How Texas is becoming a Bitcoin mining hub
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How Texas is becoming a Bitcoin mining hub
1–10 of 91 posts
Re: How Texas is becoming a Bitcoin mining hub
#2We'll see how that holds up, especially since the Texas power grid seemed especially strained in the last little while.
Re: How Texas is becoming a Bitcoin mining hub
#3So, what I gathered from this is that they will be using off-site power to run these "mining machines" while sucking up all the power they may get from solar they install and own at a time when those living there are experiencing blackouts in harsh weather conditions.
Gotta love Texas!
Re: How Texas is becoming a Bitcoin mining hub
#4So, what I gathered from this is that they will be using off-site power to run these "mining machines" while sucking up all the power they may get from solar they install and own at a time when those living there are experiencing blackouts in harsh weather conditions. Gotta love Texas!
This is not unique to Texas. Any private mining farm with its own electricity generation would operate like this.
Re: How Texas is becoming a Bitcoin mining hub
#5Always a good idea to build and consume renewable energy and then making heat out of it.
Texas power grid sounds very good: cheap and reliable.
Ah wait wait we talk about searching for arbitrary hashes which can't be recycled or actually used in a state which probably needs AC in summer and an independent unstable power grid in a time were every additional CO2 generated creates even more pressure for our society.
Perhaps not such a good idea?
Perhaps we should not let BTC consume solar panels and renewable energy and use it for things we actually need?
Re: How Texas is becoming a Bitcoin mining hub
#6So, what I gathered from this is that they will be using off-site power to run these "mining machines" while sucking up all the power they may get from solar they install and own at a time when those living there are experiencing blackouts in harsh weather conditions. Gotta love Texas!
If the price of electricity rises, then don't mine bitcoin, sell it back to the grid.
Re: How Texas is becoming a Bitcoin mining hub
#7Always a good idea to build and consume renewable energy and then making heat out of it. Texas power grid sounds very good: cheap and reliable. Ah wait wait we talk about searching for arbitrary hashes which can't be recycled or actually used in a state which probably needs AC in summer and an independent unstable power grid in a time were every additional CO2 generated creates even more pressure for our society. Per…
BTC providing demand for renewables stimulates the development of renewables. Any massive investment like in renewables carries a risk, and the higher the demand the lesser the risk for the investment on the supply side.
Re: How Texas is becoming a Bitcoin mining hub
#8We'll see how that holds up, especially since the Texas power grid seemed especially strained in the last little while.
Not many people seem to know that the power grid issue wasn't to do with the power grid...
I think Texas will do well with crypto from what I understand.
Re: How Texas is becoming a Bitcoin mining hub
#9I'm genuinely curious when the fat lady will stop singing in regards to Bitcoin. I sort-of understand the allure of ETH and its derivatives ("programmable money" does bring something new to the table), but BTC is supposed to be a "value store" yet is down 30% from November; or it's supposed to be a "currency" but you can't use it as one; or it's supposed to be "decentralized" but mining is monopolized by a handful of mining pools. If it looks like a speculative financial instrument and it quacks like a speculative financial instrument, it's probably a speculative financial instrument.
Maybe I'm just not smart enough to understand BTC.
Re: How Texas is becoming a Bitcoin mining hub
#10Not surprising that Texas Republicans are fully behind wasting as much energy as possible. They talk about renewables but most of the Texas mining will be powered by burning natural gas.