Bitcoin Forum

Hello,
    I have acquired over 250k to the project and am stumped on which miners to purchase and the space to put them in. I fully understand the heating issues, and space is not an issue, but any type of advice is quite appreciated.
      Cheers

You can't buy knowledge. Spend a few dozen hours educating yourself before you proceed with your venture.

Depends on your electricity rate, if you already have a datacenter-like setup to place the miners in, etc. Maybe give us more details on your situation?


I'd sell my knowledge :P Consultants and specialists get paid for it all the time. Of course, this is a lot of money to entrust into some dude on the internet.

You should invest in people, in project manager, maybe running a startup competition and fund the best one, this is a good idea too.

You can pay me and I will teach you.

Trust me it never works out.  I have had 3-4 of these start ups that come to me though PM and ask about a start-up and want info.  Almost all it is not cash they have but cash they are asking if they had.

The first one I thought what do I have to lose? Anwser is time... so many questions and in the end no pay as it stay's in planning.   The other ones I have gauged seriousness and they just were not even up to par.

I suggest anyone thinking this is a great idea to advise... skip it unless they are paying up front.   And honestly it's better they research it on their on as they will learn so much more then giving certain answers.  Being a knowledgeable investor is important

If you got 250K buy some oil patch contracts instead. You will have a greater chance of making money then in mining at the moment.

Fair enough, back to replying to forum to these questions as time allow. I do have people that PM me often and ask me tons of question. I do reply and i don't mind too much because of my free time but yeah. I don't really get anything tangible out of it.

i would buy bitcoin direclty, much easy at this point, wasting time on a thing that is going to be less and less profitable because the diff is skyrocketing apparently, due to the price

maybe if you really want to invest in mining wait even more so the price of the asic will be even cheapr and the risk far less, because even if the roi remain the same you spent a much lower amount for the same hashpower

I do to I enjoy helping people.  I do lot's of posts on here to help with mining issues and I love tinkering so I have done 1 on 1 many times on help over the years. Teamveiwer is a great tool for someone who has never mined.

But helping someone like that vs someone who say's they are going to be a quarter of a million dollar company is huge difference.  You can try it once they will  want skype and you are talking about many hours in first day and following day's depend.   

Of the around 4 I have talked to they just were not serious enough, it was more "what if I invest".  Only 1 did I really go a decent amount of time that was all wasted.  I suggest you try it once and you will come to same conclusion I'm betting.

Or you might ask for payment before talking to them, and would get something.  I just hated to ask for payment when I don't know if i can help with all aspects, so I didnt make payment up front.

250k start-up and asking for advise lol.  1 Post and no doubt never to return or even read maybe read as guest. If you got that much I would just buy crypto save for the future and not bother to waste time on mining. Just learn how to trade crypto or get someone or some people and a team to trade active and make a business out of it trading daily and making a good income and future from it.

I would totally bother mining with a 250k Startup, but you're right, i don't think OP is serious at all and replying here is not for OP, but for whoever comes by here looking for some ideas. Best wait for someone serious, with some real questions.

Indeed. Even mining with that start up is going to just lead to massive problems. I was tempted a few times and still tempted at making own mining farm but one thing always find is cost ratio of equipment energy used and cost per kwh in UK and it only seems to make maybe 10% profit if that and then it is a massive risk with buying equipment. If I had 1 cheap energy in uk 2 cheap enough equipment and 3 all being cost effective id be still in the mining game today. However with the next halving in June/July next year is going to be bare impossible to make any profit on mining at current hardware cost and BTC price. I will stick to good old trading buying low selling high, trade among many exchanges and alt crypto and gain that way.

Wait just a minute, how on earth did you manage to get 250k of funding without knowing what exactly youre going to do....Who in the hell invests that much in someone that is "stumped"??

It don't seems real, a newbie asking where to invest 250k dollars ... Before to create the startup and collecting funds you have to develop a project and know how it works, witch problems you can have...

Classic cars. You can't drive a bitcoin while its price doubles. :D

My consulting fees start at 0.75BTC per hour and go up from there.  I have a non-refundable deposit of 5BTC for a retainer.  As soon as your coin hits my wallet and confirms, I'll start providing you with services.  My wallet address is 1DevLdogN52pHdjZnsgi4HzreFDB4ZHVre.

Now thats what I call a brief CV  :)

LOL... figured I'd just throw the summary out there since chances are about zero OP will ever return, or was even serious about the request when posted.

OP has not logged in since:  December 17, 2015, 05:45:58 PM

So many of these threads saying I have X amount of money are just pure fantasy.  I am willing to bet OP looked at current difficulty and got free advice and is out of the game before he ever started.  I think people would be upraised how many of these start up wanting others to do the footwork on researching mining for them, and then the person does not come back most cases I believe it is because the money was never there.

To be fair he doesn't say 250k "what" he had to invest, it may have been satoshis ...

Since you do not have a business plan then do no invest anywhere, hire an expert and make a business plan, after that hire the developers and so on.

Re-read first post:


He specifically say's 250k or more.  So we do know he said that he had massive amount to invest not satoshi's.  I think you did not read through first page.

Also he is gone... no logging in.  So it really is not worth this thread getting bumped.  Chances are he left and is not investing, and did not have the cash.

Firstly, it was a joke (from me) so hardly worth worrying about, but I certainly did read the first post, as your quote shows he simply gave a number "250k" but no units, so he "may" have been referring to dollars or he "may" have meant cents, or Malaysian Ringgits, or satoshis, or ...

Anyway a joke that needs explaining obviously wasn't a very good one, I'll stick to the day job ... ;)

I'm missing the joke.  What part are you saying you were joking about?   I could be blind but I don't see anything remotely funny.

Only comment I see from you in quote is "To be fair he doesn't say 250k "what" he had to invest, it may have been satoshis ..."  And I don't see how that is funny at all... sounds like misinformation.

That was precisely what he was joking about.  We were all assuming the OP would never return and that he didn't have the funds he claimed - because we all assumed he meant $250,000.  Tertius993 simply pointed out the OP never actually stated he had dollars.  That was the joke - he might have only had 250,000 satoshi to invest.

Ahh thank you that was going over my head.  I just was not seeing it.

I appreciate the explanation.

Just buy BTC and hold them

@notlist3d, you're an arse.

right now? if you have 250k I would buy gold.

http://www.kitco.com/charts/livegold.html

Price is low now learn how to trade in commodities like gold and silver. use small chunks of money to invest watch the markets.

its done me well over the past 10 years now I do it with bitcoin its even better.

http://www.kitco.com/news/video/show/The-Rough/1109/2015-11-10/Gold-Is-A-Bargain-Right-Now-But-No-One-Is-Paying-Attention---Rob-McEwen

The OP did not state 250k of "what" he has acquired... It might as well be 250k grain of rice. Lol.

I did not get that he did not specify 250k of what.   So joke was over my head....

Not sure who you are or why you felt need to post against me.  You need to need to read more of my posts... I don't try to be rude it was just I was not getting the joke.

If you had anything over $500k, I would suggest investing in BitFury. They are a mining private company who produce their own hardware and take investments between $500k and $1000k.

I would suggest you look into companies like MiningSweden.se and ashnest.com for cloud mining that is cheaper. Hashnest takes maintenance fees and has an ROI of around 400 days, so you could earn 500k in two years! There may not b enough hashrate for your 250k, so if you wanted to do this, you may need to contact them directly!

You could also get some S7 antminers, and an old computer. If you turn the computer into a pool by following online tutorials and hook the antminers up to it. You would then have the greatest chance of an ROI.