Bitcoin is the Alpha; Bitcoin is the Omega.
Electric heating is 100% efficient.
I had to look up this fact multiple times before it really started to sink in.
https://www.energy.gov/energysaver/home-heating-systems/electric-resistance-heating
Electric resistance heating is 100% energy efficient in the sense that all the incoming electric energy is converted to heat. However, most electricity is produced from coal, gas, or oil generators that convert only about 30% of the fuel's energy into electricity.
Whenever you turn on any electrical appliance, the only electricity consumed in the process of operation is lost through resistance and converted into heat. This fun little fact has massive implications.
It is fitting that Omega is the symbol for resistance (ohms). Omega is the last letter of the Greek alphabet and often used as a metaphor for the end. Bitcoin is the beginning of the end for central banking.
Whether they like it or not, blockchain is coming for them. At first, they were in denial, but now they are confused, afraid, and lashing out. You don't oppose something with so much effort if it means nothing to you.
Kick it up a notch!
One of the big arguments against Bitcoin is that it "wastes energy". Yeah, most of us here know that this is ridiculous, but it might even be more ridiculous than you've considered.
All of that electricity being used to mine Bitcoin is being turned into heat. What happens to all this heat we are producing? The vast majority of it is being wasted. What happens when we stop wasting that heat?
Fried Green Bitcoin
What happens when:
warehouses filled with mining equipment are used to power generators to reclaim some of the energy lost?
homes start being outfitted with with central heating using mining equipment?
The answer is very simple: More decentralization. You can't repurpose the heat lost when all the mining equipment is centralized in a warehouse. However, every person I know has two things:
- Electric Heating
- An Internet Connection
These two variables make a lot of people candidates for Bitcoin heating. If you were going to spend the money to heat your house anyway, why wouldn't you also mine Bitcoin? Seems like a no-brainer. It doesn't even matter if you had old equipment with low hash power... because again... you were going to spend the money anyway. Mining Bitcoin is just icing on the cake.
All these bears are talking about how Bitcoin is going to die because mining is no longer profitable. Death spiral, yada yada yada. WRONG! It only becomes not profitable because the heat is being foolishly squandered and dissipates into the atmosphere.
I am not the first person to have this idea. It's already happening.
Bitcoin is going to make living in colder areas more desirable because you can save money on rent and actually make money heating the home.
Renewable energy
Bitcoin is also leading the way when it comes to finding cheap energy. If you can turn energy into money, obviously finding cheap energy is paramount.
Bitcoin allows anyone to start a solar power farm in the middle of the desert. Infrastructure used to be an issue. Are you going to have to build your own power lines? Once you have your solar power farm in the middle of the desert, how are you going to sell that energy? Make a deal with the current monopolies that control everything? No, thanks. That's a regulation nightmare and you'll have zero leverage in that situation.
Being able to have the option of converting the energy on-site into money is revolutionary. It gives groups the financial leverage required to produce renewable energy in areas never before possible. "Oh, you refuse to buy my energy for XYZ? Fine I'll just mine Bitcoin."
Again, how much does renewable energy cost? Once you've paid off the overhead: zero. These kinds of projects will only become more financially viable over time and we have proof-of-work to thank for that.
The tipping point is coming soon™.
P.S.
So apparently I have unknowingly quoted the Bible.
Revelations 22:
12. “Behold, I am coming quickly, and My reward is with Me, to give to each one according to what he has done.
13. I am the Alpha and the Omega, the First and the Last, the Beginning and the End.”
I just remembered that on Dec 25, 2017 I did a thought-experiment for Satoshi Nakamoto being Jesus.
Bahahahahaaaa
What the miners need is my...
S.T.G.!!!
Simplified Tesla Generator. Over-Unity Electronic Electrical Generator ;-)
See you around the
D🐬C @edicted
Who is this masked wonder?
oh, think "Undy-Bot"
😎
!gif boobs
There are already a few people who are heating their houses with their mining equipment.
You can't really use mining equipment heat to power any turbines (to make more electricity) the heat is too low of grade. However, if you find a substance that boils at the CPU temperatures and recombines in air temperatures, you can use that to make all kinds of electricity. Just got to find it.
In the future, just about everyone will be mining bitcoins. And not on special devices, but on EVERY device. It will be like gold prospecting. People will be doing it so that they will have something that farmers will exchange for food.
Electric motors are not 100% efficient in the manner you said. There is loss in magnetics. Electric motors spin at 1750 rpms as opposed to 1800 rpm like the frequency provided. That loss is called slip. And some electricity disappears.
Of course you are correct that an electric heater is 100% efficient.
Of course, of course, the burning of the coal for heat is far better than burning it for heat -> electricity -> heat.
And far better renewable energy is on the horizon, as you say.
I was looking more along the lines of Thermoelectric generators, but again I don't know if it's viable.
In that case it all about the difference between the hot and the cold.
What is nice, and warming to humans is actually a very small change in absolute scale.
Its not that it isn't theoretically possible, its that it is practically impossible.
Yeah I was just spitballing ideas. Clearly, heating homes is a smarter way to go because it's decentralized and all that heat was going to be generated anyway.
Synchronous Motors spin at 3600 RPM in the US, and 3000 RPM in the 50Hz countries. 1800 is "Half-Synchronous" because the motor has 2 sets of poles to increase torque and cut speed in half...
😉 😊
Yep, absolutely correct, but can you explain the slip in induction motors?
I'd say it is due to degradation of the original design by Mr. Tesla, but that is likely incorrect. Other than that it is the slewing of the magnetic fields in the composite rotors and the slip turns to heat.
SOLAR over HEAT PUMP over Turbine
8-D
@holoz0r does this every Winter.
46C here yesterday though. Hottest Adelaide day in over a century.
If my internet connection wasn't so incredibly bad, I'd already have one of these
If I wasn't poor I'd have 10 miners running behind me :D
Technology in the energy space continues to evolve as well and as bitcoin grows in adoption, it will benefit the network with security from decentralization. Many efforts will be made to make it as efficient as possible as most mining operations (no matter the resource) have been able to experience over history.
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