Bitcoin Mining - Anyone have this going on in their town?

[KQ]

Our port wants to rent space to bitcoin miners on a temp basis to see how it goes. Not sure if it's a great idea myself. There will be hearings on the matter for community input. Anyone? Thoughts?

Here's an article about mining going on in Wenatchee:

This Is What Happens When Bitcoin Miners Take Over Your Town

[PNWbrit]

Our port wants to rent space to bitcoin miners on a temp basis to see how it goes. Not sure if it's a great idea myself.

Bitcoin mining will probably go down as one of the most stupid human activities, ever.

[TAFKALVS]

Yeah, it's dumb, it has jacked up commercial rent prices and has meant there is ZERO available commercial space to rent, any money made beyond paying for basic services gets spent elsewhere.

[Meathelmet]

Bitcoin mining will probably go down as one of the most stupid human activities, ever.

Aye! Seconded.

[skaredshtles]

Bitcoin mining will probably go down as one of the most stupid human activities, ever.

Don't tell @stalefish3169

[fatnslow]

Our port wants to rent space to bitcoin miners on a temp basis to see how it goes. Not sure if it's a great idea myself. There will be hearings on the matter for community input. Anyone? Thoughts?

Here's an article about mining going on in Wenatchee:

This Is What Happens When Bitcoin Miners Take Over Your Town

Every carpet bagger in the world is scheming for this right now and hitting up third tier towns with excess or cheap power. Lot of small towns are gonna be left holding empty bags soon when it actually starts being regulated.

[digitaldeath]

mine DOGECOINS

[digitaldeath]

Every carpet bagger in the world is scheming for this right now and hitting up third tier towns with excess or cheap power. Lot of small towns are gonna be left holding empty bags soon when it actually starts being regulated.

fkn hate carpetbaggers

[Bobby Stainless]

They're the worst.

[S_jenks]

We have one in Bonner just outside east Missoula that has been in the news over noise complaints. Now while this problem isn't only exclusive to bitcoin miners, it does raise a few points:

1) The owner doesn't give a shit about respecting the local community when it comes to noise pollution. It's becoming clear that they have checkered pasts with the bitcoin mining, and one of the owners already had bankrupted a mining operation in CA to the detriment of the local taxpayers.

2) The server farm gobbles up large amounts of electricity, which in our state is a bit concerning. One server farm isn't a concern as much as the possibility for others to start coming into the state. MT doesn't have the best infrastructure to deal with it, and nobody wants to foot the bill to accommodate this small minority of 'businessmen'.

3) It's an absurd practice that doesn't benefit the community at all. It doesn't really add any jobs to the community, takes up commercial space that might be best-suited for other uses, and pisses off the neighbors living near the farm. And that's before you add the fact that they are doing all this in pursuit of a digital currency that has no official backing by any state, no mechanism for valuation (other than speculation), and is as volatile as Gordon Ramsey in the middle of dinner rush.

These people ain't getting any love in my book. Go the fuck elsewhere with your shitty server BS, and leave our state alone.

[mcsquared]

Maybe a dumb question, but where does all the noise come from? Aren't hey just room full of computers humming along turning perfectly good electricity into really long strings of numbers that are supposedly worth something?

[stalefish3169]

Bitcoin mining will probably go down as one of the most stupid human activities, ever.

Don't worry. The US government is in control. Everything will be fine. The oligarch string pullers are definitely looking out for you and your family.

"The national debt, which has exceeded $21 trillion, will soar to more than $33 trillion in 2028, according to the budget office. By then, debt held by the public will almost match the size of the nation’s economy, reaching 96 percent of gross domestic product, a higher level than any point since just after World War II and well past the level that economists say could court a crisis."

https://www.nytimes.com/2018/04/09/u...ing-trump.html

Also, there is a whole Bitcoin thread if y'all want to take your, it's 1992 and this whole internet thing will never work, comments over there.

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[TAFKALVS]

Tell me how bitcoin is benefiting my community? (I'm in the wenatchee valley, and up until they moved in to town, I was very supportive of crypto currency.)

[glademaster]

Tell me how bitcoin is benefiting my community? (I'm in the wenatchee valley, and up until they moved in to town, I was very supportive of crypto currency.)

Dude, it isn't about YOU, it's about the fearless entrepreneurs and groundbreakers who are out there rapaciously using your community to suit their own ends.

[S_jenks]

Maybe a dumb question, but where does all the noise come from? Aren't hey just room full of computers humming along turning perfectly good electricity into really long strings of numbers that are supposedly worth something?

You're correct about the servers not being the noisemakers-- it's actually from the 450 fans keeping them cool. For the roughly 12,000 servers set-up there, they need a large air-cooling system to keep them all from overheating.

[PNWbrit]

Don't worry. The US government is in control. Everything will be fine. The oligarch string pullers are definitely looking out for you and your family.

"The national debt, which has exceeded $21 trillion, will soar to more than $33 trillion in 2028, according to the budget office. By then, debt held by the public will almost match the size of the nation’s economy, reaching 96 percent of gross domestic product, a higher level than any point since just after World War II and well past the level that economists say could court a crisis."

https://www.nytimes.com/2018/04/09/u...ing-trump.html

Also, there is a whole Bitcoin thread if y'all want to take your, it's 1992 and this whole internet thing will never work, comments over there.

Like I said....

[stalefish3169]

Tell me how bitcoin is benefiting my community? (I'm in the wenatchee valley, and up until they moved in to town, I was very supportive of crypto currency.)

Long complex answer there...but buying supplies, paying construction workers, etc. are some obvious examples. All though much harder to see immediately, Bitcoin is facilitating a translation to a more decentralized and equitable future for the world.

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[TAFKALVS]

Can you admit that it's worthless as a currency since it's so unstable? I like the concept... but it doesn't really seem like it's working out that way.
Also, do you think it's a good thing that bitcoin (and other crypto) mines are using up an entire communities power supply?

[abraham]

Can you admit that it's worthless as a currency since it's so unstable? I like the concept... but it doesn't really seem like it's working out that way.
Also, do you think it's a good thing that bitcoin (and other crypto) mines are using up an entire communities power supply?

I might be ok with it if the calculations were used to do something productive for the world. But they aren't. I think I've read about a few projects to change that but I'm not certain about it and I haven't gotten too involved in reading about it

[stalefish3169]

Can you admit that it's worthless as a currency since it's so unstable? I like the concept... but it doesn't really seem like it's working out that way.
Also, do you think it's a good thing that bitcoin (and other crypto) mines are using up an entire communities power supply?

I think saying it's worthless is a little too strong. Volatility will likely decrease as adoption increases.

Most areas along the Columbia River use massively less energy than they produce and ship it out of state (to California) anyway. I admit that BTC is power hungry, but that is likely to be less of an issue when scaling solutions like the lightning network get implemented. Are you pissed at Google and Facebook, etc. for setting up huge server farms along the river while getting huge publicly funded tax breaks so their wealthy shareholders can become wealthier?


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[AdironRider]

Tesla fanboys and bitcoin miners are never going to have a rational debate with you, they are too blind to the hype.

[digitaldeath]

ill post up article from the new 2600

bitcoin or bitscam

[PNWbrit]

Volatility will likely decrease as adoption increases.

These tulip bulbs will increase in value if we can just get more people to want tulips.

[TAFKALVS]

I might be ok with it if the calculations were used to do something productive for the world. But they aren't. I think I've read about a few projects to change that but I'm not certain about it and I haven't gotten too involved in reading about it

I agree. Before the mining thing became a big deal and it was a more stable currency, it was useful for people to move their hard earned money from 3rd world tin-pot dictators. But greedy tech-bros ruined it.

I think saying it's worthless is a little too strong. Volatility will likely decrease as adoption increases.

come on man, besides buy more crypto, what can you do with it? Do you convert your crypto to "real" money or do you buy anything with it directly?

Most areas along the Columbia River use massively less energy than they produce and ship it out of state (to California) anyway.

yes, until the crypto dorks came to town... now our PUD is going to have to BUY power. The cheap power and selling the excess thing has been a huge benefit. Not we're looking at needing infrastructure upgrades and power consumption that shouldn't have been needed for 20 years...

I admit that BTC is power hungry, but that is likely to be less of an issue when scaling solutions like the lightning network get implemented.

welll, hurry up, the citizens patience is growing thin.

Are you pissed at Google and Facebook, etc. for setting up huge server farms along the river

Nope, I think long term, stable tech jobs will be a huge benefit for our valley. but all the cryptonerds I've met seem to have the prospector/gold miner attitude. They're not here for the long term. If some other new get rich quick scheme comes along, they'll go for that instead. And if that involves moving somewhere else, they'll jump on it.

while getting huge publicly funded tax breaks

not okay with this part, at all.

NIMBY!

(for the record, I'm a Ron Paulite.)

[Danno]

Long complex answer there...but buying supplies, paying construction workers, etc. are some obvious examples. All though much harder to see immediately, Bitcoin is facilitating a translation to a more decentralized and equitable future for the world.

Come on, man. There is very little community benefit here, and what there is most surely is offset by the negative effects. It's ok to say "hey, this is capitalism, the conditions there are favorable to this activity and they are paying the going rate". And it's fine if you think bitcoin and the like are going to ultimately have a net benefit for the world. But you make those arguments weaker when you ignore the legitimate concerns of these small communities and argue that the communities as a whole get some greater benefit from having massive server farms next door.