[2017-08-26] Chinese Manufacturing Giant Midea Seeks Household Appliance Mining

[ivanpoldark]

Public records reveal the large Chinese electrical appliance manufacturer, Midea Group, recently applied for a patent that enables bitcoin mining through household appliances.

A system for Digging Bitcoins by Using a Household Appliance

The Chinese corporation Midea Group is a major appliance manufacturer headquartered in Beijiao, China. Midea has been listed on Shenzhen Stock Exchange as a publicly traded company since 2013 and has plants and logistics centers across 200 countries. The company has done well for itself over the past two years as it was listed in the Fortune Global 500 in 2016 and 2017.

The patent published this past spring, describes bitcoin miners powered by everyday household devices, like an air conditioner, one of the company’s biggest products. Last November the firm applied for the patent called a “Method and system for digging [mining] bitcoins by using household appliances,” through Midea’s Wuhu Meizhi air conditioning company. The inventor of the patent is an individual named Chen Junji and the author of the concept states;

“The invention particularly relates to a method and a system for digging [mining] bitcoins by using a household appliance,” explains the patent found at China’s trademark office. “The method comprises the following steps: controlling network access of the household appliance, and logging in to a bitcoin account via the household appliance.”'


State Intellectual Property Office (SIPO) patent application.

Read more - https://news.bitcoin.com/chinese-manufacturing-giant-midea-seeks-household-appliance-mining-patent/

[error08]

Midea corporation could do this, a method and system to mining using air conditioner is a good idea. Although this machine isn't a hardware to mining but we can logging into a bitcoin account via the household appliance. The price of this household appliance will be more expensive as it's like you want to invest on mining company as; the “bitcoin account” is pre-registered to a mining operation that utilizes a “controller” that mines and stores the bitcoins.

[iamTom123]

Midea corporation could do this, a method and system to mining using air conditioner is a good idea. Although this machine isn't a hardware to mining but we can logging into a bitcoin account via the household appliance. The price of this household appliance will be more expensive as it's like you want to invest on mining company as; the “bitcoin account” is pre-registered to a mining operation that utilizes a “controller” that mines and stores the bitcoins.

This and many more ideas ready for application convinced me that cryptocurrency specifically Bitcoin is really here and is no more just a passing trend. There remains some who are firm in believing that Bitcoin is just another bubble that can pop any day but what we are now witnessing is really different...there is a continuing climb of interest for Bitcoin and this Midea innovation is one of them.

I am definitely sure that Midea would be barraged with orders once this application for patent can be successfully approved and integrated into their many household products. Two years ago, nobody imagined that one day we can be able to mine Bitcoin with the help of our common household gadgets.

Congratulations to Midea.

[gyu22]

I hope it works, but maybe there are some technical issues as the idea is not new: 21 Inc tried it for a while. Look at this piece of news by 2015: https://cointelegraph.com/news/21-inc-announces-embeddable-chips-to-subsidize-bitcoin-mining.

[veleten]

a fantastic idea,the problem is the distance between patents and actual implementation is too long
also,I don't think it is going to be any profitable,since the difficulty is high enough now
and this will have been going on (the actual devices that mine,heh  a smart fridge that mines makes me smile) for  a couple of years
we already have vibrators that spy on us,there will be nowhere to hide soon from the things that mine,spy and generally,do the things they are not designed for