All Forum Posts by: Ross Bowman

I personally have invested in mining BTC, and am expanding into other coins.  While not in my home, as the electricity does not scale to what I wanted to achieve.  I was (my machines were) in China... they are shut off... I got lucky with a friend and found an available space in the US, very reasonable, that had 60K of electricity provision installed... (@ 0.06 a KWH) which can supply over 150 machines... all on a boat headed home.  And I have wrapped a completely independant business around this.

As far as Delfi... take a look at Nexo.io.  If you hold 10% of your holding in Nexo coin, they pay 6% interest on BTC (and a number of other coin) and 10% on stable coin like USDT AND on Fiat currency (USD, EURO & GBP) (daily... so daily compound) .  They are a great place to HODL ...  if you have your 10% Nexo token, finance is like 5.8% of our credit amount, no min paydown.   Oh... and Nexo Token went from 0.53 in like Feb to $1.75 today... not a comet out of the sky... but a good return on my 10% purchase.

In terms of comments about how innovative this is, or is not... does it really matter ?  Personally, I take a percentage of my profits from my mining operation to reinvest in additional rental properties... no... it is not a new way to fly to the moon... but it is a way that ANYONE can easily generate additional income to grow an investment portfolio... in the case of most here, a real estate portfolio.  And as my mining operation grows, and my real estate holdings grow, I gain financial independence that will allow me to quite my day job, which previous, has been the source of growing my real estate portfolio... just now I can do it faster...   AND I think that is a goal for most here.

Where is the bad in that !?!?  why so much negative ?   Offer some constructive criticism if you see a flaw with an approach, that is part of why I come to the posts... but, if you just want to be demeaning... join that other social media site that the rest of the world is on who want to just spew hate.  Sorry if that is offensive... but geez !!!

Mods, pls delete this cringy post. 

- not a computer illiterate dinosaur

What's the ROI with the cost of devices these days? Have you looked at mining other coins?

This is cool, cheers to your success and thanks for bringing up a fascinating topic! I guess I have to agree with @Don Konipol however, in that as interesting as it is to compare the numbers of BTC mining to having roommates, I think we're talking about totally different businesses here. I'd put mining more in the category of using a bedroom as an office to trade futures contracts, or growing weed or something: higher risk, hopefully higher reward, and completely separate to being a landlord.

Investment opportunities are weighed on a scale of risk/reward and I don't think BTC mining and house-hacking are even close to being equal in terms of risk. House-hacking/having roommates is a tried and true method of building wealth as old as the hills, within which the property owner has a lot of control, low risk, and reasonably quantifiable returns. Mining is a niche within a volatile industry that has been a roller coaster ride over the past few years and also has some big variables that are uncontrollable: global regulation, hardware costs, technological advances in mining equipment and techniques, energy prices, and of course the price of bitcoin to name a few big ones. 

However, BTC mining and having roommates doesn't have to be mutually exclusive so I like the fact that you brought this topic up. One could have roommates in part of the house and mining gear in the basement/garage, etc. 

This could be especially useful in areas with occupancy limits. For example my town only allows 3 unrelated people to occupy many rental units, so we have a lot of extra bedrooms that can't legally be rented, which could be perfect places to set up BTC mining rigs. 

What's the ROI with the cost of devices these days? Have you looked at mining other coins?

Now that is innovation! I think both of you guys are smart and ahead of the power curve on this one. I'm heavily invested in both DeFi and Utility Tokens, but I never got around to mining and I regret it. Using mining to pay for your house, solar, and offset your business expenses all while collecting 4.5% on your investment is pretty impressive.

Not here to debate with anyone who doesn't understand BTC or the DeFi world, just here to give praise where praise is due.

I 

 Cool and I hear ya. Defi staking requires a certain level of applied knowledge to minimize 3rd party risk. Definitely not a whole bag deal. 

As far as numbers go it appears defi could earn upto 50% less vs mining on a monthly basis. Sort of anyways as you have to account for the defi principle being liquid somehow. And add variables it could be 10% or 90% monthly depending. 

I almost want to do an 3 year experiment 18k mining vs 18k defi. The defi is compounding daily or hourly in some cases. I guess the mining is not compounding although the new mining funds could be allocated to be compounded. 

I did well on the btc mining stocks. So there is that angle for comparison too I guess. None of these are either or we can understand. 

Lastly, how loud are the miners? Like a vacuum cleaner loud or? 

I like the idea and also the heating house part from the other poster.  I wonder how the numbers and effort would compare to some defi staking. Are you saying the all in is 18k? 

I have a crawl space in basement which stays cool around 60F. How many rigs you think will it support until the need for additional cooling? 

Do you get separate Internet line for mining? How do you separate electric usage for mining so you can report as expense?

Thanks

Glad I could be informative. Feel free to reach out if you have any questions.