Earlier quoted context omitted.
And you don't take into account the environmental cost.
But precisely as much as you don’t take into account the environmental cost of every other unit of electricity you use.
This is part of why we need a carbon tax
Mining Ethereum on M1 Mac GPU
41–50 of 129 posts
Re: Mining Ethereum on M1 Mac GPU
#42Earlier quoted context omitted.
Is electricity really that cheap in the USA? The cheapest price I've found for my city here in Germany is like 0,24 EUR. And this is already including a new customer discount and cashback. Not even guaranteed green energy... 0,24 EUR is currently ~0,29 USD. That's 0,29 USD for my cheapest price against your most expensive price with 0,20 USD.
Yes, Germany has very expensive energy because of their transition away from reliable energy sources onto renewables.
Are you implying that Germany's electric grid is unreliable?
If so, a citation would be good because my sources say Germany's electric supply has been stable.
Re: Mining Ethereum on M1 Mac GPU
#43Earlier quoted context omitted.
But precisely as much as you don’t take into account the environmental cost of every other unit of electricity you use.
This is part of why we need a carbon tax
Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.
Re: Mining Ethereum on M1 Mac GPU
#44> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…
Is electricity really that cheap in the USA? The cheapest price I've found for my city here in Germany is like 0,24 EUR. And this is already including a new customer discount and cashback. Not even guaranteed green energy... 0,24 EUR is currently ~0,29 USD. That's 0,29 USD for my cheapest price against your most expensive price with 0,20 USD.
We pay about $0.10 in British Columbia, Canada. There is a $0.20 daily base rate and over a certain amount it steps up to $0.14. It’s 95% hydro electric so it’s green too.
https://app.bchydro.com/accounts-billing/rates-energy-use/el...
Re: Mining Ethereum on M1 Mac GPU
#45Earlier quoted context omitted.
Yes, Germany has very expensive energy because of their transition away from reliable energy sources onto renewables.
Are you implying that Germany's electric grid is unreliable? If so, a citation would be good because my sources say Germany's electric supply has been stable.
Re: Mining Ethereum on M1 Mac GPU
#46Earlier quoted context omitted.
This is part of why we need a carbon tax
Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.
Does it really matter if the money is wasted, so long as it’s not wasted on something that generates more air pollution? The main purpose of a carbon tax is to stop polluters from externalising the cost of their pollution, so that they pollute less because it’s more cost effective not to. The extra revenue is just a bonus.
Re: Mining Ethereum on M1 Mac GPU
#47Quick, rough calculations suggest to me that the RTX 3080 is about what you need to turn a profit - based on 200k annual revenue you need 600k in hardware. Three years to pay itself off - about the lifetime of the hardware, my guess. That's if you could find the hardware - and I didn't include stuff like motherboard/rack/etc. If it's that hard to make a profit on the RTX 3080 then I doubt the M1 Mac Mini was ever in…
Maybe i'm misunderstanding you, but if a 3080 costs 700, and it makes $8 a day, with an electricity cost of $0.10/kWH or roughly $0.60 a day
(which is possible in many cities, and this can be improved by overclocking the memory and underclocking the core), it's making at least $200 a month. That's an ROI of three and a half months at worst, and then it can be flipped on the used market to nearly recoup that initial investment (or recoup more if supply issues are still a thing at the time).
Re: Mining Ethereum on M1 Mac GPU
#48Earlier quoted context omitted.
This is part of why we need a carbon tax
Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.
> Only problem with this is I can't figure out how to spend all the money generated by the tax.
It doesn't matter. Pay debt. Dig holes. Build bridges. Just rebate it to whoever on a per-capita or per-tax-paid basis. Literally do anything with it.
The point is to incentivize conservation, not to raise revenue. You could get the same thing with a regulatory carbon penalty too, but it's simplest to administer as a tax.
Re: Mining Ethereum on M1 Mac GPU
#49Earlier quoted context omitted.
Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.
Does it really matter if the money is wasted, so long as it’s not wasted on something that generates more air pollution? The main purpose of a carbon tax is to stop polluters from externalising the cost of their pollution, so that they pollute less because it’s more cost effective not to. The extra revenue is just a bonus.
The money will be used to wage war to protect the petro-dollar.
Re: Mining Ethereum on M1 Mac GPU
#50Earlier quoted context omitted.
This is part of why we need a carbon tax
Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.
Canada returns the carbon tax as a refund. The idea isn’t to take money into the coffers but to make wasteful services more expensive at the point of sale than efficient ones.