Topic: If we start including bitcoin miners in houses as amenities. (Read 1404 times)
Will one day end
mining gold is now for the people that can afford excavators
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
You have a valid point, there is no way to ensure what pool you'll be mining for. Once again, at the bare minimum, it's only advantageous if the cost of a miner would in the long run cost less than the cost of a heater and electricity.
I just hope that the diff doesn't become so high that all current miners become obsolete quickly. Sadly I think that's what will happen.
The difficulty has been increasing at a slower rate recently.
Amenities 
. Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance.
. Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance. Free heating! EXACTLY what i need
then no one will have to work
edit: holy shit money is free!!
edit: holy shit money is free!!
The difficulty will be so high that your "heater" can only generate very little bitcoin.
then no one will have to work
edit: holy shit money is free!!
edit: holy shit money is free!!
This would only work if it was powered by solar electricity etc. to offset dificulty and power costs.
Well kind of. It wouldn't be like free miner you would still have to mine several months till the miner pays off because let's say house costs $200000 with 3 TH/s miner which cost $10000. The miner isn't free Its price is included in the house total price. $200000 - $10000 = $190000. $190k is the real house price.
I wish! Then booooom the price
mining gold is now for the people that can afford excavators
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
True. It is a bit strange to me that many people wants to enter mining even when it is not profitable.
mining gold is now for the people that can afford excavators
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
mining bitcoin is now for the people that can afford asic farms
trying to say every household should have a rig just as futile as giving everyone a pickaxe. the reward will be dst amounts and due to the large uptake of silent mining in the background of all homes. the difficulty would be so high that peoples electricity bills will be something like $50 per day, with only 1c bitcoin reward per day
if people want bitcoin, they should BUY IT. much the same as gold. buying gold is much easier then mining it. infact if someone pickaxe mined gold for a month. they would yield less gold then just being employed and putting a months salary into gold.
basically, its cheaper to buy bitcoin then to waste time and labour mining it.
as for the worry of outside entities attacking bitcoin via 51% attacks. ..... its been 5 years with plenty of oppertunity to attack bitcoin when difficulty was much lower.. its past the point of being damaged from outsiders.
solo mining from a home will yield zero reward so each home would have to be linked together as a pool. there is actually more risk of a 51% attack by having households all mining. as their house would be attached to a corporate owned mining pool. much like your hous is attached to a corporate owned telephone company/electric company. thus the corporation will have the control. you honestly think corporations would build miners into your housewall and simply let you choose which pool?.. nope it would be fixed and only a few large corporations which sell leases to each other would be allowed to be picked. much like the hidden workings of telephone industry
What happens when bitcoin is all mined up? you paid an extra 30-40k for a house that now wont sell for more than 5 seriously this is ridiculous
Really true the idea is worst
Really true the idea is worst
Mining will always be needed. There will be transaction fees paid to miners, which by the final difficulty adjustment, will be higher than the mining reward.
You're high if you think computer chips that can process something can ever be made as cheap (or anywhere close to as cheap) as a bunch of resistors made to just to burn electricity.
You're stupid if you think that was the argument. Begone troll.
Amenities . Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance.
. Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance. no i mean ones in the furnace silly buns
Heater = simple resistor with some protection for people don't get toasted. Super simple and cheap to produce.
Mining ring = computers with lots of hard to produce, failure prone and expensive components, like gpus and ASICs.
Mining ring = computers with lots of hard to produce, failure prone and expensive components, like gpus and ASICs.
So you agree with me. If electrical "mining" heaters can't be made cheap, reliable and easy enough, then there would be no economic advantage to using one in place of a simple electric heater so then they won't be used.
Quote
I think only people already prone to buy miners would consider using then also as heaters
If the mining-heaters can be made cheap, reliable and simple such that using them saves money, then of course people would install them. Do you think the average person knows how a heat pump works?
It all comes down to what is most cost effective.
I have no interest in hand-waving debates about "what will be most cost effective in various scenarios at some distant point in the future" as we'll both likely be wrong.
You're high if you think computer chips that can process something can ever be made as cheap (or anywhere close to as cheap) as a bunch of resistors made to just to burn electricity.
Amenities . Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance.
. Do you thing owner is a crazy or stupid for installing hardware worth thousands. And what about other problems like electricity, heating, mentainance.
what if we made the amenities wireless and charged a monthly fee
Some people haven't been reading the difficulty graph.
mining gets less profitable every day. If all of us start including bitcoin miners in houses as amenities, it will not bring us any bitcoins at all!
They will be unprofitable investments indeed. I doubt it will ever be worth it to do this.
mining gets less profitable every day. If all of us start including bitcoin miners in houses as amenities, it will not bring us any bitcoins at all!
Heater = simple resistor with some protection for people don't get toasted. Super simple and cheap to produce.
Mining ring = computers with lots of hard to produce, failure prone and expensive components, like gpus and ASICs.
Mining ring = computers with lots of hard to produce, failure prone and expensive components, like gpus and ASICs.
So you agree with me. If electrical "mining" heaters can't be made cheap, reliable and easy enough, then there would be no economic advantage to using one in place of a simple electric heater so then they won't be used.
Quote
I think only people already prone to buy miners would consider using then also as heaters
If the mining-heaters can be made cheap, reliable and simple such that using them saves money, then of course people would install them. Do you think the average person knows how a heat pump works?
It all comes down to what is most cost effective.
I have no interest in hand-waving debates about "what will be most cost effective in various scenarios at some distant point in the future" as we'll both likely be wrong.
In any case, it'll be cool to have the option for a bitcoin mining heating solution in the future.
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