Bitcoin Mining

[greekfreak]

We will believe you when you send us that $20k.

Shrubs for everyone!!!

 

[4wanderingeyes]

I will settle for some good shrubs even!

 

[Mibowhunter91]

I first became aware of this when I was contacted by an electric utility that I occasionally do work for. They were approached by some of the "bitcoin miners" who wanted to install buildings full of computers using vast amounts of electricity to solve complex equations. If they were lucky enough to be the first to solve the equations, they would be rewarded in bitcoin as payment. That is basically "bitcoin mining" in a nutshell. Since that time I have done some research, which just makes me shake my head in disbelief. It sounds unreal, but this is already going on at many locations across the planet.

My advice to the power company was to not give them anything free and even make them pay ahead of time for removing all of the facilities that had to be installed. It's amazing when we use real, physical resources to create something that doesn't physically exist.

My cousin is currently working for an electrical outfit they are working all the hours they want doing something for miners? I'm really confused with the whole idea

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[Mortenson]

I think bitcoin mining is a kin to meme farming.

 

[Apple Junkie]

Not too far from me, a bitcoin mining company purchased a moth-balled power generation plant and re-started it. They use the power to run all the computer servers required support the transactions greekfreak refers to. The plant on the shores of Seneca Lake generates 44 megawatts of electricity to power 15,300 servers. This is enough to power 35,000 homes. I’m not well versed on the mechanics of crypto, but it is not cheap, and it is certainly not “green” (unless you make a killing trading it).