Discounted Heating for Low Income Families in Cold Regions via ASIC Miner Loans

[true-asset]

Has anyone attempted to pay people in cold places to install a compact ASIC like the Spondolies SP20 to heat up their homes?

This is how I see it can work.

1. Load the ASIC up with firmware that locks out the mining pool config from being changed.

2. Provide the "heater" (ASIC) for free, and pay for 50% of the electricity running costs.

3. Effectively mine bitcoins at 50% of the normal electricity costs, with no warehousing costs.

4. During spring, have the residents return the miners and ship them to another region that is now winter.

[GigaBit]

Has anyone attempted to pay people in cold places to install a compact ASIC like the Spondolies SP20 to heat up their homes?

This is how I see it can work.

1. Load the ASIC up with firmware that locks out the mining pool config from being changed.

2. Provide the "heater" (ASIC) for free, and pay for 50% of the electricity running costs.

3. Effectively mine bitcoins at 50% of the normal electricity costs, with no warehousing costs.

4. During spring, have the residents return the miners and ship them to another region that is now winter.

Yeah, I call it the "Save Your Legs, Adopt a Miner" Package I offer pin-on deadbeats who owe me money.

At least they get a toasty home this chilling winter, all whilst paying me back, a win-win for all!

[desertfox470]

Has anyone attempted to pay people in cold places to install a compact ASIC like the Spondolies SP20 to heat up their homes?

This is how I see it can work.

1. Load the ASIC up with firmware that locks out the mining pool config from being changed.

2. Provide the "heater" (ASIC) for free, and pay for 50% of the electricity running costs.

3. Effectively mine bitcoins at 50% of the normal electricity costs, with no warehousing costs.

4. During spring, have the residents return the miners and ship them to another region that is now winter.

It's a good idea, but it will not work. I don't think that people are willing to spend 50% of the electricity a miner takes up just to heat their house. They need to watch over the miner as well. Natural gas heating is far more economical even if you find people that live in very cold place they probably already have cheap electricity.

[Bitcoin++]

OP's idea makes sense.

If you receive >50 cents for each dollar you spend on electricity, and you strike a deal with someone willing to pay 50% of the cost... then my sir... you have a lucrative business.

[jasemoney]

So a tweaked version of this is already available in Germany see link and quotes below. the economics of it working for the German company are: company doesnt pay to cool the device, so they provide a server unit +electricity + internet for the unit, and the host receives free heat & hot water. Unfortunately the only upside to true-asset's idea is half price heat, but depending on the efficiency a bundle of asics could be in excess of the hosts demand, and end up costing them more than they would pay to heat their home electrically in the first place. Also worth noting, heating via electricity is very inefficient compared to price of using fueloil.

http://www.slate.com/blogs/future_tense/2014/11/11/cloud_heat_is_putting_servers_in_homes_and_offices_and_the_heat_from_them.html

"Cloud&Heat is a cloud infrastructure company that has started distributing its servers to people who want to store them in exchange for free heat in their homes or offices. Since servers generate so much excess heat and cloud companies have to spend a lot to cool them"

Unfortunately the people hosting aren't paying for the electricity for the server like true-asset recommends.

Customers pay to have a Cloud&Heat fire-proof cabinet installed in their homes or offices (the cost is comparable to installing a standard heating system). Then Cloud&Heat pays for the electricity and Internet service the cabinet needs and the owner gets to enjoy free heat and hot water.

[NUFCrichard]

Has anyone attempted to pay people in cold places to install a compact ASIC like the Spondolies SP20 to heat up their homes?

This is how I see it can work.

1. Load the ASIC up with firmware that locks out the mining pool config from being changed.

2. Provide the "heater" (ASIC) for free, and pay for 50% of the electricity running costs.

3. Effectively mine bitcoins at 50% of the normal electricity costs, with no warehousing costs.

4. During spring, have the residents return the miners and ship them to another region that is now winter.

I like the idea, I really do, but I see a few problems.
Places that are so cold and would be willing to get involved in such a plan to save money, probably won't have the best Internet in the world.

Point 4 seems like the biggest issue to me. In the northern hemisphere there are lots of cold places in winter, but in spring it is only autumn in the southern hemisphere, not winter anywhere. Because of how the countries lie, nowhere is as far south as the far north countries are north, so not too many places where people actually live would be suitable for such mining. Patagonia or small islands in the pacific might be ok, but good luck get in touch with them in the first place!

I would say finding someone in northern Alaska or Iceland would be easier, then hope for a cold year!

[Kprawn]

Well, I am all for efficiency .... If we can use all that heat generated for something good, we would have solved one more problem.

Would we be able to do it, for less or more environmentlly friendly {sry spelling sux today} ... I guess not.

I would like to see these farms operating in the basement or parking area of huge mall's {They generate the heat for the centre/mall and the owners pay them a % of the cost to generate it....}

The Mall already have a huge ventilation shaft system in place, so you would just piggy back onto that from the basement and cancel out the air-conditioning system.

The heat would then be a added income for the miner, to subtract from his electriicity bill. {This area should also be "rent free"}

The miner and the owner score from this arangement.