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1  Bitcoin / Mining speculation / Re: Need help with Future Bitcoin Farm on: October 20, 2016, 04:10:27 AM
Honestly I don't mind helping people and answering a few questions but you have a very long list of questions that would require a lot of thought and probably an essay to answer.  If you are serious about this investment, you shouldn't come in here with a list of questions (especially when you apparently haven't bothered to do much research on your own).  Instead, you should be asking how to hire a Bitcoin mining consultant.  If you are seriously going to invest millions of dollars, you'd better not rely on the free responses you are going to get here.  You need a comprehensive report complete with charts, graphs, proofs, math and a summary that even a layman could understand.

 If you buy a containerized solution from Bitfury, you will never get your money back.  It is far too expensive. Also, Bitfury will be your competition so I doubt they have much incentive to sell to you other than to make more money from you than they could by mining with the container themselves.

 Another thing I will tell you is that in order to make 5000 coins per month, you would need to have 9.25% of the network hashing rate which presently works out to 168 PH/s or 10 of those $2.5million containers.




Again, I am new to the business and I am trying to learn. I thought this forum was to ask for help and expertise. I said at the beginning that I am new in this and I am very interested. Of course I am serious and involves millions but I am just touching waters here. Thanks for the information you provided.

Also, about the container what would be the best option to build the farm? what technology and chips etc etc?

Thanks
2  Bitcoin / Mining speculation / Re: Need help with Future Bitcoin Farm on: October 20, 2016, 03:45:29 AM
A lot of the questions you ask entirely depends on where you will be located or they are too specific.

Don't need engineers, it's not very complicated.
If you hire people and run it as a business, you'll be expected to pay taxes. Not on Bitcoin itself, but on your revenue.

Criticism of your idea shouldn't be disregarded. I also think like the previous poster that you don't seem to much about Bitcoin.
Why invest heavily in something you're not familiar with? Aside from capital, you don't bring much to the business yourself.

Thanks for the feedback and that is  why I said I am "new" with Bitcoin. That should answer your comment.
3  Bitcoin / Mining speculation / Re: Need help with Future Bitcoin Farm on: October 20, 2016, 12:13:39 AM
You're asking way too many in depth questions that have such huge ranges I don't even know where to begin. You need to do your own independent research and look these things up. There aren't lots of people with huge mining farms on this forum. Most people just don't have the capital to get it up and running and continue to grow over time.

I would suggest once you're up and running to have backup upon backup of your bitcoins on paper wallets, hardware wallets etc so you couldn't never lose 5000btc. Although I think you're being far too optimistic with that number, I feel it's just as important to store your bitcoins 100% securely. Don't use a computer that's connected to the internet.

I appreciate your response. I specified I need help of a professional bitcoin miner and people that is willing to help with this.

I am not looking for criticism or sarcasm. I am looking for help to build a business.

Again, Thanks for your response.
4  Bitcoin / Mining speculation / Need help with Future Bitcoin Farm on: October 19, 2016, 10:39:50 PM
Hi,

I am just kind of new in the Bitcoin space. I've done some research about how to mine and how this works. Myself and a potential investor friend want to build a considerable big Bitcoin Farm. I have several question that I need from real experts to help me build the business plan for this future company.

Note. Please remember that I am not an expert and also capital is not an issue.


1) Where is the best place to build a big bitcoin farm? Washington State? Iceland? or what is your suggestion?

2) I just discovered the Bitfury Data Center (http://bitfury.com/products#container-datacenter) If its better to build one similar or this is the best option in the market? I received the quote for this Data Center and its $2.5 Million. Its worth it? If so, why?

3) How many bitcoins I can get per day with that Data Center? They told me the capacity is 15PH and 2MW of power. What this means?

4) What other costs are involved when building a bitcoin mining center?

5) How many people I have to hire? Do they have to be Engineers? Technicians? What exactly?

6) I want to generate between at least 5000 bitcoins monthly. What Equipment do you suggest and what is the cost?

7) Are there any Taxes to pay if you get bitcoins in the US? what about Iceland?

8 ) How much is the electricity cost?

9) How and where to  store 5000 Bitcoins per month?

10) Is there a tracking software to keep monitoring all the bitcoins generated?

11) At that large scale how to prevent hackers or employees to steal bitcoins?


I appreciate your responses in advance and thank you very much for the help.

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