Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
Brownslave688
You want a toe? I can get you a toe.
UpstateNYUPSer(Ret)
Well-Known Member
Our city is dealing with an unintended negative consequence of cryptocurrency mining operations-----the unfair use of cheap electricity.
We get the bulk of our electric power from HyrdoQuebec for about 5 cents per kwh. We have one main bulk electricity user----our local Georgia Pacific plant----which employs about 150 people and accounts for about 10% of our total monthly consumption of electricity. They are a positive contributor to our local community, whether it be through the taxes that they pay or their sponsorships of local events.
Cryptocurrency mining operations are being lured by our dirt cheap electricity to set up shop within our borders.
We have two commercial cryptocurrency mining operations within our city borders. The space heater sized computer servers operate independently, thus negating the need for full time employees beyond the few that are on hand to monitor operations. There are huge exhaust fans which blow the hot air out in to the open. These two operations combined contribute little to our local community yet consume more electricity than GP, forcing our local MLD to purchase electricity on the open market at roughly 40 cents per kwh. Homeowners have experienced spikes of up to 40% on their residential electric bills.
The city is mulling the implementation of an 18 month moratorium on the approval of any new mining operations within our city limits while they work with the PSC to see if it would be feasible to tack on a surcharge for high end users such as these farms. They are also looking in to the feasibility of harnessing some of the energy currently being exhausted in to the open air.
City preparing for cryptocurrency moratorium
We get the bulk of our electric power from HyrdoQuebec for about 5 cents per kwh. We have one main bulk electricity user----our local Georgia Pacific plant----which employs about 150 people and accounts for about 10% of our total monthly consumption of electricity. They are a positive contributor to our local community, whether it be through the taxes that they pay or their sponsorships of local events.
Cryptocurrency mining operations are being lured by our dirt cheap electricity to set up shop within our borders.
We have two commercial cryptocurrency mining operations within our city borders. The space heater sized computer servers operate independently, thus negating the need for full time employees beyond the few that are on hand to monitor operations. There are huge exhaust fans which blow the hot air out in to the open. These two operations combined contribute little to our local community yet consume more electricity than GP, forcing our local MLD to purchase electricity on the open market at roughly 40 cents per kwh. Homeowners have experienced spikes of up to 40% on their residential electric bills.
The city is mulling the implementation of an 18 month moratorium on the approval of any new mining operations within our city limits while they work with the PSC to see if it would be feasible to tack on a surcharge for high end users such as these farms. They are also looking in to the feasibility of harnessing some of the energy currently being exhausted in to the open air.
City preparing for cryptocurrency moratorium
Brownslave688
You want a toe? I can get you a toe.
Litecoin (LTC) Chosen by Abra Global for Crypto Portfolio App - Cryptovest
While big price jumps are not happening at the moment very big things for the future of wealth transfers are still happening.
While big price jumps are not happening at the moment very big things for the future of wealth transfers are still happening.
Brownslave688
You want a toe? I can get you a toe.
So for those of you that are all about asset backed things. This could change the way stocks are traded as much as the Internet did. Before the Internet you needed a broker to Buy stock with very high fees. Now you have online brokers who you buy thru. They really brought down fees but it's still usually 5-8 bucks per trade.
Now move those trades to a blockain and you are looking at a couple bucks tops.
You also have the option of companies moving completely off of the exchanges (DOW NYSE S&P) and offering ICO's instead of IPO's.
How the blockchain will transform the stock market | The Network | The Network
Now move those trades to a blockain and you are looking at a couple bucks tops.
You also have the option of companies moving completely off of the exchanges (DOW NYSE S&P) and offering ICO's instead of IPO's.
How the blockchain will transform the stock market | The Network | The Network
And the Hunt brothers thought they was going to take over the silver market...
Brownslave688
You want a toe? I can get you a toe.
Here's the problem with bitcoin. There's no one running the show. Without someone running the show then it's very hard to reach consensus on things and when they are met it's usually after someone else is already ahead of them.
Brownslave688
You want a toe? I can get you a toe.
You see Gemini is adding litecoin?
brownmonster
Man of Great Wisdom
I met Dorsey when Twitter was in its infancy. He never mentioned bitcoin.
Supposedly they will be adding bitcoin cash as well.
Brownslave688
You want a toe? I can get you a toe.
Yep. I steer clear of it since the developer comes across as a real POS to me.
