Topic: Tesla Competitor to Launch First Electric Car That Mines Bitcoin and Dogecoin (Read 266 times)

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.

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.

I think this is another example of how people are putting together 'words' which they think sound cool but have no practicality whatsoever.

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.

It makes zero sense! It makes as much sense as cooking hamburgers in a gas 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!


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.

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.

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?

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.

 

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!

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".

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.

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  
https://daymakavvenire.com/nebula/

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.

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?

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.

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.

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.

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

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.

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.

Seriously ? so now we may see the slowly falling of Tesla against this new electric car?

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

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.  

I can only agree with others that it makes no sense to mine BTC (I'm not sure about Doge) with anything other than professional devices - and this concept with crypto mining cars is completely illogical to me from any aspect, except of course it can be used for promotional purposes. Any owner who tries to use this feature will surely give up spending his precious electricity on something that will not bring him any benefits.

Who knows whether Tesla will react and offer a similar option in its vehicles - or EM is not so stupid after all

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???

Your energy efficiency is going to be even worse than before. Just buy a miner and a car, you'll be better off that way. Trust me.

If Daymak delivers on their promise of the mining feature and if it is cheaper than the current Tesla model, I am sure that Daymak is going to be successful and if there is a way to invest in them, I am pretty sure that your initial investment will grow.

Some individual has already built something of that kind - US Man Installs Crypto Mining Rig in Hybrid BMW Sportscar.

In the first post it was mentioned that the car would mine crypto while parked. I think it will be correct to say while charging. First, it would be a silly situation when you come up to your car, and its battery is dead because it mining. Second, it will be unprofitable to mine that way. How much can a car mine during 8-10 hours of parking? Not much, compared to how much it would cost to replace battery.

But in general, mining with car sounds good for promotion and people definitely would like to try that.

Creative initiative and it reminds me about the merged mining. It is a far journey with many challenges along the way from idea to real products. Furthermore, from products to adoption by customers.

It is a good news to make the market getting hype but in this time when market participants are cautious with the next trend of BTC, the news will have little impacts.

Including dogecoin! Haha, I don't think Elon will like this a bit, dogecoin is for Elon and no competition there
Now this is interesting, a well deserving competition is gathering momentum in the electronic cars arena and to top it all, it mine btc unlike our good old Tesla whom I doubt can do neither,  this is great news,   just what the btc community needed.

The premise here is electricity is free. Sound's Italian, let's see already 0.30 $-KHW (europe), after resell to the 'charging-station' it will be $1-kwh, or more. Now Canada has cheap electricity, but not everywhere, but they already have plugs in the parking lots to keep you engine warm in the winter, so running a miner while parked, is not a new idea in Alaska, or Canada, or anywhere freezing cold in the winter. Hell the bitmain miner is a heater for the interior, besides being used  to commercially 'dry' cannabis in Canada.

There's a guy already doing this, has a whole rig (6+) RTX-3090's in his trunk, over a year ago, you can google / youtube it, I think this is a very old idea, probably as old as btc, given that you have to plug the bitch in when your not using it, I guess why not suck more power, can you imagine, say running a S19 (80THS) bitmain miner for BTC at 3,000-KWH, what the actual 'fueling' charge would be if you fact sucked the power to 'mine' btc, you know they charge more for power, cuz they can, and its how they make money, by reseller power as charging, via your credit card.

As always these types of articles say 'bitcoin' but by that they mean crypto, and most likely its a single toy GPU mining ETH Hell it would take a diesel generator to do 3,000KWH like you see on portable welding-trucks.

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 think this would have a High price since electric operated like tesla , If tesla gets much attention and support then why not this one that has a potential profiteering while being used?

not like Tesla that only beneficial to use, this one is also practically beneficial .



Yeah Maybe OP had got the wrong Link for some reason..



___________________________________________________________


OP Mind editing the Link to English translation for more relevant conversation? Thank you..


Edit: Already Edited , Thanks OP..

That's going to be one loud car while being in a parked state
^{- It's not going to be a significant earning but it's at least something new and hopefully, this isn't just a marketing strategy.}

I think this one should be the appropriate source instead: Link
^{- You can also find a bit more information from "this" link.}

Although this implementation seems attractive at first, it is not clear to me that they will not raise the price of cars precisely because of this. For a potential buyer, the fact that he can earn money while he has the car parked is an incentive but for the company that sells it, it is also an incentive to sell it more expensively.

Btw, the link appears to me in Arabic.

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