Employing digital workers
As every employer knows there is tremendous potential in human capital; businesses are built on the collective spirit and work of individuals harnessing their thoughts and efforts to achieve common goals. Apple Computers was not built by just one man, as Steve Jobs acknowledged, Elon Musk always recognises his brilliant engineers and the tenacity of the Tesla and Space X teams. One man alone cannot do it all; entrepreneurs need staff and support.
That is where the friction starts. Nowadays there are considerable risks in employing people. In some countries the entire industrial base is influenced by the employment laws and regulations. In some countries it is a positive disadvantage to have more than 200 employees; costs spiral exponentially. In other countries, it is very difficult to hire and fire, employers are beset with red tape and regulatory hurdles.
All of this is elementally commendable. In a ‘woke’ world where the word ‘fair’ is a far reaching mantra we do not want to see employees, or those financially disadvantaged, oppressed or taken advantage of by the wealthy capital owners.
What can an employer do? We think one answer is immediately apparent. Do not employee humans. Yes, the cost is that you miss out on the indefatigable ingenuity of human capital, but there are colossal benefits.
Our digital miners, for example, work 365 days a year, 24 hours a day, they never complain, they never ask for days off, or change their mind about their working conditions, or demand ‘equal rights’, have issues of diversity, make allegations that are designed to extract some kind of financial penalty from an employer who would rather an easy life than the truth and justice are discovered.
How does the mathematics of a ‘miner’ add up. Currently, according to www.hashrateindex.com the cost of acquiring a ‘worker’, like an S17pro, is about $1,300. This worker will produce approximately $755 profit over 12 months using a Bitcoin mining calculator which takes account of mining pool fees at 2%, electricity at 0.59c per Kw/h and the hardware cost of $1,300.
When compared to a human miner the numbers are not the whole story. Human gold miners, according to Ziprecruiter, command salaries ranging from $17,450 to $362,953 (in parts of Alaska). Quite apart from this significant salary cost there will be many other employment costs and considerable risk for the employer. Only well capitalised firms could even consider hiring at the top end of this salary range, and they would ordinarily have the costs of a human resources department on top of any miner cost. It’s a fraught business being a mining employer.
There is no question in our minds that there are colossal advantages to having a digital team of workers rather than a team comprised of humans. Having lunch with a computer is not much fun, but hiring them to produce is fantastic, you get reliable and predictable results from tireless, non worrisome workers. It would be great to hear back from you on your own experiences on employing computers versus humans.
