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Bitcoin Mining Heats Home For Free In Siberia (qz.com)
Quartz has published a video on YouTube about two entrepreneurs who have figured out how to heat their homes for free by mining bitcoin. The "miner" -- that is, the machine mining the bitcoins -- warms up liquid that is then transferred to the underfloor heating system. The cottage has two miners, which bring in about $430 per month from processing bitcoin transactions -- all while keeping the 20 square meter space warm.
... no longer pays for the electricity bill?
I guess they mean that the value of the bitcoins covers the electricity cost. They must have some pretty serious mining capacity to earn enough and produce a several kilowatts of heat.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
Ehh, maybe it is. I don't exactly go to eastern Europe to often, so I don't exactly know. But it seems like someone really isn't thinking this headline thorough and instead were just looking for headline.
Doubtful, but if you make enough money mining bitcoins to pay your for power bill, then your home heating is paying system for itself and therefore effectively free (outside of the initial capital cost, of course). I think that is what they were getting at.
I don't care if it's 90,000 hectares. That lake was not my doing.
Pretty much yes. "Mining" bitcoin means doing the cryptographic work necessary to verify transactions, and that work is automatically rewarded by the system by the generation of new bitcoins for those who do the work.
-Forrest Cameranesi, Geek of all Trades
"I am Sam. Sam I am. I do not like trolls, flames, or spam."
Ehh, maybe it is. I don't exactly go to eastern Europe to often, so I don't exactly know.
Didn't know Siberia had moved to Eastern Europe. I learn a lot on /.
1. Siberia is not in Eastern Europe.
2. There is profit to be made, in several ways. First, you no longer pay for heating, so you save that amount. Then, you make money out of generating cryptocurrency.
3. The guys in TFA have built a prototype and they want to make a business out of it - sell it to people as a heating device.
I keep one room in my home warm during the winter through cryptomining - and make a profit too.
...gis sdrawkcab (usually not responding to ACs; don't bother posting as AC)
The story offered no detail at all, really - but maybe you can speak to your setup with regards to these significant, unanswered questions:
- Are those rigs the *only* source of heat in your apartment and shop?
- If so, how warm do they keep those spaces during mid-winter?
- What was your mid-winter electricity bill before you did this, and what is it now?
- How much income per month are you getting from the bitcoin mining?
And, for a rather important comparison with the story... where do you live?
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It's "doing nothing" the same way the Secret Service is "doing nothing" when the President is out in public. It's busy making sure something underhanded isn't happening.
How is the Riemann zeta function like Trump rallies? Both have an endless number of trivial zeros.
So neither free as in beer nor free as in software, but free as in marketing.
Inheritance is the sincerest form of nepotism.
Maybe, it's just an estimate. My Leaf has a very efficient heat pump rated for 3kW, just for the cabin.
You didn't just compare the insulation of a car to house did you? The walls of my place have an insulation barrier close to 200mm thick, tripple pane glass, and I don't even live in Siberia.
According to https://digiconomist.net/bitco... it's now 228kWh per transaction and somewhere north of a megawatt to generate that $530/month gross profit. Should keep the pipes from freezing!
Of course not all of that energy is turned into heat, some goes into the blockchain entropy /s
You say 200mm thick like we're supposed to be impressed but really, it's only 0.0002km thick.
#DeleteFacebook
Well I did just compare 200mm to 0.8mm of sheet metal. That's like ... orders of magnitude man :-)
Yes, constantly. Almost every major bank reorders transactions so that the highest value transactions occur first and the opposite is true of deposits which are applied after charges. This maximizes the chance for an overdraft and before occupy wallstreet and the banking reforms by Elizabeth Warren it maximized the number of transactions they could charge an OD fee on. Sometimes this could allow for charging five OD fees even though only one transaction of less than $1 was actually made with insufficient available funds in the account. Also banks will algorithmically apply those fees up to 72hrs later, they will apply a historical analysis to the account and retroactively apply the fee at any point that does the most damage.
These things have less impact to those who can afford to maintain a notable buffer balance but for people living paycheck to paycheck
Also Wells Fargo has been busted in a pretty major way very recently. https://duckduckgo.com/?q=wells+fargo+accounts+scandal&atb=v72-3__&ia=news