Parasites

[SunTrader]

Kinda like sending beaten down horses to the glue factory. Now you're thinking.

 

[DaveV]

Plattsburgh, NY.

Population 19,780

And all of them are on subsidized power, not just crypto-miners, which means others are paying for them to have lower rates.

Probably not. In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh). So the power company is still probably making a profit selling Plattsburgh residents power at 4 cents per KWH.

 

[SunTrader]

Probably not. In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh). So the power company is still probably making a profit selling Plattsburgh residents power at 4 cents per KWH.

ZH says:

"The hydropower costs 4.92 cents per megawatt hour, compared with 37 cents for alternative power."

But this was also mentioned in the linked newspaper article that somehow ZH missed (cough, cough):

"The culprit was not only cryptocurrency mining operations but a long stretch of severely cold weather."

 

[SoesWasBetter]

Scam getting its butt kicked. HODL

 

[SunTrader]

Seem like you need more bran.

 

[lovethetrade]

They're all in on the lies and deception eh. The onslaught has been relentless in suppressing this market.

Bitcoin is worthless, bubble about to burst, warns global insurer
https://www.smh.com.au/business/inv...rst-warns-global-insurer-20180315-p4z4ez.html

They'll be all in on the technology when the time is right for them no doubt.

So.... EVERYBODY in NY has to pay $30-$40/mo higher utility bill so that a few can mine cryptos for profit at subsidized energy costs?

America. What a country!

The utility achieved for the global economy is greater than the cost of mining. Do your research and while youre at it, do everyone a favour and disclose who you work for.

 

[S2007S]

Wont these miners stop mining once the cost of these fairytale coins cost less than the cost to mine each one.....they are setting up huge Warehouses paying thousands a month in electricity to mine..once Bitcoin drops in value the cost to mine will outweigh the value of each bitcoin....the cost to mine doesn't drop based on the value of each magically delicious coin!!!

 

[SunTrader]

You're assuming Bitcoin will continue dropping.

Just like many assumed Bitcoin would continue rising when it hit $19300.

 

[S2007S]

Probably not. In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh). So the power company is still probably making a profit selling Plattsburgh residents power at 4 cents per KWH.

You mean 0.0085?

 

[DaveV]

You mean 0.0085?

Nope. I meant 0.85 cents:
Facts About Hydropower - Wisconsin Valley Improvement Company
www.wvic.com/Content/Facts_About_Hydropower.cfm
Modern hydro turbines can convert as much as 90% of the available energy into electricity. The best fossil fuel plants are only about 50% efficient. In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh).