Pages:
Author

Topic: Tesla used to power cryptocurrency mining. - page 2. (Read 293 times)

staff
Activity: 3248
Merit: 4110
So no, there is nothing green about it and it's just one guy wasting tons of electricity because he affords to do so, as vapourminer said, a few of Tesla's clients got a free lifetime supercharger when they bought their car.
That's true at the moment, although that's why I said that in the future we might actually benefit from this sort of technology. Electricity can be generated via green energy, mining resources can't. Obviously, to be able to do it we'll need to use our existing resources. However, utilizing things like solar, and hydro plants could potentially increase the amount of green energy being used. The way the world is going, there's enough funding for this to become a reality.

Again, we aren't any where near it, and I do think the closer we get to it, the quicker this green energy buzz word will sort of die down. However, I do expect massive amounts of progress in terms of converting a lot of places to green energy.

Bitcoin, and other industries will benefit from that, and we shouldn't really be hostile to the idea. It's the best approach, it's just everything has been blown out of proportion, especially when it comes to the amount of energy Bitcoin uses in comparison to other industries.
legendary
Activity: 3122
Merit: 1389
Join the world-leading crypto sportsbook NOW!
It's a weird way to use a car, but it's only as green as the electricity that's used to charge up the car. Mining uses electricity, and the same goes for Tesla cars, so it's not really an improvement. Only if somehow the car is charged with electricity that comes from eco-friendly sources, whereas the electricity as home or a building dedicated to mining comes from sources with higher carbon footprint. I think the cunning part is that Tesla comes with free charging, so basically the electricity for mining might be free for these people, while in any other way they'd have to pay for it.
full member
Activity: 1820
Merit: 107
IMO, I think that was a good idea if that power source was coming from the green energy sources, like solar, wind, hydro, etc. If Im not mistaken Tesla has used a large-scale battery storage facility to power their network of battery charging stations, correct me if im wrong because im not sure about it.

But the important question is where that power generation comes from? If it was sourced from the GRID? is it from renewable energy sources or from the fossil fuels power generation facilities. it is not certain that's why it is not totally a green mining process.
legendary
Activity: 2828
Merit: 6108
Blackjack.fun
I don't know whether this is an old news or an recent incident. Today only I came across this and I find this a better way of green mining.

How is this green mining?
First, the source of energy comes from somewhere, if it's oil or gas it's definitely not green and if it somehow winds or hydro the station would get the same energy as your house 1 kilometer down the road, so you could simply mine at home.

Second, the waste
- you have to drive your car to the charging station, which means you're wasting electricity, not green
- charging wastes electricity as you fill the batteries, there is no 100% transfer of energy, a round number would be 10%, again not green

So no, there is nothing green about it and it's just one guy wasting tons of electricity because he affords to do so, as vapourminer said, a few of Tesla's clients got a free lifetime supercharger when they bought their car.

 
staff
Activity: 3248
Merit: 4110
Quite a nifty way of doing it. Honestly, despite the ongoing conflict between Bitcoin users, and Elon. If he makes some awesome batteries in the future, and his initiative to offer free energy to his customers actually takes off, and becomes the way of doing things, I can see his technology actually benefiting Bitcoin, rather than hindering it. At least in the long term.

Rather than serving as an influencer, Elon Musk could've thought in such a way as his customers.
I think this is a bit unfair. I know the general consensus is that we should all hate Elon, for the effect he has had on Bitcoin, and its adoption. However, Tesla owners are doing this merely to profit for themselves, they don't have shareholders or anyone else to convince. Tesla on the other hand has to maintain its green energy reputation, since they're trying to convince people that their cars are clean, and the future. That's not easily done when they're publicly supporting Bitcoin, that has been dragged through the mud about its energy usage, even if it's not entirely accurate reports, its public perception that matters to him, not the truth.

Plus, he's much more than an influencer.
legendary
Activity: 4326
Merit: 3519
what is this "brake pedal" you speak of?
a while back (few years?) i read that a couple tesla ownders used inverters connected to the cars battery to mine with asics. but they had free charging via teslas charging network so their power was basically free.

if you pay for electricity to charge the tesla you might as well just use the grid power directly.
legendary
Activity: 3164
Merit: 1213
Enterapp Pre-Sale Live
I don't know whether this is an old news or an recent incident. Today only I came across this and I find this a better way of green mining. But, in terms of affordability everyone can't depend or power their mining rigs using Tesla. Rather than serving as an influencer, Elon Musk could've thought in such a way as his customers.

Two Tesla owners have been using their cars to mine cryptocurrency, where one used his car to mine $800 per month. This is quite a good sum of money out of mining. Right now two of them were identified, and following this we can expect more Tesla owners follow this method.

Tesla used to power cryptocurrency mining.
Pages:
Jump to: