dc10lover
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Bitcoin Mining Boom Hits Small Town In Washington State

Sat Jan 13, 2018 9:45 am

A small town in Washington, Wenatchee, is seeing a Bitcoin mining boom due to low power prices and cooler temperatures.

https://bitcoinist.com/bitcoin-mining-b ... ton-state/

This is going to be very interesting to watch.
Why endure the nightmare and congestion of LAX when BUR, LGB, ONT & SNA is so much easier to fly in and out of.
 
Route66
Posts: 37
Joined: Mon Dec 11, 2017 11:47 pm

Re: Bitcoin Mining Boom Hits Small Town In Washington State

Sat Jan 13, 2018 3:45 pm

I was reading about the same thing in Chinese province last week. The government is clamping down since they heavily subsidize the cheap electricity.
 
tommy1808
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Sun Jan 14, 2018 9:12 am

dc10lover wrote:
This is going to be very interesting to watch.


With any Bitcoin transaction costing around 300kwh, yes, with a k, of power, this is going to end quite soon.

60 or so USD for each payment makes Gold an effective currency.

Best regards
Thomas
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Aesma
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Sun Jan 14, 2018 11:55 am

My miners are on the way from China, I have access to electricity that is not the cheapest, but not the most expensive either. Temperatures are OK and I plan to put them in a very large hangar that could house thousands of them instead of the dozen I will.

The real problem for me is to set up the right kind of company to actually earn anything from this. I might end up just selling the miners on eBay and make more profit from that !

2-3 cents electricity is really interesting though. Too bad it's in Trump land.
New Technology is the name we give to stuff that doesn't work yet. Douglas Adams
 
BestWestern
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Sun Jan 14, 2018 12:11 pm

Kodak has stared selling mining devices - they do all the work, and take half the return.
Greetings from Hong Kong.... a subsidiary of China Inc.
 
dc10lover
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Tue Jan 16, 2018 11:54 pm

BestWestern wrote:
Kodak has stared selling mining devices - they do all the work, and take half the return.

Thanks. May look into this.
Why endure the nightmare and congestion of LAX when BUR, LGB, ONT & SNA is so much easier to fly in and out of.
 
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moo
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Wed Jan 17, 2018 12:05 am

dc10lover wrote:
BestWestern wrote:
Kodak has stared selling mining devices - they do all the work, and take half the return.

Thanks. May look into this.


Don't bother mining bitcoin, mine one of the other coins instead - bitcoin mining isn't worth it unless you have a significant mining pool and investment. One or two miners doesn't cut it - the company selling the miners would make more from the sale than the person doing the mining, otherwise the company selling the miners wouldn't be selling them...
 
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einsteinboricua
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Re: Bitcoin Mining Boom Hits Small Town In Washington State

Wed Jan 17, 2018 12:34 am

BestWestern wrote:
Kodak has stared selling mining devices - they do all the work, and take half the return.

I bought Kodak shares shortly after the announcement, but I think it's gonna go nowhere. The market will be saturated with cryptocurrencies if other companies do the same. I sold the shares earlier today. And with the cryptocurrency bubble deflating (not popping...yet), it's not gonna go anywhere.
"You haven't seen a tree until you've seen its shadow from the sky."

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