British engineer who threw away a hard drive holding 7,500 Bitcoin has a new idea on how...

mbk34

Posts: 389   +288
And you'll just selectively ignore the myriad examples of Bitcoin miners investing in building solar into their operations, or taking over old hydroelectric dams to cherry-pick the one that bought an old coal plant, instead of letting it rot.
I searched for examples of viable bitcoin mining installations powered by solar but didn't find much. I did find a report looking into the viability of it and it didn't look promising. They were using a hypothetical example in California and stating that it would take 8 to 9 years to pay back - I couldn't quite picture anyone putting in that sort of investment into something that's so volatile (bitcoin, not the sun). They also needed a large number of panels and not everyone has the space. Also not everyone lives in California and obviously it would only provide power during daylight hours unless you add energy storage which is yet more cost. In short I call BS. Do you power your rig via solar? If not, why not?
You're right, their electricity surges and ebbs in ways which are unpredictable that make running a grid a nightmare for operators, versus Bitcoin miners that consume at a constant, steady rate, are amenable to shutting down during emergencies, and sustain usage during the overnight hours (which grid operators need because the power they generate has to go somewhere, and they can't just shut the plant down for the night).
The grids are designed to cope with millions of users so your individual usage spikes really just don't matter. The real issue (at least to the planet) is whether you're needlessly using way more power than you need in the vague hope of making a quick buck.
 

tkabou

Posts: 145   +175
Hopefully, by the time he finds it, Bitcoin will be worth zero.

Also, he is no engineer, rather a failed scam profiteer.
Exactly my thoughts, but not "hopefully" rather certainly it'll be zero, and replaced by CBDCs, or if the people's will materializes, a gold/silver standard, at which point the silver in the drive may be more valuable than those coins. People are literally living in a video game, chasing "coins" and "tokens" nowadays. Part of the metaverse already?
 

tkabou

Posts: 145   +175
So anyone who doesn't see through a cheap Ponzi-scheme is anti-crypto and salty? Sure, buddy.

We're all so jealous of all that "potential money" that guy could reclaim. Explain to us again the definition of this "potential money" please. To us regular people it sure seems that "potential money" in crytpo really means finding an even bigger sucker than yourself willing to pay even MORE for something worthless and that's where you get this "potential money" from. Correct me if I'm wrong.

Also, could you explain to me what crypto/bitcoin is backed by? What assets, goods, or services, does crypto represent? Is it backed by a product or ANYTHING at all? The answer is of course no. So spare us your little lecture about being salty.
Apparently, crypto is backed by the resources and "mining" that go into solving complex cryptographic nonesense formulas that somehow materialize into real tangible value that you can't actually every hold, touch, smell. Bitcoin (and others) by design (by the NSA), are to accustom us to digital currencies/coins/tokens, so that when the Crypto-crash happens, the Central Banks will usher in something that the people are already familiar with - enter CBDC. It'll be up to us to resist it.
 

tkabou

Posts: 145   +175
A figure we only know because Bitcoin is transparent by design.

Unfortunately we'll never know how much energy has been wasted on gaming, a past-time which produces nothing.
Gaming provides recreation, companionship, stimulation, evolves spatial sensing and orientation, and generates good ol' fun. Bitcoin...is bought and HODLed. You tell me which one "produces" more in a society.
 

Dustyn

Posts: 128   +56
OMG, how many times is this guy going to keep trying?
Should have been more careful with your assets. It's gone... forever.
 

Mister_K

Posts: 2,185   +873
He's not trying to repair it; if found he's trying to forensically recover the data for it. Short of smashing drives to bits with a hammer and then melting down the bits, you can forensically recover quite a bit.
Pointless if the data is not fully intact. All well and good if you recover 20% of the data of a file, but you need the other 80% which has now been lost due to damage.
 

terzaerian

Posts: 1,517   +2,259
Gaming provides recreation, companionship, stimulation, evolves spatial sensing and orientation, and generates good ol' fun. Bitcoin...is bought and HODLed. You tell me which one "produces" more in a society.
The degree to which it does this is debatable, and there are certainly more ecologically friendly ways to accomplish all of that (e.g. "touch grass"), which is the point. If you measure crypto by how much energy it consumes then expect to be measured by the same standard, a contest gaming will lose hard.

Pointless if the data is not fully intact. All well and good if you recover 20% of the data of a file, but you need the other 80% which has now been lost due to damage.
There may be other clues and information on the drive; a seed phrase, for example. So yes, the actual wallet file might be damaged but if there are other clues on there, they might not be.

Apparently, crypto is backed by the resources and "mining" that go into solving complex cryptographic nonesense formulas that somehow materialize into real tangible value that you can't actually every hold, touch, smell. Bitcoin (and others) by design (by the NSA), are to accustom us to digital currencies/coins/tokens, so that when the Crypto-crash happens, the Central Banks will usher in something that the people are already familiar with - enter CBDC. It'll be up to us to resist it.
I see we've attracted the conspiracy theorist x goldbugs that don't understand how open source works now. Splendid.

I searched for examples of viable bitcoin mining installations powered by solar but didn't find much. I did find a report looking into the viability of it and it didn't look promising. They were using a hypothetical example in California and stating that it would take 8 to 9 years to pay back - I couldn't quite picture anyone putting in that sort of investment into something that's so volatile (bitcoin, not the sun). They also needed a large number of panels and not everyone has the space. Also not everyone lives in California and obviously it would only provide power during daylight hours unless you add energy storage which is yet more cost. In short I call BS. Do you power your rig via solar? If not, why not?
There have been examples posted on this very site of bitcoin mines powered by dams. As for solar mines, you didn't look very hard, because I found this alone in a matter of seconds: https://coloradosun.com/2022/06/28/olathe-colorado-crypto-mine-solar/

As for me personally? I mine as a hobbyist, using my main, single GPU on my main desktop. I don't have solar panels on my house but it's on the long list of upgrades I am considering. I have not mined, however, at all this summer, due to the heat, but do during the fall and winter as it warms up the office nicely.

The grids are designed to cope with millions of users so your individual usage spikes really just don't matter. The real issue (at least to the planet) is whether you're needlessly using way more power than you need in the vague hope of making a quick buck.
Scale that one person up into the millions and you have residential usage writ large, which is a challenge for grid operators to manage. Crypto mining, like any other industrial activity, represents a steady consumer of electricity that will use power when no one else is, shut down easily when emergencies demand it, and which plants need because, like I said before, they can't just shut down for the night. Which is the point I was trying to address in the first place - that "bitcoin bad" because miners run 24/7 versus the "virtuous residential gamer" that does not, when the reality is the exact opposite.
 
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BadThad

Posts: 1,222   +1,490
Hang on, the crypto folks say you don't need it since the info is stored in blockchain. There's no mention of this fool having written down his security phrases? There are warnings EVERYWHERE that repeatedly tell users to write down this series of items/phrases so they can recover in an emergency.
 

terzaerian

Posts: 1,517   +2,259
Hang on, the crypto folks say you don't need it since the info is stored in blockchain. There's no mention of this fool having written down his security phrases? There are warnings EVERYWHERE that repeatedly tell users to write down this series of items/phrases so they can recover in an emergency.
Considering the quantity and the fact that this is a laptop, he was likely mining Bitcoin in the very very early days - back when it was worth fractions of a cent per coin and actually could be mined with a laptop. A lot of modern security conventions were not in place back then and most people were probably more inclined to save things like private keys or seeds on the device instead of writing it down, and the cost-benefit of taking this shortcut versus a stronger backup regime made sense.

Basically, this poor fellow tripped so the rest of us could walk.
 
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Tams80

Posts: 130   +88
It's backed by the destruction of the environment by greatly accelerating climate change through the burning of fossil fuels to produce electricity.
I mean, the electricity to the run the server for these forums that are pointless entertainment also probably came from fossil fuels...
 

Bamda

Posts: 399   +212
This is funny. When I lose my wallet, I get a new DL, CC, Etc without going to a landfill. Never having to worry that I lost my investment! LOL
 

Greg Powell

Posts: 12   +4
Crypto is a waste, gaming is a waste of time and energy. If you have nothing else to do, GET a JOB!! Your parents will/would have appreciated it.