I need some help about the electricity for setting up a small bitcoin mining farm.

[scott1999]

5 hours ago, patman30 said:

Thanks for the link, Although they look very similar
price does not seem too great compared to harvestright, i would just need deal with the import
$2300 for 6-10lbs (84k THB upto 4.5kg)
$3800 for 18-27lbs (140k THB upto 12.2kg)
$5000 for 40-50lbs (183k THB upto 22.6KG)

when i checked that website i really get put off by companies that do not like to display the price.

The reason I bought my one was because of the aftersales is better than HR. They do go wrong

[scott1999]

Edited June 11 by scott1999

[scott1999]

Thanks

Edited June 11 by scott1999

[scott1999]

5 hours ago, Sandboxer said:

U posted a pic of yourself, the equipment, AND a wrote basically a confession here.

 

All it takes is a few screenshots by a narc member here and a quick email.

 

Not very clever IMO

 

 

 

Thanks 

Edited June 11 by scott1999

[scott1999]

5 hours ago, Sandboxer said:

U posted a pic of yourself, the equipment, AND a wrote basically a confession here.

 

All it takes is a few screenshots by a narc member here and a quick email.

 

Not very clever IMO

 

 

 

Thanks 

Edited June 11 by scott1999

[MeePeeMai]

Wow OP you must have a rather large pair to be running a bitcoin mining business (even a small one) here in Thailand.  

 

I could be wrong but mining BTC here is considered a business and is frowned upon by the Thai authorities because of the high amount of electricity it uses and the "impact on the climate" as reported in many online news articles.  

 

There are numerous new articles about raids on BTC mining sites all over the country (though most were either stealing electricity or the bills had gone unpaid for some time) but the equipment was seized and the sites shut down.  The import of the mining machines were also called into question.

 

A quick internet search has tons of stories about BTC mining raids here in Thailand.

 

I hope you did your due diligence and research before heading into this venture and I truly wish you all the best but wouldn't it have been easier, safer and maybe even more profitable to just spend that money on BTC and hodl it?

 

[scott1999]

35 minutes ago, MeePeeMai said:

Wow OP you must have a rather large pair to be running a bitcoin mining business (even a small one) here in Thailand.  

 

I could be wrong but mining BTC here is considered a business and is frowned upon by the Thai authorities because of the high amount of electricity it uses and the "impact on the climate" as reported in many online news articles.  

 

There are numerous new articles about raids on BTC mining sites all over the country (though most were either stealing electricity or the bills had gone unpaid for some time) but the equipment was seized and the sites shut down.  The import of the mining machines were also called into question.

 

A quick internet search has tons of stories about BTC mining raids here in Thailand.

 

I hope you did your due diligence and research before heading into this venture and I truly wish you all the best but wouldn't it have been easier, safer and maybe even more profitable to just spend that money on BTC and hodl it?

 

Hi PeeMeeMai 

Everything in Thailand can be questioned. 

You said....  could be wrong but mining BTC here is considered a business and is frowned upon by the Thai authorities because of the high amount of electricity it uses and the "impact on the climate" as reported in many online news articles. 

I have done some checking and even the PEA is ok. As for the impact on the climate, I'm using second-hand solar panels that would be going into a landfill, so I feel I'm doing my bit for the environment.

 

You said....Has been frowned upon.

I did read an article that the government's happy as long as you pay tax on any profits of which it's going to take me a long time after all the investment to make any profits so it's up to them I'll do whatever they say till then I'll keep going.

 

 as for stealing the electricity anyone who does that deserves what they get.

 

 Thank you again

 

PS The site of the solar farm is my land next to the villa I intend to do something like the second picture and the PEA are helping me to do it

 

 

 

 

[MeePeeMai]

4 minutes ago, scott1999 said:

Hi PeeMeeMai 

Everything in Thailand can be questioned. 

You said....  could be wrong but mining BTC here is considered a business and is frowned upon by the Thai authorities because of the high amount of electricity it uses and the "impact on the climate" as reported in many online news articles. 

I have done some checking and even the PEA is ok. As for the impact on the climate, I'm using second-hand solar panels that would be going into a landfill, so I feel I'm doing my bit for the environment.

 

You said....Has been frowned upon.

I did read an article that the government's happy as long as you pay tax on any profits of which it's going to take me a long time after all the investment to make any profits so it's up to them I'll do whatever they say till then I'll keep going.

 

 as for stealing the electricity anyone who does that deserves what they get.

 

 Thank you again

 

PS The site of the solar farm is my land next to the villa I intend to do something like the second picture and the PEA are helping me to do it

 

 

 

 

 

Wow that's an impressive solar array!  Very nice of the PEA to assist you with your endeavor.

 

I hope you didn't think I was bashing you or being sarcastic.  I was merely concerned for your well being here and like I said, I really do wish you the best of luck and I hope you are very successful  in your BTC mining operation.  

 

I've been into BTC since 2017 and it's been a wild ride so far.  No complaints here... other than all the money I lost in sh*t coins in 2017/2018 (when a family member talked me into "diversifying my portfolio for better gains").  Never again, I learned that lesson the hard way.  It's BTC only for me now.

 

Well take care, have a great day and thanks for the pics / thread. 

 

[scott1999]

20 minutes ago, MeePeeMai said:

 

Wow that's an impressive solar array!  Very nice of the PEA to assist you with your endeavor.

 

I hope you didn't think I was bashing you or being sarcastic.  I was merely concerned for your well being here and like I said, I really do wish you the best of luck and I hope you are very successful  in your BTC mining operation.  

 

I've been into BTC since 2017 and it's been a wild ride so far.  No complaints here... other than all the money I lost in sh*t coins in 2017/2018 (when a family member talked me into "diversifying my portfolio for better gains").  Never again, I learned that lesson the hard way.  It's BTC only for me now.

 

Well take care, have a great day and thanks for the pics / thread. 

 

Hi 

 

Sorry if I came across as a bit guarded but there are some complete muppets on this platform now. My original purpose for coming back to TV was to get help With the electrics. Which I got and I'm thankful for the people that helped me.

 

I couldn't agree with you more BTC all the way for me. I'm old now but I'm really enjoying this hobby investment lifestyle I don't know what you'd call it? But I've always been a person who doesn't want to sell anything whether it a house a car but they all die eventually. With Bitcoin it's generational wealth and you don't have to do very much to keep it going. I don't even want to sell it I'm just happy with this lifestyle if that makes any sense.

[MeePeeMai]

Good to see you're living the dream!   I used to fantasize about mining BTC myself and I wished I had done so in the early days.

 

I guess my biggest regret (most of us have) is that I wish I would have embraced BTC sooner.  I sat on the fence for a long time thinking that it was just a "pet rock fad" and wouldn't last etc.  I had a chance to load up on Bitcoin when it was practically free but I laughed it off and turned it down.  What a mistake that was. 

 

It's still very early though and like you I'm getting old, but I don't have any children to leave it to so who knows... maybe I'll just take mine with me when I check out of this body and ad to the "lost forever" stack.

 

Keep on Bitcoinin!!

[scott1999]

2 minutes ago, MeePeeMai said:

Good to see you're living the dream!   I used to fantasize about mining BTC myself and I wished I had done so in the early days.

 

I guess my biggest regret (most of us have) is that I wish I would have embraced BTC sooner.  I sat on the fence for a long time thinking that it was just a "pet rock fad" and wouldn't last etc.  I had a chance to load up on Bitcoin when it was practically free but I laughed it off and turned it down.  What a mistake that was. 

 

It's still very early though and like you I'm getting old, but I don't have any children to leave it to so who knows... maybe I'll just take mine with me when I check out of this body and ad to the "lost forever" stack.

 

Keep on Bitcoinin!!

Don't kick yourself we are where we are, and as you say we are still early. I like that idea of just taking it with you when you die. But I also have to consider my dogs I rescue dogs at the moment I've got 12 and one of the reasons I am doing this with the mining and the solar panels is so that someone can take it over when I die without having to worry about the money I've been a bad man in my life but I'm trying to do good now.

[patman30]

3 hours ago, scott1999 said:

The reason I bought my one was because of the aftersales is better than HR. They do go wrong

have they done any maintenance on the machine?
if so what, and what was the cost?

i could be tempted by such, but personally i would just learn what to do myself, unless it is already paid for

[scott1999]

24 minutes ago, patman30 said:

LOL
when you want a proper conversation with someone here, i find it much easier to just DM and avoid the noise
and yes most do not have anything better to do.

 

12 minutes ago, patman30 said:

have they done any maintenance on the machine?
if so what, and what was the cost?

i could be tempted by such, but personally i would just learn what to do myself, unless it is already paid for

They give a one year warranty and they came out twice for me I can't fault them for that I would have chosen the harvest right but it was the maintenance aspect that was the deal breaker with harvestright

[JBChiangRai]

2 hours ago, scott1999 said:

 

I did read an article that the government's happy as long as you pay tax on any profits of which it's going to take me a long time after all the investment to make any profits so it's up to them I'll do whatever they say till then I'll keep going.

 

 

For individuals, the tax is not on profit but it's Personal Income Tax on the entire sales amount of BTC you sell on an authorised Thai exchange (unless you bought them on an authorised Thai exchange, which you didn't). There is no relief for the costs you have incurred in getting there, eg electricity.

Edited June 11 by JBChiangRai

[scott1999]

On 6/11/2024 at 6:02 PM, JBChiangRai said:

 

For individuals, the tax is not on profit but it's Personal Income Tax on the entire sales amount of BTC you sell on an authorised Thai exchange (unless you bought them on an authorised Thai exchange, which you didn't). There is no relief for the costs you have incurred in getting there, eg electricity.

Thank you for the clarification. So I think what you're saying is if I don't sell any of the Bitcoin I can't be taxed on it?

[JBChiangRai]

1 hour ago, scott1999 said:

Thank you for the clarification. So I think what you're saying is if I don't sell any of the Bitcoin I can't be taxed on it?

 

Correct.

 

If and when you do sell it, my recommendation would be not to sell/exchange it on a Thai exchange.  The Tax people are watching for trades on Thai exchanges.