In the long run Bitcoin mining always moves toward zero profitability. In the state of dynamic equilibrium, the cost of mining would be more or less equal to the value of the mined coins (block reward and fees). Hence there is an upper limit to how much electricity mining will consume. As the block reward halves, the power usage also halves over the long term (assuming a steady price). As the value of BTC increases, the power usage will also increase. This upper limit is independent of the number of users or the number of transactions per second, at least while fees are a small fraction of the block reward.

Tell me, if not by transforming heat, then how is electricity generated?

You obviously don't live in Iceland, where 25% of the power is geothermal. Try this for starters: Geothermal electricity

I hadn't. That's actually very useful - this says that current bitcoin mining electricity usage is roughly 600 times less than the fiat banking system. Taking into account my previous point about the cost per user, that means that, per user bitcoin mining uses 11 times more than the fiat banking system.

Talking about cost per user is important because currently bitcoin is far from at mass adoption levels, whereas fiat certainly is.

You are indeed one ignorant person. You know shit about life, particularly outside the block you live in.

When you refer to a 3rd world country, take a note, that there are all beauties of modern civilization in there. Maybe even more, than in US. The key difference from developed countries is, that the middle class is almost disappeared in 3rd world countries and the rich are getting even more wealthy by abusing and enslaving of those in poverty. Believe me, you will not trust your vision, if you see those castles engraved in gold the rich people in developing countries live in. Their vehicles, also covered in gold or other precious metals. And army of slaves, behind them...

This is in Brazil, for example:


Regarding renting or buying a house, have you considered about the fact, that 30% of US population has a bad credit history or a bankruptcy, hence they can not get a mortgage loan? Educate yourself a bit, before making those hilarious statements...

https://www.nmhc.org/Content.aspx?id=4708

It is stupid because it shows a complete lack of understanding of life experiences different from your own.
There are many reasons people rent instead of buy. In the USA, they could be compromised financially by medical expenses due to serious illness and sold their home to pay the bills, they could be recently divorced and have lost assets to the SO, they could be young and yet to get into the property racket, they could be priced out of the market due to work circumstances, they could have moved recently new a new part of the country and be renting before they buy, they could be waiting for the inevitable property crash in San Deigo to get in cheap, they could ...

There are a million and one obvious reasons why people might rent instead of buy other than not having prioritized buying a home.
Your remark was stupid because you haven't figured this out. My guess is that you are young white, affluent, middle class and live in North America and haven't travelled much.

In some countries, even owning a watch can be considered as being rich...

See the situation in 3rd world countries.

Indeed. Mining has become a toff sport now. Its by and large lost it roots, and this loss will be the eventual death of the bitcoin ecosystem as it gets swallowed up by the fiat system.

This is a little pushy .. next time, if you're a miner, you should own a boat too, have 5 kids and live in a mansion, if one can find a good enough reason. Three years ago you'd find ONLY geeky guys with their GPUs/CPUs in the landscape. Now we jumped to data-center grade stuff, and I don't see the need to own a house yet just for "being a miner".

This remark isn't just thoughtless, its stupid.

I find this argument thoughtless. Those of us who don't own our own homes are often prohibited from making these kinds of modifications.

To upgrade from an 100amp service to a 200 amp service where I live is 2500 bucks to install flat rate..low end which is a very easy switch in my case anyway I was told..
....all the electrician's in this area charge the same rate.....the city I am in requires that the local utility shut down service and also that the electrical inspector and an electrician ARE PRESENT and it is signed off by the Electrical Inspector before the power utility can turn the power back on..so essentially you are paying for the utility service the electrician and the electrical inspector to stand around...and pay them for the morning shot ..to get everyone there...

and yes I asked 4 Electrical contractors they were all within $100 usd of each other and also if ....say the elec inspector or electrician is not on site when this
is done..then you guessed it ..the utility company will not turn power back on....a big headache

will try to slip by with the 100amp..don't have house a/c nor forced air furnace nor major other drains on the elec panel ....so should be OK the panel and wiring
is modern....

but heat out of the basement is my current challenge oh...and again this is CITY rules....along with the State rules and I think just the local utility protecting
their butt cause everybody else is so anal about all this!

Searing

You can always suggest this improvement to the landlord. And if it keeps you there safe and happy, (s)he will invest easily in any electrical modifications improving your quality of life. Then it becomes an improvement at "no cost" to you!

usually the US/CANADA is wired with a Hot 120V, neutral (0V return), and Ground (0V safety). Changing the neutral wire for a select outlet to run on the secondary phase of 120V will give you 240V at the outlet and work with a 'typical' PC power cord.

however, running 240V in a 120V socket is against code, so it should be switched out to a 240V-speced outlet.

Speaking for myself:


Now I live in europe where 240v is standard, but apparently even in the US/Canada you do actually have 220v just split in two parts and its a matter of getting a little y-cable and you can do it in a home also.  So buy the cable already, sure it cant cost more than $5 on ebay.

There are quite a few houses with 100 amp services that were made in the late 70's. That's pushing it. But a 150 Amp is only about 60 bucks if you look around. Also, if you want more than one of these beasts, a 300 amp may be a good idea. But that's a bit more money. Still a pittance by comparison to the miners themselves.