AQUAMAN

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About AQUAMAN

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    Formerly Bakez

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  1. What really are they supposed to do though? Wait for 5-10 years for a 50% house price crash? By that time they will have wasted nearly as much money in rent.
  2. And yet total BTC hash rate was 76.5 EH at the start of this thread. Now it's 98.5EH. Not factoring in this is just so dumb and it's all over these share price messaging boards. A lot of these people will be in for a big shock when ARB release what they mined in Aug/Sept and how little money is left after the CAPEX
  3. Just buy one from myprotein + the instant oats. Mix it with full fat unpasteurised chocolate milk and 25g of peanut butter Tell him to skip the gym sessions and buy Starting Strength by Mark Rippetoe. Do 2 sessions a week of that instead.
  4. Interesting BITF update https://web.tmxmoney.com/article.php?newsid=7254229073797792&qm_symbol=BITF Theyve bought slightly worse miners but seem to have got them for about $1000 per unit, rather than $2000-2500 per unit which ARGO pays for their S17s
  5. I think in the long term you have to compare it to Gold miners BTC will probably become some kind of 'safe haven' like Gold is, even though it's useless. Don't some of these big Gold miners have several hundred million losses and several billion market caps?
  6. These articles don't take into account the increase in BTC hashpower. It has nearly doubled since May. ARB generated approx. 80 BTC in May with 1025 S17 in production by the end of the month 161 BTC in June with 1809 S17 in production by EOM 163 BTC in July with 2269 in production So between June and July they increased their machines by 25% for a 2 BTC increase. Even though I'm FUDDING I still bought close to 10k shares last week. They do seem the best of the listed miners. Not that any of these figures will matter if BTC goes to 100k But their CAPEX is going to be so massive just to keep up their proportion of the hash power it's going to be tough to survive. They are competing against mining farms whose CAPEX is 1/3rd since the likes of Bitmain make their own ASICs
  7. Yeah I dunno why games wouldn’t just do this themselves
  8. Yes it was definitely a huge moral misjudgement to not get involved in a pointless war and thank god Sweden is so cucked today to try to make up for it. They never will though, no amount of virtue signalling today will make up for not carpet bombing the Nazis
  9. Total revenue paid to miners per day: approx. $20m https://www.blockchain.com/charts/miners-revenue?timespan=2years&daysAverageString=7 If it actually stays that way and ARB manage to achieve and maintain 1% of the hash power, they should be generating approx. $200k a day. Straight after the last halving, the total paid to miners per day dropped about 30%. Not sure if it looks so good now. It depends how much they have to invest to maintain at least 1% of the hash power. Hash rate may well have doubled between June-Dec this year so even the expansions are not really expansions but just really to maintain their position
  10. Seems like ARB and BITF are the better out of the bunch There's also the dependency on Bitmain hardware. Bitmain are probably selling the miners for 3-4x manufacturing cost to the external companies which automatically gives their own farms a huge advantage, especially in any crash.
  11. This could be like buying Gold miners in the 80s. An absolutely huge return but when you look at the charts you don't see all the ones that went bust and everyone lost money on along the way. There's still a huge risk because we don't know what will happen when the block reward goes to 6 next year, and then 3, etc. Will other coins come to dominance in the strategy, will the transaction fees go so high that Bitcoin is useless, will overall hash power drop huge amounts, maybe Bitcoin increases in price and it doesn't matter. I think for sure next year some of these publicly listed miners will go bust during a sustained crash in BTC. I don't think they can just 'turn off the miners' since their electricity contracts probably stipulate that they have to buy X amount over X years.
  12. We don't know how we calculate their margin. Whether they just include electricity or other running costs. I'm just assuming it's worse case scenario. Interestingly Bitfarms have the S17 listed on page 12 on their financial results: https://www.bitfarms.io/app/uploads/2019/08/190829-Q2-2019-Financial-Results-Final.pdf They show the same approx. 80% margin on that and then 66% on S9 which fits with both company results. Also Bitfarms claim to be expanding to at least 2000PH over the next year. They don't say what miners they will be buying other than it will be a mix. They also have $20m debt to pay in 2 years. I think there will be a lot of lead and lag in this. One year one company will have an advantage, then their machines get old, lose their advantage, upgrade, repeat cycle. It's a difficult calculation to make in the long term whether it's better to buy the most expensive miner and suffer the depreciation/extra cost vs. buying mid range.
  13. "The Company generated 163 Bitcoins (BTC), or £1.36m of cryptoassets, in July based on a BTC price of US$10,122 as of 31 July 2019. The assets were mined at a mining margin of roughly 80%" So it costs them about $2k in electricity to mine each bitcoin
  14. I've worked this out ARB have bought Antminer S17. The others are using different ASICs. This makes them more efficient per MW but they are by far the most expensive chips, so after everything is taken into account their margins might not look so good.
  15. HIVE work out of scandinavia, apparently I also think ARB they might have added their SH256 hash and Equihash on their homepage together, and then divided it by MW. The number comes out close to what they say on the graph