Bitcoin is destroying the environment + energy grid to make scammers rich

We don't really need anything other than fiat if we could responsibly reduce our debt. The more I learn about bitcoin, the more I see it's just the latest fugazy pushed by people who got in early and are now destroying the power grid and environment for their selfish power play. What the scammers have done is convinced the state and citizens to support it all while marketing itself as not being tied to the state. As one man said, "An issue of socialize the problems but privatize the gain".

Trump has doubled his net worth in a short span



Why should I suffer so a bunch of bitcoin creepo's can get fabulously wealthy? I never voted for that.

We went to a small Texas town where one Bitcoin mining facility uses as much power as the entire city of Austin. Everyone is town is affected by the constant noise from the crypto facility, even the animals. One resident told us: "Every person here is sick."

 

Some of us are capable of making money by providing services and value. College funds for my kids almost topped up and I'm not even 45.

AI will have uses in most aspects of society. You can debate if it's all needed or not, as many humans will not be able to find work, but it serves a purpose. They will have their own independent power centers eventually.

BTC on the other hand needs to have an environmental tax and energy tax. They can't continue to drain resources free of charge. The people in these rural towns should at the very least receive money for their homes instead of watch their value go to $0.

The issue is the profits are privatized, but the problems are things everyone has to deal with (most of whom don't have bitcon). It's crazy because liberals prove time and time again they don't care about any kind of social or altruistic cause as long as it benefits their pockets (without having to actually work) like Sam Bankman Fried.

 

The humans and animals near the area have clean water and aren't affected by the constant hum of machines.

That one corporate owned facility falls behind but there are thousands of others that continue printing fake money as is.

 

With AI, they will always push it as a means for efficiency and eliminating repetitive tasks, but it's really to eliminate humans en masse. The whole end game is to minimize cap spend and maximize efficiency so tough to argue against it. All we can say is have regulations and safeguards as these companies harvest each and every bit of citizen data and make decisions based on that. At some point humans will have to force themselves to deal with other humans.

With Bitcoin, it's just a big fat made up turd. Tax the "bitcoin farmers" aggressively for bottlenecking the grid , particularily during crises, and tax those who realize their bitcoin gains. It's gotten away with murder for way too long. I've already spoken to my local representative about it and it's gathering momentum but there's obviously a ton of money from the BTC backers.

 

That's not what's happening here. They bottleneck and accumulate power out the entire power grid, exhausting resources, and then price gouge when they deem fit (at a time of natural emergency most likely). If 1 farm consumes as much power as the entire city of Austin, why don't they create their own power supply? All power generating equipment has a depreciative value, regardless of source. The environment and citizens have a depreciative value. Bitcoin gets away with it because it's a new , albeit completely unnecessary, technology.

How much do we subsidize cryptocurrency mining’s electricity use?

Large-scale Bitcoin mining operations have become a significant energy consumer in Texas, impacting both the grid's stability and potentially the energy costs for residents. For instance, a facility operated by Riot Platforms in Rockdale, Texas, is reported to use the same amount of electricity as the nearest 300,000 homes.

• In addition, large crypto miners in Texas also make millions of dollars selling energy back to the grid. Crypto mines take advantage of extreme weather, by selling power it purchased for pennies back to the grid at inflated prices.

Bitcoin mining has already raised electricity costs for Texans. A BloombergNEF report found that energy prices in Texas will soar for consumers if Bitcoin mining continues its rapid expansion. Models show peak energy prices increasing by 30% in one scenario in which the amount of crypto mining peak load roughly triples, and increasing by around 80% in a scenario in which the amount of crypto mining peak load increases around sixfold. The report states, “ERCOT power prices will be a function of new Bitcoin mining facilities.”