Bitcoin mining company buys power plant to meet electricity needs

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    • #90371
      Anonymous
      Guest

      This shit is beyond retarded now.

    • #90372
      Anonymous
      Guest

      […]

      • #90373
        Anonymous
        Guest

        >implying crypto is a legitimate trade

        • #90385
          Anonymous
          Guest

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

          • #90389
            Anonymous
            Guest

            biz was created as the crypto containment board you silly newfag

          • #90416
            Anonymous
            Guest

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

          • #90430
            Anonymous
            Guest

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

          • #90451
            Anonymous
            Guest

            how new?

          • #90465
            Anonymous
            Guest

            >Thinking of starting a business
            >Go to /biz/ 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

        • #90388
          Windows in a nutshell
          Guest

          […]

          AGW is a death cult

          save the planet have a nice day

          • #90390
            Anonymous
            Guest

            what is "the planet"

            • #90452
              Anonymous
              Guest

              […]
              AGW is a death cult

              save the planet have a nice day

              >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.

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

              • #90456
                Anonymous
                Guest

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

        • #90471
          Anonymous
          Guest

          >implying there’s any technology in it

    • #90374
      Anonymous
      Guest

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

      • #90377
        Anonymous
        Guest

        Based cryptochads dabbing on nocoiners

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

        • #90429
          Anonymous
          Guest

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

        • #90450
          Anonymous
          Guest

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

      • #90378
        Anonymous
        Guest

        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.

    • #90375
      Anonymous
      Guest

      >now

    • #90376
      Anonymous
      Guest

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

      • #90402
        Anonymous
        Guest

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

      • #90440
        Anonymous
        Guest

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

        • #90445
          Anonymous
          Guest

          shhh

    • #90379
      Anonymous
      Guest

      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.

      • #90380
        Anonymous
        Guest

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

        • #90404
          Anonymous
          Guest

          Ochako is irrelevant and useless

          Irrelevant and useless!

      • #90381
        Anonymous
        Guest

        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?

        • #90382
          Anonymous
          Guest

          you’ll stay poor thanks to your retarded moralfag decisions

          • #90384
            Anonymous
            Guest

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

            • #90386
              Anonymous
              Guest

              Freedom of time

        • #90383
          Anonymous
          Guest

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

          • #90428
            Anonymous
            Guest

            checked

          • #90449
            Anonymous
            Guest

            checked

        • #90400
          Anonymous
          Guest

          How do you think dollars are made?

          • #90448
            Anonymous
            Guest

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

            • #90453
              Anonymous
              Guest

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

              • #90461
                Anonymous
                Guest

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

                • #90469
                  Anonymous
                  Guest

                  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.

                  • #90475
                    Anonymous
                    Guest

                    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

                • #90477
                  Anonymous
                  Guest

                  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.

                  • #90480
                    Anonymous
                    Guest

                    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

        • #90403
          Anonymous
          Guest

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

        • #90455
          Anonymous
          Guest

          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 gnomish government to why they didn’t switch to renewables 20 years ago

          • #90468
            Anonymous
            Guest

            >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.

        • #90459
          Anonymous
          Guest

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

          • #90460
            Anonymous
            Guest

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

      • #90387
        Anonymous
        Guest

        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

      • #90399
        Anonymous
        Guest

        Did you sell your fake money for real money?

      • #90427
        Anonymous
        Guest

        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.

      • #90435
        Anonymous
        Guest

        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.

      • #90437
        Anonymous
        Guest

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

      • #90439
        Anonymous
        Guest

        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.

      • #90444
        Anonymous
        Guest

        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.

      • #90481
        Anonymous
        Guest

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

    • #90391
      Anonymous
      Guest

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

      • #90392
        Anonymous
        Guest

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

        • #90393
          Anonymous
          Guest

          China banning crypto had virtually no impact on the price.

          • #90394
            Anonymous
            Guest

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

        • #90447
          Anonymous
          Guest

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

      • #90398
        Anonymous
        Guest

        Thanks i’ll mine bitcoin now.

    • #90395
      Anonymous
      Guest

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

      • #90401
        Anonymous
        Guest

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

    • #90396
      Anonymous
      Guest

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

    • #90397
      Anonymous
      Guest

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

      • #90466
        Anonymous
        Guest

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

    • #90405
      Anonymous
      Guest

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

      • #90410
        Anonymous
        Guest

        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.

    • #90406
      Anonymous
      Guest

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

      • #90409
        Anonymous
        Guest

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

        • #90412
          Anonymous
          Guest

          That’s exactly my point

        • #90414
          Anonymous
          Guest

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

        • #90419
          Anonymous
          Guest

          neither is gold.

          • #90421
            Anonymous
            Guest

            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.

            • #90422
              Anonymous
              Guest

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

              • #90425
                Anonymous
                Guest

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

                • #90426
                  Anonymous
                  Guest

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

    • #90407
      Anonymous
      Guest

      […]

    • #90408
      Anonymous
      Guest

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

      • #90411
        Anonymous
        Guest

        >money has no actual value

        Precious metals have value.

        • #90413
          Anonymous
          Guest

          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.

          • #90417
            Anonymous
            Guest

            >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.

            • #90418
              Anonymous
              Guest

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

              • #90420
                Anonymous
                Guest

                How is lead not a precious metal?

                • #90424
                  Anonymous
                  Guest

                  sounds like you’ve already had plenty of lead exposure

              • #90467
                Anonymous
                Guest

                >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?

        • #90415
          Anonymous
          Guest

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

    • #90423
      Anonymous
      Guest

      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.

    • #90431
      Anonymous
      Guest

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

    • #90432
      Anonymous
      Guest

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

    • #90433
      Anonymous
      Guest

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

      • #90436
        Anonymous
        Guest

        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.

      • #90438
        Anonymous
        Guest

        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.

    • #90434
      Anonymous
      Guest

      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.

    • #90441
      Anonymous
      Guest

      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?

    • #90442
      Anonymous
      Guest

      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.

    • #90443
      Anonymous
      Guest

      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.

    • #90446
      Anonymous
      Guest

      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

    • #90454
      Anonymous
      Guest

      hbar and monero solve this

    • #90457
      Anonymous
      Guest

      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.

    • #90462
      Anonymous
      Guest

      >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.

      • #90463
        Anonymous
        Guest

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

        You garden gnome

        • #90464
          Anonymous
          Guest

          Go back to /poo/ please, you’re foaming at the mouth

        • #90470
          Anonymous
          Guest

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

      • #90474
        Anonymous
        Guest

        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.

    • #90473
      Anonymous
      Guest

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

      • #90476
        Anonymous
        Guest

        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.

        • #90479
          Anonymous
          Guest

          >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.

          • #90482
            Anonymous
            Guest

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

          • #90485
            Anonymous
            Guest

            > 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.

        • #90484
          Anonymous
          Guest

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

          • #90488
            Anonymous
            Guest

            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.

            • #90490
              Anonymous
              Guest

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

              • #90492
                Anonymous
                Guest

                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.

    • #90478
      Anonymous
      Guest

      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.

    • #90483
      Anonymous
      Guest

      Literally factory that makes money

    • #90493
      Anonymous
      Guest

      This thread was moved to

      […]

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