About the Episode
For the last part of the Mining Life podcast, CEO Daniel Diaz sits down with host, Jack Hakimian of Global Presence, to discuss the risk-benefit ratio of crypto mining.
Mining Life is a business venture that will bridge the gap between the concept of crypto mining and acquisition. They manufacture, operate, and manage high-quality mining rigs and venture into cryptocurrency for foreseeable profit. Mining Life is open to any adult interested to learn, mine, and invest in crypto. It is also open to anyone with existing assets to invest in building their own mining rig.
What are the risks of crypto mining? Just like any other ventures, there is a lot. Daniel discusses some of them including on a macro level, an independent investor view, and the government regulations.
Risk-Benefit Ratio of Crypto Mining on a Macro Level
Talking about the risk of cryptocurrency at a macro level, Daniel said, “Let’s start the macro-level, I mentioned them on the last podcast that there’s an environmental impact on mining. You’re basically creating, when you use mining rigs, little hears. So you have hundred of thousands of heaters producing heat, which is why the articles said that might increase the average temperature of the globe to 2 degrees Celsius. But how do we counteract that? There are technologies that, like I said, absorb the heat in and re-use the energy. So that’s one macro view.”
With crypto mining relatively a new player on the So we’re in the beginning and there are hardly any regulations. I read cryptocurrency news every day and just yesterday, Mongolio, which is kind of an independent business development region kind of like Hong Kong in China, they just make crypto mining illegal. Also, I don’t know what the reasons were. I know China’s trying to control the Bitcoin mining area and they own 65% of the mining rigs and the mining hash power in the world until recently. India is looking to ban cryptocurrency, Nigeria is looking to ban cryptocurrency so regulations can definitely hurt. There’s a lot of risks there because there have been a lot of scant. So, there are risk in the market, there are hardly any risks except when they start to impose rules and regulations,” Daniel continued.
But without risks, there are no rewards. “There are risks involved. Nothing is guaranteed especially when it comes to government regulations. But without risks, there are no rewards,” Daniel ended.
About Mining Life Shop
Located at 7625 17th SW Vero Beach, Florida 32968, Mining Life Shop is your one-stop for anything cryptocurrency-related. We guarantee secure payment, efficient delivery, and fast support for our items. To know more about our services, visit our website or send an inquiry through their contact form. To connect directly with CEO Daniel Diaz, book an appointment now. Stay updated with Mining Life’s latest offerings by following our social media accounts.