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/biz/ - Business & Finance


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21398950 No.21398950 [Reply] [Original]

>Bro just rented a house with included electricity
>He's about to spend his $30,000 life savings on crypto mining rigs

Is there any way this ends other than badly? I've tried to talk him out of doing this, but he won't listen.

>> No.21399014
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21399014

Hope he cleared the usage with the landlord. Good luck trying to explain a 1k+ powerbill.

>> No.21399020

>>21398950
looks pretty high tech, he might be on to something while you are serving burgers at Mcdonalds.

>> No.21399029

Could be good learning exp. for him

>> No.21399034

>>21398950
Hope he read the contract

>> No.21399045

>>21399020
That's not his rig in the OP picture, he hasn't actually bought anything yet, he just signed the lease for the house.

>> No.21399061

>trolling outside of /b/ circa 2013
go back tranny

>> No.21399087

>>21398950
tell him to spend a bit of it on accellero IV coolers for those cards

>> No.21399122

>>21398950
It'll end badly since new GPUs are right around the corner... But I can sell him some of my GPUs, since I still have 1 active rig (already sold the other to retards like your brother)

>> No.21399171

>>21398950


>Using a residential property for commercial activities

Landlord is going to rip his asshole open in court.

>> No.21399199

>>21398950
He will unironically earn much more just by buying the crypto and holding it.

>> No.21399225

max 3kwh line in the room so good luck.

>> No.21399280

>>21398950
He will have $30K crypto in 2 years.
If he buys coins now he will have $100K crypto in 2 years.

>> No.21399286

he's going to burn the building down

>> No.21399382

With how institutionalized mining has gotten, he'd probably be better off just renting the house and buying crypto with the $30k. You're basically competing with the People's Republic of China who have warehouses the size of football fields filled with racks of mining rigs.

>> No.21399424

>>21398950
No

>> No.21399558

>>21398950
Is that even profitable anymore? Easier for him to swing a 10k stack on some shitcoins

>> No.21399778

>>21399034
He's renting from some small time landlord so the contract is just one page of basic stuff. There's nothing in the lease that puts a cap on utility usage. Of course, that doesn't mean the landlord will be happy or won't play dirty by shutting off the power. There's nothing in the lease saying he can't run a business out of the apartment, but there might be city ordinances against it.

My biggest concerns are whether it's even safe to run mining rigs in this house. It's an older house, I have no idea if it's wired to stand up to this kind of use.

I'm also wondering how he's going to handle the heat. He plans on setting up all the rigs on the ground floor since there are windows he can open and keep air running through the place. He plans on living in the basement most of the time and just coming upstairs for things like cooking. Even if he's got fans running 24 hours a day, the upstairs is going to be hot as hell.

>> No.21399820

>>21399778
He just says "don't worry about it" when I bring this stuff up.

>> No.21399921

He sounds like a retard. Let him crash and burn. It seems like he has made up his mind already, your words will not make a difference. If you care for him, try some other tactic.

>> No.21399954
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21399954

The landlord will fuck him over by any means necessary once the electricity bills start coming in. What an idiot

>> No.21400017

>>21399820
>>21399778

dude is prolly gonna fry himself lol
But don't worry about it

>> No.21400073

>Landlord is an old fart thinking that his future tenant is some tech geek
>sees 9999k electricity bill
Mama Mia he's trying to scam me! >:O
Get the fuck out of my property!
Or he will be able to stay if he will pay electricity bill himself but then his profits will be basically zero

>> No.21400086

>>21399954
What can the landlord actually do legally though?

>> No.21400202
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21400202

>>21400086

Depending on the country there has to be some "fair use" provision or something. If the landlord can prove that this nigga be rocking 30 CRYPTO MINERS 24/7, any judge will side with him that this is not fair use of a free electricity.

>> No.21400263

Interested in mining myself.
Currently wagecuck however we have a plant room in my office with a ton of space, office is part of large multinational who pay no attention to any bills, whats possible, cost and reward?

>> No.21400423

>>21398950

tell him to just buy 3 bitcoin and not waste his time.

>> No.21400471

>>21400263
please accidentally burn down a multinational commercial property through mining bitcorns on the sly lol

>> No.21400596

>>21400471
Happy to, as long as I get some info.
$30k is way out of my budget, if I got $5ks worth of equipment what sort of ROI could I expect?

>> No.21400604

>>21399820
Hope you're larping or he's fucked.

>> No.21400858

Talk your friend you'll buy the rigs off him for 1/10th what he paid, after the landlord kicks him out and takes him to court

>> No.21401011

>>21398950
I bet one shiny brass razoo that won't end well

>> No.21401020

>>21400596
Not a lot, even with antminers. Mining with $5K worth of equipment hasnt been a profitable thing since early days.

You're probably better off buying link or hosting a node. Good luck anon

>> No.21401055

>>21398950
the landlord will charge him for electricity. if he tries to take it to court the judge will tell him to fuck off. electricity included in rent doesn't give you permission to abuse it with exceptionally high usage. your friend sounds like he is young and ignorant, literally autistic, or both.

>> No.21401156

>>21399014
This

>> No.21401325

inb4 electricity bill will be higher than his rent

200iq move expecting the landlord not to care

>> No.21401396

>>21399014
irrelevant - contract is a contract.

he may get kicked out at the end of the lease, but unless there are usage stipulations the landlord is shit out of luck

>> No.21401418
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21401418

Why bother with POW mining when you can setup a vps for 5$ a month and start mining POS? Having a rig like this in 2020 is just retarded

>> No.21401446

>>21398950
this is a horrible idea, it takes at least a year to even get the money you invested back

>> No.21401513

>>21399778
>hello sheriff....i have a tenant that i'm convinced is using my rental as some sort of drug manufacturing facility.....the electricity use is off the chart and the entire upstairs is so hot its dangerous to be in....I'm reporting this so I won't be falsely implicated...

>hello irs. i have a tenant that i'm convinced is using my rental as some sort of money laundering operation....he is running some sort of crypto business and there are cars coming and going all hours....last time I went I saw a bundle of cash sitting out in open....I'm reporting this so I won't be falsely implicated...

he will be on 5 different watch list after month #2.

>> No.21401519
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21401519

It's free electricity

>> No.21401615
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21401615

>>21399778
Your friend is a real piece of shit taking advantage of someone willing to throw in electricity for a renter. That's some seriously exploitative garbage and I hope he suffocates from smoke inhalation when he burns the place down.

>> No.21401618

>>21401396
He can't use electricity commercially.

>> No.21401728

>>21400086
Like some anon said a house is not the place to have a commercial business.

If I had this kind of renter I would first call the police because I would suspect a grow room. They will act on it and provide proof of commercial activities. Start an eviction process and claim the energy costs.

>> No.21401733

>>21401618
Using a computer for work would count as that fuck brains

>> No.21401942

>>21399820
I'll asspull what I can see going bad here
He's going to get fucked by, zoning laws, unlicenced commercial activity, insurance for commercial activity, physical capability of electrical infrastructure (lol, fire), excessive electricity use which he will be "reasonably" required to pay, taxable gains (lol) on currency mining
And depending on neighbourhood "he doing dat bitcoin mining! he rich" and the comedy that comes from that
Soon as that electricity goes goes crazy, landlord's going to take him to court, I forsee lease termination & eviction proceedings, which would be cheaper than the impending electric bill
If I had $30K right now I'd just buy some fucking currencies that feel appealing and make a shitload more gains than he's going to make

>> No.21401982

>>21401728
I wonder who'd be quicker, police detecting heat or the electric company asking wtf is going on

>> No.21402110

>>21398950
Most legal renters agreements only actually cover fair use of electricity, ie rolling 12 month averages of previous tenants. Outside of that it is considered commercial use, and in court he will have to cover the difference.

>> No.21402125

>>21401982
I’d guess that the electricity company might call the cops when they see such massive usage

>> No.21402180

>>21402125
They probably have proceedures to monitor and report this sort of thing

>> No.21402211

>>21400086
legally? lol you think that matters. he will get his electricity cut off and evicted or maybe even get swatted if they think hes running a grow-op. He will just be sitting on 30k of mining rigs unusable for months while this is in the court process.

>> No.21402228

>>21402180
Oh they definitely do. That’s how many grow ops get busted

>> No.21402256

>>21398950
>mining rigs
ask your friend how the trip from early 2017 was
feeling nauseous?

>> No.21402279

might as well add in a 10 light grow in the garage

>> No.21402281

>>21402228
Why wouldn't they just get solar panels so they don't set off alarms?

>> No.21402337

>>21402281
you need a ridiculous amount of energy to sustain just 1 light 24-7, 365

a standard suburb home will have at peak maybe 30 lights

200k a year on average depending
for water and power

>> No.21402372

>>21402281
Solar is a meme my friend. I won’t spoon feed you the math but a whole roof covered in panels provides about enough to run your fridge

>> No.21402374

>>21399778
Retard should build the rig in the basement, it'll stay cooler in the winter, and he can pull the heat upstairs in the winter.

t. former pot grower.

>> No.21402401

>>21400086
Lmao the landlord is going to """lose"""" a key with the address on it in a neighborhood full of melanin enriched individuals.
They're gonna do all the work for him.

>> No.21402413

>>21402281
to run a standard 3/2 home on solar you need like 28-32 panels, and thats in an area that doesnt use a lot of AC. He'd need a shed with solar panels covering the entire thing to feed the electricity these would require, which honestly isnt a bad idea.

>> No.21402486

>>21402337
Damn, no wonder those homes get busted so easily, that would be super obvious. I guess there's no way solar could provide enough even if the roof was completely covered.

>> No.21402494

>>21401615
>of someone willing to throw in electricity for a renter.
Lol they just charge more for rent. It's not going to end well for OPs brother but it's hardly immoral.

>> No.21402529

>>21402337
Is there a reason they don't just grow the weed outside, so they don't need the lights? Clearly I know nothing about it.

>> No.21402534

>>21402281
lmao just use a bunch of adjustable mirrors to send free UV from the sun to your plants without having them in the window. Like think nigga haha.

>> No.21402551

>>21401396
>he thinks contracts are ironclad and judges can't invalidate them in extenuating circumstances.
you have a lot to learn, lil nigger.

>> No.21402585

>>21402281
Solar barely generates enough energy to do simply tasks unless you have an insane solar set up.

>> No.21402588

>>21398950
buying mining equipment is retarded
just buy 30k of fucking crypto and hold it
so much easier and so much better returns

>> No.21402652

>>21401733
Doing work isn't doing something commercially, fuck brain. Mining crypto currency is.

>> No.21402721

>>21402281
Also forgot
>he thinks police needs electricity usage to find your grow room
>he doesn't know about police drones
>he thinks UV light is perfectly contained inside his house
>he doesn't understand electromagnetic radiation
Oh no no no hahahahahahahahahahaha
Don't do anything illegal you retards you're gonna get butt fucked your first week in lmao

>> No.21402775

>>21398950
>imagine spending money on graphics cards instead of befriending a computer prts dealer and persuading him to let you have the graphics cards for free and then never paying him back while stealing electricity to mine with.

wtf

>> No.21402781

>>21402721
I know about Maxwell's equations.

>> No.21402835

>>21402781
Good, big Bubba is gonna find them interesting while he's giving your daily prostate massage.

>> No.21402866

>mining
What is this, 2017? Eth is switching to PoS over PoW. Bitcoin is king shitcoin and there's too many miners who are overvaluing its potential and also too many industrial miners at scale with legal and commercial access to electricity on the cheap. I have 1 miner I use as a space heater during the winter and I had to make extensive modifications so that it would be liveable with.

>> No.21402925

lmao your friend is going to get FUCKED and owe so much money

>> No.21402936

>>21398950
my contract actually allows me to grow some weed, lmao might actually do it (amsterdam based) thats a few K a year at least I can dump into crypto

>> No.21402964

>>21402936
u lucky piece of shit, i have literally no friends (introvert) so ive never tried weed but want to so bad

is it like being drunk?

>> No.21402968

>>21399382
>warehouses the size of football fields filled with racks of mining rigs
not to mention hooked up to power plants directly/borderline if not outright free electricity

>> No.21402971

>>21401418
that tramp stamp is way too trashy, the others are pretty cool tho

>> No.21402987

>>21402936
don't you need a license to sell?

>> No.21403065

>>21402964
its not like being drunk at all, its also not like nicotine at all. its just.. relaxing, makes you giggle and hungry at the start
once you've smoked more often, it just tends to be very relaxing.

t.weedtard for 5 years

>> No.21403123

>>21402529
controlled environment for maximum dank yield with no rainy days n shit and its out of view.

>> No.21403164

>>21402529
it also thrives in high heat, intense lighting and i imagine most of us here live in temperate regions where growing outdoors is only viable for one season

>> No.21403396

>>21398950
your brother's going to get kneecapped within 6 months

>> No.21403398

>>21403123
>>21403164
You don't grow outdoors because someone WILL find your weed, it's just a matter of time. Best case scenario they're gonna steal your shit, worst case cops are called.
You don't grow indoors either because you light up like a christmas tree on the EM spectrum, but let the retards bend over over it haha

>> No.21403488

>>21403398
Why not just use some farming land out in the middle of nowhere where noone will find your shit?

>> No.21403524

>>21403488
thats how it usually goes for larger ops

>> No.21403974

Why doesnt he just buy a gas generator?

>> No.21404000

>>21403488
Not everyone has access to that, there is no middle of nowhere unless you live on a deserted island people will get near your crops, now you think you're smart so you plant the weed on the insides of your corn field like every other retard did for the last 60 years, now your weed is no longer visible but didn't you forget something? Something dank, something that fills an entire room when you open up a small bag. I'll let you figure it out.

>> No.21404106

>>21398950
hahahahahahahahaha bro your brother is going to get fucked like 30 different ways. Don't let him do this.

>still buys the mining meme in 2020
>Whats a fair use provision
>What are alt coins
>What's a fire hazard
>What is opportunity cost

Unironically just tell him to quit crypto. Buy LINK, RSR, PNK, STA and hold.

>> No.21404804

>>21402987
Like the police is gonna care if I sell a few grams.
>>21402964
>is it like being drunk?

Idk man I got PTSD and it triggers shit for me, I used to smoke a lot but after a very bad LSD trip that retriggered my PTSD some years ago I quit smoking it all together.

MDMA fixed my PTSD symptoms but I started abusing it for that reason, I'm completely clean right now but my brain is fucked.

>>21403065
Also this is the regular effect it has on people, but I bet that 99% of 4channers are schizo so dont do drugs.

>> No.21405093

>>21404804
Only retards do hallucinogens.
Enjoy your schizophrenia and HPPD. Your brain is going to get fucked in ways that the doctors won't even know where to begin to unfuck it and brain medication is primitive at best right now.

>> No.21405119

>>21399014
>landlord
Imagine being a rent cuck still in 2020.

>> No.21405143

>>21400086
The power could "break"

>> No.21405537

>>21405093
>Enjoy your schizophrenia and HPPD

I can one up this. Let me give you a brief green text.

>be 4
> sisters abusive 25 year old /fit/-tier buff BF tries to break into your house,
> you break his hand with the front door
> tries to kill you for a few weeks straight throwing bricks through your window


ok yeah got that? ok drug abuse real quick
>10 year old first smoke
>12 year old start smoking weed daily dont quit till 21
> 14 Start using LSD / shrooms and designer drugs almost every weekend
> 16 can finally legally drink but was already doing it every now and then, now literally binge drink every weekend.
>18 get kicked out use weak opiates
> 18 get extreme bad trip on LSD retriggering PTSD
> 21/22 I forgot 5 year LTR GF breaks up, be so hardbroken start using MDMA almost daily because of comedowns, start doing daily in summer.
>22 try commit suicide in park, decide to go clean instead.
>25 now
Been on ADHD medication for the past few months went from /fit/ fag all the way to skinny lanklet, but I'm feeling better than ever, even tho sometimes I do get the HPPD it doesn't matter to me, these things all fuel my creativity as a musician.


>schizo
yes I used to browse /pol/ in my teens made me full blown schizo and I fell for the memes, I've learned anon. I know that theyre all bullshit.
Christcurch shooting was the reason I went full faggy redditor for a while, but now I'm just trying to make some cash on /biz/ and enjoy /fit/ memes again. Fuck /pol/ tho holy fucking shit what a cancer brainwashing board that is.

>> No.21405706

>>21405537
If this isn't a larp that's a metal as fuck childhood, I'll give you that.

>> No.21405941

>>21405706
me and my friends all wanted to be rockstars anon.

meanwhile I make pop music, but I'm getting okay streams on spotify worked together with some big artists . Don't wanna give away too much shit im doxing myself real hard

No larping, sometimes I wish it was.

>> No.21406052

>>21401396
There are 100% stipulations to this activity and he will be kicked out in a week.

>> No.21406276

>>21402652
>solving arbitrary puzzles for tokens which we assign value to is a commercial activity anon please lick the master's boots
FUCK YOU AND FUCK ANYONE ELSE WITH THIS ATTITUDE. MONERO 1K EOY YOU'RE ALL FUCKING BOOTLICKERS

>> No.21406312

>>21401982
>>21402125
>>21402180
>>21402228
so what you're saying is, a good grow op starts up as a mining business before switching to lights?

>> No.21406355

>>21402588
>but anon, mining is equivalent to DCA'ing into the asset with my electric bill, and if any black-swan events happen I can still sell the hardware to recoup losses

>> No.21406388

>>21403524
>thats how it usually goes for larger ops
>>21403488
>Why not just use some farming land out in the middle of nowhere where noone will find your shit?
>>21403398

ok pro tip, dig a big ass hole in the ground in a remote farmland, thus making a big ass cellar.

the only way they can find out is if they see you dig the cellar/ they see a lot of traffic to and from the area, or you stole electricity.

These all have easy fixes.

best protip however = don't do it. Plenty of other ways to get rich that won't fuck up your life, play the game , don't try to fight it, be that filthy crypto parasite.

>> No.21406404

>>21402721
since when is mining with solar panels illegal?

>> No.21406423

>>21399778
Court always sides with the tenant. Landlord can do absolutely nothing to him besides call the police bc he suspects he's running a grow house. Ultimately, landlord is going to have to eat the power costs though and he'll be booted out the second the contract is up. It is illegal for the landlord to shut off power to his dwelling as well.

>> No.21406540

>>21399171
Essentially.

Everyone saying "unless usage is outlined in the lease" forgot about this part.

>> No.21406550

>>21406312
>so what you're saying is, a good grow op starts up as a mining business before switching to lights?

If youre a real smart ass you pay taxes that's always number 1 priority.

a common thing to do nowadays is to make a recycling business , recycle shit like laptops /cars/ phones, but actually youre giving drug makers like MDMA / xtc their materials. very common practice nowadays in the netherlands.

>> No.21406588

>>21399778

See >>21399171

>> No.21406599

>>21399171
>>Using a residential property for commercial activities
>Landlord is going to rip his asshole open in court.
not sure about murican laws, but in the netherlands you just have to register as a company and you can make any home adress your home. I think they will rework your electricity bill to fit that tho.

>> No.21406612

reminds me of this
https://np.reddit.com/r/sydney/comments/9xh5i6/huge_electricity_bill/e9ssucq/

>> No.21406635

>>21405093
>not becoming one with the universe, instantly putting all of your hopes/desires/goals into prioritization and perspective
i feel bad for you. schizophrenia is a risk for those with family history and HPPD only develops in those who abuse.
it's like saying, "Only retards drink alcohol. Enjoy your jaundice and liver failure" to someone who enjoys a glass of wine with dinner.
you don't regularly do psychedelics, anon.
>once you get the message, you hang up the phone.

>> No.21406671

I've done large scale mining AMA

>> No.21406825

>>21406635
>you don't regularly do psychedelics, anon

>implying people can control themselves once they had a good trip.

ok senpai.

Almost everyone has one time or another abused alcohol, if they drink. Even the auti auti auti people I know that only drink a glass of wine with a good steak, have a history of abuse with a bottle of wine a day.

It's like saying "o im only a social smoker please give me a ciggy"

we all know where that's gonna lead to now dont we?

t. drug abuser /hands-on expert

>> No.21406864

>>21406671
How I can I convince my bro not to do this? How much money did you lose?

I've tried bringing up that he's going to piss off his landlord, that the house is going to be uninhabitable, that there's a serious fire hazard, and that he's not likely to make any money. Every single time he just brushes off my concerns.

>> No.21407010

>>21406825
>Almost everyone has one time or another abused alcohol, if they drink.
yes, but how old were they when this happened? and how much everyday life and media normalizes binge drinking? what the fuck is "happy hour" and why is it called that?
comparing people who have had positive experiences with psychedelics to "social" smokers (read: addicts in denial) is a terrible comparison and only highlights your misunderstanding of psychedelics once again.
>Out of damp and gloomy days, out of solitude, out of loveless words directed at us, conclusions grow up in us like fungus: one morning they are there, we know not how, and they gaze upon us, morose and gray. Woe to the thinker who is not the gardener but only the soil of the plants that grow in him!
become the gardener. good luck.

>> No.21407112
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21407112

>>21399171
Kleros court?

>> No.21407275

>>21405537
Glad you’re doing okay. /pol/ is pretty cancer. I’m not racist, I’ve never been racist, but once I started on that board I felt it changing who I was. I began to get hella paranoid because of ((them)). I also started hating women (honestly I kinda do still, kek). R9k also kinda fucked me, it made me hate myself and become so overly aware of my flaws. /fit/ is okay but there’s so many demoralization threads. I like it on biz, it’s a lot less autistic

>> No.21407281
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21407281

>>21401615
>taking advantage of a landlord

>> No.21407532
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21407532

>>21407010
Honestly I think it's awesome you can use psychedelics so casually. I can never return to any drug use casually, the only thing I can do is enjoy 1 or 2 beers with friends, but the only reason I have to stop is because I get insane bloat which makes me unable to drink anymore than that.

I have to say I am relatively certain that I am the gardener of my own thoughts, every discussion I go into I am very open about the opinions of others and try to see it from their perspective too I however still have a long way to go and I can assure you for me, drugs are not the answer and I will always "FUD" drug use to any individual especially the easy manipulated or the mentally unstable, the ones who most often start using and then abusing in the first place.

>>21407275
Im a race mix.
/pol/ literally made me hate myself and made me sperge the fuck out to my half jewish GF.
/r9k/ is so self defeating its insane.

/fit/ is cool we all gonna make /biz/ needs more zyzz memes

>> No.21407579
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21407579

>>21407112
MY FUCKING SIDES, LETS GO PUMPING MORE INTO PNK AS WE FUCKING SPEAK

>> No.21407603

>>21401396
>but unless there are usage stipulations

Unless the landlord is inexperienced and new to this, they will have stipulations. If this were true everyone would be renting houses just for crypto rigs

>> No.21407651

>>21401615
holy shit this is what leechlords ACTUALLY BELIEVE

>> No.21407655

>>21407112
Based

>> No.21407696

>>21401396
retard spotted

>> No.21407761
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21407761

>>21407275
>>21405093

Good talks anon Im going to make some music and try to make something of my life outside of 4chan.

Thanks a lot I appreciate it, was about to land in a deppressive hole again.

good luck with trying to figure out what are good buys and what aren't my personal bets for low caps are PNK and DUSK.

Do with that info what you want. I'm also in STA but I believe its a scam, it's too coordinated.

>> No.21407840
File: 49 KB, 476x358, kleros.jpg [View same] [iqdb] [saucenao] [google]
21407840

>>21407112
BASED
A
S
E
D

>> No.21407930

>>21398950
Very dumb idea. I mine and it set me back ~$3k for the rig. Still haven't paid it off completely a year later. Unless he constantly buys cards (like every month) it's not worth the time and money investment.

If he is really insistent on being retarded, tell him to not spend it all at once. Buy a rig, get used to it, and then spend money as time goes on on new cards that make the best ROI.

>> No.21407939

imagine going through all this shit when you could just buy link

>> No.21408194

>>21402529
because then they can see it

>> No.21408269

>>21399171
Nothing wrong with a friendly LAN party with frens who happen to have some high power pc going all night and day.

>> No.21408315

>>21402228
Extremely rich thinking any country in the world has a grid smart enough for this.

Unless you're pumping a warehouse full, your additional 5kW power draw isn't going to be noticed

>> No.21408332

>>21400263
Ever see Office Space?

>> No.21408358
File: 39 KB, 339x355, 1517343413163.jpg [View same] [iqdb] [saucenao] [google]
21408358

I miss when they had those programs that mined in the background on your Pentium 4 computer.

>> No.21408454

The landlords can get him for running a business out of the property no matter what the lease says about electricity