The first practical use of Bitcoin I have seen yet

This late comer is far dumber than in the old days when mining companies would pay you to host their rigs and deal with the resulting waste heat. Then again, there is probably a greater who is willing to pay for one of these.
 
UnknownSouljer said:
You’ve just never had to do black market dealings. Come on now.
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Or lived in Argentina (fancy but not that much 4 person restaurant bills paid cash), were it was obvious to everyone that it could be partical:
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Even if they rapidly realised how non magic it end up to be (i.e. if you buy an house with bitcoin, almost all the problem with buying an house in US dollar are there, just reducing the hassle of carrying them, but you still need to find a third party everyone trusts that say who own the house)
 
LukeTbk said:
Or lived in Argentina (fancy but not that much 4 person restaurant bills paid cash), were it was obvious to everyone that it could be partical:
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Even if they rapidly realised how non magic it end up to be (i.e. if you buy an house with bitcoin, almost all the problem with buying an house in US dollar are there, just reducing the hassle of carrying them, but you still need to find a third party everyone trusts that say who own the house)
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Some currencies the cost value vs the dollar is insane.

I lived in Vietnam for a year, and 100,000 Vietnamese Dong was worth around $5. I got some 100 Vietnamese Dong notes just for fun, because even they see those as a joke. Few are in circulation because they can't buy anything and when you charge money for things it's better to just round up or down rather than deal with a note "so low" that it's not even in anyone's pocket books.

For reference, 100,000 and 500,000 Vietnamese Dong notes are fairly common (though breaking a 500k note, some cash only shop-keeps would probably be annoyed with you unless you were spending the better part of it). The lowest common note was 1000, though I remember the parking garage at the mall would charge 500 dong to park.
 
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One "issue" in Argentina is that one strategy to fight a bit against inflation is collectively lie about it (which can help) and that involve not printing device with large face value on them, has if the official inflation number would be true and that they were not needed, which end up people needing giant pile of cash to buy anything
 
Might be more compelling if a 1500w space heater didn't cost about $20 at your local Walley World. So, it'd take, what, something like a couple years of continuous 24/7 usage to break even on power costs? Realistically, between actual duty cycle and the vagaries of Bitcoin mining difficulty, I'd bet on the costs asymptotically approaching, but never reaching, the break-even point.

I think I'll pass, thanks.
 
XenIneX said:
Might be more compelling if a 1500w space heater didn't cost about $20 at your local Walley World. So, it'd take, what, something like a couple years of continuous 24/7 usage to break even on power costs? Realistically, between actual duty cycle and the vagaries of Bitcoin mining difficulty, I'd bet on the costs asymptotically approaching, but never reaching, the break-even point.

I think I'll pass, thanks.
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Unless you only plan on selling if/when BTC moons again, youl never fully ROI these.

They gross about $25 a month in BTC currently, and will cost you $167 in electricity to run (using the current Oct '22 US average of $.166/kWh electricity price).

These are basically an S9 (6 year old, inefficient 16nm tech) with a fancy case. The profit margin on these things is insane for such a horribly inefficient asic that looks fancy.
 
Build your own with your old PC parts, put it in your AC air intake (after the filter), turn on the central fan........
Course I don't know how well theirs will mine compared to your own tho.
 
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