Bitfury - Mining Lighbulb

[sidehack]

Probably for a lot of the same reasons discussed in the 21 Inc spec thread (https://bitcointalk.org/index.php?topic=1065077.0).

I'm generally opposed to IoT, and bitcoin-mining (or, more likely, spamming) IoT devices in particular. One of the biggest spambots from the last few years was a refrigerator - I really wish that was fiction, and it's only going to get worse. If you have a device which needs to produce heat, sure tuck some chips in it and run it when you need heat. But don't just tuck chips in everywhere. There's no way to make half-mining devices as power-efficient as dedicated miners, and if the device is just going to use its satoshis for its own things, why even bother letting it mine when you can just buy it a partial coin once a year for $10 and call it good? Saves having a thousand microdisbursements dusting up the blockchain. Really, a jillion baby miners each with its jillion microtransactions is going to seriously clutter the network, and cost more than just having a central miner in the house doing the work that all the little baby devices intend do to (but are much worse at it).

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[s1gs3gv]

Really, a jillion baby miners each with its jillion microtransactions is going to seriously clutter the network

huh ? what jillion transactions ?

[pekatete]

hmmm ..... would make for a nice distributed transaction confirmation infrastructure .... talk about suporting the network! Still, I don't want one.

[Guy Corem]

Because it's a stupid idea.

Why is it a stupid idea ?

Some of the reasons:

1) You'll get sub transaction fees dust
2) Certification nightmare
3) CE is very price sensitive. I don't see the incentive for a manufacturer to integrate mining ASIC
4) No incentive for the customer to buy or use such a device. If you want Bitcoin dust, go to a faucet
5) You're forced to design small ASIC (not necessarily a bad thing, but still, it might not be the best cost effective ASIC and package design)

btw, BitShare / BitSplit isn't a new technology. It was done back in the FPGA era.

I believe that the only home mining we'll see in the future will be in specialised heaters, like what BitFury experimented with back in the winter of 2013/2014 in Russia, before they started to fail on producing ASICs and concentrate on pre IPO publicity stunts like the bulb.

It's 25 TH/s (about 10K BitFury rev1 chips):


http://imgur.com/b9qlyw9.jpg

[Guy Corem]

hmmm ..... would make for a nice distributed transaction confirmation infrastructure .... talk about suporting the network! Still, I don't want one.

No.

1) It won't happened
2) If it will happen (it won't...), it won't amount to substantial hash-rate
3) If it will happen (it won't...) and it will amount to substantial hash-rate (it won't...) all the hash-rate will be directed to 21 pool. It's not solo mining.

[pekatete]

No.

1) It won't happened

Yes.

Still, I don't want one.

[Bicknellski]

No.

1) It won't happened

Yes.

Still, I don't want one.

Why can't a GENERIC light bulb mine to p2pools and a split in the revenue could be arranged right?

So many potential models here we don't have to follow a BitFury version.

So it could happen.
It could work to decentralize mining.
No fabricator would want to lose control over their current share of hashpower.
No fabricator would want to have completely decentralized units like the light bulb flood the market and cut the possibility for them to have a reasonable share of the hash rate.

How hard would it be to go generic?

[notlist3d]

No.

1) It won't happened

Yes.

Still, I don't want one.

Why can't a GENERIC light bulb mine to p2pools and a split in the revenue could be arranged right?

So many potential models here we don't have to follow a BitFury version.

So it could happen.
It could work to decentralize mining.
No fabricator would want to lose control over their current share of hashpower.
No fabricator would want to have completely decentralized units like the light bulb flood the market and cut the possibility for them to have a reasonable share of the hash rate.

How hard would it be to go generic?

I would want the function to select my own pool.  I would think they would be able to do that as Im guessing it has a raspberry pi or something such as that running to control it.

I still would buy one if decently priced for fun.  I think would be a cool item. 

[alh]

I think the risk of "flooding the market" with Bitcoin mining lights bulbs is approximately zero. I just recently received an advertisement from Home Depot (a nationwide USA home improvement center). They have Phillips 60W equivalent light bulbs (i.e. 800 lumens) in a package of 2 for $4.97!

I think Bitfury will be hard pressed to get close to that price. This of course assumes that the reason people buy light bulbs is to light up dark areas (like I do), and not to do Bitcoin mining in a novel form factor.

I think what was shown is an amazing stunt, and quite novel. It's just not a viable product as a Bitcoin miner.

[notlist3d]

I think the risk of "flooding the market" with Bitcoin mining lights bulbs is approximately zero. I just recently received an advertisement from Home Depot (a nationwide USA home improvement center). They have Phillips 60W equivalent light bulbs (i.e. 800 lumens) in a package of 2 for $4.97!

I think Bitfury will be hard pressed to get close to that price. This of course assumes that the reason people buy light bulbs is to light up dark areas (like I do), and not to do Bitcoin mining in a novel form factor.

I think what was shown is an amazing stunt, and quite novel. It's just not a viable product as a Bitcoin miner.

I would agree it is a neat gimmick product.  It is one that would not ROI chances are, but be for people to play around with and for fun.   

Compared to the "big boys" in light bulbs there is no doubt that they would never reach their prices.   Only chance would be to go to one of the big guys and try to get them to put it in their bulbs.  But I think they would see the added cost and say no pretty quick.

And really some energy efficient light bulbs (espically led) will last quite a while.  So changing light bulbs does not happen near what it was like 10 years ago.  I remember those old filament bulbs that would burn out.  You had to keep a few spares around just in case.  I only have a few spares compared to many back then.  Just not a need to change out light bulbs much for me.

[alh]

More 'thinking outside of the box' . The data furnace.


 http://arstechnica.co.uk/business/2015/05/data-furnaces-arrive-in-europe-free-heating-if-you-have-fibre-internet/

This is a very interesting idea. Essentially what's happened is that a company has found a way to try and dismantle a data center and distribute the servers out to individuals that need the heat. As described, they pay the electric bill, and you supply the fiber-optic Internet connection.

It's not clear what happens when you decide you don't want/need the heat any more. While the heat and electricity are similar to mining, the Internet requirements are hugely different. You don't need a big Internet pipe for mining, but you do when you are essentially hosting a server (i.e. the Data Furnace) in your house. As I think others have said, some small classes of heating devices might make sense to have a Bitcoin mining component as part of them.

[TheRealSteve]

While I can only imagine it as a technology demonstrator, you really shouldn't compare it to a regular (LED) light bulb in terms of pricing.  You'd have to compare it to one of those 'smart bulb' things that people throw too much money at while the rest of us flick a physical switch.  While the price of those has come down quite a bit, especially form large manufacturers like GE, slap a brand name on it, make spiffy videos and generally say 'iPhone' a lot, and there's the $50+ pricetag; http://www.lifx.com/collections

[notlist3d]

While I can only imagine it as a technology demonstrator, you really shouldn't compare it to a regular (LED) light bulb in terms of pricing.  You'd have to compare it to one of those 'smart bulb' things that people throw too much money at while the rest of us flick a physical switch.  While the price of those has come down quite a bit, especially form large manufacturers like GE, slap a brand name on it, make spiffy videos and generally say 'iPhone' a lot, and there's the $50+ pricetag; http://www.lifx.com/collections

Thanks for posting.  I don't feel so bad buying energy efficient bulbs now... they are a bargain compared to those.  They do have impressive stats though.

I don't see a lot dropping this premium on a light bulb but I could be wrong.  But it is a cool idea to have wifi lights.  For 40 to 100 dollars each I will be getting up and using the wall switches .

[TheRealSteve]

I'm quite happy with my IR-remote'd RGB LED spots and the LED filament bulbs I got back when they were first introduced.  Might replace them with new ones (remote phosphor tubes around the filaments), but probably only when those come down in price.  I honestly don't have a need for smart bulbs and couldn't care less about controlling my lights from my smartphone. "Have the light come on when you get home!" .. that's what the cheap PIR sensor is for and has the added benefit of throwing some light around for anybody, not just me as long as my phone's on me with BT turned on.  /rant

But yeah, smart bulbs already have all the now-termed-IoT stuff on board, adding a mining chip isn't difficult and doesn't eat that much into profits for the brands that already charge an arm and a leg anyway.  Just because they can, doesn't mean they should, though   Other than as a 'wannahave', I'd see more of a viable market for the lavalamp miner

[sidehack]

"Have the light come on when you get home!"

switch by the door DONE.

[jimmothy]

"Have the light come on when you get home!"

switch by the door DONE.

Do you realize how much energy you could be saving by not having to lift up your arm a few times per day? This is a game changer.

[sidehack]

A 2000 calorie diet means a human body consumes an average of 100W power.

[notlist3d]

"Have the light come on when you get home!"

switch by the door DONE.

Yea for 40 dollars on cheapest one of those wifi bulbs I find it hard to get past just using a switch.  I mean items like my fan have 4 lightbulbs so 120 dollars for the "cheap" one.  To retrofit a entire house would be very pricy.

A cheap energy efficient lightbulb even if left on some would be a LONG time to get to the 120 dollars mark on savings.  But I guess that is not what this is really about.

I still think it's 100 percent a gimmick.  But I want one to play with.   I know it will never ROI but one miner light above some miners would just be fun.

[OgNasty]

"Have the light come on when you get home!"

switch by the door DONE.

Yea for 40 dollars on cheapest one of those wifi bulbs I find it hard to get past just using a switch.  I mean items like my fan have 4 lightbulbs so 120 dollars for the "cheap" one.  To retrofit a entire house would be very pricy.

I don't understand why people are focusing on the bulbs and not the switches.  I would think a wifi enabled light switch would be a better use of the technology, as it could then control any number of devices and not be tethered to a bulb.  For your fan scenario, it would mean 1 switch instead of 4 bulbs.

EDIT: The light switch cover could even double as a giant heatsink.

[alh]

I think I'll wait until about 6 months after they go "on sale" whatever that means. There should be some real steals on Ebay when folks try and unload those "electricity guzzling" mining light bulbs. I'll then buy one to put alongside the USB Block Erupter, the U1/U2, and the Blue Fury.

Of course now that I'm a Hero kinda guy, maybe they'll give me one to review. Maybe I better shut up about how stupid they are..... 

I hope BitFury make many thousands!!!