MusicMoguls
Level X3
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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?
As always thank you for reading please don't forget to follow me.
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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 [i]that [/i]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. :D
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idealmike
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! [quote][b]Will Mining cause the price of renewable energy to continue to fall? [/b][/quote] 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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