In terms of cost electricity out of the wall is WAY WAY cheaper than gasoline. Thats the savings. Plus an electric motor turns near 90% of electricity into motion, whereas a gasoline engine peaks at about 35% conversion of fuel into mechanical energy.
I can see it being way way cheaper in the US where it's .9 per kwh but what about somewhere it's 25 or 40cents? Still cheaper? Its goes from WAY WAY cheaper to just WAY cheaper. It is so much cheaper that many have been able to justify spending $15,000 on parts and still come out ahead after 5 years of driving. |
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So I've been toying with the idea of bitcoin loans. There are certainly times when having credit available is usefull. And someone who intends to keep their BTC around for a while may as well be generating some revenue by renting them out.
So the problem becomes how?
Bitcoin is inherently risky for the lender. There is no reversing a transaction, repossessing a car, no identifying info to hunt anyone down with. So do you collect personal info and break the asset of anonymity? It seems like the solution may like in the OTC trading forum which is reputation-based ratings. You can still use a pseudonym, but if you fail to repay a loan you loose your reputation and ability to trade.
The problem then becomes how to calculate the BTC value of a persons reputation, and determine the value that loosing a relative portion of said reputation has as a basis for collateral. I don't know how to solve this problem, other than by using the fuzzyist of all fuzzy logic, guesstimating while looking at a persons transaction history. But what if you wanted an automated system? How could you make "coinpal" but for small, automated BTC loans based on public trust data?
And how do you hedge against the possibility that the repaid BTC will be worth less than the lent BTC? You could offer loans pegged to USD, for instance. But the economics and implications of these possibilities makes me head hurt.
Thoughts? Ideas? Baseless ramblings?
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In terms of cost electricity out of the wall is WAY WAY cheaper than gasoline. Thats the savings. Plus an electric motor turns near 90% of electricity into motion, whereas a gasoline engine peaks at about 35% conversion of fuel into mechanical energy.
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I think it would be more cost effective to go for lead-acids instead of lithium and the like. I know the energy density is far from perfect but they are very easy to find and much cheaper. 5 years fuel cost? If you knew how many kms I drive per month you would probably come up with a different number... sure, I can do 5 years fuel cost, it's really not that much  But back to reality, is this at all doable? What kind of price would you see me paying for all the parts? How much labor to achieve the all electric goal? With that on my hand I can make an educated decision as to pursue this or not. My first EV with lead acid batteries and lots of DIY / ebay parts still cost over $10k Labor wise would be a couple hundred hours. Cost is highly depended on range and power. 20 miles is easy with lead, but 100 is damn near impossible without making a pig. Most are realistically 30-40miles. But if thats enough for you, lithium may be a wasted expense I do have a blog for my 240z conversion, though it's a bit outdated in that its focused on lead acid and not lithium like my current projects. www.AmpEater.comAnd where in NY are you - I'm a little south of Buffalo, would be nice to have a bitcoiner near me  I'm near Ithaca and Binghamton, so not exactly close, but the closest so far! How long do the heavy lead acid batteries last as in duration and lifespan?
You'd be lucky to get 300 deep discharge cycles from most lead acid batteries. |
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Im in the USA, in NY.
Does the hyundai have a manual or automatic gearbox? Manual is generally much easier to convert. It is doable, but the cost increases with vehicle size. Can you afford to spend 5 years fuel costs upfront? EVs are only cheaper in the long term, or if you salvage parts. I have been leaning more towards motorcycles and lighter vehicles recently because the lithium batteries are so expensive per kwh.
$300 bike - can be done sure, but would be a hack job, or used parts, and heavy lead acid batteries. My ebike is about $1500 in EV parts, but goes 50mph for 50 miles with a lithium polymer pack that can charge in 20 minutes and lasts 5+ years. Plus disc brakes, crazy headlight, ev gauge. I'd say $700 minumum for a nice system based on pre-existing bike.
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So....what am I missing? Do you have an employer? Self employed....mostly I work on my numerous electric vehicle projects and sell one occasionally to keep the cycle going. Sometimes I'll buy large lots of parts wholesale, use some and sell the others on ebay/forums. Buy other failed projects cheaply, etc, etc Plus I intend to roll my numerous hobbies into at least one legitimate buisness in the near term. Probably something to do with electric vehicles But I've got other ideas sloshing around too. "suit and tie" style jobs are for suckers I need to do the same thing, I will cut all my CC's and pay off my debts. I'll never again buy anything I can't afford - time to stop being a slave to banks and the Fed.
Amen brother! Its not so hard, just 1 card at a time. Pay it off, cut it up. Pay it off, cut it up. Also....go throw some seeds in the dirt! Squash, pumpkins, swiss chard, peas all practically grow themselves. You wont know what to do with it all (get a few chickens). Personally I'm too risk-averse to keep any significant* sums in BTC. Too much volatility at the moment for me to consider it a savings account. I see it as a high-risk investment.
*significant is a personal definition, of course. For me around 50% of my monthly income seems about the max I'm willing to have in BTC at any given time.
Its only volatile short term.....long term the swings dont matter so much, so long as you have the same basic amount. The dollar swings around versus other currencies but you don't go trading them all for Euros when there is a dip. |
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Any fellow EV hobbyists here? I've been building electric vehicles for years now. I've got john deere riding mowers, go karts, (1) vintage sports car, numerous electric bikes and trikes under my belt. I'm passionate about the technology, the concept, and continuing to create more of the vehicles we should all have access to.
The reaction I get out in the world when I'm driving/riding one of my creations is always hugely positive and encouraging. I've never made new connections so easily as to show somebody something I've built and offer to explain it or let them drive. I love see the look on peoples faces as they realise the possibilities, see that you can build amazing things with simple tools and some patience. I try to be an embodiment of the concept that when you need something, you build it. When it breaks, you fix it. It neednt be any more complicated then that.
I, personally, need to be able to move from point A to point B in a vintage auto, but without smelling gasoline, being poisoned by fumes, breaking down halfway there. I know electric is better because I've driven the same car with two different motors. First gas, until it de-constructed itself during an otherwise pleasant cruise, and then electric. That first drive sealed the fate of every gasoline engine I'm ever to come across.
Lawnmowers become a pleasure to use....I'm the envy of the neighborhood. I can inch it onto a trailer at 1/10th of a MPH if I want...and the power is amazing. Eight inches of wet grass just as long as you can keep it from clogging. Bicycles become a whole different animal when you add a hub motor and a small battery pack. Hills dont ruin your day. Cars are less of a threat when you can keep up with traffic. Four-wheelers, snowmobiles can be used 24/7 without disturbing neighbors, drawing unwanted attention.
I'm offering my services to the bitcoin community. I can provide consultation, system design, battery testing services (cyclic data), and plain ol' PARTS! I've got a bunch of motors, contactors, speed controllers, connectors, batteries, etc, etc available for bitcoin or USD. From large truck down to RC car size, and everything in between. I can assemble "kits" for simple vehicles like boats, mowers, go karts.
Let's build something.
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So I just got off the phone with the chase credit card devision, I let them know I was done with my card and I'd like my account closed. Turns out I had $80 USD in rewards that are being sent to me as a check. This means I'm $80 closer to paying off the next card! I had thought, like so many before me I'm sure, that I'd only use credit cards for "emergencies" or to ease buying large items on the internet. Turns out human nature and "plastic money" dont mix, especially when one occasionally enjoys using the internet while drinking It didnt take long for me to rack up more debt than I could pay down in a month, then in 2 months, etc. You know the story. So I'm breaking the cycle. I'm paying down cards one by one and cutting them up. Obviously I need an alternative, a positive-balance only, exchange-for-cash-able medium for digital fund transfer. Paypal is an obvious choice, but like so many others I've had problems with them freezing my account for nothing, siding with fraudulent buyers more than once (out of hundreds/thousands of transactions, to be fair). Not a great place to keep money. So....Bitcoin to the rescue! I pay my electricity/heat bill and house payments in cash. I own my own vehicles and bikes (ebikes), do not ever intend to finance a vehicle I have gardened in the past and intend to grow much of of own food this coming year...plus I can buy groceries in cash I trade on the internet, buy and sell lots of electronics/mechanical items/tools So....what am I missing? Why do I need credit cards? Why do I need a checking account? Can't cash + bitcoin do everything I need? What do I need to think of other than much strong wallet backup/security procedures? How many would need to do the same before that core community attracted new buisness all itself? |
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Card is SOLD.
One of my local buddies interested in bitcoin because of my rigs ended up buying it. Sorry guys
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Sold
I'm going to be swapping cards around in my mining rigs to lower temps for the coming summer and I'm probably going to have an odd 5970 to sell. I'm pretty sure its gonna be an XFX (I've got a few XFX and sapphire, I like to stay with 1 brand per rig). Works great, mining BTC as we speak. Right now used 5970s are going for $500 pretty reliably on ebay, and BTC is trading around $.80/1BTC so I'm looking for that range. Any takers?
Sold
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This is what you do:
You sell great things, affordably. It's the best thing you can do for this world.
I like the way you think. The way I'm helping the world is doing what I do, then not trying to get rich off the result. Just make enough money to build another, a little better this time. And teach anyone along the way that wants to build one themselves. |
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Could you elaborate a little more on your skills, what sort of web product you produce. Full websites, or just PHP? Could you build a shopping cart that priced things in dollars but looked up the exchange rate and displayed priced in BTC? How about a mechanism to automate orders/generate unique addresses in the bit coin client?
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More (probable) math problems a friend and I are trying to do. Looking at the 5770, you have a 156.83 Mhash/s, and based on the Mhash/w rate, that's .688705234 watts per Mhash. So, this is what the friend emailed to me: So in a second, you're using 156.83*.688705234 Watts. That's 108.009642 Watts per second, or 388834.711 Watts per hour. Divided by 1000 will give you the kwh, of 388.834711 kwh. At $.11/kwh, that would be $43.22/hour, and you would expect 1.5 BTC each day at the current difficulty. How do people make money with this?
So, I'm not sure how to calculate actual video card power usage, but where in the above are we off? A watt is a joule per second. It's not 108 watts per second, its just 108 watts. 108 watts for ten hours is about 1kwh. |
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I bid 1btc/month for "AmpEater is the shizzle for rizzle"
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I propose that a particular day each year is established in which currently existing Bitcoin community and enthusiasts collectively promote bitcoin throughout various locations (maybe both online and offline) and help to spread awareness through such efforts. Any ideas for a particular date that seems worthy to establish for such efforts?
April 20th |
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I have my doubts as to Anonymous's productive capacity. Their capacity for comedic revenge is well proven.
I too have doubts that a collection of countless proactive and self motivated individuals with a history of action, acting within a loose set of rules whereas anyone may contribute as little or as much as one wishes at any time in any way towards any cause one finds worthy will achieve any productive capacity Lulz I actually found out about Bitcoin yesterday because Anonymous' website where they publish press releases had a "We accept Bitcoin donations" link.
Awesome! Welcome. Bitcoin is right up your alley. Be sure to hit anon news with some bitcoin love when you have some to share |
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I signed up and just pointed 2x 5970s your way. Everything seems to be going OK, though I did get a "could not communicate with RPC server" error for a minute or two about an hour ago.
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Could cash in those coins for some solar panels and continue to mine guilt free But off-peak electricity usage is a little easier. If you run enough hardware to justify it you can have the electric company install a meter that will charge you different nighttime rates. Sometimes as much as 50% savings....I think that's what I will do this summer. Only run at night with cheap electricity and outside air cooling the mining room. Unrelated...but just start riding an electric bike and you'll be saving so much energy waste day to day your computers won't even factor. $0.13 in (night) electricity gets me 40 miles of transportation. $0.13 is barely enough gas to start a car |
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I played 4 times and lost every single one. I wanted to win one just to prove to myself it wasn't just a scam....but then realized that was making me fall for it even more and cut my losses. I'm glad at least somebody has reported winning
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