Spack_Jarrow / Spack_Jarrow is on Nostr

Something something low time preference

Last Notes

2024-08-19 17:36:32

From a layperson’s perspective I’m not privy to the full nature of thermodynamics, it’s easy to imagine up ways in which the heat produced by a bitcoin miner can be re-utilized, but actually listening to people who know what they are talking about on it is fascinating.
This is a great talk to listen to if you’re just now getting into bitcoin mining with things like the #bitaxe. I know a #bitaxe is only a small drop of water in the ocean but interesting to think of the implications of bitcoin mining can have on our energy infrastructure.
https://youtu.be/WzHTVY5VvAw?si=yRM879SJx2xnDKIK
On my journey to try to understand #bitcoin I’m starting to sense that as one heads further into the rabbit hole they find themselves being presented with more and more questions which with almost certainty just drive them further down into the rabbit hole as they seek out the answers.

2024-08-07 02:32:02

- reply

See post above about #bitaxe. Learning to use this #nostr thing

2024-08-07 02:27:07

As the cost of mining goes up in terms of energy cost, and the block reward (subsidy I think is the term I’ve heard) goes down, will mining become more decentralized and run on more dispersed smaller scale hardware? (Enter hardware like the bitaxe?)
I’ve heard speculation block fee’s will go up over time too with competition for block space, so what will become a good UTXO size to have at a minimum?
When the block subsidy is smaller than the fees being paid to the miners, will big miners still operate for competition on what is a chance to gather these fees, or will small miners at random become wealthy by running their own hardware?
Piecing together this whole bitcoin thing little by little from an end user’s perspective.

2024-07-24 20:57:26

The time of the small scale bitcoin miner is returning. Did Satoshi fathom such a thing happening from a hardware perspective?

2024-07-16 18:35:46

- reply

Edit to the question at the end: *Does a central authority own the work produced by these ASICS, or is it individuals that do?

2024-06-22 22:36:06

- reply

Perhaps it is about having a say over what we can and can’t do with energy.

2024-06-17 03:12:25

If Bitcoin is considered energy money and represents the purest form of currency conducive to a truly free market economy, then all energy currently used in any way that does not directly contribute via powering Bitcoin mining equipment or indirectly through the capture of excess (waste) energy for use in Bitcoin production represents an opportunity cost over the long term. The question arises: should we prioritize using energy to power miners and utilize excess energy as a byproduct for other purposes, or should we focus on harnessing excess heat from current energy consumption processes for Bitcoin production, such as powering micro Bitcoin rigs? Currently, our infrastructure cannot support the former option, as the heat energy produced cannot be efficiently repurposed beyond local applications like space heating or drying fruit.
Suppose, however, we could effectively capture and utilize this excess energy for processes such as transportation. What would such a scenario entail? Ideally, assuming the laws of physics allow, we might employ thermoacoustic, steam, or hot air engines powered by the energy output from ASICs attached to vehicles for transportation, and these ASIC’s are all powered off of an electrical grid whereby the cars have terminals they reach onto wires with. Alternatively, in a more feasible future scenario, we might use our optimized and efficient engines and energy sources for regular activities, while excess energy is captured using thermocouples or other efficient means to charge devices that power small ASICs. Individually unprofitable, these ASICs could collectively contribute to a more secure and utilized Bitcoin network through their network effect. What then of these micro rigs? Does the a central authority own the work performed by them or does each individual own the work performed by their ASIC? https://image.nostr.build/5347e9f9773525cf3ab688f360efc104d5a27a26614542e6522e25c2a1f822d6.jpg https://image.nostr.build/91b68c3be9545081b9e4acfaac97f85c2ecab18c7ace43a3fa8aea9d95c402cc.jpg

2024-06-07 23:58:02

1BTC=1BTC
BTC per USD 1/$69,340
Sats per Dollar
1,442
Market Cap
$1.37T

2024-06-07 23:55:56

846,951