Topic: Wind Mine - page 2. (Read 227 times)

Yes it is true that there is a bit of a problem in electricity consumption due to mining causing fluctuations in profits that a miner could get along with mining difficulty and altcoin market prices specially in a bear market like what we have now. Tha project is really promising with the the solution of using renewable energy like a wind farm to be used for mining purposes which in return lower energy costs, the only problem that I see here is that the proposed project will do clould mining which has a bad reputation in the industry due to scams and if this project is going to be successful then it will change the view of investors that would want to do mining as an alternative way to make profits in the crypto industry.

Such mining doesn't make me sure so I can't trust it. I am for the usual constant mining which is more reliable and stable in its profit. But there are some interesting facts in your article that can be very useful in choosing the right type of mining which can be used.

It can also be attributed to such projects, the project of Pavel Durov, who wants to solve the problem of transaction cost and transaction speed. I think his project is very promising. But when it will appear so far no one knows, but I think that by the end of 2019 we will see it for sure.

This is a very good initiative and a unique idea too, to be able to generate energy by using wind. Not only will it be a good thing for the environment, this will even attract more miners. Because mining does require a lot of energy and wind energy conversion is a great idea,. and it will save money too.

This is a very thoughtful project and it does seem to have potential to thrive in the future. Caring for the environment is what we all are concerned about nowadays. And the fact that mining does take up a lot of energy is something that has been bothering the environmentalist in the back of their heads. So using wind energy is a great idea indeed.

Wind mine is an interesting mining project. It is the first cryptocurrency mining project which will absolutely use no external energy. The energy is 100% renewable which will have no negative impact on the environment. This is an innovative project where excess unused green energy will be sold back to the market.

Yes, I also agree that it is a very good idea because of the amount of energy that mining consumes and also the time your spend doing it. I hope this project will be very effective and will not end up being crashing on the way .

We all understand, it's a good idea. I hope this will not be another project, which overuse on good intentions in preserving the environment.

This is a great idea based on this we all know mining consume lots of energy and it is expensive enough based on this type of initiative may help our environment also can reduce cost also this is great step for environment.

The project seems really promising and hopefully this will solve the problem prevailing. I am looking forward to this. The best thing I liked about the project is that it will allow individuals to lease mining power/hashrate directly from the company to generate income. I am sure that investors will like like it just like I did.

THE PROBLEM
The main problem facing the cryptocurrency community today is that mining operations are using a huge amount of electricity in order to meet the mining needs of the various currency users. If we consider that coins such as BitCoin are only passing 7 transactions a second and newer coins process transactions at a much higher rate, the demand for electricity will become unsustainable within the next few years. However for the sake of decentralization many coins still consider POW (proof of work) as a worthwhile solution in order to deliver all true blockchain qualities to the coin users.

As national governments have shown a reluctance to switch to renewable energy, this means that most of the mining operations are still being powered by older, fossil fuels. Everyone knows the major downfalls of using fossil fuels including the general damage to the environment through both their mining and burning to generate energy and the lasting impact that this will have on our world if it is not changed.

However, despite all of the facts, it is estimated that only 22% of all energy (globally) will be from renewable sources according to the International Energy Association. This was also decided before the more mainstream adoption of cryptocurrency mining and its commercialization.
Electricity is used by cryptocurrency mining operations in two main ways. The  rst is by powering the actual GPU units and ASIC miners themselves. As the GPU units and ASIC miners are being used 24 hours a day, they generate a large amount of heat through their operations. This means that they need to be cooled in order ensure that they continue working. If a GPU’s temperature passed a key point, it will destroy the hardware, rendering it useless. Therefore the facilities that house these mining operations are required to be temperature controlled to ensure functionality of the mining hardware within them.

THE WINDMINE PROJECT

The WindMine project will have three main parts to it. The  rst part is to acquire a wind farm in Northern Europe (already completed). The second part is to deploy mining facilities utilizing latest available mining technologies allowing individuals to lease mining power/hashrate directly from the company to generate income. The third part is to sell excess electricity directly back to European districts to assist with energy shortages.
THE THREE PARTS TO THE WINDMINE PROJECT

1) Develop wind farms across Northern and North Eastern Europe within the European Union.
2) Allow individuals to lease mining power/hashrate directly from the company to generate income.
3) Sell the excess electricity generated by the wind farm to domestic regions within the European Union.

https://www.windmine.com