tehinternet posted:

If you take a little to demonstrate that they’re ignorant to the scam, good on you.

If you take all they’ll give, you’re an awful person for taking advantage of old people’s ignorance of one of the most lied about and poorly understood technologies/scams on the planet.

I’m sure you’ll do right thing.

ymgve posted:

do an upside down ponzi

say you will invest in bitcoin for people, but just put it into a "high" interest bank account

if someone wants to withdraw when bitcoin is up, say you are sorry, and refund them the full amount they invested

if someone wants to withdraw when bitcoin is down, take 5% and give them the rest, and they will be happy because they got back a lot more than expected

kw0134 posted:

"Everything is a gamble," says local idiot as he jumps into a pit of alligators. "The ball pit is a hazard too," he screams as the alligators tear him limb from limb.

EorayMel posted:

The poker subforum came back after a very long slumber and it has an excellent casino worker AMA thread, check it out

https://forums.somethingawful.com/showthread.php?threadid=3955704

Slugnoid posted:

just cashed out all my dunning-krugerrands and made $800 profit on what i put in the first place. i have to say it's a nice feeling but gently caress if im ever doing that again. its too loving nerve wracking.

I think i'm just going to talk to someone professional about putting my savings into safe long term stocks instead of internet magic beans.

Stanley Pain posted:

i'm paying off my mortgage. how's your day going?

quote:

Pollution-spewing power plant rises from the dead to mine bitcoin
Power plant was left for dead until the cryptocurrency boom came along.

Few bitcoin projects illustrate the cryptocurrency’s enormous climate impact better than the Greenidge power plant in upstate New York. The once-abandoned power plant was bought by private equity firm Atlas Holdings and retasked. A significant portion of Greenidge's electricity no longer powers nearby homes or businesses; rather, the plant's smokestacks are increasingly pouring pollutants into the atmosphere in the service of mining bitcoin.

Now, Greenidge is on the verge of ramping up its bitcoin ambitions. By the end of this year, it plans on having 18,000 specialized machines mining bitcoin, and with the recent approval of its data center expansion plans, it will add 10,500 more. When the project is complete, the miners will be using 79% of the power plant’s capacity, or 85 MW.

“No direct competitor currently owns and operates its own power plant for the purpose of bitcoin mining,” the company wrote in its recent S-4 filing with the SEC. “No other bitcoin-mining operation of this scale in the United States currently uses power generated from its own power plant.” The filings came as a result of Greenidge's recent merger with Support.com.

Many nearby residents are not pleased. At a planning board meeting last month in the town of Torrey, New York, a crowd of around 50 people were split in their opinion of Greenidge’s expansion plans. The additional four data center buildings would provide 12 long-term jobs, but the mining operations would significantly contribute to air pollution in the area and discharge hot water into a nearby trout stream that empties into Seneca Lake.

Environmental groups are concerned about the plant’s footprint. Dozens of local residents, along with the Sierra Club and others, have filed a lawsuit to halt the expansion, claiming it would violate New York law by discharging high-temperature water into the stream and lake and that those discharges would increase the likelihood of harmful algae blooms. Toxins produced by such blooms cannot be stripped from the water, and several petitioners draw their homes’ drinking water directly from the lake.

Part of the controversy stems from the fact that Greenidge was once destined for the scrap heap. Its owner had gone bankrupt a decade ago, and the coal-fired power plant was retired and its operating permits abandoned. But then Atlas Holdings bought the plant in 2014 and spent $65 million to convert it to natural gas and get it running again. Greenidge restarted in 2017 and spent the next two years testing its bitcoin-mining strategy. Over time, it sold less electricity to the grid, devoting more and more power to its mining operations.

The plant’s shift to bitcoin-only operation comes at a time when New York State is fighting to keep cryptocurrency miners from taking advantage of the state’s cheap power. In 2018, the Public Service Commission gave municipal power companies the ability to raise rates on cryptocurrency customers.

Greenidge’s operations aren’t affected by PSC decisions, though. Their mining happens “behind the meter,” meaning it's not affected by grid-level prices. And those operations appear to be fantastically profitable. Between February 2020 and February 2021, the company mined nearly 1,186 bitcoin at a cost of $2,869 per bitcoin. Today, one bitcoin is trading at $57,475.

In the company’s SEC filings, Greenidge says it will use expertise developed at its current power plant to expand to at least 500 MW of mining capacity by 2025.

SYSV Fanfic posted:

My dad suggested setting up a crypto brokerage for all his old people friends. No matter the price I'd make money, and the sooner they lose money the sooner they will realize it is a scam and shut up about it, so it'd be a win for both of us.

Shumagorath posted:

I don't think Captain Planet villains were this one-dimensional:


https://arstechnica.com/tech-policy/2021/05/private-equity-firm-revives-zombie-fossil-fuel-power-plant-to-mine-bitcoin/

FilthyImp posted:

cock to death.

Shumagorath posted:

I don't think Captain Planet villains were this one-dimensional:


https://arstechnica.com/tech-policy/2021/05/private-equity-firm-revives-zombie-fossil-fuel-power-plant-to-mine-bitcoin/

kw0134 posted:

I too like committing securities fraud on national television, it makes me super cool

spankmeister posted:

Instead of hacking a pipeline someone should hack that power station imo

Liquid Communism posted:

I mean it wouldn't be the first time he's committed securities fraud in public media.

Collateral Damage posted:

Brute force nitrogen-compound based hacking.

catspleen posted:

Dyson sphere based miners. Harness the entire output of a star for bitcorns, still only one block every 10 minutes!

comedyblissoption posted:

Food 200 Acres remaining arable land
Data 100 zettabytes public ledger
Breathable Air 100 km^3
Dyson Sphere Cryptomining 380 yottawatts
Laborers 2 million
someone who is good at the economy please help me budget this. my planet is dying

divabot posted:

Doctor_Fruitbat posted:

There's a lot going round Twitter right now about Chia being able to wreck a 512GB SSD in like six weeks, and if that's true then look forward to all the world's storage being smashed with a metaphorical hammer until the whole thing implodes.