31 sats \ 12 replies \ @KaboomracksAlex OP 16 Mar \ parent \ on: Beware of millions of ways to lose your Satoshis mining this bull market bitcoin
It's really hard to time the market but I think when you get online, the market will be recovering from the halving crunch that's about to happen. You may be happy for your psychological health of not having your first experience turning on miners with a 12-24m hosting contract be running them at a loss.
I think a good rule of thumb is to buy miners on the way up in the bull market. You don't want to buy the top lol. Pinpointing the start of the bull is impossible but if you can do it, you're a genius. The bull has been raging for some time but I think it's still a good time to buy.
I like those Wilson Mining Guys, but make sure to buy your M50s from me next time :)
Do you anticipate M50Ss to be a lot more expensive in August? If the last bull is any indication prices for miners soar
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Yeah miner prices are going to be bananas.
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I get cheaper electricity for a year to buy through them. ;)
Incentives are a bitch eh?
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What is your electricity cost after the first year?
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Yeah that's a pretty good deal
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Question:
Theoretically. š
If you had the opportunity to lock in M60 miners for $3950 (inc hosting fee, shipping, import fee, taxes) at 6.9c for a year and 7.5c after that
BUT!
You had to pay April 1 and deploy Aug 1, would you?
Does the delay make it uneconomical? I know rule of thumb is usually buy and plug in.
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I think it's best to avoid deploying machines unless you can plug them in right away. A lot of things could happen between now and August and the worst situation would be for you to buy the machine, wait to plug it in, then be unable to when the turn on time is supposed to be.
It is generally good to avoid buying these machines to hold onto to plug in at a later date. There are some situations where it makes sense from an equipment price standpoint, as it will likely be somewhat of a machine bull market after the halving.
It's just important to remember, 1 the machine devalues the second it ships off the assembly line as we approach the next halving, and as difficulty climbs. 2, every second it is not hashing means less Bitcoin that machine will be able to mine on a daily basis.
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Is there not a price at which it becomes feasible? Especially when you consider the potential future value of an M60 if prices appreciate like they did last bull market?
If prices for miners are sideways now, isn't it okay to lock in a future price? Like a farmer buying futures on their crop?
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Yeah, what makes mining hard is it's really hard to project future profits.
It's important to think in sats as your unit of account instead of Fiat which creates a different view of pricing.
You can play games with equipment prices. It's always great to buy miners before the hardware bull really takes off. It's generally terrible to buy when the hardware bull really gets going.
So many people get wrecked because they make decisions with expectations of timelines that do not work out. The simpler you keep it, the more likely you are to be successful
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From Wilson
"Ask him if his miners come with 6.9c no MOQ slots. Cause ours do"
šš
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lol
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