You can't argue with thousands of years of monetary history. Gold and silver have been money for the majority of recorded human history. They are not going anywhere as far as an asset class, no matter what the Bitcoin maxis say. I have always been a metal head, so I am going to bring the two worlds together through mining!
The idea of my solar powered mining farm is to of course farm the power of the sun to run these miners and make some crypto! I am focused on merge mining DOGE and LTC and then putting CPUs to work mining Monero. As these mining rewards collect over time, they will be used to make purchases of silver bullion from APMEX or JMBullion directly with these freshly mined coins! But it's not that simple... Mining is pretty freaking expensive! So I am going to explain my little operation and how I am funding it through trading profits, Hive rewards, and any other crypto earnings I can get my hands on!
Why Am I Worried About Silver?
Well, silver has been money for about 3000 years, give or take, so the history is there of course. Silver is a long term play for me as I am securing my wealth in some hard metals. Silver is of course cheaper than gold, and has less of a premium against the spot price, so it's a bit easier to get my hands on physical bullion.
Another reason is really diversity of my savings. I made the mistake of putting everything into crypto at one point and that didn't work out so well for me. Now is completely different and I am back stacking those pretty metals as a hedge against both fiat and anything digital.
And third, I am wanting to stack enough to start actually selling bullion for crypto on marketplaces like @hivelist and XMRBazzar and going to collectible shows and flipping for cash or crypto. I am also playing around with 3D printed tubes and displays to sell along with it for some extra. I would go and use the proceeds to buy more silver and take the profits into more mining equipment!
But What About Gold?
Here is my plan for gold... I will trade the silver to gold ratio to swap from silver bullion to gold bullion when it is lower. Right now the ratio is around 85:1 (give or take). That is 85 ounces of silver to 1 ounce of gold. So that means I am looking to stack as much silver bullion as I can while the ratio is this high. When the ratio drops, say to maybe 75:1 or below, I will start flipping silver bullion into gold. So let's say at that time, I have 100 oz of silver and I trade 75 of them into gold, I will have the 1 ounce of gold and 25 oz of silver left. That's how I will be accumulating gold for now.
DIgital Mining over Physical Mining
As much as it would be fun to go out into nature and go hunt and mine for gold, I am going to leave that up to the guys that drive the heavy machinery. I will stick with what I know and that is mining cryptocurrencies like DOGE, LTC, and XMR. These coins are all strong blockchains that have bulit history and are backed by thousands of miners and nodes around the world. Best of all, I can buy metals with them! But, like metal miners, I am also putting investments into equipment, energy production, etc. And I can do it all from my homestead!
With crypto mining, you have to make sure that your power box and outlets can handle the power that most modern ASIC miners need to operate. These costs build up, so people like me are looking for the most efficient miners possible to make as much coin as we can, so in reality, there are similarities, I mean dealing with high voltage electricity has it's risks right along with digging in the dirt with heavy machinery. Plus I like the idea of building physical infrastructure that is needed to support these blockchains.
Rebuilding My Hive In The Process
I have been on Hive since Jan 2019, and I am not going anywhere, no matter how low my wallet gets, lol. I have been doing some powerdowns to help with the initial funding of some things around the farm, but that has stopped and it's time to build back my Hive power. I am going to primarily be using HP to delegate to the @leo.voter account to earn additional yield that I can use to help pay down my miner loans.
So to build this HP back up, I am going to have to get serious and get back to producing content! Some of the 'mining' will be in the form of Hive Power. Building it back up is going to be a priority for me in 2025 so that I can get back up to that dolphin status I was at before I had to actually start using my earnings in the real world.
How I Am Currently Funding The Project
Just like all of my crypto projects, this one is another self-funded project. What I have done is move a good bit of my holdings into Aave on Polygon and put them up as supply to earn interest and using it as a collateralized credit line. I have loaned against my coins to buy the first miner and solar setup to get it going. I will be paying off this loan with trading profits, HBD rewards, and Hive-Engine witness rewards, primarily.
Anything crypto I earn from my consulting, sales, or BTC purchases all go into the collateral supply to increase the debt ceiling, and my holdings. So once I have enough credit available, I will loan again and buy the next mining setup. I am also putting in cash earnings I get from trading options for my family hedge fund. I was getting paid in crypto for that, but we switched to cash because Robinhood started acting a fool about us making crypto withdrawals thinking we were getting scammed. So I will add some of that to my Cash App account, buy some BTC, and swap it to WBTC on Polygon then add to the supply.
Putting it all together
So together will all my cash, crypto, and metal activities I have planned, this will just help me further get myself out of the banking system and free myself from the clutches of the modern day slave owners. So, I am focused now, more than ever, on building infrastructure to not only support these blockchains and earn fresh, KYC free coins, but also using them with businesses that embrace the movement of using crypto in commerce. These businesses just happen to be selling silver and gold bullion!
So with buying miners that can be efficiently used on off-grid solar power, I am just moving myself further into the direction of full financial freedom away from the evil, corrupt banking system and tax thieves!
Anyway, until next time...
Be cool, be real, and always abide with your true you my dudes!
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