Topic: Bitcoin wastes electricity? - No - Heat your home with mining - page 2. (Read 525 times)

The refrigerator has gotten more ENERGY EFFICIENT EVERY YEAR.
BTC wastes more power every year.

BTC pitiful onchain transaction capacity does not increase no matter how much power is wasted.
So where are your benefits?
BTC has no Benefits, hell it is not even making you poor btc cult members rich.
BTC literally has no value or purpose anymore, what so ever and is a parasite that has to be extracted and destroyed if Mankind is to survive.  

the refrigerator is on daily for 24 hours. it is not considered a waste because there are benefits that we get and we need to freeze food to keep it durable. similarly bitcoin mining is not a waste at all because it gives profit to miners.

as long as it brings benefits and produces then there is no waste in it.

because many other industries use much more electricity in the process of running the industry. even the branch company continues to grow. so the use of electricity is increasing. but people don't make fake news about the industry because people know that the industry itself is a business and is useful in producing products.

well so is bitcoin mining. if people know about the benefits of mining bitcoin then I think people won't talk bad about it and associate it with wasting electricity and the environment.
those who continue to lead public opinion to demonize bitcoin mining from one side. they are just envious people.

because if they really speak out for the sake of protecting the environment then they should also discuss more industries or factories that today continue to pollute the environment from their waste. and continues to absorb more electricity than bitcoin mining. in fact they only attack bitcoin and have absolutely no comment with other industries that are more wasteful of electricity.

As far as knowing my place, well FUCK YOU and your PoW Bitshitcoin .
Every and I mean every altcoin, outperforms your PoW Bitshitcoin , it is really sad your cult is so pathetic.

Mining pools operators do control the hashrate , that the dumb ass miners give them when joining their pool.
The operators determine if the block is released and what transactions are in the block if any.
Your btc developer are too lame , to even code in a limiter of % on the pools to keep security collusion attack potential low.
Just 3 colluding pool operators could 51% attack btc and your miners would be far too slow to switch to stop them.

It is sad , so many bitshitcoin PoW supporters are just complete and utter dumb-asses.
No worries, after this winter, the only thing I will have to hear from your cult ,
is oh how oh how did they ban bitshitcoin for wasting the world's energy.

Again, it's not wasting. And don't interpret it as if the miners are not paying for the energy they're consuming. You want an example of wasting a country's energy? It's when they spend billions on fuel alone for their fighter planes, drones, bombers, warships, tanks, etc just to kill innocent people. That's wasting. That's insanity.

Please don't compare algorand with Bitcoin. Know your place and compete with a fellow shitcoin.

Mining pools are pools. They're composed of different miners located all over the world which contribute to their hashrate. Mining pools don't own and control their hashrate. Anything suspicious and these contributors could immediately leave and join another pool.

So wasting the energy of a country is required to secure a transaction in PoW.

Please recognize that is utter insanity.

Algorand a PoS coins secures a transaction in 4 seconds and gives transaction finality.
Bitcoin one of the last remaining PoW coin requires the energy of a freakin country and even after 1 year , can't guarantee transaction finality.

Currently 3 mining pool operators control over 56% of btc hashrate, they can 51% attack btc any second they choose.
BTC PoW security is a ridiculous joke, depending on the good nature of 3 people and hoping those 3 are never compromised. 

  

This is only applicable for countries with cold type of climates.
What about the ASIAN and Equatorial regions. For them heat is too much to survive.
Yeah in cold countries heating through mining machine can be good idea, but 90% of people are afraid of wiring and shocks. So I won’t suggest to live a life in such a closed wiring and machinery place.
I know my way of think process is different from other people, but yes that’s the best what I thought of.

Bitcoin isn't really a waste of electricity because the energy that Bitcoin mining consumes secures the network. It's for transactions to be processed securely.

Now, if Bitcoin mining's heat is being recycled and used for something else, it is merely a bonus. It's another story but at least it somehow pacifies those who are too worried about the energy that Bitcoin mining uses.

That's indeed saving a good deal of energy. After all, the heat could otherwise just be released as a waste, unused. But now, it is being recycled for a number of uses. Not to mention that the source of the energy used for the mining itself could also be from recycled methane, excess electricity, or from some other green sources.

Can you please elaborate on what happens to that energy that is not turned into heat in an electric heater?
Because unless it is either magically sent back to the grid or it's used to electrocute everyone in the room it does break the first law of thermodynamics.

So do enlighten me on what happens to the "wasted energy" in a heater or elaborate on how you feed a system 2 kWh and you get out only 5 MJ or 3MJ and not 7.2.

Mining equipment is much more expensive than an electric heater, so if you're not running it 24/7, it would take a lot of time to break even with a simple electric heater, and by that time the ASIC would likely be obsolete and unprofitable to run, because its hashrate won't keep up with the network. There's probably very few cases where such system could work, maybe somewhere in the Arctic where you need to warm something all the time.

Repurposing Bitcoin mining heat can solve global energy crisis: Arcane

While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining, a report from Arcane reveals the market’s potential to transform the energy industry. 

source: https://cointelegraph.com/news/repurposing-bitcoin-mining-heat-can-solve-global-energy-crisis-arcane

what you might be forgetting. is those personal heaters people put near their beds or desks just to warm them up. are wasting 1kw but not heating a whole room. their aim is not to "cook metal" to 120^oc+. their aim is to just raise the temperature by only x^oc

those convector portable heaters that can warm a whole room use 2kw but they do not even try to produce 100^oc due to safety mechanisms added to down power/shut off/prevent heaters getting too hot

meaning they are not even approaching the limits of physics

for product safety and consumer safety. they are wasting that 1kw-2kw energy but not producing the maximum achievable heat out of that energy

(safety rules about not going above X^oc to prevent house fires)

its not a law of physics that asics are breaking.. its actually safety guidelines of max temp for products designated as personal heaters.

yep you will not see a personal heater heater run constantly at 120^oc
yet you will see an asic do that.

disclaimer dont sit near an asic. they get hot. and may also hurt your ears if you have not modified them to reduce noise

There would be argumentations in between if we do really make out some comparison about bitcoin mining and watching TV then people would always be finding out some con's out of it and making up some debate.

Its never been a waste of electricity and if we are really just tending to compare it on other machines out there then we can say that it wont really be that worth.Anything that ends up on being beneficial for you
would really be considered to be useful and wont be a waste plus we are the ones who do pay out electricity consumption then its none of our business on how
we are consuming it.

If someone is running a home miner, during the winter the heat generated can be used to heat the home and the cooling system of the miner can be switched off. This is a way to limit the spending on electricity running a heater. I don't know how effective this would be, and there is nothing as waste electricity. For some purpose the electricity is being used, and we don't know how good this gives the better result.

BOOM,
That was a great answer.  

Most probably; especially as mining seems to be more suitable on sunny places people can put on their solar panels.


Omg LOL!


It may work by actually heating water and send that through pipes, but that means more costs and more waste too.
Or as said, use the heat in a garden where the tomatoes may not mind the noise (although I've read in the past that flower prefer classical music). But that may need to be insulated too if it's near the civilization.


Exactly.

You can't optimize those mining heaters by avoiding the law of physics, end of story!
Heat pumps have always provided more energy than they consume because they work on a different principle, you can't have a bitcoin miner that cossumes 3kw produce more than the equivalent joules of heat.

Besides, unlike any other systems ASICs need to run 24h, you won't be shutting them during the day and putting them back at night when you're cold, and during the day you have to get rid of the excess heat, how you do that, by venting it out using more energy to get rid of unwanted heat, do I have to tell you the efficiency of it?

The truth right now is that miners use more energy to get rid of the heat compared to the heat that is actually used.


That's because the guy in the article was mining with a GPU, so...
I have a feeling that sometimes people want to talk about how they wish things would work not how really they do.

ASICs are terrible as a home companion, they produce so much noise it's like having an industrial vacuum near you, I actually have my headphones sometimes when I enter that room, the screeching noise is just not the thing you want to listen to for more than 5 minutes. Then you have their enemies, dust, and humidity, you can get rid of dust but humidity is a pain in the ass.
So unless you have a spare room with no neighbors to complain everything is close to impossible, and if you have that in your house, you have the problem of transferring the heat because it's quite hard to transfer heat via air tubes for ventilation and not to transfer noise also!

Of course, there are ways to mitigate those
- tune your mines to low, it will reduce the consumption and thus the need for ventilate the heat and the noise
- use the miners to direct the heat only to the room next to you, heating it and transferring then naturally the heat without the noise

https://bitcoinmagazine.com/business/how-to-heat-your-home-with-bitcoin-mining
I bet he spent more on that than his S9 will make in all its lifetime.

An s9 makes 1$ a day, so there it goes 3 months and a half with just replacing the fan.

I don't think it was about jokes, at least as far as I remember, and it was about the Russian city of Irkutsk, where two entrepreneurs designed a system that would mine BTC and at the same time produce thermal energy. Maybe there were some April Fool's jokes, but over the years I have read about several examples where such systems have proven to be effective, of course with the assumption of cheap electricity.

https://archive.curbed.com/2017/11/9/16619032/bitcoin-mining-heat-homes-siberia-russia

No they won't. It's a competitive market: if it's profitable, the hash rate will go up, more miners will be installed, and it will consume more electricity again.

There was an April Fools joke a few years back, to place servers in homes to get free heat.

Low temperature heat is quite useless for cooling. Using a miner only in cold months means you'll never earn back the hardware, and by the time summer is over, the hash rate went up so much your miner is worthless.

Besides that, more than 50% of the hash rate comes from renewable sources. Even if there was suddenly much less electricity provided for the ASICs, the network would continue working  (it'd harm, but it wouldn't kill it).

It really depends on a lot of things. The price of electricity, the price of bitcoin, the price of natural gas, the possible taxes on both the bitcoin and the natural gas, etc. Currently, it's even less profitable to mine bitcoin with this difficulty, so less incentive either.

Excellent. That's one refutation for the arguments against mining during the winter.

On the other hand I'm not sure if this can be extended to summertime mining, unless there are air conditioning systems which work with heat as an input ( I don't think that's logical).