Can somebody explain this to me like I’m a child please?

colm_mcm

https://www.indiegogo.com/projects/heatbit-electric-heater-that-earns-you-money#/

I’ve tried reading up on it but I’m at a loss.

-=al=-

It's kinda like when you're using your laptop and it gets hot... Then using the laptop as a radiator

It seems that instead of cooling down a system that is mining bitcoins - like a fan built into a laptop or pc to keep it cool, it's doing the opposite by harnessing the heat generated by mining bitcoins

I have very limited of knowledge of anything bitcoin related, but that's what I gathered from the link

wandererz

To mine/generate crypto currency like bitcoin, these days you need powerful computers working like crazy at maximum performance. These days, these specialised computers are very expensive and they also generate a lot of heat, which means that they have to be cooled as well.

Because they are working away like crazy at maximum performance all the time they consume electricity and as a result they also generate heat. Like an old laptop.

These guys are saying that rather than bother cooling the thing down, just let the heat escape and heat your room instead.

So while it's frantically slaving away generating bitcoin, it's also heating your home. So, in one way you are saving because you don't have to run your heating system in that room and you are earning by generating bitcoin or other crypto.

The problem however is what is the tradeoff between earnings and the cost of the electricity.
This normally only works in places with extremely low energy costs.

And what about during warmer months e.g. May-Sept.
You'd hardly want to be running something generating heat and also consuming electricity.

Nice concept, but others have come and gone as well.

colm_mcm

Thanks!

wandererz

colm_mcm wrote: »

Thanks!

No problem.
I'd say don't waste your time. Go buy some Theta coin or Theta Fuel or XCM while it's still cheap and hold for a while.

My €450 spend on theta 2 years ago is today worth €8300.
It could go up, it could bottom out, but I'm still holding until the bitter end!

colm_mcm

wandererz wrote: »

No problem.
I'd say don't waste your time. Go buy some Theta coin or Theta Fuel or XCM while it's still cheap and hold for a while.

My €450 spend on theta 2 years ago is today worth €8300.
It could go up, it could bottom out, but I'm still holding until the bitter end!

I won’t be buying, I was just stumped as to why a heater would mine!
All clear now.

CrazyFather1

It has been discussed for years about what to do with the heat from computers. Normal cooling is via blowing cold air in one side and hot air comes out other. In large data centres you have hot/cold lanes I think they are called

The next step was water cooling which is better and I seen for years talk of large DC's which would generate hot water which could then be used to heat houses. They wanted to build a large one in Wexford/Waterford years agp
Looks like they have now done it with Amazon: https://www.rte.ie/news/regional/2020/1214/1184348-amazon-heating/

This is same idea, just on a lot smaller scale.