“In October 2021, Governor Greg Abbott hosted the lobbying group Texas Blockchain Council at the governor’s mansion. The group insisted that their industry would help the state’s overtaxed energy grid; that during energy crises, miners would be one of the few energy customers able to shut off upon request, provided that they were paid in exchange.”
Incredible. Driving up energy needs to make their fake currency will help the state’s energy grid, because we can then hold the grid hostage until we’re paid.
Why would they pay them, just use the power of the free market and raise the price of electricity (or even just for industrial users like bitcoin miners) when supply is low until they bow out because it’s not profitable and demands matches supply. Weird how the free market is only good when it’s not free, but dominated by monopolists.
They should be required to shut down some of the machines to get under noise ordinance.
This. Why haven’t they shut it all down for 24 hours to see if that helps people?
The obvious answer is greed.
But think of all the benefits this bitcoin mine brings for society, like, er, …
That said, without proper studies it’s questionable whether the mine is causing the illnesses.
Putting aside the crypto aspect, this is a simple story of a lack of zoning and government regulation. I am sure it sucks for those who live near these places but, the problem is why they were allowed to be built near residential areas at all. There will always be noisy or polluting industry but sensible planning puts these sorts of places away from where they will most harm people and disrupt their lives. And forces them to minimize the amount of noise and pollution they produce to start with.
This is just one example of so many for why we should want to put up with govt regulation. Trust me I know how annoying it can be but we’re doomed without it. Now that the Supreme Court has defanged our institutions i.e. the Chevron deference, you can expect a lot more of these sorts of problems and with less ability to fight it.
There is a procedure in place for granting permits to industry like this in every state. In New York, for example, when a potential site is selected, the business must apply for the permit to build and goes through a process of reviewing environmental and human harms in the area based on their operations. They are also required to notify residents and hold public participation events to ensure residents can ask questions about the development. “Good neighbor laws” are sorely needed in Texas, but the state would never allow that cause there’s no money to be made in protecting the people and the planet.
If I were holding the most bitcoin I wouldn’t feel the need nor want to mine more. One could do better with that kind of money. In this case, even doing nothing would have been better.
