Topic: Tesla Competitor to Launch First Electric Car That Mines Bitcoin and Dogecoin (Read 265 times)
June 02, 2021, 11:34:33 AM
I think those competitors should focus on providing better features on their cars instead of doing this. What a waste of energy. Just yesterday Lisa Su stated that the new Tesla will use AMD RDNA2 GPU for their entertainment activity, which is way more useful than this gimmick mining feature imo. If anyone is interested in mining, they'd buy a mining rig instead of a car.
June 02, 2021, 10:57:26 AM
I stumbled upon this news couple of weeks back. While it's ok for a marketing gimmick and may appeal to some crypto miners in this process, but is it really practical? Electric cars are already under heavy fire from the consumers due to its short range and limited usability. Now if an electric car start mining while parked, it will drain out the battery and reduce the range even further.
For a marketing gimmick it's ok but not practical, I must say!
I agree with you. While to some it may sound exciting, in actual fact, having electric cars which of course use electricity to mine is no solution to the rising problem of energy consumption on the back of crypto. Even if you do mine, the battery of the car will get damaged and who'll want to do that.For a marketing gimmick it's ok but not practical, I must say!
I think this is another example of how people are putting together 'words' which they think sound cool but have no practicality whatsoever.
June 02, 2021, 10:38:23 AM
I'm glad to hear that, because Tesla doesn't just need 1 or 2 competitors to participate in Bitcoin mining. actually I expected more than that, hopefully not just electric cars from Canada. Well-known car brands that have existed until now also have to compete. because then Tesla will think harder about how to be at the forefront.
As we know, when Tesla is mining with DogeCoin, price is being played with, so to teach the CEO a lesson, tougher competitors will have to jump in to prove that Tesla is not the only one who can mine Bitcoin or Doge. Otherwise, electric cars across the country will be a formidable competitor.
As we know, when Tesla is mining with DogeCoin, price is being played with, so to teach the CEO a lesson, tougher competitors will have to jump in to prove that Tesla is not the only one who can mine Bitcoin or Doge. Otherwise, electric cars across the country will be a formidable competitor.
June 02, 2021, 10:37:18 AM
Mining in electric cars makes sense, yes,
It makes zero sense! It makes as much sense as cooking hamburgers in a gas car!
Terrible idea. You can implement something like this with existing cars, that should not be a feature which entices people. Think about it, if you have an EV, you're going to want to eliminate any frivolous energy consumption which reduces both the range and the lifespan of your battery. Why would you need to include something like this in a car???
Yeah, it would make more sense on a gas car to recoup energy and use it as hybrids do rather than outright consuming precious battery power and cycles. The whole thing is one pile of BS!
Quote
With Nebula Miner, mine Bitcoin, Ethereum, Doge, and more, while your car is plugged in, wireless charging, or parked. As every other car is depreciating while it sits in the garage, the Daymak Spiritus will make you money. Access the Nebula Miner UI right from the cockpit of your Spiritus.
Hmm, let's see what more, maybe Chia, Storj, and Helium and Bat!
The sheer stupidity of them not making a clear distinction between those algorithms make some thinks it's either
a) a scam!
b) a publicity stunt that is an outright lie and when you finally get the car it has a 1050ti than mines 5$ a month or some refurbished S3.
Granted the car doesn't have to come with the mining power of an S19pro, you can simply downsize the same miner by limiting chips number and make it a 100W miner, but that would hardly mean something when you're paying $149,000 for a car that's not even a car!
It's a damn trike like the one electrameccanica is selling.
June 02, 2021, 10:16:13 AM
At first these are only rumours and no actual proof is presented with any legal filing of documents so we can't say this will happen in reality or not.Secondly if you put all your electric power to mine Bitcoin of your lithium ion batteries the car life span is not more and you need to charge your car more than required and change them at regular intervals.Bitcoin mining difficulty has increased over time and current target is in trillion for which you need to put up ASIC machines on a pool for Mining bitcoin and we are talking about setting them up in an EV? Not an nice idea because it will heaten upto large extent and make extravagant sound in parking which might disturb some others and moreover your profitability will not be more than cost of managing.The car price will be too high and cost will not be recovered over time as next halving is scheduled in 2024.So better it's a dream.
June 02, 2021, 10:00:49 AM
Interesting. But is he stupid or what? Does he even know how much power it takes yet to mine crypto? Why put that processing power into a car? Samsung or LG did it with appliances a long time ago and it didn't work. Maybe with monero or something else, staking for sure, but why Bitcoin which needs very costly POW hardware?
June 02, 2021, 09:26:42 AM
Canadian electric vehicle maker Daymak has announced that Spiritus, the company's futuristic car that has not yet been launched, will be able to mine Bitcoin and Dogecoin while parked.
It does not make any logical sense other than wasting and it just looks like a publicity stunt rather than anything meaningful. The company is yet to release a car and hence we have no idea whether we can mine anything useful using these power. I do not even see Daymak Spiritus as a competitor to Tesla until they start producing the results and the cars Tesla have are incredibly astonishing and if they can compete with the results then we can call them a competitor.
June 02, 2021, 08:30:04 AM
I stumbled upon this news couple of weeks back. While it's ok for a marketing gimmick and may appeal to some crypto miners in this process, but is it really practical? Electric cars are already under heavy fire from the consumers due to its short range and limited usability. Now if an electric car start mining while parked, it will drain out the battery and reduce the range even further.
For a marketing gimmick it's ok but not practical, I must say!
For a marketing gimmick it's ok but not practical, I must say!
June 02, 2021, 08:15:42 AM
Canadian electric vehicle maker Daymak has announced that Spiritus, the company's futuristic car that has not yet been launched, will be able to mine Bitcoin and Dogecoin while parked.
The idea is really entertaining and I'm not sure if it really works. I don't know why but it finds it too hard to buy such a brilliant idea and to believe that it hits the market, well, we never know. a lot of people wanted to gain some attraction and give such promising ideas and talks but somehow, it comes to no results.
The people had already experience things like this and they are now learning those events that is why it is really to believe if we can never see it works and proven.
"To SEE is to BELIEVE".
June 02, 2021, 08:14:09 AM
Tesla just hitch a ride on Bitcoin because Bitcoin current performance is soaring. so that the moment was used by Elon to attract many crypto fans including Bitcoin who were interested in Tesla. the proof is after Tesla used Elon as if throwing away the price of Bitcoin without looking at the people around him.
June 02, 2021, 08:03:49 AM
They are using Coinbase commerce to accept payment in Bitcoin and other coins, but they have the same buying model like Tesla pre-ordering with various packages starting from $100 deposits.
Full price of their Spiritus electric car is around $19,000 that is much cheaper than Tesla, and $149,000 for Spiritus Ultimate, but this mining operation while car is parked is not explained at all and it looks like a shady marketing trick made to collect more money from cryptocurrencies.
Look at this statements claiming that cars will have installed GPU graphic cards, so just imagine how many GPU cards can you put in that small car and how many of them you need to really mine Bitcoin,
not to mention they also sell personal flying vehicles called Skyrider for $250,000
This reminds me on one South American mobile phone company that promised mining with their new magical smartphones, and they also advertised in bitcointalk forum last year I think.
Full price of their Spiritus electric car is around $19,000 that is much cheaper than Tesla, and $149,000 for Spiritus Ultimate, but this mining operation while car is parked is not explained at all and it looks like a shady marketing trick made to collect more money from cryptocurrencies.
Look at this statements claiming that cars will have installed GPU graphic cards, so just imagine how many GPU cards can you put in that small car and how many of them you need to really mine Bitcoin,
not to mention they also sell personal flying vehicles called Skyrider for $250,000
Quote
With Nebula Miner, mine Bitcoin, Ethereum, Doge, and more, while your car is plugged in, wireless charging, or parked. As every other car is depreciating while it sits in the garage, the Daymak Spiritus will make you money. Access the Nebula Miner UI right from the cockpit of your Spiritus.
Nebula Miner – make money while you are parked. Spiritus cars will come standard with an industry-leading GPU in mining price-to-profit. Whenever the vehicle is parked on top of the Daymak Ondata wireless charging pad, or parked and trickle-solar-charging, or plugged-in, Daymak Spiritus is guaranteed to be making its owner money.
https://daymakavvenire.com/nebula/Nebula Miner – make money while you are parked. Spiritus cars will come standard with an industry-leading GPU in mining price-to-profit. Whenever the vehicle is parked on top of the Daymak Ondata wireless charging pad, or parked and trickle-solar-charging, or plugged-in, Daymak Spiritus is guaranteed to be making its owner money.
This reminds me on one South American mobile phone company that promised mining with their new magical smartphones, and they also advertised in bitcointalk forum last year I think.
June 02, 2021, 08:01:02 AM
I'm not sure how hard dogecoin mining is, so maybe mining is with a parked car is a viable idea, but I don't see how this can work out with Bitcoin since contemporary Bitcoin mining normally requires professional equipment and maintenance (like the cooling devices). Moreover, I don't think the charging stations will be thrilled with their electricity bills if cars don't just recharge but also suck out a lot of energy for mining. Or will the car owners pay for it themselves? In that case, I think they'll be shocked with the bills 
It's an interesting idea, but can it really be implemented?
It's an interesting idea, but can it really be implemented?
June 02, 2021, 07:55:12 AM
This sounds pretty cool. But you know what, I will not believe this concept until it happen.This can still be another Elon Musk who will later withdraw his statement when market has gone in his favour.
Any person who wants to win competition will try to do something relating to Cryptocurrencies so that he will have enough fans to move his project. We are becoming wise. So, we need to watch him very well before we fall in.
Any person who wants to win competition will try to do something relating to Cryptocurrencies so that he will have enough fans to move his project. We are becoming wise. So, we need to watch him very well before we fall in.
June 02, 2021, 07:30:57 AM
A car that can mine BTC, that's pretty much an investment itself. This could be a car that prices wouldn't depreciate faster than Tesla. But why are they announcing so soon when it will still be released in 2023. By that time there will be some other manufacturer that will already compete with this and maybe even tesla will also get into this kind of innovation.
June 02, 2021, 07:28:21 AM
An electric car just like Tesla but can also mine Bitcoin and Dogecoin, great! This car might become the costliest car in the electric car segment. Until I see the actual car I won't believe in the concept. There have been many competitors of Tesla in the past but none of them has been on road.
I also can't believe what I'm reading right now and I don't wanna know how it works because it is more complicated but more or less, this kind of news is good for the market and that's all it matters for me since with this kind of development will not die suddenly like the other project we know. especially this came from some big-time competitors. I think this is the first-ever biggest development when it comes to mining cryptocurrencies. this will become popular if they really want what they've promised.
June 02, 2021, 06:40:39 AM
This idea seems to me to be the kind of thing that uses bitcoin to gain attention, because I doubt people will make a profit mining with this car, and because it just chose bitcoin and dogecoin? Is it because he knows that bitcoin and dogecoin are the cryptocurrencies that elon musk keeps tweeting about them? and from what I see people who buy this type of car will not be buying to make money from mining and I doubt they will be able to mine a significant amount... it's an idea just to gain attention. the part that made me more skeptical was that they are talking about something that can only be 100% on the market in 2023, by 2023 a lot will happen and change, they shouldn't have made this announcement too soon
June 02, 2021, 06:37:11 AM
Mining in electric cars makes sense, yes, but I don't know how much potential it can have. Even graphics cards made for this job can give limited performance. Making money just by traveling sounds good.
June 02, 2021, 06:28:01 AM
An electric car that mines cryptocurrency?This sounds like a strange idea to me.
Perhaps this is a scam crowdfunding project,which targets cryptocurrency users,who were butthurt by the fact,that Elon Musk dumped Bitcoin.There are several concerns about this project.
1.Raising 350 million USD in funding seems pretty ambitious.Will the investors get their money back,if the funding goal isn't reached?
2.Does this guy (Aldo Baiocchi) know how cryptocurrencies like Bitcoin are mined and what amount of electricity is required?
If this car really mines BTC,it would probably mine around 0.00001 BTC per month,which is totally not worth it.
Perhaps this is a scam crowdfunding project,which targets cryptocurrency users,who were butthurt by the fact,that Elon Musk dumped Bitcoin.There are several concerns about this project.
1.Raising 350 million USD in funding seems pretty ambitious.Will the investors get their money back,if the funding goal isn't reached?
2.Does this guy (Aldo Baiocchi) know how cryptocurrencies like Bitcoin are mined and what amount of electricity is required?
If this car really mines BTC,it would probably mine around 0.00001 BTC per month,which is totally not worth it.
June 02, 2021, 06:24:56 AM
Canadian electric vehicle maker Daymak has announced that Spiritus, the company's futuristic car that has not yet been launched, will be able to mine Bitcoin and Dogecoin while parked.
The 20-year-old also says it accepts pre-order payments in several cryptocurrencies, including Cardano. The investment financing campaign for this car, which started in March, was more than $ 350 million.
The cryptocurrency infrastructure awaiting Daymak registration will be integrated into the car's user interface.
The Daymak Spiritus, which has many features, in addition to being the first electric car to add cryptocurrency mining, also aims to become the world's fastest tricycle. Its first delivery is expected to begin in 2023.
Daymak co-founder Aldo Baiocchi says his company envisions a future secured by cryptography:
"We envision a future where your highway tolls, your parking, and your drive-thru order will be paid directly on the fly with crypto. Your online bills and your banking can be handled through the same software platform paid in crypto."
According to U. Today, Tesla CEO Elon Musk has recently shown interest in recycling the heat generated by extracting cryptocurrencies.
Last month, leading electronics maker Tesla suspended Bitcoin payments due to environmental concerns and met with public outcry.
Source: https://u.today/tesla-competitor-to-launch-first-electric-car-that-mines-bitcoin-and-dogecoin
Seriously ? so now we may see the slowly falling of Tesla against this new electric car?The 20-year-old also says it accepts pre-order payments in several cryptocurrencies, including Cardano. The investment financing campaign for this car, which started in March, was more than $ 350 million.
The cryptocurrency infrastructure awaiting Daymak registration will be integrated into the car's user interface.
The Daymak Spiritus, which has many features, in addition to being the first electric car to add cryptocurrency mining, also aims to become the world's fastest tricycle. Its first delivery is expected to begin in 2023.
Daymak co-founder Aldo Baiocchi says his company envisions a future secured by cryptography:
"We envision a future where your highway tolls, your parking, and your drive-thru order will be paid directly on the fly with crypto. Your online bills and your banking can be handled through the same software platform paid in crypto."
According to U. Today, Tesla CEO Elon Musk has recently shown interest in recycling the heat generated by extracting cryptocurrencies.
Last month, leading electronics maker Tesla suspended Bitcoin payments due to environmental concerns and met with public outcry.
Source: https://u.today/tesla-competitor-to-launch-first-electric-car-that-mines-bitcoin-and-dogecoin
I can't wait to see what Elon Musk's reaction on this one.
and considering about Dogecoin mining while using the car? then this will boost the value of the said coin also sooner?
Maybe i need to add my dogecoin folio now
June 02, 2021, 06:18:52 AM
Ok, we all know Crypto currency mining require a large amount of electricity.. so let's imagine this scenario. You charge your EV to 100% and you drive to work. In a parking bay, your EV starts to mine some Crypto currency and the battery are drained. Now you have to recharge your car again, before you can drive back to your home. 
It is fine if this Crypto currency is based on some PoS coin, because it consumes much less energy.... but then you have to lock up 1000's of Dollars worth of Crypto to allow you to mine these coins.
Also, most batteries only have a few thousand cycles to recharge the battery and when those are done, you have to replace the batteries.. which will absorb most of the profits that you might have received whilst mining with them.
It is fine if this Crypto currency is based on some PoS coin, because it consumes much less energy.... but then you have to lock up 1000's of Dollars worth of Crypto to allow you to mine these coins.
Also, most batteries only have a few thousand cycles to recharge the battery and when those are done, you have to replace the batteries.. which will absorb most of the profits that you might have received whilst mining with them.
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