This will beba furthermore steps to ease the challenges with miners when mining bitcoin if only the energy company could remain ever commited to implementing this, i saw something related of recent whereby the United States oil and energy giant ExxonMobil trying to use waste energies from petroleum refineries in mining bitcoin in some of it stationed location across the world to help bitcoin mining using renewable energy source, in this case with shell, they can extend their limit beyond just conference but also laying a foundation of something permanent to serve as solution to the challenges miners have.
What's good with this is that it is Shell. Talking about resources and that matter, they've got a huge resource that can really be useful for most miners and help them with what they're offering. But hopefully, this is going to help also the small time miners and it's not just only limited to mining farms with huge facilities.
Well it is an obvious step, since a large portion of energy prices are actually caused by delivering the energy to your location. If you are a energy company and can simply mine bitcoin at the place where the energy is created, you have an unbeatable advantage above everyone else since the price for transportation and all the power lines etc. will not be paid.
Still only future will tell if this is more then marketing for shell.
Well, that's what I thought at first when I've read those headlines but it's not Shell that's going to mine. They will only offer the solutions and technology they have for maintaining a better operations for these mining facilities. But who knows if they'll have their own bitcoin mining facilities and I guess that's better since they can really do it on their own.
This is great news for Bitcoin but probably terrible news for at home miners. I don’t think anyone will be able to compete with companies like Shell, Exxon, etc. They have access to energy at prices we could only dream of and will likely pressure Bitcoin mining operations in places with cheap power and older equipment. I think we might be seeing the final evolution stage of Bitcoin mining.
Somehow, a good news will always have the other side of it. But looking at the brighter side, this is just starting and we can all have that conclusion that this is a huge company that's put interest to give some help to the huge miners. Well, eventually there could be some changes like them starting to put their footsteps into actual mining.
We should be more interested in talking about good new like this, rather than centralized ponzi schemes going bust, run by scammers. Bitcoin (not crypto) is going mainstream & there’s nothing anybody can do to stop it.
Get on the right side of the new world order & buy as much bitcoin as you can. We are the new wealthy elite.
Too much negativities these days and that's why some news like this would really give some positive vibes. This is what we want, more adoption coming from huge enterprises and bigger names in the actual industry.
definitely, good news while everything is going with FTX and Binance these days.
Bitcoin and the crypto industry now getting some recognition among common people, after crypto.com sponsoring the world cup and now shell oil companies sponsoring crypto magazine.
That's Bitcoin Magazine. It's true that because of the most negative news that we're seeing and even crypto.com has been on the hot seat because of some FUD or rumors about them. That's how who make those news can disrupt the market and lose focus from good news like this.
Shell and other energy companies are getting into everything these days that involves energy. They know that with the amount of regulations coming up for gas & oil it's adapt or die. They are NOT run by idiots, and they have the massive budgets that they can come into any industry and dominate. There has been talk that with Shell (yet again) coming into the electric car charging market that they may crush a lot of the smaller players. Not even to be evil, just because they have such a massive machine they can just come in and take over.
Bit OT but to show how these big players can do what they want. There was a company called KeySpan here in NY, they were a natural gas utility. Since they had the 'right of way' to do a lot of things they also where they could ran high speed data fiber. When looking at costs for dark fiber, they were always the cheapest by far. Just because of their size at the time. The fiber side was sold off to another company and the gas side was also sold, but for a while they were on top.
Shell, can do the same to any market they want to get into, but unlike KeySpan, are probably never going to be acquired or sell off parts of their business.
-Dave
Companies like Shell has already an advantage if they want to take over another industry. It's an easy thing for them and I agree that having a huge budget if they ever plan to take over, they can. We may see them acquire some companies that would be taking care of this business as they're more focused into energy industry. So, this is just like an introduction for them and maybe they've got already roadmap and plans set all along.
This is pure business. Now specific coolants/lubricants from Shell is a way to have their business on cryptocurrency sector. Sponsoring the Bitcoin conferences makes its solid presence into bitcoin. The magazine gives a business connect and slowly the involvement will widen. Being a giant in the oil industry will surely try to capitalise at the right time.
In recent days the energy companies participation into cryptocurrency related activities have increased. Shell have reached late to the party. Many oil companies have called crypto miners to create mining infrastructure close to the plants with which it is possible to support mining out of the excess oil.
I don't think that Shell is too late. It's never been too late when most of the biggest firms in different industries are not yet here and coming with this during the bear market. It's a good setup for them as we're anticipating the next bull run. There could be some greater news that's in store and waiting to be released for their next move but maybe that's reserved for those conferences.
I didn't expect this news and I'm not sure if I like it. Certainly it shows that bitcoin is becoming more and more accepted in society, but is it a good thing when a company like Shell starts mining? Ultimately, it will certainly mean that only large companies will continue to operate Bitcoin mining, because it will only be worthwhile for these companies in the future and most small, private miners will be pushed out. That's why I'm a bit skeptical. Let's see if I think differently about it tomorrow.
It's not Shell that's going to mine, they'll only offer their technology and products to the miners for cooling systems. But maybe, they'll soon start that since they're an oil/energy company, electricity and stuff won't be a problem to them.
