Fascinating miner article

[MEpatriot]

What do you guys think?

Heating his home for free, plus that kind of income for $400 a month in electricity costs?

Not bad..if true.

Of course, Oakland is nothing like the great white north where I'm at, but still....

http://www.businessweek.com/articles/2014-01-09/bitcoin-mining-chips-gear-computing-groups-competition-heats-up

[tysat]

Processing chips calculate faster when they’re hot

I think whoever wrote the article has no idea what they're talking about.

[Sitarow]

What do you guys think?

Heating his home for free, plus that kind of income for $400 a month in electricity costs?

Not bad..if true.

Of course, Oakland is nothing like the great white north where I'm at, but still....

http://www.businessweek.com/articles/2014-01-09/bitcoin-mining-chips-gear-computing-groups-competition-heats-up

Been done before by many of those in this community.

However some of us would have more then just $400 power bill

[Meuh6879]

a 1000w heater cost 20 USD and can heat a full room ... a bitcoin miner (10GH/s) ? it generate 40w and cost 460 USD.  

[Gabi]

Processing chips calculate faster when they’re hot

I suppose this confirm the incompetency of today's journalists 

[russokai]

Processing chips calculate faster when they’re hot

I think whoever wrote the article has no idea what they're talking about.

Yes I agree.  It's laughable.

[MEpatriot]

Yea, I thought it sounded a little off, but thought you guys still might like to see it.

You think he was boasting, or do you think he's really made $100K?

[BittBurger]

Yea, I thought it sounded a little off, but thought you guys still might like to see it.

You think he was boasting, or do you think he's really made $100K?

I didnt read the article, but if the "BS" meter is going off becuase people don't believe he's made that much money, then I'd say you guys are wrong.   I personally made $11,000 on the DOGE coin "thing" a few weeks ago, in one week.  If he's mining alt coins, there are plenty of pump and dumps that are kicking out thousands and thousands of dollars on a cyclical basis.  Its not BS.  And with a rig that big, you can bet he's making the most on each pump and dump possible.  Which means if I made $11,000 ... then he easily made $20,000.  On just that one coin.

If he's referring to Bitcoin only, maybe he's including the increase in value per coin.  

If he's referring to Litecoin - i know people that bought / mined 3500 of them when it was at $2.70 last summer who easily made $140,00 when it hit $52 ....

So depending what you guys are calling BS ... it may not be.

-BB-

[MEpatriot]

Cool!