Share this page!

Meltem Demirors Profile picture
Twitter logo
12 Mar, 7 tweets, 4 min read
1/ i've been mining #bitcoin with @compass_mining for a month now, and as promised, am sharing my experience as i go!

disclosure: i'm an investor in Compass personally and via @CoinSharesCo ventures, and a board director

here's the high level summary 👇 details in thread
2/ i purchased a @BITMAINtech S19 from Compass in late December for $7500. due to the massive shortage of ASICs and the high demand, this machine would currently sell for $9000.

more on the machine here: asicminervalue.com/miners/bitmain…
3/ i elected to host my miner in the US, and Compass organized for my machine to be installed at this facility in Kentucky.

i pay about ~$250 / month for electricity to power my miner

you can browse all of Compass' hosting facilities here:
compassmining.io/facilities/
4/ my miner was connected to @f2pool_official, and i have a dashboard i can review anytime to see both block reward and tsxn fee revenue earned by day and over my ASICs lifetime, and hash rate metrics

my mining income (in BTC) is directly sent to my @CasaHODL wallet every week
5/ i'm happy with my foray into mining, and how easy it was to set up.

for you hardcore bitcoiners:
step 1. owning bitcoin

you can also:
2. fund bitcoin core development (i give $ + ⌛️ to @mitDCI)
3. contribute to global hash rate (i use @compass_mining)
4. run a full node
6/ being a bitcoiner is so much more than just buying bitcoin and putting it in a third party custody solution and then tweeting bullish things.

this community is about volunteerism, intellectual curiosity, and engagement. tons of amazing co's are making that easier every day!
7/ just sharing my experience, and excited to keep investing in and working with teams that make it easier for people to set up, run, and maintain their own #Bitcoin infrastructure

it's not easy, but it's worth it

DYOR, not investment advice, disclosures in bio

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Meltem Demirors

Meltem Demirors Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Melt_Dem

Meltem Demirors Profile picture
21 Feb
1/ what grinds my gears - boomer bankers saying “oh bitcoin is a fad because my teenage son / cab driver / housekeeper was talking about it” like it’s 1929

it’s 2021

we have supercomputers in our pockets

high quality research is freely and readily available
2/ anyone with a smart phone, a little bit of cash in their checking account, and a desire to learn can start investing and can get exposure to a wide range of asset classes

they don’t need a dude in a suit to do it

they don’t need a 60/40 portfolio
3/ people are watching the dollar get obliterated and their portfolios get rekt

they’re tired of getting 0.1% interest while subsidizing the lifestyles of the people who laugh in their faces while robbing them

they’re taking charge of their portfolio to get out of the rat race
Read 5 tweets
Meltem Demirors Profile picture
17 Feb
1/ #Bitcoin FUD-busting time!

claim: bitcoin ownership is heavily concentrated.

@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣

truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.

address =/ account.

one person can control multiple addresses.

one address can hold bitcoin belonging to multiple ppl.

exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January

the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.

full piece here:
insights.glassnode.com/bitcoin-supply…
Read 10 tweets
Meltem Demirors Profile picture
17 Feb
1/ "the first structure that stood taller than the Great Pyramid of Giza was erected nearly four thousand years later.

it was a cathedral."
2/ "religion is not always about God.

someday scholars will study Federal Reserve papers with the academic detachment with which we study ancient papal bull.

at the time, it meant something.

but in hindsight, it was arrogant gibberish."
3/ "the fact that we keep thinking and talking in terms of the rational (economics) to explain the irrational (the divine) reflects the inability of our society to experience a reality exists between these two poles."
Read 5 tweets
Meltem Demirors Profile picture
7 Feb
1/ how to manage your investors - a short thread

i am always talking to my portfolio company founders about how to work with investors.

remember, founders, investors work for you!

a great place to start - @briannekimmel's piece

wfh.substack.com/p/three-ways-t…
2/ at a minimum, send out investor updates. they're as much for you to track your progress as they are for investors.

here's a simple template i use @CoinSharesCo Ventures and my angel portfolio.

quarterly is a must, but monthly helps in the early days.

coinshares.com/assets/resourc…
3/ you cannot lead if you are unwell! manage your mental state.

get sleep. get sunlight. create space to do the things that nourish you.

DMs are always open. a coach, therapist, or mental health pro is a great resource!

kudos to @alexisohanian for leading the way w 776 VC.
Read 6 tweets
Meltem Demirors Profile picture
25 Jan
1/ outlook for bitcoin: positive 🚀

in this thread, i'll quickly outline key data points on #bitcoin sentiment, demand, market structure, and macro conditions

disclosure: i own BTC, obvi. this is not investment advice. DYOR. further disclosures at coinshares.com
2/ let's start w sentiment ☺️

first, investor sentiment:
✅ @blackrock filed to add BTC to 2 funds, CIO has 400k price target
✅ @RayDalio's Bridgewater reportedly issuing BTC research report
✅JPM, Goldman, and other bulge brackets initiated research coverage
3/ next, trader sentiment:

🚨 most important indicator is the forward curve

normally BTC futures trade in backwardation after a price drop.

this time, the curve stayed in contango following drop, meaning market makers are bullish 🐂📈 despite funding rate increase!
Read 9 tweets
Meltem Demirors Profile picture
24 Jan
1/ let me give an example of how deals are going down in crypto VC - i’ll do a sample equity deal and token deal

deal 1: early stage company raising equity w/ ~$0 revenue in nov 2020

deal 2: token project bootstrapped by anon founders in oct 2020

let’s go 🧠🪐
2/ let’s start w the equity deal. early stage co that was just getting started w monetizing in november. will obfuscate all detail ofc - this is directional.

we negotiated terms to raise $2-3M at a sub $15M valuation w expected revs of $2-3M in 2021.
3/ in Dec, the co did over $1M. Jan to date, the co has beaten its entire 2021 revenue and profit goals.

they cut the round to strategic investors only + raised way less b/c they don’t need money, just help. firms got cut entirely or allocation dropped to $25k (too small!)
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @Melt_Dem has new unrolls!

Check out other threads from @Melt_Dem!

Read all threads by @Melt_Dem