3 ms·

Can you really still make $100k in 3 weeks with just 10 computers? Why isn't everyone doing that? I thought you needed insane computational resources to make me

Can you really still make $100k in 3 weeks with just 10 computers? Why isn't everyone doing that? I thought you needed insane computational resources to make meaningful revenue on bitcoin anymore.

6gvONxR4sf7o 2y ago
It also says they only spent $1,500 worth of electricity. It makes me suspect it’s not accurate.
HenryBemis 2y ago
> “It was cheaper for them to rent a house to pay for that electricity.” I had a similar thought. 1) Unforeseen: When they checked-in they didn't know 'for sure' that they will make that $100k, otherwise they would do it at home and avoid the pain. 2) Showing off: How does she know for a fact that 'they made $100k'? Perhaps they wanted to show off by saying something stupid like 'hey we made $100k in a week so we don't care about the $1.5k', in which case, is anyone from the IRS reading this? 3) IRS: Someone who is stupid/shady enough to do this, is not 100% legit on all their 'business practices'
- can16358p 2y ago
  In many countries no one pays taxes for crypto mining/trading. They might be foreigners, or the money might be held as crypto overseas. (Agreed with the other points though)
- thaumasiotes 2y ago
  > in which case, is anyone from the IRS reading this? The IRS doesn't care if you lie to random strangers about how much money you have.
  - HenryBemis 2y ago
    But in the off chance these guys actually made 100k in a week by renting AirBnBs and moving desktops/servers/rigs then they might as well try to fly under the radar... If I was the IRS and wanted to find out crypto miners I would (among other controls) ask energy companies that provide electricity to retail (flats/homes/etc) to give me the outliers/extreme-right-of-the-bell-curve. It doesn't make sense that someone living in a studio of 30sqm to have a £500 monthly electricity bill unjustifiably.
hyperhello 2y ago
They could have just been gaming, charging the cars for trips, having a good time using the electricity. How would she even know what they’re doing? They probably told her that to make her bug off.
- Freak_NL 2y ago
  That seems like the most likely case. Hauling PCs sounds like a LAN party mixed with a holiday. Would she really believe the crap they fed her about the crypto mining? Even if for some miraculous reason they did make that much money, there would be no incentive to tell her unless they'd also pay her electric bill just to get rid of any unwanted attention. Just add a clause limiting the free electricity to a sensible amount, and charge at-cost for anything over. I rented a cottage (not via AirBnB) for a week and paid for my 11 kWh of use over that time at the end. Of course, these professional hosts don't actually want to meet their guests…

Can you really still make $100k in 3 weeks with just 10 computers? Why isn't everyone doing that? I thought you needed insane computational resources to make meaningful revenue on bitcoin anymore.

6gvONxR4sf7o 2y ago

It also says they only spent $1,500 worth of electricity. It makes me suspect it’s not accurate.

HenryBemis 2y ago

> “It was cheaper for them to rent a house to pay for that electricity.” I had a similar thought. 1) Unforeseen: When they checked-in they didn't know 'for sure' that they will make that $100k, otherwise they would do it at home and avoid the pain. 2) Showing off: How does she know for a fact that 'they made $100k'? Perhaps they wanted to show off by saying something stupid like 'hey we made $100k in a week so we don't care about the $1.5k', in which case, is anyone from the IRS reading this? 3) IRS: Someone who is stupid/shady enough to do this, is not 100% legit on all their 'business practices'

can16358p 2y ago
In many countries no one pays taxes for crypto mining/trading. They might be foreigners, or the money might be held as crypto overseas. (Agreed with the other points though)
thaumasiotes 2y ago
> in which case, is anyone from the IRS reading this? The IRS doesn't care if you lie to random strangers about how much money you have.
- HenryBemis 2y ago
  But in the off chance these guys actually made 100k in a week by renting AirBnBs and moving desktops/servers/rigs then they might as well try to fly under the radar... If I was the IRS and wanted to find out crypto miners I would (among other controls) ask energy companies that provide electricity to retail (flats/homes/etc) to give me the outliers/extreme-right-of-the-bell-curve. It doesn't make sense that someone living in a studio of 30sqm to have a £500 monthly electricity bill unjustifiably.

hyperhello 2y ago

They could have just been gaming, charging the cars for trips, having a good time using the electricity. How would she even know what they’re doing? They probably told her that to make her bug off.

Freak_NL 2y ago
That seems like the most likely case. Hauling PCs sounds like a LAN party mixed with a holiday. Would she really believe the crap they fed her about the crypto mining? Even if for some miraculous reason they did make that much money, there would be no incentive to tell her unless they'd also pay her electric bill just to get rid of any unwanted attention. Just add a clause limiting the free electricity to a sensible amount, and charge at-cost for anything over. I rented a cottage (not via AirBnB) for a week and paid for my 11 kWh of use over that time at the end. Of course, these professional hosts don't actually want to meet their guests…