Bit sparse on the actual details in this article? How many GH/S out of the equipment? Cost?
Come on Reg!
A Hong Kong Bitcoin mining company has hit upon an unusual design for its new datacentre, immersing its server blades in metre-high glass tanks of bubbling cooling liquid. The discovery was made by Bitcell’s Xiaogang Cao, who was invited into mining biz Asicminer’s Kwai Chung facility in the New Territories a few days ago to …
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Working out how much this will cost in electricity per hour, and factoring the cost of the hardware is easy enough. Unfortunately, the value of bitcoin is so volatile, and the algorithms to mine new coins gets increasingly difficult (though I believe the latter is reactionary to the evolution of technology, and the number of people employed in mining, so it's not possible to predict). Therefore, there's no way of estimating, or guaranteeing when, or indeed if you'll ever get your money back.
I could see bitcoin mining installed in place of electrical heating (radiators, swimming pools, etc), then you could argue that the energy is being put to better use than heating a resistive element....
I realise I am about to proclaim myself a drooling Luddite ignoramus, but what exactly in God's green earth are you supposed to do with Bitcoins?
I can't use Bitcoins to purchase fruit and veg at the market. I can't use them to pay for fuel and maintenance for my motorbike. My utility co-op will not let me pay my 'leccy bill with Bitcoins. The alphabet soup government agencies take a dim view of buying consumables off of Silk Road. I do not have any ransomware on my computers that needs unlocking. It does not appear that any of the "specialist exotic filmography" websites accept Bitcoins for membership fees. What is left?
Do I collect them in a little box so as to increase the length and girth of my e-willy bragging rights? What exactly do people do with the bloody things?
I can pay Wordpress with bitcoins.
I can pay OkCupid with bitcoins.
I can buy food: http://foodler.com/
I can buy liquor and wines: http://citywinecellar.com/ (special discount coupon "BTCPromo")
I can buy gold and silver: http://amagimetals.com & http://coinabul.com
I can buy clothes in popular department stores: http://gyft.com
I can walk to a bar and pay in bitcoins in NY (EVR) or in Berlin (many places) or eat in a lots of restaurant in Argentina. I can also order organic produces with bitcoins in Buenos Aires: http://tierrabuenadelivery.com
How to get there? I can buy airline tickets with Bitcoins: http://www.cheapair.com/blog/travel-news/book-your-flights-on-cheapair-with-bitcoin-virtual-currency/
And I can go to space: http://www.forbes.com/sites/alexknapp/2013/11/22/virgin-galactic-will-accept-bitcoins-for-a-trip-to-space/
And if I ever go to Mars, I can send money there too online. No need for a website for this, its infrastructure is designed to directly work without any intermediary.
The list is endless, and more businesses are accepting it.
Check the list: https://en.bitcoin.it/wiki/Trade
Or look at the map: http://coinmap.org/ or http://bitcoin.travel/
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