prophetx
Legendary
 Offline
Activity: 1666
Merit: 1010
he who has the gold makes the rules
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May 13, 2014, 05:55:38 PM |
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diversify
if you are at the conference in Amsterdam later this week, I would be glad to invite you to our dinner where there will be several other investors. feel free to PM me and we can chat about it.
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Somekindabitcoin
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May 13, 2014, 08:28:03 PM |
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Buy Avalon module miners. At 1.17 per GH/S (based on the current btc price), it is worth it. With 3 million, you can expect to get 1 PH/S per million so you'd get 3 PH/S. If you were to pool mine that on Eligius, you'd possibly get over 300-400 btc a day. I already had seen a guy with 600 TH get 200 a day. That means it might even be possible to get 1k bitcoin a day and you'd brake even within 10 days. (Count this totally as speculative guessing.
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MarketNeutral
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May 13, 2014, 10:16:36 PM |
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OP, I should have some solid info for you in the next day or two. I think you'll be impressed!  |
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Little P 1
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May 14, 2014, 12:01:07 AM |
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You could buy some shares in CVFSSkype Cryptovest In our crypto safe houses we will be selling mining equipment and our sales people will be really doing what they can to bring Crypto to the general public. Kr, Malcolm O |
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Aureum_Coffee
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May 15, 2014, 05:49:17 AM |
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So, the choices that you have is
1) Purchasing and passively owning some bitcoin. If you do this, it would be imprudent to trust anyone besides yourself to safekeep your bitcoins.
2) Creating some bitcoin related business.
The difference between 1 and 2 is night and day. I would expect a bitcoin related business to be an enormous hassle in terms of time commitment required. The time drain factors are regulation and money laundering hassles, thieves trying to steal your bitcoins, plus other factors inherent in any other new business venture.
So, if you want to put that 3 million to work as part of your big portfolio, it may be disproportionately time consuming to do it as a bitcoin related venture.
Realistically, this leaves the passive option as the only one viable.
I do not have an intelligent opinion on where the bitcoin prices are headed, and neither does anyone else. So please do not interpret my reasoning as a suggestion that owning bitcoins is better than owning an index fund. I am just saying that more active options may not be a good choice for a "$3M portfolio investment".
The last choice, passively investing in a bitcoin business, is only tenuously related to bitcoins and is akin to any other venture investing.
I agree with hheelll. Take that 3 million and invest in a related business. Forget about the mining business. Mining hardware manufacturers have no incentive to sell you the hardware early on when they could have mined with their brand new, super powerful hardware, and then sell it to you for high margin profit. Basically you are getting hand me downs. Once you acquire the hardware, the difficulty increase 15%-20% average every 12 days. Meaning the capital investment you just made lost that much in value every 12 days. Someone said to deploy 3 million dollars worth of hardware and ROI in 10 days. Can someone ship that much hardware within reasonable amount of time? Can you deploy that much hardware within reasonable of time? BFL and KnC (miner manufacturers) can do the same thing and beat you to the punch. A better solution is to take the 3 million and setup shop where you can have cheaper electricity. Spend some of that 3 million on solar and wind power to lock in power cost. Utilities have a tendency to increase power rates by 3% average everywhere. If Bitcoin flops and no one wants to have miners in data center, the data center can host some other equipment. The ultimate money maker is to own an hydroelectric power plant. It is literally like printing money. |
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jamesc760
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May 15, 2014, 03:45:34 PM |
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I recently saw an article about a multi-million dollar mining company go bankcrupt. If an established mining business goes belly up in this environment, what makes you think you can thrive starting now? Especially with only $3 Million? Yes, ONLY $3 Mill. There I said it. I know it's nothing to sneeze at but the most hashrate you can get with it is about 2 - 3 PHs. After paying for electricity, hosting and whatnot, you will be lucky to break even.
Are you the guy advertising on Craigslist San Diego? You sound scammy to me.
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gallery2000
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May 15, 2014, 05:04:35 PM |
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Buy Avalon module miners. At 1.17 per GH/S (based on the current btc price), it is worth it. With 3 million, you can expect to get 1 PH/S per million so you'd get 3 PH/S. If you were to pool mine that on Eligius, you'd possibly get over 300-400 btc a day. I already had seen a guy with 600 TH get 200 a day. That means it might even be possible to get 1k bitcoin a day and you'd brake even within 10 days. (Count this totally as speculative guessing.
You can not get 200 btc a day on 600TH |
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ChuckBuck
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May 15, 2014, 05:17:34 PM |
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Buy Avalon module miners. At 1.17 per GH/S (based on the current btc price), it is worth it. With 3 million, you can expect to get 1 PH/S per million so you'd get 3 PH/S. If you were to pool mine that on Eligius, you'd possibly get over 300-400 btc a day. I already had seen a guy with 600 TH get 200 a day. That means it might even be possible to get 1k bitcoin a day and you'd brake even within 10 days. (Count this totally as speculative guessing.
You can not get 200 btc a day on 600TH According to Coinwarz, 600 TH/s generates 34 BTC a day. Just a little shy of 200 BTC a day.  |
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DebitMe
Legendary
Offline
Activity: 2800
Merit: 1012
Get Paid Crypto To Walk or Drive
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May 15, 2014, 05:19:46 PM |
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Buy Avalon module miners. At 1.17 per GH/S (based on the current btc price), it is worth it. With 3 million, you can expect to get 1 PH/S per million so you'd get 3 PH/S. If you were to pool mine that on Eligius, you'd possibly get over 300-400 btc a day. I already had seen a guy with 600 TH get 200 a day. That means it might even be possible to get 1k bitcoin a day and you'd brake even within 10 days. (Count this totally as speculative guessing.
You can not get 200 btc a day on 600TH According to Coinwarz, 600 TH/s generates 34 BTC a day. Just a little shy of 200 BTC a day. Psh, lets not forget variance! |
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DebitMe
Legendary
Offline
Activity: 2800
Merit: 1012
Get Paid Crypto To Walk or Drive
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May 15, 2014, 08:00:19 PM |
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ChuckBuck
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May 15, 2014, 08:50:29 PM |
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Geez Debit, no need to rub it in.  Just trying to cut through the malarkey. No offense Somekind. |
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jamesc760
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May 15, 2014, 10:08:11 PM |
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Lol.
So many bitches around here...
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Somekindabitcoin
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May 15, 2014, 11:58:55 PM |
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Probably another member who had over 600 TH/S. There were 3 of them at the time I had seen it. The hashrate was almost 8000 TH for eligius.
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Shogen
Legendary
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Activity: 966
Merit: 1001
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May 16, 2014, 02:43:33 AM |
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Instead of spending 3 mil to buy ASICs for mining, what about investing the money to build and run a new exchange? Or maybe a new cloud mining site?
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gallery2000
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May 16, 2014, 02:47:01 AM |
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The best way to spend your money is donate to the homeless.
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Somekindabitcoin
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May 16, 2014, 03:56:26 AM |
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The guy owns a couple of data centers already and says his investment can go up to 10,000,000. He's just low balling at the moment. If I were you, I would go with buying Spondoolies-tech hashing boards. At 3.2 TH/S each, they're killer good. There was a group buy earlier for the 5.4 (6.5 TH/S OC) SP30 machines. They were only 5,000 each, but some members paid 4500 instead. I am thinking that each hashing board itself is around 2000 each. Calculations would be here:
2,000 at 3.2 TH/S = 1$/1.6 GH | 1000W
7,500,000 = 12,000 TH/S or 12 PH/S (Possibly less depending on discounts. Max I think would be around 18 PH.) 2,750,000W or 2.75 MW
Raspberry Pi's and other accessories: Around 250-283,000
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2 Allied Control Datatanks (1.4 MW/ea)
And you'll need around 50 Gallons of Novec 900 per year.
They have 19 inch racks and saves over 95% worth of electricity a month. ASICminer uses 2-Phase immersion cooling.
You won't be spending a shitload on fans and stuff because they'd be in tanks. The boards also come out dry.
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This will all come out to around 9,000,000. I predict the electricity in terms of wattage drops to 137.5 KW
Predictions:
You possibly won't have this all set up until the difficulty reaches around 15,000,000,000 (That's my guess, but it could be lower or higher)
Monthly electricity cost: 10,000
Money made monthly: 6,700,000
Return on Investment: 42 days
You'd be making around 200,000 daily.
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Treat this all as speculation, but a fairly accurate claim in my opinion. Others may say different and I accept all other constructive criticism.
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tuneman1980
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May 16, 2014, 04:02:31 AM |
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Well I thought about it at Christmas when the media was all over BTC and decided that "during a gold rush, sell shovels", so instead of taking a risk and buying bitcoins or a mining rig I setup www.cloudminingreviews.com for $10 and made a profit the first month and a steady weekly commission since then plus BTCs from direct banner advertising. If you notice the ones making it are the hardware providers, e-wallets, payment network etc. If you have 3-10M you should invest in the infrastructure or an ad-based platform. I would entertain the idea of selling my site :-) Great looking site. I had the same idea and came up with http://cryptocoinstats.com/ |
http://cryptocoinstats.com/BTC: 19YQqtEdtuWhT6nk6ArBgMTiKMEjoJ5eww LTC: Li1RLpZm8Rx7txSnQdvZvtLMsd4XDN2vMJ FTC: 6qAU4vtyf9LPW4yV4m4Vx1jm4ZkXJHTFP7
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boumalo
Legendary
Offline
Activity: 1918
Merit: 1018
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May 19, 2014, 03:23:28 PM |
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The guy owns a couple of data centers already and says his investment can go up to 10,000,000. He's just low balling at the moment. If I were you, I would go with buying Spondoolies-tech hashing boards. At 3.2 TH/S each, they're killer good. There was a group buy earlier for the 5.4 (6.5 TH/S OC) SP30 machines. They were only 5,000 each, but some members paid 4500 instead. I am thinking that each hashing board itself is around 2000 each. Calculations would be here:
2,000 at 3.2 TH/S = 1$/1.6 GH | 1000W
7,500,000 = 12,000 TH/S or 12 PH/S (Possibly less depending on discounts. Max I think would be around 18 PH.) 2,750,000W or 2.75 MW
Raspberry Pi's and other accessories: Around 250-283,000
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2 Allied Control Datatanks (1.4 MW/ea)
And you'll need around 50 Gallons of Novec 900 per year.
They have 19 inch racks and saves over 95% worth of electricity a month. ASICminer uses 2-Phase immersion cooling.
You won't be spending a shitload on fans and stuff because they'd be in tanks. The boards also come out dry.
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This will all come out to around 9,000,000. I predict the electricity in terms of wattage drops to 137.5 KW
Predictions:
You possibly won't have this all set up until the difficulty reaches around 15,000,000,000 (That's my guess, but it could be lower or higher)
Monthly electricity cost: 10,000
Money made monthly: 6,700,000
Return on Investment: 42 days
You'd be making around 200,000 daily.
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Treat this all as speculation, but a fairly accurate claim in my opinion. Others may say different and I accept all other constructive criticism.
You cannot buy and plug 2000 miners without any additional costs and the delivery may be late |
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