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Some use cases like water heaters might want to not only turn the miner on and off, full control of the amount of watts the miner consumes is critical, as they want to keep the water in a water heater at a specific temperature, which is best achieved by running the miners at a lower power setting.
Many approaches by the community have tried to solve this problem. Some of these include turning miners on and off with relay systems or presetting power consumption settings in Braiins based on an average sun shining data. None of these methods really were fully satisfactory though. So, this author decided to look for an already existing ecosystem of home automation to make this connection simpler, and as a result discovered Home Assistant.
What Is Home Assistant? Home Assistant is a free and open-source software for home automation designed to be a central control system for smart home devices with a focus on local control and privacy. Control features include turning it on and off, configuring the power limit, and monitoring all sorts of performance data from your machine inside of Home Assistant e. The following sections provide step-by-step instructions for installing the miner integration in an existing home assistant installation to start using mining hardware for heating a residence and effectively managing the home temperature.
This author runs his Home Assistant on a Raspberry Pi 4. A new user should opt for whatever hardware they are most comfortable with. The following sections give step-by-step installation instructions. Also, the embedded video below explains the installation process. Custom components are a bit easier to develop than regular components of Home Assistant. The current version of the miner integration is still quite Beta, when we reach a more stable solution we will definitely propose the miner integration to Home Assistant Core.
Click on Integrations. The miner integration with Home Assistant is now installed. Each machine that needs configuration via Home Assistant needs to be added with the following steps. Users can assign the machine to a specific area in their Home Assistant setup, but this is not required. Click Finish.
As of mid-September , the Bitcoin mining reward is capped to 6. How Is the Bitcoin Network Secured? Bitcoin Energy Consumption Over the past few decades, consumers have become more curious about their energy consumption and personal effects on climate change. The news has produced commentary from tech entrepreneurs to environmental activists to political leaders alike.
In May , Tesla CEO Elon Musk even stated that Tesla would no longer accept the cryptocurrency as payment, due to his concern regarding its environmental footprint. Though many of these individuals have condemned this issue and move on, some have prompted solutions: how do we make Bitcoin more energy efficient?
Others have simply taken the defensive position, stating that the Bitcoin energy problem may be exaggerated. The Bitcoin mining community also attests that the expansion of mining can help lead to the construction of new solar and wind farms in the future. Moreover, the energy consumption of Bitcoin can easily be tracked and traced, which the same cannot be said of the other two sectors. Those who defend Bitcoin also note that the complex validation process creates a more secure transaction system, which justifies the energy usage.
Another point that Bitcoin proponents make is that the energy usage required by Bitcoin is all-inclusive such that it encompasess the process of creating, securing, using and transporting Bitcoin. Whereas with other financial sectors, this is not the case. For example, when calculating the carbon footprint of a payment processing system like Visa, they fail to calculate the energy required to print money or power ATMs, or smartphones, bank branches, security vehicles, among other components in the payment processing and banking supply chain.
What exactly are governments and nonprofits doing to reduce Bitcoin energy consumption? Earlier this year in the U. S, specifically highlighting their concerns regarding fossil fuel consumption. Leaders also discussed the current debate surrounding the coal-to-crypto trend, particularly regarding the number of coal plants in New York and Pennsylvania that are in the process of being repurposed into mining farms.
Aside from congressional hearings, there are private sector crypto initiatives dedicated to solving environmental issues such as the Crypto Climate Accord and Bitcoin Mining Council. In fact, the Crypto Climate Accord proposes a plan to eliminate all greenhouse gas emissions by , And, due to the innovative potential of Bitcoin, it is reasonable to believe that such grand plans may be achieved. Bitcoin is the first decentralized, peer-to-peer digital currency.
One of its most important functions is that it is used as a decentralized store of value. In other words, it provides for ownership rights as a physical asset or as a unit of account. However, the latter store-of-value function has been debated. Many crypto enthusiasts and economists believe that high-scale adoption of the top currency will lead us to a new modern financial world where transaction amounts will be denominated in smaller units.
The smallest units of Bitcoin, 0. The top crypto is considered a store of value, like gold, for many — rather than a currency. This idea of the first cryptocurrency as a store of value, instead of a payment method, means that many people buy the crypto and hold onto it long-term or HODL rather than spending it on items like you would typically spend a dollar — treating it as digital gold.
Crypto Wallets The most popular wallets for cryptocurrency include both hot and cold wallets. Cryptocurrency wallets vary from hot wallets and cold wallets. Hot wallets are able to be connected to the web, while cold wallets are used for keeping large amounts of coins outside of the internet. Some of the top crypto hot wallets include Exodus, Electrum and Mycelium. Still not sure of which wallet to use?
For example, if users A and B are disagreeing on whether an incoming transaction is valid, a hard fork could make the transaction valid to users A and B, but not to user C. A hard fork is a protocol upgrade that is not backward compatible. This means every node computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions needs to upgrade before the new blockchain with the hard fork activates and rejects any blocks or transactions from the old blockchain.
The old blockchain will continue to exist and will continue to accept transactions, although it may be incompatible with other newer Bitcoin clients. Since old nodes will recognise the new blocks as valid, a soft fork is backward-compatible. This kind of fork requires only a majority of the miners upgrading to enforce the new rules. Bitcoin Cash has been hard forked since its original forking, with the creation of Bitcoin SV.
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