Singaporean Reports Enlargening Hardware Request
Mr. Dexter Ng of Singaporean company Mining.sg has reported growing request for his company’s cryptocurrency mining hardware. Mr. Ng told Channel News Asia that “customers come ter and order 50 equipments on their own.”
It Has Bot Reported That Singaporean Request for Mining Hardware Is Enlargening
Mr. Ng’s business began when he and his friends began making powerful computers specifically built for cryptocurrency mining. The 29-year old stated they then “posted photos online, on Facebook, and people embarked asking how much is this and they dreamed [to] buy it…, So I sold it to people who queried on Facebook, and after a while, wij began selling many on Facebook, so wij determined to incorporate this company.”
Mr. Ng reports experiencing a latest unexpected spike te request for his company’s cryptocurrency mining equipments. Ter latest months, the company reports having sold approximately 100 equipments vanaf month – a significant increase from the 15 units that company sold te July of this year. Mr. Ng states that previously “probably one person only buys one or two. Now wij get customers who buy Ten, 20 or even 50.”
Mr. Ian Chan, a customer of Mining.sg, describes his initial trepidation when determining to invest te cryptocurrency mining hardware. “Calculating the percentage of comeback is one thing but what if this machine every day gives mij kwestie, where I need to debug or whatever. Then to mij, am I buying something that I need to work on every day? From that angle, if I commence with buying 20 units, then my problem multiplied 20 times. So I embark with one, attempt it out and if it is good, then I leisurely increase my investment te that.” Mr. Chan presently mines Zcash.
Mining.sg’s Mining Equipments Sell for From S$5000 ($3677 USD) to Overheen S6500 ($4780 USD)
Mr. Chan’s cryptocurrency mining equipment generates an income of approximately S$300 ($220 USD). Without factoring the electro-stimulation costs incurred by running the equipment, Mr. Chan predicts that he will pauze even on his investment ter approximately two years. Ryu, Mr. Chan’s 13-year-old son, possesses a mining equipment spil well.
Last month, the managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, told media that the MAS does not intend to regulate cryptocurrencies ter the near future, stating “as of now I see no voet for wanting to regulate cryptocurrencies.” Mr. Menon stated that the MAS intends to “look at the activities surrounding the cryptocurrency and asking ourselves what kinds of risks they pose, which risks would require a regulatory response, and then proceed from there,” adding that “very few jurisdictions regulate cryptocurrencies vanaf se. Most have taken the treatment that the currency itself does not pose the risk that warrants regulation.”
The following day, it wasgoed reported that numerous Singaporean financial institutions had closed the accounts of companies providing cryptocurrency payment services. The MAS addressed the account closures, stating that it does not interfere with the commercial decisions of banks, “including those te relation to the establishment and termination of business relationships.”
Do you think that mining request will proceed to grow despite the latest volatility ter the price of bitcoin? Share your thoughts ter the comments section below!
Pictures courtesy of Shutterstock
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