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Well that was a fun call I just had.

Owner of the company I freelance for: Hey I forgot to tell you something.

Me: What?

Owner: I bought you a plane ticket to fly to Puerto Rico. You're heading out in a month.

Me: What?! Why????

Owner: To set up cryptocurency mining rigs.

Me: Just because I know a bit about mining doesn't make me an expert.

Owner: We have $80k in our pocket in investments from outside parties, with another $20-30k on the way. You get 20% of the coins mined for as long as you manage it.

Me: So we're gonna set up several rigs, utilizing a b250 motherboard, g4400 CPU, 8GB of RAM and 10 GPUs each. We'll have AMD rigs for monero and Nvidia rigs for Ethereum and others. We'll use awesome miner for profitability switching on the fly. Each machine is probably going to be $5k each, possibly $4k with bulk discounts. We'll need at least 1500W per rig for power, 2000W to be safe, so we need to make sure we have ample power delivery to the mining warehouse.

Owner: I thought you weren't an expert?

Me: I'm not, but when there's money involved my motivation to Google goes into overdrive.

Comments
  • 180
    Shhhhhh. Don't let them know our secrets lmao
  • 105
    @jhh2450 Nah this guy is cool. I can tell him how I bullshit through anything and he just laughs. He doesn't give a shit as long as it isn't his problem lol.
  • 32
    But. 20%.
    Are you going through with this?
  • 129
    @Caedendi 20% continuous take on the coins earned from mining for machines that I build with money I didn't have to spend, monitor remotely and check on a few times a day, while being paid to fly and stay out there while setting it up? Sure, why not?
  • 31
    @Caedendi It's essentially 20% pure profit, if I understand this correctly.

    @JMoodyFWD Do you have an hourly wage that you'll get paid while setting them up?
  • 25
    This doesn’t sound true.

    20% is pretty high as an initial offer.
  • 19
    Bro, it sounds like you need help, I’ll buy my own ticket HMU! Lol

    Awesome gig, good luck!
  • 7
    @JMoodyFWD
    @jhh2450
    It sounds too good to be true, that's why I was asking.
  • 29
    @jhh2450 @SSDD @Caedendi To clarify, this is the same guy whose company I've been freelancing for well over 2 years now. Anytime he has stated a term of payment, he has always delivered, without delay. Maybe he's overselling himself, but I don't think that's the case, and here's why:

    He and a business partner are investing 80% of the hardware cost out of their pocket (I misunderstood intially how much was from outside parties). The outside investors account for 20% of the funds (they were originally investing in ASIC miners, but the coin we planned on had ASIC competition flood the market and tank the coin's value, so they changed their method to GPU miners to prevent another ASIC stanglehold taking place and to ensure a long-term foothold). So as a result of their investment, they're taking 80% of the coins earned and 20% belongs to the investors. Of their 80%, I'm getting 20% to maintain the infrastructure and fly out for maintenance when needed. They split the remaining 60%.

    I have had another call since my initial post, and my responsibilities have been explained a bit more. In addition to managing the infrastructure, they also want me to manage their exchange accounts and the accounts of their investors and invest those coins into others based on projected growth. That being said, I've got quite a bit on my plate, which makes 20% of the coins earned from mining a bit more justified.

    Now I don't know why they want me to be a crypto broker, but my only guess is that they trust me and cryptocurrency is fairly easy to steal. But if my flights and accommodations are to be paid, I have no responsibility on cost and my only job is to build and maintain the infrastructure and invest their coins for them, why not?

    This guy has given me no reason to not jump on this deal from 2+ years of dealing with him (and I will be getting a contract just to be safe), so I'm moving forward with it. We'll just see what happens and I'll keep you all informed here on any updates.
  • 10
    @jhh2450 Also to clarify, I'm not being paid specifically to set this up, but I'm on retainer for this guy's company, so either way, I'm paid twice a month from him regardless of what he's having me do.
  • 25
    @JMoodyFWD So you're technically getting paid to do this, as well as the bonus 20% lol.

    And your travel is covered...that sounds fucking awesome dude.
  • 20
    Lol me been from PuertoRico. I gotta tell you. You better have your own power source because the electricity goes out quite often. In addition is hot and humid Or raining. So hope a good climate control is in place
  • 11
    Puertorican here. Like @jorgecastillodp said, there are a couple of issues with electricity in some areas. Also, because of gas being imported, electricity might be more expensive than you would think.

    One question though. Is your client planning on moving to PR? Because the only benefit I see for mining in PR, is the tax. Which he would have to be a resident to take advantage of.

    PS Try the food while you're here.
  • 7
    @ODXT Partner, not my client, is moving to Puerto Rico for the tax banefit. He's also supposedly the patent holder on the most effective solar panels, and he's setting up a huge array of them with a massive battery bank for the mining machines, which will be used in conjunction with SolarCoin to earn more cryptocurrency.
  • 7
    the only place where you get unlimited and very cheap energy is Iceland and its geothermal powerplants.
    Why on earth does he want to go to puerto rico, whose power and internet infrastructure was destroyed half a year ago? 😧
  • 4
    @heyheni because the location of this connects with another business deal already in place there that I can't discuss due to NDA, but they go hand in hand and benefit each other.
  • 9
    @heyheni
    Also, as long as they are US citizens, they would be taxed by the US. The United States is one of the few countries that does this.

    But if they were to move to PR, they keep their US citizenship and are taxed under Puerto Rico's tax laws.

    Which thanks to recent news, has become more widely known. (I think the PR government introduced something to make this easier too)
  • 2
    If the price heads down, will you have to cover 20% of losses too? :)
  • 4
    @netikras 20% of coins mined. No responsibility for losses or costs.
  • 0
    Proof of work is such waste of resources
  • 5
    Monero expert miner here, can I join in? :D

    (Also, I would never use closed-source crap like awesomeminer and that shit, there are better ways to automate stuff, and better miners with significantly greater performance (at least for Monero))
  • 3
    A couple of thoughts:

    Someone will need to be there 24/7 for maintenance, as the more hardware you have, the more often something is going to break and need fixing.

    You can't do that remotely. :-)

    And your need someone else there for security. :-)
  • 3
    @JMoodyFWD
    If you have any questions about PR while you are here, I'll be happy to answer. When you leave, please let me know how your stay here went.
  • 0
    I definitely can't even tell you. For a long time I use only one service (auspost tracking) https://pkge.net/couriers/... . To send me to other countries, I was never disappointed. Also, you can track all the moments of your package there. I recommend, try and you will find out. Good luck in the future and take care
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