[kwlug-disc] Another Humble Bundle: Cryptocurrency

[Ron Singh]

​Yeah, it is all about hash rates and electricity rates.

Thanks,

Ron Singh
"in transit, via mobile comm device"

On Tue, Oct 10, 2017 at 3:44 PM, CrankyOldBugger <crankyoldbugger at gmail.com>
wrote:

> I saw a similar argument regarding solar panels from a guy in Alberta who
> stated "if I lived in Ontario, these panels would have paid for themselves
> by now".
>
> So what I understand from you, Ron, is that bitcoin mining is profitable
> if you don't have to pay Ontario electricity rates..
>
>
>
> On Tue, 10 Oct 2017 at 15:41 Ron Singh <ronsingh149 at gmail.com> wrote:
>
>> I have a friend in Calgary(flat rate of sub.$05/kwh) making $240 with 5
>> of the RX580 video cards. He is happy  with the warming of his house due to
>> the 780w draw of his rig. Mind you, he had 2800 tied up in hardware for his
>> rig. It will take him about a year to recoup his capital costs and perhaps
>> even more time if anything dies right after the 1 year warranty is over on
>> his vid cards. I check my figures for 120v juice and I came up with an
>> average of 17.7 cents/kwh over a 24 hour period in Waterloo with TOU and
>> Hydro One's "Global Adjustment" extortion factored in.
>>
>> I just don't see any payback doing mining in Ontario, especially with the
>> proof of work demanding more gpu cycles as time goes on.
>>
>> A mining farm in Alberta would be the ticket
>>
>> Thanks,
>>
>> Ron Singh
>> "in transit, via mobile comm device"
>>
>> On Tue, Oct 10, 2017 at 3:19 PM, CrankyOldBugger <
>> crankyoldbugger at gmail.com> wrote:
>>
>>> While I'm very curious about bitcoin and related ecurrencies, I have to
>>> ask... is anyone here making any money off of this?
>>>
>>>
>>> On Tue, 10 Oct 2017 at 14:23 bob+kwlug at softscape.ca <
>>> bob+kwlug at softscape.ca> wrote:
>>>
>>>> I am not affiliated and saddened that simply buying the books does not
>>>> load them into my brain, but if anyone is interested:
>>>>
>>>> https://www.humblebundle.com/books/bitcoin-cryptocurrency-books
>>>>
>>>>
>>>> Bob.
>>>>
>>>>
>>>>
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