Sunday, 11 March 2018

This Heater Not Only Heats Your Home But Also Mines Ethereum

quote [ Qarnot, a heater manufacturing company based out of France, may have come up with one of the most innovative uses of cryptocurrency. That is to take the heat generated by mining cryptocoins and use it to heat your home. Any mined coins will be owned by the heater's owner, which allows them to offset the cost of the electricity and the unit. ]

Thought this was from The Onion, but no.

I used to have a server that worked as a room heater, but year 'round.




#money honey
[SFW] [science & technology] [+4 Funny]
[by HoZay@12:32amGMT]

Comments

Ankylosaur said @ 1:02am GMT on 11th Mar
My house is heated with only electric baseboard heaters so I suppose this would be economical? ¯\_(ツ)_/¯
HoZay said @ 1:29am GMT on 11th Mar
If not for the purchase price, about 7x regular baseboard heater.
Kama-Kiri said @ 3:49am GMT on 11th Mar [Score:1 WTF]
At last check Iceland was using more electricity on mining than for residential use. I was hoping we had already got to the stage where there is more money made selling mining hardware than by mining itself, but I guess not?

spaceloaf said[2] @ 9:38pm GMT on 11th Mar
Unfortunately, its not even close as far as I can tell.

People on reddit were estimating that a single GTX 1080 Ti card can make around $100 a month (net profit depending on electricity costs, conversion costs, etc.), even if you actually use it for gaming and only farm in your off hours. So even at a 50% markup (MSRP of $800, sale price of $1200), you can make back the entire cost of the card in a year.

They were even encouraging people to casually farm as it is the only way to compensate for the inflated hardware costs.

I fear that even when nVidia releases its new architecture, its not going to help anything because all these old 1080 Ti cards are still going to be profitable; just not as profitable. But miners are going to quickly buy up all the new cards, and since the old 1080 Ti cards are still viable they are still going to be in demand. Prices won't normalize much (if any) in that case.
hellboy said @ 1:16am GMT on 13th Mar
And the diminishing returns, which I guess you get around by switching to a different vapocurrency (though there must be an aggregate effect there too).
JWWargo said @ 3:18am GMT on 11th Mar
Dienes said @ 3:45pm GMT on 11th Mar
hellboy said @ 1:15am GMT on 13th Mar
This is one of the things that drives me crazy about vapocurrencies. "Mining" is exchanging actual work, in the form of energy burned, in return for nothing of intrinsic value. That same energy could be used for lots of more useful things, including processing SETI or Kepler data (which has a very small but still far larger chance of yielding something of actual value), rather than doing nothing more than contributing to global warming and the entropy of the universe. At least the tulip bubble looked pretty and was useful, if nothing else, for fertilizer.

If they're going to insist on doing it, they might as well heat a house in the process, though it's a pretty inefficient way to do so.

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