Technology

“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.

They should be required to shut down some of the machines to get under noise ordinance.

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.

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.

“That pain was worse than childbirth.”

First time I have heard that as pain classification in an article.

Technically there is federal mandate to regulate noise, which stems from the 1972 Noise Control Act—but it was essentially de-funded during the Reagan administration.

the very idea of regulation runs contrary to many Texans’ political beliefs. “As constitutional conservatives, they have taken our core values and used that against us,”

Funny how those are the same "core values", that have been part of Bitcoin from the beginning... but I bet these people will keep shifting blame, just so they can avoid admitting there might be something wrong with their values.

As Bitcoin continues to gain value, miners are building progressively bigger operations, causing gas plants and other fossil fuel emitters to spring back into action.

Curiously, miners don't "need" to do any of that... but greed trumps all.

Bitcoin mining is the ultimate death-ray, focusing on places with the worst social protections, and it can only be stopped through social growth. History will remember it as the great teacher and destructor of vile social structures.

“This whole thing is an eye opener for me into profit over people,” Weeks says in a phone call from the ICU.

“God will provide, though. He always sees us through.”

The parallelism with the memetic power of sacred texts is just too strong. 🫠

Great article. One thing that stood out to me was Texas having the highest state limit for noise level at 85 decibels. That seems insane to me.