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Right now in Poland home owners can get some free money from EU to install photovoltaic panels on their roofs, so many people are doing it. The catch is: once y
by 988747 5y ago
Right now in Poland home owners can get some free money from EU to install photovoltaic panels on their roofs, so many people are doing it. The catch is: once you install them and start producing electricity you can send it to the grid, but you won't get paid for it in cash. You will get a credit, which you can use later, at night, or in winter, when your panels produce next to nothing. So you can reduce your electricity bills to zero, but not below zero (i.e. make money)
So, I already got an idea: I will buy a PC and start mining Etherum - at least this way I can convert some of that photovoltaic electricity to cash.
EDIT: you can look at this both ways:
- on one hand it is a waste of renewable electricity, that could instead be made available to less fortunate citizens
- on the other hand, being able to make cash gives me an additional incentive to invest in those panels in the first place (with electricity bills reduction alone it would take 7-10 years to break even)
- retrac 5y agoLikely not profitable. If you already have some surplus free electricity and free hardware, then yes by all means, you should be mining with it. But even when electricity is free the economics on new mining hardware are often uncertain. I don't know what the long-term price of cryptocurrencies will be, but I strongly suspect that right now is a bit of a bubble. I'm pretty sure the return will not be like $5 a day on a standard gaming GPU a year from now. And Ethereum in particular is moving away from proof-of-work consensus entirely, so the long-term future of mining is questionable really.