Yeah, it's spitting in the ocean but point is to play with mining I guess. Just not obvious to me yet what is best way to use it. I'll tag nostr:npub16vzjeglr653mrmyqvu0trwaq29az753wr9th3hyrm5p63kz2zu8qzumhgd in case he has some ideas. Seems silly to mine with a pool for zero ϟ instead of like 40 ϟ a day or so
Discussion
Totally makes sense, And that's a good idea. I think it's a good start. If America can start manufacturing chips and other hardware that would really accelerate the industry imo. Increase power decrease price. Buttaxe is like "here's a car with 200mpg, but you can only drive it 5 miles a day" lol
I understand the math enough to know it's burning money, but the value is the learning and it's a fun conversation piece and item to look at. Mining in earnest is not an option for me for a variety of reasons, with cost of electricity being high in the list 🤷♀️
I completely agree and understand. Learn but maybe not earn.
What do be your thoughts on Knots and Core?
I assume you mean more broadly on op return and not the two implementations.
Mine? lol, they don't matter and I haven't done enough considering to have a strong opinion yet. I find myself agreeing with any well laid out argument made at this point (very uncool, I know).
ATM lean toward being annoyed with core. Leave the default alone, and keep option available. Faster block propagation times seem like a more sound argument than fee estimation for what they're doing (honestly don't personally care about fee estimation right now). But haven't seen any hard numbers on the impact of fragmented mempool on block prop speed. Is it minor, very big? How many seconds we taking about on average?
Yeah I mean about running nodes, not necessarily miners. I think the removal of configuration options is the red flag.
Yes. I don't appreciate the use of soft power to change things. Hope I partially answered your question. Hard to get into details much on phone typing interface
Totally, I just wanted to hear your side
Yeah, sticking point for me is still that I'd like impact quantified. I suspect it's negligible delays on block propagation, so impact to small miners isn't that big a deal, and the whole miner centralization argument hinges on this as far as I can tell. Fees shmees, nobody cares (maybe lightning heavy users do...not sure).
Yeah I feel like a lot of dorks are missing the forest in the trees with that stuff. Like fucking relax, maybe I'll change my mind when I have larger transactions but I still use on chain and wait for low fees sometimes. Like Bro at least it isn't ACH taking days to clear or having weekends and holidays off.
Which leaves utxo bloat the issue, I guess. Here I'm too ignorant to say much. I know some stuff would likely move over to op return which can be pruned, so improves health of utxo growth rate, but trade off is relaying spam more. I don't know that this would even be a lasting equilibrium, and that other types of spam wouldn't come back to utxo set later. Sigh...🤷♂️
I feel like the bigger thing is Bitcoin being accepted by merchants and government adoption. Otherwise just stay humble and stack sats
And yeah why wouldn't Core be the most default most neutral?
Yeah it's currently just a hobby. ASIC space heaters are closer than you think. The real revolution won't start until we get the first popular heating appliance combined with ergonomic payouts.
Have never understood the heating use case very well. Is it really the case that running a machine designed for something other than pure heating could be more economical? Clearly, since heaters today aren't built to hash, hashing hardware itself isn't most efficient way to produce heat, so the claim must be that the income from bolting on this unnecessary computer stuff offsets the added inefficiency and cost modifying heaters into miners has. Guess it's possible, but something smells off on it to me
Ie, buy a heater and spend savings on buying BTC seems like it'd be better strategy.
Anyway, just rambling. Thanks
This depends on the heater. All heaters have varying degrees of efficiency in terms of BTU of heat output per watt of energy input.
Lots of electric heat sources like space heaters are just a fat resistor with an electric charge getting converted directly to heat and a fan to blow the heat around. This type is used as a reference efficiency of 1.
A modern heat pump uses electricity to move existing heat from one place to another. These are 3-4 efficiency last I checked based on memory.
All the hash chips in a miner generate heat because they are resisting the flow of electricity, the same as a dumb resistor in a typical space heater. All the electricity goes to the miner hash or to cooling fans. Remember space heaters need fans too though. That means that a miner has the exact same electricity in to BTU out efficiency of 1.
Main building heat is usually heat pump based now due to the higher efficiency.
So the efficiency question is, which type of heater do I have? If it is a resistor and you need less than 60c heated temp then the answer is use a miner and capex payoff from switching is your only issue. Your opex doesn't change.
If you are replacing a heat pump it is harder to calculate. You get roughly 4x the electric bill opex per BTU, so your costofmining = .75*electricityrate is that a profitable cost of electricity to mine with your miner? Don't forget to include your capex in your calculation.
Wasn't aware of these distinctions. Thanks. Puts a whole different paint job on things...
So capex aside, space heater mining for normal home use case, is free mining? Just making sure I didn't grossly misunderstand