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I don't get the bacon either but my boss just did bacon for 24 hours and then fried it to crisp it. Said he saw the recipe online.
And I'm aware of the cooler mod as well I'll be doing mine this week. But a cooler could mean a sizable piece of meat or it could just mean your using it for insulation to be more efficient.
My guess is a less desirable cut of beef like chuck or round.
I've done both sous vide with excellent results. I usually go 36-48 hours for chuck, and 24-36 hours for round. I check it at the lower numbers for tenderness, and continue on if needed.