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Bitcoin energy use in Iceland set to overtake homes, says local firm - BBC News

mark_cameron
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13 minutes ago, mr moose said:

 

 

 

The article clearly says it is both current and proposed data centres that are mining bitcoin, Unless you have proof Johann Snorri Sigurbergsson is lying, then your emotional reaction to bad bitcoin news is easily as bad as your assumption that the media are wrong or just want to blame bitcoin. 

The media allmost every time is lying about Cryptocurrencies because they are not allowed to promote it.

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1 minute ago, Hip said:

The media allmost every time is lying about Cryptocurrencies because they are not allowed to promote it.

Says who? 

 

The BBC has outright claimed that Johann Snorri Sigurbergsson  said : " he expects Bitcoin mining operations will use around 840 gigawatt hours of electricity to supply data centre computers and cooling systems, for example. ",  can you show me where he didn't say that? 

 

In fact can you show any evidence that news outlets "almost every time" are "lying" or "not allowed" to promote it?

Grammar and spelling is not indicative of intelligence/knowledge.  Not having the same opinion does not always mean lack of understanding.  

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45 minutes ago, Hip said:

I bet this is again just fearmongering to blame BTC. Iceland can produce clean and cheap energy from its thermal sources without a problem.

"Without a problem" as long as its 300k inhabitants use it normally, not if they use it for gpu farms. I can definitely see this being an issue for them if it gets out of hand, there is a limit to how much sustained power you can get from a geothermic souce.

Don't ask to ask, just ask... please 🤨

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9 minutes ago, asus killer said:

cheap electricity, so it's to be expected. Increase prices and problem goes away.

 

then again saying there is nothing in it to Iceland is wrong. Electricity pays taxes and because almost all their electricity comes from renewable, they get more taxes at no cost.

Again, sustainable energy doesn't mean unlimited power at a whim. Their infrastructure may simply not be up to the sudden surge in demand and expanding would cost a lot of money without the certainty of a long term return on the investment. By this logic, we could all import electricity from Iceland at "no cost" and solve the world's energy problems... but it doesn't work that way, does it?

Don't ask to ask, just ask... please 🤨

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1 minute ago, Sauron said:

Again, sustainable energy doesn't mean unlimited power at a whim. Their infrastructure may simply not be up to the sudden surge in demand and expanding would cost a lot of money without the certainty of a long term return on the investment. By this logic, we could all import electricity from Iceland at "no cost" and solve the world's energy problems... but it doesn't work that way, does it?

i'm not defending crypto, i hate it and i think it's a stupid waste of electricity, than again i stand for what i wrote. There is an upside to iceland, a financial one, probably the one that makes them sit still and do nothing about it besides complaining to the BBC: 

 

 

.

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5 hours ago, asus killer said:

i'm not defending crypto, i hate it and i think it's a stupid waste of electricity, than again i stand for what i wrote. There is an upside to iceland, a financial one, probably the one that makes them sit still and do nothing about it besides complaining to the BBC:

What I'm saying is that it's very possible they'll run into power shortages. How they handle it is up to them, but just because they gain money from it doesn't mean they can magically power more than their infrastructure can handle. I haven't said a word for or against crypto mining itself.

Don't ask to ask, just ask... please 🤨

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7 minutes ago, Sauron said:

What I'm saying is that it's very possible they'll run into power shortages. How they handle it is up to them, but just because they gain money from it doesn't mean they can magically power more than their infrastructure can handle. I haven's said a word for or against crypto mining itself.

 

i was just correcting the news report from the BBC, nothing more.

 

but then if you think about this what are they complaining about really. It's only natural that the countries with cheaper electricity be a target for cpryto farms. How can this be a surprise to anyone?? More than that if electricity is cheaper people are more likely to be wasteful there than say Germany, not just for crypto, for everything. Increase the prices and it all goes away. Capitalism and free market, globalisation and all that, this cannot be a surprise to a government.

.

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13 minutes ago, huilun02 said:

Then just outlaw large mining operations then. Take a hacksaw to their power line.

It's a projected problem not a current problem, though the operator in the article was saying he really only works with longer contracts for power (2-3 years) which makes bitcoin farmers nervous, I can't imagine why though xD. 

Grammar and spelling is not indicative of intelligence/knowledge.  Not having the same opinion does not always mean lack of understanding.  

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51 minutes ago, asus killer said:

cheap electricity, so it's to be expected. Increase prices and problem goes away.

 

then again saying there is nothing in it to Iceland is wrong. Electricity pays taxes and because almost all their electricity comes from renewable, they get more taxes at no cost.

I agree, except that a price increase would also screw over regular people that aren't mining cyrptocurrencies.

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Posted

Inb4 this thread start demonizing miners as if they steal electricity and never pay for it

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Posted

This is some real media bull shit! Just like the solar panels that they are making the sun to explode with 20milions times faster that it should be by it's nature...

What's next? Global warming couse by bitcoin?... 

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7 minutes ago, Blademaster91 said:

Inb4 miners start defending such a massive and dumb waste of electricity.

 

Oh wait... never mind.

 

Eh, maybe these fucking miners will be useful after all, if their stupid meme coin production strains coal power plants too much, maybe we'll see nuclear power as a standard sooner in many countries

 

Or (more probable) electricity will just become too damn expensive and I swear i'm gonna start breaking the legs of everyone who pronounces the word hashrate

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Posted

I wonder how much power heavy industry and commercial businesses use in Iceland.

 

Oh Wikipedia tells me about 70% of electricity in Iceland is used for aluminum smelting.

 

Yes.

 

Bitcoin miners are definitely the problem.

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1 hour ago, Yoinkerman said:

I wonder how much power heavy industry and commercial businesses use in Iceland.

 

Oh Wikipedia tells me about 70% of electricity in Iceland is used for aluminum smelting.

 

Yes.

 

Bitcoin miners are definitely the problem.

Well duh! They steal electricity, hijack production lines and kill workers inside them to steal the GPUs, then use the generated cash to hire assassin to take down any cop who attempts to investigate them. Also blackjack, hookers and drugs  

One day I will be able to play Monster Hunter Frontier in French/Italian/English on my PC, it's just a matter of time... 4 5 6 7 8 9 years later: It's finally coming!!!

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<>EVs are bad, they kill the planet and remove freedoms too some/<>

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2 hours ago, ElfFriend said:

I agree, except that a price increase would also screw over regular people that aren't mining cyrptocurrencies.

you can't have both ways. Either have cheap electricity and this will happen or increase prices and they will go way. 

One option would be to have difference prices for different thresholds of usage, but that will always be unfair to someone and cryptominers could go around it if they wanted to.

.

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1 hour ago, Yoinkerman said:

I wonder how much power heavy industry and commercial businesses use in Iceland.

Oh Wikipedia tells me about 70% of electricity in Iceland is used for aluminum smelting.

Yes.

Bitcoin miners are definitely the problem.

I don't think you read the article,it said crypto mining is using more power than all of its 340,000 population in home electricity use. Unlike the get rich quick scheme of bitcoins which mining farms create few jobs and don't even pay tax, aluminum smelting would be at least beneficial to economic stability.

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1 minute ago, Blademaster91 said:

I don't think you read the article,it said crypto mining is using more power than all of its 340,000 population in home electricity use. Unlike the get rich quick scheme of bitcoins which mining farms don't even pay tax, aluminum smelting would be at least beneficial to economic stability.

that's just not being fair, if they do not pay MORE taxes (they of course pay taxes) it's the government's fault not theirs. They shouldn't be blamed for that.

.

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4 hours ago, ElfFriend said:

I agree, except that a price increase would also screw over regular people that aren't mining cyrptocurrencies.

Up to 'X' amount of power, you pay one rate.  At 'Y' amount you pay a higher rate.  And maybe have another threshold at 'Z'.  It's a simplistic, but effective solution.

1 hour ago, asus killer said:

One option would be to have difference prices for different thresholds of usage, but that will always be unfair to someone and cryptominers could go around it if they wanted to.

Alternatively, just charge a higher rate for "data centers".

https://linustechtips.com/main/topic/449522-smoking-barrels-ltts-unnofficial-gun-club/

 

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Posted
6 hours ago, Hip said:

I bet this is again just fearmongering to blame BTC. Iceland can produce clean and cheap energy from its thermal sources without a problem.

They have wind, thermal, trash, and tidal. All making a ton of excess energy they sell to others so I don't really believe with a population the size of Iceland there are massive russian type farms sucking hundreds of megawatts of power

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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̌̅̒̾̈́̆͌̌̾̎̽̐̅̏́̈̔͛̀̋̃͊̒̓͗͒̑͒̃͂̌̄̇̑̇͛̆̾͛̒̇̍̒̓̀̈́̄̐͂̍͊͗̎̔͌͛̂̏̉̊̎͗͊͒̂̈̽̊́̔̊̃͑̈́̑̌̋̓̅̔́́͒̄̈́̈̂͐̈̅̈̓͌̓͊́̆͌̉͐̊̉͛̓̏̓̅̈́͂̉̒̇̉̆̀̍̄̇͆͛̏̉̑̃̓͂́͋̃̆̒͋̓͊̄́̓̕̕̕̚͘͘͘̚̕̚͘̕̕͜͜͝͝͝͠͝͝͝͝͠ͅS̷̢̨̧̢̡̨̢̨̢̨̧̧̨̧͚̱̪͇̱̮̪̮̦̝͖̜͙̘̪̘̟̱͇͎̻̪͚̩͍̠̹̮͚̦̝̤͖̙͔͚̙̺̩̥̻͈̺̦͕͈̹̳̖͓̜͚̜̭͉͇͖̟͔͕̹̯̬͍̱̫̮͓̙͇̗̙̼͚̪͇̦̗̜̼̠͈̩̠͉͉̘̱̯̪̟͕̘͖̝͇̼͕̳̻̜͖̜͇̣̠̹̬̗̝͓̖͚̺̫͛̉̅̐̕͘͜͜͜͜ͅͅͅ.̶̨̢̢̨̢̨̢̛̻͙̜̼̮̝̙̣̘̗̪̜̬̳̫̙̮̣̹̥̲̥͇͈̮̟͉̰̮̪̲̗̳̰̫̙͍̦̘̠̗̥̮̹̤̼̼̩͕͉͕͇͙̯̫̩̦̟̦̹͈͔̱̝͈̤͓̻̟̮̱͖̟̹̝͉̰͊̓̏̇͂̅̀̌͑̿͆̿̿͗̽̌̈́̉̂̀̒̊̿͆̃̄͑͆̃̇͒̀͐̍̅̃̍̈́̃̕͘͜͜͝͠͠z̴̢̢̡̧̢̢̧̢̨̡̨̛̛̛̛̛̛̛̛̲͚̠̜̮̠̜̞̤̺͈̘͍̻̫͖̣̥̗̙̳͓͙̫̫͖͍͇̬̲̳̭̘̮̤̬̖̼͎̬̯̼̮͔̭̠͎͓̼̖̟͈͓̦̩̦̳̙̮̗̮̩͙͓̮̰̜͎̺̞̝̪͎̯̜͈͇̪̙͎̩͖̭̟͎̲̩͔͓͈͌́̿͐̍̓͗͑̒̈́̎͂̋͂̀͂̑͂͊͆̍͛̄̃͌͗̌́̈̊́́̅͗̉͛͌͋̂̋̇̅̔̇͊͑͆̐̇͊͋̄̈́͆̍̋̏͑̓̈́̏̀͒̂̔̄̅̇̌̀̈́̿̽̋͐̾̆͆͆̈̌̿̈́̎͌̊̓̒͐̾̇̈́̍͛̅͌̽́̏͆̉́̉̓̅́͂͛̄̆͌̈́̇͐̒̿̾͌͊͗̀͑̃̊̓̈̈́̊͒̒̏̿́͑̄̑͋̀̽̀̔̀̎̄͑̌̔́̉̐͛̓̐̅́̒̎̈͆̀̍̾̀͂̄̈́̈́̈́̑̏̈́̐̽̐́̏̂̐̔̓̉̈́͂̕̚̕͘͘̚͘̚̕̚̚̚͘̕̕̕͜͜͝͠͠͝͝͝͝͠͝͝͝͠͝͝͝͝͝͝ͅͅͅī̸̧̧̧̡̨̨̢̨̛̛̘͓̼̰̰̮̗̰͚̙̥̣͍̦̺͈̣̻͇̱͔̰͈͓͖͈̻̲̫̪̲͈̜̲̬̖̻̰̦̰͙̤̘̝̦̟͈̭̱̮̠͍̖̲͉̫͔͖͔͈̻̖̝͎̖͕͔̣͈̤̗̱̀̅̃̈́͌̿̏͋̊̇̂̀̀̒̉̄̈́͋͌̽́̈́̓̑̈̀̍͗͜͜͠͠ͅp̴̢̢̧̨̡̡̨̢̨̢̢̢̨̡̛̛͕̩͕̟̫̝͈̖̟̣̲̖̭̙͇̟̗͖͎̹͇̘̰̗̝̹̤̺͉͎̙̝̟͙͚̦͚͖̜̫̰͖̼̤̥̤̹̖͉͚̺̥̮̮̫͖͍̼̰̭̤̲͔̩̯̣͖̻͇̞̳̬͉̣̖̥̣͓̤͔̪̙͎̰̬͚̣̭̞̬͎̼͉͓̮͙͕̗̦̞̥̮̘̻͎̭̼͚͎͈͇̥̗͖̫̮̤̦͙̭͎̝͖̣̰̱̩͎̩͎̘͇̟̠̱̬͈̗͍̦̘̱̰̤̱̘̫̫̮̥͕͉̥̜̯͖̖͍̮̼̲͓̤̮͈̤͓̭̝̟̲̲̳̟̠͉̙̻͕͙̞͔̖͈̱̞͓͔̬̮͎̙̭͎̩̟̖͚̆͐̅͆̿͐̄̓̀̇̂̊̃̂̄̊̀͐̍̌̅͌̆͊̆̓́̄́̃̆͗͊́̓̀͑͐̐̇͐̍́̓̈́̓̑̈̈́̽͂́̑͒͐͋̊͊̇̇̆̑̃̈́̎͛̎̓͊͛̐̾́̀͌̐̈́͛̃̂̈̿̽̇̋̍͒̍͗̈͘̚̚͘̚͘͘͜͜͜͜͜͜͠͠͝͝ͅͅͅ☻♥■∞{╚mYÄÜXτ╕○\╚Θº£¥ΘBM@Q05♠{{↨↨▬§¶‼↕◄►☼1♦  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Posted
17 hours ago, Energycore said:

I really feel like the impact on gamers is entirely unimportant when you compare it to the impact on you know, our chances to keep surviving in this planet xD

What are you talking about? Video games are way more important than the planet... /s

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Everything I say defaults to include /s

 

 

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1 hour ago, Blademaster91 said:

I don't think you read the article,it said crypto mining is using more power than all of its 340,000 population in home electricity use. Unlike the get rich quick scheme of bitcoins which mining farms create few jobs and don't even pay tax, aluminum smelting would be at least beneficial to economic stability.

So, single digit % of total power output?

 

Again.  Bitcoin mining is definitely the issue.

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6 hours ago, suicidalfranco said:

Inb4 this thread start demonizing miners as if they steal electricity and never pay for it

No, we demonize them for jacking up prices... 9_9 The sooner countries start outlawing these fake currency's the better.

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Posted

First they came for the coal miners, and I did nothing for I am not a coal miner.

Then they came for the oil/shale miners, and I did nothing for I am not an oil/shale miner (and there is no oil/shale in my back yard).

Then they came for the crypto miners...

 

/s

 

 

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