No New Cryptocurrency Farms for the Next 18 Months in Plattsburgh

DooKey

DooKey

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Because of increased costs to tax payers for electric power, the city council in Plattsburgh has approved a moratorium on new cryptocurrency farms in the city. Apparently, the city has low electric costs because of hydro power in the area, but once they reach a certain level of use the power costs go up for all tax payers in the city. There are two farms in the city currently and tax payers have been complaining of rising electric rates and they blame it on the farms. It appears that the city agrees. Thanks cageymaru.

"It's a comparative advantage for these companies to come in and get the cheap electric, and they're going to keep coming in until the electric price gets very close to the commercial rates and its going to punish the local taxpayers and the ratepayers," resident Jeff Moore said.
 
tie electric rate to the number of people living at residence... if 0... well jack it up thru the roof. it's turning their town into what looks like a swatter camp with all those trailers parked there.
 
Sounds to me that they're not using a scaled pay system in which if you use an excess of power you pay an excess of money. Everywhere else they do it like that.
I really am unsure about this, but it doesn't make sense to me that most places have many commercial mining businesses in which they have a problem with electricity.

I'm going to suggest without knowing that the city of plattsburg was advertising low electricity rates and people (commercial miners) started up in this town mainly because of the low costs involved.

Now that too many people are taking advantage of it, they're having to roll it back a bit because their non-scaled pay system will start to take a big hit.

Lol, i checked it out. Industry pays 2.61 cents a kwh in plattsburg. Commercial is something like 4.1 cents which is still really low. It has some of the lowest electric prices in the nation.
 
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i would be ok if it required a solar farm they build on their own... but then it wouldnt budget in to their ROI which is really to maximize ROI every few months and who wants to take costs of a solar grid into consideration... who needs blue skys when you can turn the word grey.... i dont want to start the world on fire... i just want to heat up your apartment with my mining rig
 
FTM

"(If the city starts) denying Bitcoin miners, you're not going to get the IBM's. You're not going to get (companies like) Google (and) Facebook (or) the governments' and worldwide banks wanting to host machines that support block chain technology here in Plattsburgh," resident Tom Hilsworth said.
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LOL, trying to compare crypto mining to the likes of google or facebook moving to town??
 
What? Are you saying that trying to get something for nothing has consequences? Good day to you, Sir!
 
BB Gun said:
+1 for not clicking the link!

""By reading linked articles, obvious questions are usually answered"
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Get out of here with your logic. :) I can't talk shit, though. I'm usually the one asking the stupid questions that are easily answered in the article. Sometimes, though, I can't read due to blocked at work. Other times, I'm just a lazy fuck that doesn't want to click and read. :)

BTW - It's New York.
 
Tiered pricing, like water, based on usage.

Find the price that most houses use in a given month, double that as a buffer. Anyone going above that has their rates triple (over simplified; the goal would be to allow all houses / normal retail / normal ops not mining to get under the threshold).

But what'd I'd suspect they'd do is spread out among various locations.
 
Staking is going to be the only way in the future. As more and more farms get charged more or shutdown
 
TwistedAegis said:
Yeah...IBM using blockchain =/= mining.
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Pretty much, a blockchain itself basically has minimal to no actual or computing performance and hence basically no power usage. Blockchains aren't why mining is computer and power expensive. It is how they use blockchains.
 
The whole reason for a blockchain is that it cant be modified once something is stored in it. The only blockchain that can truly make this claim is bitcoin. Most blockchains are centralized and can be forked to undo changes like they did with ether.
 
Galvin said:
The whole reason for a blockchain is that it cant be modified once something is stored in it. The only blockchain that can truly make this claim is bitcoin. Most blockchains are centralized and can be forked to undo changes like they did with ether.
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Any blockchain can be forked at any time. There is nothing magical about bitcoin that prevents this. And FYI, no blockchain can actually make that claim. All they can claim is that it is very difficult to make changes, and that applies to all blockchains, bitcoin included. Nor does bitcoin provide any more protection against changes than any other blockchain algorithm.
 
aaronspink said:
Any blockchain can be forked at any time. There is nothing magical about bitcoin that prevents this. And FYI, no blockchain can actually make that claim. All they can claim is that it is very difficult to make changes, and that applies to all blockchains, bitcoin included. Nor does bitcoin provide any more protection against changes than any other blockchain algorithm.
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You can't go back and change something that's already on the blockchain in bitcoin. Cause it would take too much computational power to become the dominate chain. But blockchain gets thrown around as marketing gimic by companies that will do a blockchain on their private server. And that's not the same thing.
 
Galvin said:
You can't go back and change something that's already on the blockchain in bitcoin. Cause it would take too much computational power to become the dominate chain. But blockchain gets thrown around as marketing gimic by companies that will do a blockchain on their private server. And that's not the same thing.
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I think you vastly overestimate the computation required to become dominate.
 
Galvin said:
Watch Andreas Antonopoulos he explains why this is.
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I understand the science, no need to listen to someone try to explain it. As it is, there already isn't enough diversity in ownership of the vast majority of the bitcoin mining hardware.
 
aaronspink said:
Any blockchain can be forked at any time. There is nothing magical about bitcoin that prevents this. And FYI, no blockchain can actually make that claim. All they can claim is that it is very difficult to make changes, and that applies to all blockchains, bitcoin included. Nor does bitcoin provide any more protection against changes than any other blockchain algorithm.
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Exactly. The exponentially increasing requirements for mining new blocks was an intentional design choice to control the rate of the distributed ledgers growth. Part of the strength of a distributed ledger like Bitcoin is that many, many copies of it are out there and it would be impractical to try to alter all of them. If you let the ledger get ridiculously large way too quickly then only the big players will have full copies negating the whole strength in numbers point of having the ledger be distributed.

As most things in life, it's all about the trade offs :)
 
Glad to see citys doing this, but it sure would be nice if the states would jump in and do it.

This whole race to use the most eletricity needs to come to an end.
 
BSmith said:
Glad to see citys doing this, but it sure would be nice if the states would jump in and do it.

This whole race to use the most eletricity needs to come to an end.
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Your obsession of bitcoin world negativity needs to come to an end. Go get a hobby and do something productive.
 
Just wait until Plattsburgh realizes the local taxes they are missing out on. Then it will be a free for all...
 
whoismoes said:
Just wait until Plattsburgh realizes the local taxes they are missing out on. Then it will be a free for all...
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Except money made through bitcoin more likely than not isn't staying local, the income that might stay local is whatever cost of rent to whomever owns the property, meanwhile since everyone's cost of living just went up because now they're all paying more for electricity then they spend less. Net result is local economy actually take a bigger hit if they allow more farming.

That said, yeah I don't exactly expect leaders of government even on the local scale to really think that much beyond one level of "HEY MONEY!"
 
rive22 said:
Your obsession of bitcoin world negativity needs to come to an end. Go get a hobby and do something productive.
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Gee, I could say the same thing about you. See how well that works?

Oh, I do have another hobby. Letter writing, to the powers that be. I'll let you figure out the goal.
 
I never thought I'd see Plattsburgh in the news for anything technology. I used to drive there every single weekend when my wife went to college there. I absolutely loved the town/city. Awesome college too!
edit: mind you, im 45 min outside manhattan... Was a fun drive in a boosted integra. about 30 min north of albany its nothing but trees and MAYBE 1 cop. Just floor it about a 4 hour drive 1 way
 
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