Mining for cryptocurrencies such as bitcoin isn’t the first “crazy” idea Dan Ingram has come up with, according to his wife Amanda Ryland. “Most of his endeavours have been profitable,” Ryland said. “They may sound crazy, but I trust him.” Entrepreneurs at heart, the Langley, B.C., couple sees real potential in the somewhat complicated world of cryptocurrencies. But rather than buy the digital currencies, they have invested more than $100,000 in the machines, electricity and space to create new ones — a process known as bitcoin “mining.”
Source: CBC News
Date: January 11th, 2018
1) Can this Langley, B.C. couple really compete using their “11 mining machines” against this Chinese operation pictured below?
2) Clearly cryto-mining is an IT intensive operation. What are some of the key variables at play here to be successful?