5 ms·
The best part is that all the old ASICs go in the bin each time a performance improvement is found.
by Hjfrf 5y ago
The best part is that all the old ASICs go in the bin each time a performance improvement is found.
- travoc 5y agoWhere are these bins full of ASICs?
- sbierwagen 5y agohttps://www.ebay.com/b/Virtual-Currency-Miners/179171/bn_1642258?rt=nc&LH_ItemCondition=3000&mag=1 https://www.ebay.com/b/Virtual-Currency-Miners/179171/bn_164... Once a year or so I check on the prices of used miners to see if it would be reasonable to use one as a space heater. Payback period has never been low enough for me to be comfortable with it. (If you buy $300 of equipment and mining becomes illegal tomorrow, then those miners are worthless.)
- naikrovek 5y agomining will never be illegal. at best it will be heavily taxed as a discouragement. doesn't matter, though; just buy a space heater if you want a space heater.
- naasking 5y agoCome again? It's already happened: https://www.nytimes.com/2021/09/24/business/china-cryptocurrency-bitcoin.html https://www.nytimes.com/2021/09/24/business/china-cryptocurr...
- naikrovek 5y agowell I apologize for not knowing all laws across the world. clearly I am unfit to be part of the blockchain discussion given that my knowledge of mining laws is not entirely complete and fully up to date. forgive me senpai! by the way, all (all) blockchain and NFT stuff are complete and total scams and one should kick the scammers between the legs, hard, whenever they are encountered in daily life... if you wanted to know my true opinion on this.
- EForEndeavour 5y agoWould they become worthless, or would their black market value shoot up?
- thehappypm 5y agoHard to imagine people will still be buying and selling crypto anywhere near the scale it is today if it’s illegal in the US. A lot of the value is “future value” like a stock.
- TheSpiceIsLife 5y agoNot entirely worthless, given you’ve already sunk the cost they’d still be an effective space heater.
- sbierwagen 5y ago"Sunk cost" is for money you've already spent! The sunk cost here is my existing forced-air electric heat, which is already installed in my house and already turns 1 watt of electricity into 1 watt of heat, or the other space heater I bought ten years ago and can easily put anywhere I need spot heating. If the goal is turn electricity into heat and nothing else, then I am already well supplied with ways to do that.
- rbanffy 5y agoSince there's very little mechanical work on a miner, it also turns one watt of electricity into one watt of heat. What it'll also do is generate a small amount of bitcoin to help you pay for the electricity. It's sunk cost if you already have a miner and need a room heater.
- thedougd 5y agoOr a heat pump that uses 1 watt of electricity to move 6 watts of heat into your house.
- TheSpiceIsLife 5y agoUnder ideal conditions. What the sales people neglect to tell you is their efficiency drops precipitously as the temperature approaches zero. Heat pumps are much more consistently efficient in their other configuration as an air conditioner.
- TheSpiceIsLife 5y agoYes, sorry, I should have written: you’d’ve. Assuming you had already bought the mining rig, it would continue to function as a heater regardless of legislative changes, and act as a redundant system to your existing heaters to boot.
- tiahura 5y agoThat such things exist is just, sad. Bitcoin’s intrinsic value seems to be as a way of turning $100 of electricity into $1 of currency.
- marderfarker2 5y agoYou’re not wrong. Mining operators tamper their energy meters so their usage don’t reflect in the bill. My neighbour turned his residence into a mining farm, judging by the ludicrous number of installed air conditioning lol.
- travisgriggs 5y agoMaybe he’s running a side morgue. Or a swine vault. Or his kids just need lots of white noise to sleep and mama needs her nap. So many possibilities!
- semi-extrinsic 5y agoFor a used Antminer S9 you need average total electricity price to be below $0.08/kWh to have break-even in 1 year, it seems. In year 2 you will have earned about $600. If you look at GPU mining, a single RTX 3090 setup (assuming you already have a computer to put it in) requires electricity cost below $0.05/kWh to have break-even in 1 year.
- garmaine 5y agoeBay.