Bitcoin Forum
October 18, 2018, 02:07:53 AM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Anyone ever worked out the Electricity Cost alone of Bitcoin Mining???  (Read 3952 times)
avw1982
Hero Member
*****
Offline Offline

Activity: 644
Merit: 500



View Profile
March 30, 2016, 01:20:55 PM
 #21

[How do I move the power from the Sahara to the rest of the world?

Answer is you don't as it would be far too costly.  The grid  cost would be really high to set it up and really high to maintain it.





But it certainly could help people in Africa with their power needs.
Africa is big. Bringing power from the Sahara thousands of km away is very expensive and has tremendous losses in efficiency. It it would be cheap and easy, someone would have done it already.

I am from Emirates, I want to know How much per unit current takes for 1 Unit or 1 KW. People around me, No one knows about bitcoins here. I use to do with 3 friends here. We use to do cloudmining only, If we wanna start at here. How much it will take as investment.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1539828473
Hero Member
*
Offline Offline

Posts: 1539828473

View Profile Personal Message (Offline)

Ignore
1539828473
Reply with quote  #2

1539828473
Report to moderator
1539828473
Hero Member
*
Offline Offline

Posts: 1539828473

View Profile Personal Message (Offline)

Ignore
1539828473
Reply with quote  #2

1539828473
Report to moderator
leowonderful
Legendary
*
Offline Offline

Activity: 1092
Merit: 1022



View Profile
March 30, 2016, 01:24:13 PM
 #22

[How do I move the power from the Sahara to the rest of the world?

Answer is you don't as it would be far too costly.  The grid  cost would be really high to set it up and really high to maintain it.





But it certainly could help people in Africa with their power needs.
Africa is big. Bringing power from the Sahara thousands of km away is very expensive and has tremendous losses in efficiency. It it would be cheap and easy, someone would have done it already.

I am from Emirates, I want to know How much per unit current takes for 1 Unit or 1 KW. People around me, No one knows about bitcoins here. I use to do with 3 friends here. We use to do cloudmining only, If we wanna start at here. How much it will take as investment.
It all depends, how much solar costs for you and if you're willing to pay the enormous cost of the initial investment and i think people know about bitcoin in the Emirates. I have a bunch of friends from the emirates and they both run 5 antminer s7s. Never invest in cloudmining, the risk is far too high and it takes too long to roi with that much risk involved.

.FORTUNE.JACK.
      ▄▄███████▄▄
   ▄████▀▀ ▄ ██████▄
  ████ ▄▄███ ████████
 █████▌▐███▌ ▀▄ ▀█████
███████▄██▀▀▀▀▄████████
█████▀▄▄▄▄█████████████
████▄▄▄▄ █████████████
 ██████▌ ███▀████████
  ███████▄▀▄████████
   ▀█████▀▀███████▀
      ▀▀██████▀▀
         
         █
...FortuneJack.com                                             
...THE BIGGEST BITCOIN GAMBLING SITE
       ▄▄█████████▄▄
    ▄█████████████████▄
  ▄█████████████████████▄
 ▄██
█████████▀███████████▄
██████████▀   ▀██████████
█████████▀       ▀█████████
████████           ████████
████████▄   ▄ ▄   ▄████████
██████████▀   ▀██████████
 ▀██
█████████████████████▀
  ▀██
███████████████████▀
    ▀█████████████████▀
       ▀▀█████████▀▀
#JACKMATE
WIN 1 BTC
▄█████████████████████████▄
███████████████████████████
███████████████████████████
██████████▀█████▀██████████
███████▀░░▀░░░░░▀░░▀███████
██████▌░░░░░░░░░░░░░▐██████
██████░░░░██░░░██░░░░██████
█████▌░░░░▀▀░░░▀▀░░░░▐█████
██████▄░░▄▄▄░░░▄▄▄░░▄██████
████████▄▄███████▄▄████████

███████████████████████████
███████████████████████████
▀█████████████████████████▀
Oilacris
Hero Member
*****
Offline Offline

Activity: 994
Merit: 508



View Profile
March 31, 2016, 09:18:55 AM
 #23

Convert that into CO2-emissions and other environmental damage, and dollar for dollar you end up the same as mining for gold.

But the conventional banking system would use more electricity to run their business. They waste more energy.


██████████████████████████████████████████████████
███```````█████````````█████````````██████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
██````````█████````````████`````````█████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
███```````███████████████████████████████```````██
```````````███████████████████████████``````````
```````````████████████████████████████`````````
███```````███████████████████████████████```````██
██████████████████████████████████████████████████
█████████████````````█████````````█████```````███
█████████████``````````███``````````███`````````
█████████████``````````███``````````███`````````
████████████████``````███████``````███████``````██
█████████████████████████████████████████████████
vgvv
SECURIX
|
|
defined
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500


View Profile
March 31, 2016, 12:46:00 PM
 #24

But the conventional banking system would use more electricity to run their business. They waste more energy.
Conventional banks also process billions of payments per day, 4-5 orders of magnitude more than Bitcoin. Bitcoin energy consumption does not depend on the transactions, it depends on the bitcoin value. When bitcoin goes up, more miners consume more energy.
cardseller121
Member
**
Offline Offline

Activity: 61
Merit: 10


View Profile
April 10, 2016, 02:41:14 AM
 #25

it would work out to be pretty high i guess
LevinSwe
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
April 17, 2016, 09:59:24 AM
 #26

Hi,

I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.

So I do not think I affect climate. I use electricity to two things at once.  Cheesy
And in the summer, I have solar panels that generate free electricity to all miners. Wink

http://scadainfo.se/pic/1265.jpg
barbara44
Hero Member
*****
Offline Offline

Activity: 910
Merit: 504

HEROIC.com | The Future of AI-Powered Cybersecurit


View Profile
April 17, 2016, 07:34:46 PM
 #27

Hi,

I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.

So I do not think I affect climate. I use electricity to two things at once.  Cheesy
And in the summer, I have solar panels that generate free electricity to all miners. Wink

-snip-
Wow lucky. With free electricity, it's almost like you are getting 100% profit since most of the expense of mining is electricity and internet. Not everyone (of course)  has the same opportunity as you.

Oilacris
Hero Member
*****
Offline Offline

Activity: 994
Merit: 508



View Profile
May 06, 2016, 07:23:18 AM
 #28

Hi,

I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.

So I do not think I affect climate. I use electricity to two things at once.  Cheesy
And in the summer, I have solar panels that generate free electricity to all miners. Wink

-snip-
Wow lucky. With free electricity, it's almost like you are getting 100% profit since most of the expense of mining is electricity and internet. Not everyone (of course)  has the same opportunity as you.

That is not free electricity. He has to pay for it. I think heating is not required in Summer. So that can be regarded as a cost.


██████████████████████████████████████████████████
███```````█████````````█████````````██████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
██````````█████````````████`````````█████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
███```````███████████████████████████████```````██
```````````███████████████████████████``````````
```````````████████████████████████████`````````
███```````███████████████████████████████```````██
██████████████████████████████████████████████████
█████████████````````█████````````█████```````███
█████████████``````````███``````````███`````````
█████████████``````````███``````````███`````````
████████████████``````███████``````███████``````██
█████████████████████████████████████████████████
vgvv
SECURIX
|
|
DaddyDekkko
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
May 06, 2016, 07:21:52 PM
 #29

there are over 1000 threads pertaining to this. USe hte seach.
Yakamoto
Legendary
*
Offline Offline

Activity: 1120
Merit: 1004


View Profile
May 07, 2016, 02:26:43 AM
 #30

As said by other users, there have been a bunch of threads made about this, a bunch of websites, etc, where you can calculate the cost of mining Bitcoin with different hardware pieces, different electrical costs, all those wonderful things.

And miners have worked out the cost, since they know how to make money off of it and manage to cover their costs. It's just a little math, nothing too major.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!