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[TechSpot] China declares all cryptocurrency transactions illegal, Bitcoin price plummets

lynx29 said:
No one ever said it was, even in my original post I said the only way crypto will fall is if other first nations follow China's lead and ban the mining and all transactions from all crypto in name of carbon emissions. Apparently you didn't read post 1 though. /shrug

Spoiler: I also said that won't ever happen due to corruption in the western nations.
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Anyone who claims he knows exactly what's going to happen with crypto is lying.
 
lynx29 said:
arstechnica.com

Old coal plant is now mining bitcoin for a utility company

Bitcoin is breathing new life into another ailing power plant.
arstechnica.com arstechnica.com

What a lovely world we live in boys. :roll:

keyword here is: another power plant... keep up boys.
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Bitcoin is also sponsoring the USAs largest solar farm.

It's a mixed bag, like most indistries. This one just happens to be growing.

BTW, this is that same greenidge coal plant from earlier headlines. Not another one. I sense a trend of repeat headlines from the media.

Here is it's story in a nutshell. Tl:dr, bitcoin or not, the plant was staying open, they just are operating it in a more economically feasible full load:

Which is why an investor-owned utility has dropped a containerized data center outside a coal-fired power plant 10 miles north of St. Louis. Ameren, the utility, was struggling to keep the 1,099 MW power plant running profitably when wholesale electricity prices dropped. But it wasn’t well suited to running only when demand was high, so-called peaker duty. Instead, they’re experimenting with running it full-time and using the excess electricity to mine bitcoin.
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Either way, no, not "another" plant. Same plant. I believe the other project they are refering to is actually nuclear. Maybe the Montana Solar one. Dunno.

Bottom line.

Across the entire grid, cryptocurrency mining operations could “add a lot of value, particularly how fast they can move up and down, Joshua Rhodes, a research associate at the University of Texas at Austin, told E&E News. “It can have a positive emissions impact if it’s run the right way,” he said. “It can also increase emissions if it’s not.”
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Your article.
 
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Tigger said:
Would be America, land of the greedy
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I mean, I'm not really disputing that. If we weren't land of the greedy, it would be easy to build a larger solar farm than a friggin bitcoin project... but no. That might cost taxes.
 
China is the world's biggest polluter by a large margin, they open more coal fired power stations than the West closes in a year, does anyone really think this has ANYTHING to do with climate change? Ithink China cares as much about climate change as it does about the US growing stronger on the world stage? this is China setting out it's position on competing crypto-currencies since they have introduced their own CCP-backed digital currency, that is tied into their social credit system, why in the world would they want to have to compete with de-centralised, non government backed crypto when they can do what they have always done to their own people and control everything? the naivety in some comments like China care about the rest of the world is simply laughable
 
this is all pure hypocrisy.. some years back the west used to make its own stuff and create its own pollution.. then we exported our manufacturing industries and our pollution to china.. now we accuse them of not being green enough.. he he..

here in the UK they are talking about a winter of discontent.. power price increases and possible black outs.. in truth the push for green is turning into a f-cking disaster.. so was exporting our manufacturing industries to china..

china might well be the worlds biggest polluter but it also makes all the worlds stuff.. we cant have it both ways.. if we want the stuff we have to put up with what goes with it..

trog
 
trog100 said:
this is all pure hypocrisy.. some years back the west used to make its own stuff and create its own pollution.. then we exported our manufacturing industries and our pollution to china.. now we accuse them of not being green enough.. he he..

here in the UK they are talking about a winter of discontent.. power price increases and possible black outs.. in truth the push for green is turning into a f-cking disaster.. so was exporting our manufacturing industries to china..

trog
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doesn't matter. with the incoming mass famines and climate change displacing billions of people, probably within 5-10 years, currency in any form won't matter anymore very soon :) def within our lifetimes. enjoy it while you can. human hubris knows no bounds.
 
think about Lemmings lynx.. they breed too successfully every so often they run out of food and have to migrate to pastures new..

on the way they die in the millions.. what comes first i dont know.. enough of them dying or finding pastures new.. maybe it dosnt matter..

its all part of a natural cycle lynx.. stop worrying about things you have no control over.. live your life as best you can and be happy.. :)

my own thinking goes this way.. we have our own natural cycle and i dont think this is the first time around for us and i dont think it will be the last.. :)

trog
 
Thinking about the world in terms of individualism in this way inevitably leads to nihilism. I’m not saying it’s possible, given the conditions we live in, but the only solution to global catastrophe is organizing the plebes together, across national boundaries, against a multinational class that will survive this crisis with or without us. /boredom
 
claes said:
Thinking about the world in terms of individualism in this way inevitably leads to nihilism. I’m not saying it’s possible, given the conditions we live in, but the only solution to global catastrophe is organizing the plebes together, across national boundaries, against a multinational class that will survive this crisis with or without us. /boredom
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I don't think of it is as nihilism at all, in fact I find it all very beautiful, the cycles of life and species, and the infinite cosmos. Quite a lovely self-aware state, yet ironically, we still behave as animals. I find it more curious than nihilistic. Earth will be dust someday, another solar system will harbor life, maybe Elon Musk in his final moments will realize it is his duty to load up every rocket with various lifeforms and launch them to whatever planets James Webb Space Telescope finds are the golden zone... his Mars dream is a foolish one, but perhaps giving diverse life another chance on another planet is indeed the role of any species that is lucky enough to become self-aware... who knows such things.
 
Tigger said:
People who have exorbitant wealth that don't benefit the rest. Isn't this the western model? Football players getting payed a million a match, F1 drivers a million+ a race. Places like Beverley hills in America, or Chelsea in London, Greed is society's driving force.

Glad China have done this, looking forward to buying a cheap fucked, hammered mining card now yaaay
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You should see the sponsors of the America's cup sailing races. Its considered the most expensive races in the world.
 
lynx29 said:
we still behave as animals.
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Well we are, unless you've grown roots in recent years :laugh:

Despite civilization & all the advances humanity has conjured over the last few millennia, on law rules supreme ~ survival of the fittest!

So yeah call it greed or whatever we're all doomed anyway, just enjoy whatever time you have left on this earth & don't try to deliberately step on others to reach new heights ~ that's about the only thing I'd like to preach.
 
R0H1T said:
Well we are, unless you've grown roots in recent years :laugh:

Despite civilization & all the advances humanity has conjured over the last few millennia, on law rules supreme ~ survival of the fittest!

So yeah call it greed or whatever we're all doomed anyway, just enjoy whatever time you have left on this earth & don't try to deliberately step on others to reach new heights ~ that's about the only thing I'd like to preach.
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Anything you do is an indirect way of stepping on others though. Even something as simple as buying a smartphone to make business calls is stepping on others to get ahead, for the smartphone contains Coltan mineral, which requires slave labor, sometimes even child labor, as most of it is mined in the Congo about 80% of the worlds supply... so just depends on how you interpret step on.
 
Tigger said:
This don't matter, the worlds second biggest polluter just says screw the rest of you and keeps driving 8 litre cars.
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my truck is 14.8 liters engine
 
lynx29 said:
Anything you do is an indirect way of stepping on others though
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Yes & that's why I said deliberately stepping over others, I'm sure I do a lot of things that directly or indirectly affect many others mostly unknowingly though. On the other hand something like cryptocurrencies ~ they don't make sense to me (right now) & I know they're not exactly green & as yet I've not invested a penny in them. Part of the reason is that I don't like the volatility, then regulation & probably last on the list is energy consumption ~ now if it could be regulated well & be not a major drag on the electricity grid I'd probably be fine with them.

lynx29 said:
as most of it is mined in the Congo about 80% of the worlds supply... so just depends on how you interpret step on.
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Yes I remember that & I also remember the roadside tea vendors in my area ~ who employ child laborers, sometimes their own sons & daughters to make ends meet every day! It's not all cut & dry as we're made to believe, but it's also true that the current capitalistic/nihilistic system is untenable for the vast majority of us. Cryptocurrencies are in some sense the same manifestation of greed & the same BS accumulation of wealth at the top that I'm totally against.
 
R0H1T said:
Yes & that's why I said deliberately stepping over others, I'm sure I do a lot of things that directly or indirectly affect many others mostly unknowingly though. On the other hand something like cryptocurrencies ~ they don't make sense to me (right now) & I know they're not exactly green & as yet I've not invested a penny in them. Part of the reason is that I don't like the volatility, then regulation & probably last on the list is energy consumption ~ now if it could be regulated well & be not a major drag on the electricity grid I'd probably be fine with them.


Yes I remember that & I also remember the roadside tea vendors in my area ~ who employ child laborers, sometimes their own sons & daughters to make ends meet every day! It's not all cut & dry as we're made to believe, but it's also true that the current capitalistic/nihilistic system is untenable for the vast majority of us. Cryptocurrencies are in some sense the same manifestation of greed & the same BS accumulation of wealth at the top that I'm totally against.
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Not sure I would equate roadside tea vendors to working in coltan mines under men with AK 47's, but yeah, other than that you make sense to me. lol

Khonjel said:
Lol. Everybody in this forum who I've interacted with can attest that I'm one of the biggest China-hater in the forums. But even I will admit that it’s just fancy talk to keep the population in control rather than the magnanimous goal of fighting climate change. Otherwise I don’t give a rat's arse about chinese and miners and specifically chinese miners either way. So carry on being tough guy on your citizens, CCP.
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I actually disagree with you here, even rich people living in China have to deal with wearing a mask (even before covid) because of horrible pollution in the air, based on a simple line of logic, one can come to the conclusion that eventually living in those kinds of conditions one would eventually get ******* tired of it, and try to regulate energy consumption better. I think China does genuinely care about climate change, because they have always played the long term game from a strategic stand point, they know it won't be much longer and America will crumble under its 30+ trillion debt. They will be the sole superpower, it's only a matter of time really. While American students keep debating pronouns and gender identity, their students are becoming engineers/scientists in mass. While American stock brokers only focus on short term greed, China plays feint cards and is calculating the long term. The list goes on and on.

I do agree though, I wouldn't want to live in China personally. It doesn't change the fact they will be the sole superpower someday, especially when the debt we owe them comes up short and we can't pay it. I believe right now we are only paying China are interest rates we owe them, we are not even paying down the principle balance... I read somewhere that in 4 years we will owe China a big lump sum payment on one of those loans, and who knows where we will get the money for that... considering social security is about to collapse, and Congress keeps spending money like there is no tomorrow.
 
lexluthermiester said:
That is very reasonable and civilized advice.
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It is. I think the sadness though for me is quite simple really, as I have said many times over the years, "we are capable of so much, yet so little". To be self-aware, and to squander it, in the infinite cosmos, the rarest of chances...
 
lynx29 said:
It is. I think the sadness though for me is quite simple really, as I have said many times over the years, "we are capable of so much, yet so little". To be self-aware, and to squander it, in the infinite cosmos, the rarest of chances...
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Shame the top 10% of humans are the ones that don't give a fuck, and do the most damage.
 
Tigger said:
Shame the top 10% of humans are the ones that don't give a fuck, and do the most damage.
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Perhaps the species that comes after us, when they study us, they will discover that inflated ego's led to an imbalanced power. When the ego lessens, greater awareness occurs. Hmm. An interesting math problem to be had someday!

Now that being said... it is important to make sure people know that being smart = does not equate to being rich. For example, Bezo's found a loophole very early on that allowed him to sell to other states tax free, as long as the item did not ship from that same state. That loophole has since been fixed, but I can't help but think that loophole played a huge huge part in Amazon taking over physical stores due to the initial undercutting of prices by such a large amount across the board, but who knows such things.

Now it is time!!! For me to play more Magic the Gathering, farewell threads of the infinite void!
 
lynx29 said:
I don't think of it is as nihilism at all, in fact I find it all very beautiful, the cycles of life and species, and the infinite cosmos. Quite a lovely self-aware state, yet ironically, we still behave as animals. I find it more curious than nihilistic. Earth will be dust someday, another solar system will harbor life, maybe Elon Musk in his final moments will realize it is his duty to load up every rocket with various lifeforms and launch them to whatever planets James Webb Space Telescope finds are the golden zone... his Mars dream is a foolish one, but perhaps giving diverse life another chance on another planet is indeed the role of any species that is lucky enough to become self-aware... who knows such things.
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Problem with this is someone will send a breeding pair of goats, who will eat everything slowly evolve into homosapiens and screw that planet up because everyone knows goats are arseholes.
 
Even a broken clock shows the right time twice a day, in this case that's China. I'm quite pleased with their ending of cryptocrap. :)

A Waylon Jennings song "Wrong" is appropriate for this theme - "when the future looks too bright, can't be anything but right, wrong!" :cool:
 
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