Search content
Sort by
Showing 7 of 7 results by DawnofCrypto
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
Look, your point is exactly what I was writing about and why a dude couple of posts back went all bazooka on me. There is not enough equipment made on this planet to suffice both miners and gamers alike, there is crazy insufficiency in ASIC miners (reason why their prices skyrocketed from $1750 to $5k) and even more and more companies are trying to solve this so-called "energy cost problem", which doesn't exist in the first place. I make more money mining with retail equipment prices than they claim in their whitepapers and unlike them I'm not buying underwhelmed rx 460s and rest like.
Yes, I've read those messages.
I'm just providing another data point to support what you've said.That being said, LEffT, what are your thoughts on Giga-Watt as an investment?
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
Here's another competitor I uncovered in my research.
Giga-Watt is a mining operation based in Washington state where there is access to cheap hydro-electric power. A big advantage of hydroelectric power is that it is a green energy source with 24/7 availability. As discussed earlier, other green energy sources like solar and wind will need to be supplemented with grid or diesel power, at least until battery technology comes down in cost.
In envion's whitepaper, they claim an average energy cost of $0.03 kWh. That's pretty cheap, but interestingly, Giga-Watt's energy cost is actually slightly less at $0.028 kWh (per page 9 of their whitepaper: https://wtt.cryptonomos.com/white-paper.pdf). Both these companies have essentially the same power costs, but Giga-Watt has all their facilities at one location. This is a huge advantage as it makes building, management, and maintenance of the miners vastly easier and more efficient. One of envion's supposed competitive advantages is that with their MMU pods, they can go anywhere in the world to where energy is cheapest. But why go through the risk and expense of chasing cheap energy costs around the world when you can just set up in one place and have an ultimately lower energy cost?
Giga-Watt also has a huge head start as they are already operational and continue to expand. They also seem to be much more transparent with investor communication - between their website and YouTube, there are literally dozens of photos and videos of their existing facility as well as expansion progress.
One of their biggest problems is... securing access to miners. They simply can't get enough of them. The lack of mining equipment supply is definitely a recurring theme and I don't see how envion will be able to overcome this.
I was originally planning to put a relatively large (for me) investment into the envion ICO. I was all prepared and ready to go (MetaMask set up, sufficient ETH secured, required documents in place including having to pay to get investor accreditation since I am in the US). Last night I went to bed with enough doubt that I decided I was willing to let the initial $0.70 window pass. Now with the additional info I'm finding this morning, I feel delaying my decision was the right thing to do. Unless someone (ideally directly from envion) can address what I feel are serious concerns (specifically, how does envion expect to gain priority access to a large volume of mining components?), then I will likely pass on this ICO.
Giga-Watt is a mining operation based in Washington state where there is access to cheap hydro-electric power. A big advantage of hydroelectric power is that it is a green energy source with 24/7 availability. As discussed earlier, other green energy sources like solar and wind will need to be supplemented with grid or diesel power, at least until battery technology comes down in cost.
In envion's whitepaper, they claim an average energy cost of $0.03 kWh. That's pretty cheap, but interestingly, Giga-Watt's energy cost is actually slightly less at $0.028 kWh (per page 9 of their whitepaper: https://wtt.cryptonomos.com/white-paper.pdf). Both these companies have essentially the same power costs, but Giga-Watt has all their facilities at one location. This is a huge advantage as it makes building, management, and maintenance of the miners vastly easier and more efficient. One of envion's supposed competitive advantages is that with their MMU pods, they can go anywhere in the world to where energy is cheapest. But why go through the risk and expense of chasing cheap energy costs around the world when you can just set up in one place and have an ultimately lower energy cost?
Giga-Watt also has a huge head start as they are already operational and continue to expand. They also seem to be much more transparent with investor communication - between their website and YouTube, there are literally dozens of photos and videos of their existing facility as well as expansion progress.
One of their biggest problems is... securing access to miners. They simply can't get enough of them. The lack of mining equipment supply is definitely a recurring theme and I don't see how envion will be able to overcome this.
I was originally planning to put a relatively large (for me) investment into the envion ICO. I was all prepared and ready to go (MetaMask set up, sufficient ETH secured, required documents in place including having to pay to get investor accreditation since I am in the US). Last night I went to bed with enough doubt that I decided I was willing to let the initial $0.70 window pass. Now with the additional info I'm finding this morning, I feel delaying my decision was the right thing to do. Unless someone (ideally directly from envion) can address what I feel are serious concerns (specifically, how does envion expect to gain priority access to a large volume of mining components?), then I will likely pass on this ICO.
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
I did some research into envion's competitors and found some interesting stuff.
Apparently a company called Affinity Mining recently did an ICO. It had similarities to envion in that they intended to use renewable energy, use algorithms to calculate the most profitable coin, and distribute a certain portion of profits to token holders. What happened to this company?
See more here: https://affinitymining.io/
One could argue that Affinity made a mistake in investing in too many D3 units and that envion won't make this mistake. While that may be true, this brings up an important concern that will also affect envion. The vast majority of mining is done with industry standard equipment like Antminers or GPUs, and there is a worldwide shortage of these components. Antminers have been completely sold out, and GPUs are in tight supply with retailers limiting sales to only 1 or at most 2 per household. In order for envion to fulfill its goals, they'd need to somehow have not only priority access to these components, but priority access to a large volume of these components. How can envion, a newcomer with zero past experience in this space, be able to secure such priority access to such highly sought after components? What makes them so special compared to all the other retailers and mining companies, many who have been doing this for a long time? It just doesn't seem realistic to me.
Apparently a company called Affinity Mining recently did an ICO. It had similarities to envion in that they intended to use renewable energy, use algorithms to calculate the most profitable coin, and distribute a certain portion of profits to token holders. What happened to this company?
Quote
As most miners are aware the current mining ecosystem is changing considerably and thus impacting profitability among the newer ASIC miners, notably the Bitmain D3 x11 Dash miner. The Dash mining sector has been negatively influenced by the massive release of miners and increasing difficulty and as such it has made the units significantly less profitable. Due to a large portion of the ICO capital being invested into these new D3 units;
Affinity Mining will not be able to keep to our designated repayment schedule seen in the Business Model on the ICO website.
This means that Affinity Mines will close the ICO and issue refunds to its all affected investors.
Affinity Mining will not be able to keep to our designated repayment schedule seen in the Business Model on the ICO website.
This means that Affinity Mines will close the ICO and issue refunds to its all affected investors.
See more here: https://affinitymining.io/
One could argue that Affinity made a mistake in investing in too many D3 units and that envion won't make this mistake. While that may be true, this brings up an important concern that will also affect envion. The vast majority of mining is done with industry standard equipment like Antminers or GPUs, and there is a worldwide shortage of these components. Antminers have been completely sold out, and GPUs are in tight supply with retailers limiting sales to only 1 or at most 2 per household. In order for envion to fulfill its goals, they'd need to somehow have not only priority access to these components, but priority access to a large volume of these components. How can envion, a newcomer with zero past experience in this space, be able to secure such priority access to such highly sought after components? What makes them so special compared to all the other retailers and mining companies, many who have been doing this for a long time? It just doesn't seem realistic to me.
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
.. i dont work for envion. but i would guess they just use regular old electricity at night.
also solar is a small part of the business right. It will be a cost benefit analysis using their new system they have in place that locates cheapest prices overall, which may or may not be solar. they are also providing heat for locations using the miner and being paid for that to offset energy cost. Also remember that electricity being found cheaply is just icing on the cake. its very profitable without doing that.
also solar is a small part of the business right. It will be a cost benefit analysis using their new system they have in place that locates cheapest prices overall, which may or may not be solar. they are also providing heat for locations using the miner and being paid for that to offset energy cost. Also remember that electricity being found cheaply is just icing on the cake. its very profitable without doing that.
I agree that electricity from the grid would make the most sense, at least until battery costs come down more.
Also, your other points are good ones. I've been mining for a little bit with both Hashflare as well as a home miner, and it does seem that it can be profitable even without super cheap electricity. Of course, the big unknown is how long that will remain true as difficulty levels increase.
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
Thanks for your response, premium_domainer. Yes, I know how to Google and I'm also aware of the various way to compensate for the sun not shining at night. I said as much in my post (e.g., batteries, grid, diesel). My question pertains more to what envion specifically plans to do.
A big part of the appeal of envion, at least for me, is that they are trying to use green power for mining. Solar is of course one of the leading sources of green power and is the main source that exhibits the "excess capacity" that envion references in their whitepaper. But if, for example, envion intends to use diesel generators at night to keep the miners running, then their operation won't be as green as I'd hope.
The best from a green/environmental standpoint would be to use batteries that would store excess solar energy from the day to use at night. However, as I mentioned in my original post, it doesn't appear that they've factored in such batteries into their cost of operations (as a data point, Tesla's 10 kWh Powerwall costs $3,500). This additional cost wouldn't necessarily mean that they can't be profitable, but it would mean that they won't be as profitable as initially expected if they didn't account for this.
Similarly, if they use electricity from the grid at night, that would be an additional cost which they may or may not have factored in.
A big part of the appeal of envion, at least for me, is that they are trying to use green power for mining. Solar is of course one of the leading sources of green power and is the main source that exhibits the "excess capacity" that envion references in their whitepaper. But if, for example, envion intends to use diesel generators at night to keep the miners running, then their operation won't be as green as I'd hope.
The best from a green/environmental standpoint would be to use batteries that would store excess solar energy from the day to use at night. However, as I mentioned in my original post, it doesn't appear that they've factored in such batteries into their cost of operations (as a data point, Tesla's 10 kWh Powerwall costs $3,500). This additional cost wouldn't necessarily mean that they can't be profitable, but it would mean that they won't be as profitable as initially expected if they didn't account for this.
Similarly, if they use electricity from the grid at night, that would be an additional cost which they may or may not have factored in.
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
Asking my question again as it is one of the last remaining barriers keeping me from investing.
How does envion intend to run the solar-powered MMUs at night? With batteries? Reverting to the grid? Diesel generators?
How does envion intend to run the solar-powered MMUs at night? With batteries? Reverting to the grid? Diesel generators?
Re: [ANN][ICO] «Envion» Most Profitable Self-Expanding Crypto Infrastructure
I've been very interested in this ICO and actually read through this entire thread! I'm reasonably convinced at this point that envion is not a scam (of course you can never know for sure), but am not yet convinced that it will be a good investment.
One of the things that has bothered me is how envion plans to utilize solar. Solar is great of course, offering plentiful (in certain areas) and cheap electricity, but what happens at night? Even if you can use cheap solar power during the day, the business can't afford to have miners idling for half of every day.
One solution would be to use battery packs to collect and store electricity from the solar panels for evening use. However, this would require additional and costly equipment (for reference, Tesla's 10 kWh Powerwall costs $3,500). I don't think this is factored in to either the fixed or variable costs listed in the white paper (page 60).
Can the envion rep on this forum help shed some light on this concern?
One of the things that has bothered me is how envion plans to utilize solar. Solar is great of course, offering plentiful (in certain areas) and cheap electricity, but what happens at night? Even if you can use cheap solar power during the day, the business can't afford to have miners idling for half of every day.
One solution would be to use battery packs to collect and store electricity from the solar panels for evening use. However, this would require additional and costly equipment (for reference, Tesla's 10 kWh Powerwall costs $3,500). I don't think this is factored in to either the fixed or variable costs listed in the white paper (page 60).
Can the envion rep on this forum help shed some light on this concern?