Simply_Byron

Work hard play hard

[Simply_Byron @ByronSimply]

@KenobiNakamoto @cazenove_uk @compass_mining @captainkeel @Bitfarms_io @JMellerud @sebastian_ski @wsfoxley @talkinInvesting Mixing = miners. Darn autocorrect.

[Simply_Byron @ByronSimply]

@JustLeviOK @HiveBlockchain Although that is true for Bitfarms...ETH mining takes significantly less energy to mine. Therfore HIVE has been relatively more profitable over the same period of time as compared to Bitfarms. I curious though how HIVE transitions from ETH. Hut8 had a strategy. Is HIVE similar?

[Simply_Byron @ByronSimply]

@cazenove_uk 3) will ultimately win big when BTC price rebounds. And current mining efficiency would mean less than HODLing as compared to sellers.

[Simply_Byron @ByronSimply]

@cazenove_uk 2) ...and then sold when BTC prices are low...means sognificant loss of value of the coin mined (resources utilized to mine..then coin sold at lowest price = poor ROI). So although a mining efficiency rank may be higher or lower...I feel the miner that HODLs during crypto winter

[Simply_Byron @ByronSimply]

@cazenove_uk 1) The way I see it...mining more BTC now when prices are low and HODLing should increase the value of the coin they actually mine because when the price of Bitcoin goes up..the coin mined during this time will have a greater return. Whereas coins mined in a crypto winter...

[Simply_Byron @ByronSimply]

@cazenove_uk Shouldn't $Hut get a little more recognition for likely being the only miner not to sell Bitcoin in a down market / crypto winter? They followed through on their business plan of HODLing every BTC mined by developing alternative revenue streams.

[Simply_Byron @ByronSimply]

@Sevy771 @bigsuey 3) ...If bitcoin payment can be as easy as credit card payment or attached to credit card technology it could speed mass adoption. But the perfect balance between old and new technology and allowing access has not been achieved yet. The sweet spot has yet to be discovered.

[Simply_Byron @ByronSimply]

@Sevy771 @bigsuey 2) ...exorbitant or confusing fees, or bitcoin payment can be as simple as Tap pay I'm Canada, then usability will remain a barrier to mass adoption. Access to the technology also remains a barrier because many countries have poor access to internet or mobile phones. If...

[Simply_Byron @ByronSimply]

@Sevy771 @bigsuey 1) The case for decentralization gets stronger due to this incident sure...however, bitcoin is still a long ways away from mass adoption because of usability and access. Until your average everyday citizen can receive and send bitcoin through a simple app that doesn't charge...

[Simply_Byron @ByronSimply]

@Hut8Mining Meanwhile...Hut8 bought the Data Centre business for $30 mill..and now generates $1.6 mill/month (thanks @odiego_cardoso ) so Hut8 doesn't have to sell BTC. That's smart to me /Hut8 will benefit tremendously when value of BTC shoots up. Better than Riot selling 300 BTC.

[Simply_Byron @ByronSimply]

@Hut8Mining Interesting fact. Riot sold 300 BTC worth $6.2 mill. Had they sold it at ATH of $64.5 million, they would have made $19.3 mill instead of $6.2. Hindsight is 20/20 of course but HODLing and mining through crypto winters means the upside is much higher when BTC recovers. Meanwhile

[Simply_Byron @ByronSimply]

@Hut8Mining Well done Hut8! It should be highlighted that Hut8 never sold a coin while competitors did. Bitcoiners know what HODL means but not everyone does. Bravo for your HPC and Data Centre strategies.

[Simply_Byron @ByronSimply]

@bigsuey Whatever you do...just don't tell Alexa or Siri to make a paperclip. If you want to live.

[Simply_Byron @ByronSimply]

@cazenove_uk @MarkEiraowen @HiveBlockchain @1RandomInvestor @thinklikeawhale @daz_barton472 @bulldogholmes Would this have anything to do with the fact they have facilities in different countries like Sweden and Iceland, so reporting requirements may be different?

[Simply_Byron @ByronSimply]

@NBerte93 @Hut8Mining Since Hut will be extremely profitable with both Bitcoin mining and HPC computing data centre's, they have to hire and delegate to squeeze the most out of every drop to be even more efficient and profitable. Well done!

[Simply_Byron @ByronSimply]

@AlonzoGondar @HansNakamoto @bigsuey @JaimeLeverton Going to PoS will not drag an ETF down. GPUs can also be converted to HPC which is extremely profitable and possibly more profitable than Bitcoin itself at these levels.

[Simply_Byron @ByronSimply]

@AlonzoGondar @HansNakamoto @bigsuey @JaimeLeverton PoS has no set date yet and could be continually kicked down the road. And once that happens, the Nvdia GPUs can mine other coins and convert to BTC. The energy requirement is much less than ASICS and profit margins 95% or more.

[Simply_Byron @ByronSimply]

@AlonzoGondar @HansNakamoto @bigsuey @JaimeLeverton I think you're mistaken. The fact they're mining ETH and converting to bitcoin means they are producing bitcoin at less than $3000/coin. Typically ASICS and the other miners COST $5000 to $8000 per coin. Both HIVE and Hut8 are very efficient and profitable.