Yo, man, I have an idea about creating a solar power cost efficient mining setup. Unfortunately, I don’t know enough about crypto mining or the hardware involved to create such a beast myself.
My limited understanding is that the major overhead cost is power rather than equipment.
It’s just that you can make a lot of power cheaply year round with some solar panels parked in the right place and a few batteries. The problem with solar for large infrastructure projects is that storage is an issue but in this case, it would really only need to store more temporary charges with higher drain to meet the demands of the processors.
I’d be willing to throw 10 or 20 grand down on the idea if the math checks out.
All I would need is to find some low cost real estate with a lot of sunlight to park some cheap prefab buildings to show proof of concept.
I discussed this before with a crypto guy but the problem then was the high cost of entry and the rapidly out-dated equipment. Storage for electricity is often the biggest problem with solar but what I’m thinking wouldn’t really have as much need for infrastructure owing to the fact that you’d only run the equipment in the daylight hours and it wouldn’t be worked into the grid.
If you went all in on old school renewable power sources, I think this could be done a lot better than what most people try to do. The conventional methods of mining farms don’t take efficient advantage of old school environmental control techniques. They do silly things like relying on expensive air conditioning to get rid of waste heat from grow lights when old school cheaper alternatives can better meet industrial scale needs.
I was thinking maybe somewhere near Vegas in case I get bored. Thoughts? Feel free to tell me I’m crazy and I’m going to lose my shirt. I am crazy but, if I may make a bold statement, my ability to hold onto money dwarfs my ability to sound like a lunatic. My super power isn’t being a natural horticulturist or car restorer, it’s doing it all cheaper than the other guy.
Cooling and electricity I think can be done rather cheaply with inexpensive alternatives. I don’t know what speed and access are with this though. Do you mean processor speed?
I do like NVidia because I’m a bit of a 3D geek, and CUDA seems to go very well with rendering. Have not used it for much else than rendering and gaming.
But, I’m also a cheap mofo, so my current rig is a 1050ti at 8gb.
An interesting part of that is I used to be YUGE into Second Life, and was doing scripties and stuff there for money. I still have a couple hundred $USD worth of that money. Not exactly crypto, but there are some of the same issues with exchange etc., I think.
This just in, internet geeks are generally stupid, high IQ but low emotional intelligence, but especially the guys building and trading in imaginary money. Could be curing cancer or AIDS, but no let’s use up energy and pollute the planet to make…meh.
What a fucking house of cards. Anybody investing in this shit deserves to lose their shirt.
It didn’t even sound too good to be true, Bankman-Fried described exactly what he was doing (yield farming) in an interview on the Oddlots podcast six months ago. The only thing I don’t think he explicitly stated was that he was going to use client funds from the exchange for yield farming.
