Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Bye-bye bitcoin, hello AI: Texas miners leave crypto for next new wave
CNBC ^ | JUL 18, 2024 | MacKenzie Sigalos

Posted on 07/22/2024 1:15:43 AM PDT by Oscar in Batangas

click here to read article


Navigation: use the links below to view more comments.
first 1-2021-25 next last
This ONE company envisions a demand for additional 1.2-gigawatt electric supply buildout(!)

If the AI power demands across the country are factored in, where are we to get all those extra gigawatts? Mr. Fusion Flux Capacitors??!

I pity the poor Electric Vehicle schmucks who thought they'd have 'juice' on demand whenever their battery is low. We crossed that bridge SEVERAL nuclear power plant cancellations ago.

1 posted on 07/22/2024 1:15:43 AM PDT by Oscar in Batangas
[ Post Reply | Private Reply | View Replies]

To: Oscar in Batangas
Notice how Bill Gates is mum on AI. Save the world but devote gigawatts of electricity to "AI". HypocrAIte.

2 posted on 07/22/2024 1:20:10 AM PDT by Governor Dinwiddie (LORD, grant thy people grace to withstand the temptations of the world, the flesh, and the devil.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oscar in Batangas

Good thing you have all that windpower to power cryptomining using AI.


3 posted on 07/22/2024 1:50:27 AM PDT by Jonty30 (Trump beat Hilary in 2016. He ended her kill streak in 2024.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jonty30

Not “crypto mining with AI” just adding capacity for AI data centers. (AI & crypto mining 2 seprate/unrelated things).

From the article:
“Houston-based tech company Lancium and Denver-based Crusoe Energy Systems announced on Thursday morning a multibillion-dollar deal to build a 200-megawatt data center just outside Abilene that is designed to “meet the unique needs of AI companies” — such as enabling advanced cloud computing for applications like medical research and aircraft design. It is the first phase of a larger 1.2-gigawatt build-out.”


4 posted on 07/22/2024 2:03:31 AM PDT by Drago
[ Post Reply | Private Reply | To 3 | View Replies]

To: Drago

I see, two different functions. I thought somebody was adding AI to the capability of bitcoin mining.


5 posted on 07/22/2024 2:06:21 AM PDT by Jonty30 (Trump beat Hilary in 2016. He ended her kill streak in 2024.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Oscar in Batangas

This is a deep article to digest fully. It makes me wonder, as we daily wrestle with politics and trying to save the nation, if there are historical forces beyond politics that are about to sweep us off into unknown futures. One lesson here is that the so-called progressives are in fact anti-future, but the future has a bad habit of coming to pass in spite of us.


6 posted on 07/22/2024 2:18:12 AM PDT by chajin ("There is no other name under heaven given among people by which we must be saved." Acts 4:12)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jonty30

Yeah, BTC (Bitcoin) mining remains about the same (lots of “ASIC” chips working away)...was CPU based when I got interested in 2011 or so, then GPU chip mining then ASIC chips (electricity too much $$$ in CA for me to do any BTC mining any more). Been meaning to build a small scale/low power consumption crypto mining rig that runs on a solar panel or 2...just haven’t had time.

History:
https://www.coindesk.com/tech/2020/04/26/the-rise-of-asics-a-step-by-step-history-of-bitcoin-mining/


7 posted on 07/22/2024 2:18:15 AM PDT by Drago
[ Post Reply | Private Reply | To 5 | View Replies]

To: chajin

I have often wondered if the complexity of today’s technology will be our downfall.

My degree in nuclear engineering from 50+ years ago was realized thanks to tables of 4 to 6-digit factors in big books, printed during the W.P.A. era, and a slide rule. Those Manhattan Project scientists and early NASA engineers were absolute geniuses.

Nothing artificial about their intelligence.


8 posted on 07/22/2024 2:29:18 AM PDT by Oscar in Batangas (An Honors Graduate from the Don Rickles School of Personal Verbal Intercourse)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Jonty30

Passing through Indiana yesterday on the way home to the SE, I passed a wind turbine farm.

Out of the couple dozen I saw 3 or 4 barely rotating.


9 posted on 07/22/2024 2:39:22 AM PDT by wally_bert (I cannot be sure for certain, but in my personal opinion I am certain that I am not sure..)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Governor Dinwiddie
Bill Gates is now on the nuclear power bandwagon:
AI Is Fueling A 'Nuclear Renaissance.' Bill Gates And Jeff Bezos Are In The Mix

10 posted on 07/22/2024 2:55:49 AM PDT by RoosterRedux (It's funny that the harder I work, the luckier I get.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Oscar in Batangas

11 posted on 07/22/2024 3:34:18 AM PDT by ClearCase_guy (It will be Michelle.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oscar in Batangas

Bitcoin price has been steady since the Biden election announcement.

At 5:00 AM PST - $67,500 - a fraction above the close on Friday.

All time high close - $73,100 - March 2024

The current rally is the fourth in four months trying to break through and hold above $70,000.


12 posted on 07/22/2024 5:03:44 AM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oscar in Batangas

What happens to Bitcoin if all the miners find better things to do with their computers? As I understand it, a lot of the calculations Bitcoin miners do is verifying other Bitcoin transactions. If a large number of them decide other cryptocurrencies or even other projects like AI or digging up the old SETI@home project are more profitable or interesting, will that cause Bitcoin to collapse because transactions become slower to verify? If every credit card transaction took a half an hour instead of seconds, people would switch back to cash pretty quickly.


13 posted on 07/22/2024 5:07:34 AM PDT by KarlInOhio (7/13/2024:The day the Democrats and their SA chose assassination as their primary political tool.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RoosterRedux

Well, small modular reactors can be, and should be, one of the solutions to power generation; however, the distribution infrastructure will need to be vastly expanded. Meeting the energy requires for AI and the rest of the ever increasing demand will be analogous to fighting a huge fire with a garden hose. Dr. Copper should do exceedingly well regardless.


14 posted on 07/22/2024 5:18:04 AM PDT by Rlsau1
[ Post Reply | Private Reply | To 10 | View Replies]

To: Oscar in Batangas

K&E log log decitrig


15 posted on 07/22/2024 5:25:44 AM PDT by bert ( (KE. NP. +12) Where is ZORRO when California so desperately needs him?)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Rlsau1

And the regulatory complexity and speed are major impediments to the development/building of small modular nuclear reactors.


16 posted on 07/22/2024 5:29:29 AM PDT by RoosterRedux (Take Trump off ballots. Fail. Take his money. Fail. Put Him in jail. Fail. Assassinate him. Fail.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: KarlInOhio

I’m not 100% sure how the process works. However, I think that the ‘mining’ part deals with the introduction of new bitcoins into the system - analogous to the way gold ore is turned into new gold coins. Bitcoin transactions may be an entirely different deal altogether - more like verifying credit card transactions.
After the latest halving event, miners have been getting a shot at fewer coins as reward for work done. That encourages them look for other more profitable uses for their physical plant. As an aside, the hardware (chip sets) used to support AI might be different from bitcoin mining hardware. It’s just that the miners already have a large facility that can supply stable power with large amounts of cooling for machines that do other tasks for a better return on investment.
If someone who reads this statement knows for sure, I am very willing to become better educated.


17 posted on 07/22/2024 5:38:53 AM PDT by Oscar in Batangas (An Honors Graduate from the Don Rickles School of Personal Verbal Intercourse)
[ Post Reply | Private Reply | To 13 | View Replies]

To: bert

Wow! You were one of the rich kids.

-Leather holster as well??


18 posted on 07/22/2024 5:40:56 AM PDT by Oscar in Batangas (An Honors Graduate from the Don Rickles School of Personal Verbal Intercourse)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Oscar in Batangas

A New Era Technocracy

July 21, 2024 | Sundance 

Not surprisingly, a few people viewed my research presentation of JD Vance through a prism of negativity. [SEE HERE] We have many new readers who are not as in-tune with the details of how the bad parts of the DC surveillance state work.  So, let me take you behind the scenes a little and expand for context.

Nothing written about the data set, the facts within the JD Vance storyline, is incorrect.  Everything is cited, accurate and factually true. However, when you get into the intent and consequence part, that’s when people start to become emotional an issue. Some clarity is needed.

Commenter Freedom Ring provides a good example.  FR says,

JD has an association with Theil [sp?] & Musk; this could be worded to be a positive or negative, but the article paints it as a negative.”

This is correct. The research article positions the relationship between JD Vance and Peter Thiel as a serious challenge, here’s why.

Since his original endorsement of Donald Trump in 2016, a good thing, billionaire tech executive Peter Thiel has expanded his companyPalantir Technology, to be the leading edge of a data-processing system.  The Palantir tech is designed to use artificial intelligence (AI) to crawl through massive sets of surveillance data, phone data, facial recognition data, metadata (writ large) etc.

In essence Palantir Tech is receiving government contracts (Defense and Intel) to use the Palantir AI tools to analyze and filter massive amount of data and take action based on results from the electronic data, or what might be called SIGNIT (Signals Intelligence).  There are billions at stake in this relationship.

In short, Thiel has a vested financial interest in providing ai surveillance filtration tools to the U.S. government.

Ok fine. That’s just a simple acceptance of what the Thiel’s company does now. And Thiel recruited JD Vance back in 2012/2013 while at Yale law school, and personally financed JD’s entry into the world of politics in 2020/2021.  I won’t repeat all the citations but suffice to say, without Thiel there is no Senator/VP Vance.  Thiel leveraged his relationship with Donald Trump to get JD Vance the Ohio primary endorsement in 2022, and the rest is history.  Fair enough. Nothing disputed.

Here’s where things get sticky….

Thiel’s company Palantir Tech provides the AI metadata analytic tools used by the U.S. government in their national security efforts.  The government access to that metadata comes, in part, as an outcome of the legislative FISA authorization.  As a consequence, eliminating, say… FISA(702) surveillance processes, is against the financial interests of Peter Thiel.  If the U.S. government cannot access the dataset, the U.S. govt doesn’t need Palantir’s AI filtration tech.  That’s just the nature of the relationship.

Again, this is just a cold, factual acceptance of the situation.

Would JD Vance support the elimination of FISA(702), FISA Courts, or the National Security Division of the DOJ (something that forms the foundation of removing the worst elements of the Deep State), knowing that action would be adverse to the interests of his benefactor and mentor, Peter Thiel?

Again, just a question.  Perhaps he would, perhaps not; however, a review of history shows the odds are not in our favor.  I mean, there is a reason why Thiel recruited, financed, supported and guided Vance to the position he is now in, correct?

Elon Musk’s entire business model, sans X (maybe – lol) is contingent upon government contracts and policy.

Regardless of his altruistic disposition, or lack thereof, Musk’s enterprises, Tesla and Space-X, do not exist without direct government funding or indirect govt support via policy.  Peter Thiel is essentially in the same position with Palantir Tech, unless the U.S. Government gave him permission to sell his services to foreign adversaries.  Not likely.

Many are looking at JD Vance as the guy, maybe one of the ‘guys’, who can finally confront the worst elements of the Deep State.  However, the worst elements of the Deep State, the surveillance and control silos, are in a synergistic relationship with Vance’s benefactors.  Will Vance willingly tear apart the surveillance state, that will create a negative financial outcome for those who put him into office?  My note of caution is ‘don’t get your hopes up.’

I mean, seriously think about it.  Musk puts up USG satellites that monitor stuff.  The low-earth-orbit monitoring results (data signals) are returned to the USG.  The data signals are then analyzed by AI tech created by Thiel.

Another way to look at it…. Musk puts the camera on your face. Thiel tells the govt where you went.

♦ BIG PICTURE – Are the newest group of billionaire Silicon Valley tech leaders currently supporting MAGA Trump/Vance, really a modern assembly of the Green Dragon rebels in Boston, plotting the next Tea Party rebellion.  Or are they simply just the other side of a new modern Technocratic control system, aligned with and dependent on government?

The Obama-era Technocracy was based on public-private partnerships with social media.  This was the origin of the surveillance state that now scours, controls, filters, censors and ultimately monetizes your social media data profile.  The operational and business model is cemented into the process now. Everyone accepts it. Terms and conditions apply, and if you don’t agree, you can’t use.

Is the pending Trump-era Technocracy a rebrand, pushing social media off to the side (that part is done) and bringing data processing control agents, artificial intelligence software designers, big money venture capitalists, banks and those who are creating digital id systems. Does Elon Musk, Peter Thiel, Bill Ackman, David Sacks, Chamath Palihapitiya, Jacob Helberg, Vivek Ramaswamy occupy the empty chairs around the table of Technocracy?

Was the 5/10-year business model in the mind of tech billionaire Peter Thiel what led him to recruit JD Vance in 2013. Was it a financial decision blended with ideology to guide, finance and support JD Vance all the way to 2022 and 2024?  Was JD Vance an investment?

Truly, I suspect our gut knows the answer.

That’s why my approach is to say, “here’s the factual data – trust your instincts.

[SOURCE]

Around this time someone will snark, saying my assembling this perspective indicates President Trump is an idiot, or something.

NO!  President Trump is not stupid, or naïve!

CTH has painstakingly outlined how the silo process within the Deep State works.  You have more information about that process. You have more knowledge about that process.

All of us, courtesy of dozens of brilliant researchers here and in lots of other places on the internet, have a far more comprehensive understanding of how the systems within the DC administrative state work than any subset of professional politicians or their staff.

Are you stupid or naïve?  No.  None of us are.

However, many of us are sick and tired of having the virtue of our patriotism weaponized against us. For reference see DHS, ODNI, CISA, TSA, The Patriot Act, or any other of the myriads of crisis-created legislative solutions, later turned into tools by bad actors that inevitably diminish freedom.

I was sitting at dinner with a good person, who happened to be the head, the tipy-top, of one of the most connected IC silos in Washington DC, and that person laughed recalling situations where they walked into their office many days and frustratingly shouted at their staff, “who the f**k is leaking information to this guy,” meaning me.  No one was leaking anything, and the entire organization was just as surprised as the leader of it.

My point is that many ordinary Americans know far more about the interconnectedness of DC silo operations, than the people within the individual silos can fathom.

The overwhelming odds are that you know more than your federal representative. That fact doesn’t make you smarter than President Donald J Trump, that just means you have a different set of researched datapoints that create a different understanding.

Additionally, President Trump doesn’t “vett” anyone, someone else does the “vetting” for him.  That vetting helps him to make decisions, it doesn’t exclusively determine the final decision.

No one is stupid in this discussion.  No one knows all the information.  The fact-finding is a process of information assembly, that permits guidance to decision making.  That’s it.

The Foreign Intelligence Surveillance Act (FISA) might have been a good decision at the time, until it starts getting weaponized later on.

Given the nature of the political landscape, Senator JD Vance was a good selection for Veep.  A candidate for the office of the vice-presidency that will hopefully position President Trump and the people around him to be able to start putting countermeasure into place that will stop this government weaponization, a seemingly out of control surveillance state.

Senator JD Vance helps to unite the various Republican clans.

Perhaps more valuable, his selection reduces the possibility of the Silicon Valley Technocrats to work against OUR interests – as we look to control THEIR influence.

More importantly, Senator JD Vance makes winning in November of 2024 more likely.  That’s the key value in his personage. Perhaps Vance is a tool, perhaps he’s an ally, who knows.  We must understand the context of everything that comes with him, nothing more.

Trust God, and for everyone else – watch them like a hawk, while you live your best life.

If we win in November, we then have an opportunity to start putting countermeasures and guardrails into place that will seemingly impede the efforts of the bad operators within each IC silo.  Simultaneously, we need to identify who each bad actor is.

This mission then becomes the reversal of weaponization we desperately need.

I am optimistic about victory in November. However, I am also comprehensive about the nature of the enemy we face.

I recently suggested, partly tongue in cheek, for congress to enact legislation that simply says:

If any president dies during his term in office, all actionable authorization within agencies of the CIA, FBI, DNI and DHS is immediately revoked, until such a time as new legislative authorities can be debated, assembled and reauthorized by congress.

Daisy… Daisy…

Love to all.

19 posted on 07/22/2024 5:56:02 AM PDT by Bratch
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bratch

Democrats simply cannot “trust” their voters to make the proper selection for their nominee. This decision is best left to professional insiders who have access to pollsters who can inform them who to run, it’s not up to the people, it’s up to party bosses and mega donors.


20 posted on 07/22/2024 5:58:31 AM PDT by 1Old Pro
[ Post Reply | Private Reply | To 19 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-25 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson