What did you do today crypto related? 🚀

Which site is this?

Today I purchased $2,000.00 worth of Exhaust Fans, One wall of my shed will be 8 fans, 2 across, 4 high. I purposefully bought 2 fans from four different vendors to see which ones last how long. I went ahead and purchased 3 years of assurance on each (usually do not bother with this on most purchases) As to the fans:

  • 2 X Ventisol 20 inch 3500 CFM ($139.99) (8.86" D X 24.43" W X 24.43" H)
  • 2 X FarmLULU 24" 4700 CFM ($285.99) (13" D X 24" W X 24" H)
  • 2 X GRELWT 24" 4390 CFM ($269.99) (13" D X 24" W X 24" H)
  • 2 X Ken Brown 24" 4400 CFM ($209.99) (8" D X 24" W X 24" H)
All of the above are 24 inches X 24 inches except the first one, which is 24.43 X 24.43 inches...so mounting 6 will basically be the same, while 2 will be a little different.
Ideally I would be putting two of the same in different locations on the wall to spread them out and can do that with the 6 of them, but those two odd ball sized ones will both be on the bottom or both on the top.
My thinking is simple, if a Digital Shovel on 415 3-Phase can handle between 80 - 88 ASIC S19 Antiminers, I should not have a problem with a max of 22 or 23 ASIC Miners, with two of the Digital Shovel input awnings.
Granted each one of the 4 fans on the Digital Shovel is 15,000 CFM each for a total of 60,000 CFM.
With the 8 Exhaust fans listed, I will have 33,980 CFM.
It is my sincere hope that I will be able to leave one or two of the fans off and cycle the fans through over time....was looking at different kinds of relays tonight, will have to figure how to monitor temperatures in both my cold and hot sides and determine how long to run a fan before I turn it off, should the temperature drop (probably wishful thinking on my part) that way I will not be short cycling any of the fans.
Perhaps I will also put a blower motor in the bottom or top of the hot side to blow some warm air back into the cold side in the winter.

Well, guess i’m busy trying to get the word out for our newly launched Ebay-like Crypto mining marketplace. :smile:

I think what you are trying to achieve is a cool idea, I’d be interested in listing a handful of second hand things, however I would not be interested in KYC. Even with KYC information, what legal authority would you hold over sellers except for banning or holding funds? Like if you’re in the UK and some reseller in China was being dirty, what could you do from a legal standpoint? No KYC is also a huge reason why people use resellers. From what I understand there’s no need for KYC for buyers.

I’m willing to hear you out, but if you could also clarify on how we can trust your business as an escrow that would be good. Cheers

Also the commission is ridiculously high. That’s more than most businesses profit margins

Hi @ShredZ ,

Godsgift here from Miningwatchdog.com. First of all, I would like to thank you so much for your input and for sharing your concerns with us and everyone else. We absolutely love resolving concerns about our services. I would also like to introduce myself and the company.

I am Godsgift, Co-founder and Chief Operations Manager at MiningTechnGroup OU. Miningwatchdog,com and all its assets are subsidiary entities of MiningTechnGroup OU.

Miningwatchdog,com has been providing crypto mining knowledge to crypto miners in the industry since July 2019, so for about five years now. In the early years, Miningwatchdog generally reviewed and talked about reseller platforms. What we have found out over the years is that there is no shortage of scammers and rip-offs in the reseller space. Miningwatchdog generally profited from affiliate partnerships with resellers. However, we stopped entirely because it was hurting our users more than it profited them, so we had to take up our users’/customers’ interests above ours.

Many complained that the websites we recommended were rip-offs and that they had paid for a miner but had not received any product yet. Even reputable resellers vanished overnight. You might be familiar with Linzhi Asic miner; they were manufacturers from China. We did good business with them up until they vanished, and there were a series of complaints and grievances from our users who had placed orders with them.

So we quickly learned that we had to take control because we cared for our users. We had to provide them a safe space to buy or even sell cryptocurrency miners. Our users demanded it, so I would like to let you know that while we appreciate you calling the Miningwatchdog Marketplace a “cool idea,” it is in fact no longer an idea. It used to be one, years ago.

Now it is a carefully calculated systematic solution to realistic problems that arose years back and are still plaguing the cryptocurrency mining industry. It has taken us years to perfect the system to this level because we have had security in mind the whole time.

Speaking of security, you asked a crucial and intriguing question above: what legal authority do we hold over sellers except for banning or holding funds?

Thank you so much for bringing that concern to light. So to answer, our first approach to the resolution of a problem is not always legality or authority. I might be spilling some intellectual and proprietary secrets here, but I guess an interested and potential partner is more important to me than avoiding talks with the legal team, haha!

To make sure everyone is in line and doesn’t do anything that might potentially harm the other entity, be it a buyer or a seller, we take the approach of a smart contract. We are currently implementing it manually but would fully automate it through the use of our smart token.

Once an order is placed on your Miningwatchdog Marketplace store as a seller, you and the buyer automatically enter into a buy/sell contract. This simply means that the next ensuing events within that buy/sell contract can either go one of two ways:

  1. Everyone’s happy and the trade is completed successfully.
  2. One of the parties involved isn’t happy with a thing or two about the contract, and therefore, we need to retrace our steps back to the beginning of the contract. The buyer needs to ship the product back to the seller in the condition it was when the seller shipped it to the buyer, and if it is all good, the seller would then cancel the trade, and the buyer gets their money back exactly as it was also.

Now it is obviously a lot more complex than that, but this is all I am allowed to disclose, I am afraid, and it should also afford you the general idea.

Now we can talk about legality and authority. I would also try to resolve your concern about KYC and trusting our business as an escrow.

We are a regulated Estonian entity, and it is very crucial that we have a KYC and AML policy in place to regulate, control, and fight against money laundering acts and terrorist funding.

This means that as a seller, it is important that we know our partners and their respective businesses. It is an important step or process towards protecting the marketplace and its users. Otherwise, our dispute resolution system would just be overwhelmed with disputes, so it is better to always try to prevent an issue from the source rather than having to deal with it later on.

It is important to note that we recognize there are several types of sellers, and our approach to them differs.

For individual/private sellers, our KYC on them only seeks to verify their ownership of the product they would be selling on the Miningwatchdog Marketplace because we wouldn’t want a situation where a seller sells a stolen product or a product they are not authorized to resell on our marketplace. Therefore, we just have to make sure the seller is authorized to sell, is all.

For business or corporate sellers, we would have to verify the contact person of the entity or representative of the entity. Also, verify that the business exists and owns their product or is at least authorized to sell it.

Now you see why we have to do a lightweight verification on our individual sellers?

Regarding the commission, no, that’s not a lot at all. How much do you think businesses spend on marketing?

Miningwatchdog Marketplace does the marketing for you. For our Gold member sellers, we have a sales team ready to market their products for them. As a Gold member seller, all you need to do is sit back and relax and watch the sales roll in.

Furthermore, our platform offers various levels of membership to accommodate different needs and budgets. The basic membership allows you to list and sell your products with a minimal commission fee, ensuring that even smaller sellers can benefit from our marketplace. For those who require more comprehensive support and marketing, our premium membership levels provide enhanced features and dedicated assistance.

In terms of trust, we have also implemented a transparent review and rating system. This allows buyers to leave feedback on their transactions, which helps build trust and accountability within the community.

I do hope I have resolved all your concerns but feel free to share more concerns with us at any time. We are looking forward to welcoming you to Miningwatchdog Marketplace.

Cheers,

Godsgift

Thanks for the in-depth response. I do see your point to an extent about commission and doing the advertising, but if I understand it correctly, 15% per sale I would argue is still high especially when I bet most vendors sales are reoccurring customers. They’ve done the advertising to that customers once, provided a good service so they keep coming back. Infact I’ve done 2 referrals to the vendor I use. It will be interesting to see if any vendors will use your service. I guess they would likely add an additional % fee for your service and essentially you (the buyer) would pay for security. Myself if I list second hand stuff to sell, I personally would accept that 8% fee as acceptable. Especially when the likes of eBay have a reputation of scamming sellers.

Could you provide examples of how you would be able to use KYC to stop the selling of stolen or unauthorised goods on your market place? Infact let’s be honest, if I had a broken S21 miner, I could probably buy a new factory sealed miner, get a label maker and print new labels with the serial number from the new miner and stick on the old hashboards and send it back and try to scam the seller in that sense. Unfortunately people suck and probably would try.

Also by KYC I’m assuming you mean passport/drivers license? That’s the #1 thing that myself and probably everyone on the internet don’t want to send. Are you legally obligated to do KYC?
If you want to ensure goods aren’t stolen, would it be possible to instead have the seller provide the serial number of the miner and have a week holding period before the goods are publicly listed on the market place to allow time for stolen goods to be reported?

Cheers

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Hi @ShredZ,

Thank you for your thoughtful response and for sharing more of your concerns. I appreciate the opportunity to address them in detail.

Commission Rates

Miningwatchdog Marketplace’s pricing plan for sellers involved a lot of careful consideration. Since Miningwatchdog Marketplace is niche-specific to cryptocurrency mining and not like Amazon or eBay, which charge higher commissions with minimal security for sellers, our model ensures fair value for the services provided.

We’ve considered the fact that there would be different types of sellers coming into the Miningwatchdog Marketplace: suppliers, distributors, manufacturers, single/private sellers, etc. Obviously, private/single sellers would not be able to afford a commission plan set out for enterprise sellers like a manufacturer who is just looking to get a new product out there without having to go through the chain of supply or even spend a fortune in marketing, or a distributor/wholesaler who would like to focus more resources towards shipment and packaging rather than having to deal with building an e-commerce store, branding, marketing the brand, doing social media advertising, and also trying to build their own reputation.

There are different scenarios to consider here for different sellers, which is why we offer different plans. The least being the most affordable for anyone, like you said yourself. So as a seller, you basically pick a plan that most serves you and stand by it. The only thing is that Gold and Silver Members would obviously have more exposure and outreach than a regular seller on the platform.

You also mentioned recurring customers. Yes, we considered such scenarios too. When a seller feels that they no longer need their sales boosted, that they have enough already, the seller has options of downgrading their plan. When they do, they get a lowered commission, but the services would also cease to be offered to them. Then they get to fully enjoy the impact of their loyal customer base constantly patronizing their store.

And yes, we have a number of sellers who have signed up already, including several manufacturers. We just launched last week Thursday. But enough about commissions, let’s talk about security. Security is not for sale, it is for sure! Everyone gets to have security and peace of mind when selling or buying anything crypto mining related at Miningwatchdog Marketplace.

KYC and Security

Regarding KYC, I completely understand the reluctance to share sensitive personal information like passports or driver’s licenses. However, KYC is a crucial element in preventing fraud and ensuring the legitimacy of transactions. Let me explain in detail: KYC does not help us stop the selling of stolen goods or even unauthorized goods. It just helps us prevent and discourage it altogether.

It is easier to let everyone in, and you will obviously have more people come in, but that would bring about lots of dishonest individuals whose sole purpose is to trick the system and rip off honest and unsuspecting individuals. Remember, we are Miningwatchdog, we keep watch, always! Even though our dispute system is designed to stop all fraud, KYC helps us prevent them from ever occurring or at least discourage them.

Fraud Prevention

Regarding the scenario where you mentioned a buyer who would try to scam a seller by swapping serial number labels and everything, let me explain to you how the dispute resolution system would help prevent that.

For any transaction to happen successfully, all members who are a party to that transaction have to agree to it:

  • Seller - Yes
  • Buyer - Yes
  • Miningwatchdog Marketplace - Yes

So yes, when a return transaction is carried out, the buyer would have agreed to bear the cost of return shipping, the seller would have agreed to accept the returned item, and Miningwatchdog Marketplace would have agreed to process this transaction since all parties are in agreement.

Before a buyer can return an item, the seller has to tell them to do so. When they do, the seller can receive the item, inspect it within the time limit, and either accept it, returning the buyer’s money to their wallet, or escalate the concern to Miningwatchdog Marketplace. The Miningwatchdog dispute resolution team would then carefully study the dispute and the facts provided by both parties to understand the situation. Images and videos would be provided, and those would be used to resolve the concern amicably. In summary, if a dispute arises, our system allows for thorough investigations where both parties can present their case. This includes photographic evidence and inspection reports, ensuring that fraudulent attempts are identified and dealt with appropriately.

Legal Obligations and Alternatives

Moving on to your next concern: Yes, as a regulated entity in Estonia, we are legally obligated to perform KYC to comply with AML (Anti-Money Laundering) regulations. However, we are also exploring ways to make this process as non-intrusive as possible while still complying with legal requirements.

Your idea of using serial numbers and a holding period is a practical and less invasive method to ensure the legitimacy of the products. However, even you are not considering different scenarios for sellers. Let me give you an example: Picture a single seller who needs cash fast and would like to sell their miner as soon as possible to raise the said cash. Do you think they will be very happy about us imposing a one-week waiting period on them just to see if anyone would report a product stolen or not? Probably not.

So the faster and more precise way of doing it is simply to verify the name of the seller and then ask to see an invoice or a receipt of purchase. If the verified name of the seller is present on the receipt or invoice, the seller is good to go. However, the verification does not end there, as we understand that people can forge documents. We would have to do an extensive verification of the ownership of the product, but we will allow the seller to list their product first.

I hope this makes sense. Let me know if you have any more questions or if I missed any of your raised points, and I will revert back and address them.

Thank you once again for your genuine interest.

Cheers,
Godsgift

https://ariregister.rik.ee/eng/company/16235478/pdf

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Today I searched for ways to reduce noise, found both a solution on the Exhaust side and a solution on the Intake side, both links are posted in the thread I started looking for a solution to my heat problem, “Best way to get air flow up first to 132,000 BTUs and eventually 264,000 BTU equivalent flow rate? - #18 by craigcoin”.

Also started gathering instrumentation…long way to go here if I have to work up my own solution.

Today I got a 2 week time frame estimate when my intake awnings manufacuring process will be completed.

Also added information on the Exhaust Tunnel and Intake noise reduction techniques to the contractor whom is providing the estimate to do the work for me.

Perhaps I will have all my ASIC miners running in 3 weeks…I can only hope.

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Exciting Update: One Week Since Launch and the Engagement is Off the Charts!

Today’s exactly one week since the Miningwatchdog Marketplace went live, and the response has been phenomenal. According to Google Analytics, we’ve experienced a staggering 487% increase in traffic since the launch. What’s even more incredible is that we haven’t started our internal or external marketing campaigns yet. We’re holding off until all our first batch sellers have registered, ensuring they can fully benefit from our extensive marketing efforts.

Sellers from China Japan etc are already taking advantage, @ShredZ you mentioned you were curious to see if anyone would purchase our Gold plan, It has already been purchased twice within the space of a Week.
Additionally @ShredZ, After a few meetings with the legal team, we were able to relax our KYC policy for Individual/Private Sellers like yourself. Now you just need to provide proof of ownership of your products that will be listed on Miningwatchdog Marketplace, An invoice, receipt of purchase or a purchase order would do.
Also, our marketing team worked on the commission rates a bit for private/individual sellers like yourself, Go ahead and check it out, We are looking forward to welcoming you to miningwatchdog Marketplace. We only hope you would be kind enough to invite private sellers like yourself after you’ve had a taste of Miningwatchdog Marketplace’s Awesomeness! :grin:

At Miningwatchdog, we provide live profitability insights for any ASIC miner you list, giving you a competitive edge in the marketplace.

Don’t miss out—join us now and be part of this exciting journey!

I have signed up to check it out. I am interested in selling second hand gear I have. From what I understand your commission is cheaper than eBay’s and I’ve heard lots of sellers getting scammed with eBay. With all that said, I’m probably not going to sell anything worth more than $300 so if anything does go wrong I won’t be too upset.

@ShredZ that’s fine, Unlike other platforms like eBay, which often prioritize buyers at the expense of sellers, the Miningwatchdog Marketplace is committed to ensuring that both buyers and sellers are satisfied and treated fairly.

If you have already signed up, our compliance team is diligently processing your registration. Please keep an eye on your email for a ticket from our team with further instructions.

@ShredZ Good day,

This is a gentle reminder to complete your account registration with us to get you all set up :grin:

Set up auto temperature targeting on my water cooled S19 in the Lux firmware, so it will underclock/overclock to reach the set board temp. I have a 12kw radiator so it has overclocked my 104T J pro to 128T (Thats the max i set it to because I only have stock PSU)

This would be good for a lot of people with stock fans struggling to beat the heat in summer and also people trying to keep a consistent temperature with liquid cooling, whether its a hot water tank, pool or spa you could set the miner temp to reach X target to aim for what ever water temps you want

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Figured my BE Bitcoin price (at $0.12 kwh) to be $103,247.00 per Bitcoin. Ouch.

$328.45 / $65,118.39 = $520.77 / X

$328.45 ~ approx 30 days mining, 1 S21
$520.77 = Cost 1 month of Electricity at $0.12 kwh.
$65,118.39 ~ Price of Bitcoin when I received $328.45 for a little over 0.0050439 Bitcoin

Today I paid the Customs Clearing Agent to get two Digital Shovel Awnings across the border and into the United States.

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So by the above post you can see that if I paid for my $520.77 Electric Bill with my mined 0.0050439 Bitcoin, I would have lost money…but I paid with $USD that is being devalued at 10% per year…good riddance…

We just have to pay the utility bill until $BTC rises, which I believe I am safe in saying that most of believe it will…

So I ran the numbers, it will cost me $103,247.49 at my heafty $0.12 kwh rate for 1 Bitcoin.

I was curious what my 0.005043900 mined $BTC will be worth as Bitcoin goes up in price (Enjoy, I know I will):

Going to attempt to copy/paste a spreadsheet here, wish me luck…:

Cost of Bitcoin Mined - > $520.77
Amount of Mined Bitcoin - > 0.005043900
To get to 1 Bitcoin 198.259283491
Mined Value @ $65,118.39 ($D$5) - > $328.45
Bitcoin Price ($D$6) - > $65,118.39
Value of above Potential
Mined Bitcoin Profit /
Price of Cost of At this Price Loss
Bitcoin Bitcoin Mined ‘=($D$5*$A13)/$D$6 '=C13-B13
$BTC Price Cost Mined Value at $BTC Profit / Loss
$60,000.00 $520.77 $302.6334 -$218.1366
$75,000.00 $520.77 $378.2918 -$142.4782
$100,000.00 $520.77 $504.3890 -$16.3810
$110,000.00 $520.77 $554.8279 $34.0579
$120,000.00 $520.77 $605.2668 $84.4968
$130,000.00 $520.77 $655.7057 $134.9357
$140,000.00 $520.77 $706.1446 $185.3746
$150,000.00 $520.77 $756.5835 $235.8135
$160,000.00 $520.77 $807.0224 $286.2524
$170,000.00 $520.77 $857.4613 $336.6913
$180,000.00 $520.77 $907.9002 $387.1302
$190,000.00 $520.77 $958.3391 $437.5691
$200,000.00 $520.77 $1,008.7780 $488.0080
$210,000.00 $520.77 $1,059.2169 $538.4469
$220,000.00 $520.77 $1,109.6558 $588.8858
$230,000.00 $520.77 $1,160.0947 $639.3247
$240,000.00 $520.77 $1,210.5336 $689.7636
$250,000.00 $520.77 $1,260.9725 $740.2025
$260,000.00 $520.77 $1,311.4114 $790.6414
$270,000.00 $520.77 $1,361.8503 $841.0803
$280,000.00 $520.77 $1,412.2892 $891.5192
$290,000.00 $520.77 $1,462.7281 $941.9581
$300,000.00 $520.77 $1,513.1670 $992.3970
$310,000.00 $520.77 $1,563.6059 $1,042.8359
$320,000.00 $520.77 $1,614.0448 $1,093.2748
$330,000.00 $520.77 $1,664.4837 $1,143.7137
$340,000.00 $520.77 $1,714.9226 $1,194.1526
$350,000.00 $520.77 $1,765.3615 $1,244.5915
$360,000.00 $520.77 $1,815.8004 $1,295.0304
$370,000.00 $520.77 $1,866.2393 $1,345.4693
$380,000.00 $520.77 $1,916.6782 $1,395.9082
$390,000.00 $520.77 $1,967.1171 $1,446.3471
$400,000.00 $520.77 $2,017.5560 $1,496.7860
$410,000.00 $520.77 $2,067.9949 $1,547.2249
$420,000.00 $520.77 $2,118.4338 $1,597.6638
$430,000.00 $520.77 $2,168.8727 $1,648.1027
$440,000.00 $520.77 $2,219.3116 $1,698.5416
$450,000.00 $520.77 $2,269.7505 $1,748.9805
$460,000.00 $520.77 $2,320.1894 $1,799.4194
$470,000.00 $520.77 $2,370.6283 $1,849.8583
$480,000.00 $520.77 $2,421.0672 $1,900.2972
$490,000.00 $520.77 $2,471.5061 $1,950.7361
$500,000.00 $520.77 $2,521.9450 $2,001.1750
$510,000.00 $520.77 $2,572.3839 $2,051.6139
$520,000.00 $520.77 $2,622.8228 $2,102.0528
$530,000.00 $520.77 $2,673.2617 $2,152.4917
$540,000.00 $520.77 $2,723.7006 $2,202.9306
$550,000.00 $520.77 $2,774.1395 $2,253.3695
$600,000.00 $520.77 $3,026.3340 $2,505.5640
$700,000.00 $520.77 $3,530.7230 $3,009.9530
$800,000.00 $520.77 $4,035.1120 $3,514.3420
$900,000.00 $520.77 $4,539.5011 $4,018.7311
$1,000,000.00 $520.77 $5,043.8901 $4,523.1201
$2,000,000.00 $520.77 $10,087.7801 $9,567.0101
$3,000,000.00 $520.77 $15,131.6702 $14,610.9002
$4,000,000.00 $520.77 $20,175.5602 $19,654.7902
$5,000,000.00 $520.77 $25,219.4503 $24,698.6803
$6,000,000.00 $520.77 $30,263.3404 $29,742.5704
$7,000,000.00 $520.77 $35,307.2304 $34,786.4604
$8,000,000.00 $520.77 $40,351.1205 $39,830.3505
$9,000,000.00 $520.77 $45,395.0105 $44,874.2405
$10,000,000.00 $520.77 $50,438.9006 $49,918.1306
$11,000,000.00 $520.77 $55,482.7907 $54,962.0207
$12,000,000.00 $520.77 $60,526.6807 $60,005.9107
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Read the blog by Yesmining, it nclude some of the most profitable and best ASIC Crypto miners :12 Best Crypto Mining Hardware Machines in 2024

Started insulating my shipping container with shipping container foam slots and spray foam, going to wall it off with concrete sheets and put one of my T14 shutter fans in

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