Loka Mining
@lokamining
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We're building primitives that unlocks Bitcoin native yield directly from the Bitcoin miners' future mining reward | TG: https://t.co/itndCdlwmp
Joined April 2022
"Once a hobby activity, now Bitcoin mining has turned into $12B/yr industry". Watch this 10 mins keynote presentation on Chain Fusion day in Nashville by our co-founder @TalkinAndy describing what problems we're solving and the solution we're building.
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Update: We just launched our Miner Dashboard (beta).- Bitcoin miners can withdraw their mining rewards daily without a minimum payout threshold in ckBTC.- Zero fee atomic swap to USDT (Arbitrum).- Fiat offramp to bank account & e-wallet (IDR)
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Introducing Loka. Currently, Bitcoin mining is controlled predominantly by centralized corporations or at least mining operations with deep pockets. One of the main reasons for this is that Bitcoin mining is capital-intensive in terms of the hardware needed and the recurring.
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And we'll have liquid BTC staking soon!.
liquid staking on the #ICP is THE hot topic rn. 4 projects and counting approaching this. what is your take on liquid staking for the #ICP ecosystem? good? bad?. @WaterNeuron @NeuronPool @StakedICP @theIDGEEK.
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GM folks,.This thread will explain what is Loka, the platform wer'e building. But first let's dive into the basics of the Bitcoin mining industry -- which from a business perspective, has the similarities with a typical factory business. 1/
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BTC miners can easily track mining reward distribution.and withdraw without minimum payout, directly to fiat, with zero fee!. we are building a value, that there will be zero reason for miners to not using Loka. Join our discord to know more
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Long thread but describes what we're doing!.
I/ .PoS chains like Ethereum enable their holders to stake their ETH to validators, earning yield. This ignites services like Lido, where holders can compound and use their ETH simultaneously via the Liquid Staking Token (LST) mechanism. How about Bitcoin?.
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delighted to serve BTC more and more miners!. our group of miners are keep growing : more hashrates, more BTC!.giving us feed backs and sharing their satisfaction in using Lokamining. inviting all small, medium, to institutional miners to join us at !.
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More and more miners are onboarding to Loka, transferring their hashrate!.Loka miners can withdraw without minimum payout. We are progressing towards our goal of BTC mining marketplace on top of our own decentralized mining pool. Join our discord for alphas
Update: We just launched our Miner Dashboard (beta).- Bitcoin miners can withdraw their mining rewards daily without a minimum payout threshold in ckBTC.- Zero fee atomic swap to USDT (Arbitrum).- Fiat offramp to bank account & e-wallet (IDR)
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If a protocol cannot explain where the yield coming from, then most likely you are the yield.
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Join the Bitcoin Halving celebration, ICP style! . Live from Dubai with ♾ @dfinity and Lokamining's @TalkinAndy .
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We need a fully decentralized --non KYCed -- community owned Bitcoin mining pool 😇.
The federal government wants to know the location and hashrate of every miner. As with firearms, registration enables confiscation. So: probably a good idea for US miners to relocate to red states, where property rights are more secure.
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we are cooking a tsunami of breakthrough under the quiet sea. Hashrates are increasing.dev are sprinting. See our adjusted docs.
@BobBodily @pahueg Yes still work on the website and stuffs but building under the hood. Check our about page here
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A condensed and succinct description of what we’re building!.
Deep Dive on Loka Mining & Decentralized Mining Pools. Loka Mining is an early @btcstartuplab company that is building a new kind of decentralized mining pool. tl;dr. 1. Buy and sell hashrate contracts (lock up BTC as collateral to sell future hashrate for cash now, like a.
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New color theme for our logo. Still with the same energy and values, but with more representation on bitcoin and tech color scheme. We also revamped our web theme. Loka DeFi coming soon, join our discord
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99% of cloud mining platforms are scams. The idea of cloud mining platform is making easy for anyone to invest in crypto mining activity. You don’t need to buy mining hardware, paying surge on your electricity bill, and deal with the complexity of managing the operation. 1/.
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Look who's on the map!.
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Tonight!.
Experience CHAIN FUSION LIVE with @lokamining. Discover Loka Mining, a decentralized #Bitcoin mining pool offering native yield for #BTC. 📅 Tomorrow @ 5:00 pm CET / 8:00 am PT. 👂Listen on X or YT here 👉
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Why do Bitcoin miners need mining pool?. A mining pool is like an insurance company for miners. Here's how it works:. Mining Bitcoin by yourself is a bit like playing the lottery. You try to solve hard puzzles to earn Bitcoin, but the chance of winning is really small, especially.
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👀.
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@lastmjs @VictorICPSquad Mining pool is a single centralized choke point in the ecosystem we are building. The challenge is not only technical but also on the scale of participation, to be able to distribute mining reward every day effectively, statistically a mining pool needs to have min ~0.7% total.
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For Indonesian miners, payout can be directly withdrawn to their bank accounts or any e-wallet in fiat IDR w/ zero fees. This is just a step closer for our vision: .Making Bitcoin DeFi & Mining Accessible for Everyone. Details on this release:.
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⛏️⛏️⛏️.
$ICP friends, someone is building a Bitcoin Mining Pool on our network, let's keep an eye on this. BULLISH!
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Simplified, from solely business perspective; bitcoin mining business profitability depends on 4 variables:. - BTC price.- Operating Cost.- Hardware.- Electricity price. The cheaper the energy cost; the bigger moat u get. Our cost is less than 4 cents/kWH. How much is yours?
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Get More Bitcoin, Spend Less Dollar! . ✅Bitcoin Mining powered by one of the world's cheapest electricity from green and renewable energy . ✅Start as low as $100 with fractionalized mining. ✅Sit back, relax, and daily BTC rewards await you from our mining farm!.
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Smaller miners (less than 20 ASIC machines) often have to wait for days or weeks to receive their mining rewards, since mining pool has minimum threshold for payout (usually 0.005 BTC). By using Loka, now they can get daily payout no matter how small their hashrate is.
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No need to FOMO.Loka ☯️ is here, dont go loco. join our discord
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Transferring mining reward to exchange from L1 also requires high tx fees. Converting and withdrawing to fiat add another extra cost. Using ckBTC +optional atomic swap to USDT in Arbitrum using HTTPS outcalls, now miners can send their reward to exchange with almost zero fees.
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GM folks!.A bit quiet from our end since we're busy building 😰. Recently we post about Loka on IC forum, take a peek here:
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100% trusworthy.100% trustless on-chain platform.100% guarantee. Our mining contract is 🎆 guaranteed by BTC collateral on-chain🎆.non custodial with 1:1 value to eliminate centralized party risk. We understand that there are many ponzi schemes disguised as cloud mining platform
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We just finished our 3-days design sprint for the first alpha launch!
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Breakeven cost means that 8 cent /kWH is your max price you can afford to pay for electricity to mine bitcoin in profit. If you’re in the US, the cost is 2x more from your max. Even worse if you're in EU. Gone is the era of bitcoin mining at home 💸. 5/
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If miners on the Loka platform fail to deliver (the hashrate that produces) BTC to the buyer,. They'll be penalized by losing their Bitcoin. and this collateral will be released to the contract buyer to compensate for their investment. 6/
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@BobBodily @pahueg Yes still work on the website and stuffs but building under the hood. Check our about page here
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@Disruptives_Hub @dominic_w @dfinity @GraceSabandar @icircle_nft @CryptoEights @PATA_HQ @myFavourse @sekuyaofficial @JababekaandCo @CoinstoreExc @TalkinAndy Proud to be part of this great ecosystem!.
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@BtcRapha @mrwagmibtc @kinartan @TalkinAndy Yep, in a national reserve park, next to a hydro power plant.
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Indonesian climate is absolutely perfect for bitcoin mining. no such thing as extreme temperature change like summer and winter. the weather is much more stable than any stable coins. more consistent uptime = more sats!
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And all of these processes are happening on-chain and non-custodial, meaning that there are no centralized parties that hold the funds. We believe in and embrace how the Bitcoin ecosystem should work: . Don't trust, verify. FIN.
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High-end ASIC machine will cost you at least $4K. And even if you have money, we have the next big problem:. Your electricity bill will cost you more than the Bitcoin you get from mining. The breakeven cost for energy with current BTC price is $0.08 /kWH. 4/
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Well well well.
If you are an operator in the bitcoin mining industry in the US it is imperative that you ignore this survey and tell the EIA, the Department of Energy, and the current administration to fuck off. Here's what they have in store for you.
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@gizzycrypto Our mining pool already live for Bitcoin miners, and will launch the liqudity mining pool next month for public.
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@cakemakerone Starting from ckBTC, native yield from the fees of a decentralized, community-owned, fully onchain Bitcoin mining pool. How's that sounds?.
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. which creates a paradox of how Bitcoin network should be. This is where Loka comes in. We want to lower the barrier to mine bitcoin for everyone, by leveraging our geographical advantage to access cheap excess energy from renewable power plants. 7/.
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How does Loka work?. We connect excess power plants and smaller bitcoin mining operators to anyone in the world. - Mining operators can scale up their operations faster. - Power plants/energy providers can get their excess electricity absorbed & operate at an optimum level. 8/
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Basically, with some googling — in theory everyone can mine bitcoin:. 1. Buy ASIC hardware .2) Plug it in your power socket .3) Profit. jk it’s not that simple. Here’s the problem. 3/.
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@BtcRapha Yes. You don't need to trust us, you don't need to trust the miners, every actor in the ecosystem is being kept honest -- that's what trustless means!.
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Dont trust us. Trust the code.
100% trusworthy.100% trustless on-chain platform.100% guarantee. Our mining contract is 🎆 guaranteed by BTC collateral on-chain🎆.non custodial with 1:1 value to eliminate centralized party risk. We understand that there are many ponzi schemes disguised as cloud mining platform
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@BtcRapha For 1 month you're getting +4% more BTC compared to buying at market price with the same investment, 1 year contract will give you +40% more. This is calculated the current BTC price, and you can do easy simulation at different BTC prices in the future in our web app.
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. the main difference is that the product output doesn't require physical logistics to be distributed. A Bitcoin mining farm has two major components: CAPEX on mining hardware and installation, and OPEX on energy (electricity) price, manpower, maintenance etc. 2/.
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@BtcRapha The contract period starts with only 1 month up to 2 years with higher ROI for the longer period. Since the electricity cost is locked at a very low price, projected BTC yield has tremendous upside. Check the testnet app to simulate the returns.
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at current BTC price, Loka estimates to deliver annual 64% ROI by mining sats!. you can estimate your mining result at
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. but that's for another thread. For now, please check our current MVP at and read our docs at and follow @lokamining to get updates. We're launching soon. 11/.
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Tokenizing bitcoin mining contract as composable smart contract also unlocks whole different kind of possibilities for other protocols, such as:.- insurance against BTC price drop using option.- real yield provider.- self repaying loans using BTC as collateral. 10/.
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By fractionalizing mining operation & electricity cost and tokenize them as mining contract -- .we're lowering the barrier to anyone to participate in bitcoin mining (started from $100). Essentially you're acummulating freshly minted BTC at lower than market price 🥷. 9/
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Due to the nature of the industry, only large companies can be profitable. U know -- the ones that get special deals on H/W and energy price & operate at a massive scale. This led to a situation where more & more miners are centralized. 6/.
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POV : Bitcoin went to 69k and you only hold $100 in your investment budget
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The premise of Bitcoin cloud mining:. Put some money in and get BTC at a lower price than the market. Probably similar to what Loka is actually offering also:. But one of the biggest pushbacks against the idea of mining platforms is the centralized party risk. 2/
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And every legitimate cloud mining platform (yes, there are some, actually) is battling this situation with another centralized approach that screams:. "We're a legitimate company, we won't rug you.". Loka is taking another approach. 4/.
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And what's our moat?. Simplified, from solely business perspective; bitcoin mining business profitability depends on 4 variables: .- BTC price .- Operating Cost .- Hardware .- Electricity price . The cheaper the energy cost; the bigger moat u get. Our cost is less than 4
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@lastmjs @VictorICPSquad Mining pool is a single centralized choke point in the ecosystem we are building. The challenge is not only technical but also on the scale of participation, to be able to distribute mining reward every day effectively, statistically a mining pool needs to have min ~0.7% total.
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Mainstream media often report that Bitcoin are useless to the world on a macro scale and, in fact, accelerate environmental damage because they consume a large amount of energy in their transactions. But, what if the reality is actually the opposite?.
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A Trustless Non-Custodial Platform. Instead of making promises and repeatedly saying "trust us with your money," every mining contract will be collateralized at a 1:1 value by Bitcoin. What does it mean exactly?. 5/.
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Trusting your money to a company run by random people. Hoping that they will run their ASIC machines and deliver the Bitcoin as promised from the hashrate you purchased. And this is a valid concern, as there's a never-ending list of this type of scammers. 3/
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Yes, we're taking this part.
4. Solutions connected to Bitcoin’s unique PoW consensus mechanism:. • Distributed & edge device mining solutions.• Hashpower financial products.• Protocols and dApp solutions powering energy.efficiency and decarbonization in mining.
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Got some feedback from @btc_albert ."Hardware cost is higher on your farm?". Nope actually hardware cost is the same and operating cost is lower compared to average farm. Seems like our designer fatfingered the previous graph and made a mistake drawing h/w bigger on the left side
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do you know that Loka will feature an onchain referral mechanism?. In addition to earning sats from your mining contract, you can also earn % yield by referring others to Loka!. visit
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you can simulate our mining result on our website. 1. input your investment amount.2. choose mining duration.3. slide to simulate BTC price in the future (optional). super easy!.
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