So using a bitcoin miner, 10BTC and a VPS lending bot on a exchange API its...

Emberburn
Emberburn

So using a bitcoin miner, 10BTC and a VPS lending bot on a exchange API its possible to generate $200 a month pure profit which is enough to live on comfortably in cambodia.

TalkBomber
TalkBomber

Is this the ultimate passive income?

StonedTime
StonedTime

wont do shit for the price of living here but if 200$ is that significant where you live then kudos nigger. you don gud

Need_TLC
Need_TLC

But if i had 50 bitcoins and 10 bitcoin miners i could get to $1200 a month

MPmaster
MPmaster

ifs can't buy food
Ifs cost money
Ifs can be dangerous

i follow two rules when investing
1- don't put all the eggs in one basket
2- i'll buy it only if i can pay for it

i am not a millionaire but i also never suffered an unrecoverable loss

Sharpcharm
Sharpcharm

I live in a rich country. 50btc is nothing. I could move to cambodia and live in a fancy place.

Supergrass
Supergrass

i thought you did live in Cambodia
i do not understand what is the purpose of this thread now.

Need_TLC
Need_TLC

bitcoin mining
profitable
kek

WebTool
WebTool

it is, if you are lending them out automatically and getting compound interest

BlogWobbles
BlogWobbles

passive income

ZeroReborn
ZeroReborn

With the current hashrate difficulty, if you had a 14TH/s antminer running for a year could make about $3000, granted youd spend about $2000 for electrcity. But hey, thats a free holiday at least.

Stark_Naked
Stark_Naked

Ok, so what would be the investment necessary for the 50 btc model? Please be patient, I am a normie when it comes to crypto. And why do you need a miner for? Cant you just do it with the landing bot alone? How much BTC do you need if you just land then to make a grand a month?

takes2long
takes2long

50 btc lending will give you 1btc per month. that is why you need to mine as well to build up your capital that much faster

otherwise its just a slightly risky pointless activity

Gigastrength
Gigastrength

$3000 is 5 btc

which if you put in to lending would top up monthly output to 18.5 / 12 = 1.54 btc monthly

around $920 dollars

BlogWobbles
BlogWobbles

please explain this to me for i am a retard

nah but seriously i'm new enough to bitcoin, how do you make so much on lending?

like, whats stopping someone from just not paying you back

DeathDog
DeathDog

With the current hashrate
and therein lies the fault in your business plan

BinaryMan
BinaryMan

lending bitcoins
getting them back
nah

Ignoramus
Ignoramus

lending out to traders. it's all handled automatically by the exchange there's no risk of default.

Soft_member
Soft_member

Ok thats seem impossible. There is no way you could make 920 USD from 3 grand in one month, otherwise everyone would be doing it.

cum2soon
cum2soon

until the exchange runs off with it

GoogleCat
GoogleCat

current rate of 0.0628% per day

((0.0628 / 100) + 1)^30.4 =
1.01926849462

1.9% return. you put 1 BTC in at beginning of month, you get 1.019 by end of month.

for a year - ((0.0628 / 100) + 1)^365 =
1.257, or 26% return.

this is for BTC on poloniux. not sure where OP is getting 54% monthly returns.

the very first few days of BTC lending on poloniux were like 1% per day, which was something like 3700% yearly return compounded. it was nuts.

since i've started typing this post, lots of people have put in loan offers at lower rates. 0.0543% per day is top offer right now.

CouchChiller
CouchChiller

my nigga

Dreamworx
Dreamworx

3 btc would make $50 a month
10 btc would make $160 a month
50 btc would make $800/ 1.5btc a month