Democracy Matters -
Winning the Fight Against Imperialism
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Monday, 19 March 2018
quote [ The city of Plattsburgh, New York announced on Thursday that it is temporarily banning the commercial mining of cryptocurrency for 18 months.
Plattsburgh residents have seen skyrocketing electrical bills — as much as $100 to $200 increases — as a result of commercial cryptomining operations that mine for cryptocurrencies like bitcoin ] Plattsburgh attracted the miners with artificially low rates. Another version of racing to the bottom.
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5th Earth said @ 9:37pm GMT on 19th March
Disingenuous again. The low rates apply to everyone and everything in Plattsburgh, which is part of the problem: when the city exceeds its contracted cap, everyone's rates go up regardless of if they are a miner, a business, or an ordinary household.
5th Earth said @ 9:41pm GMT on 19th March
Disingenuous again. Commercial use does get declined rates, but low rates apply to everyone and everything in Plattsburgh, which is part of the problem: when the city exceeds its contracted cap, everyone's rates go up regardless of if they are a miner, a business, or an ordinary household.
These rates were negotiated back when the local hydro power plant was built, long before Bitcoin was even an idea. It's literally impossible that this was intended.
<-- Entry / Current Comment
5th Earth said @ 9:37pm GMT on 19th March
Disingenuous again. Commercial use does get declined rates, but low rates apply to everyone and everything in Plattsburgh, which is part of the problem: when the city exceeds its contracted cap, everyone's rates go up regardless of if they are a miner, a business, or an ordinary household.
These rates were negotiated back when the local hydro power plant was built, long before Bitcoin was even an idea. It's literally impossible that this was intended.
