[RePhase277]

Just fired up a service today for a Bitcoin mining operation. What a fiasco. Originally it was going to be 7.5 kW of load. Then they decided to move to his garage: an old single level house with an ancient 100 amp service. 25 kVA transformer feeding 4 houses. The guy upped his consumption to 28.8 kW. Getting the PoCo to change the transformer was something special. They kept insisting that the 25 kVA transformer would handle it due to "diversified loading". I finally got through to them that this guy was going to be pulling 120 amps 24/7 365, no diversity... real amps.

"So... wait... you're saying there will be 120 amps continuous... all the time?"

They wanted to put in a 37.5 kVA pole pig... which would leave just 36.25 amps for all 4 houses to share. We finally talked them into a 50 kVA... So the house gets a 320 amp service, with the old 100 amp panel remaining and a new 200 amp bolt-on panelboard for his servers. I'm excited to see where this goes. I expect he's going to outgrow his little neighborhood single phase primary soon.

 

[telsa]

He's off his nut.

Bitcoin mining ONLY works if you've got subsidized power... ie you're stealing it... or you're in Venezuela.

Yes, it's THAT hard to mine a SINGLE Bitcoin at this time.

And the power requirement is accelerating away faster than the price of Bitcoins.

Indeed, that's EXACTLY why Bitcoin is currently flying high. No-one can create more supply.

Not really.

But, at the end of the day, Bitcoin is tulips, revisited.

The Red Chinese have reached my conclusions: astounding hacking is to come -- followed by official repression of Bitcoin transactions -- followed by a total collapse of the Bitcoin mania.

Vertical UP = Vertical Down.

 

[telsa]

Famously, Isaac Newton made a fortune in tulips -- then got back in -- and lost all his winnings and much more. When the turn came, even the genius of the age couldn't get his order in fast enough.

( Being in England was lethal to his prospects for an item traded in Holland. )

We have the exact same problem.

Bitcoin is going to move based on Asia -- not The City or Wall Street.

 

[Cow]

I think most could careless if it makes sense to Bitcoin mine or not. As long as their check clears, then that's real money in the bank.

 

[RePhase277]

It's impossible to hack a Bitcoin due to the hashchain that each new minting must verify. I agree that energy is a factor, but at 10 cents per kW-hr, he's willing to risk it. I don't give a rip at any rate because the check cleared in USD.

 

[MTW]

Fascinating stuff. Thanks for sharing.

 

[telsa]

What's really funny ?

That he can go for years without mining a single coin.

Partials don't exist.

Heh. :jester:

But, as you say, that's HIS problem.

 

[Southeast Power]

What's really funny ?

That he can go for years without mining a single coin.

Partials don't exist.

Heh. :jester:

But, as you say, that's HIS problem.

https://99bitcoins.com/bitcoin-mining-profitable-beginners-explanation/

 

[chicken steve]

I wonder how the whole Net Neutrality deal will effect digital currencies? ~CS~

 

[splatz]

I wonder how the whole Net Neutrality deal will effect digital currencies? ~CS~

LOL my first thought was they're unrelated but then Comcast could declare the bitcoin evil and block the exchange - people could find another way to the exchange, but that would certainly at least shave a few bucks off the bitcoin price - especially if they declare the Etherium A-OK and traffic to the Etherium exchange is unmolested.

 

[splatz]

Just fired up a service today for a Bitcoin mining operation. What a fiasco.

Did you get a look how many racks they're taking up? How about the cooling? I'm wondering how much of that 200 amps is going to servers, and what part to cooling.

I thought it would be cool to mine bitcoins in the basement of a building in the winter where you could use the heat generated to offset your heating costs.

In the summer, I thought the best place would be in an abandoned mine, all the 55*F air you want.

Exactly what goes on at that top secret off grid solar powered retreat? I was figuring you're just moonshining, now I wonder...

 

[RePhase277]

Did you get a look how many racks they're taking up? How about the cooling? I'm wondering how much of that 200 amps is going to servers, and what part to cooling.

Never saw the equipment. Just receptacles. According to the customer, the best cooling is ventilation, not air conditioning. A big fan will move lots of air.

I thought it would be cool to mine bitcoins in the basement of a building in the winter where you could use the heat generated to offset your heating costs.

In the summer, I thought the best place would be in an abandoned mine, all the 55*F air you want.

That's the right idea.

Exactly what goes on at that top secret off grid solar powered retreat? I was figuring you're just moonshining, now I wonder...

Mostly just being drunk and yelling at trees that look like my dad.

 

[oliquir]

i am thinking of doing it in the winter (not a big setup only 4-5 kw one), i actually use electric heating so it would cost me 0$ more of electricity.

 

[HackWork]

i am thinking of doing it in the winter (not a big setup only 4-5 kw one), i actually use electric heating so it would cost me 0$ more of electricity.

Not all the electrical use goes towards heat so you will still pay for the GPU cycles.

 

[samgregger]

Someone should create a little bitcoin miner that looks like a surge suppressor and put one on every panel change you do. "And now I just need your wifi password so it can... uh... monitor surges and stuff"

 

[oliquir]

Not all the electrical use goes towards heat so you will still pay for the GPU cycles.

ive searched a lot about that and all result came to the same conclusion, almost 100% of watt consumed by gpus/cpu is converted into heat.

 

[sbrn33]

Just fired up a service today for a Bitcoin mining operation. What a fiasco. Originally it was going to be 7.5 kW of load. Then they decided to move to his garage: an old single level house with an ancient 100 amp service. 25 kVA transformer feeding 4 houses. The guy upped his consumption to 28.8 kW. Getting the PoCo to change the transformer was something special. They kept insisting that the 25 kVA transformer would handle it due to "diversified loading". I finally got through to them that this guy was going to be pulling 120 amps 24/7 365, no diversity... real amps.

"So... wait... you're saying there will be 120 amps continuous... all the time?"

They wanted to put in a 37.5 kVA pole pig... which would leave just 36.25 amps for all 4 houses to share. We finally talked them into a 50 kVA... So the house gets a 320 amp service, with the old 100 amp panel remaining and a new 200 amp bolt-on panelboard for his servers. I'm excited to see where this goes. I expect he's going to outgrow his little neighborhood single phase primary soon.

Why do you give a rats ass what size the poco trans is? Do your job and let them do theirs.

 

[MTW]

I can't believe Rephase is a "Registered Member" now.