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April 18, 2024, 05:35:54 PM *
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1  Bitcoin / Mining / How to spend a 100k right on BTC mining farm on: April 10, 2024, 09:14:30 AM
Damn, I am jealous of your set up, I wonder if I can pull something this similar off on my own, I am still rocking Asic miners tilll today, I don't have such an idea to run more than 5 Asic miners but I am looking forward to that day.

I think it will be in 2026, I plan to go big on good numbers of Asic miners at the time I am curious though about how much this must have cost you, apart from the Asics how much have you spent on cooling components alone?

I need this information just to get me prepared, I believe that I will have an extra $100,000 in 2025 to start or risk on a Bitcoin mining farm, I wanted to do this for a long and I dont want to leave this world behind without fulfilling my dream.

To the experts in the house, what can $100,000 do in terms of building a Bitcoin mining farm? Or how can one spend this in a very smart way on Bitcoin mining?

This question was asked, and answered earlier in the thread Smiley I'd estimate this setup was approx. $8000 for everything except the miners, however I did the electrical work myself so you'd probably need to allow an extra $1500 - $2000 if you needed an electrician.

So, assuming you were making a similar setup today, $100k would get you:

$10,000 - similar setup to mine including labour
$90,000 - lots of options here (depending on your available power and cost):

   * 64 x S19KPro - 120T
   * 27 x S21 - 188T
   * 23 x S21 - 200T
   * 32 x T21 - 190T

You would need a large commercial electricity supply though. I have 200A 3-phase 240V, which was already on the premises before I started mining. If you had to have a big supply like that installed, I imagine it would add several thousand $ to the setup cost

I will like to hear from many new and old Bitcoin farm owners about this, is this a good plan to proceed with? If you are in my shoe right now will you proceed with such plan or you have a better one?

I plan to use up to 100k on Bitcoin farm in my own house very soon and I am looking forward to hire a smart electrician who can deliver a clean job.

Please drop your better idea if you have one.

What Asic miner will be better and more efficient for you? I have read about how reliable whatsminer are compare to Bitmain, is this a valid point?

I read on here that Whatsminer can last longer with zero faults compare to Bitmain and others.

Please drop your guide on here, excluding power consumption I don't want to go the bad route about the best Asic miners that I should buy or avoid.
2  Other / Beginners & Help / Spending extra to keep my assets out of trouble on: March 21, 2024, 04:36:26 PM
Check this out.

This is a screenshot of a token that I am holding presently and today I read about their v2 upgrade which is a must for every holders.

If i am a beginner I can easily connect my hardware wallet instead because the link is strictly from the project's official website.

I believe this is not a safe practice so I prefer to spend more on ETH gas fee, move the tokens out of my hardware wallet into a spare wallet connect the spare wallet to the website swap to the new V2 token, and move the new token back into my hardware wallet.

It's called safety practice, yeah I spend gas fees three times, $7 for moving the old token to another wallet address roughly $10 for the swap, and another $7 to send back into the hardware wallet.

It's a $24 thats well spent because my hardware wallet consists of many assets that are way higher than $24 in total value.

Nothing must confuse you to connect your main wallet to any platform even if it's the real platform for token swap, because you might think it's safe and these people have their ways with your hardware wallet later on.

I could have made this mistake today if I am new, but due to my past mistakes I tend to avoid such things again, you may just never know, do not trust any platform, project team or friends by connecting your wallet to any link provided, if its a must then consider a spare wallet.

Stay safe famz.
3  Other / Beginners & Help / I want to know more about Wallet address poisoning on: February 12, 2024, 08:03:03 AM
Don't say because I am senior member, I should know better, well I don't and I am willing to know now, so as to improve my wallet security every day if possible.

My question is about crypto wallet address poisoning.

1. How are scammers poisoning a wallet address?

2. Is it true that scammers only need to send a fake transaction or fake NFT to your wallet address to get it poisoned?

3. What are the capability of a poisoned wallet address in favour to the hacker?

4. Can address poisoning affect Bitcoin wallet too, like Electrum?

I did my own research but I am not sure, I read that if a wallet address is poisoned the transaction history will be affected, the trick is capable of changing your last two or three transaction to a fake wallet address.

The fake address will have the same first and the last four alphabets as the last original address that you sent some coins into the last time you use your wallet.

I can't confirm if this is the true figure of what address poisoning means, is this right or not?
4  Other / Off-topic / Before you start gambling, do some research first on: January 30, 2024, 11:08:25 AM
It's good to have a source of income at first before you start gambling but I want to talk about this even more, do you know that even with your source of income you might be at one spot and not move forward?

No progression means you are no different from someone who have no source of income, I know someone who work so hard, I mean the hard jobs, that I can't even do, but at the end of the month when he gets paid he always waste everything on gambling, as if something told him that gambling is the way in this world for him.

He can't stop this, he can't help it, he is addicted to this way, I knew this after he start going around asking for things that he should be able to afford as a worker, he confessed that he lost money at first but the same thing kept happening for months and I find out that he is risking all his salary on gambling.

Is there anyway to help this person? I have given some advice to start using small percentage of the whole salary and safe the rest but still couldn't, and I don't want to help him to hold his money for him, he is over 28 years old, not a underage.

He have gotten used to this way because he started gambling all by himself and he won some money but end up even fuelling his addiction. What is next? Any tip?
5  Bitcoin / Bitcoin Discussion / A good or bad way to avoid high transaction fee? on: December 23, 2023, 01:16:38 PM
Sorry if this sounds like I am late, I am just knowing that Bitcoin is available on Binance chain, how many of you know this? A crypto newbie that I introduced to Bitcoin came to me some hours ago saying he found a way to escape the Bitcoin high transaction fee.

I thought he was talking about the Ligthening Network because that was the only solution I told him is available, he choose to use Binanace chain and after looking into it I am surprised that the Volume is very high and top exchanges supports BTC on Binance chain as well.

I am not saying it's good or bad because I don't know but I am shocked that I never knew this existed before, now I keep wondering about how many things I don't even know is happening in crypto, are you guys familiar with this? Anyone using BNB chain to store Bitcoin to avoid high transaction fee?
6  Economy / Speculation / A big buying opportunity might be on the horizon on: December 18, 2023, 02:34:34 PM
What if a new rugpull is in plan for crypto?

SEC denial of the approval can cause crypto to crash massively, if the ETF isn't approved by January buckle up for a spiral run down the hill kinda market behavior.

But alas, ETF approval have been around for year's and it has never been approved before, if it's a nO this time around it still won't stop Bitcoin from creating a new all time high.

The way consumers accept this bad news will determine how far Bitcoin can dip but understand that it's going to be a big opportunity to get more Bitcoin, do not follow the masses, as they can be easily lead astray.
7  Bitcoin / Bitcoin Discussion / Ledger seem compromised again on: December 14, 2023, 02:24:33 PM
If you are using ledger hardware wallet please do not connect to any dapps right now until futher notice, it seems this hardware wallet is freaking too vulnerable to attacks right now.

8  Economy / Gambling discussion / Math and Gambling on: November 17, 2023, 09:19:39 AM
Gambling is known to be a game of pure luck but also probability, that's if you are good at math, this is what a fellow employee said to me, he then told me to look Chris Ferguson up, to my surprise this man won millions in gambling using math, I read this man is really good at math,

He created his own gambling strategy for poker completely on math and game theory instead of trying to focus monitoring the players, this man won five world series bracelets 🤦 and over 8 millions dollars in gambling tournaments.

There is also another man called James Simons, who is named the greatest gambler of all, he made more money using math than Chris Ferguson, James net worth is over 20 billions, I was shocked, because I use to think it's impossible to gamble using any skills, this is a skill on a another level, I am mad that I am just knowing this not too long ago.

School is not important as 96% of what you learn won't be used in the real world to make money, but this 4% left is making a lot of people rich, math and gambling seems to go with each other, what do you guys think? Am I wrong or right?
9  Bitcoin / Bitcoin Discussion / Every man you failed to lecture about Bitcoin can be a victim to scam on: November 13, 2023, 02:26:40 PM
Whenever someone come asking me about Bitcoin I sometimes look at them as another victim to scammer, at least before they learn, and that's even if they choose to stay after they get scammed, such category of people only know how to quit, I think this way because people only what to hear the good side of investment and not the bad and risky side.

Something happened to someone who is not very close, I remember he came to me asking me about Bitcoin and how to get involved, I remember it was a bad timing for me and I told him to go online and do his own research.

Now he is a victim to a WhatsApp group that opened a exchange and told him to invest through them, I never knew he had up to $3000 for investment, he never sound like someone who is ready to invest a lot and secondly I thought he was a time waster, now he can't withdraw his Bitcoin from the fake exchange.

I am thinking that leaving behind and not teaching people can make them a prey to scammers, if I have just thought him the right things about Bitcoin he might have not get scammed.

No matter how much you tell others to do their research about Bitcoin some are not very good at it, call it illiteracy or other but it is what it is, should we start turning those who are not so good with finding answers away? Is that a right thing to do? I don't even know why I am feeling bad for this person, I could have saved him though.
10  Economy / Economics / What is happening with Naira/dollar rate on Binance on: November 05, 2023, 08:14:42 AM
Is it true that the CBN is dumping USDT on Binance P2P to drop the value of Naira? This is what many are saying after Naira dropped back to 900+ range since few days now, it looks like Binance P2P is where all the mess is coming from? Or it's not?

To all the Nigerians on the forum, what do you think about this? Is The P2P responsible for the massive surge in Naira to dollar rate? And I read that the CBN once call for the ban of Binance P2P because they believe its the reason why the Naira keeps losing value against the dollar, what do you think?

My own personal thoughts is before Binance P2P there was few numbers of platforms that Nigerians use for swapping their BTC into Fiat, and there was no attention like this, Luno platform is a good example, so why now?
11  Bitcoin / Bitcoin Discussion / What type of advice is worth giving such people? on: September 11, 2023, 11:44:38 AM
I have read some painful stories online about Bitcoin fans that lost their Bitcoin to hacks more than once and how they gave up because of the hacks, this made me curious about people on the forum, I will like to ask you guys how many times you have lost Bitcoin to hacks or your own mistakes, and why are you still not giving up.

Can you keep buying bitcoin if you have already get hacked like twice or more in the past?

Like a story about an American who lost his love for Bitcoin because of the hacks, I believe it's because of his own carelessness though, because you can't leave your wallet on a bench outside your home and not expect someone to steal it, and you come out and say your wallet was stolen by a thief, like what do expect?

What advice is worth passing out to people who have lost their Bitcoin more than once and are on the hedge of giving up?
12  Other / Beginners & Help / Unfortunately, this problem is increasing yearly on: September 07, 2023, 05:36:11 PM
Unfortunately, Sim swapping attacks are still growing rapidly, in this month of August I have got bad news about two U.S based family friend losing over 45 ETH and 0.7BTC because of sim swap attacks.

What I have been able to gather is, the telco guys working inside AT&T and other telecommunication companies are the ones bypassing all security measures, now not even your sim SMS 2FA codes can safe your ass from these guys.

Sim swapping is more easier for them, because, remember, if we lost SIM card or it get damaged we can easily retrieve by their help, they will redirect your number into another new SIM card, and you are back online, This makes telecommunications dangerous when it comes to crypto.

Let's stop deceiving ourselves, there is no solution to this attack than

1. Separate your crypto away from your SIM card number.

2. Stop using your phone number to get verification codes for crypto exchanges and other crypto-related platforms.

3. Stop storing crypto on exchanges, e.g coinbase, and Binance exchange.

There is a big problem with people in the UK and US when it comes to crypto, they like storing their coins on exchanges, thinking that those 2FA codes and one time passwords for transactions will save them, which is not impossible for SIM swap attacks.

This was also why most people living in the U.S. and the U.K are the biggest victims of FTX, why these people refers storing crypto on platforms and exchange is worrisome, they are their own problem because crypto was never built to be kept on any exchange.
13  Bitcoin / Electrum / Is it possible to run the Electrum wallet offline in such a manner? on: September 06, 2023, 12:49:59 PM
I know that Electrum is one of the coolest bitcoin wallet out there but I want to be sure of one thing about keeping wallet safe and secured, it's possible to open a new bitcoin wallet using Electrum after installation without online access, I tried this and it worked, my question is if one want to keep the wallet offline this way is it possible?

Like after having your recovery seed and wallet address you remove the wallet while it's offline, no internet connection and whenever you move funds into the wallet you use explorer to check balance, doing this, does it mean it's truly offline?

I remember paper wallet in such a manner, this question came to life after a discussion with someone who is also a crypto investor, This is just for educational purposes only.
14  Economy / Gambling / Warning to all Stake casino users on: September 04, 2023, 05:40:07 PM

Stop using Stake website right now if you have an account on this gambling website, it's been compromised and they have lost a lot of money due to attack from a hacker, millions of dollars in BNB and other crypto assets are gone.

I doubt that they have seen a solution to stop the attack yet, and I am quite surprised that a casino can be a target, I don't know how this might help, maybe you are still trying to make some deposit on the platform? Be safe.
15  Bitcoin / Bitcoin Discussion / I think we need to start asking people if...... on: August 25, 2023, 03:11:50 PM
The water system in my house got some blocking issues and I needed to call a plumber, the plumber guy I was used to was not available, I called and he said he is far away, so I looked for someone else.

After he went through the problem and fixed the pipes for me, out of joke I gave him payment options that are available, if he will like any.

I asked him if he will want cash, bank transfer or Bitcoin, to my surprise he answered Bitcoin, I don't take this very seriously because, you know, most people don't care about Bitcoin here, but he brought out his smartphone and told me to scan the QR CODE.

I asked if he really his serious and he said yes, I had to pay him in Bitcoin and he said something that caught my attention.

He said people don't ask that's why he believed no one is using Bitcoin as payment.

He also said collecting cash will make him spend the money faster but he chose Bitcoin because he planned to start buying the following week.

While I was trying to question him about how he know about Bitcoin he revealed that he is a student, and that being a plumber is his side hustle, this answered my curiosity about how he knew about Bitcoin.

Have you guys been promoting Bitcoin by asking workers if they will receive Bitcoin as payment? How was it? This is actually the first time I will do such, all my mind was focused on, if I didn't see Bitcoin Payment Receive here I wouldn't bother.
16  Economy / Economics / Running faucet business in 2023 still possible? on: August 18, 2023, 11:15:18 AM
From someone who have claimed faucets almost all his days in 2016-2018 and managed to make some good money from just faucet claiming, I can't help but thinking how those running faucets at that time making money from it.

Since I don't see many people talking about this today I will like to ask for your help if any one knows of any places that I can learn about how to run my own faucet and how to make money out of it? .

Running Doge coin and few other old cheap coins like Litecoin Faucet is still doable, I can even add the likes of Shiba too,  where do you think I should start from? What do I need to learn about?

Lastly, what advice do you have for my goal?
17  Economy / Economics / Why are stable coins free from SEC ? on: August 14, 2023, 05:44:59 PM
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?

Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.

Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
18  Bitcoin / Bitcoin Discussion / If one like decentralization they will surely want Bitcoin? on: August 05, 2023, 07:06:53 AM
I have tried talking to people about Bitcoin but a higher number of them don't show any interest, they have idea what Bitcoin is but they don't see any reason to join the train so I am thinking, to cut short my time and energy, do you think it's better to talk about decentralization first?

Is it right to say that if anyone doesn't like decentralization they can never like Bitcoin?

I am not trying to force anyone into Bitcoin but people never stop asking me how I am making money for myself and most of my income comes from Bitcoin trading, as you can see, I have no choice but to teach about Bitcoin if I feel like helping someone out.
19  Bitcoin / Bitcoin Discussion / A idea from my home boy on: July 18, 2023, 10:02:08 AM
Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.

If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.

Give your answers please, stupid? Cool? Not great? No need?
20  Bitcoin / Mining / Your experience using used miner please? on: July 01, 2023, 01:51:19 PM
How long does your used asic miner lasted for? If you are using used mining equipment please drop your results on here, have you ever bought a particular used equipment that lasted for years with no problems at all? For how long actually?

Could you advise someone to buy used Asic miners too? Or newer is safer? Does new or used matter?

Do new asic miner have problems in the short term too?
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