Space mining-myth or reality?

[YuginKadoya]

I hate to admit it but this can be a breakthrough not only for the miners but for all researchers in exploring space and beyond, They could use satellites to simply get communications and internet signals maybe they can get good internet speed up in space and I really think energy would be simply free or has a low cost than inside earth, Well I have seen an article that NASA has indeed begun blockchain research for deep space navigation, And Miner one had suggested that mining cryptocurrency in space will be a reality in the future.

https://www.ccn.com/bitcoin-mining-in-space-an-interview-with-miner-ones-ceo/

[BitcoinHodler]

I hate to admit it but this can be a breakthrough not only for the miners but for all researchers in exploring space and beyond, They could use satellites to simply get communications and internet signals maybe they can get good internet speed up in space and I really think energy would be simply free or has a low cost than inside earth, Well I have seen an article that NASA has indeed begun blockchain research for deep space navigation, And Miner one had suggested that mining cryptocurrency in space will be a reality in the future.

https://www.ccn.com/bitcoin-mining-in-space-an-interview-with-miner-ones-ceo/

from what i understand there is a difference between using the blockchain technology in space program by NASA and with what OP is talking about which is mining blocks of a PoW coin which is processing transactions and needs to be competing about it!

[pptIox]

Well, the electricity isn't a problem at all, it can be solved with solar panels... But internet, that's the real problem, How would you provide internet in space for your miners.

And another problem is the maintenance, what if a fan fails, or a circuit get fucked up, you will go to the space to fix it?

And the last problem is the cost, send miners to space shouldn't be cheap.

There is radio communication in space, the Internet is not a problem.
I am sure there is no wind in space, so I don't know if the fan is necessary.
I don't know how much it will cost to send miners to space，maybe it's enough for me to buy 100 miners on earth.

[denzkilim]

A bitcoin node is probably more feasible than sending a single ASIC up in the LEO (Low-Earth Orbit) just to hash and operate at a loss. One area of concern is maintenance. Interference from other objects and the radiation from the sun will surely lessen the life of the machine, rendering it useless in just a couple of months. There's simply no feasible defense in sending a miner on the outer space. Just imagine its components be removed due to high-speed orbit, or causing the miner to fall from whatever vessel it is, amonh many other reasons.

I think the OP has a lot of imagination without knowing the facts and the reality of things and maybe he does not even now that mining rigs need some maintenance and should be regularly checked. And if ever his insane idea would come to reality the cost of maintenance will be far greater from the profit that he will get from space mining because the one who will maintain it will need to ride a rocket ship to space in this method will definitely cost a lot of money and time.

[irenegaming]

Lol, well hypothetically speaking, I think it would be much more expensive to send all the equipment and personnel in the space to make those crypto farm than the profit you can get, and if you think that the space is a place without rules and that the government will not claim taxes, you are very wrong, they always find a way.

[coin8coin8]

Do you know the cost of launching a rocket?  Do you know how expensive it is to go to space?
If you don't consider the cost, you can even extract hydrogen energy from the sun to mine your bitcoin.
So, don't make meaningless fantasies. Any idea that is out of cost-effectiveness will be considered ridiculous. I will treat it as a joke.

[realcrypto]

Your suggestion is to profound a way of running from cost and maximizing profit but your idea is more expensive and risky than mining on earth. The best option is to build a mining equipment that will consume less electricity.

[nazaididuan1]

Human research on space requires a lot of energy and money!
Mining of cryptocurrencies in space seems impossible because the cost is too great!
The economic benefits of studying space are much greater than mining!

[BillieCrypt]

Mining in space is a good semi-fantastic idea in the case of the start of the functioning of the settlements on the Moon or Mars. Solar panels will produce electricity for heaters in the form of supercomputers, which will mine coins during idle times.

[Abal Abal]

I think this is a lucrative idea for miners, it's just that this idea is very difficult to realize even impossible. too heavy and no one will give us cheap or free electricity.

[BitBustah]

This is just idiotic, to even establish some type of mining facility in space would cost millions upon millions of dollars just to set this up.  You lack an understanding of how crypto mining works and this looks to be some type of troll post.

[St4yInTh3D4rk]

If you are concerning about the electricity fee,how would you spend few million or billion dollars to take all those equipment needed to build a mining farm.Not really worth to start a mining  farm in space just build at the best place or even at the Himalayas where you will get the lower temperature than in space.

[Fredomago]

If you are concerning about the electricity fee,how would you spend few million or billion dollars to take all those equipment needed to build a mining farm.Not really worth to start a mining  farm in space just build at the best place or even at the Himalayas where you will get the lower temperature than in space.

Well said, better to buy solar power and start your mining farm with free electrify after purchasing the right amount of power you needed, instead of
thinking the idea of exploring outer space spending millions of dollars to build the rig spaceship.

[Shenzou]

What conditions are needed for profitable production?
And, do you know what place is best for all these items? Space!
1. Cheap electricity (preferably free). according to rough estimates, mining leaves of 1100 MW or 9636 GW⋅h (0,829, MTA) per year.
2. In space, low temperatures, which greatly facilitates the cooling of the system.
3. There is a lot of space and there are no taxes and rules yet.
And test this idea is not so difficult. It is enough to take a small mining farm to the ISS and see what happens. And in the distant future, perhaps, they will build entire orbital cities for mining.
How about that?
Do you think it can be implemented in the near future?

A very ambitious idea to say the least. probably the cost of such a project is way to high for the amount of money that it will be able to generate, i mean sending a satellite takes billions and billions of dollars funding from the government, and also building solar panels with enough to be able to generate enough power to operate such a demanding rig is quite ridiculous, probably this might be possible when people are able to colonize on mars or something.

[yulchatar]

I read an article about it somewhere. Even some company is engaged in the study and implementation of this idea. And it's built largely on the use of satellites as auxiliary equipment in which billions of US dollars have already been invested.