Luxor Starts Marketplace For Bitcoin Mining Rigs – 238

Luxor starts first of its kind Bitcoin Mining rig Marketplace for large-scale Orders Now this is the kind of building you Kind of want to see from these companies Bitcoin mining companies in the bear Market where they're able to do some Innovative stuff innovation in the bear Market is next to nil right like talking About it earlier you know a lot of the Um a lot of the tools that we use a lot Of the miners that we use Uh a lot of the operating systems that We use for this entire industry all of a Sudden just start disappearing right if You look at like minor releases we're Getting very few and far between The Giants that used to be are no longer Right the the Giants during eth mining Are are going the way of the dinosaur or Disappearing completely you know we saw This with Phoenix Miner previous cycle Um and you know we're kind of starting To see that with with some previously You know More developed miners this cycle I'll hold who I think is going to quit Developing until we really get into the Next cycle I can tell you that there are A few impressive ones that continue to Uh be innovating and adding new support Right now off the top of my head bz Minor and LOL Miner seem to be doing Very good in this manner but then

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There's also like you know pools that Are closing down all that sort of stuff And that's kind of par for the course on Any having so I wouldn't say that it is Purely due to the move of ethereum to Proof of stake despite what you know I Think the the larger consensus would Like to tell you it does appear that There seems to be this complete Blindness to the having cycle by a Majority of Spectators I suppose you know retail Investors it is quite concerning that it Because it is so clear and blatant That they still and I don't know if it's If if it's an actual like they literally Don't have any knowledge of it or if It's more of a hopium thing where it's Like well yeah there is the having cycle But really I think what effect is a ABC Or you know XYZ and it and it seems like That's kind of like the way it is where It's like You know this whole talk of like a 45k It's like we're gonna completely ignore You know historical data on the having And the and how that affects the price Of Bitcoin and say that you know based Off of this other metric which is if the Price is up in January it'll be up by 200 percent by December it's like No because even in your own statement Here you you you said that it that the Only other time that it's gone down was

In 2014 which is part of the having Cycle so you completely like Disprove your own Theory right there Which is quite wild and then like when We look at like a lot of people on the Mining front Especially GPU mining you know GP Mining's Dad we're going to sell all of Our gpus and look there can be Arguments For that But On the on the upside what I would tell You guys is that this isn't really any Different to the last having cycle early On in the bear market right I would say That due to energy costs it might be Exacerbated a little bit But this has the mining Market has been Like this before even on the GPU side Even when ethereum was still around Right so that is kind of the the Positive I would give you there The market for mining machines is Increasingly flooded with inventory from Struggling companies Bitcoin mining Services firm Luxor Technology these is starting the Industry's first unified Marketplace for New mining machines so that buyers and Sellers can directly connect through a Request for quote system The crypto mining Market is flooded with Stock offloading by or offloaded by Struggling companies the marketplace

Comes when thousands of discontinued Machines have further overwhelmed an Already inundated Market in 2022 the Industry did not have enough Infrastructure to plug machines into and Start bringing in Revenue so hundreds of Thousands of machines were left unused As the bear Market hit the sector Miner Started selling more machines further Depressing the prices the price of Binding rates has dropped about 85 Percent in the past year from Ducks Luxor data in the new platform buyers And sellers can create requests for Machines in an open bid system and Directly negotiate prices currently the Market operates primarily through Brokers including Luxor that is an Opaque in regionally fragmented market End quote that luxor's RFQ system will Unify thereby improving prices and Increasing liquidity in the secondary Market The Firm said in a Wednesday Press release obviously this is pretty Cool Now Compass mining also Aggregates Listings for mining rigs on sale on a Separate platform however the volume is Small with listings mostly ranging Between 1 to 10 machines and that's Because really what Compass mining did Is quite different than what Luxor Mining does as far as their target Demographic and if you've talked to

Either one of the companies that becomes Very obvious like It became obvious to me that Luxor was a Little bit different when I met them at Uh up in Wisconsin And as well as at the crypto mining Conference Whereas like when you talk about like How compass's business model which is Basically selling machines and hosting Machines to individuals puts it at a Yeah a much lower throughput and so I Mean that is going to be advantageous For individual miners like smaller Miners like myself or something like That I'm just trying to build out myself Maybe Compass mining is the way to go to Find these rigs to buy on you know for Cheap between one to ten machines but if You're really trying to stand up like Large Farms with like you know one that Even like let's say small large Farms I Don't know how you put that large Investment smaller Farms like one to Five megawatts that sort of thing where You want to be buying you know Hundreds of machines this sounds like It's going to be a big deal right Um it does say that Luxor will take Commission from the party that responds To the request whether it is a seller or A buyer which will also encourage Market Making on the platform said Colin Hopper Harper there we go head of content

Research at Luxor about 1.6 million Dollars worth of deals have closed so Far on the day on the first day of the Platforms operation Bankruptcies of giants in the space Including Celsius Mining and core Scientific could mean more mining rigs For sale before buyers and sellers Relied on a patchwork of venues to buy And sell mining Hardware now they can Observe offers listings and settlement Prices all in one place which improves Pricing transparency and expedites the Mining Hardware procurement process Luxor operations manager Lauren Lynn Said in the press release now I think This is much needed for sure especially Like right now if you want to purchase Like Even I mean I would like to see one that Is more obviously for Look I get it like buying these things in Bulk is going to get you an advantage in General today's sponsor is BT miners BT Miners has been a long time sponsor of The channel and a proven reliable source For Asic miners if you're looking to Purchase Asics Hardware from Bitcoin to Dogecoin miners they are available for Purchase on Bt-liners.com BT miners is a trusted Source by both asicminervalue.com and Crypto miner.com follow the affiliate

Link in the description and tell them so Sent you to support the channel And but like I've said in the past like The biggest downside for me when we get Into like Asic mining versus GPU mining Is that at this point mining feels like You price out the little guy and the Thing is is that mining was the best Opportunity to basically start Practicing the basics of investing in Essentially assets And and generating Revenue off of those Assets at a much smaller level right Whereas if you want to get into anything Else you know you want to get into like Hedge funds you want to get into I mean Like obviously real estate something Along those lines the barrier entry is Much higher right And now it is starting to feel like the Barrier to entry is much higher in Mining right Um even if we got into the argument of Well you can buy some used Asics for you Know pretty cheap or you can buy the Latest greatest you know Bitcoin mining Asic for four grand yeah you can buy That for four grand but you know your Roi is still over a thousand days right Um So you almost have to do it at scale And that makes it very difficult it's Not like going and purchasing an RX 580 For two hundred dollars

And starting to mine on that and buying A second one a third one a fourth one Fifth one it's not it's not like it used To be I don't know that for sure we'll Never go back to that right Um but it definitely feels like we could Possibly not go back to that where is Like you know where's the lights at the End of the tunnels there's the flux Right uh that that will remain GPU Minable obviously with proof of useful Work on the way the way in which you do That will be changed significantly Meaning that you are going to have to Start worrying about PCI e-lanes right And that's been pretty much confirmed by Um Daniel so The even if it does end up being flux my Point would be is that your barrier to Entry will still be higher due to proof Of useful work requiring higher end Parts Beyond just the gpus right we're Talking about needing thread rippers now To run all of the gpus you know Um we're not talking about Celeron dual Core uh processors with a buy one pcie Lanes we're we're talking about you know A threadripper on buy eight PCI Lanes Needing you know and then running four Of them and having to buy like basically For every four having to buy another Threadripper motherboard so it's gonna Be a little different if it goes the Flux route just heads up there

If you go the Ergo route and that starts To pump because there becomes issues Within the smart contract systems that Are currently proof of stake Um Then that could be a possibility the the Only reason I have doubt there in Particular is specifically due to the Fact that there is a pretty close Relationship between cardano and ergo And I'm not exactly sure why and I'm Just kind of curious where that goes From uh Competitive standpoint Um especially with the with the whole Weird trade between hoskinson and the Ethereum classic Foundation Twitter Um there's stuff there that seems to be Clouded in mystery that I'm not really Certain of Meaning If okay so if this statement is ergos The only ground up right because this is What I say ergo's the only ground up Proof of work Competitor to to ethereum right And that by and large part like Obviously Still Remains true it's just How much influence does this proof of Stake coin known as cardano have over it Right Um What is that relationship I hope it's just for Sigma protocols

Right and that's really what it's about And all Charles is really trying to get Out of it is you know Sigma protocols That that's what I would hope for but These are the things that bounce around In my head thanks for checking out this Clip from the crypto mining show you can Check out the full episode here or more Crypto content down here also I'd like You to check out my locals page at son Of a tech.locals.com where you can Become a member for free or choose to be A five dollar a month supporter that Unlocks additional content

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