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“After devouring nearly as much energy as all of Iceland’s households combined, Bitcoin miners may be about to return something to the community that’s housed t
by masonicb00m 8y ago
“After devouring nearly as much energy as all of Iceland’s households combined, Bitcoin miners may be about to return something to the community that’s housed them.” Implication is that the miners do nothing for Iceland? Seems unlikely. They’re probably incorporated businesses paying taxes and injecting wealth into local economy through payroll and other expenses. Why is Bloomberg anti-bitcoin?
- allenz 8y agoProfitability is not the same as social value. See also media critiques of high-frequency trading.
- chris_mc 8y ago>Why is Bloomberg anti-bitcoin? Maybe this? https://qz.com/84961/this-is-how-much-a-bloomberg-terminal-costs/ https://qz.com/84961/this-is-how-much-a-bloomberg-terminal-c...
- mihaifm 8y agoThey're probably not against bitcoin, crytocurrency is a controversial topic these days and they just leverage on that.
- s73v3r_ 8y ago"They’re probably incorporated businesses paying taxes and injecting wealth into local economy through payroll and other expenses." What evidence do you have of this? In other areas where this happens, like up by the hydroelectric dam in Washington State, this very much does not happen, and in fact, many mining operations are illegally attaching to the grid. https://www.politico.com/magazine/story/2018/03/09/bitcoin-mining-energy-prices-smalltown-feature-217230 https://www.politico.com/magazine/story/2018/03/09/bitcoin-m...