Kazakhstan to restrict crypto miners amid power shortages

Post by floatingatoll » Wed, Nov 03, 2021, 10:39 PM UTC

consumer451 wrote: post #294

njarboe wrote: post #284

Earlier quoted context omitted.

If big crypto-mining syndacates start using small scale nuclear (as some have shown interest in doing) to be carbon neutral, they could be on the vangaurd of proving out the technology and be a net positive in the medium to long term. They really want low, consistent prices for electricity. Hydro gives them that but nuclear could also. Solar and wind do not.

> If big crypto-mining syndacates start using small scale nuclear... Any volunteers for living in the exclusion zones?

Post by rfd4sgmk8u » Wed, Nov 03, 2021, 10:44 PM UTC

dlubarov wrote: post #318

rfd4sgmk8u wrote: post #313

Earlier quoted context omitted.

There have been several consensus failures from PoS, including the recent outage of Solana. One just needs to look at the Steem/Hive 'takeover' by Sun to see how political wars can form and threaten the security model in PoS world. Contrast with bcash incident of 2017. A few years ago, I saw a Hybrid PoS/Work chain (a satoshi-client derivative coin) being attacked in real time, and totally hijacked. Ultimately it was…

> the recent outage of Solana Do you mean [1]? It sounds like the consensus issues there were related to Solana's unusual PoH model. Validators being "unable to process all the proposed forks" would never happen in a BFT PoS model, like Tendermint etc, since forks cannot occur (under a 2/3 honesty assumption). > Ultimately it was a bug in the PoS logic that enabled it. To state the obvious, PoW chains can have bugs t…

Post by sharperguy » Wed, Nov 03, 2021, 10:49 PM UTC

nwah1 wrote: post #62

cinntaile wrote: post #27

I wonder if cryptominers in poorer countries speed up the buildout of more stable and robust electricity networks in the long run? I understand they sometimes stress it too much in the short run such as here and then the regulators have to take action but the interplay on a longer timescale would be interesting to see.

You could say the same about whether bridges to nowhere generate important economic robustness. The problem with this view is it ignores that such activity crowds out the ability to do something actually useful with the same resources, while also producing all the same externalities (both positive and negative).

Post by ilammy » Wed, Nov 03, 2021, 10:57 PM UTC

azth wrote: post #281

pfortuny wrote: post #267

Earlier quoted context omitted.

Interest is not the same as usury whatever definition you use. The fact that your faith equates them does not make them equal. You are perfectly free to use them interchangeably in your mind but most people do not do so, and your use leads to misunderstandings. Interest, in traditional western societies is just the measure of the present value of future time, which is understood as valuable. Thus, money+time=“more mo…

> Interest is not the same as usury whatever definition you use. In Islam, there is no difference. If I lend you $10,000 and I ask for $10,000.01 back, that $.01 is usury. They are equal because both operate on the same exploitation principle, that not only pries on the poor, but exacerbates the wealth inequality gap that everyone is complaining about today. Once the door is open to artificially differentiate the two…

Post by consumer451 » Wed, Nov 03, 2021, 11:02 PM UTC

floatingatoll wrote: post #321

consumer451 wrote: post #294

Earlier quoted context omitted.

> If big crypto-mining syndacates start using small scale nuclear... Any volunteers for living in the exclusion zones?

Seems fine to me. I already have nuclear irradiated genes, I'm sterile, and I prefer nature for company over human beings. (If you were sarcastically implying that no one would volunteer, you are mistaken. I encourage making your point more clearly and with less sarcasm, since a worthwhile discussion is possible if you do so.)