Posted on 01/12/2021 2:56:56 AM PST by Norski
A region in the Pacific Northwest of the United States is on high alert because of concerns about a possible invasion of bitcoin (BTC) miners. The state has previously experienced an influx of Chinese bitcoin miners, due to decreasing electricity prices. Bitcoin Bull-Run Could Revive Interest in Mining, Officials Warn
Per the Seattle Times, bitcoin’s bull-run is putting the public utility districts (PUD) in Central Washington on high alert, monitoring for suspiciously high power bills. PUD officials claim crypto miners from China have come to the region to take advantage of its low hydroelectricity prices.
Such developments worry the Columbia River Basin authorities because the “2017-2018 mining boom could happen again.” Although electricity prices have been increased to combat mining, authorities believe new bitcoin miners could still establish themselves in the state.
So far the authorities haven’t seen an increase in commercial mining, however, the PUDs still brace for a return of “small-scale mines” that could overload local residential power lines.
John Stoll, managing director of customer utilities at Chelan County’s PUD, commented on the matter:
We haven’t seen that, but definitely we are keeping our radar up.
PUDs Are Not Willing to Welcome New Bitcoin Miners
Stoll says he doesn’t let his guard down, keeping an eye on market volatility:
The biggest concern we have is somebody coming in, we build 50 megawatts’ worth of capacity for them, bitcoin prices change, and then they just leave...
(Excerpt) Read more at news.bitcoin.com ...
Hmm.
Goofy Keiser was talking about bitcoin.....interesting take with an understandable Russia lean.....
Keiser Report | Bitcoin Beats the Money Printer Go Brrrr
https://www.youtube.com/watch?v=adQWQ9Rhbwk
And effing Bitcoin miners jacked up the price of gamer and video production/ render farm video cards. Last time nothing decent was available, and those that were, were 3x to 5x the MSRP. The games industry lost 15% to 25% sales a few years ago because of that. In a multi-billion dollar industry, that’s substantial. Many projects delayed or cancelled. Much industry unemployment.
Ok. But the Three Gorges Dam. . .
Good to consider this possible scenario, then.
Central Washington became a major farming area because of the dam there.
the Three Gorges Dam....has been constantly hyped as close to failing when in fact it’s doing what it’s suppose to do....the problems began with the “other” dams flooding and the Chinese Government decisions to break out some of them...this was done during their monsoon season when things got serious.
The Chinese will not let the three rivers dam fail.....that’s their big baby....although certain areas appeared to need a “fix” along the way.
Oh well, we have to massively increase our power generation capacity nationwide anyway because we will need it to power all the electric cars that will soon be mandated.
How will we ever pay for it?
Magic bitcoins, of course.
First time heard this. Interesting. Have heard the Chinese government breaking other dams. . . time to update information. Thank you.
lol
The influx of Irish into the area will have predicted results: Drunkeness, fighting, depression of miner wages.
s/
Can we just all agree to call them bit-coolies?
Regards,
Bitcoin reminds me of tulip bulbs being used as currency, except the former is “cool” and “high tech” and can be passed from one side of the world to the other without leaving one’s basement. It is not easily understandable. I would wager that a person involved in it could not explain the operation of the federal reserve. Like many things, people get caught up in new and exciting things and like musical chairs, will be stood up when the music stops.
Bitcoin seems to be an invention made for big money and big tech and world governments are in on it too. People who want to free themselves from “government control” seem to be easy marks. All the monetary crap aside, the unknown players behind the scenes are most likely big environmental sustainability supporters too, which is also being used to control people. Based on this article, I want to see the environmental footprint for bitcoin transactions. Seems to consume a lot of energy; wasting natural resources.
I do not easily understand but coin and hope my mutual fund does not invest it this they it them
PayPal has recently started allowing users to buy and sell bitcoins. That makes more sense now that I have learned that PayPal is 100% owned by the Chinese.
The three gorges dam did NOT do its job. From the beginning it was a vanity project. It does not have sufficient capacity. The cities beneath the dam had to be partially flooded from water releases so that the cities above the dam wouldn’t be totally flooded.
Alcoa used to melt a lot of aluminum there.
Big, short lines straight to a Columbia River dam.
Did you mean "butt coin"? Interesting play on words!
Interesting. I don’t use PPal, never have.
CN is definitely interested in long term destruction of US currency, and if bitcoin helps in that regard, not surprised. Short term, CN is “holding a lot of dollars” so it isn’t imminent.
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