Bitcoin Mining With River Financial?

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In this video, I review River Financial's hosted Bitcoin mining setup.

Although I like River as a potential place to buy Bitcoin, I don't like the fact that River needs to collect personal information for its Bitcoin mining program. This defeats one of the main reasons to mine Bitcoin, which is to obtain non-KYC Bitcoin.

Unlike Bitcoin mining rigs, BTC itself never wears out or needs maintenance. BTC is an evergreen asset.

The other problem with using a hosted Bitcoin mining service like River is that you do not have custody of the mining rig itself. That's fine in times of peace, but in a time of war, your machine may be confiscated by the company itself or by a hostile government.

"Not your garage, not your ASIC."

I am a customer of River, but I am not being paid or compensated in any way by River for this video or any other video.

Not investment advice! Consult a financial advisor.

A Bitcoin Miner In Every House and Business:

Mining Bitcoin at River Financial:

Compass mining rigs confiscated by Russian government:

Gazprom mining Bitcoin:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#bitcoinmining
#River

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[Bitcoin_University]

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[BitcoinMoonShot]

Thank you for the great video Matt.

Just 2 more draw backs to having a company mine for you.

1. They can sell the same machine to multiple people. You don't know what machine is actually yours. Just because they give you a unique machine number doesn't mean your the only owner.

2. The life span of machines seems to be much shorter for machines owned by these companies. They are not incentivized to keep the machines clean and dust free. So that means maintenance is rarely done and lower life spans of machines.

Those issues were pointed out clearly in the last round of bankruptcies in the Bitcoin miners.

[tomasviane]

Definitely read the fine-print with these mining companies. They've been around for a very long time. About 6 years ago, they were pretty popular and people made a lot of videos with the cost/reward. They were probably different, because what you bought then was just Hash-power and not the machine. I don't think anybody broke even with their investment...
They also had this fine-print that they could stop mining at any time when it was no longer profitable for them and that also meant that your contract ended. So, during the bearmarket, they stopped mining and people lost their hashpower and money. WTF!

[gusgalvanini]

Glad you were finally able
To change the name to #Bitcoin university. Very good 👏 thanks for all your great content!

[johnnymidas]

MORNING 🌄 MATHEW.. ALWAYS A PLEASURE SIR.

[OfficialBloodsport]

I'm curious to know your thoughts about ledger and trezor using wasabi's coin join and supporting chain analysis. Also thoughts on other hardware wallets beside cold card? Passport, seed signer etc.?

[manfredvandoorn]

Another great video! Thanks Matt, for your relentless dedication.
You make the world a better place.

[wannaBtraceur]

Speaking of btc anonymity, did you hear about Trezor’s new coin join implementation, Matt? What are your thoughts there and the potential of future implementation as a function native to all hardware wallets? I also wonder if this would speed up gov crackdown on “unhosted” wallets.

[zeroxmagicSS]

Do it as an llc. Most everything is a tax writeoff

[randoroo]

I totally agree with you. River seems like they have something good going with the exchange. Companies branching out into mining as a service makes no long term sense to me. It's a distraction and seems like a business model doomed to fail longer term

[rafaljarmuszkiewicz]

Your videos are so good I always click 'like' before 'play'

[hf]

One thing you didn't touch on is Rivers hosting fees. I contacted them to see if their fees are separate from the total price of the ASIC (I assume it is). The big problem is its so large it eats like 80-95% of your possible net profit.

[minionkevin]

Question: How exposed is Strike, if the banks start to fail? Or the fed could go after the bank they operate out of right?

[Bomt]

Thanks for the video Matt. I don’t have the best grasp of mining, but one thing I don’t understand on the topic of people running mining rigs to heat their homes is that the only way this seems plausible is if they join mining pools. This may not be a problem today, but I do worry about the threat posed by mining pools if they do become so ubiquitous that average home owners are participating. An ideological miner may redirect their hash at the sign of a malicious pool, but bob joe and sally may just jump on the bandwagon and heat their home with this new movement. I do feel that mass adoption incurs many risks and threat vectors that we haven’t faced yet

[SatWise]

The Simply Bitcoin channel gave Matthew a shout out a few days back and pointed out the extensive Video collection here as an excellent resource for new Bitcoiners

[jeffu]

Hello from the Sunny Bradenton Florida Construction site, appreciate your daily content...Thanks

[anewcreature]

Matt, should we be concern with using trezor now, even if we don’t use their coinjoin?

[CorwinYoutube]

Another great video Matt. I really appreciate your work and what you do for our growing community of forward thinking folks. I love this Bitcoin community!

[STP]

Thank you, Matthew! I am always better informed after watching your videos!

[thestonemaster]

Bitcoin mining is a lot of hard work a lot of variables to weather energy equipment. But you do get pristine Bitcoin for sure.