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netikras
2y

I wonder what's the future of the crypto-mining businesses, when electricity prices have sky-rocketed to 4€/kWh [from what it used to be 14ct 2 years ago]. True story. Shops had to close

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energy

crypto

price

electricity
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  • 5
    2y
    Proof of stake instead of proof of work
  • 4
    2y
    @Root Which means an oligopoly control over the currency. Any babble of decentralisation goes right out of the window. That's why Ethereum has been lying about that change for years.
  • 1
    2y
    @Root basically "mining dies out"
  • 4
    2y
    @Fast-Nop isn't it already an oligopoly? Only already rich ones can afford huge mining rigs
  • 1
    2y
    Imo, no currency can be not controlled by the rich.
  • 2
    2y
    @iiii That's even worse with proof of stake because you don't even need ongoing costs anymore. Just sitting there with enough coins is sufficient.
  • 4
    2y
    @neticas, are you from Europe where by some perverted logic electricity made by gas is deemed "green" and was now bitten in the ass by Russia?
  • 1
    2y
    @Fast-Nop yeah, sure, I do agree
  • 2
    2y
    @iiii The rich have a much easier way: offering shit like well-paid directors' board jobs to influential people. That's how legalised corruption works.
  • 1
    2y
    Just buy the following:
    8kw/h solar panels, and equipment.
    A battery to hold what ever you don't use.
    A crypto rig + coolling solution.
    About 50k euro.
  • 0
    2y
    @magicMirror and get no profits out of it

    Sounds like a damn plan
  • 1
    2y
    Lots are already following to where power is cheap (or straight up aquire means to produce power) so I'm expecting more of that
  • 1
    2y
    @Nanos and winter...?
  • 2
    2y
    @netikras

    Winter is great in Australia
  • 0
    2y
    Curious as well. Now that graphics cards are back in fullswing and not hard as hell to get.

    Blessing and a curse at the same time. Wonder how much that has effected mining prices too?
  • 1
    2y
    @CrazyDiceGuy I think you have cause and effect the wrong way around. GPUs have dropped in price because demand from mining has dropped, and that's because mining has become less profitable with the crypto crash.
  • 2
    2y
    No care it's not an asset that creates employment, allow creation of new technologies and so on. Some people will loose money, end of the story
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