Bitcoin and Alt coin crypto Mining Using Solar

[wilbur]

Yes you read that right, in australia they set a 20MW solar farm for  Cryptomining 

Reports said that it has been accepted to set 20MW for mining

Source:https://news.bitcoin.com/20mw-solar-farm-set-to-power-crypto-mining-in-rural-australia/

[skillex]

Thats nice to hear. In that way the other countries banning the mining of bitcoin like China will now change their mind.  

[ivichos]

Cryptocurrency lovers expect to see such positive news. Cost of minning cryptocurrency adds additional cost to transaction fees. With development like this we anticipate transaction fees to be lower. This will also enable more people to invest in cryptocurrency as cost of transaction becomes attractive. We look forward to other countries embracing the technology and even developing into other cheaper sources of electricity like wind, tidal waves,  etc.

[wilbur]

18 minutes ago, ivichos said:

Cryptocurrency lovers expect to see such positive news. Cost of minning cryptocurrency adds additional cost to transaction fees. With development like this we anticipate transaction fees to be lower. This will also enable more people to invest in cryptocurrency as cost of transaction becomes attractive. We look forward to other countries embracing the technology and even developing into other cheaper sources of electricity like wind, tidal waves,  etc.

The main reason why they are doing this i think because in the long run they will save more on electricity 😃

 

4 hours ago, skillex said:

Thats nice to hear. In that way the other countries banning the mining of bitcoin like China will now change their mind.  

And yes hoping that some countries will be more open about cryptocurrencies

[wilbur]

On 5/3/2018 at 1:37 AM, Kate said:

That's nice. Hope this becomes a thing in my country. Waiting so long for mu country to be a crypto based country. 

Anyway thanks for the info but does the mining go down at the night ? SInce there wont be solar power ? or they use the rare moons light  

Lol i think there are some stored energy, so they can still mine at night

Crypto Currency has a future for sure

[xtinepink]

will it give more like putting it in Tuguegarao? Hahaha. 

[wilbur]

Lol ideally it can be done and solar energy will be generated faster but the thing is is the capital and no one is willing to spend money for that particular kind of project

[jeniusPH]

what a nice idea

[SuddenlyBroke]

Quote

The construction of the facility is expected to hire a workforce of 40-80 individuals, with three part-time staff predicted to be tasked with the maintenance of the facility in the future.

People forget often just how many people are involved in setting up, maintaining, and building these farms. Great for the local work force! 

Also all the chip innovations that mining drives, and how many jobs that creates in itself in the tech sector. So many hidden benefits that crypto provides to society I think!

[blueprints]

They should make a coin thats made out of solar power. 

[wilbur]

It may be possible if the scale is larger than this one i think.  

But coin out of solar seems cool