So using a bitcoin miner, 10BTC and a VPS lending bot on a exchange API its possible to generate $200 a month pure profit which is enough to live on comfortably in cambodia.
So using a bitcoin miner, 10BTC and a VPS lending bot on a exchange API its...
Is this the ultimate passive income?
wont do shit for the price of living here but if 200$ is that significant where you live then kudos nigger. you don gud
But if i had 50 bitcoins and 10 bitcoin miners i could get to $1200 a month
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
I live in a rich country. 50btc is nothing. I could move to cambodia and live in a fancy place.
i thought you did live in Cambodia
i do not understand what is the purpose of this thread now.
it is, if you are lending them out automatically and getting compound interest
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.
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?
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
$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
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
With the current hashrate
and therein lies the fault in your business plan
getting them back
lending out to traders. it's all handled automatically by the exchange there's no risk of default.
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.
until the exchange runs off with it
current rate of 0.0628% per day
((0.0628 / 100) + 1)^30.4 =
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.
3 btc would make $50 a month
10 btc would make $160 a month
50 btc would make $800/ 1.5btc a month