crypto heat – Michael Schmid is a cryptophile who has found a way to save money on heating his office and caravan, while improving the decentralization of Bitcoin (BTC).
Burning Bitcoin: S9s to mine and heat its interior
Michael Schmid dove into Bitcoin early on. He installed Bitcoin Core in 2013 and mined a few bitcoins. He had also bought some bitcoins from the Mt. Gox exchange.
Unfortunately, Michael Schmid is one of the victims of the Mt. Gox hack. He then lost not only his bitcoins, but also “all interest” in cryptocurrency.
It wasn’t until 2020 that Michael Schmid dived back into cryptocurrencies, worried about “endless money printing”. He believes that “Bitcoin should be the world’s reserve currency and a store of value », a better alternative to fiduciary currencies whose value suffers the harmful effects of the misuse of the printing press.
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The winning combination: heating and mining
Michael Schmid will then again take an interest in bitcoin mining. He learned about mining equipment, “ASICs, Antminers”. His research enabled him to have a click as to the winning combination “heating and mining”.
It will “replace a resistive heater (like a booster heater) with a bitcoin miner.” Both devices turn electricity into heat, but “the bitcoin miner also generates bitcoins.”
Michael Schmid bought an S9 that he will use “instead of the auxiliary heater to heat” his office.
He will also replace the heating of his camper van, which has had problems, with an S9. The latter was installed “in a box outside”, and the hot air is routed into the motorhome. Michael Schmid can thus swallow the kilometers warm, while mining bitcoins.
Michael Schmid is not the first to have had the idea of combining “heating and mining”. On a larger scale, North Vancouver aims to become the first city in the world heated by bitcoin by the end of 2022.
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