Electrical wiring question

[LD1]

I don't mind at all carry on but it cracks me up. My thread was about how to wire up a breaker box and it has devolved into half the people talking about bitcoin mining and half the people talking about VFDs. I got the panel wired up and running so life is good.

Typical here on TBN.
How boring or dead would the site be if all we did was answer simple questions and move on?

Its a lot like real life really. Go to a buddys house and ask him what he did yesterday and next thing you know you might be talking about what you are gonna do next week.

 

[TMGT]

Typical here on TBN.
How boring or dead would the site be if all we did was answer simple questions and move on?

Its a lot like real life really. Go to a buddys house and ask him what he did yesterday and next thing you know you might be talking about what you are gonna do next week.

I think typical of internet more so, I always think of the old comercial where the person ask for a dentist recommendation online and everyone responds with random answers like "my fovorite color is purple".
Just seemed really random like it was meant for another thread.

And to stay on topic, I have to admit I don't understand bit coins either, guess I need to do a little research as I'm kinda curious now.

 

[LD1]

Just seemed really random like it was meant for another thread.

I actually didnt think this thread strayed too far at all.

OP asking about wiring/electrical......for the intended use of powering machines for Bitcoin mining.....so that was on topic.
VFD vs rotary talk strayed a little.....but this thread and its title do bring out the guys knowledgeable about electric. So everythread in this post talking something about electric or Bitcoins......thats on topic IMO.

 

[TMGT]

The phase converter conversation was what I was refering to, I thought maybe a prior post to buickanddeere's got deleted as I couldn't see why it was brought up since it didn't have anything to do with the OP questions.

 

[TMGT]

Just went back to watch the video, have a little bit better understanding of bit coin but still not 100% there yet, had no idea there was such an industry dedicated to it.

Also noticed the post above it where someone mentioned wanting to build a rotary phase converter, guess I missed it the first time so makes a bit more sense.

 

[LD1]

Post #11, at the end, roadhunter made a comment that his next project is a 25hp rotary. That prompted buickanddeers comment

 

[TMGT]

Post #11, at the end, roadhunter made a comment that his next project is a 25hp rotary. That prompted buickanddeers comment

Yup

 

[bdog]

Bdog
Back to bitcoin. What is the reason (economic value) in bitcoin mining? What does bitcoin originator gain by solving the algorithm

The inventor of bitcoin created it such that only 21 million bitcoins will ever exist. The system auto adjusts the difficulty of the algorithms so that new bitcoin is only created every ten minutes regardless of how fast or how many computers are mining them. The last bitcoin will be mined around year 2140.

The cryptography behind the bitcoins is very secure. It would take the worlds fastest computer something like a billion years to crack one. Many people have adopted bitcoins as a safe currency. A digital gold. They are easily exchanged on a peer to peer network meaning you can send bitcoins (or fractions of bitcoins) anywhere in the world for a very low fee.

The Blockchain is the technology that make bitcoin work. It is a digital ledger of sorts that is maintained by every computer that is mining bitcoins. The network as a whole processes and verifies transactions. Participants are awarded bitcoins that are newly created but they also receive transaction fees as well.

While it is true these things were created out of thin air they have some pretty unique properties in that they are limited in supply and can not be duplicated. I can't really think of anything else on earth like them in that we know for a fact three will only ever be 21 million of them. Gold is hard to mine but who really knows how much exists? US dollars they can always print more. Once you can understand the concept and believe in the security of them you can see how they have value. Anyone in the world can buy a bitcoin and can trust that no entity, government or anyone can tinker with the supply of them.

 

[aeblank]

Seems like any currency starting up. Until it's widely adopted, it doesn't make sense. Like the dollar in the beginning vs gold. It's like it's worthless till suddenly not.

 

[roadhunter]

The phase converter conversation was what I was refering to, I thought maybe a prior post to buickanddeere's got deleted as I couldn't see why it was brought up since it didn't have anything to do with the OP questions.

True. It's my fault as I mentioned my next electrical project. Buckanddeer jumped right in with comments about how VFD's were superior to rotary converters but then refused to comment further after this comment.

rotary convertors are a piece of history from the bad old days when there was nothing better to make do with on the cheap. Now we go with a lower cost and more efficient variable frequency 3 phase drive supplied by single phase. Allows current limiting, torque limiting, start and stop ramping, reversing and variable rpm.

I assume because he figured out a VFD probably wasn't the best choice for may application and didn't' want to admit it. My understanding is there are good and bad points to both and each situation is different. I do like how cheap they are. Might be worth a couple of new threads for VFD's vs rotary converters and mining bitcoin!