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(BBC)   Yee haw meets ni hao: Chinese bitcoin miners are flocking to Texas   (bbc.co.uk) divider line
    More: Interesting, Texas, United States, U.S. state, China, Hong Kong, second largest bitcoin mining network, Governor of Texas Greg Abbott, small town  
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671 clicks; posted to Business » on 04 Sep 2021 at 10:05 AM (13 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-09-04 7:59:21 AM  
Texas is one good storm away from a complete grid collapse. This should help push it over the edge.
 
2021-09-04 10:10:09 AM  
Fark user imageView Full Size

Knee haw?
 
2021-09-04 10:10:52 AM  

Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.


That isn't how the grid works.
 
2021-09-04 10:19:56 AM  

Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.


Thats exactly how the grid works in Texas. It's not interconnected, not properly weatherized and poorly managed. It came within minutes of collapse during a winter storm. To top it all off, several of their black start generators failed.

Texas barely has the ability to meet It's own load demands now. Adding energy sinks like this won't help them.
 
2021-09-04 10:32:55 AM  
"Texans take their freedom and rights very seriously, and so do we bitcoiners."

The freedom to treat women as second class citizens.

Good luck with your power grid, you're going to need it.
 
2021-09-04 10:44:15 AM  
They'll love the misogyny and the killin' of the minorities. Fit right in!
 
2021-09-04 11:15:07 AM  

gameshowhost: They'll love the misogyny and the killin' of the minorities. Fit right in!


Well on the bright side, it'll be harder to snitch on women getting abortions if you can't access the snitching website cause the power's out.
 
2021-09-04 11:18:31 AM  
For Mr Pan, Texas felt like home almost instantly. Days after his arrival, he was gifted an AR-15 rifle, which he says he may use to "hunt hogs from a helicopter" one day.

Yee Ha

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2021-09-04 11:27:50 AM  
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2021-09-04 11:29:06 AM  
Great. Chinese tourists breeding with Texans.

Exactly what anyone who has ever worked in tourism doesn't want.
 
2021-09-04 11:36:04 AM  
https://www.npr.org/podcasts/10048409​2​0/the-disconnect-power-politics-and-th​e-texas-blackout

Listen to some of this, it will explain how Texas nearly lost its power grid.
 
2021-09-04 11:37:10 AM  

Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.


Or how bitcoin energy usage works.
 
2021-09-04 11:46:14 AM  

DogParkSniper: Great. Chinese tourists breeding with Texans.

Exactly what anyone who has ever worked in tourism doesn't want.


Morons spitting while shoving their way to the front of the crowded waterin' hole?


Too late.
 
2021-09-04 11:58:50 AM  
With the electric price spikes, they may actually break even.
 
2021-09-04 12:05:39 PM  

mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.


Oh, please enlighten us....
 
2021-09-04 12:08:13 PM  
You're all just jealous of how RICH I am.
 
2021-09-04 12:21:12 PM  
Lol, I can only imagine a Greg Abbott endorsement further proves how much of a scam crypto is.
 
2021-09-04 12:22:27 PM  

scanman61: mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.

Oh, please enlighten us....


Well, in theory the Bitcoin miners would be hooked into some sort of realtime-pricing feed so that they could shut down as soon as electricity prices started to go up due to increasing demand. In theory they would bias it so that they were off most of the time and only spun it up during periods of peak generation from wind/solar plants when the price was near-zero or even negative. Thus "helping" to stabilize the grid.

Figuring out closely their real-world actions will match that theoretical ideal is left as an exercise for the student.
 
2021-09-04 12:43:58 PM  

Ivo Shandor: scanman61: mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.

Oh, please enlighten us....

Well, in theory the Bitcoin miners would be hooked into some sort of realtime-pricing feed so that they could shut down as soon as electricity prices started to go up due to increasing demand. In theory they would bias it so that they were off most of the time and only spun it up during periods of peak generation from wind/solar plants when the price was near-zero or even negative. Thus "helping" to stabilize the grid.

Figuring out closely their real-world actions will match that theoretical ideal is left as an exercise for the student.


Unfortunately, they would still have to pay their fixed costs, so they need to operate continuously.
 
DVD
2021-09-04 1:19:03 PM  
Why, oh why, isn't there a mechanism for me to like a particular Fark thread headline, at least as a non-Total-Farker?

I'd plus 1 this one.
 
2021-09-04 1:29:09 PM  

Ivo Shandor: scanman61: mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.

Oh, please enlighten us....

Well, in theory the Bitcoin miners would be hooked into some sort of realtime-pricing feed so that they could shut down as soon as electricity prices started to go up due to increasing demand. In theory they would bias it so that they were off most of the time and only spun it up during periods of peak generation from wind/solar plants when the price was near-zero or even negative. Thus "helping" to stabilize the grid.

Figuring out closely their real-world actions will match that theoretical ideal is left as an exercise for the student.


Yep. Miners go where energy is cheap.  In a free market, like Texas' deregulated energy system, that also means some times of day energy is very low cost.

Some folks can't seem to grasp that.
 
2021-09-04 2:03:22 PM  

Flying Vermin: Ivo Shandor: scanman61: mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.

Oh, please enlighten us....

Well, in theory the Bitcoin miners would be hooked into some sort of realtime-pricing feed so that they could shut down as soon as electricity prices started to go up due to increasing demand. In theory they would bias it so that they were off most of the time and only spun it up during periods of peak generation from wind/solar plants when the price was near-zero or even negative. Thus "helping" to stabilize the grid.

Figuring out closely their real-world actions will match that theoretical ideal is left as an exercise for the student.

Yep. Miners go where energy is cheap.  In a free market, like Texas' deregulated energy system, that also means some times of day energy is very low cost.

Some folks can't seem to grasp that.


That's not very true. Electricity is cheapest in Texas December thru March.

Night time used to be the least expensive, but that is also when solar is offline.
 
2021-09-04 2:10:29 PM  

DVD: Why, oh why, isn't there a mechanism for me to like a particular Fark thread headline, at least as a non-Total-Farker?

I'd plus 1 this one.


You can vote on headlines of the year, but that doesn't start until later this year (November or so).
 
2021-09-04 2:11:11 PM  
China's gift to the west.
 
2021-09-04 3:01:40 PM  

HempHead: Flying Vermin: Ivo Shandor: scanman61: mr0x: Earl of Chives: Joe USer: Texas is one good storm away from a complete grid collapse. This should help push it over the edge.

That isn't how the grid works.

Or how bitcoin energy usage works.

Oh, please enlighten us....

Well, in theory the Bitcoin miners would be hooked into some sort of realtime-pricing feed so that they could shut down as soon as electricity prices started to go up due to increasing demand. In theory they would bias it so that they were off most of the time and only spun it up during periods of peak generation from wind/solar plants when the price was near-zero or even negative. Thus "helping" to stabilize the grid.

Figuring out closely their real-world actions will match that theoretical ideal is left as an exercise for the student.

Yep. Miners go where energy is cheap.  In a free market, like Texas' deregulated energy system, that also means some times of day energy is very low cost.

Some folks can't seem to grasp that.

That's not very true. Electricity is cheapest in Texas December thru March.

Night time used to be the least expensive, but that is also when solar is offline.


Like last Feb...what was the price of electricity in Texas then? Ah yes $9000 per megawatt hour.

How stable, much reliable.
 
2021-09-04 3:43:14 PM  
Every so often, yet another entrepreneur learns why it's usually a bad idea to try to operate within the scope of influence of a commie government.
 
2021-09-04 4:09:49 PM  
Not really surprising.

Developed nations often outsource to thrid world hell holes because of cheap labor, lack of regulations, and their compliant, corrupt governments.
 
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