this post was submitted on 11 Aug 2024
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$100k in 3wks with 10 rigs using standard power outlets at an AirBnB?
I'm dubious.
I totally believe they did this, but I question profitability. The power use alone would be much higher than $1500.
oh yeah. no way are you going to make any appreciable money here.
lol, i'm surprised to see you propagating "turn $1.5k into $100k in just three weeks" bitcoin fanfic/advocacy like this 😂
the word promulgating is creaking under the strain of this sentence
you're right, that is the not quite the right word; i edited my comment to say propagating instead.
looks at thread title, looks at this comment
🤨
if only it were posted to a sub for making fun of this shit
wow that's a great idea, we should make one of those!
A typical house may have a 200amp service. That would equate to about ~~2400~~ 24000 watts at typical 120v (the voltage consumer computers use).
What's the math on wattage-to-bitcoin (assuming ideal and average system capabilities)?
I don't know enough to know where to start.
Edit: I dropped a zero on the watts
"dogshit (with a side extremely-maybe lucky once)"?
you can only fit so much computation on some amount of power, and that's also highly influenced by type/execution of the computation involved
the "extremely-maybe": I'm extremely not going to bother even attempting to calculate the present statistical likelihood of being block reward winner (I can, and will, do better things with my time), but ito total computation possible from rando airbnb-miner vs structural-miner configuration it's just super fucking unlikely
easy: skip even trying. you, too, have better things to do with your time
I've mined before and this isn't how it works. I was mining dogecoin in 2014 or so (before Elon hyped it and it was just a joke). You join a "mining pool" where a bunch of people group their processing power together. It keeps track of how much processing each member contributes, and when the mining pool group is awarded a block then it's split up proportionally based on each member's contribution.
Clearly that was a while ago so I'm a little out of the loop and there might be new developments. And if someone had enough processing power conceivably they could go it alone, but I'm not sure how prevalent it is. Probably not enough for an Airbnb miner.
As far as how profitable it is, I would bet that $100k figure is pretty inaccurate. It was a while ago but when I was mining I was tracking my electricity costs vs the value of the coins I had mined and it didn't last more than a few months. It no longer made sense because the "mining difficulty" went up, which meant power cost too much. So it's not entirely easy money, you need to minimize your electric costs as much as possible, as well as cost of your mining equipment.
Miners will buy dedicated hardware made specifically for mining crypto so their margins may be better, but $100k even assuming no power costs and renting an Airbnb seems very high.
you are not tall enough for this ride
If you have personal experience mining cryptocurrency please share
if you have personal experience drinking gasoline please share
or better, don't
I'm not advocating for mining crypto. I understood the commenter above me to be (rudely) saying I wasn't qualified to comment on whether this Airbnb scammer could have made the profit they claimed. ("You're not tall enough for this ride")
But that same commenter didn't seem to be aware that with a mining pool you don't have to single handedly win a block in order to make a profit.
It's still wasteful and unsustainable.
no, for running your mouth with statements that directly defeat each other
the great thing about projection is one can imagine anything you want in someone else's head!
oh hey, a correct take! finally
so this is about right, and after this year's halving it's even worse
many bitcoin rigs don't hit a single block in their lifetime
so I would guess the crypto bro in this case maybe got something as part of a large pool, but i really doubt he hit big
Homes in North America are actually split phase 240v so it would actually be 240v * 200 or 48,000w. Not that I'm here to say you're wrong for your primary point, but the incoming supply is a 200amp fuse per leg (120v to neutral, 240. Leg to leg), with any imbalance returning though the neutral line.
I may be behind on the times, but I'm pretty sure an expensive 200ish terahash setup will consume ~3500W.
To make $100k in 3wks you'd need to be doing like 40,000 terahash (ignoring electric costs). Probably 80,000+ accounting for electricity?
Someone please feel free to correct me if I'm wrong.
oh yeah, he's lying
200 amps x 120 volts is actually 24kW.
But that's still not enough to mine any appreciable amount of crypto in that time period.
It's also actually 240volt service to virtually any house in the US. 48kW
citation needed
on brief checking: ah, (large parts of) the US uses a different ground reference (because of fucking course they do)
christ what a clown country
Thanks for the correction, guess I forgot a zero! Lol
(Not sure how I let that slip, should've been obvious, 2400w is space heater territory on a 20amp circuit).