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Showing 4 of 4 results by cmfourie
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Re: Borrowing a bitcoin to buy a miner, generate a bitcoin and pay it back
by
cmfourie
on 21/05/2025, 15:41:43 UTC
4. Use the bitcoin miner to pay back the bitcoin once a bitcoin has been generated
According to SoloChance.com, you'll have a 1 in 21,934 chance to find a block. That's a nice way of saying you'll never pay it back.

Did not realize the odds are that bad. Then I might just as well wash windows after hours instead.
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Re: Borrowing a bitcoin to buy a miner, generate a bitcoin and pay it back
by
cmfourie
on 21/05/2025, 10:12:19 UTC
If that was an option, then I would have chosen that option instead of posting on this forum
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Borrowing a bitcoin to buy a miner, generate a bitcoin and pay it back
by
cmfourie
on 21/05/2025, 09:21:44 UTC
Hi Everyone

I am in a financial situation where having a bitcoin would come in really useful. The idea I have is as follows:

1. Borrow a bitcoin from someone who would be willing to lend me the bitcoin
2. Use some of the funds from the bitcoin to pay off debt (roughly $23 000)
3. Use the other funds to buy a bitcoin miner. Looking at getting the Antminer S21 XP with 270TH/s
4. Use the bitcoin miner to pay back the bitcoin once a bitcoin has been generated - even pay back two bitcoins as a ROI opportunity.

If there is anyone willing to take a chance, please let me know. I know it is a long shot, but this is the best idea I can come up with. I just recently joined so have a low activity rate so I do understand that this post will most likely generate a fair amount of hesitation and distrust.

Thank you
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Borrowing a bitcoin to buy a miner, generate a bitcoin and pay it back
by
cmfourie
on 20/05/2025, 09:58:58 UTC
Hi Everyone

I am in a financial situation where having a bitcoin would come in really useful. The idea I have is as follows:

1. Borrow a bitcoin from someone who would be willing to lend me the bitcoin
2. Use some of the funds from the bitcoin to pay of debt (roughly $23 000)
3. Use the other funds to buy a bitcoin miner. Looking at getting the Antminer S21 XP with 270TH/s
4. Use the bitcoin miner to pay back the bitcoin once a bitcoin has been generated - even pay back two bitcoins as a ROI opportunity.

If there is anyone willing to take a chance, please let me know. I know it is a long shot, but this is the best idea I can come up with.

Thank you