Sure miners in Texas will turn off the equipment today?

Pekelo

Pekelo

Because, you know, they promised when the load is too much, they would help out, the governor said so.


https://www.reddit.com/r/path%3D%252Fr%252Fnews%252Fcomments%252Fvw9zwx%252F

This was the plan:

https://news.bloomberglaw.com/secur...s-bitcoin-mining-to-fortify-the-electric-grid

https://www.dallasobserver.com/news...-fear-it-could-strain-the-power-grid-13383386

This is what happened:

TEXAS GOVERNOR BEGS CRYPTO MINERS TO SHUT DOWN IF THE POWER GRID IS ABOUT TO FAIL
"HELP ME GET THROUGH THE WINTER."

https://futurism.com/the-byte/texas-governor-bitcoin-miners
 
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newwurldmn said:
They should develop the technology from the matrix for all those unwanted babies that will be born there.
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Using the human body to produce / store energy is extremely inefficient. The plot of the matrix would never work.
 
Well, the function was meant to work in the way that the local spot price of electricity would increase so much that they would turn of the miners due to it being economically unattractive to have them running.

I guess they will turn em off if mining comes at a loss, don't you think?
 
bln said:
Well, the function was meant to work in the way that the local spot price of electricity would increase so much that they would turn of the miners due to it being economically unattractive to have them running.

I guess they will turn em off if mining comes at a loss, don't you think?
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Not necessary. There are all kind of other costs involved with mining, energy being one of them. Let's say you lose 3K on every coin mined, but if you turn off the machines, you won't have any new coins and you obviously think price will go up eventually, so instead of letting them collect dust until price improves, you chug along and mine with a loss hoping for the best. You only turn off the machines when you run out of cash and old coins to sell.
 
They could be growing food for the starving, instead of burning 10 trillion watts , jerking out the con


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JackMorgan said:
They could be growing food for the starving, instead of burning 10 trillion watts , jerking out the con


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Such a huge waste of energy. Yeah, gold mining also consumes energy (not as much as bitcoin mining currently), but gold would still hold its value in a world without electricity just as it did in the past. Bitcoin will require energy consumption in the future just to use it.
 
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