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It's sad that this gets downvoted because you're not wrong eg [1][2][3]. [1]: https://www.newscientist.com/article/2284222-coal-powered-bitcoin-mining-soars-in

by cletus 5y ago

It's sad that this gets downvoted because you're not wrong eg [1][2][3]. [1]: https://www.newscientist.com/article/2284222-coal-powered-bitcoin-mining-soars-in-kazakhstan-following-chinese-ban/ https://www.newscientist.com/article/2284222-coal-powered-bi... [2]: https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/ https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... [3]: https://arstechnica.com/tech-policy/2021/09/old-coal-plant-is-now-mining-bitcoin-for-a-utility-company/ https://arstechnica.com/tech-policy/2021/09/old-coal-plant-i...

latchkey 5y ago
China has banned mining. Update cause I'm getting down voted: the point is that the quoted articles are talking about China and are therefore outdated. I'm not referring to what is happening today with regards to the movement of mining. _Some_ miners moved to Kazakhstan, but the truth is, they went global.
- LurkingPenguin 5y ago
  Did you read any of the articles? China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages.
  - latchkey 5y ago
    Apparently you didn't fully read the article. The shortages aren't the miners, it is the fact that 3 plants shut down... "On October 15, the national grid operator, KEGOC, announced electricity rationing after three major coal-fired power plants shut down. KEGOC did not directly blame miners, but it used language similar to the energy minister’s and said it was cutting off customers who “over-consume.”"
    - LurkingPenguin 5y ago
      > KEGOC did not directly blame miners, but it used language similar to the energy minister’s and said it was cutting off customers who “over-consume.” And: > "We have seen that our [country's] electricity consumption has literally increased by 7 percent in one year. That's a very big increase," Energy Minister Magzum Mirzagaliyev said on September 30, noting that consumption usually grows by about 2 percent per annum. > Mirzagaliyev linked the demand to mining and proposed the government limit supplies of electricity to 1 MW per mining farm and to 100 MW for the whole sector. Where's the mystery here? Again, hopefully for the last time: China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages.
      - latchkey 5y ago
        > China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages. We wouldn't be reading about power shortages at all if 3 major power plants didn't go offline.
        malermeister 5y ago
        We also wouldn't be reading about them if crypto people didnt increase power draw by 7%.

by cletus 5y ago

latchkey 5y ago

China has banned mining. Update cause I'm getting down voted: the point is that the quoted articles are talking about China and are therefore outdated. I'm not referring to what is happening today with regards to the movement of mining. _Some_ miners moved to Kazakhstan, but the truth is, they went global.

LurkingPenguin 5y ago
Did you read any of the articles? China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages.
- latchkey 5y ago
  Apparently you didn't fully read the article. The shortages aren't the miners, it is the fact that 3 plants shut down... "On October 15, the national grid operator, KEGOC, announced electricity rationing after three major coal-fired power plants shut down. KEGOC did not directly blame miners, but it used language similar to the energy minister’s and said it was cutting off customers who “over-consume.”"
  - LurkingPenguin 5y ago
    > KEGOC did not directly blame miners, but it used language similar to the energy minister’s and said it was cutting off customers who “over-consume.” And: > "We have seen that our [country's] electricity consumption has literally increased by 7 percent in one year. That's a very big increase," Energy Minister Magzum Mirzagaliyev said on September 30, noting that consumption usually grows by about 2 percent per annum. > Mirzagaliyev linked the demand to mining and proposed the government limit supplies of electricity to 1 MW per mining farm and to 100 MW for the whole sector. Where's the mystery here? Again, hopefully for the last time: China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages.
    - latchkey 5y ago
      > China banned mining. Chinese miners moved to Kazakhstan. Now Kazakhstan is having power shortages. We wouldn't be reading about power shortages at all if 3 major power plants didn't go offline.
      - malermeister 5y ago
        We also wouldn't be reading about them if crypto people didnt increase power draw by 7%.