Bitcoin Forum

https://cointelegraph.com/news/chinese-producer-embeds-bitcoin-mining-chips-in-household-appliances (https://cointelegraph.com/news/chinese-producer-embeds-bitcoin-mining-chips-in-household-appliances)

To be honest, I was just waiting to see this happening and I'm not surprised that it's the chinese aswell. How effective can this be tho? I mean even if it's a smaller specialized mining chips, so how profitable can they actually be? Also, would you every household appliance like that?

It's a matter of time until this happens. It has been a joke for years that some day our toasters will mine Bitcoin... Antrouter already mines Bitcoin and soon many other things will have Bitcoin mining-capable chips :)

Obviously, it's probably not going to be all that profitable unless some major breakthrough in mining chips happens, but it's better than not mining.

They are really pushing the limits to mine bitcoin. I don't mind them being one of the biggest miners in the world of bitcoin, but I guess they are really desperate to widen it more. But I am not surprised by this which makes me worry about my self. Chinese are really adapting themselves into this digital currency, hope my country is like that as well.

this is the greatness of the Chinese people they are able to make their developing country by being advanced all can be created by them
I think it's not impossible for them to mine bitcoin with household items and I'm sure they can do it.

Talk about mining with toasters, this idea isn't new as 21 inc have already thought of the same, but the Chinese were the first to materialize the said idea. My concern on this one is if the household products contain BTC mining chips, people wouldn't know that something is running in their product while they use it, causing a spike on their power bill. A cool idea, but hopefully Midea group would be open whether the products they are now selling has the chips or not.

Honestly, this is probably aimed towards those who know what and why are they buying they appliances so knowing that you MIGHT be paying a little extra just might pay off and that spike wouldn't be that much. I believe that just the paper was published and that the actual chipped appliances aren't being made yet.

Actually, I'd be slowly replacing appliances with these ones that have the mining chip built it. They may use more power but still may very well give some profit in return or just enough to cover the electricity you've spent.

This was the whole idea behind 21.com. They proposed making a whole bunch of appliances with miner chips in them, so they could mine with an IoT at your expense. Seriously. The offset was that the devices were cheaper than normal/free, but really? I think they eventually diversified the portfolio, so to speak. I notice they are a more all inclusive bitcoin resource (block chain explorer, statistics, etc).

Haha, would be super cool if it is happening. Wouldn't they need to have some kind of an internet to mine bitcoins or are they only embedding it in smart devices which have an active internet ?

Yes very agree with you. Many say bitcoin comes from china is true, so it's not something that should be surprised that chinese really adjust to this digital money, because they always appreciate digital money. And I really hope all countries have digital money mining. do not be afraid because this will move the economy better

I know right? Air conditioners are also consumable in terms of electricity, if you will be adding a mining chip that will spike more. Also, I think it will be hard for the appliances though, even though this is a good idea, it also open some problems too. Still the costumers are not asked about this but I think they sill not be accepting thism

It will interest me just in case it will be offered from my country too as we knw that bitcoin is one of the best profitable investment as of now so getting some mining share using an appliances inside my house would be nice for me, but the only consequence would be the security of my household and that will be needed to be reviewed before buying such equipments.

This can be an amazing idea. I guess it could mean that ordinary guys like you and me who can afford any cheap appliances can already get into cryptocurrencies as a miner. This idea can get so popular in years ahead as many appliance makers might also be joining the bandwagon once there can be a good demand from the consumers. Imagine...this can be an option to recoup the expense of buying an appliance as we are turning something we usually treat as everyday cost of living into a sort of a moneymaker. Must be a great idea whose time has come and we have here China leading the way. Now, am wondering where are other developed countries on this regard...:)

well chinese is taking every possible way to mine bitcoin, if you really looking to its possibility you can get about 80% of it, human beings are millions in population by now. and if each one of us using that application or appliances produce by the company in china then the possibility of mining if high. right now there are people still pushing the mining into its limit. Chinese really amazing.

this is mostly bullshit news, and coming from cointelegraph there is no doubt left they once again published crap like this.
first of all mining needs efficiency, you can't just embed "chips" in random home appliance and get them mining bitcoin.
secondly it is the heat they generate which can cause any of these houshold items to stop working
thirdly is the electricity they are going to take. you think people are just going to stand by and let their air conditioning take twice electricity as it is supposed to!!
and finally the dumbest part is that they need internet! you can't mine without internet and i am not going to let something i don't know connect to my network and use it without my permission!

Hell yeah. Nothing is impossible with Chinese people. They always invent something new to the point its not good in everybody. Like making fake food or anything that's fake. And no wonder they will mine and extract it at its bottom.
I don't know whats on their mind but one thing for sure they just always want to innovate things and dominate the world.

Might as well activate mining on toilets, powered by poop and urine. The more you use it the higher the hashrate can be. So it might be a good thing when you have diarrhea or a bad hangover. And it may encourage you to poop as much as possible to maximise profit. Imagine your bidet touch you right at same time makes money for you, the dream!

More truth to that than you realize. The Romans used to tax urine, as it was considered a valuable comodity. The saying "Money doesn't Stink" came from the Romans.

As we enter a future world based on resource management rather mass consumption, expect the current views of a very rich and living comodity like urine to change.

This is a stupid idea. Assuming these chips are low-power, similar to the one used in the AntRouter R1, I can't see how the company will offset R&D costs regardless of how many people buy and use these appliances.
The difficulty keeps increasing daily and these chips are already very obsolete. Embedded Bitcoin mining will never work, it's not strong enough.

The Chinese people are afraid of inflation so the majority have invested in coin. This has prompted the growing coin market

Just goes to show what they will do

It would be really super cool to see this happening. About that, I think they also plan to embed bitcoin mining chips on appliances that are used in houses daily but I dont know how it will get an internet access. It is said in the site linked by OP that "Once the chips are programmed, the products will then connect to a cloud-based service and contribute their hashing power to mine cryptocurrencies" so maybe it would have some kind of program to connect to the internet by itself.

chinese people thrive because they pursue trade in big market now now, they sell with lot even small result.

im not supprice too, what do you expect from Chinese they are good in handling money even a single cents they appreciate and hold that is why they are millioner Chinese all over the world.

For some reason I thought this post is about China somehow banning bitcoin again. Lol

Interesting idea, but I can't see the advantages of implementing mining on common household appliances. It's not like it saves electricity, as ofcourse a typical washing machine for example would have less power consumption compared to a washing machine that mines bitcoins. Not sure if I understood it right. Or does it mean that that company's products mine bitcoins without the customers knowing?

OP, do you remember the biggest funded Bitcoin start up called 21 Inc.? Their original goal was to develop and build Bitcoin mining home appliances and other stuff like light bulbs with embedded chips. All they came out with was a useless Bitcoin computer.

But their idea is not viable. Now no one knows what they are doing or where they are going to focus all their resources to next.

From what I understand as posted by someone in this thread. They(21 )  failed at it, and only made a computer. But even for the connection they will need somekind of a wifi module without which it will not be possible.

In my lifetime, I've seen China-made products evolve from mere reverse-engineering products regurgitated as cheap imitations to actual improvisation and innovation of technology, closer to what Japanese manufacturers have been doing. Even if you go to appliance/electronics stores, you'll find the "Grade A" Chinese products alongside the "typical Chinese products". Half the world uses Chinese consumer tech now - cheaper, and arguably superior.

I don't see this as desperation or greed - simply innovation. Some European governments found a way for households to "mine" solar energy to be sold to the state. Perhaps this is the start of household crypto mining to supplement state economy. Maybe even collaborative non-profit projects like Cloud Folding or the home SETI?

its like they want to own the most of bitcoin

The Chinese have always amazed me with their diligence. If they work then 100%. I once saw on the Internet in the process of building a skyscraper in China captured on camera in real time. They finished the building for a few days. This is a demonstration of their capabilities. And so in all.

Now this is really getting interesting. The Chinese are pushing the limits to innovate mining BTC. I won't be surprised if they're one of the leading miners. A concern though, what they're gonna make is not economy-wise. It would take a double of electricity usage and the need of internet.

i don't think anything about this is effective or even efficient. this sounds more like a joke to me than being something that actually happens in the real world! and besides some of these things will overheat and die if you insert a mining chip inside them or you'll have to add additional cooling system just to cool down the chip.

and it is "cease" to amaze not "seize" as far as my English tells me :D

My thought goes to this post when I had read that article I don't know what to say and think I might laugh on this idea thinking how can this work? well seeing your post that regular appliances may overheat due to the process of mining I would say that they would simply put some cooling system just like you thought but I'm afraid that the price of each appliances would be costly because of the extra build needed for it, and a miner rig cost a lot so a double purpose machine might really cost a really a lot.

Amazing product they are trying to create. They have had a huge part in the rise bitcoin have today. I am just astonished for them being so intellectually think about mining in such way. If it would happen, I must say then we will be seeing bitcoins everywhere :P economy will just turn over if it would happened, you will see.

I'm not surprised. Chinese keeps building cheap electronics full of options.

Chinese people are more on innovation and they want to create more and more technologies that can help our world and they are also business minded which is a great combination so most of the time they are one of the early birds in our world and they mostly go to the things that can help the world to change like bitcoin and we can see that most of the hashing power are from chinese people.

hah i said this over a year ago.. if bitcoin goes mainstream you will see small mining chips in almost every electronic device.. the manufactures will probably subsidise the equipment because of it.

1 small mining chip by itself does nothing.. but can you imagine a company like sony putting them in tvs and stuff.

of course there will probably be hacks to root your tv so you can change the mining pool lol..

but how much will you even earn!
mining bitcoin is not easy, the difficulty is very high. and if something like this happens and a lot of small chips come online and start mining, the difficulty will go even higher and that makes it even harder to find a block. and how much will you get paid for being 1 in a thousands of chips? 1 satoshi? 100 satoshi? per day?
and that is when you will be paying a much higher electric bill!

you wont earn anything.. but sony will, having millions of tvs and such mining for them.

This is a smart move of the elctronics producer... But I don't feel like a tiny chip mining Bitcoins will change anything for the majority - small time Bitcoin users won't hav the capacity to mine significantly. Electricity bills may go up though, if this becomes a mass-market thing.

Yes actually as of now, it was never a surprise for me.  Everything can be dupicated or imitated by the chinese.  Due to their large manpower, they can build an artificial island in the middle of the sea.  And that probably the reason why they are rich.  From weird medicines and foods, chinese are really something to look for. 

This is indeed an advance technology and it can be made into reality by the Chinese people as they are super technology experts and they have resourses , manpower and skills to produce such things which other might only dream. Programmable chips for mining in daily life appliances which not only make appliances more worth but also profitable for every one.

After reading through the article, I must say its something that worth commendation because it seeks to ensure that rather than wasting the appliances away, they could actually be used to generate some amount of income but the concern is who will earn such income and aside that, what if all the bitcoin that are to be mined are been done, what then happens to all the chips that are there already?.

Surely the moment to do this was 2009, not these days. It doesn't matter how many devices there are, they'll be outgunned into oblivion by industrial operations.

It will perhaps start to make sense again when the block reward is far lower and the main benefit of mining is collecting fees but even then it'll probably be fully corporate by then.

Yeah, you are a kind of right because Chinese never make such things that will bring down their name in market, but they work hard to make things that makes their name a way up in the market and in global market they will always high on the list of stock buyers. Well Chinese are also have the highest number of bitcoin that is why they never always surprise the world by their innovations.