Bitcoin mining becomes unprofitable as BTC price falls to average cost of mining

Re:Bitcoin mining becomes unprofitable as BTC price falls to... by TomSwirly on Sunday June 19, 2022 @04:08AM (#31797284)

He's stealing from society to feather his own nest. I'll bet he also thinks this makes him smarter than other people.

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by Aeolun on Sunday June 19, 2022 @04:21AM (#31797367)

In a society as large as ours, I think it generally is strictly smarter. Personally I think it’s detestable for ethical reasons.

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by asddubs on Sunday June 19, 2022 @04:13AM (#31797319)

well, if he was going to be running a space heater otherwise then this is basically the least harmful instance of mining

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by bastawhiz on Sunday June 19, 2022 @07:51AM (#31798445)

That's a pretty inefficient space heater

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by praptak on Sunday June 19, 2022 @11:14AM (#31800136)

It's close to 100% efficient in converting electricity to heat.

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by asddubs on Sunday June 19, 2022 @05:38PM (#31803793)

anything that converts electricity to heat, by whatever means, is essentially equally efficient in doing so.

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by praptak on Sunday June 19, 2022 @04:39AM (#31797467)

How is it stealing? He's paying for the electricity, the same price as everybody else who has an allotment in that community.

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by SturgeonsLaw on Sunday June 19, 2022 @04:32AM (#31797424)

How is paying for electricity, at the price the provider offered, stealing?

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by joepie91_ on Sunday June 19, 2022 @06:23AM (#31798016)

Because the electricity was almost certainly offered for a specific subsidized purpose, likely being funded by a grant of some sort, and thus it is being misused?

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Re:Bitcoin mining becomes unprofitable as BTC price falls to... by praptak on Sunday June 19, 2022 @07:04AM (#31798213)

Maybe, but then the heating itself would be the problem, not the mining on top of that.

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