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Author Topic: Realistic Mining Opportunity in Europe  (Read 1210 times)
Electree
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July 01, 2016, 08:24:30 PM
Last edit: July 01, 2016, 08:52:09 PM by Electree
 #1

Hi, I am new to this forum and I am relatively new to Bitcoins. Moderator please move this post if I have placed it in the wrong heading.

I have the backing of the Spanish Government to build a 4M euros "Renewable Energy Plant" in Spain making wood pellets for both the local and export market. I live in the mountain area above Barcelona, surrounded in forestry. My pellet plant requires loads of electricity, so much so that I will be incorporating my own Generator. Trees are not a problem.

Two years ago I formulated my business plan based on my anticipated production level. I based the size of my Generator (powered by waste wood) on my pellet output requirement.

Having had a massive rethink (and associated numbers), I have concluded that I can increase the size of my wood-fed generator to produce much more electricity than I need. More than I need for my pellet production; if I can find another industry...such as Data Mining or Bitcoin Mining to come on-board with me!

My initial mathematics leads me to believe that if I can settle a deal with a mining operation; such as a combined effort, a synergy, then the mining can operate at no electricity costs to the "mining".!

The strategy is:-  I/we produce wood-pellets in my factory and sell them nationally and internationally at a low price. Enough to cover the cost of the electricity produced by the factory itself, (and allow me to gain market dominance in Pellets)! No need to buy electricity from the local electricity providers. The production and sales of the wood pellets pays for the electricity of the bitcoin mining. PS...the generator also provides cooling!

The Company buys the trees necessary to both run the Generator and make wood-pellets. [Lower prices for running the generator, higher prices for best wood for the pellets].

I would be interested in hearing from genuine Mining guys. Need not be Bitcoin, perhaps another digital currency?

St
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July 02, 2016, 03:00:36 AM
 #2

Speaking honestly,mining any other digital currency on that level is waste of your resources,you would not even earn close to the marginal profits.Block reward decreases drastically after halving,I don't even know how profitable mining would be then.Don't forget the other costs come along with the mining farm,maintenance,workforce etc.At the end of the day,you'll actually realize that sticking to the wood pellets would be more lucrative in the long run.How much watts of power does your generator produces per hour anyway ?


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isvicre
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July 02, 2016, 10:29:08 AM
 #3

Even if you gave is accurate numbers it is very unlikely this would be profitable.  I think the ship has sailed with industrial btc mining and whilst id like to see more distrubution in mining globally i think you will after a time regret your decision to enter into digital currency mining. Maybe im wrong though, and its one of those times i hope i am.
Electree
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July 02, 2016, 11:27:42 AM
 #4

Thank you guys for the initial input.

Regarding electricity.....

I have many choices regarding the potency of the generator. I only need around 750kW/hr for 8 hours per day to produce my pellets. [requires less than 2 tonnes of waste-wood to generate.]

However, If I install a 2.2Mw/hr generator [5 tonnes of wood per hour to generate] then whatever other industry (Bitcoin, Data centre, etc), wants to come on board can avail of 16 hrs of 2.2Mw/hr and 8 hrs of 1.4Mw/hr electricity.

The sale (profit) of wood pellets, I predict, should cover the cost of overall electricity.

I should mention that Co2 Government grants are available for the pellet project alone. Also there is the possibility to sell the extra electricity to the grid.

Now I must add a little of my personality:-  I am not, nor have I ever been, a person seeking personal wealth. I am 56yrs old, with a mortgage living in Spain with 3 children. I have no desire to be a millionaire nor to be in the "public eye"!

Since the 2008 crisis I find that I have a desire for knowledge and understanding as to why the crisis happened. I found my answers in people like Yanis Varoufakis, (ex-Greek government Finance Minister ). I have also learnt (learned) that life should not be insular. We all need friends.

With that in mind......I am quite happy to run a multi-million operation for a personal wage of around 1300 euros per month;  to satisfy my mortgage. The millions, (profits), I believe, should go towards making a better world. I will start with Diem25.

If some of you guys can point me towards experts in the Bitcoin field to help me achieve my goal (before I die) of making Europe a true Democracy then I welcome your input. I am convinced that my children, and Yours, will appreciate it!

Best Regards

Stephen




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July 03, 2016, 10:50:30 AM
 #5

This is not a very good time for bitcoin mining, the halving is coming and nobody knows if mining will still be profitable in the middle term (price would need to readjust to the mining cost). You could try to mine other currencies, or even host a data farm (web hosting), but it may require more maintenance.

EDIT: Why not selling the surplus energy to the grid ? Spain should have good rates for eco-electricity.
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July 04, 2016, 07:35:51 AM
 #6

The guys are totally right, about to selling the electricity power, than getting in to the mining, but also you can try to get some for your self, some miners, the Bitmain just announced a new miner 13 Th, get some of those limit aditional 5 units and see how it goes.

I provide a link for you.

Sorry for my English Thanks and Best Regards.

https://bitmaintech.com/productDetail.htm?pid=0002016062110472232271UDDfFs064D

https://bitmaintech.com/productDetail.htm?pid=00020160621104912445LAaqt8bF06A3

Electree
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July 06, 2016, 11:48:47 AM
 #7

This is not a very good time for bitcoin mining, the halving is coming and nobody knows if mining will still be profitable in the middle term.

EDIT: Why not selling the surplus energy to the grid ? Spain should have good rates for eco-electricity.


Thank you contributors. I have a few of points to make:-

1.   To be able to be paid for contributing to the grid, you must be able to provide 24hrs switchable power, in favour of the Electricity Company. If I only want to make pellets then I must operate 24hrs per day, so that they can use my extra electricity at the switch of a button. This means that people like me, if we want to sell to the grid then we must have a solid 24hr production generator in line with our production. The need for wood-pellets locally is not yet great enough for 24hr production. [It costs at least another 2 million euros for the better generator!

2. The rate that Spain pays is around 20c per kW/hr for grid electricity.. [A pittance compared with what mining might offer].

3. I study intently today's politics and I can see that a number of things are going to happen within the next months and years....Interest rates are going to go up.....and more importantly; Green issues are finally going to be addressed! There will be a surge towards Global Climate issues!! Believe me, that USA and Europe will now begin to seriously acknowledge the Climate Change issue. Now is the time to be ready for starting up alternative energy source production.

If I am ready for the surge for wood-pellets, then I also want to be ready for the need for being able to provide the extra electricity necessary for the promotion for this alternative currency known as "Bitcoin" and associated Alt-currencies.

The EU infrastructure is fragmenting...time to latch on to digital currencies or become a Walmart!

I could talk for hours on this subject but I want you to note...........I don't seek to make personal millions out of this, I am one of the good guys. (Like my mother wanted me to be). It is okay if you guys want to make money off my back....(as long as you are not an American Corporation who is already engaged in making the Poor poorer!) I very much welcome small companies, family like, who have spent numerous hours on their Bitcoin projects only to find that the "Establishment" has blocked them.

We are entering a new era and we all need to help each other. Perhaps I live too much in isolation and have too much time to think; however, I feel I have a solid business plan and I welcome other like-minded-people to exchange view and perhaps come on-board with this venture.

Yours Sincerely,

Stephen





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July 06, 2016, 11:03:09 PM
 #8

It's true that bitcoin mining might generate more that 20 cent/ kWh... if you don't take into account the buying and renewal of miners !
These machines are very expensive and since more and more competition is present you always need to buy more efficient equipment.

Try to make a simulation based on past data, it might be very interesting.
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July 07, 2016, 01:34:17 PM
 #9

I never heard, that in Spain trees are not a problem. Wood is always the problem in Spain, Italy, France etc. - where you see woods there ? That's means woods must be imported from outside - so the final cost can be different.  Wink
Electree
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July 11, 2016, 07:42:53 PM
 #10

I never heard, that in Spain trees are not a problem. Wood is always the problem in Spain, Italy, France etc. - where you see woods there ? That's means woods must be imported from outside - so the final cost can be different.  Wink

There are plenty of trees....negotiating the price in Spain might be a problem, (selfishness and greed are inbred here ),  but yes, there are plenty of forests in need of legal cleansing. Plenty of forest-fires to be avoided!



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