If we start including bitcoin miners in houses as amenities. - page 2.

Peter R

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Quote from: Malin Keshar on April 30, 2014, 10:59:04 AM

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.

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.

Malin Keshar

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Quote from: Peter R on April 30, 2014, 10:25:52 AM

Quote from: hellscabane on April 30, 2014, 10:10:51 AM

Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

True, and as you say, the electricity draw is only equivalent (well, for the most part) to a space heater in terms of "heating" up a space (in fact, I think a website did a study on this).

If there was a way of having multiple sources of heat through mining (having small miners embedded in different locations with fans circulating the heat, or some sort of schematic like that), and the system's electricity draw is at (or just marginally more) than the electricity draw of one of those houses with the more efficient electric heating systems, that'd be awesome.

I think we will see bitcoin miners used as heaters moving forward in time. It all comes down to how one can heat his home most cost-effectively.

The majority of apartment buildings and even many smaller houses in my area use electric baseboard heaters. These devices perform the following conversion:

1 kW of electrical power -> 1 kW of heat.

Imagine making a new device that instead performs this conversion:

1 kW of electrical power -> 1 kW of heat + X bitcoins / day

Which device would a rational economic actor choose to heat your home? The answer is that he would choose the bitcoin heater if the extra cost he pays overtop of the price of the simple heater is less than the revenue he expects to earn from mining.

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.

I think only people already prone to buy miners would consider using then also as heaters

Peter R

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Quote from: hellscabane on April 30, 2014, 10:10:51 AM

Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

True, and as you say, the electricity draw is only equivalent (well, for the most part) to a space heater in terms of "heating" up a space (in fact, I think a website did a study on this).

If there was a way of having multiple sources of heat through mining (having small miners embedded in different locations with fans circulating the heat, or some sort of schematic like that), and the system's electricity draw is at (or just marginally more) than the electricity draw of one of those houses with the more efficient electric heating systems, that'd be awesome.

I think we will see bitcoin miners used as heaters moving forward in time. It all comes down to how one can heat his home most cost-effectively.

The majority of apartment buildings and even many smaller houses in my area use electric baseboard heaters. These devices perform the following conversion:

1 kW of electrical power -> 1 kW of heat.

Imagine making a new device that instead performs this conversion:

1 kW of electrical power -> 1 kW of heat + X bitcoins / day

Which device would a rational economic actor choose to heat your home? The answer is that he would choose the bitcoin heater if the extra cost he pays overtop of the price of the simple heater is less than the revenue he expects to earn from mining.

hellscabane

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Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

True, and as you say, the electricity draw is only equivalent (well, for the most part) to a space heater in terms of "heating" up a space (in fact, I think a website did a study on this).

If there was a way of having multiple sources of heat through mining (having small miners embedded in different locations with fans circulating the heat, or some sort of schematic like that), and the system's electricity draw is at (or just marginally more) than the electricity draw of one of those houses with the more efficient electric heating systems, that'd be awesome.

poordeveloper

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₿₿₿₿₿₿₿

Quote from: Dannie on April 30, 2014, 12:25:22 AM

Quote from: skooter on April 29, 2014, 10:57:21 PM

Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

Yeah, except the wiring used in an electric heater are a hell of a lot cheaper then making a bunch of ASIC chips.

But your electric heater doesn't look as cool as a miner, right? Grin

Not sure it's worth it though

Dannie

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Quote from: skooter on April 29, 2014, 10:57:21 PM

Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

Yeah, except the wiring used in an electric heater are a hell of a lot cheaper then making a bunch of ASIC chips.

But your electric heater doesn't look as cool as a miner, right? Grin

counter

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Time is on our side, yes it is!

I just heard they are upping the price of electricity so we better get a move on this before they make the rates to high to even mine.

skooter

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Quote from: DeathAndTaxes on April 29, 2014, 10:26:37 PM

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

Yeah, except the wiring used in an electric heater are a hell of a lot cheaper then making a bunch of ASIC chips.

DeathAndTaxes

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Gerald Davis

Miners use no more electricity than an electric heater. 100% of the electrical energy "used" by the miner is converted to thermal energy (heat). Of course in most places there are more cost effective methods of heating a house such as natural gas furnace, propane, or heat pump.

hellscabane

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Quote from: Soros Shorts on April 29, 2014, 07:44:01 PM

Hopefully in the near future when mining has become marginally profitable then 20nm hashing chips would be commodity hardware that you can buy in bulk on DigiKey. You can then build your house with electric heaters that hash. You probably won't make a profit but you'd help guaranteed that mining remains decentralized.

Heck, why not right? I mean if there was a way to turn mining units in to heating systems that use up just marginally more electricity than normal heaters, that'd be pretty neat. That'd create a very interesting paradigm wouldn't it?

[Then again, I could just be talking crazy...]

Soros Shorts

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Hopefully in the near future when mining has become marginally profitable then 20nm hashing chips would be commodity hardware that you can buy in bulk on DigiKey. You can then build your house with electric heaters that hash. You probably won't make a profit but you'd help guaranteed that mining remains decentralized.

Malin Keshar

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hardware gets obsolete easily, and mining gets less and less profitable every day.

But might be a good think to keep in your house warm if you live in Siberia or in the North Pole

durrrr

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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 lol seriously this is redicuous

Bitcoin Magazine

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then no one will have to work

edit: holy shit money is free!!

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