I’ve chosen the yolo route. BitAxes are a sunk cost, a perpetual (or as long as they last) chance of hitting a juicy block.
If it happens, awesome. If it doesn’t, oh well.
I’m starting to think #BitAxe pool mining actually can be profitable, if you lengthen your time preference sufficiently. Maybe.
One option is the mini-pool/block-party mining endeavors like the one we enjoyed today. We’ll find a block soon enough; just need to stare at our BitAxes with a bit more intentionality.
Math approach: lightly overclock a Gamma to earn ~69 daily sats in a pool with Lightning payouts (nice)…
That’s 25K sats per year. You spent approximately 150K sats on the BitAxe (or around $150 today). Say Bitcoin appreciates 2x over 3 years (75,000 sats at $200K BTC/USD). Hardware cost is now paid for. Another 3 years and you‘ve earned 150K sats (worth ∞ pieces of clown paper at this point in the fiat timeline).
Electricity is negligible — offset it by unplugging your printer when you aren’t using it, or something.
Difficulty adjustments, network hashrate, and hardware improvements/efficiency gains notwithstanding, it’s easy math 😂
In any case, the 69 sats I mined yesterday will eventually pay for my grandkid’s college tuition, so — like I said — just gotta lengthen your time preference.
Thanks to nostr:npub1t6el40knsq8hmrpr0m6tt3t0tr4pdeyhlt2qelwhgtwawddqx0xsv03scu and nostr:npub1nl8r463jkdtr0qu0k3dht03jt9t59cttk0j8gtxg9wea2russlnq2zf9d0 for inspiring today’s #showerthoughts
