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ove how home miners and heatpunks are decentralizing bitcoin mining, but the reality is that it's still a pretty tiny slice of hashrate. Do you see home mining or mining for heat reuse on a consumer level becoming signifi
Next five years is doable. I think a big reason home / utility based mining for heat or solar (not seeking a profitable mining operation) has been stunted is that the market had effectively no home mining options until Skot reverse engineered Bitmain's ASIC chip with the first Bitaxe.
That kickstarted the movement. Solo mining. Desktop toys. Home gadgets, etc... The heatpunk ethos is effectively - how far can I take that? What's the most amount of electricity you'd want to spend at home to mine? Turns out it's probably as much electricity as you would have used to heat your home or as much electricity as your solar system was going to export as excess.
I used to live in Seattle. We had these two electric heaters that we'd use to heat the whole house and it was loud! I wasn't in to bitcoin at the time, but I think back on it now and realize that should have been miners.
It's frustrating to me that normies often associate bitcoin with crypto and scams and so it will likely be a bit of an uphill climb to convince average consumers to install bitcoin heaters. Besides culture, what do you think most stands in the way of uptake?
Honestly, making the products solve a problem for people - without them knowing the underlying technology is bitcoin - is the way IMO.
Block has done this masterfully with the Square terminals. Go to a coffee shop and tell them you can pay without 3% card service fees. Their mind is blown.
Same thing here in the Heatpunk space. Doesn't lower everyone's heating bills, but for folks like you and that exact scenario in Seattle, it's a no brainer. A device that offsets their heating bills. Simple as that.
Hello! Thanks for being here!
I love how home miners and heatpunks are decentralizing bitcoin mining, but the reality is that it's still a pretty tiny slice of hashrate. Do you see home mining or mining for heat reuse on a consumer level becoming significant (more than 1 or 2% of hash?) in the next five years?