You owe taxes on this 100% efficiency zero-emission electric heater because it also pays bitcoin #owe #taxes #efficiency #zeroemission #electric #heater #pays #bitcoin

You owe taxes on this 100% effectiveness zero-emission electric powered heater simply because it also pays bitcoin
Watch Resource

Share this post

Comments (27)

  • Wise-Application-144 Reply

    Under any normal taxation situation (where your profits are taxed), your setup wouldn’t incur any tax, as you (purposefully) run at a loss, because your primary aim is to heat your home.

    Bitcoin heaters just mean you run at *less* of a loss than normal electric heaters, where you make no revenue at all. In developed nations where electricity is expensive, it’s unlikely anyone would ever profit from their bitcoin heaters.

    If you did, normal capital gains would apply.


    Problem is the government is proposing taxing your *costs* – which is a very unusual situation.


    I’d generally be opposed to tax on anything other than profits, as it has the potential to be regressive or even ruinous to people and businesses.

    March 11, 2023 at 11:11 am
  • erefernow Reply

    What is that rig? I can’t read the logo at the end of the video.

    March 11, 2023 at 11:11 am
  • Alone_Tear9329 Reply

    And they know this how?

    March 11, 2023 at 11:11 am
  • qqanyjuan Reply

    I don’t think you understand what “100% efficient” and “zero-emission” means

    March 11, 2023 at 11:11 am
  • nfurth1 Reply

    You dont owe anything to criminals and extortionists

    March 11, 2023 at 11:11 am
  • TaliDontBanMe Reply

    Where can I get one of these or learn more?

    March 11, 2023 at 11:11 am
  • Homegrownandy Reply

    Aren’t all electric heaters zero emission?

    March 11, 2023 at 11:11 am
  • Previous_Ostrich8877 Reply


    March 11, 2023 at 11:11 am
  • downtownjj Reply

    technically i owe taxes if i buy a poster with bitcoin. but i dont do it because its stupid… i use bitcoin without reporting every last instance to the irs. i consider it civil disobedience.

    if i sell for fiat on an exchange ill report that though

    edit: this situation makes me think of the time i heard about how early automobiles were overregulated

    March 11, 2023 at 11:11 am
  • Forgot_Password_Dude Reply

    stop telling the IRS that you owe taxes

    March 11, 2023 at 11:11 am
  • Stack3 Reply

    Is it loud? Where do I get one?

    March 11, 2023 at 11:11 am
  • Monkeyblock Reply

    Who is the manufacturer of this Bitcoin-heater?

    March 11, 2023 at 11:11 am
  • adognamedpenguin Reply

    What is this and where do I buy it instead of putting a new fireplace on my porch?

    March 11, 2023 at 11:11 am
  • kwiknikk Reply

    Just FYI, all space heaters are 100% efficient. Any electricity lost will dissipate as heat or some shit like that.

    March 11, 2023 at 11:11 am
  • Buuuddd Reply

    What’s the economic breakdown of this?

    March 11, 2023 at 11:11 am
  • TotesGnar Reply

    How the hell would the IRS even know you own that thing? Does it produce a 1099?

    March 11, 2023 at 11:11 am
  • AnonBitcoinCat Reply

    It’s my first comment ever on Reddit but I feel really inspired in this moment. Can I say fuck them, Biden, fed and their laws?

    March 11, 2023 at 11:11 am
  • OfWhomIAmChief Reply

    What is tax?

    March 11, 2023 at 11:11 am
  • Human_Frame1846 Reply

    So how long does it take to mine a single bitcoin though

    March 11, 2023 at 11:11 am
  • jtoomim Reply

    Space heaters (like Bitcoin miners) are not 100% efficient at generating heat. The belief that they’re 100% efficient comes from the mistaken belief that the formula for heating efficiency is this:

    Efficiency = heat_energy_output / work_energy_input

    But that is not the correct equation. One joule of work can create far more than one joule of heat energy output by using a heat pump.

    100% efficiency for a heating system is when *entropy remains constant*. At any lower efficiency level, the entropy of the system increases.

    The change in entropy for any given heat flow is equal to [the amount of heat divided by the temperature of the destination of the heat](

    ΔS = ΔQ / T

    (Q = heat flux, T = temperature, ΔS = entropy change)

    If you use a Bitcoin heater or any other space heater, that entropy change will be positive and large.

    A more efficient strategy is to use the electrical work energy to *move* heat from outside your house to the inside of your house. In this situation, you use work (electricity) to remove entropy and energy (ΔQ_C) from the cold side, and increase the entropy and energy of the hot side (ΔQ_H). The waste heat from the work performed (W) ends up on the hot side as well. If you do it with 100% efficiency, the total entropy change can be zero:

    ΔS = ΔQ_H / T_H + ΔQ_C / T_C = 0
    ΔQ_H = –ΔQ_C + W

    If you do a bit of math, you end up with [this equation]( for the work needed by a maximally efficient heating device:

    W = Q_H • (T_H – T_C) / T_H

    We call that the [Carnot limit](

    If it’s 0°C (273K) outside and 20°C (293K) outside, that means that for every 1 kWh of heating that you want, the work that you’d need to perform is

    W = 1 kWh • (293K – 273K) / 273K = 0.0733 kWh

    The efficiency of a heater is the amount of work used divided by the amount of work needed, so for a Bitcoin miner that uses 1 kWh to produce 1 kWh of heating, its efficiency would be this:

    Eff = work_needed / work_used = 0.0733 kWh / 1 kWh = 7.3%

    tl;dr: **Your Bitcoin heater is about 7.3% efficient, not 100% efficient**.

    March 11, 2023 at 11:11 am
  • ZealousidealLie9249 Reply

    How is it zero-emission though? Do you a have clean energy contract with your electricity provider?

    March 11, 2023 at 11:11 am
  • Twonke Reply

    The place I rent has free utilities, what’s the best miner heater to buy?

    March 11, 2023 at 11:11 am
  • Magnus_Effect_Kalsu Reply

    If you are in the US, you need to account for each “payout” to your wallet since its essentially income, you need to account for your cost basis and add them up throughout the year and document it on your taxes.

    This is what you are supposed to do, just so you know.

    March 11, 2023 at 11:11 am
  • No_Insurance6064 Reply

    BTC is not legal tender, I cannot pay tax on something what does not exist…

    March 11, 2023 at 11:11 am
  • AddictedToCSGO Reply

    Does it at least pay off the electricity?

    March 11, 2023 at 11:11 am
  • Frangan_ Reply

    Would you still say that next year with the reward halving?

    March 11, 2023 at 11:11 am
  • DarthUmieracz Reply

    You pay taxes for mining??
    Laughs in european.

    March 11, 2023 at 11:11 am

Leave a Reply

%d bloggers like this: