Renweable Energy will it change Bitcoin Mining?

CryptoGuru Level X³

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October 25, 2016, 11:34 am

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Renweable Energy will it change Bitcoin Mining?

Bitmain tech is leading the way with mining equipment and they are considered the mining giants of crypto. They have the most efficient miners on the market not only that they just keep going. I have 19 miners some i have had for over 10 months with zero problems. My electric is .03 for delivery .057 for KWH charge and i am doing very well. The question is should i go solar and is it worth it? When i first started the answer to this question would be No and it was no up until today. I have done some research and the mining community are basically taking over the solar industry causing more affordable prices for panels and other equipment. For the last 6 years the price of solar and renewable energy has dropped 60%, a Significant amount for any industry. If you have the money to invest i would say getting into mining would be a good idea and using solar would be critical to making a killing. I think in the next 5 years you will see a decrease in the amount of energy needed to run mining equipment, and you will see more solar operations. Will Mining cause the price of renewable energy to continue to fall? What do you think?

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Everett

I think the price of renewable energy forms such as wind, or solar will decrease as more and more people start mining for bitcoins, it correlates with each other in a smooth way. For instance, you're mining bitcoins and using renewable energy which in return doesn't pollute the earth that much, or use up too many resources and basically getting paid to use renewable energy and reinvesting.

As more and more companies start to fully accept Bitcoin, it could drive the price of renewable energy down to where it's highly affordable to the average person. To have a house run on solar power costs thousands of dollars to pay and equip the solar panels to the house. This cost is absolutely insane, and this is why people are still using the dated electric company for power. But maybe bitcoin could help decrease the price.

0 8 years ago

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Cristian

It only makes sense that bitcoin mining will be directly related to green energy, everything around is turning into electric technologies and everyone is trying to find alternative solutions when it comes to energy. Solar panels are still expensive though and wind turbines need a huge investment to become profitable, I'm still waiting for the "big" breakthrough in clean energy sources, from my point of view it is hugely overdue, we need it now! Fossil fuels need to die already, lets finally evolve!

0 8 years ago

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Lynne

I looked into getting solar power one day when we buy or build our own home. The initial cost gave me quite a fright but then the cost goes down significantly! Within about 3 years it would have paid for itself just in the amount I would have paid the power company...

The only thing to also look at though is that if you have solar energy (or least the company that I got a quote from) then if there are any problems with the panels or other equipment then it is for your account and this can be costly if you need to replace a panel.

0 8 years ago

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Corzhens

Pardon me for this ignorant question about bitcoin. I have read an article about bitcoin mining and I seem not to be able to comprehend the part where the bitcoin is coming from. All I understood was the mining operation that you focus on the site for hours in order to mine the bitcoin. My question is who owns the mining site and how does he earn from the mining operation?

0 6 years ago

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