Quote from: cryptosize on October 16, 2022, 08:26:31 PM

If you have faith that BTC will increase at least 10 times (200k USD = conservative estimation) during the next bull run (2025), then repaying those loans is a no-brainer.

Yes, it's a gamble, but more of a calculated risk I would say.

It poorly calculated risk!
Why take a long at 10% interest rate when you could simply take a normal loan from a bank at 5% and buy directly bitcoin if you think it will increase 10x times?
Oh, wait, why even bother mining at a revenue of 6cents/ths when you could dump the gear and buy coins directly?
This is just another profit-grabbing scheme from Binance that will put into bankruptcy everyone who falls for it.

Quote from: seoincorporation on October 17, 2022, 06:36:53 PM

And why doesn't Binance use those $500M to mount their own mining farm?

Because they themselves are not stupid, they look for stupid businessmen!

Quote from: kamvreto on Today at 09:39:34 AM

The Salvadoran government in September began harnessing geothermal energy for bitcoin mining from a factory at the base of the Tecapa volcano, 106 kilometers (66 miles) east of the capital, owned by a company that is part of CEL (Comisión Ejecutiva Hidroeléctrica del Río Lempa)
The plant produces about 102 megawatts, and the government plans to add another five megawatts next year. Currently, 1.5 megawatts are allocated for bitcoin

You actually believed that PR crap?
The news is from 2021 , so it was supposed to happen this year and as you can see, forget about mining with green energy, they were actually setting up a LNG import terminal:
https://www.offshore-energy.biz/bw-tatiana-fsru-in-1st-sts-lng-transfer-in-el-salvador/

Quote from: cryptosize on October 17, 2022, 04:37:15 PM

1 BTC could be worth the equivalent of billions of $$$ by 2136... so 1 sat could matter a lot by then.

And following this logic, if one satoshi reaches 1 million, how are you going to get your change when buying not a coffee but a car? Grin