The negative impact of mining farms

[brg444]

Our farms are naturally cooled by the surrounding arctic air and exclusively powered by renewable energy.

https://www.kncminer.com/news/news-102

Lol, that's their pitch for their new cloud mining farm.  Reading comprehension fail.

One of their real farms is what you have pictured below.  The link you offered is another pitch, all I see is "will reside."
Now highlight the part stating renewable energy is actually being used

This farm pictured is right there, in Boden. All of their farms are.

The company does its mining in a helicopter hangar in Boden, a Swedish town near the Arctic circle, where it’s in the process of tripling capacity.

http://www.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.html

It is my understanding that all facilities in the Node Pole are fed directly from the hydropower station nearby (one of the biggest in the world). Sorry, no exact quotes.

When do you stop trying, troll?

[NotLambchop]

...
One of their real farms is what you have pictured below.  The link you offered is another pitch, all I see is "will reside."
Now highlight the part stating renewable energy is actually being used

...It is my understanding ...Sorry, no exact quotes.
...

So, you got nothing other than "your understanding"?  Don't even joke like that.  

[brg444]

...
One of their real farms is what you have pictured below.  The link you offered is another pitch, all I see is "will reside."
Now highlight the part stating renewable energy is actually being used

...It is my understanding ...Sorry, no exact quotes.
...

So, you got nothing other than "your understanding"?  Don't even joke like that.  

http://thenodepole.com/regional-qualities/electricity-and-infrastructure/

This is the location of their farm.

If after reading this you are so dishonest as to say KNC's farm might not be powered by renewable energy than I can't help you anymore.

I tried to spoon feed you every information so you wouldn't choke on the truth but looks like trolls have digestion problem.

Face it troll, even after moving the goal posts, you lose.

[NotLambchop]

...
One of their real farms is what you have pictured below.  The link you offered is another pitch, all I see is "will reside."
Now highlight the part stating renewable energy is actually being used

...It is my understanding ...Sorry, no exact quotes.
...

So, you got nothing other than "your understanding"?  Don't even joke like that.  

http://thenodepole.com/regional-qualities/electricity-and-infrastructure/

This is the location of their farm.

If after reading this you are so dishonest as to say KNC's farm might not be powered by renewable energy than I can't help you anymore.

I tried to spoon feed you every information so you wouldn't choke on the truth but looks like trolls have digestion problem.

Face it troll, even after moving the goal posts, you lose.

You are linking me to a promo site.  I'm giving you actual stats for renewable energy in Sweden.

"The share of renewable energy in Sweden: [8]
1990 33 % 1995 36 % 2000 38 % 2005 41 % 2010 48 %"

Node Pole is in Sweden.  Why is Sweden not 100% green if there's a surplus of hydro power?  Or?

[NotLambchop]

A brain twister:

All of country_A's energy needs met by hydro power.
Megamine comes to country_A, and uses its hydropower, calling itself "green."
Since now there's not enough power left for the rest of country_A, coal burning plants are built to supply the deficit.
The coal plants aren't feeding megamine, they're feeding country_A; country_A is now dirty, while megamine is "green."

[spoiler]The country is burning shitloads of coal it wouldn't have, if not for the "green" megamine using up all the hydro.[/spoiler]

[BlindMayorBitcorn]

A brain twister:

All of country_A's energy needs met by hydro power.
Megamine comes to country_A, and uses its hydropower, calling itself "green."
Since now there's not enough power left for the rest of country_A, coal burning plants are built to supply the deficit.
The coal plants aren't feeding megamine, they're feeding country_A; country_A is now dirty, while megamine is "green."

[spoiler]The country is burning shitloads of coal it wouldn't have, if not for the "green" megamine using up all the hydro.[/spoiler]

Good point. I thought we were talking about Georgia...

[NotLambchop]

A brain twister:

All of country_A's energy needs met by hydro power.
Megamine comes to country_A, and uses its hydropower, calling itself "green."
Since now there's not enough power left for the rest of country_A, coal burning plants are built to supply the deficit.
The coal plants aren't feeding megamine, they're feeding country_A; country_A is now dirty, while megamine is "green."

[spoiler]The country is burning shitloads of coal it wouldn't have, if not for the "green" megamine using up all the hydro.[/spoiler]

Good point. I thought we were talking about Georgia...

I was talking about country_A, more of an exposition than a dialog, really. Would you like to have a talk?  What's on ur mind?

[BlindMayorBitcorn]

A brain twister:

All of country_A's energy needs met by hydro power.
Megamine comes to country_A, and uses its hydropower, calling itself "green."
Since now there's not enough power left for the rest of country_A, coal burning plants are built to supply the deficit.
The coal plants aren't feeding megamine, they're feeding country_A; country_A is now dirty, while megamine is "green."

[spoiler]The country is burning shitloads of coal it wouldn't have, if not for the "green" megamine using up all the hydro.[/spoiler]

Good point. I thought we were talking about Georgia...

I was talking about country_A, more of an exposition than a dialog, really. Would you like to have a talk?  What's on ur mind?

I was wondering what the bare minimum cost is these days to mine a bitcoin. Seems a good deal cheaper than I thought.

[NotLambchop]

It's hard to guess, and ASIC companies are a secretive bunch.  It's certainly not cheap for retail-buying, non-electricity-thieving miner.

[mailmansDOGE]

I don't think that the arms race of the ASIC companies is doing any bad to bitcoin. It's rather some competition and an entire industry built up on bitcoin. If bitcoin's price goes down again, those guys will go bankrupt in seconds. They're the ones keeping the price pumped. We should love big mining farms rather than hate them. We're still on the early days (now), imo it's mainly the asic mining industry that keeps the price up.

[NotLambchop]

Not sure if true, also not sure if pumping price like that is too good for Bitcoin.  And not sure what "decentralized" will mean when 95% of the mining is done by a cabal of a few companies.  

[DaRude]

I don't think that the arms race of the ASIC companies is doing any bad to bitcoin. It's rather some competition and an entire industry built up on bitcoin. If bitcoin's price goes down again, those guys will go bankrupt in seconds. They're the ones keeping the price pumped. We should love big mining farms rather than hate them. We're still on the early days (now), imo it's mainly the asic mining industry that keeps the price up.

If anything it's weeding out competition from the solo miners and concentrates it in mega farms. Is competition between say 3 mega minining farms really decentralized?

[brg444]

A brain twister:

All of country_A's energy needs met by hydro power.
Megamine comes to country_A, and uses its hydropower, calling itself "green."
Since now there's not enough power left for the rest of country_A, coal burning plants are built to supply the deficit.
The coal plants aren't feeding megamine, they're feeding country_A; country_A is now dirty, while megamine is "green."

[spoiler]The country is burning shitloads of coal it wouldn't have, if not for the "green" megamine using up all the hydro.[/spoiler]

Good point. I thought we were talking about Georgia...

I was talking about country_A, more of an exposition than a dialog, really. Would you like to have a talk?  What's on ur mind?

Are you intentionally retarded?

"The Luleå river produces twice as much electricity as the Hoover Dam does, so 50 per cent is exported from our region. There is a surplus of energy, and we can supply more data centres in this area easily," Engman said.

KNC is in Sweden yes, but in Boden, Sweden, next to what is likely the biggest hydropower facility in the country.

Is your stupid ass suggesting they are actually routing power from coal facilities outside the region right up there near the artic circle to power their data centres

Here is a quote directly from Hydro66 data centre press release, they're a neighbour of KNC :

The facility is fed directly by the 78 MW Boden hydropower station, located less than 500m away.

If we're being honest, this is likely the case for every data centres in the Node Pole.

[mailmansDOGE]

Not sure if true, also not sure if pumping price like that is too good for Bitcoin.  And not sure what "decentralized" will mean when 95% of the mining is done by a cabal of a few companies.  

Mining can still serve it's purpose of verifying transactions even if it's done solely by 3 parties. As long as it's somehow possible to mine profitably, people will do their best to break even by mining. This has become too hard for individuals. If bitcoin remains active, I predict that in the upcoming years only companies with huge assets and access to bulk orders of hardware will be able to profit from mining. As long as we have a variety of pools and more than 2 major hash sources the network is going to work in it's full potential though.

I guess that after a point has been reached that no one can profit from mining, no matter how high the price has gone or how much he's able to invest mining is going to be something equivalent of running a node. Only done by hobbyists and supporters that are looking to help the network.

[mailmansDOGE]

Additionally, some of the bigest mining operations right now are cloud mining operations, where the mining profits are paid to investors. Are they ponzi schemes? We don't know (with exceptions), but huge amounts of BTC are being transferred through them to individuals on a daily basis. Maybe in the end centralised mining is not all that bad since the BTC is going back to people. Yes, mining is becoming more and more centralised, but people are still earning from mining and you can't really argue that mining with your own hardware is more accessible to the average individual. It's harder both financially and technically. 

[NotLambchop]

...
Are you intentionally retarded?
...Is your stupid ass...

Lrn to polite.

[brg444]

I guess that after a point has been reached that no one can profit from mining, no matter how high the price has gone or how much he's able to invest mining is going to be something equivalent of running a node. Only done by hobbyists and supporters that are looking to help the network.

I'm not sure how this you could envision this happening

[NotLambchop]

Not sure if true, also not sure if pumping price like that is too good for Bitcoin.  And not sure what "decentralized" will mean when 95% of the mining is done by a cabal of a few companies.  

Mining can still serve it's purpose of verifying transactions even if it's done solely by 3 parties...

Or even by one person with a few boxen.  That's not ideal, tho.  It may be inevitable, but we don't have to say it's great.

*The cost of mining should approach the price of bitcoins being mined.  That means if Bitcoin was the world currency today, 10% of the world's wealth would be burned by Bitcoin mining per year

[DaRude]

...Maybe in the end centralised mining is not all that bad... 

Most people invested in BTC would strongly disagree.

[BlindMayorBitcorn]

...Maybe in the end centralised mining is not all that bad... 

Most people invested in BTC would strongly disagree.

Super strongly. Isn't there a hard fork for this kind of thing?