pendragon1
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and then they brag about doing nothing and making money as if its something to be proud of.
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Bitcoin miners leave China for US
- Thread starter DarkSideA8
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kirbyrj
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No they aren't. You're conflating different crypto (in this case ETH and BTC) because either you don't know any better or you're just being obtuse. NOBODY is mining bitcoin with GPUs who then claims to be turning a profit. In fact, I don't know if there's even a program still available and functional with current pools to mine bitcoin with GPUs. Getting paid in BTC to mine for something else (usually ETH) with their GPU is different than mining bitcoin.
The article say:
And increasingly, miners are decamping for places like Texas, South Dakota or Canada
https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a
Industrial kwh cost is not specially good in the USA in average, but going has low has 3.87 cent a kw-h in some electricity market it get has good has anywhere else I think.
https://www.technologyreview.com/20...-wind-boom-has-spawned-a-bitcoin-mining-rush/
Texas is apparently quite friendly to miners (politically it sound like one of the most pro crypto place you can get) and with is giant amount of solar and wind I imagine you can consume extra power during peak at good price.
In those climate sometime they go with liquid immersion instead of air for cooling I think:
When texas lost power it did show on mining pools hashrates, texas has some of the biggest mining facility in the world (Chinese company built some in the past):
https://www.coindesk.com/why-bitmain-is-building-the-worlds-largest-bitcoin-mine-in-rural-texas
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pendragon1
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yeah there are and no im not. stupid people are. thanks tip, i knew that. people that see it in the news and online jumping on the bandwagon are the ones that dont know any better. we have students trying to mine btc on our school equipment, its the idiots....
but as someone pointed out, this is all off topic.
on topic: chinese miners can piss off
kirbyrj
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Even linking your own posted article:
https://cryptominertips.com/can-you-mine-bitcoin-with-one-gpu/
He spends half of the article talking about why BTC doesn't use GPUs and then tells his readers to mine ETH.
I still don't even know what software would run on your school computers to mine straight BTC. If someone is smart enough to use an old command line program which is what you'd need these days, they are smart enough to know that you don't make money that way. If they are using something like Nicehash, then they wouldn't be mining BTC either because Nicehash wouldn't let them. Probably a combination of Monero and ETH.
I'm genuinely interested in what your students are trying to run just out of curiosity.
Axman
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Interesting. I knew the Dakotas and Canada but was really skeptical about Texas.
sfsuphysics
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Well first you'd have to get Congress to agree bitcoin mining, which is something nations probably want to see die, is a form of commerce.
That said, historically Congress hasn't done shit here in California other than letting local regulations charge a fuck ton for power.
That's the US gov manipulating people to justify regulation and blame inflation on something other than the massive money printing they are doing.
More like moving from Communism to pre-Communism. US is becoming really not all that much different from China. We just haven't (officially) installed social tracking. Have you seen news on Microsoft lately? Work in process.
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sfsuphysics
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Texas as horrible as the power was portrayed in the news last winter, has allowed customers to get disgustingly cheap rates at times and lock them in for a year at a shot.
Where are you shopping? I looked on ebay and the 3080 still seems to be massively scalped with the cheapest recent sale being $1725/
Axman
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Not Congress, just regulatory agencies. They still have Chevron on their side, and currently, some of the stronger cases against Chevron may be ATF-related, so who knows what the courts will do there for now.
I still think something's up with the original article. While I agree that China is involved with crypto, I think the article is trying to accomplish something else. Could be just stirring anti-crypto sentiment, associating it with foreign interests, that sort of thing. If crypto gets a bad public image, it will increase general acceptance of crypto regulation.
It's gotta be tough on WaPo to choose between propping up the US government versus propping up the Chinese government...
cjcox
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There's always Amway or Talk Fusion....
(or brothel, etc...)Seanix and Ingrammicro mostly.
Dreamerbydesign
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And they just made the news again last week for rolling blackouts due to power demand and infrastructure issues. They can promise whatever rate they want. If you can’t get the service to begin with, it won’t matter.
Krenum
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Good, Janet Yellen would like to know their location.
There were no rolling blackouts in Texas last week. There wasn’t even a chance of it. There was an OCN, the equivalent of which happens in all three Interconnections many times every year.
it wouldn't be any more authoritarian than regulating banks, sanctions etc. I think something like trade/currencies allowed would fall well within their right to manage.
Dreamerbydesign
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*edit* regardless, this isnt the time for power to be out for anyone.
In all fairness you probably should have upgraded quite a while ago. I was just thinking yesterday if a 7970 would still be enough to game these days considering how old it is so a 7750? Where you actually planning on upgrading this generation in the first place??
Yes, I've been looking to upgrade to a Nvidia 1650 but they're going for like $400+ right now.
Things are already getting bad down here in Texas due to all of the people fleeing blue states. The population has been significantly increasing since 2000, but in the last 5 years it has exploded, thousands of houses are going up every week and all of the big industries trying to relocate here are just exacerbating it. The growth is unsustainable, and has been for years. Nobody in the government cares, especially in Austin because all they see is the millions of dollars in tax revenue and jobs. It's also jacking up the land prices and forcing people that have lived here for decades to lose their land and houses. One of my customers a couple of weeks ago said his property value went up 500% in the span of two years and the tax burden is on the verge of forcing him to sell. Austin has been on a gentrification rampage for years, forcing all of the east Austinites off their land and reselling it to developers to build condos and apartments. They justify it by trying to put a pretty face on it "we know we stole your land, but here is affordable housing! Congratulations, you qualify for a tiny shit one room efficiency, it doesn't matter that you had a medium house and a big yard before! COMPLY CITIZEN."
Industry is exacerbating it, Samsung being a prime example. They want to build a wafer fab in Austin and according to my neighbor who works at the water supply for the area, they've come by demanding to be supplied with insane quantities of water that plainly don't exist. I think he said something like 1.2 million gallons A DAY. That's enough according to him to supply three large cities and then some, and they don't have the capacity. The aquifer doesn't either and is already severely over strained.
The power grid issue is peanuts compared to what's going to happen in a few years. We're going to have an ugly no holds barred water war here in a few years, just wait until the next major drought like we had back in the 2008-2011 time frame, it's not going to be pretty. Thank god we're on a co-op that bought water rights back in the 1980s. It's going to be as bad or worse than California's water wars.
We don't want Tesla, Samsung or any more people down here, It's bad enough already. We love you, but please find some other place to go, anywhere else but here.
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staknhalo
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Yeah not with businesses really, but I saw the same gentrification happen when they turned Brooklyn into a Mumford & Sons music video like 15 years ago
The big businesses directly lead to gentrification. XYZ business comes in, and suddenly you have a ton of people outside the state putting pressure on the housing market for houses because they want to move with said company. XYZ company makes it worse by lobbying the government for housing and does slimy backroom deals to get low income, low density single family homes taxed out of existence so big developers can come in and build condos, apartments, hotels, etc.
People not even interested in selling their houses are being harassed as well. We get mail all the time from slimy Californians and New Yorkers with a google maps picture of our house on a post card "are you interested in selling your property, we'd looooove to have it!" Some of them go into stupid detail of why they deserve our house and why we should sell it to them.
I mean, this is basically what happened to California / Silicon Valley in the late 80s and on. All the tech business moved in and property prices went nuts. While I feel sorry for someone that ends up having to move because they can’t afford the property taxes, I also know a couple people that bought their houses in Cali for 100k and sold them for over a mill, moved out of state (one to Colorado, the other to Wisconsin) and basically retired.
legcramp
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Are you saying I should buy a couple houses in Texas right now?
Yeah, not happening here. People are taxed off their land before they can sell it for a gain. The appraisal skyrockets, as do the tax bills. The person can't sit on their property long enough and eat the tax bills for it to gain enough in value to still be in the black, so sleazy developer comes in and offers below market value since they know the person is in trouble. The only two options are really to not pay property tax and be forclosed on by the county for failure to pay or take the pittance you get from the developer and try to find somewhere else.
Not exactly easy with the pandemic restrictions and housing costs across the country skyrocketing from materials shortages.
Cali was something of a special case because your property tax there is effectively locked to your purchase price.
LodeRunner
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I was curious, so I looked it up. Looks like Texas has mandatory annual reassessments, so your property tax is always against near-current market rate. Ouch. So yeah, it looks like it's currently very easy to get priced right out of your home of decades because of a land rush.
In California, it takes a transfer of ownership (and not even all the time then), or some new construction or significant reconstruction, to trigger a reassessment. So if you bought a house, say in 1980, for 100k, and never sold, your current property tax would be against an assessed value of $225k this year (see CA Prop 13; maximum 2% annual increase).
Yep, it's a trash system. The only way you'll get an exemption is if you're a veteran, not even the elderly are spared. The only thing they'll get is a discount/freeze on property tax values (which stupidly has to be re-applied for every year) that'll take the last rate they paid and keep it at that level. They also graciously allow you to pay in monthly installments with an added penalty and fee if you choose to do so.
HAL_404
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isn't it amazing how we have gone full circle in the USA and wound up back in 1775 ???
Have said it before will say it again, when the majority of the People realize that what they are loosing outweighs what they are gaining they will revolt ... guaranteed. It's human nature to do so.
This land is your land and this land is my land
From California to the New York island
From the redwood forest to the Gulf Stream waters
I cut out the last line there because it's no longer true
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cjcox
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Actually, about 10 years ago (just being honest). Gotta time machine?
And the worst part is, they're stupid. My phone # is somehow associated with a house in south Dallas and I get texts almost daily calling me Thurman and asking me if I want to sell my house at [address]. Lately they've started adding "reply STOP if you don't want to hear from me any more." I never do that because that won't help with the 800 other jerks texting me.
Even worse than that is the one who called me a couple days ago and did something that caused the phone to emit half a ring and then go straight to voicemail. Whoever invented that trick should be strung up.
I reply to the drive-by texters telling them the house price is six million dollars, cash only, in small, unmarked, non-sequential bills.
staknhalo
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All you're doing is confirming to the spammers that's an active number with someone dumb enough to interact with them, GJ getting yourself more spam
Ignoring them wasn't doing anything, either, so, no.All you're doing is confirming to the spammers that's an active number with someone dumb enough to interact with them, GJ getting yourself more spam
A logistics firm from Guangzhou, Fenghua International has confirmed to CNBC that it’s airlifting 3,000 kg (3 tonnes) of mining machines including graphics cards and ASICs to Maryland, USA. The firm advertises door-to-door delivery with prices as low as $9.37 per kg, including taxes on both ends.
https://www.hardwaretimes.com/chine...o-maryland-usa/amp/?__twitter_impression=true
Mayland and Texas are two states most suited to the needs of miners due to cheap electricity and a sparse population.
The province of Inner Mongolia, Sichuan, and Guangzhou have straight up banned the practice, with the authorities even cutting off power to the farms.
https://www.hardwaretimes.com/chine...o-maryland-usa/amp/?__twitter_impression=true
Mayland and Texas are two states most suited to the needs of miners due to cheap electricity and a sparse population.
The province of Inner Mongolia, Sichuan, and Guangzhou have straight up banned the practice, with the authorities even cutting off power to the farms.
pendragon1
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"Interestingly, there has been no outrage from the US public upon seeing this shift. " yeah, cause they dont know anything about it. im kinda surprised its that easy for them to move there...
No one is moving anywhere. It was a hardware sale from owners in china to new owners in the US. Hundreds of these sales are happening as hardware owners in china have made a calculation that they're better off liquidating than relocating.
Longterm this is a good thing for the health and stability of crypto, for a big chunk of it's hardware infrastructure to be reshuffled to parts of the world that still have some semblance of property rights.
pendragon1
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"Chinese Miners Airlift 3 Tonnes of Graphics Cards and ASICs to Maryland, USA"
this doesnt say anything about selling them, it clearly says shipping and then this part:"According to sources, even before the collective blackout of the mines was announced in Sichuan, miners had already started moving their equipment to other countries, including Russia, Kazakhstan, and the United States."
so it sounds like they are moving to me. also, the thread title is "moving" not "selling"...
last point, depends on who youre talking to....