The Chinese government has long tried to stamp out cryptocurrencies in the country with varying levels of success. In 2021, a ban on mining finally sent firms packing and seeking countries like Kazakhstan with friendlier stances toward crypto mining. They’ve also found homes in towns all over the US, where companies are encountering both support and criticism from locals, as well as politicians at the state and federal levels. Will Bitcoin be regulated in the States, and how should our leaders approach it?
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44 Comments
Grifters gonna keep on grifting.
Yes! “Why are Bitcoin and cryptocurrencies?”
Why is not financial speculation mentioned in this piece?
Where is the real product of this industry?
didn't finish the vid and just curious the future quantum computer could crack the bitcoin's encryption easily?
This must have been filmed when BTC was $60K a coin. At half of that price, is an operation like this even profitable?
It’s totally decentralized
*company running $30 million in miners *
'Mining machines known as ASICs' this really upsets my inner nerd 😠! ASICs are application specific integrated circuits…specialized processors, which have been around since before Bitcoin was even a dream (or a nightmare, more accurately). Get it right!
That's where all our hardware and GPUs are going…to mine this crap that's just gonna go straight to hell anyways ..it's only a matter of time. Pretty sad, really.
It's not hard to ban something so reliant on industrial amounts of electricity…as indicated by having to move the entire operation out of China. Crypto would barely exist if it was just random consumers using home computers…
I'm mining ETH at a around $4.50 day with my 3090 with a silly goal to pay it off…which works out fine but I'm not going to invest money into the sole purpose of trying to mine. Just wait for the real crypto winter to hit and buy it.
China simply does not have authority to supervise or regulate Bitcoin in any way. But they'll try whatever, like banning mining etc, only to lose against other countries in the long run.
Only the bad canadians their low guts toward bad USA bad finance merchants or audit disacters as the canadians' lazy greediness coward attitides even only want benefits from Chinese without their efforts given tho!
So much fake news in everything that Vice does. BTC is 0% private. It's called a fucking public Blockchain on a distributed public ledger. Oh soo much disgusting pollution for the dirty coal. The dudes are straight up fried bro
The ultimate scam…will be laughing my ass off when Western governments also ban crypto currencies rending them all worthless.
Wait a minute!! Why can't an ordinary person mine bitcoin? I was told there was only a certain amount of bitcoin that will ever be available. So what happened to that story? Why is no one worried about virus put in these machine since there coming form China?
For those who responded to my previous post that I should look for an explainer video about crypto I did. Here is my choice…. Web3.0: A Libertarian Dystopia….. LMFAO
You’ll need a billion solar panels to power your electronics lol
You can hear, watch, and examine her lunchbox perspire as she counted each $10k rig. Then her mood changed when she interviewed the miner from China so much that he had to tell her "I'm a miner too.." because her perspiration was gone all of the sudden.
You usually don't hear about China's progressive policies setting the trend that other countries should follow, but here we are. Banned in China, over 100 more countries to go.
These people contributes nothing to society while eating up huge amounts of power and leaving a massive carbon footprint
I love VICE but this is probably the most biased piece of media of seen from them. what a joke
Crypto is a scammers paradise. Anything that happens in this space is a virtual Ponzi scheme.
PoW is dying, fast.
I wonder what their security looks like. Hundreds of millions of dollars of equipment in this warehouse.
Maybe they got sick of wasting their electricity over something that can be quelled by a strong central government (which they do).
Yep, a declining empire tries to take up an emerging superpower's rejects. Great move, not.
XRP, XLM AND XDC have entered the chat.
cost to mine just become more expensive, with physical Gold once mine it stay
What is interesting is people saying what a waste of resources to run these mining machine. It is first and foremost a business. They are trying to be responsible with power consumption using renewable energy. How much does it cost to recharge every cell phone in the USA every day? How much electricity do government buildings use every day? How much jet fuel do politicians use to fly back and fourth from their home state? What does that equate to in fuel used by the USA yearly. How much energy is wasted by people who need to run their air conditioning every year? How much fuel is burned up in New York city with vehicles sitting in traffic? That is electricity and fossil fuels. Energy has to come from somewhere. Renewable resources are not viable at this time. Fossil fuels are. The next viable power source is nuclear power plants. Designs have been standardized so they are cheaper and safer. The step after that would be fusion power. It is going to be 50 to 100 years for solar and wind to become really viable. Lithium ion batteries are very toxic to the environment. There is not a really great way to dispose of them, and they will be around for many thousands of years while they leach into the soil and the aquifers. Need real innovative solutions. Not just wishful thinking that if it is electricity, it is clean.
Whatsminer m30s + smokes the s17+. I work in two phase immersion systems. Stock firmware ocd on m30s was able to ramp up to 180th/s in Novec 7100. It could have taken more watts/cm2 but the stock PSU maxed out. So I immersed one card on one psu and hit 77th/s meaning that with more juice can get 200th/s per 110th/s miner from what's miner. Best bang for your buck.
I smell kickbacks. What reason is there to compete to attract a business to your city that is environmentally not friendly and provides virtually no jobs? Kickbacks
If you don't consider the output valuable, no amount of power usage, renewable or otherwise, if justifiable to you. The Grinch thinks Xmas lights are a waste of resources.
Crypto is a fad like baseball trading cards.
All I get out of this is that even BITCOIN is now a CORPORATE Engine now, and it uses up a WASTE of ENERGY. ALL Countries should ban Crypto! It's utterly stupid
DogeCoin to da Moon!!!
Crypto is done!!I predicted this.It’s garbage I would never invest in unregulated currency garbage!!!
Jordan just babbled for over 2 minutes…. Saying absolutely nothing. How damaging is all this mining to our environment because we could probably benefit more mining for our own energy sources vs virtual money
Bitcoin miners are leaches on the society; they want the tax-payers to fund their cheap electricity so that they can get rich. The amount of power required to run the thousands of servers and cool them for the output of bitcoins is astounding at around 1,600 kWh per bitcoin which is estimated to be around $35,000 per bitcoin mined. These guys should be charged premium for every kWH consumed by the miners as they are not doing anyone a favor but themselves. The way these guys speak is that they're contributing to the local community which is hot, pure BS.
This at anytime was a bad idea.
At 19mins, they are LAUGHING about setting up an illegal powerplant. THAT'S CLEARLY reason to shut down all bitcoins! No environmental safeties, gas well could have blown up!! No Regulations = NOT FOR the USA. Do the right thing: BAN CRYPTO
Crypto is for losers who couldn't make it selling Amway.
Don't trust crypto
i think it's a waste of power. The money can put into something else like cloud structure
Elizabeth Warren is licking her lips at this sleezy looking guy…. she's going to tap her fang's into your words