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It was my understanding that you need very cheap electricity for cryptomining to be worth it, am I mistaken? If not I suspect that most people don't really have
by simias 6y ago
It was my understanding that you need very cheap electricity for cryptomining to be worth it, am I mistaken? If not I suspect that most people don't really have a good incentive to mine coins, unless the use it to heat up their flat or something (and assuming that they don't have more efficient heating available).
- etrautmann 6y agoAs a technical point.
- Rule35 6y agoEvery penny spent on electric heat would be more efficiently spent mining.
- simias 6y agoNot necessarily, if you have access to a heat pump for instance you could get much more efficient and cheap heating than a mining rig would offer you. You could also be heating your home using natural gas or some other resources costing a lot less than electricity in some markets. Being able to reuse the heat from mining does make it easier to break even of course, but given how competitive the sector is I doubt that it's enough to offset the costs in most places.
- Rule35 6y agoYes, a heat pump would be better. I was thinking of what most renters have available - baseboards and portable heaters. Cover the costs, maybe not. Offset, certainly.
- literallycancer 6y ago5700 XT makes about 6-7 USD a day, depending on electricity cost. It hasn't really been a factor for a while now. You'd make profit even in Germany.