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Current Events > Texas paid Bitcoin miner $31 million to shut down during heatwave

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Intro2Logic
09/07/23 6:50:59 AM
#1:


https://www.cnbc.com/2023/09/06/texas-paid-bitcoin-miner-riot-31point7-million-to-shut-down-in-august.html?__source=sharebar|twitter&par=sharebar

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R1masher
09/07/23 7:10:28 AM
#2:


Id have done it for 30 mil

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VGAddict90
09/07/23 7:12:09 AM
#3:


Remind me again why we're not investigating ERCOT?
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pegusus123456
09/07/23 7:14:09 AM
#4:


So instead of mining bitcoin for its own sake, they've veered into holding the power grid hostage?

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Anony1125
09/07/23 7:38:08 AM
#5:


pegusus123456 posted...
So instead of mining bitcoin for its own sake, they've veered into holding the power grid hostage?
isn't that specifically why Texas wanted to bring crypto miners into the state? buying up all the potentially wasted electricity while also introducing some flexibility into the system by being able to immediately suspend operations when necessary?

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Intro2Logic
09/07/23 12:46:48 PM
#6:


Bump

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ProfessorKukui
09/07/23 12:58:26 PM
#7:


tax payers money well spent

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Gritty
09/07/23 12:59:55 PM
#8:


Anony1125 posted...
isn't that specifically why Texas wanted to bring crypto miners into the state? buying up all the potentially wasted electricity while also introducing some flexibility into the system by being able to immediately suspend operations when necessary?

if they were connected to the national grid, they couldve sold that surplus power, instead of being at the mercy of their own stupidity and arrogance. And fucking Bitcoin minersjfc
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WingsOfGood
09/07/23 1:00:39 PM
#9:


Should pay regular citizens to turn up the air instead of begging
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noisetank
09/07/23 1:00:56 PM
#10:


lmao texas

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Questionmarktarius
09/07/23 1:02:51 PM
#11:


VGAddict90 posted...
Remind me again why we're not investigating ERCOT?
Interstate commerce clause.
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Full_Pokedex
09/07/23 1:03:52 PM
#12:


Bitcoin is a scam, use real money like a normal person.

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Mew
09/07/23 1:09:01 PM
#13:


noisetank posted...
lmao texas


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MedeaLysistrata
09/07/23 1:13:21 PM
#14:


Full_Pokedex posted...
Bitcoin is a scam, use real money like a normal person.
what's the scam?

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https://gamefaqs.gamespot.com/boards/1568-100-presidents
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Unknown5uspect
09/07/23 1:14:49 PM
#15:


This is the dumbass state I unfortunately live in

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rynobot
09/07/23 1:15:03 PM
#16:


What is a NFT

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mario2000
09/07/23 1:19:03 PM
#17:


MedeaLysistrata posted...
what's the scam?

yeah if people wanna pay real money for fake bullshit then that's just the free market at work

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Shadow_Don
09/07/23 1:20:09 PM
#18:


Great precedent to set fucking moron republicans

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Anony1125
09/07/23 1:22:05 PM
#19:


Gritty posted...
if they were connected to the national grid, they couldve sold that surplus power, instead of being at the mercy of their own stupidity and arrogance. And fucking Bitcoin minersjfc
isn't creating innovative solutions for problems that needn't exist kind of a crypto thing?

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streamofthesky
09/07/23 1:24:55 PM
#20:


So, they'll charge families in Texas massive amounts per kilowatt hour during these emergencies, but for a corporation they instead give them taxpayer money to shut down?
Of fucking course. If Riot had to pay the prices regular people do during these storms, they'd shut down anyway. But Republicans are gonna Republican.

Crypto mining gobbling up electricity when we have a climate and energy crisis is such a fucking sick joke, humanity is just spiraling the drain.
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AceMos
09/07/23 1:32:15 PM
#21:


words can not express how much i hate the techbros who pushed this crypto crap

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ellis123
09/07/23 1:51:42 PM
#22:


MedeaLysistrata posted...
what's the scam?
It isn't a currency yet it is sold to people as such. Similarly it uses large numbers of obfuscation ("smart contracts", as an example) to dodge from the reality that none of what it claims is actually useful in the same way that a gacha game uses layers of currency to cause "fatigue" in the mentality of its base.

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darkace77450
09/07/23 3:06:35 PM
#23:


Texas has made itself an ally to the bitcoin mining industry through credits, but the financial incentives hit a snag in early 2023. A bill to cut off the mining industry from those credits SB 1751 passed the Texas State Senate in April, but ultimately stalled out in a House committee.

Instead, state lawmakers passed two mining-friendly bills expanding incentives and cutting red tape for the industry. Those went into effect on Sept. 1.

Republican A: Guys, this policy is fucking stupid, even by our standards. Let's end this shit before it things worse.

Republican B: Or - and hear me out - we double down and give them even more of what they want?
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Vermander
09/07/23 3:08:33 PM
#24:


Texas will be its own second world country soon and Im probably stuck here.

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RchHomieQuanChi
09/07/23 3:09:10 PM
#25:


Classic Texas incompetence.

Instead of using money to fix the fucking grid, they use it to get some rich assholes to stop overloading it.

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Tyranthraxus
09/07/23 4:29:06 PM
#26:


So basically what I'm hearing is open up a mining farm in Texas because even if it's not profitable they will pay you to shut it down

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DrizztLink
09/07/23 4:31:37 PM
#27:


Vermander posted...
Texas will be its own second world country soon and Im probably stuck here.
That would mean Texas is going to become an ally of the USSR.

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flussence
09/07/23 4:32:43 PM
#28:


Most spineless state government

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Tyranthraxus
09/07/23 4:32:47 PM
#29:


DrizztLink posted...
That would mean Texas is going to become an ally of the USSR.

Yep that's what he said and I concur

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Squall28
09/07/23 4:34:26 PM
#30:


streamofthesky posted...


Crypto mining gobbling up electricity when we have a climate and energy crisis is such a f***ing sick joke, humanity is just spiraling the drain.


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MedeaLysistrata
09/08/23 12:00:58 AM
#31:


this is real

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updated 5/22/2023
https://gamefaqs.gamespot.com/boards/1568-100-presidents
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SuperShake666
09/08/23 12:04:21 AM
#32:


DrizztLink posted...
That would mean Texas is going to become an ally of the USSR.
https://gamefaqs.gamespot.com/a/user_image/8/6/4/AABd5gAAECRI.jpg

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LordFarquad1312
09/08/23 12:05:02 AM
#33:


Joke state.

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Kradek
09/08/23 12:23:30 AM
#34:


Guess that sterling plan of his to "expect the bitcoin miners to do the right thing and not destroy the energy grid out of greed" turned out to be as successful as we all imagined it to be.

Fuck does Greg Abbott have shit for brains.

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