it is all about cost. you need rock bottom energy costs for it to be truly profitable.
Just heard nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgpz4mhxue69uhkummnw3ex2mrfw3jhxtn0wfnszynhwden5te0wahhgtn4w3ux7tn0dejszxthwden5te0wdjkuerfwshxummnvekxzun99e3k7mgrcp7e2 say "you probably shouldn't mine #bitcoin, it's a very cut throat business" on the nostr:nprofile1qqsg2zqd8wkhpnxu6lm5c2dyfa2mhpwte57apjae2ldp6g2mmwf3ypqpz9mhxue69uhkummnw3ezuamfdejj7v5unzt podcast.
Can someone elaborate for me? What makes it a cut throat business?
Are you mining?
#asknostr
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If you are in for the money, yes
Also a combination with heating makes sense to share the costs but nevertheless its a journey and its a option to get your DCA bitcoin via a none KYC method.
Even including your own minepool
So there is a bit more to the journey which doesn’t make it easier either
yeah but i took the comment as a business, not in my basement.
Ok in what way then if i may ask, eg alike the Mara, Hut and iris business or more like for plebs business offering a smaller mining pool to support decentralization?
yeah, like the larger publicly traded miners. not the neat side projects or heating use cases or plebings. those i would put into the all businesses are hard category, not the cut throat mining one.