 of a coin every month.
At one point he was averaging 1.3 coin a month.
Electric bill is north of 16k monthly.

[trophy8]

I have a customer running 70+ machines, currently he is mining a little over .8 of a coin every month.
At one point he was averaging 1.3 coin a month.
Electric bill is north of 16k monthly.

That doesn’t sound like a very profitable business. What am I missing?

[MadHatter]

That doesn’t sound like a very profitable business. What am I missing?

I don't know that it is, just repeating what he told me.
900k invested.
He said he blew the first transformer on the pole, and I believe he said it cost close to 30k to have the electric company come put in a 100kv transformer.
Machines are 15k each and he keeps updating them.
So maybe it's currently not super profitable, but they are banking on the day BC is worth 100k or 250k each, in which case he will be holding a small fortune.
He's fairly wealthy so he's not using it to support himself.

[60 Deluxe]

The bitcoin miners are a ready made customer for the utility companies. They build close to the source of power, buy most of the production, then go off-line when the power supply gets tight like in February 2021. The best thing that I can see about this is that it helps build desperately needed generation infrastructure.

As far a the whole bitcoin idea, someone is going to get burned. It is not creating anything of real tangible value. I'll stick with greenbacks.

[PYBUCK]

I'm too old to understand all this crypto currency BS, but I am curious.

If you own 1 bit coin, and supposedly it is worth 35k more or less. Can you hold it in your hand and go buy something? How do you get paid in $$ for it? If I take it to a store and buy a coke, do I just scrape some dust off of it to pay for the coke

Maybe one of you techno nerds can explain it to me in layman terns.

Thanks
"Too old to change"

[Lynn21]

You guys gotta get your own jokes…

[Man]

I'm too old to understand all this crypto currency BS, but I am curious.

If you own 1 bit coin, and supposedly it is worth 35k more or less. Can you hold it in your hand and go buy something? How do you get paid in $$ for it? If I take it to a store and buy a coke, do I just scrape some dust off of it to pay for the coke

Maybe one of you techno nerds can explain it to me in layman terns.

Thanks
"Too old to change"

Touch it no, buy stuff with it yes.

[SC-001]

One getting built in Navarro county, anyone here know where in the county?

https://www.corsicanadailysun.com/news/bitcoin-mining-company-expanding-to-navarro-county/article_3d57b846-c65d-11ec-aa9f-433cdab92743.html

[SC-001]

Overall I believe bitcoin is chinese (communist) whale controlled and a resource dump/waste… it detracts from actual tangible use of power and production of physical product. It will aid to the cost of US energy to become sequentially higher in cost. A bit of a double or triple or quadruple whammy.

Now potentially adding to increasing land costs. Quintuple whammmy?

Ive a friend investing in leasing less than desireable gas wells, tapping to generators and plopping down premade bitcoin mining ISO containers for bitcoin generation. I like the idea of redirecting flare off for bitcoin production but use of clean power for mining … bitcoin is a resource dump and misdirection of wealth…IMO.

Man you got my wheels spinning, this is crazy

[SC-001]

https://www.nbcdfw.com/news/business/corsicana-bitcoin-mining-operation-could-consume-enough-power-to-light-200000-homes/2953134/