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How many of those directly convert electricity into profit? How many of those businesses have been rent seeking countries/states/locations that subsidize elect
by tw04 6y ago
How many of those directly convert electricity into profit?
How many of those businesses have been rent seeking countries/states/locations that subsidize electricity for their populations?
Electricity is one of those things most of society has deemed an essential good, and as such has subsidized it for the poorest among us. Bitcoin farmers are abusing that system to turn the government subsidies into personal profit for a handful.
Let's not even begin to equate THAT to someone going to a concert put on for the benefit of and at the cost to those participating.
- ric2b 6y ago> Electricity is one of those things most of society has deemed an essential good, and as such has subsidized it for the poorest among us. Sounds like an argument for giving subsidies to the poor instead of anyone using electricity.
- ha4fsd3fas 6y agoWell it's like any other business that runs on electricity. AWS converts electricity directly into profit. They provide a service for paying customers, just like a miner does. I'm sure many datacenters are located in places where electricity is cheap, hell I bet some datacenters get it even cheaper with lobbying.
- tw04 6y agoCan you list an example of AWS building a datacenter, in secret, in a location with subsidized power? I GUARANTEE YOU Amazon lets the local municipality know when they're building a new datacenter and they aren't getting subsidized rates.