power providers cleared to hike rates for crypto miners

[charlie137]

https://www.coindesk.com/new-york-power-providers-cleared-to-hike-rates-for-crypto-miners/?utm_content=bufferca35e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

in some countries you need to register with the gov to be able to mine legally. but in ny state you also need to pay extra just because "you not contributing to the community". ok, besides that i just might don't like people - any kind of mining is a huuge contribution to the community (on the scale mentioned in the article). thats exactly why mining is profitable. so how its this really happening?

[1715068725]

1715068725

[BenOnceAgain]

https://www.coindesk.com/new-york-power-providers-cleared-to-hike-rates-for-crypto-miners/?utm_content=bufferca35e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

in some countries you need to register with the gov to be able to mine legally. but in ny state you also need to pay extra just because "you not contributing to the community". ok, besides that i just might don't like people - any kind of mining is a huuge contribution to the community (on the scale mentioned in the article). thats exactly why mining is profitable. so how its this really happening?

It's unfortunate that this is occurring and probably will continue to occur, which sucks.

People need to think of some unconventional ideas to mitigate against this.  First, you can enter into a JV with the power company itself, if they're down for it, that is.  Another thing is to do something good with your excess heat, such as grow produce.  A decent mining operation has enough heat to help a good size hothouse/greenhouse produce a variety of different vegetables.  Sales of these items would cover the costs of the staff needed to tend the crop.  You could even sell them at a discount to residents of the town as a gesture of goodwill.  The discount is a goodwill write-off. (Not tax advice, blah blah blah.)

Another way to mitigate against the costs is to conduct some other mining (GPU probably) in conjunction with your BTC mining, such as distributed computing "useful work".  Then you can make a better case that your computational power is being put to a good use.  Mining operations should really consider themselves to be data centers.

In my view, it's important to have good relations with the community to help adoption.  One of the things my organization wants to do is develop outreach programs that can be used by operations that are moving into an area to educate the public / local lawmakers / potential employees about blockchain, cryptocurrency, and its huge potential benefits to humanity.  These type of educational programs will help to speed adoption and promote the benefits that you and I know about, but that many others are just starting to grasp.  In addition to top-down advocacy (to regulators and Congress / state legislatures), a bottom-up approach is also a great way to spread positive information about cryptocurrency and other decentralization related technologies.

Best regards,
Ben

[inillo]

https://www.coindesk.com/new-york-power-providers-cleared-to-hike-rates-for-crypto-miners/?utm_content=bufferca35e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

in some countries you need to register with the gov to be able to mine legally. but in ny state you also need to pay extra just because "you not contributing to the community". ok, besides that i just might don't like people - any kind of mining is a huuge contribution to the community (on the scale mentioned in the article). thats exactly why mining is profitable. so how its this really happening?

I wonder if the wall street trading boys get penalised in the same manner, since I don´t see how do they contribute more to "the community" than a Bitcoin miner, just to mention one example.

[BenOnceAgain]

I wonder if the wall street trading boys get penalised in the same manner, since I don´t see how do they contribute more to "the community" than a Bitcoin miner, just to mention one example.

Of course they don't.  In fact, they probably benefit from these increases in some way.  They own the casino, house has an advantage.

We need to do what we can to eliminate that.  It's what has held humanity back from true progress.

Best regards,
Ben

[Hueristic]

This is nothing more than an attempt to stifle competition, the power companies do the same thing to people that want to generate their own electric by making the barrier of entry to costly by only allowing their expensive grid tie inverters to be used.

[Zandar]

With the way difficulty is rising and the price of it dropping, this whole crypto mining will die out in a few years anyway, so they are too late with restrictions and price hikings etc. Biggest minings aren't going on in America anyway, it's been in Asia and with profit of it dropping and dropping each day, these mining operations are gonna drop off like flies.

[Hueristic]

With the way difficulty is rising and the price of it dropping, this whole crypto mining will die out in a few years anyway, so they are too late with restrictions and price hikings etc. Biggest minings aren't going on in America anyway, it's been in Asia and with profit of it dropping and dropping each day, these mining operations are gonna drop off like flies.

It's an attack on decentralization, a bankers dream. It's no surprise New York scum suckers started it.

[amishmanish]

Another thing is to do something good with your excess heat, such as grow produce.
--snip--
Another way to mitigate against the costs is to conduct some other mining (GPU probably) in conjunction with your BTC mining, such as distributed computing "useful work".

In my view, it's important to have good relations with the community to help adoption.  One of the things my organization wants to do is develop outreach programs that can be used by operations that are moving into an area to educate the public / local lawmakers / potential employees about blockchain, cryptocurrency, and its huge potential benefits to humanity.  These type of educational programs will help to speed adoption and promote the benefits that you and I know about, but that many others are just starting to grasp.  In addition to top-down advocacy (to regulators and Congress / state legislatures), a bottom-up approach is also a great way to spread positive information about cryptocurrency and other decentralization related technologies.

Best regards,
Ben

It is good that power consumption is becoming more of an issue for mining farms. This should lead us towards more efficient hardware as well as decentralize the farms a bit.

I saw that your website has increased the time limit for taken contribution to March 31st, 2018. I love the idea behind BTRIC. Will surely contribute my bit in the form of information sharing and whatever monetary contribution i can afford.

[charlie137]

With the way difficulty is rising and the price of it dropping, this whole crypto mining will die out in a few years anyway, so they are too late with restrictions and price hikings etc. Biggest minings aren't going on in America anyway, it's been in Asia and with profit of it dropping and dropping each day, these mining operations are gonna drop off like flies.

It's an attack on decentralization, a bankers dream. It's no surprise New York scum suckers started it.

maybe update to bitlicense will calm down the scene. but it looks like this is a normal market state

[Hueristic]

With the way difficulty is rising and the price of it dropping, this whole crypto mining will die out in a few years anyway, so they are too late with restrictions and price hikings etc. Biggest minings aren't going on in America anyway, it's been in Asia and with profit of it dropping and dropping each day, these mining operations are gonna drop off like flies.

It's an attack on decentralization, a bankers dream. It's no surprise New York scum suckers started it.

maybe update to bitlicense will calm down the scene. but it looks like this is a normal market state

How so? From what I'm reading that only applies to exchange and money lender regulations and doesn't have any bearing on utilities adding fee's.

[charlie137]

With the way difficulty is rising and the price of it dropping, this whole crypto mining will die out in a few years anyway, so they are too late with restrictions and price hikings etc. Biggest minings aren't going on in America anyway, it's been in Asia and with profit of it dropping and dropping each day, these mining operations are gonna drop off like flies.

It's an attack on decentralization, a bankers dream. It's no surprise New York scum suckers started it.

maybe update to bitlicense will calm down the scene. but it looks like this is a normal market state

How so? From what I'm reading that only applies to exchange and money lender regulations and doesn't have any bearing on utilities adding fee's.

exchanges are the biggest entry point for new investors (besides ico), so proper regulation and standardization could somehow makes overall situation a little better. of course in case of sane, proper approach. im not expecting stable resolution anytime soon, you need a lot of research and dynamic studies to develop the approach that would really satisfy the majority and will bring bright changes. exchanges could be able to list only coins that are satisfy certain criteria. new job positions to keep the things on top would also be a positive output. downside would be increased fees. but i guess that making sense. other side of question is how to keep integrity of the regulations intact.