Kosala Himachandra, founder and CEO of cryptocurrency storage platform MyEtherWallet, praised Bitcoin as a way to pay rent in Los Angeles between 2014 and 2015. When it came time to pay the bills, he wanted to convert his coins into cash to facilitate the same transaction.
Speaking to Cointelegraph, Hemachandra reminded her of purchasing Bitcoin mining machines in college while renting a room in her friend’s house. “I bought a bitcoin miner and then he was in my room,” he told Cointelegraph in an interview. “I broke it down, and the amount I earned from mining bitcoin was enough to pay the rent for this room, so it was mostly free and I didn’t have to pay any more electricity at the time.”
In the early days of Bitcoin, mining proved to be a more profitable gambit that required less modern hardware than it does today.
However, it wasn’t just fun and games. Hemachandra frighteningly noticed that bitcoin mining equipment emits a large amount of heat, making life in a Los Angeles room unpleasant. “It’s not as fun as it sounds,” he said, explaining that the San Fernando Valley where he used to live often had temperatures around 90 degrees Fahrenheit.
“Since I had a bitcoin miner in my room, he ran through it, and then I had an air conditioner, which was almost not there,” he recalls. “It was difficult to keep it at a viable level.”
Many early players in the blockchain industry share similar sentiments, often talking about how they’ve creatively used their past digital assets.