Who is using a resistor to make heat? Why isn't it an ASIC chip?
The question is how do you sell shovels to the people who are combining both those principles.
A space heater is $30
A bitcoin miner is $1000
If it's only run one season per year, that is going to take a very long time to pay itself off. I think some friends and I calculated it out one night and is was like 13 years. It had a ton of assumptions. Running 24/7 use for 3 months. That price chamge would be offset by the electricity price changes and difficulty adjustments, that more efficient miners wouldn't arrive at an unexpected rate, etc. But still, for back of the napkin math, it seemed like it was going to be a long time.
A bitcoin miner is $1000
If it's only run one season per year, that is going to take a very long time to pay itself off. I think some friends and I calculated it out one night and is was like 13 years. It had a ton of assumptions. Running 24/7 use for 3 months. That price chamge would be offset by the electricity price changes and difficulty adjustments, that more efficient miners wouldn't arrive at an unexpected rate, etc. But still, for back of the napkin math, it seemed like it was going to be a long time.
1