I’ve just read the article about nostr:nprofile1qqsd0mkr73h9rts2glt732mah9w8mzj2xv7pctmjg9549tpzmk8crzqprfmhxue69uhhyetvv9ujumr9d35kwmmzd96zumrfde4szxrhwden5te0wajkccm0d4jjumn0wd68ytnhd9hx2fk809x being scammed in the Netherlands.
Sorry for your loss, it’s such a humbling life experience, but I’m glad to read that Saz could weather the storm.
🙏
I appreciate the kind words!
Excited to be speaking at Adopting Bitcoin! ⚡ #AdoptingBitcoin2025
Really enjoyed the AMA @stackernews — thanks for inviting me on!
nostr:note1ld7vhmdgjxucn006dm0ny5aawajy5dl27dcdndne792c22vdrknsvf39d9
Haven’t found anyone losing.
To each their own — we do have 350ish happy clients with 81% of them making repeat purchases.
It you consider Bitcoin money, then all of them.
Hey nostr:nprofile1qqsqt9lq9qc3z6ge2ftxzmng5r0r2d7jkskn4n74e33c5px65tmj8dspz4mhxue69uhhxatzd4shy6tw9ehkumrfdejszxrhwden5te0wgenzdre9cc8sep5xdknqm3w0puh533qrmd - since clients pay for their power, they’re the ones who determine when it’s not profitable to continue and choose to resell to other clients on our bulletin board or retire their equipment. The service agreement is for a one year term — we have purchased a few rigs from clients but it’s not something we can guarantee.
It’s on the roadmap to bring a full scale marketplace onto our platform, but we need more resources to get there — which is part of the motivation to raise!
We sold out of our air cooled units but I’m traveling to Ethiopia to diligence a couple of data center opportunities next week and hope to have more capacity to offer shortly after.
nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqydhwumn8ghj7mn0wd68ytf39ehxymewv9hxwctwdyhxxmcqyrt7asl5deg6uzj86l52kldet37c5j3n8swz7ujpd9f2cgka37qcsnr5hsn (Sazmining CEO) asked, in a comment to my post, what nostr:nprofile1qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qpq0vkwadgkfkg9vzpe04a6rhpzrd8rlw0r84qelag5hgtycrykgz3qyzqfdf could do to improve transparency.
Well, Sazmining should consider clearly stating the criteria and assumptions used to derive the advertised $58K/BTC purchase price. This will enable prospective clients to make a more informed decision.
Additionally, Sazmining might publish aggregate data about users/rigs and their contributions to Luxor's hashrate, allowing everyone to verify that they are receiving a fair share of mined sats.
Finally, Sazmining might release quarterly financial reports to reassure customers that their trust is reflected in the company's profit and loss statement (P&L) and balance sheet.
Thank you for the feedback, Marco.
The “Don’t Trust, Verify” button on the homepage of our website provides transparency for clients to validate the assumptions used in the Galaxy Digital Cost to Mine a Bitcoin model which is currently $58k.
While, I’d love to have Luxor auditability, this is not a feature that’s been developed on their end yet. More market pressure from us and other miners helps!
Disclosing financials publicly is not something we intend to do right now. I can’t justify the expense considering other organizational priorities.
Also of note for others who may be reading: we have a client only Telegram community where myself and most of our staff is available and responsive for Q&A. We also have a monthly Town Hall for all clients to provide feedback directly.
Indeed, Marco, I’d love to learn more about where we could do better transparency since it is one of our core focuses as a business.
We did a website redesign and chose to focus on the cost to mine a bitcoin instead of ROI. Why? ROI doesn’t make sense if you’re in it to stack sats but comparing the price to the price on exchange does.
The previous calculator was full of disclaimers including that it was a a projection based on the bitcoin price and difficulty at the time of purchase.
Stoked you made it!
Congrats on your baby’s arrival! And welcome to parenthood for you and your wife!
Never again!
Getting in the water? Good surf in those parts. Especially right now…
GM #nostr
PSA: Air conditioning is making the Amazon habitable.
#ThankGodForAC
True!
In hindsight, embarrassment was clearly a driving force bettering our product nostr:npub10vkwadgkfkg9vzpe04a6rhpzrd8rlw0r84qelag5hgtycrykgz3qvty3ep since launching Jan ‘23.
nostr:note13uafggeu9rkhtewd52sljyw9fmt9wxs3kulylxqx4nj4va567qys3v2fej