Https://Www.Reddit.Com/R/CelsiusNetwork/Comments/Vwszgn/A_solution_i_can_get_behind/ this is an interesting idea, basically Celsius locking down

Question

Https://Www.Reddit.Com/R/CelsiusNetwork/Comments/Vwszgn/A_solution_i_can_get_behind/ this is an interesting idea, basically Celsius locking down

for a couple years and using mining profit to make up their deficit. They say the mining makes $8 a week, which is plausible if their electricity is cheap enough. Anyone know how much the typical mining op pays for power?

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12.07.2022

13 ответов

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Jun_Bunz

the problem is some can, but some definitely can't; the money some people put in there they need

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12.07.2022

Jason Автор вопроса

CryptoInvestor
$8 a week? as in per mining machine?

Haha sorry, skipped units. They claim $8 million a week total. I want to determine if that's feasible

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12.07.2022

CryptoInvestor

Jason
Haha sorry, skipped units. They claim $8 million a...

I saw some tweet about another mining company doing that to repay their debts to affected party earlier.

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12.07.2022

Santa

CryptoInvestor
I saw some tweet about another mining company doin...

enough damage done.. not sure if Celsius has so much time !

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12.07.2022

Jason Автор вопроса

CryptoInvestor
I saw some tweet about another mining company doin...

Was it Nicehash? They were hacked for I think and they repaid over like 5 years. It was a much smaller amount than this alleged 2 billion hole, but I'd think the principle is the same. Seems like this would be a preferable option to everyone instead of a bankruptcy that would probably take longer anyway

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12.07.2022

CryptoInvestor

Jason
Was it Nicehash? They were hacked for I think and ...

Yeah..no one knows how big hole is...that's why we're waiting for Celsius to pay back loans and free up collateral and assess how big hole is if there is a hole.

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12.07.2022

Santa

CryptoInvestor
Yeah..no one knows how big hole is...that's why we...

nah .. They definitely have a clue on the numbers .. all on-chain is for something else ..

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12.07.2022

Humberto Fuenmayor

If it is hypothetically 2 billion, it would take almost 5 years to repay it

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12.07.2022

Maarten

Yup if the hole is limited it could be a viable strategy. Sell some BTC now and try to recoup via mining. Sell some ETH now and try to recoup via stETH yield.

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12.07.2022

Mert

Not sustainable and take a long time to recover. Bitcoin Difficulty will keep going higher and even Simon's plan better than that.

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12.07.2022

Al MicMac

What about Lakshay’s video. Pls assess what’s more sustainable between the two approaches, as it’s illuminating

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12.07.2022

Mert

Al MicMac
What about Lakshay’s video. Pls assess what’s more...