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1  Bitcoin / Mining speculation / Re: Why you should NOT get into cryptocurrency mining on: November 06, 2017, 11:25:25 PM
There are many articles and videos on the web that advocate for mining.
So I decided to write an opposite argument why you should NOT go for mining:

https://steemit.com/mining/@walczakit/why-you-should-not-get-into-cryptocurrency-mining

I'm a miner and crypto trader my self so its based on my own experience.


Apparently, it is worth mining if you are a large company with an access to a large capital and cheap electricity and not profitable if you are a small scale miner. What if we cooperate? I have $0.055 electricity and 0% custom duties  +large mining facilities will be finished in two weeks. I have around 30 Antminers and 50 GPU miners, but I still have over 2 megawatts of electricity and like 1000 sq/m of floor space. Obviously, I would love to make some extra cash on the side and recoup my capital expenditure much faster.

I am not providing this service yet. After reading this and a few other threads, I just  thought such a service could be beneficial to all parties.

What do you reckon could be a problem with such a service? Obviously, full verification will be required, which I am happy to do (whatever is required including site visits, personal financial guarantees from the mining company or a UK based property development company, etc)

This should make mining profitable even for a small scale miners.

Let me know your thoughts. If you reckon it is a good idea and I get positive responses, I will open a new thread with full details.

Hopefully this post doesn't violate any Ts&Cs of Bitcointalk. org
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