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Starbucks in-store wifi provider in Buenos Aires uses CoinHive

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11–20 of 67 posts

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#11
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

It makes no economic sense at all.

Mining Bitcoin using CPUs is unprofitable. They're basically gaining cents worth of bitcoins using dollars worth of electricity. See https://bitcoin.stackexchange.com/questions/41276/in-the-asi...

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#12
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

Even if they did this in all Starbucks locations, I can't see it really making any money. Ten seconds on a laptop CPU rounds to zero. Coinhive has just never made any sense to me in practice. Maybe 5+ years ago, but not today. What a mismatch of effort and timing.

Coinhive seems pretty upfront with this though (to answer "Will this work on my site?":

"Technically yes, economically probably not. If you run a blog that gets 10 visits/day, the payout will be miniscule. For the captcha and shortlinks with a sensible hash goal (1024–16384) you'll need to have a whole lot of users to make this worthwhile."

I do like it as an accessibility friendly captcha system, though.

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#13
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

It makes no economic sense at all. Mining Bitcoin using CPUs is unprofitable. They're basically gaining cents worth of bitcoins using dollars worth of electricity. See https://bitcoin.stackexchange.com/questions/41276/in-the-asi...

Are they paying for that electricity?

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#14
post #8
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

I've wondered what the ROI would be for me to leave my home office computer mining bitcoin while I'm at work. I know the likelihood of me mining something is tiny, but so is the expected payout when I buy a lotto ticket. I spent about $20 / year on lotto tickets (basically whenever Powerball gets near a record jackpot). That same amount of money will keep my i5 ThinkPad running for a long time. Am I more likely to mi…

I am by no means an expert, but my understanding is that a personal computer isn't energy/heat efficient enough to make a profit from mining. It costs more in energy than you would make from the bitcoin. My friends who do some mining have told me the same.

You're competing with computers that are made exclusively for bitcoin and people who are heavily investing their time into it so it makes sense.

It would probably be fine just for trying the system out and seeing how it works before you invest though.

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#15
post #8
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

I've wondered what the ROI would be for me to leave my home office computer mining bitcoin while I'm at work. I know the likelihood of me mining something is tiny, but so is the expected payout when I buy a lotto ticket. I spent about $20 / year on lotto tickets (basically whenever Powerball gets near a record jackpot). That same amount of money will keep my i5 ThinkPad running for a long time. Am I more likely to mi…

[deleted]

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#16
post #8
post #2

Does anyone have an idea of the ROI on this? I'm thinking you'd need a massive number of 10 second to mine any meaningful number of BTC on consumer laptops.

I've wondered what the ROI would be for me to leave my home office computer mining bitcoin while I'm at work. I know the likelihood of me mining something is tiny, but so is the expected payout when I buy a lotto ticket. I spent about $20 / year on lotto tickets (basically whenever Powerball gets near a record jackpot). That same amount of money will keep my i5 ThinkPad running for a long time. Am I more likely to mi…

I don't think anyone mines for bitcoins by themselves anymore - they join a pool so you get a small guaranteed payout.

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#18
post #13

Earlier quoted context omitted.

It makes no economic sense at all. Mining Bitcoin using CPUs is unprofitable. They're basically gaining cents worth of bitcoins using dollars worth of electricity. See https://bitcoin.stackexchange.com/questions/41276/in-the-asi...

Are they paying for that electricity?

Sort of, I'm assuming a lot of people bring their chargers with them if they're using the WiFi at Starbucks

Re: Starbucks in-store wifi provider in Buenos Aires uses CoinHive

#20
post #5

The Coinhive script mines Monero: https://coinhive.com/ . It's been a while since JavaScript Bitcoin mining was feasible :)

The unwashed masses can't understand the difference between different coins, so you might as well call everything Bitcoin.
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