What If I told you there was still a way
in this world to get free Ethereum…yes FR double EE Free. It’s a loophole, but that
hole is still out there to this day. So let’s tie or loop and wrangle it in cowboys and
cowgirls, because it’s time for Chico Crypto! The cowboy yeehaw and this weekend's live
stream which detailed elon musk moving to Texas gave a real big hint into today’s
video. This loophole to get free Ethereum ties right into Elon Musk, Tesla
& the Tesla supercharging network. So just spit it out Tyler…what
are you talking about!? Well it’s possible to convert your Tesla, and
it’s battery into an Ethereum mining machine. And this car hack actually already made it’s
way through the media cycle…back in 2017. Vice covered it in their article “Can You Mine
Cryptocurrency With a Tesla? A Feasibility Study” And that feasibility study, found yes it’s
possible and some people were claiming to be doing it out of the trunks of their Teslas.
And here
is the kicker…the article states “Now at least one Tesla owner is getting a piece of the
action by installing mining rigs in their trunk to take advantage of the free electricity
provided to some Tesla owners—or so it seems” Yes, Tesla really needed an incentive for
people to buy their cars, back in the day so for the first few years of
the Model S and Model X programs, unlimited free Supercharging was one of the
top perks that Tesla offered to its customers. Supercharging what is that? Well
I’m sure you’ve seen a station around a city or two…it’s there countrywide
networks that allow owners to charge their cars extremely fast, from 0 to
full charge about an hour. So early Tesla customers, they have lifetime free
unlimited charging of their vehicles through these charging networks.
They can fill up their battery
“For Free” whenever and however much they like… Elon Musk obviously knew the
perk wasn’t sustainable and he even admitted that they should have
ended the incentive earlier…saying this in 2017 ““Sorry, it’s not really
sustainable at volume production and doesn’t incentivize optimal behavior. We
probably should have ended this earlier” So what cars still qualify? Well it has to be a
tesla, ordered before 1/15/2017…and received by March 2017…that is the cutoff for the unlimited
lifetime charging…So if you are looking for one of these, and it’s before that date range….there
is another kicker… it has to be transferable, the lifetime charging…what does that mean?
Well if Tesla buys it back, to sell used…they take away this perk. You have to buy it from
a private party, a person…no third party dealers…the perk is disqualified from what
I have read if it goes through a dealer down the line…so you have to make sure it has
this perk for one, and it’s transferrable In 2018, Elon did bring back this unlimited perk
to the vehicles for a short amount of time too, a small window…but it was brought back, then
once again in August of 2019 for the model s and x, but then removed it again in May of 2020.
So there are windows of free
unlimited supercharging, you just have to make sure it
has it, and it’s transferable, not bought through a dealer, or ever
went through the third party pipeline. Now, I am not recommending this whatsoever….it
will probably void your warranties, you could possibly blow up your
vehicle & battery. So don’t do it! This is just a feasibility look, into
possibilities that are out there… So how much could you freaking make,
using your Tesla to mine Ethereum if that was all it was being used for? And I’d like to thank Vice’s article for some
of this data, it made it easy on me… Now. we’re looking for the most profitable,
efficient, and readily available mining machines on the market machines..that is
the innosilicon a10 pro.
The specs of it, 750 watts and a beast of power compared
with GPUs…500 megahashes per second. So let’s fit 4 of these bad boys, for a total of 3000 watts and 2000 megahashes per
second. Now turning that 3000 watts into kilowatt hours, if it was ran 24 hours..we get
72 Kilowatt hours to power the 4 a10s all day. As we can see from Wikipedia, Tesla’s battery
packs range from 60kilowatt hours to 100, so it’s feasible to power this all day from just
one fill up from free supercharging station. But the strain on your battery would be big!
Tesla’s get an average of 3 miles per kilowatt hour out of their battery.
You take the 72
kilowatt hours from mining, and multiplied it by 3, that is equivalent to your Tesla 216
miles per day, or over 1500 miles per week. Would that be worth it? The big question is….how
much could you make with 4 a10s running all day? Well minerstat.com has nice calculator tool..let’s
put in the 2000 megahashes, 3000 watts of power, not paying a pool fee, and the electricity cost
is a big ole goose egg zero…and as we can see, that’s profits of over 76 dollars a day,
over 532 per week, and $2281 for the month. Not freaking bad whatsoever…as that’s
over 27 thousand dollars for the year, if all things stay the same, including hashrate
and ethereum’s price.
If ethereum goes up…you will be in the profit in USD terms even more… But costs….as we can from it’s possible to
get an a10 pre, but the cheapest your paying is around $4500 bucks. So 4 of those is going to
cost you $18 grand. A large upfront cost….but, also you gotta remember, you have to find
a tesla….which has unlimited supercharging, and it is transferable….a tough
find, meaning no third party dealer, no used from Tesla..meaning no payment
plan and another large upfront cost….
Not terrible though…as if you go to Kelley
Blue book, and the trade in range for a good condition 2012 Tesla Model S, with 150 thousand
miles is on average, just 12 thousand bucks. Total investment….mining machines plus the tesla is about $30k, and profit if all
things stay the same after one year is over 27 grand…that means this could pay
itself off and break even in just over a year. Now, with this example, it better pay itself
off, because the mining machines we were using in the example, were specialized for
the Ethereum proof of work Ethhash algorithm. We all know Ethereum is switching to
proof of stake, and those machines might not be as profitable once the full
switch happens..estimates between 1 to 2 years.
But you don’t just have to mine
ethereum. You could eventually sell those machines pre switch, and then use
the Tesla to mine bitcoin, dogecoin, monero, any proof of work algorithm, the battery could
be converted and used to mine cryptocurrencies. I just showed Ethereum as it’s the most profitable
right now…but you could also keep the machines, and mine Ethereum classic, as it’s sticking with
the ETHhash algo. Now sticking in the stats of the Tesla Ethereum mining machine…. look at the
profitability with ethereum classic today…not bad, less than ethereum, just over 1200
per month…but that’s still over 15 thousand per year. Your Tesla could still be
profitable, post Ethereum proof of work switch.
But like I mentioned this is just theory, is it
feasible, and what would the results look like based on the figures. But Elon, if you watched
this video, don’t be mad I showed a loophole to mine crypto for free…but embrace this
loophole, and use it in your own business. I’m not saying open up free unlimited charging
to everyone and put miners in directly in every freaking Tesla…that is definitely unsustainable,
but for the customers who create their own power, and store it with your full cycle systems,
panels, batteries and all…wouldn’t it make sense to give them the freedom to
do with this saved power as they please? Wouldn’t it be awesome, if proof of work
crypto networks…were secured sustainably, by people using renewable energy. Instead of
securing them with environmentally consequential energy…Tesla, with their
distributed full cycles systems is the only global business in a position to do
this on a large enough scale even for Bitcoin… And BTC is sticking with proof of work….while
Tesla and their sustainable goals aren’t going anywhere. So your vehicle…a
crypto miner today…yes! Your home a crypto miner in the future? It’s
possible.
Cheers I’ll see you next time.
