Good one!
However, playing the 29 sextillion hashes per 10 minutes game has some hidden advantages. Bitcoin is creating the most unhackable set of random numbers in the world every ten minutes, and no one seems to be taking advantage of that.
Also, we won't be in a bear market forever. Mining will become quite profitable again, and when it does, it won't be easy to buy the equipment like it is now.
Also, I am one of those people that has 'free' electricity. It comes with the rent, so if I wanted to I could easily leech from my landlord.
Not only that, in the winter time the power consumption is trivial because most the energy lost dissipates as heat. I'm surprised this hasn't become more of a thing: hooking up a mining rig to central heating. This is especially relevant in extremely cold climates.
We are also seeing plays to use renewable energy for the mining rigs. This allows people to farm energy anywhere in the world without having to worry about making that energy profitable by transporting it elsewhere and selling it.
One of my Insta Oldies but a Goodie. Satisfied Seal Crypto Miner.
True story, I got a couple of ASICS, currently unprofitable until the SiaCoin fork and pretty much SOL on the other unless I replace the chips. Anyways, they help keep my turtle bros warm (Got an aquarium in the garage.) when it's cold so guess it could be worse.
perfect meme! hahahah a
this is not a bad idea, central heating mining rig :D mining only in winter time :)
we were joking with a friend years ago, that half of his heating is from a monitor :D he had a small room with a 21 inch huge CRT monitor
That exact same thing happened to me in the last place I lived in. My room was so small that the heat it trapped from my computer was insane.
I think the solar options sound interesting, dunno how feasible they will become or if they will ever reach a point of balance... but definitely something to explore.
When you consider that Big Oil rules the world by force and that they put a lot of effort into stopping renewable energy you really have to wonder if we've already invented Cold Fusion or other similar technologies like sustainable hydrogen power from water.
It's the same reason why many conspiracy theorists think there is already a cure for cancer: infinite energy and happy/healthy people aren't profitable.