Heat Your Home for Free With a Smart Furnace. In this video, I talk about a smart high efficiency DIY home heating solution that can help reduce or eliminate your heating bill. This heater is Internet connected, remotely accessible, and uses very little power - resulting in reduced heating expenses. Also in this video I talk about Bitcoin and other cryptocurrencies. This video was created on 17 Nov 2017 and completed on 30 Nov 2017. Enjoy!
CORRECTIONS & CLARIFICATIONS
A viewer wrote with the following comment that offers a correction and clarification to the video:
You might want to mention that all electric resistance heat is 100% efficient (heat pumps are an exception, they are about 250-300% efficient because they *move* heat). The electric heater you have in the video; hair dryers; toasters; coffee makers; toaster ovens; electric baseboard; irons; burners on stoves; etc, are all 100% efficient (energy in = energy out).
You can't get something for nothing. If the PC costs about $30/month to run vs $108, then it is generating less than 1/3 the amount of heat ($30/$108 = ~28%). Also, since the motherboard and video cards are not intended to be heaters -- the heat is a byproduct -- they are less than 100% efficient as heaters, so something less than 28%. So there is some heat gain, just not nearly as much as a 1,500 watt heater running 24/7. You would need about four (4) of those computers to equal the BTU output of the one electric heater.
That's an important point to make.
Running the PC to mine bitcoin does actually make money, so any heat can be considered "free" in a way. You might say the total net earnings are $100 - $30 for electricity = $70. $70 + the value of the heat (not quite $30, but probably close). So almost $100, *in the heating season*. In the cooling season, the heat would actually be a negative. Not only could you not add the value of the heat (excess BTUs) you would have to subtract the cost of the additional load on the A/C system.
Also, the value of Bitcoin is extremely high right now. What happens to the $70/month earning when the value goes back down?
(1) EFFICIENCY. The term efficiency in the video is not meant to describe electrical efficiency, but cost efficiency. The actual efficiency of a heating system is based on purchase cost of heating system, how much heat it provides, and how much the operating costs are. It's with regard to the operating cost that this system becomes very efficient.
(2) SYSTEM REQUIREMENTS. Yes, a person would need to get more computers to heat a larger space, but over time each system will generate more money than it costs. This is why China and other countries have spent millions setting up currency mining facilities with thousands of computers. it's a good investment even if you're not trying to heat your home.
(3) BITCOIN VALUE. Yes, Bitcoin has gone up in value recently, and for this reason the system described is more profitable than it might be if the currency value drops to where it was a year ago. However, it's not likely to completely crash in value. In other words, as long as it produces more value than the cost of electricity, then it will be profitable. Some speculate that the cost may continue rising. If the market crashes, a person would be left with very capable and usable computers. So, not a bad risk.
Tags: Heat Your Home for Free With a Smart Furnace, Home Heating, Heater, Furnace, Computers, Bitcoin, Cryptocurrency, HVAC, Technology, Mining