When 1 BTC is exchanging at $16K USD, you can make money with S9 miners (3 years old) with electricity at 2.2 cents/KWH. With S19 miners (current), at same exchange rate, you can make money with electricity at 5.7 cents/KWH. At current exchange rate, your electricity can be almost 13 cents/KWH and still make money, which is much more mainstream. The real value comes when can keep and/or spend your earnings in BTC form. The moment you convert it back to any regulated currency, you’re taxed (the illegality of not reporting BTC earnings that stay as BTC notwithstanding). If there is enough of a native BTC economy available to you, that’s an automatic 18-35% increase in value compared to any regulated currency.
Sent from my iPhone > On Jan 10, 2021, at 2:08 PM, Matt Hoppes <mattli...@rivervalleyinternet.net> > wrote: > > Zcash looks like it could be positive. > >> On 1/10/21 2:50 PM, Craig House wrote: >> I mined in my house 2-3 years ago. Trust me the heat is nice but not free. >> I spent 1700$ a month on electricity and had to open my windows in my house >> if it was above 40 outside. I was mining eth with about 75 graphics >> cards. Never got into ASICS machines cause they are single purpose and >> planned obsolescence so I never could justify the cost. >> Sent from my iPhone >>>> On Jan 10, 2021, at 12:52, Mark Radabaugh <m...@amplex.net> wrote: >>> >>> Mining bitcoin with the rational of generating heat for your house is a 1 >>> to 1 efficiency from a thermodynamic standpoint. Every KW of heat costs you >>> whatever your electric rate is. You are earning some money (coin) for each >>> KW which reduces your effective heating cost. >>> >>> At this point I don’t think any of the currencies mining value is even >>> close to the electric rate required to produce it. Put your money into a >>> good geothermal system that gives you 3KW of heat for each 1KW of >>> electricity you put into it. >>> >>> I’m willing to bet you will be farther ahead spending your money on >>> geothermal, solar, and insulation. >>> >>> Mark >>> >>> >>>> On Jan 10, 2021, at 1:22 PM, Matt Hoppes >>>> <mattli...@rivervalleyinternet.net> wrote: >>>> >>>> Now this is an interesting idea I had never considered! >>>> >>>> On 1/10/21 1:15 PM, Mike Hammett wrote: >>>>> I'm intrigued by mining cryptocurrency to generate heat in my house that >>>>> pays for itself. >>>>> I understand that there is something called profit switching that changes >>>>> which currency is being mined based on profitability. >>>>> I understand that ASIC miners are way more profitable. >>>>> I understand that algorithm support in ASIC miners varies. >>>>> Where can I go to separate the wheat from the chaff? Google returns a lot >>>>> of crap. >>>>> I understood that you mine the coin, stuff happens, then the coin goes >>>>> into your wallet, of whatever type. You then hold it or exchange it for >>>>> goods or cash. >>>>> What are pools? >>>>> What are stratums? >>>>> Where can I find more information on asic miners, to find which ones are >>>>> best able to generate a return for their cost? >>>>> ----- >>>>> Mike Hammett >>>>> Intelligent Computing Solutions <http://www.ics-il.com/> >>>>> <https://www.facebook.com/ICSIL><https://plus.google.com/+IntelligentComputingSolutionsDeKalb><https://www.linkedin.com/company/intelligent-computing-solutions><https://twitter.com/ICSIL> >>>>> Midwest Internet Exchange <http://www.midwest-ix.com/> >>>>> <https://www.facebook.com/mdwestix><https://www.linkedin.com/company/midwest-internet-exchange><https://twitter.com/mdwestix> >>>>> The Brothers WISP <http://www.thebrotherswisp.com/> >>>>> <https://www.facebook.com/thebrotherswisp> >>>>> <https://www.youtube.com/channel/UCXSdfxQv7SpoRQYNyLwntZg> >>>> >>>> -- >>>> AF mailing list >>>> AF@af.afmug.com >>>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >>> >>> -- >>> AF mailing list >>> AF@af.afmug.com >>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com > > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
