Bitcoin mining company buys power plant to meet electricity needs

This shit is beyond retarded now.

  1. 1 year ago
    Anonymous

    [...]

    • 1 year ago
      Anonymous

      >implying crypto is a legitimate trade

      • 1 year ago
        Anonymous

        unfortunately crypto is all LULZ is these days. i wish they would make a crypto containment board and have LULZ be an actual board for, you know, real business and finance stuff

        • 1 year ago
          Anonymous

          biz was created as the crypto containment board you silly newfag

        • 1 year ago
          Anonymous

          fuck off newfag. LULZ was created during the 2013 bull run specifically as a crypto containment board because BTC threads were clogging up LULZ

        • 1 year ago
          Anonymous

          the butt holes of women to snort cocaine off of along with a jaguar

        • 1 year ago
          Anonymous

          how new?

        • 1 year ago
          Anonymous

          >Thinking of starting a business
          >Go to LULZ to discuss business plans
          >It's all shitcoin pumping threads
          >My business plan thread gets 0 replies.
          >Later my IP is rangebanned for begging
          I wish we had a proper business board like /bis/ for non-crypto posts, oh well

      • 1 year ago
        Windows in a nutshell

        [...]

        AGW is a death cult

        save the planet kill yourself

        • 1 year ago
          Anonymous

          what is "the planet"

          • 1 year ago
            Anonymous

            [...]
            AGW is a death cult

            save the planet kill yourself

            >what is "the planet"
            LOL ekos are so stupid that they do not understand that the planet is only rocks bound by gravity not some living magic gaya shit.

            >save the planet
            Invalid statement.

            >AGW
            Does not exist.

            >kill yourself
            Yes exactly like the elite overlords planed make up bullshit eco propaganda so the plebs want to kill themselves.

            • 1 year ago
              Anonymous

              >only rocks bound by gravity not some living magic gaya shit.
              incredibly cringe fedora tier reductionist fallacy

      • 1 year ago
        Anonymous

        >implying there's any technology in it

  2. 1 year ago
    Anonymous

    >cost adjustment is absurdly high
    >bro let's just sell a power plant to a bitcoin miner instead of providing better service to people

    • 1 year ago
      Anonymous

      Based cryptochads dabbing on nocoiners

      And? Go live in some third world communist shit hole if you don't like it

      • 1 year ago
        Anonymous

        well i don't want to because power in those countries is unreliable.

      • 1 year ago
        Anonymous

        >EHHH CRYPTO CUMS CRYPTO CUMS, I LUV CRYPTO CUMS WHY NOT EVERYONE LIKE CRYPTO CUMS? EVERYONE COMMIE.

    • 1 year ago
      Anonymous

      How exactly do you think this electric plant would benefit people if it wasn't sold?
      People pay for the energy. If it was for sale, apparently the demand wasn't high enough to cover operational costs and keep it running. In this case it's better to adapt it for another use.

  3. 1 year ago
    Anonymous

    >now

  4. 1 year ago
    Anonymous

    >mfw
    just how much money do they make these days?

    • 1 year ago
      Anonymous

      You can make a small fortune with crypto if you start out with a big fortune

    • 1 year ago
      Anonymous

      They buy GPUs in pallets, so they're getting a lotta money from somewhere.

      • 1 year ago
        Anonymous

        shhh

  5. 1 year ago
    Anonymous

    The bitterness on LULZ about missing out on the modern day gold rush is hilarious. I'm retired at 31 and will never have to work another day in my life, all thanks to my "fake" money.

    Enjoy the grind.

    • 1 year ago
      Anonymous

      I'm glad for you anon, but please don't brag too much qwq

      • 1 year ago
        Anonymous

        Ochako is irrelevant and useless

        Irrelevant and useless!

    • 1 year ago
      Anonymous

      But it's actually stupid. There's no real value in crypto. How is burning earth resources to get some numbers is a good thing?

      • 1 year ago
        Anonymous

        you'll stay poor thanks to your retarded moralfag decisions

        • 1 year ago
          Anonymous

          I'm not poor. I have a roof and I can afford food and water. What else do you need?

          • 1 year ago
            Anonymous

            Freedom of time

      • 1 year ago
        Anonymous

        There’s no real value in the US dollar either you fucking tard. Industrial society was a mistake

        • 1 year ago
          Anonymous

          checked

        • 1 year ago
          Anonymous

          checked

      • 1 year ago
        Anonymous

        How do you think dollars are made?

        • 1 year ago
          Anonymous

          Fiat backed by a real economy and a lot of guns.

          • 1 year ago
            Anonymous

            I've asked you how they are made, not what backed it.

            • 1 year ago
              Anonymous

              They are just printed without wasting massive amounts of energy for nothing

              • 1 year ago
                Anonymous

                To be fair paper money is an inherently useless piece of paper that takes a lot of resources and and energy to produce (not nearly as much as bitcoin though) in a way that is difficult to reproduce by criminals.

              • 1 year ago
                Anonymous

                you could argue it is useless paper/cotton and such used, but it's really not much when compared to the value the note holds

              • 1 year ago
                Anonymous

                And yet they hold value.
                The value doesn't come from the printing or doing cryptographic puzzles, it comes from the fact that people are willing to pay for it.

              • 1 year ago
                Anonymous

                There's a cost associated with cryptocurrency on computing costs to secure and encrypt the transactions. The problem is that value of most cryptocurrencies are complete decoupled from this. They need a massive correction to fix this if you want to taken seriously as an actual currency not a vehicle for money laundering and speculative trading

      • 1 year ago
        Anonymous

        money is just an idea, that's why your 100 dollar bill is worth 100 instead of the worth of the paper (1$)

      • 1 year ago
        Anonymous

        There’s no value in fucking anything aside from what we as humans place on it you retard. We could all agree to bottlecaps being currency and the petrodollars would be just as fucked.

        >muh environment

        Crypto provides a direct incentive to go green. Talk to your israeli government to why they didn’t switch to renewables 20 years ago

        • 1 year ago
          Anonymous

          >Crypto provides a direct incentive to go green.
          Oh, that must be why the miners in the OP bought an old, clapped-out, coal-fired power plant.

      • 1 year ago
        Anonymous

        >There's no real value in crypto
        Imagine being this dumb. Commie tard

        • 1 year ago
          Anonymous

          there isn't a "real value" in the proof of work. It is just useless work done as a proof

    • 1 year ago
      Anonymous

      nobody believes you though because the amount of people that put more than even 2% of their portfolio into crypto is VERY very low. im guessing you watched some youtube videos with some influencers saying shit is BLOWING UP!! but in reality those influencers barely put any of their money into crypto and instead make their money from fooling retards like you
      i dont know why people insist on larping over crypto but whatever i guess

    • 1 year ago
      Anonymous

      Did you sell your fake money for real money?

    • 1 year ago
      Anonymous

      I am salty considering I sold most of the ~80BTC I mined a decade ago back when they were worth like $15 instead of holding onto them and being a multi-millionaire.

      That said Bitcoin is horribly inefficient compared to other payment processors and currencies. And most of the hype surrounding it is speculative investment, not actually using it for what it's intended.

    • 1 year ago
      Anonymous

      It wasn't a gold rush you idiot. It is a massive con game. The vast majority never hit it big. They took some kind of lost or barely broke even. The only winners were the whales who manipulated the market with pumping and dumping with little or no legal oversight.

    • 1 year ago
      Anonymous

      Why are people taking this bait? Jesus christ guys, I swear everyone is getting more gullible by the day.

    • 1 year ago
      Anonymous

      LULZ hates everything. i used to disregard crypto as well but then i did my research and it's actually not that bad. well, most projects are indeed scams but i really don't understand how shit like monero is not popular with LULZtards. maybe it is but they don't talk about it.

    • 1 year ago
      Anonymous

      Remember when LULZ usually slid off every post about bitcoin before bitcoin even blew up. Those were the days, and now you know that whatever LULZ says you should never do it. Poor people make worse choices by default, so what you do is just the opposite of what poor/ngmi people do.

    • 1 year ago
      Anonymous

      Have you sold all your cripto?
      How much money you had before and after?

  6. 1 year ago
    Anonymous

    bitcoin = planet rape
    if there were governments it'd be banned

    • 1 year ago
      Anonymous

      It's banned in China, no need to thank me

      • 1 year ago
        Anonymous

        China banning crypto had virtually no impact on the price.

        • 1 year ago
          Anonymous

          Good so all risk is pushed onto foreign bag holders, all that needs to happen now is Tether getting blown up or something f

      • 1 year ago
        Anonymous

        That's only so all the operations will be run from north Korea

    • 1 year ago
      Anonymous

      Thanks i'll mine bitcoin now.

  7. 1 year ago
    Anonymous

    Who's driving this demand? Who unironically buys this shit? Is it boomers?

    • 1 year ago
      Anonymous

      Bitcoin and crypto in general is a way to wash money, since it has no regulation in the way the stock market does.

  8. 1 year ago
    Anonymous

    How can a pyramid scheme go this far without anybody saying anything? Fucking incredible.

  9. 1 year ago
    Anonymous

    Yet somehow fiat makes sense. Capitalism is a fucking joke.

    • 1 year ago
      Anonymous

      >Capitalism is a fucking joke.
      As are all the alternatives.

  10. 1 year ago
    Anonymous

    If people are actually buying power plants for it, then there's no need to ask why you can't buy a 3080

    • 1 year ago
      Anonymous

      never mind the GPUs, time to start worrying about when there won't be any electricity to buy.

      i hear californians are already enjoying this state of affairs.

  11. 1 year ago
    Anonymous

    It's funny seeing all these retards who thought fiat was worth anything crying over bitcoin lmao.

    • 1 year ago
      Anonymous

      fiat currency and crypto currency are equally worthless, what's your point.

      • 1 year ago
        Anonymous

        That's exactly my point

      • 1 year ago
        Anonymous

        crypto is not worthless, the idea and the programming behind it have good values
        fiat on the other hand.... is just pieces of paper.

      • 1 year ago
        Anonymous

        neither is gold.

        • 1 year ago
          Anonymous

          Gold had value in the past because it does not corrode. Gold has value in the present because it is a critically rare component in aerospace and electronics.

          • 1 year ago
            Anonymous

            the demand and price of gold is in no meaningful way correlated to its industrial use.

            • 1 year ago
              Anonymous

              >the demand and price of gold is
              correlated to its resistance to corrosion, which is why it's more valuable than silver.

              • 1 year ago
                Anonymous

                i guess that would make potassium or magnesium the cheapest metal?

  12. 1 year ago
    Anonymous

    [...]

  13. 1 year ago
    Anonymous

    money has no actual value; it is a bubble that never comes down
    bitcoin is...

    • 1 year ago
      Anonymous

      >money has no actual value

      Precious metals have value.

      • 1 year ago
        Anonymous

        but are worthless for long-distance trade, and are difficult to use in daily short-distance trade as well.

        papers representing ownership of precious minerals have proven remarkably unreliable. gold always gives its tenders sticky fingers.

        • 1 year ago
          Anonymous

          >worthless for long-distance trade
          I can perform transactions across 1000 yards of distance.
          >daily short-distance trade
          Short distance trades of 30 to 60 at a time are extremely common.

          • 1 year ago
            Anonymous

            lead is not a precious metal. are you larping as the lone ranger?

            • 1 year ago
              Anonymous

              How is lead not a precious metal?

              • 1 year ago
                Anonymous

                sounds like you've already had plenty of lead exposure

            • 1 year ago
              Anonymous

              >lead is not a precious metal. are you larping as the lone ranger?
              I don't know anon have you looked at the price of ammo lately?

      • 1 year ago
        Anonymous

        value exists in the minds of people
        not out in the world

  14. 1 year ago
    Anonymous

    The idea of money is to facilitate the trade of resources for other resources, not to turn finite resources into the exchange medium itself lmao. Crypto """"""""currency""""""" gets everything ass-backwards.

  15. 1 year ago
    Anonymous

    bitcoin is the worst fucking crypto, fuck normalfags for latching onto it

  16. 1 year ago
    Anonymous

    The only worth crypto is monero of which bitcoin tried to become but failed to do so.

  17. 1 year ago
    Anonymous

    This thread is filled with people that do not understand blockchain technology. What happened to LULZ that LULZ is the more technically competent board?

    • 1 year ago
      Anonymous

      sorry bro but we're still 10+ years away from making blockchains actually useful for the general public, because this crypto obsession will go on and on until the entire world can no longer provide enough electricity for it.

    • 1 year ago
      Anonymous

      The problem isn't blockchain technology in itself. The problem is that cryptocurrencies are being used a vehicle for speculative trading and money laundering with little to no legal oversight by certain parties. Retards are following for "get rich quick" hype without understanding the game and are being played as cattle/collateral.

  18. 1 year ago
    Anonymous

    It is just a ponzi scheme fueled by economically illiterate fools who are transferring their wealth to whales who manipulate the market at a whim.
    Greater fool theory and sunken cost fallacy are simply too strong for players to give up. The only winning move is not to play.

  19. 1 year ago
    Anonymous

    How do you feel about the power and resource usage of large banks, governments, militaries, the automobile industry, electronics fabricators, and law enforcement organizations, OP?

  20. 1 year ago
    Anonymous

    I wonder how far it will go. We haven't had a recession in a while I wonder if that will kill bitcoin. Who knows how recessions will effect crypto. Or lots of shit. We have all these huge firms like google, amazon, etc that weren't even as nearly as big pre 2008.

  21. 1 year ago
    Anonymous

    and that problem was already solved now, look up the Avalanche Consensus and read up how it works.
    solves the mining problem, is decentralized and can actually scale. the only platform using this consensus protocol is named after this consensus method and currently trade at 70 bucks.
    fun thing is all the defi stuff on ethereum actually works on avalanche too, just with sub second finality, no frontrunning and extremely low fees.
    its also hardcapped like BTC and fees from transactions are burned.
    if you want to make it you buy this shit.
    but dont believe anything I said, do your own research.

  22. 1 year ago
    Anonymous

    It really is.
    Drugs should be legal and the taxes would fund everything
    Instead we are burning a limited resource for no reason at all

  23. 1 year ago
    Anonymous

    hbar and monero solve this

  24. 1 year ago
    Anonymous

    Post YFW you realize that GPU prices will never go down because people will never stop making proof of work shitcoins because there will never be a shortage of cupidous imbeciles who think they can get rich off mining by just buying GPUs and then doing absolutely nothing.

  25. 1 year ago
    Anonymous

    >Uses more power than a medium-sized country
    >How many unbanked are now banked
    >How many legitimate transactions are performed thru crypto
    >Mostly used as a speculative gambling tool

    If you became rich thru crypto good for you, but overall crypto has been a burden to mankind.

    • 1 year ago
      Anonymous

      How much power do you think it takes the petrodollar and it’s monolithic israeli monuments to stay as the global reserve currency.

      You kike

      • 1 year ago
        Anonymous

        Go leave please, you're foaming at the mouth

      • 1 year ago
        Anonymous

        Actually less than crypto at this point.
        And for far more transactions.

    • 1 year ago
      Anonymous

      Cryptocurriency isn't going to be banned. They underlying technology are simply going to be absorbed and be legitimatized. Anything outside of global market will get lockdown hard most of its value will evaporate as it can no longer be easily used as a means to laundry money and speculate.

  26. 1 year ago
    Anonymous

    Still overall less wasteful than traditional banking systems. So you lose a bit of electricity, fucking make more. These power plant chads get it.

    • 1 year ago
      Anonymous

      Wrong kiddo, Bitcoin and any of the big cryptocurrency consume far more energy than HFT and digital money exchanges. Their only lure is that there's no to little legal oversight making it a magnet for illicit activities.

      • 1 year ago
        Anonymous

        >energy
        That's not the only thing that matters, anon. Banks drain far more than just energy. Transaction fees are fucking insane, man. If we have to choke the air with black smog just to get the hands of the banks to loosen their grip on our necks, so be it.

        • 1 year ago
          Anonymous

          Yes but banks actually serve normal people instead of money launderers, drug dealers and dogecoin autists who believe they're toppling world governments.

        • 1 year ago
          Anonymous

          > Transaction fees
          Wow, you are delusional. If you think transaction fees for banks are bad. Crypto exchanges are much much worse with even less legal oversight. Besides, banks make the bulk of their revenue stream via HFT and loans/mortgages not transaction fees.

      • 1 year ago
        Anonymous

        >illicit activities
        I buy coke and rent women with cash all the time, what the fuck are you on about?

        • 1 year ago
          Anonymous

          Direct cash can be tracked you brainlet. Money laundry involves reallocating assets coming from illicit shit through intermediaries so it ends up appearing "legitimate" at face and difficult to backtrack its complete history.
          In a way, cryptocurrencies are an evolution of this which is why they are a massive magnet for money laundering.

          • 1 year ago
            Anonymous

            >Direct cash can be tracked you brainlet
            If it's so easy, explain why they've never done so to bust my ass.

            • 1 year ago
              Anonymous

              You are a little fry and not enough worth ratting out. Once you step on toe's of somebody big and influential. You'll change your tone fast.

  27. 1 year ago
    Anonymous

    You realize that article is more about how aging power plants are struggling against growing operational costs (fuels aren't getting cheaper) and emissions mandates (not cheap implement and maintain). They are desperate enough to use highly volatile and dubious revenue streams to keep solvent.

  28. 1 year ago
    Anonymous

    Literally factory that makes money

  29. 1 year ago
    Anonymous

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