Bitcoin mining is the wave of the future. Now one cryptocurrency mining company is powering its own energy-gobbling computer systems. But for some, the solution generates concern.
Human plans nearly always involve unintended consequences. Consider Saul’s sacrifice at Amalek (stripped of kingdom) and Moses’ striking the rock (barred from the Promised Land). Christians have an all-wise Counselor to help them discern God’s will (Romans 12:2) in rocky matters—no digging required.
Bitcoin mining may conjure images of rocks and pickaxes. But this mining looks nothing like the 1800s Gold Rush kind.
Bitcoin mining refers to putting more bitcoin (encrypted digital currency) into circulation. Powerful computers solve difficult mathematical problems or puzzles. Each complicated solution creates a bitcoin. As calculations become more complex, computers run harder and longer, using more energy.
Greenidge Generation began producing electricity in a former New York coal plant in 2017. Serious bitcoin mining at the plant started last year. In about three months, Greenidge mined 729 bitcoins. Cryptocurrency values fluctuate, but one day in October a single bitcoin was worth over $63,000!
Today, Greenidge runs its 15,300 computer servers and still sends electricity into the state’s power grid.
But environmentalists see Greenidge as creating pollution problems. They oppose the plant’s water use from a nearby lake. Air quality around the plant is also a concern.
Others point out that the megawatts dedicated to bitcoin mining could power more than 35,000 homes. They fear more revitalized power plants will pump out toxins merely for profit.
Environmental groups have asked New York’s Governor Kathy Hochul to enact a statewide freeze on energy-heavy cryptocurrency mining.
The Greenidge website asserts that the company maintains net-zero carbon emissions. That means the amount of carbon dioxide added to the atmosphere doesn’t exceed the amount taken away. Greenidge says it operates “fully within the state’s nation-leading high environmental standards.” But many conservationists see net-zero as simply a way to sidestep pollution laws.
Around the country, other power plants also perform cryptocurrency mining. Marathon Digital Holdings operates a coal-fired station in Montana. It provides 100% of its energy for bitcoin mining. CEO Fred Thiel says Marathon used to find a building, rig it for mining, and buy power from a utility. Instead, Marathon decided “to flip that model upside down” because officials “knew that there are lots of underutilized energy generation sources” in the United States.
Supporters see Greenidge as an economic boon in an area that needs help. The company touts its mining station as delivering “a piece of the world’s digital future.”
Do you think converting underused power plants to bitcoin mining facilities is a positive, a negative, or some of both? Why?
Why? Human actions start with causes and have effects, sometimes unintended ones. It’s important to consider those consequences and hold them up to the light of God’s perfect will for how we live and thrive.
Pray: For willingness to consider all sides of a matter; for hearts to take issues to God for guidance; for people in leaderships to make thoughtful decisions.
@Above :O
2140??! That's way, way, WAY too long!!!
Yeah, and by that time people
Yeah, and by that time people will have most likely found a way better system.
Bitcoin
Okay, I do NOT understand how it works. What are the complicated mathematical problems the computers have to solve? Why just 21 million bitcoins? Why do they have to mine it?
@KN
I'm not an expert on this, but if I'm right, there's an infinite, and yet limited amount of bitcoins, or solutions to be had. Like, all the numbers in between 0 and 1. (That was borrowed from Calamity by Brandon Sanderson. A nod to one of the best books I've read.) Anyway. It seems the more solutions or bitcoins you find, the more scarce they become. I could be wrong, tho.
@ HD
So it's a number on a computer screen that is worth thousands of real dollars??
@N&M A
Well, yes. Lol. Though, that idea isn't so unusual. People have been paying bunches of money for virtual stuff for years now. Basically, this stuff is worth whatever people are willing to pay for it, it gets more valuable. Cuz I guarantee you, if there were only forty seven people in the whole world buying this stuff, it probably wouldn't be selling for thousands of dollars. It's supply and demand. Demand goes up, supply goes down, and price rockets past the moon.
@ HD
Ah, okay. That's what I thought. ....
I'm so confused.
I don't get ANY of this stuff.
@Ralph-Lauren S
OK, so, basically, as far as I know, people take solutions to a certain math problem or something and deem them as currency. Really, bitcoin is worth zilch. It's just numbers. But. It's what people are willing to pay for it that gives it any value whatsoever.
hmmmm
hmmmm
@Hesperus D.
Wow. Thank you very much. I get it a lot more now.
here is the answer
this is coming from someone who does crypto himself aka me. to mine crypto, not just bit coin but any crypto currency, you need need to create a mining room. this costs a lot of money but for those who are willing you get to mine on your own without any other person helping you virtually. this means that the amount of crypto you get is larger. when you mine your computer is answering extremally complex math equations. problems so complex you cant solve them. when your computer solves a problem it get a fraction of a fraction of a bit coin. as you solve more problems they get more complex as you get closer to constructing a full bit coin. what happens when you solve these problems is. you are pulling a little bit of bit coin out of the nothingness of the internet void. you are finding bit coin. then after you have gained a certain amount you can cash it out. the problem with this is is that it takes a large computer and to get any amount of bit coin you need many computers working together. this uses a lot of energy. i hope this is helpful. this is my first time back on WNG in a few months so hello every one.
@Ethan K
What kinda specs would have to be on each mining computer, ya think? And how many computers, minimum?
@Hesperus
honestly you could be running the oldest computer available but the better the specs and the better the computer the faster it will be able to process the equations. it takes a very long time for a computer to mine bit coin. honestly unless you have a super computer its not worth it. it is very rough on your computer because you have to run it 24/7. if you wanted to mine a fair amount of bit coin you would want very good modern computer towers and probably as many of them as you could afford.
@Ethan K
Yeah, doesn't sound like a practical way to make money. After all the money you spend on the computers an' all that, you prolly wouldn't make enough to make it worth it.
@Above
I had a conversation with Addie L on another article about all this Bitcoin stuff. she did pretty well in explaining it. I will post the link and y'all can go read it if you would like.
https://teen.wng.org/node/7198
The CPU: AMD Ryzen
The CPU: AMD Ryzen Threadripper 3960X Processor
the motherboard: ASRock H110 Pro BTC+ 13GPU
coolant: Liquid and 20 fans blowing right at the motherboard and cpu
GPU: NVIDIA GeForce RTX 3090 DirectX
Graphics card: GeForce RTX 3080.
(This PC isn't just for mining)
huh???
wait why do they need to solve those complex problems, and why r they worth so much???
@ KN
same !! I'm pretty confused to .
@Caden W
That a gaming computer you own?
bruh
the moment i bought bitcoin it price started to drop :(
bruh
the moment i bought bitcoin it price started to drop :(
@Caden w
that looks like a expencive powerfull computer if u have a geforce rtx 3090
@Asher R
:( Too bad. I know how you feel! #buythedip!!!
This is Alecia
No matter how many times they try to explain it, Bitcoin still makes no sense.
@Ahavah
Are you a tech person, or more of other stuff type person? (other stuff being more hands on things. Outdoor activities, sewing, sports, whatever)
@HESPERUS D and @ASHER R
I would really like to own a computer like that. but... Im playin Minecraft at 20fps on my 2015 macro pro that my Mom bought for me and my brother. Also my friend's dad got an RTX 3050 for like $300 to replace their GTX something-something. I would like some ideas to earn money. BTW I am twelve. If that helps anyone think of any ideas. what I mean is that where I like I cant work at Chick fil a until I'm 14.
@above
Sorry MacBook Pro
@Caden W
Yeah, can't really help ya much there, man. Try getting odd jobs? I mean, if you share the Mac Book, I guess you can't sell it now, can you. Btw, if you want a gaming computer, I'd recommend the Acer Nitro 5. It's a good starters computer.
@Caden W
Being that young it is hard to get even a part time job because of school, but like Hesperus said you could try to get random odd jobs. Like shoveling driveways and sidewalks for people (if you live in an area that snows) in the summer you can mow lawns. I know a lot of boys that do that. Everyone seems to hate mowing lawns and would rather pay someone to do it. Cleaning and weeding garden beds for elderly people who can't get down to do it. If you make some sort of something and sell it. I don't know if you bake or anything, but bake sales are always good.
???
No matter how much Bitcoin is explained, I will always be confused.
@RILEY D and @HESPERUS D
@RILEY D: Thanks. I'll try that stuff.
@HESPERUS D: That laptop looks cool man. Do/did you own it?
@Riley D
I tend to get my schoolwork done in 2-6hrs (Homeschooled). So a lot of those things might work well.
Finding work is hard at 12
Stupid VA labor laws..
@Caden W
Yeah, I do. I need to upgrade, but it's not bad for a starting gaming computer. It runs every game I've bought.
Yeah, that's kinda rough, but, remember, I doubt many ppl yer age wanna go find a job, or can. So I doubt they would've taken that into account when they made the law. Or there could be more valid reasons...
@Hesperus
Yeah 12 year olds running around with knives from the butcher's doesn't sound to good
@Caden W
Woah-ho, bruthuh, that got dark quick!! XD What happened to CFA? I notice you went straight to sharp things. LOL
@ Hesperus D
Totally a other stuff person. We live on a farm with our goats, rabbits, and chickens. We love the outdoors and like exploring different activities.