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Plattsburgh, N.Y to take legislative against crypto mining.

MoistyMcMoistface
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city has been overwhelmed with how much power the digital currency mining operations have consumed

The city of Plattsburgh, was an attractive city to miners due to historically low electricity prices 

 

City Mayor has nothing against mining but says large mining  operations in his city are straining the power supply, 

 

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 there's only a couple large operations... they're already using 20 per cent of the city's power supply.

Mayor wants to change the way the city handles zoning laws to fix the problem, until then he is proposing legislation to halt more of the mineroos from setting up shop

 

 

http://www.cbc.ca/radio/asithappens/as-it-happens-wednesday-edition-1.4565951/after-bitcoin-mines-trigger-energy-price-spikes-mayor-calls-for-ban-1.4568450

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that's insane
instead of saving energy and resources, these miners give a shit about their environment and just waste energy for an illusion. If everything would come out of renewable energy, that wouldn't be much of a problem, but I bet that most of the juice comes out of coal and other, non-regenerative resources

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Replace "miners" with any other industry in this issue and you have a response that is common sense.

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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1 hour ago, 19_blackie_73 said:

that's insane
instead of saving energy and resources, these miners give a shit about their environment and just waste energy for an illusion. If everything would come out of renewable energy, that wouldn't be much of a problem, but I bet that most of the juice comes out of coal and other, non-regenerative resources

oof.

 

It's definitely not an illusion, and it's not a waste either -- they're securing the bitcoin network.

However, bitcoin is built in a way that will use tons of power. other coins, like NANO, have their entire network using only a few watts, and have instant/feeless transactions.

IMO 1st gen cryptos will get phased out slowly.

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Sounds like to me the city needs to invest in a better power grid. While I dont care for mining myself, we all know the US power grid needs a lot of work. I mean, in the summer we have rolling blackouts due to power needs. Whats going to happen this summer with all the mining going on? The fact is more and more things need power, we need a better infrastructure for the future. 

I just want to sit back and watch the world burn. 

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4 hours ago, RadiatingLight said:

oof.

 

It's definitely not an illusion, and it's not a waste either -- they're securing the bitcoin network.

However, bitcoin is built in a way that will use tons of power. other coins, like NANO, have their entire network using only a few watts, and have instant/feeless transactions.

IMO 1st gen cryptos will get phased out slowly.

Using an large amount of resources to accomplish something very small is a waste no matter how you look at it. 

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5 minutes ago, Brooksie359 said:

Using an large amount of resources to accomplish something very small is a waste no matter how you look at it. 

Yeah but the fact is, this is proof we need a better power grid. Because what happens in the hot ass summer when every one has their air on? 

I just want to sit back and watch the world burn. 

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25 minutes ago, Donut417 said:

Yeah but the fact is, this is proof we need a better power grid. Because what happens in the hot ass summer when every one has their air on? 

People delt with hot ass summers for years. If this is just now because of cryptomining using more power than the past to this extent, it's not the AC units that's the problem. 

 

 

 

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8 minutes ago, Mooshi said:

People delt with hot ass summers for years. If this is just now because of cryptomining using more power than the past to this extent, it's not the AC units that's the problem. 

 

More and more shit requires power. What about if every one had to charge an electric car? In all it still puts strain on the power grid. The fact is, Mining is here to stay, the government is regulating it now, so they aint going to kill it, too much tax money in it. The mayor of some piss ant town, cant tell people how to use power. So, you only have one solution...... Build a better power grid. 

I just want to sit back and watch the world burn. 

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9 hours ago, 19_blackie_73 said:

that's insane
instead of saving energy and resources, these miners give a shit about their environment and just waste energy for an illusion. If everything would come out of renewable energy, that wouldn't be much of a problem, but I bet that most of the juice comes out of coal and other, non-regenerative resources

A lot of the electricity they use comes from Québec. It's 26% of Québec's electricity exports.

7 hours ago, RadiatingLight said:

have their entire network using only a few watts, and have instant/feeless transactions.

You cant have security and speed and no fees you have to select 2. Anything trying to tell you they can is selling you snakeoil.

There are however much better alternatives to the current PoW coins. I personally like this gridcoin which is currently voting on a whitepaper proposal

because it secures the network using PoS and PoW is used to help scientific research and it works now, unlike some tokens that may work eventually.

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9 hours ago, RadiatingLight said:

It's definitely not an illusion, and it's not a waste either

There is literally nothing backing it so it is an illusion and a waste...

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11 minutes ago, jagdtigger said:

There is literally nothing backing it so it is an illusion and a waste...

is pure supply and demand, same way that the diamonds are so expensive

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16 minutes ago, jagdtigger said:

There is literally nothing backing it so it is an illusion and a waste...

Just like most government currencies then.

Most used to be backed by gold, but the value of gold was also arbitrary at the time.

 

Like the USD (and others), crypto has value because people think it has value.

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2 hours ago, jagdtigger said:

There is literally nothing backing it so it is an illusion and a waste...

There's literally nothing backing 98% of our money. It's numbers that banks put in a computer system.

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5 hours ago, cj09beira said:

invest into nuclear (molten salt reactors being the best i know)

You should look up Thorium reactors. We have 1000 years of the fuel and it does not product weapons grade material. On top of the fact it will produce a lot less radiation. I even believe it cant get hot enough to really melt, which makes things a bit safer. 

I just want to sit back and watch the world burn. 

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14 minutes ago, Donut417 said:

You should look up Thorium reactors. We have 1000 years of the fuel and it does not product weapons grade material. On top of the fact it will produce a lot less radiation. I even believe it cant get hot enough to really melt, which makes things a bit safer. 

molten salt reactors are the shit, they use the salt as a carrier for the nuclear fuel (which is thorium or uranium), they are self regulating meaning they wont overheat, they plug wholes if there is a leak, and they use low pressure steam meaning in the event of a leak not much is going to happen, its great only problem is lack of funding which might improve very soon with china investing heavily into it 

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11 hours ago, RagnarokDel said:

You cant have security and speed and no fees you have to select 2. Anything trying to tell you they can is selling you snakeoil.

There are however much better alternatives to the current PoW coins. I personally like this gridcoin which is currently voting on a whitepaper proposal

because it secures the network using PoS and PoW is used to help scientific research and it works now, unlike some tokens that may work eventually.

Nope. Even stuff like Bitcoin's lightning network is fast and secure.

Nano (formerly XRB/RaiBlocks) uses a block-lattice instead of a blockchain, so it can accept thousands of transactions simultaneously (thousands of transactions per second are possible), and it's secured by DPOS (Delegated Proof-Of-Stake) so no mining.

I'm convinced that it has almost no flaws.

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9 hours ago, cj09beira said:

is pure supply and demand, same way that the diamonds are so expensive

Except that diamonds are a tangible, physical commodity.  CC is nothing but numbers in a computer.

9 hours ago, Terryv said:

Like the USD (and others), crypto has value because people think it has value.

7 hours ago, RagnarokDel said:

There's literally nothing backing 98% of our money. It's numbers that banks put in a computer system.

Governmental currencies are backed by the economy of the nation that supplies them.  While not as good as having a physical commodity (such as gold) to back it up, at least there's something real to sustain it.  CC has absolutely nothing physical behind it.

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I think comparing Cyrpto currencies to goverment backed currencies is wrong. Id compare them to Stocks. While a stock in a company gives you a part ownership in the said company, your basically giving the company money in hopes the stock price increases. Crypto currency is the same thing. Your investing money, or time and energy to mine the coin. In the hopes the price goes up. Which is why they should be treated like stocks and other investments of that type. 

I just want to sit back and watch the world burn. 

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10 hours ago, cj09beira said:

is pure supply and demand, same way that the diamonds are so expensive

Diamonds are a physical commodity that in many cases (lasers) can't be replaced with alternatives.  Where as Crypto has no alternative use and it's value hinges solely on what people give it.

6 minutes ago, Donut417 said:

I think comparing Cyrpto currencies to goverment backed currencies is wrong. Id compare them to Stocks. While a stock in a company gives you a part ownership in the said company, your basically giving the company money in hopes the stock price increases. Crypto currency is the same thing. Your investing money, or time and energy to mine the coin. In the hopes the price goes up. Which is why they should be treated like stocks and other investments of that type. 

The financial world already does treat it as a stock or foreign currency.   It's really only those who don't understand economics who think it is a legitimate currency that can stand alone from fiat currencies while being used the same way.     

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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the mayor seems reasonable and if there is a problem he was elected to fix it. Seems simple enough. 

 

i may have got something wrong, but the title about a "ban" does not actually relate to the content of the news, i didn't read there the mayor wants to ban mining. Click bait?

.

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21 hours ago, DoctorWho1975 said:

A huge amount of money is not an illusion.

Remember to quote people when you respond to them :P

8 minutes ago, mr moose said:

The financial world already does treat it as a stock or foreign currency.   It's really only those who don't understand economics who think it is a legitimate currency that can stand alone from fiat currencies while being used the same way.     

Yes. Cryptos in their current state do not work as currency. There's no way you can sustain the prospect of everyone making their payments with bitcoin, litecoin or what have you. Maybe one day, but not before 2-3 years at least.

 

1 hour ago, RadiatingLight said:

Nope. Even stuff like Bitcoin's lightning network is fast and secure.

Nano (formerly XRB/RaiBlocks) uses a block-lattice instead of a blockchain, so it can accept thousands of transactions simultaneously (thousands of transactions per second are possible), and it's secured by DPOS (Delegated Proof-Of-Stake) so no mining.

I'm convinced that it has almost no flaws.

How do I not know this about NANO, holy shit. Seems pretty amazing.

 

Non-minable cryptos are the future, I have spoken.

21 hours ago, mr moose said:

Replace "miners" with any other industry in this issue and you have a response that is common sense.

Say the textile industry consumed 20%+ of a town's power. You wouldn't be concerned, because at the same time, this industry is creating jobs for the town and attracting startups. Mining doesn't create jobs, one person can manage millions of dollars worth of mining hardware.

 

We have a problem that's only going to get worse - too many people, too few jobs. Eventually one of the two numbers are gonna have to budge. Sentiment about wanting to have children is already going bad in a lot of first world countries.

 

I think I went off on a tangent though.

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14 minutes ago, Energycore said:

Say the textile industry consumed 20%+ of a town's power. You wouldn't be concerned, because at the same time, this industry is creating jobs for the town and attracting startups. Mining doesn't create jobs, one person can manage millions of dollars worth of mining hardware.

 

 

Yes, if they can't/don't want to increase power production (which is very difficult because the only two viable options to power industry are nuclear or coal which no one wants) then you have to limit consumption.   Where I live the government has been asking big industry to wind back production on hot days because we don't have enough supply to meet demand.

 

 

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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