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$800/mo. using his Tesla to mine crypto

Unca Walt

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  • Tesla owners speak to CNBC about how they’ve used the internal computer and battery power of the car to mine cryptocurrencies.
  • San Francisco-based Siraj Raval mines ethereum by hooking up graphic processing units directly to the Tesla car battery.

 

Fiat Metaler

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Very misleading. He's using other computers and bitcoin mining equipment powered by his battery in his car. So yeah, if you have $20-40K in mining equipment, you can use the Tesla to power it in a jam, and make some money if you ignore the cost of the mining equipment and the cost of the electricity.
 

Unca Walt

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What I wuz thinkin' had to do with him using the car battery. When the battery gets low... now he has to recharge it, right?

Does he sell more of his crypto to pay the electric bill so he can get some of his crypto back by mining it with the car battery?
 

Voodoo

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The Tesla is Completely pointless. The only possible use is he gets free electricity through some sucker charging stations.
 

Goldhedge

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Why aren't they using solar?
 

pitw

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I betcha they don't do it here where it's -40.
 

ttazzman

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i am guessing they are using the tesla to bridge the hrs of the day where they have a higher price on the electrical usage from the grid......would be a smart move

some places have very low electricity rates at off hours.....you could use your tesla during peak charge hours...and recharge the tesla and mine bit coin in the off hours
 

Casey Jones

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What I wuz thinkin' had to do with him using the car battery. When the battery gets low... now he has to recharge it, right?

Does he sell more of his crypto to pay the electric bill so he can get some of his crypto back by mining it with the car battery?
He may have one of those Woke power deals, where the power used to charge his magical battery car, is metered at a lower rate than normal household use. Or, as noted, time-of-day rates. Oh, thank Gaia for Smart Meters...

Yeah, that would save. Ignoring the cost of the Muskmobile and the equipment to drive the processing computers, and the nuisance of powering out of the garage...he might save a little.

He may be making $800 a month now. Each find requires more computer-churning, so that number is just going to plummet.
 

Mujahideen

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it’s solar or a good portion of it is solar.
 
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Buck

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WillA2

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How does one mine for anything bitcoin related. It's not real in any way. Heck, even fiat has paper. Bitcoin has... imagination?
 

MrLucky

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Mujahideen

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You can run a computer on a couple little panels. The guy mining crypto has a way bigger system. What’s funny?
 

Buck

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You can run a computer on a couple little panels. The guy mining crypto has a way bigger system. What’s funny?
anyone can run anything electric from a set of truck batteries...

the costs associated with any system such as this are very much out of any realm of being either efficient or cost effective


that makes that 'free solar energy' anything but free


it's a boon that found a doggle and the folks ready to put their faces in front of a camera to brag how their solar system is so functional, well, i'll just add: they're usually on year one or two of their ride through hell...a ride that's actually more expensive than any other way of doing it

and inefficient? i'm at the 33rd parallel and my system worked, on a full sunshine day: from about 9:30am till about 3pm...full output to those batteries...less than a 'full day'

Q:
how can anyone expect to draw batteries down, across an 8 hour period and expect them to fully recharge in less than 6 hours?

and for those above my line of parallel, those hours are decreased...now, add in clouds, a bit extra humidity...

within several days of continuous use, this system will shut down for a required several day recharge


been there, done that
 

Mujahideen

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that makes that 'free solar energy' anything but free

i don’t believe anyone said it was free.

What’s interesting, the big miners will spin it or pour their koolaid saying that their mining operations help make solar farms more profitable since crypto mining uses otherwise unused energy at off peak hours and that solar users can sell it back to the grid.
 
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Buck

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i don’t believe anyone said it was free.
we can argue over semantics, but we're not ignorant enough to believe we're not being sold another disneyland where futureworld is anything we want to believe, and it ends up "paying for itself" anyways....

we're there Brother...where Free is the expectation, at any cost, and Real Science is thrown out the window, just to see if it can fly
 

Fiat Metaler

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monorail_miller_933x700.jpg
 

Buck

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Nuke Powered too!
 

newmisty

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RebelYell

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Dam was just going to say that?, for the life of me i still dony know what this bc is
Even after currently available subsidies, solar is usually more expensive than other forms of electricity. It's only free if you don't consider the cost of buying and installing the panels in the first place. I looked into it a couple of years back when I could still get a big tax credit. I figured I would probably end up paying myself about 6% a year on my $30Kish investment, which would also need removing after (hopefully) 25 - 30 years when the panels eventually stopped working. Without the tax credit, the numbers were obviously considerably worse. And this also relied on me being able to sell extra electricity back to the power company with no guarantee they would stick to the price they were offering at the time of installation.

I concluded that this was a pretty terrible deal even with the various subisides on offer.

PS And on top of that, it looked like you would just have to take a total loss if you moved before the lifetime of the panels was up.
 
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Mujahideen

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Q:
how can anyone expect to draw batteries down, across an 8 hour period and expect them to fully recharge in less than 6 hours?

and for those above my line of parallel, those hours are decreased...now, add in clouds, a bit extra humidity...

within several days of continuous use, this system will shut down for a required several day recharge


been there, done that

if you watch the video, the crypto miner guy has no batteries.

if you have cheap electricity, crypto mining is profitable.
 

chieftain

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I repaired a mining PC today (dead PSU) and the customer bangs out approx. $55 worth of ETH per day on this particular machine.

Oh that's because his power bills are non-existent. He has enough solar panels and batteries to pump power into the grid and have enough to power the house. Not only that, he gets paid 66 cents per kWh when he pumps power into the grid. His last "bill" was a credit for $220.
 

Fiat Metaler

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he gets paid 66 cents per kWh when he pumps power into the grid.

That sounds too good to be true. Where does he live that he gets paid so much for sending power back to the grid?

That's about double the cost of electricity in even the most expensive places in Europe. Its 6X what electricity costs me here in the U.S., and in my state the utility company will only buy it back at the wholesale rate, which is less than 2 cents.
 

anywoundedduck

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i don’t believe anyone said it was free.

What’s interesting, the big miners will spin it or pour their koolaid saying that their mining operations help make solar farms more profitable since crypto mining uses otherwise unused energy at off peak hours and that solar users can sell it back to the grid.g
Using lots of energy to mine bitcoin. What a joke. Wasting energy to create a line entry on a file sharing spread sheet. And it's secure as long as your country doesn't band it, you are not hacked, have a working computer, and electricity. In these times of war, that is not secure at all.
Where as a sealed PVC pipe of silver that was lost in a boating accident is much more secure,IMO.
 

Mujahideen

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Using lots of energy to mine bitcoin. What a joke. Wasting energy to create a line entry on a file sharing spread sheet. And it's secure as long as your country doesn't band it, you are not hacked, have a working computer, and electricity. In these times of war, that is not secure at all.
Where as a sealed PVC pipe of silver that was lost in a boating accident is much more secure,IMO.

the money the guy in the video is making mining is not a joke. Maybe he is taking is crypto money and buying gold?

as long as it’s profitable he’s not wasting anything.
 
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chieftain

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That sounds too good to be true. Where does he live that he gets paid so much for sending power back to the grid?

That's about double the cost of electricity in even the most expensive places in Europe. Its 6X what electricity costs me here in the U.S., and in my state the utility company will only buy it back at the wholesale rate, which is less than 2 cents.

In their infinite stupidity, the state government here set up feed-in tariffs (through the electricity retailers) to encourage people to install solar power systems. The initial rate was 66 cents per kWh. That rate was for systems installed between November 2009 until late 2011. The FIT rate won't change until 2026 for old mate as he had the system installed in October 2011. The current shits and giggles price for power is about 25c per kWh, so he's sitting pretty for another four years.
 

WillA2

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the money the guy in the video is making mining is not a joke. Maybe he is taking is crypto money and buying gold?

as long as it’s profitable he’s not wasting anything.

Well, there's a sucker born every minute. If someone is willing to trade something tangible for electronic digits, well there's your sucker.
 

WillA2

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RebelYell

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Well, there's a sucker born every minute. If someone is willing to trade something tangible for electronic digits, well there's your sucker.
Well I agree. So far I'm out $26.4 billion. :-(