I found this video rather interesting.
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I found this video rather interesting.
<iframe src="https://www.youtube.com/embed/K8kua5B5K3I" allowfullscreen="" frameborder="0" height="315" width="560"></iframe>
Quite interesting. The whole "office" for employees though, looked a bit depressing? Makes me wonder how they raised the money for such project, cause that looked like a heavy investment Not to mention how does the Chinese government feel about this :D
Very impressive video, I still hear the sound of the cooling systems.
They could have better conditions for a few employees, it wouldn't cost much money for Bitcoin Millionaires.
Maybe the largest investor is the Chinese Government, who knows ?Quote:
Makes me wonder how they raised the money for such project...
They probably started off small and expanded over time to where they are to day. I don't think there is anything sinister about their set-up. They also don't need a fancy office as there aren't any clients that come to visit. Compared to stereo typical type of Chinese sweat-shops it looks quite cozy. A good way to keep costs down in case everything does go belly up with the currency.
Bit coin is the future? have you seen how unstable that currency is?
Very interesting - thanks for posting.
I note that they had mined 4,000 bitcoins "worth" $1.5m at the time .. but at todays price of $230 - they are worth just 920K
:anger:
Electricity at 80K a month? That's a big running cost - approx 350 bitcoins a month.
When you add up the cost of equipment and employees ... I'm not sure that I see the profit.
Love to see the complete numbers and understand whether the decreasing rewards rate has pushed this below payback now.
It's a good video but I do not see Bitcoin as the future of currency
Good Video! Bitcoin is the future :)