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Looks like it's more profitable than altcoin mining!

Yes, but what is the break-even point, considering that each phone costs at least $50?

I think they would aim for $10-$15 per unit.

These buyers probably set a price floor for the lowest end of the market, between barely usable and the shredder.

They probably get some bulk deals from recyclers for the Grade D units.

Might even be able to make some Grade A or B units for resale if they have lots of parts.

Doubt they use new phones, used can be gotten a lot cheaper

And used with broken screens are cheaper yet.