211–220 of 250 posts
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Wow, this is actually amazing. In my country electric showers are really popular. They're literally just big resistances immersed in water. I wonder how long it'll take for them to put cryptocurrency miners in there.
My shower pays for itself :)
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It seems like an ideal way to use excess energy in grid-tied solar setups where the energy company is not incentivized to buy excess power. Or for non-grid tied solar when your batteries are full.
> It seems like an ideal way to use excess energy in grid-tied solar setups where the energy company is not incentivized to buy excess power. Or for non-grid tied solar when your batteries are full. The ideal way to use excess energy is to do almost anything else besides pointless proof-of-work computations (e.g some scientific distributed computing thing).
Looking at the picture, they are using really old bitcoin ASIC miners from 2017. A profitability calculator I found says this Antminer S9 can get $948/year of income in exchange for $1,371 worth of electricity. That's a loss of $422/year. Obviously it's not profitable to use anymore, unless you are literally stealing electricity like these guys.
Would be way more profitable if they figured out some way to re-sell what electricity they stole...
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> It seems like an ideal way to use excess energy in grid-tied solar setups where the energy company is not incentivized to buy excess power. Or for non-grid tied solar when your batteries are full. The ideal way to use excess energy is to do almost anything else besides pointless proof-of-work computations (e.g some scientific distributed computing thing).
PoW isn’t useless, in fact, the energy cost of PoW is proportional to its demand.
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But how much energy is used percentage wise for mining?
Technically a "perfect" miner would use zero energy (beyond microamps for driving the signal wires in the network cables), the heat comes from imperfect components that "waste" energy by turning it into heat. So the mining itself doesn't use any energy, it's just that instead of dumping power into a dumb coil of wire, you dump it into a smarter coil of wires and various components that produce some output (that happe…
Looking at the picture, they are using really old bitcoin ASIC miners from 2017. A profitability calculator I found says this Antminer S9 can get $948/year of income in exchange for $1,371 worth of electricity. That's a loss of $422/year. Obviously it's not profitable to use anymore, unless you are literally stealing electricity like these guys.
Free electricity is not a thing in your world?
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Unfortunately the laws of thermodynamics will get in the way. Cannabis farming uses electricity to build organic chemicals and outputs waste heat at 40°C; bitcoin mining uses electricity to solve equations and outputs waste heat at 40°C. There's not really any way to use the waste products of one as an input to the other.
A CPU/ASIC can be seen as an electrical heater with extra steps. So why not heat up your plants with your CPU. The energy flow is: power plant -> CPU -> greenhouse -> the atmosphere
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My mistake, I'm a moron. The math is just worse, because you'd have to cash out some of your FAKECOIN for electricity. I'll accept the downvotes with dignity!
You'd have to cash out all of your FAKECOIN for electricity and still be out $0.10, with no FAKECOIN left.
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I'm very curious how that can be better then an electrical heater. It has to be more inefficient as you are not spending energy on calculation but if you substitute it with selling your bitcoins you would need to compensate your co2
It's pretty brilliant actually. Case 1 electric space heaters blindly pass electricity through dumb wires. Case 2 instead of dumb wires you use ASICs. Case 2 is a win win that helps secure a decentralized monetary asset, get paid for it, and heat your home which you would have done anyway, all with the exact same carbon footprint (assuming you're expending equivalent amount of electricity to just heat your home as or…