Quote from: MrcMrc on February 11, 2021, 01:30:01 PM

I don't get the mathematics behind this IG the electricity consumption of bitcoin mining is so high that mean higher bills to be paid on the consumption of the said amount which is a good revenue for the government. But in the side of those miners that mean increase in amount to be paid for electricity and I think this will continue until I better alternative is brought into play e.g solar system or hydroelectricity.

Solar is and never will be an option to mine bitcoin... unless the technology to actually mine bitcoin completely changes in terms of the ASIC technology currently used. We're talking a leap of magnitude to the same degree of "Current Computing Power" -> "Quantum"

The newer mining units on the consumer end (90TH/s) draw 3000 Watts.

A 3000 watt solar array (this factoring you live where it's sunny year round, no clouds) is going to run you $20,000, factoring in the battery system, the fact you can only generate AC power during the daytime hours, but need mining power 24/7...

It's not even in the cards. You'd also need a lot of space. A big back yard, or roof top to mount the panels, and this is just for (1) Mining Rig.

Solar power technology will improve, but only a very small amount-- there will never be a major revolution in solar power technology. This is simply due to the basics of the thermodynamic efficiency limit and infinite-stack limit.

Sunlight on the earths surface only produces a certain amount of energy (photons) per square meter. The best panels are very good at capturing a fairly high percentage of those photons... 60%... but they will never reach 100%... and even if they did that's still "not very much power" per square meter of space.

Energy cannot be created out of thin air... we can capture it... but the amount per square meter is limited by the actual amount of energy the sun produces that reaches us though our atmosphere.

You can only draw out what comes in... which is very little.

Cheers!

Strato