Bonus Tweet of the Day

[RandySF]

Link to tweet

?s=20&t=dg0cO2_otIjrnHslRGWs_w

[Lovie777]

1. Yea, but Texas GQP are owning the Libs tho . .. .

I read that Bitcoin is a failure. Ya would think Texas governor would have more "concern" for his people.

[Phoenix61]

2. IMHO, bitcoin is the high-tech version of a pyramid scheme.

There can only be 21m coins and we are at 18.5 what happens when we hit 21m?

[uponit7771]

3. Bitcoin mining is a top 3 energy consumer Texas?! I don't see that in any data

[albacore]

4. I'm old...can anybody explain "bitcoin mining" and how it uses energy? Keep it simple, please. nt

[Tommymac]

6. It uses a computer's power. Many many computers.

Untold numbers of pcs, servers etc. run constantly creating BC. They run 24/7/365.

By itself one server or pc does not use a lot of power. Multiply by huge number and they push up enegy consumption on the grid.

[albacore]

7. The 'puters/servers/etc are doing what? Trading? Is there THAT much trading? nt

[Tommymac]

8. Generating BitCoin.

Each cpu, hard drive is used to generate Bitcoin.

https://www.investopedia.com/terms/b/bitcoin-mining.asp

[albacore]

9. OK... I read it and I think I understand. One more question: WTFF??? nt

[Tommymac]

10. To make coin. If you make you own it. See why it is a ponzi scheme?

Only the founders really make any money. Just like Amway.

PT Barnum is laughing in his grave.

[albacore]

12. So... the Stock Market on meth... with computers....something like that? nt

[dalton99a]

5. .

On Wednesday, ERCOT said they are not asking businesses to shed loads during the potential freeze. Still, energy-guzzling Bitcoin miners have volunteered to power down, according to Lee Bratcher, the Texas Blockchain Council president.

Bratcher said Rhodium, Riot Whinstone, Bitdeer, Computer North and Layer 1 have all powered down to save energy.

One of the largest facilities in North America is Riot Whinstone. It's located in Rockdale, just an hour north of Austin. The facility uses enough power to power a large city.

https://www.kvue.com/article/weather/winter-storm/texas-bitcoin-miners-power-down/269-78230361-bd1c-4eea-a0d0-93afc3ea8ea9

[gratuitous]

11. Texas has made its choice

Bitcoin is valuable; Texans, not so much. Re-elect Abbott!