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Old 07-03-2018, 08:26 PM
 
Location: Colorado Springs
3,901 posts, read 1,547,219 times
Reputation: 2987

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Quote:
Originally Posted by TCHP View Post

That is a very slippery slope to manage over time because if a company will move here for perks, what is there to retain them when someone offers them more goodies than you do or corporate directors change over with a different point of view or set of priorities?
This is why workplaces should organized democratically not in a hierarchical fashion. Essentially the means of production must be democratically controlled for the workers to truely benefit from there own labor instead of being stolen by parasitic CEOs.
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Old 08-20-2018, 04:29 PM
 
Location: Colorado Springs
4,446 posts, read 4,489,436 times
Reputation: 15731
Default Deal still on?

Now that crypto-currencies have taken a hit, I wonder if this deal is still on.

https://www.nytimes.com/2018/08/20/t...T.nav=top-news

"SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

“I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.”

Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, according to data from the website coinmarketcap.com."

Easy money.....usually isn't.
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Old 08-20-2018, 04:40 PM
 
Location: Colorado Springs, CO
78 posts, read 59,436 times
Reputation: 149
I drove by the location yesterday morning. I was surprised how HUGE it is. It's also completely fenced off to where you can't even drive to the lots around it. I also noticed that the gazette article link doesn't work anymore.
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Old 09-04-2018, 08:45 AM
 
1 posts, read 262 times
Reputation: 10
Exclamation Bitcoin mining expert

Quote:
Originally Posted by Vision67 View Post
[url=http://gazette.com/bitcoin-mining-firm-pays-13m-for-vacant-colorado-springs-intel-plant/article/1628139]Bitcoin mining firm pays $13M for vacant Colorado Springs Intel plant | Colorado Springs Gazette, News[/url]

"Colorado Springs apparently is about to take its place among the ranks of cities becoming home to the complicated and confusing world of bitcoin mining and cryptocurrency.

A California-based limited liability company, 3G Venture II, paid $13 million last week for a large portion of the former Intel Corp. chipmaking complex along Garden of the Gods Road on the Springs' northwest side.

3G Venture's owner, identified in public records as John Chen of suburban Los Angeles, couldn't be reached for comment. But Michael Palmer, a broker with Quantum Commercial Group in Colorado Springs who marketed the Intel property, and city economic development leaders, say Chen plans to launch bitcoin mining at the site."

Bitcoin "mining" burns a lot of power. That former Intel site has ample capacity.

But they're giving this property away. Just $13M for 700K sq ft is $19 per sq ft. What a deal!

"But the electricity network installed to accommodate Intel was particularly attractive to Chen and his 3G Venture for bitcoin mining, Palmer said. The Intel property includes an on-site substation and two separate power feeds, he said. The new owner also is working with Colorado Springs Utilities to increase capacity to the site, he said.

"There's just not many facilities, locations ... within Colorado Springs, that can handle anything like this," Palmer said.

CSU electric rates, meanwhile, are lower than in many cities and business leaders for years have sought to woo new employers to town, in part, by marketing the Springs' cheaper power.

With its need for electricity, a bitcoin mining operation is akin to a corporate data center, where businesses store computer servers and other equipment used to operate their websites and internal networks. Colorado Springs' cheaper power has attracted data centers operated by Progressive Insurance, FedEx and Walmart, among others."


However, this won't create very many jobs: "Like data centers, bitcoin mining doesn't add many jobs - only enough to operate the computer network."



It is vital that all Bitcoin mining equipment purchased needs to be able to be converted over to Bitcoin Cash Coin after the maximum number of Bitcoins have been mined! Not doing this will make all the equipment bought worthless after the maximum number has been mined. Get into the know about everything involved with mining Bitcoin!
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Old 09-04-2018, 09:20 AM
 
878 posts, read 935,388 times
Reputation: 1013
Quote:
Originally Posted by telliott80915 View Post
It is vital that all Bitcoin mining equipment purchased needs to be able to be converted over to Bitcoin Cash Coin after the maximum number of Bitcoins have been mined! Not doing this will make all the equipment bought worthless after the maximum number has been mined. Get into the know about everything involved with mining Bitcoin!
The maximum number of bitcoins won't be achieved until approximately 2033. The hardware will be worthless well before then.
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Old 12-17-2018, 07:04 PM
 
Location: Colorado
712 posts, read 372,086 times
Reputation: 802
As bitcoin is becoming worthless, did this deal go through, is the company still in business?
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Old 12-17-2018, 07:05 PM
 
Location: Colorado Springs, CO
78 posts, read 59,436 times
Reputation: 149
Quote:
Originally Posted by DrDog View Post
As bitcoin is becoming worthless, did this deal go through, is the company still in business?
Good question!
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Old 12-18-2018, 05:50 AM
 
Location: Colorado Springs
4,446 posts, read 4,489,436 times
Reputation: 15731
https://www.businessinsider.com/forg...o-mine-2018-12

"Bitcoin prices have been obliterated over the past 12 months, falling over 80% from December 18 last year.

Such has been the scale of the slide, they're becoming increasingly uneconomic to mine given the costs involved.

JP Morgan explains (our emphasis added):

The latest decline in prices towards $3,000 per bitcoin has also seen a sharp decline in the hash rate. This suggests that prices have declined to a point where mining is becoming uneconomical for some miners, who have responded by turning their mining rigs off. What had been striking with the Bitcoin hash rate was that it peaked only recently at the end of October i.e. much later than the peak in Bitcoin prices at the end of 2017. Combined with price declines, the surge in the mining activity in the first ten months of the year, partly driven by chip manufacturers deploying miners to test their products and partly by miners adopting more efficient operations, created a collapse in mining profitability from $4/Day for 1THash/s at the end of 2017 to $0.16 currently. Therefore in the absence of any stabilization in prices, the least efficient miners were forced to exit mining activity abruptly."


My guess is the the Intel plant sale also goes bust.
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Old 12-18-2018, 10:22 AM
 
20,453 posts, read 38,116,035 times
Reputation: 18297
Thanks for the update. I've always considered bitcoin to be a modern equivalent to the old tulip bulb mania when a 'rare' bulb could be worth as much as a home.

My hopes for that old Intel plant, 1M sq ft, was it would make solar panels for the western states where we have so much sunlight available.
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Old 12-18-2018, 11:54 AM
 
878 posts, read 935,388 times
Reputation: 1013
Quote:
Originally Posted by Mike from back east View Post
Thanks for the update. I've always considered bitcoin to be a modern equivalent to the old tulip bulb mania when a 'rare' bulb could be worth as much as a home.

My hopes for that old Intel plant, 1M sq ft, was it would make solar panels for the western states where we have so much sunlight available.
Nah. Just tear it down for some more housing for commuters heading to the economic engine of CO: Denver.
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