Miners could organize and generate some goodwill by offering to pay more for their power use.
So that'll never happen.
Bitcoin backlash as ‘miners’ stress power grids in Central Washington
31–40 of 278 posts
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#32Those bargain rates are possible largely because the Basin’s five dams generate around six times what the region can use locally. Much of the surplus is exported, at premium prices, to outside buyers such as Puget Sound Energy, and those outside sales subsidize local rates. But if the utilities are selling more of their power to local Bitcoin miners, they’re exporting less power at those premium prices, which makes i…
If you are going to forego energy neutrality, why stop with the bitcoin miners? Could they charge controversial businesses like adult entertainment more as well?
Since they sell excess above local prices, all local usage drives up local prices.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#33It's hard to explain the levels of stupidity in this.
- people trading 'coins' in the same way Pokemon / WWF kids trade cards.
- thinking this is actually a long-term 'investment' strategy (well its idiots trading with each other ...)
- to top it off, siphoning off electricity and giving a load of shitty excuses 'it could be like Seattle's.
I don't know where to begin with this Bitcoin crap; it's gotten crazy that so many naive people are into this plopping their hard-earned money into a well-functioning sinkhole.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#34> But backers insist that a local mining sector, if allowed to grow, will attract other ancillary services, such as software development, and ultimately provide the Basin with some of the tech-fueled prosperity that Seattle has enjoyed. Wow. Any municipality who falls for this crock of shit would be crazy.
Indeed, my first thought for how to exploit is already covered in the article: > In other cases, utility crews responding to unusual spikes in power usage have found racks of remotely controlled servers whirring away in empty apartments. House and apartment rental and sale prices are lower than the Seattle area as well. You could rent a 1 bedroom apartment as a "weekend getaway studio with attached server room". One…
Well, aren't there laws that regulate the usage of buildings? Where I live (EU) you definitely cannot host mining racks in living premises. Just to get the higher power links you get questions asked.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#35I don't quite understand something: why are the terms "unpermitted", "unauthorized", and "bootleg" used in the article? When I signed up with Seattle Public Utilities, I didn't sign an agreement saying I wouldn't mine or run servers out of my apartment.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#36I don't quite understand something: why are the terms "unpermitted", "unauthorized", and "bootleg" used in the article? When I signed up with Seattle Public Utilities, I didn't sign an agreement saying I wouldn't mine or run servers out of my apartment.
Coming to a power utilities terms and conditions soon I would guess.
I wonder what source they will use in response. Generators, solar, move to Quebec?
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#37I don't quite understand something: why are the terms "unpermitted", "unauthorized", and "bootleg" used in the article? When I signed up with Seattle Public Utilities, I didn't sign an agreement saying I wouldn't mine or run servers out of my apartment.
Keep reading after 'unpermitted', and the answer right there in the article: "...running computer servers far too large for the electrical grids of residential neighborhoods"
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#38Subsidising energy prices for local consumers based on export revenues is widely practiced but is bad policy. The utilities should charge market rates for consumption and cut local rate-payers a cheque annually using a scheme that encourages energy saving practices.
Why shouldn't people who live in an area receive a dividend from the resource wealth of that area?
Property owners in cities receive similar dividends all the time, in the form of rising property prices.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#39> But backers insist that a local mining sector, if allowed to grow, will attract other ancillary services, such as software development, and ultimately provide the Basin with some of the tech-fueled prosperity that Seattle has enjoyed. Wow. Any municipality who falls for this crock of shit would be crazy.
In 2010 I decided the Puget Sound region was already too expensive and I moved to eastern Washington state. There is effectively zero software industry to speak of east of the Cascades, but if one wants to carve out a life away from Seattle / Portland / Silicon Valley, it can be done and miners certainly offer no attraction. Quite the opposite - the Port of Walla Walla is entertaining similar offers from miners seeking access to cheaper power, and I am hoping they are turned away.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#40Earlier quoted context omitted.
Indeed, my first thought for how to exploit is already covered in the article: > In other cases, utility crews responding to unusual spikes in power usage have found racks of remotely controlled servers whirring away in empty apartments. House and apartment rental and sale prices are lower than the Seattle area as well. You could rent a 1 bedroom apartment as a "weekend getaway studio with attached server room". One…
Well, aren't there laws that regulate the usage of buildings? Where I live (EU) you definitely cannot host mining racks in living premises. Just to get the higher power links you get questions asked.
My thoughts too. In the UK you would have to apply to the local authority for 'change of use' planning consent. Even changing between different classes of commercial use requires consent. This gets posted on the gate outside and in the local press. Anyone is free to write in and make their point known. Finally an official makes a recommendation to a committee of elected representatives at an open meeting.
If approved you now have a commercially rated site and have to pay 'business rates' (local tax based on the value of the property and the use it is put to) to the local authority. Sounds like there is a lot of opportunity to charge potential miners...
I think even commercial electric rates in the UK are around £0.17 kwh, so mining is not likely to trouble us any time soon!