Thanks for the transparency and info. Very well laid out risks and pros. In the non-summer months I’ll mine on my gaming PC but otherwise it’s a Gemini DCA strategy for me!
Great video! I had miner (hosted by Compass Mining) go online earlier this year. It actually came online earlier than expected, which was great. However, I’ve been disappointed by the amount of downtime. My facility in Oklahoma also was shut down in June, so Compass is moving my miner to a new Texas facility later this month. If I had to do again, I would have opted to just continue DCAing, especially given the bear market prices that we’re seeing.
Yeah it will be interesting to see how they compare over years - I’d probably agree with you though, would be nicer to have the cash right now than the miner haha.
Delayed over a month so far. I regret buying and hosting. Compass has given me no timeline and every day with the delay of 6 miners sucks. The halving is fast approaching, which further adds to the frustration. Thanks for the video
Man, it's tough to hear about your experience (and those in your comments). Still, it's hard not to see the current prices they are advertising and not want top jump in when you can get 100 TH/s at under 4,500. I'll stick to DCAing for now but hope to hear more if and when you get up and running.
Good risk analysis. It's a question of scale. You need to build a spreadsheet model and figure out the return on Compass v. another hosting faciilty or even self-hosting, and go from there. If you're only running one or two miners it might be wise to find a datacenter with excess capacity (even a friendly employer), and work something out. That way you can control some of the risks you mentioned. Compass' biz model doesn't totally make sense to me because if mining was truly profitable there, why wouldn't they keep the resources for their own miners?
Compass doesn’t have a mining operation - last I heard they didn’t have plans to start one because it’s sort of a conflict of interest (what you said is 100% correct, it would be better for them to just mine the bitcoin themselves). Maybe now that they’re under new leadership they’ll move in that direction.
Let me tell you my compass mining story! It's a long one and I will probably do a video to make it easier on me. If that's something you'd like top hear, it's interesting....
Still not online. Going to reach out again this month and see if there are any updates. If it doesn’t go up sometime this year idek man Definitely worst investment I’ve ever made
Rhett - I hope you do an update when you finally have your miner up and running. Every now and then I’m tempted to get onto mining, but the algorithm god recommends this video and calms the impulse right down. But still, those rigs seem supremely cheap at the moment!
Thanks for the transparency and info. Very well laid out risks and pros. In the non-summer months I’ll mine on my gaming PC but otherwise it’s a Gemini DCA strategy for me!
Cheers Brandon 😁 yeah I think DCA is the way for most people
Great video! I had miner (hosted by Compass Mining) go online earlier this year. It actually came online earlier than expected, which was great. However, I’ve been disappointed by the amount of downtime. My facility in Oklahoma also was shut down in June, so Compass is moving my miner to a new Texas facility later this month. If I had to do again, I would have opted to just continue DCAing, especially given the bear market prices that we’re seeing.
Yeah it will be interesting to see how they compare over years - I’d probably agree with you though, would be nicer to have the cash right now than the miner haha.
You obviously gave this video a great deal of thought, and I appreciate you sharing your experience.
Glad to help :)
Delayed over a month so far. I regret buying and hosting. Compass has given me no timeline and every day with the delay of 6 miners sucks. The halving is fast approaching, which further adds to the frustration. Thanks for the video
Yeah mine has also been delayed indefinitely. Worst investment of my life (so far)
Glad you are doing this analysis on Mining. No one else is doing it. Would be interested in your comparison of DCA vs Mining.
Here’s a DCA vs mining analysis :D
czcams.com/video/88Go8W9JPU0/video.html
Man, it's tough to hear about your experience (and those in your comments). Still, it's hard not to see the current prices they are advertising and not want top jump in when you can get 100 TH/s at under 4,500. I'll stick to DCAing for now but hope to hear more if and when you get up and running.
Yeah 100%, I’m thinking of buying another one haha wanna make sure the first one comes online okay first though fingers crossed 🙏
Great vid. This channel is way undersub’d so commenting for the algorithm.
I agree haha
Thank you 🙏🙏🙏
Good risk analysis. It's a question of scale. You need to build a spreadsheet model and figure out the return on Compass v. another hosting faciilty or even self-hosting, and go from there. If you're only running one or two miners it might be wise to find a datacenter with excess capacity (even a friendly employer), and work something out. That way you can control some of the risks you mentioned. Compass' biz model doesn't totally make sense to me because if mining was truly profitable there, why wouldn't they keep the resources for their own miners?
Compass doesn’t have a mining operation - last I heard they didn’t have plans to start one because it’s sort of a conflict of interest (what you said is 100% correct, it would be better for them to just mine the bitcoin themselves). Maybe now that they’re under new leadership they’ll move in that direction.
Thank you mate !!
Cheers :)
My miner paid for in November with compass is still not online. No way I’ll break even before the hardware is obsolete now.
Especially since the market crashed :( sorry to hear that man
Let me tell you my compass mining story! It's a long one and I will probably do a video to make it easier on me. If that's something you'd like top hear, it's interesting....
I’d love to hear it
Awesome, I'll link it when I get her done!
czcams.com/video/Tb_RDZFmyAA/video.html
, sorry I tried to keep my story under 10 min
Hi Rhett, do you have an update about your mining rig?
Still not online. Going to reach out again this month and see if there are any updates. If it doesn’t go up sometime this year idek man
Definitely worst investment I’ve ever made
@@RhettReisman I hope it works out in the end. Thank you for your work!
Yeah we’ll see haha. Glad to help :)
Rhett - I hope you do an update when you finally have your miner up and running. Every now and then I’m tempted to get onto mining, but the algorithm god recommends this video and calms the impulse right down. But still, those rigs seem supremely cheap at the moment!