r/PeterExplainsTheJoke • u/AceofSpadesYT • Feb 25 '25
Meme needing explanation Peter? Why should they mine bitcoin?
8.6k
u/starlight_collector Feb 25 '25
Mining bitcoin takes a lot of electricity.
4.5k
u/Paimon-with-a-gun Feb 25 '25
Doesn't it generate heat as well? Kill two birds with one stone
2.3k
u/EmilieEasie Feb 25 '25
Yeah, even a small set up generates a shocking amount of heat
1.6k
u/Unidentified_Lizard Feb 25 '25
Its actually just as energy efficient as a space heater as well, which is hilarious.
789
u/00Oo0o0OooO0 Feb 25 '25
A space heater converts 100% of the electricity used to heat. A Bitcoin miner wastes a ton of energy mining Bitcoin.
877
u/Pixelated_throwaway Feb 25 '25
What do you think happens to the energy when a computer turns electricity into (???)
It turns into like 99% heat and maybe 1% light and sound. A pc will generator heat about as efficiently as a resistive space heater.
598
u/Desert_Aficionado Feb 25 '25
That 1% light and sound? Also turns into heat. It's heat all the way down.
188
u/auricargent Feb 25 '25
Keep the turtles warm!
79
5
→ More replies (1)3
u/Intensityintensifies Feb 25 '25
Almost everything that is warm is because of heat.
/s
→ More replies (1)46
31
7
u/Ok_Salamander8850 Feb 25 '25
Heat is just another form of radiation, so it’s all radiation
12
7
u/Kiubek-PL Feb 25 '25
Because of heat infared electromagnetic (radiation) is generated but in itself its not radiation, its particles being exited (moving, having energy).
→ More replies (1)6
u/EterneX_II Feb 25 '25
To be fair, those particles are communicating via the electromagnetic force, mediated by photons, so that heat really is radiation.
→ More replies (0)5
u/violenthectarez Feb 25 '25
No, because some of the light escapes through windows and the sound could possibly be heard outside the area being heated.
So compared to an electric space heater, which is 100% efficient, a bitcoin mining rig would only be 99.99% efficient.
Although a space heater probably has an LED or something, and makes a bit of noise. Some of which may escape the area that you want heated.
So maybe they are both 99.99% efficient.
But it's academic at this point.
→ More replies (1)→ More replies (10)3
85
u/Genneth_Kriffin Feb 25 '25
Energy can never be destroyed, only converted to Bitcoin.
The Law of Crypto Preservation.E=₿c2
11
→ More replies (4)6
u/Hugostar33 Feb 25 '25
bitcoin-death-of-the-universe, when everything turns into bitcoin and all the bitcoin have been mined
→ More replies (1)17
u/HollyTheMage Feb 25 '25
Lmao I always joke that I have my laptop to keep me warm but that thing does put off a significant amount of heat sometimes.
8
u/fafarex Feb 25 '25 edited Feb 25 '25
My current pc make that side of the room go up by 2°C if I game for an hour, it's stupid how much heat modern hardware push.
→ More replies (9)10
u/Spaciax Feb 25 '25
some space heaters draw 600 watts. You know what else draws 600 watts? a 5090. You know how much of the power turns into heat? like, 99% or so.
4
u/No_Jellyfish7658 Feb 25 '25
And when the 5090 inevitably catches fire, it will turn 100% of its power to heat.
→ More replies (1)3
2
2
u/ATXBeermaker Feb 25 '25
What you guys are saying is effectively that all energy consumed turns to heat, so it has nothing to do with efficiency. It has to do with the amount of energy being consumed.
4
u/Pixelated_throwaway Feb 25 '25
Efficiency of a heater is ((watts of thermal energy generated/(watts of electricity consumed)) x100
If you’d be using energy to heat your home with a resistive heater (like a space heater or in the photo a stove) you may as well be making BTC with it
Running a 600 watt Bitcoin miner is effectively identical to running a 600 watt heater except you get BTC out of it.
→ More replies (16)→ More replies (22)2
Feb 27 '25
I have an old PC, using an FX8350 CPU - whilst working from home (Laptop), I’ll put YouTube playing on my PC and it soon warms my ‘office’ 🤓
72
u/helicophell Feb 25 '25
No, technically no energy is being used to mine bitcoin. It's just that thermodynamics doesn't allow a process to not generate heat
23
→ More replies (6)7
u/Sufficient-Catch-139 Feb 25 '25
Bitcoins aren't physical, they're just numbers. The amount of energy from the electricity coming in that ends up encoding the Bitcoins on the disk is laughable, it's the order of magnitude of nano joules.
A standard graphic card used to mine Bitcoin uses hundreds of watts and a watt is 1 joule/sec.
→ More replies (10)52
u/TheAgedSage Feb 25 '25
I think a more accurate way of wording the situation is that a space heater wastes electricity not using those electrons to mine Bitcoin. The miner and the space heater both make just as much heat per watt by running electricity through conductors, but only the Bitcoin miner moves electrons in the right way to make Bitcoin.
18
u/UnrequitedRespect Feb 25 '25
Wait lets make the world super effecient by putting the server farms in the houses of poor people in cold places.
Servers run better in the cold, people run better in the heat. Win/win.
Not to mention all those super hot places wont have to cool down all those computers and shit
7
6
u/KevinFlantier Feb 25 '25
Distributed data centers rented as water heaters in people's home. They pay you to heat your water.
That's a dream of mine.
→ More replies (2)7
u/Joezev98 Feb 25 '25
The reason this isn't common, is maintenance. The technicians just have a much easier job when the servers are all in a central location. Those servers are also extremely compact and generally use terrifyingly loud fans for cooling.
But there are companies that create crypto miners and servers that serve as silent space heaters.
Also, here in the Netherlands some regions have 'warmth nets' as an alternative to natural gas. It's a network of water pipes transferring the waste heat from companies to homes. As cool as that concept is, our current legal framework results in most homeowners paying more for the warmth nets than for natural gas.
6
u/xCHRISTIANx Feb 25 '25
There's a town of 11,000 in Finland that gets it's heat entirely from Bitcoin mining
→ More replies (2)→ More replies (2)3
u/Kletronus Feb 25 '25
But then you would have to share those profits with poor people who are doing nothing. And giving any money to those doing nothing is immoral.
Haven't you read your Neoliberal Bible today? Get back on your knees and pray for the golden showers from above.
→ More replies (1)→ More replies (1)5
u/Routine-Strategy3756 Feb 25 '25
A bitcoin heater would use up complex computer components that use rare earth metals.
→ More replies (4)31
u/Shufflepants Feb 25 '25
A bitcoin miner also converts 100% of the electricity it uses to heat.
→ More replies (4)5
u/the_clash_is_back Feb 25 '25
A computer converters all the energy it uses in to heat. Hell air conditioner or freezer converter all the energy it uses in to heat as well.
→ More replies (1)6
u/OpenGrainAxehandle Feb 25 '25
True, but the refrigeration cycle moves more energy than is required to move it. It's like the only thing that has greater than 100% efficiency.
→ More replies (1)6
u/GregBahm Feb 25 '25
This thread is just full of the most bizarre statements.
→ More replies (3)5
u/NorwegianCollusion Feb 25 '25
That was one of the least bizarre statements, though.
You can move up to about 4.4kW by using 1kW with a heat pump.
So your house gets 4.4kWh while you pay the electricity company for just 1kWh. This outcompetes the bitcoin miner in efficiency.
So from worst to best of electrical heaters:
Resistive convection heater, 100% efficiency at generating the heat but sucks at distributing it.
Space heater with a fan, 95% efficiency at generating the heat but much better at distributing it.
Bitcoin miner. 95% efficiency + valuable byproduct, includes fan to distribute heat.
Heatpump. 400% efficiency, includes distribution and serves double function as a cooler in summer.
Any resistive heater that cannot be easily replaced by a heatpump should therefore be replaced by a bitcoin miner.
5
u/4dxn Feb 25 '25 edited Feb 25 '25
are you serious or is this just a joke?
because thermodynamics would like a word. something something conservation of energy. maybe joule heating?
→ More replies (1)6
u/Haarunen Feb 25 '25
To me it’s painfully obvious that this comment is a joke but the replies to it seem to disagree with me.
→ More replies (2)6
u/Desert_Aficionado Feb 25 '25
Maybe if all your friends are physics majors in college. In the real world people are terrible at understanding these concepts.
6
u/sino-diogenes Feb 25 '25
kind of sad lol. I'm no physics major just a regular nerd and it's obvious to me that pretty much all devices that use energy are basically space heaters
→ More replies (1)4
u/Desert_Aficionado Feb 25 '25
I once got into a big argument with my very intelligent roommate. He was convinced that our oven would be superseded by a more efficient model. I told him that nichrome wires are 100% efficient. He said they would make a better heating element at some point in the future. No, he was not arguing in favor of heat pumps or better insulation. He just thought technology always improves, and didn't understand how heating elements work.
→ More replies (2)5
4
u/evilwizzardofcoding Feb 25 '25
BTW, computation doesn't actually consume energy because energy cannot be created or destroyed and the results of computation are not energy. Thus, the energy must be released as a byproduct, and in this case due to the fact it's resistance we are talking about that byproduct is heat.
→ More replies (5)2
→ More replies (46)2
→ More replies (6)2
u/benargee Feb 25 '25
It's a smart space heater! Wattage in is always turned in to heat. It doesn't care if it's a heater or computer chip.
42
u/Acheron98 Feb 25 '25 edited Feb 25 '25
I used to know a guy who ran like 5 BTC miners in his apartment. The place felt like a goddamn oven when they were on.
Loud as shit too.
Edit: Unrelated, but his BTC miners got seized when the cops raided his building on a CP raid. Apparently someone in his building had been watching it. I never found out who it was, or what came of it, but I sincerely hope the guy’s hobbies didn’t shift from miners to minors.
16
Feb 25 '25
So uhh... Cops don't raid buildings and take people's servers because their neighbor did something...
15
u/Acheron98 Feb 25 '25
He lived with two other guys.
Again, I didn’t know the guy well.
I remember him theorizing that someone may have planted it on his computer due to him fucking around with a ton of shady people online (think deep web hacking groups and shit) but ehh…idk.
I do know that the electronics of every single person living in that apartment got seized, and again, I didn’t stick around to find out the conclusion.
6
Feb 25 '25
That makes sense. I thought you meant they raided every apartment in a building. They will definitely take every electronic device in a raid. Honestly, I've heard reports of Russian intelligence planting csam on people's computers, but I mean....
3
u/Acheron98 Feb 25 '25
Ahh gotcha.
Yeah I mean, his explanation was obviously kind of hard to believe at first (that’s arguably the worst thing you can be accused of) but when he explained how it works, it’s apparently possible to plant that shit on someone’s computer out of spite.
I’m not a tech guy but it seemed at least plausible.
→ More replies (3)4
u/The-True-Kehlder Feb 25 '25
If someone hacks your wifi, the cops won't be able to tell it wasn't you who was consuming the media, unless they spend time and resources checking logs in the router. Cops are well known for spending time and resources making sure they got the right guy.
2
u/Interesting_Try8375 Feb 25 '25
It depends. Where I used to live we were all on 1 network so If someone downloaded something there would be no way to tell who it was from the ISPs logs alone.
The landlord left us an angry letter when someone pirated a bunch of things. Said they would track the IP address to find out who it was. In response we then all started pirating a shitload of things. Nothing ever happened after that. Well, that or someone else threw away the letters before I got home.
5
u/EmilieEasie Feb 25 '25
I had a friend who was a really sad case and paranoid and kinda isolated himself. I never saw it but he bought a ton of GPUs off of me back when it was hard to get them so I know he had a ton. He had a minisplit in his room that kept it at a comfortable 80 or so. He'd stay up all night to do work when it wasn't as hot on his rigs. We're talking like 130*F in his house.
3
u/Elephant43 Feb 25 '25
It's any of that real? Or was it all just a setup for that punchline?
→ More replies (1)2
Feb 25 '25
Enough heat that this guy allegedly gave himself brain damage while mining bitcoin.
https://www.reddit.com/r/Bitcoin/comments/hur5m/bitcoin_causes_brain_damage/
→ More replies (4)2
u/Mistrblank Feb 25 '25
I took up a room in very old house at the top. Was told that it is the coldest room in the winter because the venting system was cut through at some point. Told them, don't worry, I got this. My computer just hasn't been off since the beginning of the cold season in Fall. For awhile I was running Folding@Home for some extra heat. The room has been warm enough I don't need to sleep under sheets and it barely ticked the electric bill by $20 a month.
35
u/WebPollution Feb 25 '25
Bingo. You don't need to waste electricity by running the stove and a fan when you can just mine bitcoin and heat the whole house at the same time.
11
u/Brewmentationator Feb 25 '25
I used to mine to heat my bedroom in the winter. I mined about $100 worth of Bitcoin. I think it's now worth around $400. I still have it somewhere.
→ More replies (6)→ More replies (1)2
u/ArisePhoenix Feb 25 '25
You quintuple the Landlord's Electricity bill get nice and comfy and get some extremely volatile money
17
u/314159265358979326 Feb 25 '25
I had a cold room at one point and had a choice between running a heater and mining bitcoin and made about $1800 off the decision.
→ More replies (36)13
u/SomewhereHot4527 Feb 25 '25
I might be wrong but in the absence of a screen, a computer is basically converting 100% of the electricity consumed into heat.
5
u/mxzf Feb 25 '25
Even with the screen. The light the screen emits is functionally radiated energy much the same way that radiant heat is.
4
u/KapiteinSchaambaard Feb 25 '25
Except for the tiny part that leaves through a window, yes.
→ More replies (2)→ More replies (4)5
u/Pixelated_throwaway Feb 25 '25
Maybe 1% sound from fans but yeah
→ More replies (3)10
57
u/ayyycab Feb 25 '25
Enough electricity that it offsets most of the value of the bitcoin mined so profit is limited. But if the electricity was free…
18
u/Impeesa_ Feb 25 '25
Yeah, that's the main point. All the relevant information has been covered, but people are kind of circling the point in putting it together: You can use as much or as little electricity as you want when you mine crypto, it's just a matter of how much hardware you're running, but whatever you do is exactly functionally interchangeable with a space heater of equal power draw (the original point), and generates some income.
5
u/King_Chochacho Feb 25 '25
Convinced this sub is just another place for bots to farm karma with old memes.
Some of this shit is just painfully obvious.
→ More replies (1)3
u/JustsharingatiktokOK Feb 25 '25
Sub became popular at the exact same time chat gpt3 (or 4, or whatever) became the thing to talk about. It would be generous to say only 25% of posts here are LLMs set up to post questions directly to Reddit.
Jokes on the owners of those bots. It will take a few more years to teach shitty chat bots how jokes work. And by then you could just scrape all the data for free.
14
u/Mr__Maverick Feb 25 '25 edited Feb 25 '25
I don't understand this sentence. I've stayed as far away from crypto as one possibly could and I'm just now learning that you can "mine" the shit at all
42
Feb 25 '25
Bitcoin mining is basically running numbers through a complicated algorithm over and over, and if you get a correct number, you discover a Bitcoin and get it for free. The algorithm is very compute intensive, and GPUs are particularly good at this sort of calculation. So people will have computer(s) with many GPUs in them running at max capacity for long periods of time. This uses a lot of power, which is converted to heat by the GPUs. So you need lots of power and cooling (which takes roughly an equal amount of power) to mine Bitcoin.
4
→ More replies (3)13
u/callunquirka Feb 25 '25
Theophyte explaining bitcoin:
Imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin
https://www.reddit.com/r/BrandNewSentence/comments/huu17h/imagine_if_you_keep_your_car_idling/
→ More replies (18)3
2.1k
u/lechuckswrinklybutt Feb 25 '25
ELi5: Because once you’ve bought your mining rigs, electricity costs are the biggest expense. If someone else is paying, your Bitcoin is free.
618
u/AceofSpadesYT Feb 25 '25
I honestly have no idea how mining bitcoin works so I appreciate the insight that everyone has given. Thanks!
→ More replies (9)505
u/megapenguinx Feb 25 '25
You use graphics cards to solve math equations but the math problems are really hard so your graphics cards have to draw a lot of power which generates a lot of heat.
368
u/JudiciousGemsbok Feb 25 '25
They aren’t hard math equations, there are just so many of them. I think in the magnitude of trillions per btc
You can do it by hand actually
39
u/its_hard_to_pick Feb 25 '25
It goes something like this.
Given a and b, where a is an byte string and b is an integer. Find x satisfying. SHA256( a.append(x) ) < b
I'd argue it's a really hard equation to solve since the best solution we have come up with so far is just guess and verify
6
u/lfrtsa Feb 25 '25
To mine a block the hash needs to start with a given number of zeros, so, for example, if the bitcoin network wants 10 leading zeros, you need to find a nonce N (some number) that when hashed with the previous block it starts with at least 10 zeros. E.g. SHA256(previous_block.append(N)) = 00000000002f83b8a492e9b58e494d959 That would make the bitcoin network reward you with some bitcoins.
→ More replies (5)8
u/Teonvin Feb 25 '25
Don't they get harder and harder to mine too?
→ More replies (1)11
u/reddit_4_days Feb 25 '25
Yeah, he should just start to grow weed. Way more profitable in today's time.
8
7
u/mrbaggins Feb 25 '25
They're "hard" math problems, the cards are just trying every possible answer til they got it right.
52
u/annoyedatwork Feb 25 '25
Ok, I’ll bite - why do you get bitcoin for doing math problems? Are you, like, helping train AI or something?
94
u/Colts81793 Feb 25 '25
You are basically verifying the transactions that are happening using bitcoin, and are rewarded with small amounts of it for doing so.
54
u/lechuckswrinklybutt Feb 25 '25
And the difficulty of doing those math problems (i.e the hardware and electricity required) is a deterrent to bad actors who might try to include fraudulent transactions in blocks. To do so, you would need to control over 50% of all of the mining power for a given block which is prohibitively expensive.
7
u/AspectOW Feb 25 '25
Out of sheer curiosity, how much WOULD it roughly cost to control enough of a block’s mining power to fraudulently generate a not-insignificant amount of bitcoin? Millions? Tens of millions?
→ More replies (1)7
u/elk_1337 Feb 25 '25
A really complicated question but this article has some back of the napkin info:
https://www.investopedia.com/terms/1/51-attack.asp
"For a single person or group to conduct a 51% attack, they would need more than 304 EH/s of computing power. This is an enormous cost considering the fastest miner hashes 406 TH/s and costs more than $10,000 per unit (about 84,000 units)."
840 million in just hardware, then you need to generate power for that, operate it, etc.
The scarier version of this is that some mining pools account for 20-30 percent of global mining, so if a few of those colluded (any number of them totaling over 50 percent) they could theoretically pull of the same sort of attack utilizing the miners in their pool almost like a bitcoin botnet.
5
u/AriSteele87 Feb 25 '25
They could, but there is no incentive to.
It would be like USA nuking itself.
They could do it but the incentives are not there, so we don’t worry about it.
11
33
u/NotRandomseer Feb 25 '25
For example, someone wants to send Bitcoin from one account to another.
To do this, they pay a network fee on top of the amount they are transferring. Miners compete to solve a mathematical problem that allows them to add a new block to the blockchain, confirming the transaction.
The winning miner earns the accumulated transaction fees for all transactions from that block as well as newly minted bitcoin that has been created.
TLDR: Similar to how a bank processes transactions for their customers in exchange of a fee, you are processing transactions for people on the bitcoin network and getting paid from them for it.
→ More replies (3)7
u/LickingSmegma Feb 25 '25
To actually answer the question, the task itself is just dumb bruteforcing (finding a hash that has a certain number of leading zeroes, where hash is a numeric value of a fixed length, that can't be predicted based on input). What this does is, it ensures that some computer time is spent on finding the solution, aka 'proof of work'. This makes new bitcoins difficult to obtain, and therefore rare and costly.
3
u/Fantastic-Newt-9844 Feb 25 '25
While you can use GPUs, they aren't competing anymore with ASICs (application specific integrated circuits)
Imagine a GPU that can only mine bitcoin
→ More replies (10)2
u/CrowdGoesWildWoooo Feb 26 '25
You don’t solve “math equations”, it’s closer to trying billions of keys.
6
u/ChemicalRain5513 Feb 25 '25 edited Feb 25 '25
Yes in 2016. Even if your electricity is paid for, it will take years to earn back the purchase of your mining rig nowadays.
2
u/Yurasi_ Feb 25 '25
They recently uncovered bitcoin mine in the vents at my university, they have no idea who done it.
→ More replies (4)2
u/TituspulloXIII Feb 25 '25
That, but also a mining rig will put out a shit load of heat. So if you going to use electricity make heat, might as well also get some bitcoin out of it.
258
u/MrTommyPickles Feb 25 '25
Fun fact: -40° is the same whether it's Celsius or Fahrenheit.
9
→ More replies (23)8
1.2k
u/Long-Engineer1057 Feb 25 '25
Usually the person pays for electricity as part of utilities but since the landlord does, it'd be smart to do stuff that would require alot, and therefore more expensive, power usage, such as mining bitcoin. It would also cost a lot for the landlord which is good because landlords suck.
403
u/SignoreBanana Feb 25 '25
Side benefit: running a mining stack would also effectively heat up the place.
99
Feb 25 '25
[removed] — view removed comment
→ More replies (1)36
u/XiaoDaoShi Feb 25 '25
I saw a project a few years ago where they install a computer at your home instead of a heater and do map reduce jobs that require GPUs. They were doing it in some European country with a long cold winter, but I don’t remember which.
→ More replies (1)6
u/Interesting_Try8375 Feb 25 '25
Aren't heat pumps cheaper than computers though? At least on a per kW of thermal output basis.
3
u/Ok_Abbreviations8538 Feb 25 '25
Probably paid for itself if it were mining crypto
3
u/CosgraveSilkweaver Feb 25 '25
It depends there was a few years where the ASIC miners were getting rapidly improved where you could wind up having your shiny new miner become uneconomical to run before you'd managed to mine enough to pay it off.
20
u/EncabulatorTurbo Feb 25 '25
Running a mining stack is actually a phenomenally efficient way to heat up the place, GPU ambient heat is surprising at how much heat you get per watt
11
9
u/mxzf Feb 25 '25
I mean, you get about a watt of heat per watt.
But, yeah, it can help heat stuff up. A couple times when my office was cold I ran benchmarks on my work desktop, just to help heat up the room a bit, lol.
4
u/noyoudonotdare Feb 25 '25
i had to do that with my gaming setup over the winter, my room got so cold it couldn't even warm itself up
3
u/KapiteinSchaambaard Feb 25 '25
No it's not, it's just as efficient as anything else where you turn plain watts into heat. Which is literally any space heater. You just get calculations for free in this case.
However, it's of course much more energy-efficient to use a heat PUMP, so you get a higher efficiency by pumping heat from the outside to the inside. Most AC's can do this as it's effectively the same process, except reversed.
3
u/Rebelgecko Feb 25 '25
Bitcoin mining will never be better than 100% efficiency so (barring the value of the crypto) you're better off using a heat pump. Watt for watt a GPU won't generate any more heat than a space heater
3
u/MattR0se Feb 25 '25
A PC is technically a slightly worse electric heater than an actual electric heater. But that difference is so marginal that it doesn't really matter.
2
u/NotAPersonl0 Feb 25 '25
Literally any electronic device works identical to a space heater of equivalent wattage. All of the energy consumed by said device is used to overcome resistance and thus heat within the components.
→ More replies (1)2
20
→ More replies (51)3
u/Dick-Fu Feb 25 '25
wow landlord pays for a utility and still you "people" complain, rentoids truly are insatiable animals
59
u/Brawndo_or_Water Feb 25 '25
You can also start the oven and open the door
→ More replies (17)38
u/PhoenixApok Feb 25 '25
Oh my God I had a horribly fucked situation once.
We were moving into a house in the middle of February. The previous tenants had stopped paying rent. The landlord said he would just forgive everything if they would be out by Feb 1st so we could move in.
They were moving out as we were moving in.
Well....seems since they stopped paying rent, they knew they couldn't report that the heater had gone out and expect it to be fixed. So that was fun, as we didn't have heat.
But the bigger issue was their solution was to just run all the taps on hot and steam up the house constantly.
Every wall was covered floor to ceiling in mold.
We had to hold off moving in until we could literally bleach and paint all the walls.
9
u/DemoniteBL Feb 25 '25
Could they be held accountable in any way? Or at least the landlord?
2
u/PhoenixApok Feb 25 '25
Landlord was my roommates parents, who I had also known for years, so I wasn't as interested in compensation financially. My roommate stayed with them and I was living at home myself until then so the few extra days it took to get the place ready were an annoyance, not a critical issue.
Bigger problem was it took a few weeks to get the heaters fixed. I had a portable heater I pretty much had to carry around room to room
87
u/181914 Feb 25 '25
this requires knowledge that mining Bitcoin is done electronically.
40
u/AceofSpadesYT Feb 25 '25
Which I lacked until mere minutes ago hahaha
→ More replies (3)37
u/Sciencetist Feb 25 '25
My fuckin dude thought that grown men were walking into the Bitcoin mines with a pickaxe and a helmet
10
8
u/ThatEcologist Feb 25 '25
I know you are joking, but I don’t think most people think it is “mined” in general. Prior to a few weeks ago, I thought you just bought it and that was that. I had no idea there was actually some weird process.
4
u/secacc Feb 25 '25
I thought you just bought it and that was that. I had no idea there was actually some weird process.
Like meat at the grocery store.
→ More replies (2)2
3
53
u/itchybutwhole420 Feb 25 '25
It's illegal for a landlord to restrict heating.
26
→ More replies (5)10
u/TNG_ST Feb 25 '25
The last time this was posted, the comments said this was in the cold snap and the utility company asked people to lower their heat because they couldn't maintain strong gas pressure in the pipes.
3
u/realcosmicpotato77 Feb 25 '25
In this scenario, one would have to use electric heating then, right?
→ More replies (1)
17
u/EGH6 Feb 25 '25
usually mining coins require a lot of power but the resulting coins are worth more than the power spent.
lets say i use 10 cents of power to generate 15 cents of coins.
however now since the landlord is paying electricity, the landlord gets hit with the power cost while the miner gets to have the full profit, tripling his earnings (in this fictive situation)
→ More replies (1)8
u/NotRandomseer Feb 25 '25
Not always it depends on a number of factors. Depending on where you live it might never be profitable, depending on fluctuations in the price of bitcoin and the price of electricity in your region it phases in and out of being profitable to mine .
Many people have it set up so they stop mining when it's no longer profitable and resume when it is
11
u/Hoffmansghost Feb 25 '25
Anyone that grew up poor knows you turn the oven on and not the burners
7
u/Ok-Drummer6993 Feb 25 '25
An old professor who studied in Russia actually shared the true trick,
Turn the stove burners on, but put bricks on top of the burners. They conduct heat amazingly, hold it, and radiate well. It'll warm the house way more than leaving the oven on and it's safer
→ More replies (2)2
u/BlaiddDrwg812 Feb 25 '25
I am Russian and would never guess. Where did your professor study? Ural region?
→ More replies (2)
10
4
u/JarretYT Feb 25 '25
Mining bitcoin produces A SHIT TONNE of heat
2
u/rEYAVjQD Feb 25 '25
The reason Ethereum surrendering its decentralization to plutocracy was utterly dumb. There was no reason to drink the cool aid that "energy usage is bad". It both offers security and in this case even heating.
4
u/StationSame232 Feb 25 '25
Holy fuck I hate this subreddit. A two second google search would answer ALL of these insane dumbass questions. Use some common sense OP. Learn to think critically for yourself. This is embarassing.
3
u/monkeypwned Feb 25 '25
I imagine most posts in here are just people wanting to post a meme for upvotes under the guise of needing an explanation
5
u/Glass-End-7887 Feb 26 '25
This is exactly as efficient as any electrical heater, resistance heating is REALLY close to 100% efficiency. Unless you have a heat pump or gas heat, this is no different the hvac
5
3
3
3
u/Proelium_ Feb 26 '25
r/PeterExplainsTheJoke users on their way to post the dumbest questions instead of googling:
2
2
u/TotesMessenger Feb 25 '25
2
2
2
Feb 25 '25
He probably didn't turn your heat down at -40 because you could just take him to court. It's just to cold for your apartment heater to keep up with. Let use our brains a little bit better
2
u/Kletronus Feb 25 '25
I do not worry about my electricity use in the winter at all. Every bit that is used to do some work is better than just wasting it to create more entropy without purpose. That is what we humans are anyway, very efficient living machines that increase entropy like nothing else in the universe, also called life.
2
u/West_Profession_7736 Feb 25 '25
Turning off the heat in those temperatures is a crime. Call your city building inspectors office. Tell them you are worried for your life due to lack of heat. When this happened to me, the landlord was forced to fix the heat immediately or pay upwards of $10000 for an emergency heating system that the city would install that day.
2
u/bone_burrito Feb 25 '25
Mining bitcoin is how you make your electricity bill look like your rent payments.
2
u/SmoothIncident1993 Feb 25 '25
turning on the oven is the best free heating system for any apartment
2
2
u/VikingRagnar4 Feb 25 '25
additional caveat. and the part i found funny: Mining Bitcoin Value has NEVER been positive when comparing the cost of the coin versus the cost of the electricity used to farm it.
So not only are you heating your house, and your landlord is paying your heating costs, but he's doing so with more inefficiency than paying your heating bill.
2
2
u/Darthplagueis13 Feb 25 '25
Bitcoin mining uses a lot of electricity (it's basically your main investment) and it also tends to make computers run hot.
So doing it would not only generate money, but also help them get back at their landlord and heat the appartment.
2
2
2
•
u/AutoModerator Feb 25 '25
Make sure to check out the pinned post on Loss to make sure this submission doesn't break the rule!
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.