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netikras
3y

I wonder what's the future of the crypto-mining businesses, when electricity prices have sky-rocketed to 4€/kWh [from what it used to be 14ct 2 years ago]. True story. Shops had to close

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energy

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electricity
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  • 4
    3y
    Proof of stake instead of proof of work
  • 3
    3y
    @Root Which means an oligopoly control over the currency. Any babble of decentralisation goes right out of the window. That's why Ethereum has been lying about that change for years.
  • 1
    3y
    @iiii That's even worse with proof of stake because you don't even need ongoing costs anymore. Just sitting there with enough coins is sufficient.
  • 1
    3y
    @iiii The rich have a much easier way: offering shit like well-paid directors' board jobs to influential people. That's how legalised corruption works.
  • 1
    3y
    Just buy the following:
    8kw/h solar panels, and equipment.
    A battery to hold what ever you don't use.
    A crypto rig + coolling solution.
    About 50k euro.
  • 1
    3y
    Lots are already following to where power is cheap (or straight up aquire means to produce power) so I'm expecting more of that
  • 1
    3y
    @Nanos and winter...?
  • 2
    3y
    @netikras

    Winter is great in Australia
  • 0
    3y
    Curious as well. Now that graphics cards are back in fullswing and not hard as hell to get.

    Blessing and a curse at the same time. Wonder how much that has effected mining prices too?
  • 0
    3y
    @CrazyDiceGuy I think you have cause and effect the wrong way around. GPUs have dropped in price because demand from mining has dropped, and that's because mining has become less profitable with the crypto crash.
  • 1
    3y
    No care it's not an asset that creates employment, allow creation of new technologies and so on. Some people will loose money, end of the story
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