131–140 of 188 posts
How much are they paying for power?
For some reason, I never thought of this before, but electricity costs are included in my office lease. I should be mining all the time!
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>Obviously heat pumps are more efficient - that's kinda beside the point though. Only obvious if you know what a heat pump is! Plenty of people will hear "Electrical heating is 100% efficient" and interpret that to mean it's the ideal solution, when in a lot of cases it's just about the worst. But yes, if you have electrical heating, you could throw in some CPUs or ASICs instead and they'll work just as well. The ret…
> Whether it's money positive vs resistive heating Strictly speaking, isn't it just a special case of resistive heating?
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That "throwaway" computation ensures the integrity & correctness of the blockchain, all while confirming new transactions.
Funny you're getting down-voted. This is quite literally a true statement. Then the only point of contention is whether the benefit of this secure network existing and what it gives the world outweighs the cost of the resources consumed. I believe it is, by a large amount.
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But if you'd bought $6k worth of ethereum outright in march it would be worth $90k now. That's why I haven't started mining, it only seems profitable in a sideways market.
That has a different risk profile entirely. I could always resell the video cards I bought at near cost. Buying speculative coins is another matter entirely. Further, I'm not mining ETH - if I took your advice on the coin I am mining I would have a net LOSS not gain. You should take another look at the economics of mining, I think you have a few aspects misunderstood.
You sure about that? There are so many miners these days, if the mining market tanks, the used graphics card market will be flooded and prices will likely plummet.
Earning $430 for month by bitcoin mining. What about the electricity costs? If you factor in electricity costs and the money they spent on infrastructure(GPU's and high-end machines), it is a dumb idea. They could have spent $30-50 on heating equipment instead.
Electricity costs in Irkutsk (place where the place that the video is describing is located) are 0.7 RUR per 1 kWh for rural areas. That's about 1 cent per kWh. For comparison, California's lowest tariff in about 20c per kWh and if you are consuming a lot (which you'd do if you mine) you'll get over 35c/kWh. If you qualify for low income subsidy, though, you might get it for significantly cheaper :)
How much are they paying for power?
In Siberia power is paying for you! Seriously though in Irkutsk electricity is about 0.017usd per kilowatt/hour
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In Siberia power is paying for you! Seriously though in Irkutsk electricity is about 0.017usd per kilowatt/hour
How is it produced though? I'm guessing in large parts by fossil fuel.
Siberia has huge rivers which are very suitable for building hydroelectric because the accompanying flooding happens in mostly uninhabited areas and thus has relatively little costs.
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In Siberia power is paying for you! Seriously though in Irkutsk electricity is about 0.017usd per kilowatt/hour
For comparison, PG&E E1 baseline for California is currently $0.19979/kWh. As in, 12x more. God help you if you wander from baseline. https://www.pge.com/tariffs/tm2/pdf/ELEC_SCHEDS_E-1.pdf Even using a time-of-use plan like E6 (which they don't allow any more), off-peak is $0.16728/kWh in the summer, and peak summer is $0.35933/kWh. The ETOU-A and ETOU-B plans they're pushing people toward bottom out at $0.17279/kWh…
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That has a different risk profile entirely. I could always resell the video cards I bought at near cost. Buying speculative coins is another matter entirely. Further, I'm not mining ETH - if I took your advice on the coin I am mining I would have a net LOSS not gain. You should take another look at the economics of mining, I think you have a few aspects misunderstood.
I could always resell the video cards I bought at near cost You sure about that? There are so many miners these days, if the mining market tanks, the used graphics card market will be flooded and prices will likely plummet.
Can someone talk me out of using this to heat my apartment in San Francisco?