A bill in New York aims to halt bitcoin mining for 3 years until its environmental impact can be assessed

[neurosis]

How long until this catches on across the blue States?  

There have already been red flags in Washington State due to bitcoin mining warehouses popping up in Central Washington to take advantage of cheaper property and lower energy costs.  

Volative Bitcoin prices put Central Washington electrical utilities on alert

https://www.wenatcheeworld.com/news/local/volative-bitcoin-prices-put-central-washington-electrical-utilities-on-alert/article_6a5f2c70-543f-11eb-ac31-23139877c26c.html">https://www.wenatcheeworld.com/news/loc ... 7c26c.html">https://www.wenatcheeworld.com/news/local/volative-bitcoin-prices-put-central-washington-electrical-utilities-on-alert/article_6a5f2c70-543f-11eb-ac31-23139877c26c.html


https://markets.businessinsider.com/currencies/news/new-york-ny-bill-bitcoin-mining-environment-assessment-2021-5-1030386497">https://markets.businessinsider.com/cur ... 1030386497">https://markets.businessinsider.com/currencies/news/new-york-ny-bill-bitcoin-mining-environment-assessment-2021-5-1030386497

A bill introduced in the New York State Senate is seeking to halt bitcoin mining for three years until the state has assessed its impact on the environment.

New York Senate Bill 6486 was presented by Senator Kevin Parker to the State Senate's Environmental Conservation Committee on Monday, The Block first reported.

The bill will specifically look into the greenhouse gas emissions caused by bitcoin mining, including its effects on water, air, and wildlife. The assessment will produce a report, which will then be issued to the public and will be subject to a 120-day public comment period.

"Cryptocurrency mining centers are an expanding industry in the State of New York, often, but not exclusively, located in retired or converted fossil fuel power stations, including dormant peaker plants," the bill said.

[marshal]

so can we put a ban on electric vehicle charging until its environmental impacts can be assessed as well?

[pmartin]

What I heard is that Bitcoin mining is currently consuming 2% of electric production.

[Dan_AKA_ROY23]

Bullish!

[Shazam/TPP]

what in the hell is a Bullish! ??    

[YoDoug]

I heard that AOC and Biden want to make sure all the mining workers no longer have to work in the deep dark mines and they want to retrain them to work on computers and emerging tech, like digital currency....

[TylerBeer]

Bitcoin is horrendously inefficient and continues to be more-so

[Tim Johnson]

Bitcoin is horrendously inefficient and continues to be more-so

Bitcoin is good for the poker rooms that use them. You can bring your money in and take it out on the same day.

[CNCAppsJames]

No to mention bitcoin mining is sucking up all the high end desktop video cards.

[TylerBeer]

[quote="Tim Johnson" post_id=10749 time=1620248343 user_id=68]

Bitcoin is horrendously inefficient and continues to be more-so

Bitcoin is good for the poker rooms that use them. You can bring your money in and take it out on the same day.
[/quote]

so we waste an insane amoutn of energy for.. online poker?

[Tim Johnson]

[quote="Tim Johnson" post_id=10749 time=1620248343 user_id=68]

Bitcoin is horrendously inefficient and continues to be more-so

Bitcoin is good for the poker rooms that use them. You can bring your money in and take it out on the same day.

so we waste an insane amoutn of energy for.. online poker?
[/quote]

It depends on how much "insane" is. We're talking New York. Maybe some political person wants to shake the miners down for their piece of the pie.

[Jim at Gentex]

No to mention bitcoin mining is sucking up all the high end desktop video cards.

I think that trend is changing.
More serious bitcoin miners are now using antminers and other specialty rigs because they are far more efficient.
The days of mining bitcoin with desktop computers and game systems are generally over.

As to the power usage question, freedom dictates that as long as I pay my electric bill and I am not doing anything unlawful, it's nobody's f'kin business what I do with that electricity that I am paying for.  

[Tim Johnson]

No to mention bitcoin mining is sucking up all the high end desktop video cards.

For the people who know, if video card RAM is so much faster than computer ram why can't it replace computer RAM and have the same speed at a much higher volume?

[mkd]

Interesting NY is doing this.
 My old stomping ground near the border town of Massena, NY had a recent coin mining operation move in. Really a perfect business plan with the cheap hydro power from the St. Lawrence river.
 GM, Reynolds aluminum pulled out decades ago. Cheap power wasn't enough to offset commie thug labor union pay. Alcoa is hanging by a tax subsidy thread.

[mkd]

Bitcoin is horrendously inefficient and continues to be more-so

^^FUD cubed^^^ (Fear Uncertainty and Doubt)
Perhaps much more efficient compared to combined draw (electrical and skimming profits) of
JPM
BAC
COF
WFC
GS
NYSE
NASDAQ
etc
etc
etc
etc
etc