I loaned @bbkoopsta 0.1 BTC worth of STEEM/SBD for a small crypto mining operation in Algeria
It all started, when I saw his post about building a budget mining rig:
https://steemit.com/mining/@bbkoopsta/a-150usd-ddr2-budget-mining-rig
I commented, how important energy costs are. (In fact hardware costs are secondary)
He only pays 0.05$ the kWh and I thought he would do much better with the setup I have.
Turns out: sending my hardware via postal service from Germany to Algeria would cause some trouble with customs regulations and taxes (not to mention the costs for the parcel).
After some thought, I decided it's best to send crypto, so he can go and buy some new hardware locally.
I sent 0.1 BTC for a R9 280X
I like that card, because I own one myself.
It's not the most energy efficient card, but at 0.05$ / kWh it should still mine a decent profit.
What could go wrong ?
- @bbkoopsta could take the BTC and run
We agreed it's best to blog about this on Steemit.
It will raise his reputation and through blogging we can both make a little extra profit.
It comes down to trust, but if we do this right, I think we can both profit.
- the card could die
I'm willing to take that risk.
Initially I didn't realize, how hot it is in Algeria.
That will also result in some more energy costs.
Still more profitable than Germany.
- cryptos could crash
That can always happen, but I'm willing to take that risk, too
So all I can do now is hope he finds a good card and it survives the desert heat long enough, so he can pay me back with a little interest. At the current rates it should be paid off rather quickly.
I will reinvest all into STEEM.
... if it works out :)
I recieved the amount & im going to cash them soon on local forums! and when that happens i will make a post about it as an confirmation! thanks a lot for your help.
That's just fantastic. What a great co-op. Looking forward to read how things develop.
I will keep you updated about this! Thanks a lot im glad you like the idea :)
Good for you. So, you are a loans hark now.
:D
I hope it all works out for you and it gets paid off swiftly.
Thanks.
I'm not worried about the timeframe.
Lavish deed
I subscribe to you!
interesting topic
Thank you!
This is great! Heres to the card having a long and profitable life!
Excellent. Risks and Opportunities. People helping people. What a great blog!
Best of luck to you both.
Thanks for sharing
Have a great weekend