“In October 2021, Governor Greg Abbott hosted the lobbying group Texas Blockchain Council at the governor’s mansion. The group insisted that their industry would help the state’s overtaxed energy grid; that during energy crises, miners would be one of the few energy customers able to shut off upon request, provided that they were paid in exchange.”
Incredible. Driving up energy needs to make their fake currency will help the state’s energy grid, because we can then hold the grid hostage until we’re paid.
Why would they pay them, just use the power of the free market and raise the price of electricity (or even just for industrial users like bitcoin miners) when supply is low until they bow out because it’s not profitable and demands matches supply. Weird how the free market is only good when it’s not free, but dominated by monopolists.
They should be required to shut down some of the machines to get under noise ordinance.
Texas isn’t used to regulating businesses, to say the least.
This. Why haven’t they shut it all down for 24 hours to see if that helps people?
The obvious answer is greed.
No need to shut down for 24 hours, just meet noise levels “compatible with life”, 24/7.
But that requires regulation, and if people don’t want any… well, then this is the effect.
But think of all the benefits this bitcoin mine brings for society, like, er, …
That said, without proper studies it’s questionable whether the mine is causing the illnesses.
Without proper studies on the damage of consistently high decibel sound exposure? We’ve got a lot of those… where do you think the guidelines around decibel exposure came from?
It is a natural study. Just compare rates to those of nearby towns. Possibility very fast to do.
Putting aside the crypto aspect, this is a simple story of a lack of zoning and government regulation. I am sure it sucks for those who live near these places but, the problem is why they were allowed to be built near residential areas at all. There will always be noisy or polluting industry but sensible planning puts these sorts of places away from where they will most harm people and disrupt their lives. And forces them to minimize the amount of noise and pollution they produce to start with.
This is just one example of so many for why we should want to put up with govt regulation. Trust me I know how annoying it can be but we’re doomed without it. Now that the Supreme Court has defanged our institutions i.e. the Chevron deference, you can expect a lot more of these sorts of problems and with less ability to fight it.
There is a procedure in place for granting permits to industry like this in every state. In New York, for example, when a potential site is selected, the business must apply for the permit to build and goes through a process of reviewing environmental and human harms in the area based on their operations. They are also required to notify residents and hold public participation events to ensure residents can ask questions about the development. “Good neighbor laws” are sorely needed in Texas, but the state would never allow that cause there’s no money to be made in protecting the people and the planet.
If I were holding the most bitcoin I wouldn’t feel the need nor want to mine more. One could do better with that kind of money. In this case, even doing nothing would have been better.
It provides security to the network and gives them more power over the price.
“That pain was worse than childbirth.”
First time I have heard that as pain classification in an article.
That’s just a quote from the woman speaking about her experience. I’ve personally heard often about childbirth as potentially causing incredibly intense pain.
Pain during childbirth is claimed by the Bible to be a literal curse from God in Genesis 3:16, so, yeah, I’d reckon that it’d be hard to top that!
I’m a dentist. I hear it all the time. Its a good comparison for, often, the worst pain someone has experienced.
Technically there is federal mandate to regulate noise, which stems from the 1972 Noise Control Act—but it was essentially de-funded during the Reagan administration.
the very idea of regulation runs contrary to many Texans’ political beliefs. “As constitutional conservatives, they have taken our core values and used that against us,”
Funny how those are the same “core values”, that have been part of Bitcoin from the beginning… but I bet these people will keep shifting blame, just so they can avoid admitting there might be something wrong with their values.
As Bitcoin continues to gain value, miners are building progressively bigger operations, causing gas plants and other fossil fuel emitters to spring back into action.
Curiously, miners don’t “need” to do any of that… but greed trumps all.
Bitcoin mining is the ultimate death-ray, focusing on places with the worst social protections, and it can only be stopped through social growth. History will remember it as the great teacher and destructor of vile social structures.
“This whole thing is an eye opener for me into profit over people,” Weeks says in a phone call from the ICU.
“God will provide, though. He always sees us through.”
The parallelism with the memetic power of sacred texts is just too strong. 🫠
Great article. One thing that stood out to me was Texas having the highest state limit for noise level at 85 decibels. That seems insane to me.
