Bitcoin versus batteries (9 Jan, 2018)

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Re: Bitcoin versus batteries (9 Jan, 2018)

Postby greven » Tue Jan 09, 2018 5:39 pm

Transaction fees can still be collected when the mine is barren, but that will be pretty small fry compared to mining profit.

What effect do you think China shutting down miners will have?
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Re: Bitcoin versus batteries (9 Jan, 2018)

Postby aardvark_admin » Tue Jan 09, 2018 5:54 pm

So if the fees will be pretty small -- but obviously the transaction processing burden will be bigger than ever, how do we know that people won't just shut up their mining/processing rigs or repurpose them to mine another currency -- leaving Bitcoin users unable to process transactions in non-glacial timeframes?
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Re: Bitcoin versus batteries (9 Jan, 2018)

Postby greven » Tue Jan 09, 2018 8:06 pm

It is quite likely transactions will become even slower and more expensive than they are now, making it very difficult to use as a currency
What effect this will have on its value as a speculative investment, I couldn't begin to guess
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Re: Bitcoin versus batteries (9 Jan, 2018)

Postby Kiwiiano » Wed Jan 10, 2018 7:02 am

An article on Science Daily, today (10th) raises another possible use for PV power that hasn't had a mention. Water purification. Distilling water at 16c/kw or thereabouts is marginal, but if you don't have to pay the PowerCo for the electricity you can start supplying your neighbours with purified water and get off that grid.
We're lucky in Papanui, ChCh to have clean, soft, tasteless water but the way the 'Thou shalt always cover thine arse" noddies in Gummint are going we may be forced to endure blaah chlorination even when we don't need it. Whoops... panel on the roof, cable to a bench top distiller and problem solved.
~ Kiwiiano
“I'm right 98% of the time, so who gives a damn about the other 3%?"
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Re: Bitcoin versus batteries (9 Jan, 2018)

Postby greven » Wed Jan 10, 2018 7:39 am

I thought all water supplies had to be treated already, and some places do a better job of removing the chlorine again after the treatment?
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