51–54 of 54 posts
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You don't need to mine in order to use Bitcoin. Mining is a business, many businesses are capital intensive.
I never said you need to mine, but wealthy people who can afford ASIC miners and the energy they require have a much easier time acquiring BTC.
Indonesia mainly runs on thermal power, it is kind of sad that those crypto currencies indirectly encourage making profits out of cheap labor and the planet itself. source wikipedia: http://en.m.wikipedia.org/wiki/List_of_power_stations_in_Ind...
Err... If Indonesia uses thermal power then using the electricity generated from it has little negative environmental impact. Additionally I'm unclear where anything is "making profits from cheap labor". The miner benefits from the low cost of living in Jakarta, but making that out to be a bad thing is like complaining that housing in Kansas isn't as expensive as New York.
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Also, it doesn't exclude the option of a day job + the $114 you get "for free" once you've set up the farm.
As far as I understood from the article, this thing is not set up and forget affair, it requires maintenance. I imagine if you leave it and some cooler breaks, it could very well cause a fire or melt down completely.
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It is wrong. The links you provide seem to be more accurate. I write software that deals with monitoring power (powerhouse dynamics). We have customers in a lot of states, and to estimate their costs they have to input the cost per/kWh. In the US power costs usually between 8-12 cents per kilowatt hour. There are extra costs if your commercial which can add 10-20%. We've found that power cost, especially commercial p…
I know in the Bay Area Commercial rates charged by PG&E are lower than Residential. Never understood why. Actually, our electricity in the SF Area is very expensive. I don't know why. One half of our power is from Dams. I think it's 1/2. Actually, I think they charge us so much is because they know we will pay. To all the Élon Musk fans, I wonder what your PG&E bill will be? While I'm on this subject--yea, I'm an ele…