Submitted by leperpepper t3_10k9fy9 in Pennsylvania
Comments
Asleep-Arm5840 t1_j5pde2q wrote
That's fucking cringe, can we stop this?
DonBoy30 t1_j5pmpek wrote
I hate this shit.
MonsterNog t1_j5pn1lt wrote
Right after losing 70% of its value, good work everyone
Inert_Uncle_858 t1_j5pfvob wrote
What. Jesus fuck just stop it with the crypto bullshit already. It's been officially outed as a scam. Everyone knows this.
Generic_Mustard t1_j5ptkid wrote
Bitcoin has a market cap of over $400B, so who is everyone?
eatmygummies88 t1_j5q7w4j wrote
It's a stock market for poor people which seems to just be a task to keep people who run numbers busy and concerned
Azraiah t1_j5piuyn wrote
The current assumption being sold to the locals is that it won't be 100% bitcoin, just that it was originally built for bitcoin but will now be used primarily as "big data warehousing for companies like Amazon." I'm not buying it and most of the locals just ignore it exists. At least this means a segment of homes around the pad site will finally get city water lines installed so they aren't limited to wells.
leperpepper OP t1_j5pq26x wrote
Thanks for the additional info.
Azraiah t1_j5pqpz6 wrote
Based on what I've been hearing from some locals who were working on the site construction is that Cumulus Data is contractually obligated to dedicate a certain percentage of the output of that facility to bitcoin but they're free to do with the remaining resources as they want (hence "big data warehousing" being shopped around).
Construction on the site was halted for several months right after bitcoin tanked. Crews were told it was becuase they were re-evaluating continuation of the project.
Kabloosh75 t1_j5ppfk4 wrote
Well if Bitcoin is unprofitable they are sure as hell going to pivot and turn it into a hosting data center especially since they probably sunk many millions of dollars into building this facility already.
That said, crypto still has a market so while this sub may think it's dead it's not.
selectinput t1_j5qa8xe wrote
Yeah this article isn’t great, but the reality is that a subset of US companies are (and have been) moving certain operations out of platforms like AWS to colocated data centers to reduce costs.
Kabloosh75 t1_j5qd07y wrote
That to me doesn't sound like a bad thing since it helps make the market less of a monopoly in Amazon's favor.
I host a lot of my own data so I see the value in keeping it in house instead of getting stuck with one company. It's like with cellphones. It's hard to move between Android and Apple.
selectinput t1_j5r7g59 wrote
Very true! I’m interested to see how this one shakes out.
Alternative-Flan2869 t1_j5qjhrl wrote
There always be suckers, always.
Shad0wSmurf t1_j5pybwa wrote
It's actually as an investment venture absolutely viable if bitcoin rising and lowering determine whether it's financially profitable. If you look at it in a narrow scope. Nuclear provided energy is exponentially more expensive on a output level than it is to other methods. The last 2 reactor nuclear power plant was built in the 1980. There has not been any or; rather, very minimal advancement in the area of nuclear derived power and its ability to capture "more" energy than was estimated to produce in the 1970's and then built without any "additional increases" in capabilities or capacity.
The cost of the more expensive energy, paired with PRIVATE electricity rates, that is not being used or paid for to any other company , except for them. They never "pay" for the energy directly , the nuclear radiation have half life's that could potentially be initially purchased and then not need a "refueling" for 30 years. And any "extra" can be sold -- DIRECTLY to companies who pay a HEFTY amount for "backup power".
And they can charge a arm and a leg because who else can provide 100% guaranteed sustained power even as a primary provider. And the "extra" power not sold; is paid for immediately by profits FROM the Miners they have powered. "infinite money" and they will be the first.
Grow_away_420 t1_j5pqyci wrote
People are still buyin this ponzi scheme?
NearABE t1_j5ps7ga wrote
Which one of the schemes are you asking about?
ProudBoysLikeMen t1_j5qcc12 wrote
Not a Ponzi but we get it u don't understand it.
Er3bus13 t1_j5plit3 wrote
Always late to the party PA crypto is over
ReturnOfCE t1_j5po0yz wrote
Please don’t let this idiocy give nuclear an even worse rep
[deleted] t1_j5q3z0f wrote
Came here looking for this comment. Nuclear energy gonna get nowhere sadly.
fallser t1_j5pjzf9 wrote
For $hitcoin? God help us
qrpc t1_j5pu15j wrote
Diverting carbon-free energy from powering the grid to wasteful Proof of Work crypto operations isn't "clean"
vinnie5451 t1_j5q3py4 wrote
Its a datacenter their free to sell space to who ever wants to pay for it
qrpc t1_j5rxcvw wrote
I didn’t say it was illegal. Claims it is clean are greenwashing.
We can have crypto and blockchain tech without wasteful proof of work.
ConcreteThinking t1_j5pu0wc wrote
Clickbait nonsense. It’s a data center that will lease some space for mining, among other things. It will use up to 48 megawatts of electric from the same grid a 2500 megawatt nuclear power plant is connected to somewhat near by. But hey. Got me to click.
crhine17 t1_j5pzzc4 wrote
The "directly connected" means it's tapped in before it goes to the grid/switchyard. They're not paying the normal tariffs and delivery fees as if they were connected to the grid. But yes, it's just a zero-carbon (hello incentives) data center where some of it may mine bitcoin.
[deleted] t1_j5tanl3 wrote
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Trout-Population t1_j5pi6ye wrote
This is fucking rediculous. A complete and utter waste.
choptheair t1_j5q1x6r wrote
We survived 3 mile island, this too shall pass.
eviljelloman t1_j5pvac4 wrote
Because my electric bill isn't already going up too much every six months, we should start flushing electricity down the toilet for stupid libertarian money laundering schemes.
Shad0wSmurf t1_j5qi68g wrote
That's exactly what they are trying to prevent them from having to deal with . And sell the extra for and to a market that ALWAYS will need power. Data Centers
Griff82 t1_j5px8vr wrote
The grift continues.
iscott55 t1_j5q0i9c wrote
This comment section is gonna be hilarious is 5 years
clover44mag t1_j5scis6 wrote
Why?
iscott55 t1_j5scrpk wrote
Comment sections on topics like these tend to be extremely wrong one way or another when it comes to speculative assets
Shad0wSmurf t1_j5uv6mw wrote
Mostly any comments section in /r/Pennsylvania is extremely wrong in 5 years from a neutral perspective. Filter for either "Oldest" or "Controversial" and you realize that it's apparent Pennsylvania is mind-boggling irrational in their opinions.
MarriedWChildren256 t1_j6hvzmt wrote
This comment section would be lit 10 years ago. I wish I was around on reddit during the Ron Paul revolution days when it wasn't just Chinese shilling NPCs.
Edit: if this would have been titled promoting the ESG score increase the NPCs would have been fawning.
Worland102688 t1_j5q4k1b wrote
I am 100 percent for more nuclear energy, but this? This is stupid as shit.
rain6304 t1_j5qakrd wrote
Adding to the list of “embarrassed to live in PA,” right between crappy roads and a gas tax
[deleted] t1_j5r79c0 wrote
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SquareConfusion t1_j5uq4ak wrote
When you see infrastructure projects like this supporting Bitcoin which are simultaneously happening all over the world, you should pay attention. Do you think the dollar is going to last forever? It’s devalued by 1800% since the 70’s. That’s not changing and will only continue to get worse. There is almost no feasible way that money could have greater security and ease of use in a worldwide market. It is not crypto or a shitcoin. It is a viable alternate currency that’s currently able to be used for purchases in more countries than dollars are without conversions first. The ‘Lightning Network’ is essentially a free service and today, as a matter of fact, just reached a new ATH for transactions taking place in which was over 5,000 bitcoins. With only 21 million possible bitcoins ever, it is quite literally the only deflationary currency in history. Unless we find all the gold and never mine asteroids in the future, there is no other currency that has a finite amount. Good for PA on getting ahead of the curve a little.
[deleted] t1_j5pcw0i wrote
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notallwonderarelost t1_j5poqo3 wrote
Five years too late
[deleted] t1_j5pqntm wrote
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defusted t1_j5pwn3j wrote
What a bunch of assholes
LordElfa t1_j5q2nl1 wrote
I hope they all go bankrupt.
ProudBoysLikeMen t1_j5qc9ku wrote
Seems like they're a bit late to the gold rush..that shits deflated a lot.
Annahsbananas t1_j5r7hty wrote
Lol ok
makingburritos t1_j5r9oat wrote
You’re confused, I’m confused, we’re all fuckin’ confused
earthcaretaker315 t1_j5rd27z wrote
Just what the world needs. wtf but its green . So they say.
OutrageForSale t1_j5sjgj1 wrote
So embarrassing
worstatit t1_j5t9bdi wrote
Don't see any value to this, hope they lose their shirt.
AtBat3 t1_j5vvdv8 wrote
Thanks I hate it
RedStar9117 t1_j604x9m wrote
Gross
dancingprotein t1_j5qnizl wrote
A new currency called Nukedcoin?
innoutjoe t1_j5t5tq1 wrote
Rad
Shad0wSmurf t1_j5q0dzm wrote
It's actually as an investment venture absolutely viable if bitcoin rising and lowering determine whether it's financially profitable. If you look at it in a narrow scope. Nuclear provided energy is exponentially more expensive on a output level than it is to other methods. The last 2 reactor nuclear power plant was built in the 1980. There has not been any or; rather, very minimal advancement in the area of nuclear derived power and its ability to capture "more" energy than was estimated to produce in the 1970's and then built without any "additional increases" in capabilities or capacity.
The cost of the more expensive energy, paired with PRIVATE electricity rates, that is not being used or paid for to any other company , except for them. They never "pay" for the energy directly , the nuclear radiation have half life's that could potentially be initially purchased and then not need a "refueling" for 30 years. And any "extra" can be sold -- DIRECTLY to companies who pay a HEFTY amount for "backup power".
And they can charge a arm and a leg because who else can provide 100% guaranteed sustained power even as a primary provider. And the "extra" power not sold; is paid for immediately by profits FROM the Miners they have powered. "infinite money" and they will be the first.
tomo32 t1_j5poq2q wrote
Did any of you actually read the article before you commented? It’s Zero-carbon and the first in the country. I for one think this is a good thing for Luzerne County. If you think otherwise maybe you should take your negative attitude and move somewhere else. I’m sick of people holding back this area with their negative attitudes
prof_cunninglinguist t1_j5pqwxl wrote
I promise you, nuclear powered bitcoin will do nothing for your community.
UnaffiliatedOpinion t1_j5rbnnh wrote
They’re just using existing capacity that was built decades ago. It’s a zero-sum move, where the data center can virtue signal how “green” they are while forcing thousands of homes, factories, and businesses off nuclear and back onto coal or natural gas.
If they were building new capacity I’d give them some credit, but this is just greenwashing and isn’t doing anything to help the environment.
Ok-Library247 t1_j5p69h6 wrote
What a fucking waste of electricity.