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Renweable Energy will it change Bitcoin Mining?



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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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idealmike

Will Mining cause the price of renewable energy to continue to fall?

Well I think like most new technologies, be it the block chain, renewable energy, solar, wind farms etc, eventually, as the technology increases and becomes more available, the resources needed to get them and build them come down in price. Price is one of the biggest reasons our generation hasn't yet fully adopted renewable energy. We're just not there yet to make it affordable on a mass scale. Although, that said, we are seeing a lot more people buying into solar power. More and more houses these days have solar panels on their roofs. And for all intents and purposes, this is supposed to save them money by putting electric back into the network. However, over here, it's usually dull and grey and cloudy and we're lucky if we get one full week of sun to make them suck up enough energy to even convert to electricity.

But eventually, as this technology increases, as it becomes more available (more companies providing it) the price of it will come down. Eventually I believe it will increase so much so that people will be able to generate their own electricity. Actually, I think we are already very nearly at that stage and I believe it's something the energy/electricity companies don't want people to know as it would mean less people buying electric from them and less money for them.

It's like the eternal light bulb conundrum. That technology has existed for years already since the 70's. But they don't want you to know that and they don't want you to go out and buy these everlasting light bulbs because it would mean less money for the light bulb manufacturers!



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MusicMoguls

Hey i agree with you 100% Brother. I think what needs to happen is the panels and the cables and the converters that we use need to become better. Less panels need to produce more energy, Converters more efficient. Another thing that is critical is being able to harness this energy and then store anything you don't use into a battery. I want to mention one company that is leading the way with this technology. Tesla is the leading electric car company and battery provider with the power wall. The power wall is capable of of supporting an entire home with solar panels. Never pay for electricity again? Imagine that! Light bulbs have been replaced almost, didn't they have a recall here in the states? We use all energy efficient bulbs in my house and it saved about $40 a month. It cost about $50 to do, well worth the investment. Where are you located on the globe Mike? No way to do solar or maybe wind? I hear some guys in India have created a cheap wind fan that generated good amounts of electricity.



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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. Renweable Energy will it change Bitcoin Mining?



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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!



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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.



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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?



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