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/biz/ - Business & Finance

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4393081 No.4393081 [Reply] [Original]

Going to start a mining business. Researched and nailed down supply chain, already got capital and a fuckload of customers not looking for investors, not selling hashpower contracts and don't need anyone to talk me out of it. Goal is not fiat profits but to accrue crypto for trading and take advantage of the slowly dawning realisation of the sector that paying miners actually matters.

Can't decide on final location. Thinking Taiwan due to proximity to major mining activity coupled with fairly low taxes no interference from mainland chinese government and their entrepreneur visa, as well as cheap grid kWh's, but almost tempted to get some solar or hydro stock from alibaba and deploy in Japan instead. Anglosphere citizen, not burger.

Thoughts, suggestions welcome.

>> No.4393103

got a perfect country for you, Cost wise, goverment wise, and weather wise.

0.01 Btc for the info

>> No.4393120

>>4393081
bosnia. cheap power supply. get in, i have conns.

>> No.4393161

Why not do it in Scandinavia or Iceland? Much lower risk of getting fugged by gov, even if you have to pay higher taxes and all.

>> No.4393176

>>4393120
>>4393161

to much retards in itt, Bosnia unstable AF, Scandinavia fucking expensive tax wise and Kwh

>> No.4393190

>>4393161

Grid power in EU is more expensive than TW from my research, and I'm aiming for 100kW+ deployments so every cent matters.

>> No.4393212

>>4393081
How is Taiwans enterpreneur visa? Could i go there as a daytrader and open a trading business there? (we are 5 looking for a good location).

>> No.4393224

>>4393212

My understanding from brief research is 63k USD investment in the business makes it eligible. I believe the employee limit mentioned was three though.

>> No.4393248

taiwan they're very well educated, i would invest there, you can put solar there too bro, nice, i wish i could journey like you...but i have 2 rigs in my shit country (Brazil) with sh*t taxes (800usd for a 1070) and sh*t energy (0.18usd pkwh) put all my money into that and i expect a ROI in 2 years :(

>> No.4393292

>>4393248
on the bright side I hear the girls there do great anal.

Actually one thing I did notice in my research with regards to south america was there's some enormous fuck of a hydro plant, the Itaipú Hydroelectric Power Project, Brazil and Paraguay, where someone was pulling down kWh's at 0.02c USD.

Wish I knew how to get in on that tasty action. Knowing South America though I suspect it might just be asking for trouble.

>> No.4393333

>>4393292
I'm paying 0.023 usd /kwh. in Sweden as data centers are given tax break on power.

>> No.4393348

There was another anon on here in an underground cavern, mining as well. His setup looked really legit. I wish I saved the pics, because it was very interesting.

>> No.4393349

>>4393292
20 guys with ar15 would break in and stole all your gpus...dont do that here...seriously

>> No.4393361
File: 583 KB, 2016x1512, 20170911_234912.jpg [View same] [iqdb] [saucenao] [google]
4393361

>>4393348
t-that's me.

>> No.4393365

>>4393333

You wouldn't happen to know if this extends to Svalbard by any chance? I believe it's technically Norway but because of old Svalbard treaty we get easy access to it.

And although that power rate does indeed sound pretty great, two things in general worry me about Scandinavia.

1) Taxes. If they give you 0.023 usd kWh but levy some ridiculous tax at the same time maybe at the end of the day you end up behind? I'm thinking though that a mitigating factor here is since I'm not aiming for fiat profits, I can "limit" what I make in that sense, and trade purely through offshore entities. Fear this might be begging their tax authorities to mess with me though.

2) Rejected shares / Orphans. Is this a problem in operations over there?

>> No.4393376

>>4393361
That data centre specifically looks familiar. I think I might have read an article about it, old bunker or cave or something right? You own the entire thing or lease or how does it work?

>> No.4393381

>>4393361
YES... that is so pretty to look at. Post more pics man.

>> No.4393388

>>4393349

Suspected as much. Thanks for the confirmation. I hope things get better for you there.

>> No.4393398

>>4393365
1) They don't tax you until its in fiat. So you could move it overseas. But it would be a 25% tax on profits, and 25% VAT on anything you buy in the country.

2) No, Sweden has one the best networks in the world, the old state telecom Telia International carrier (which now is privately owned) owns about 40% of the worlds fiber cables, and ~70% of the transatlantic cables.

I know Norway have something similar for data centers, but I don't know the details of it. Sweden was the last of the Nordic countries to implement a tax break on power for data centers.

>> No.4393426

>>4393398

Ok. Looking into it for sure now with those power prices and that tax setup I think I can probably make it work. Thanks a ton for the information.

>> No.4393445
File: 685 KB, 1512x2016, 20170809_151938.jpg [View same] [iqdb] [saucenao] [google]
4393445

>>4393376
Not mine, only pics that exists are mine. Bought it on a government auction site for ex-military properties.

>>4393381

>> No.4393449

>>4393388
i dont have another option, i have to keep fighting or me and my family, bro, i wish you the best, send me pics, caibalion at protonmail dot com
when you make your warehouse, that must be a thing of beauty

>> No.4393522

>>4393445
That is really badass. Do you have more pics? And more details about it please, like ventilation, how many your running, and how the fuck you afford that haha

>> No.4393576

>>4393426

Added benefit of considering first world countries is existing "secondary" infrastructure.

Hydro power in the arse end of china is cheap. Security, language barrier transportation etc won't be. I wouldn't know how to cost those logistical barriers, but perhaps something that could add more weight to a NA or EU base?

Wasn't alaska, midwest and iceland home of some huge altcoin mining factories because cooling solutions were so easy in those climates?

>> No.4393629

>>4393576
I can't believe I'm asking this question, but is it really practical to just up and move to the US these days and start a mining business? Is all the red tape hype and such just not true? It seems to be an extremely inhospitable climate for foreign investors even from other Anglosphere countries.

I have mental images of endless visits to bland bureaucratic offices staffed by halfwit normies filling out pointless forms and pay high fees every time I want to take a piss. Unwarranted?

>> No.4393628

>>4393081
Build it in Heilongjiang province in the Northeast of China, and I will partner with you, and lead you to some possible men that could make it easier. Already planted the seeds on that.
Seriously. e-mail me : imacrackedmachine@outlook.com

>> No.4393643

I've got a means of accessing a free source of renewable energy. It would run for perhaps 80% of the year but the amount generated would surge at times. At a guess I'd say it would be enough to power 5-10households. WAs contemplating looking into selling it back to the grid but mining interests me.

Worth a punt?

>> No.4393659

>>4393176

In what way is Bosnia unstable?

>> No.4393686

>>4393081
Island has the lowest power costs worldwide. Genesis Mining has a farm there too. As electricity is a huge ass factor in a mining calculation you should take it as an option.

>> No.4393715

Either Iceland or Romania
Or you can stop being a faggot and hack the grid and pay only for the lighting (so you don't draw suspicion).

>> No.4393733

>>4393686
Cool climate for better cooling solutions and an educated populace that speaks english making everything easier. Iceland is a good option.

>> No.4393757

>>4393643
To provide some useful content in return for the assistance anons have been providing and directly address this;

Assuming 5-10 households maps to 2kW households let's split the difference and call it 7.5kW

An S9 will run you 1.3kW (single machine setup just for simplicity's sake)

So maybe you can run five machines off your source at once. If you could keep them running 24/7 365 they would produce 5.71225 BTC at the current highest paying SHA256 buyer rate.

Should be noted that this figure is presently inflated due to the BCHBTC civil war, with USD having to constantly bid up the hash power price or risk chain death. It is nowhere near as precise as saying buy x get y in actual practice.

Should also be noted since it's not a constant power source your output will necessarily fluctuate with it.

>> No.4394362

>>4393445
How much did the bunker cost?

>> No.4394534

>>4393081
Bulgaria, it's as stable as it gets since it is under the EU and wait for it, fucking 10% taxes. No income tax or anything else, just a flat 10%. What's even better is the cheap and fast internet with cheap electricity, plus a rapidly growing IT sector

https://en.wikipedia.org/wiki/Taxation_in_Bulgaria

As a Bulgarian who was about to do what you describe I'd definitely do it here, tho I don't know about you specifically

>> No.4394987

>>4393081
>e.
Trinidad & Tobago. subsidized electricity, no crypto regulation, middle of the caribbean, seeking international business at the moment, Physical forex shortage atm (so you can make 30-40% gains on your forex by selling on the black market),

stable political and social climate.

If you want more info, help or anything contact nike245@protonmail.com

>> No.4395011

>>4393445
bunkerbro from /diy/?
holy shit

>> No.4395064

>>4394534
In Bulgaria you can also get pretty cheap electricity if you get connected to the right people (someone who owns a hydro plant)

>> No.4395070

>>4393757
>2kW
my 400 sq foot apartment's service maxes out at 15kW so you're just wrong.

>> No.4395103

>>4395011
can u post the original thread?

>> No.4395118

Where did you source your investors?

>> No.4395120

>>4393361
comfy af

>> No.4395128

>>4393445
what am I looking at

are these antminers


can I work for you

>> No.4395142

>>4393361
please let me live in your cave

>> No.4395157
File: 36 KB, 778x512, 1504707728132[1].png [View same] [iqdb] [saucenao] [google]
4395157

>>4393361
please take more pics mr bond villain

>> No.4395220

>>4395103
>>>/diy/1254945
ctrl+f 1259259
it's not the first bread, it's the last one.
He's the best guy on 4chan.

>> No.4395616
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4395616

>>4393361
Holy fucking shit it's literally cryptobatman
Please start namefagging and let's have /mining/ generals every day

>> No.4396644

>>4393361
>actually mining in a makeshift mine
The absolute madman

>> No.4396658

>>4393103
heres that info for free - Iceland

>> No.4396689

>>4393361
This is the greatest thing I've ever seen on biz

>> No.4396692

>>4393361
>>4393445

so uhh are you actually mining cryptos here or just hosting a datacenter. those look like standard compute sleds not asics and I don't see any GPUs