Quote from: mikeywith on July 06, 2021, 09:29:54 PM

Quote from: PrimeNumber7 on July 06, 2021, 03:51:29 AM

he can repurpose the miner to mine on a pool account that does not belong to the owner of the miner.

They might as well just ask you to get lost and say you do not own any miners, thus, operating without being under a "legal umbrella" outside of your country is a huge risk, think about all the bad things that happened to those greedy folks who sent their miners thousands of miles away for cheap hosting, while many hosts were straight out scammers, some others were "smart" scammers, they would let your gear mine for say a month, and then tell you "The PSU was broken, you need to send a replacement or we can buy it for you locally to save you shipping time and cost", what choice do you have? pay them for the PSU, a few weeks later, the control board is dead, rinse and repeat.

It's completely impossible to conduct such business without

1- Being at the site physically

or

2- Trusting the other person 100%

Maintaining a large mining farm takes some serious manpower, do not listen to those who tell you it's just "plug n play" and you can just sit at home and earn BTC, there will always be issues that you need to attend to, the more miners you have the more likely you face issues, so are the Chinese going to send workers over to some other country? how about the Visa and all the legal documents? does Iran or Khazatitan or whatever potential country have enough people who know to maintain large mining farms? are they trustworthy? if not - back to square zero.

Mining in China was like heaven on earth, the Chinese will never find a better place, they had access to cheap gear, almost zero transportation cost, you just reverse the truck in one of the warehouses in Shenzen, load it up and drive for a few minutes or hours to your farm, as easy as it gets, how does that compare to transporting it to the port, getting all the customs clearing shit done in China, paying a large amount of money for shipping and insurance, going through the same custom clearing, import duties shit and then sending the gears to the farm!

In China, you could hire 50-100 experienced people to set up the farm in no time at a very low cost, elsewhere, you will pay a lot more to hire less experienced people to do that, or of course, you can send your own people from China which will come at another cost.

Another issue is the repair services, large miners in China were offered on-site repair services by Bitmain and other major mining gear manufacturers, your gear stops mining? call Bitmain and they will send someone to fix it at the site, what do you do when you have 1000 gears that need fixing in El Salvador?

All the above issues can be solved if enough money is thrown at them, but mining profitability is somehow tiny compared to the cost, every expense matters, all of these factors and more will slow down the reallocation of those gears.

.

That is a flat out score for out of China miners.

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https://diff.cryptothis.com/

Latest Block:   689958 (16 minutes ago)
Current Pace:   90.4026% (487 / 538.70 expected, 51.7 behind)
Previous Difficulty:   19932791027262.74
Current Difficulty:   14363025673659.96
Next Difficulty:   between 13006477047510 and 13753686696474
Next Difficulty Change:   between -9.4447% and -4.2424%
Previous Retarget:   last Saturday at 2:25 AM (-27.9427%)
Next Retarget (earliest):   July 17, 2021 at 5:34 PM (in 10d 21h 22m 7s)
Next Retarget (latest):   July 18, 2021 at 2:05 PM (in 11d 17h 53m 14s)
Projected Epoch Length:   between 14d 15h 9m 8s and 15d 11h 40m 14s

...

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Even if we do a -5%. we drop from 14.36 to 13.64 the real key is the rise back up. It could take a year to get back to 25> personally I think we get back to 25 in Feb or March.

A stable price in the 30-40k area is still very good for any established miner.