Bitcoin Is a Great Power

Mining consumes 2.3% of uh us Electricity which actually seems quite Low to me this and it actually says it's From 6 to 2.3% of us electricity Consumption and it it kind of goes on to Basically kind of demonize it from a Federal perspective and tracking of Course the electricity consumption you Can see Texas here really blowing up a Lot of the states are I think Northern Uh New York where po mining's really Popular starting to see a little kind of Across the Midwest not a lot very Interesting map I think overall uh this Did go on to basically kind of defend it To a per a certain perspective but it is Important to note that what you are Seeing is a lot of releases from the eia And so on discussing this and then you See from Time Magazine a Texas Town's Misery underscores the impact of Bitcoin Mines across the US this article's been Getting sent to me across the board from Family members friends Uh acquaintances and of course over on Twitter and this is kind of in my neck Of the woods it's really interesting to Go through but they did seem to Cherry-pick a lot of opinions um the Interesting part here is a lot of it is Complaint over noise pollution like Talking about Cheryl shadon here who Lies awake in her home in Granbury Texas Listening to non-stop Roar it's like

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Sitting on the runway of an airport Where jets are taking off one after Another not quite like that I lived Underneath an airport I also lived near Train tracks and I have had a mining Farm in 150t bedroom in my actual house All three equally annoying I get it Right uh but at the end of the day I Think you can really try to alleviate This by having basically areas where you Can build out cryptocurrency Mining and Where you can't maybe in residential it Starts to get impact on but that does Hurt miners the policy should be noise Right from a HOA perspective or a local Municipality perspective not actually The active mining because as everybody Here knows as a home Miner your Incentive as a home Miner is to Reduce the noise so you don't get a Divorce you know I didn't do such a Great job of that there you go uh the Noise comes from a nearby Bitcoin mining Operation which set up shop a at a power Plant in Granbury last year since then Residents in the surrounding area have Complained to the public officials about Incessant din that they say keeps them Awake gives them migraines and seemingly Cause Wildlife to flee the region and it Goes on to say that the citizens are Suffering in Hood County and Granbury is One of many towns across the US feeling The negative impact of Bitcoin mining

And energy intensive process that powers And protects the cryptocurrency those Impacts include carbon and noise Pollution and increased costs on Consumers utility bills according to the New York Times there are 34 large scale Scale Bitcoin mines across the US in 2022 the crypto Market tumbled in part Due to the high-profile collapses of Crypto companies like Sam bankman Freeds FTX this is the narrative that they all Get Wrong by the way I just want to Bring this up so everybody's completely Aware we all knew that it was going to Come down the Bitcoin having and the Cycle has been the same for the past 12 Years you're not going to convince me That Sam bankman Freed's FTX Scandal was The cause of this reduction in price of Bitcoin because it seems to repeat Surrounding the having cycle what it is Is greedy people being greedy and buying When they see the price level of Bitcoin Go up from the having and then realizing That they don't know what the They're doing and selling it all and Then therefore bringing the price down To a more realistic state which is the Cost to Min to bitcoin has nothing to do With FTX which is the Brilliance of Bitcoin in the very first Place but in 20123 P prices rebounded Once again and mining companies decided To expand their operations in order to

Cash in causing Global energy Consumption for mining to double According to one study critics say that Mining is causing both long-term Environmental damage due to its energy Use as well as local harm we're at a Loss here Granbury resident shadon said We won our last back Bitcoin is so Energy intensive because it relies on a Process known as proof of work rather Than being overseen by a single Watchdog Bitcoin is designed to disperse the Responsibility of the Network's Integrity to voluntary miners around the Globe who prevent tampering through a Complex cryptographic process that Consumes a vast amount of energy all of You all know that over the past few Years Texas has become a Gro Global Leader which is awesome because Texas is A global leader in this and natural gas So like Secession my man it is what it is so it Does say the Bitcoin miners consume About 21100 megawatts of the state's Power supplies and companies like Riot Platforms and Marathon digital Holdings Have recently expanded in the state in December Marathon paid 178 million to Purchase Bitcoin mines in kiery Nebraska And Granbury from generate Capital but With the Grandbury purchase Marathon Also inherited swath of angry nearby Residents cross Hood County whose lives

Have been up appended by The Mining Facility generate Capital started Operating the 300 megawatt facility Which sits about an hour Southwest of Fort Worth in 2023 initially many Residents were unaware that what exactly Was was causing the noise Shannon wolf Who lives about 8 miles from the plant First assumed that the rumble was coming From a nearby train has woken me up from Dead sleep before she says like I said Liv near a train track very used to that Happening and that's kind of the thing Like we Want this is the frustrating part about All of it like obviously we need to Figure out ways to where people can get Along at at the end of the day and People aren't impacted as heavily like I Definitely understand That and I get that but at the end of The day too like we we have certain Things that are provided to us Conveniences that are provided to us by Industry that are going to be noisy Like Trains like planes like Bitcoin mining Right there are these things that are Going to happen that have to take place To to a certain extent give you the Convenience that you so desire right um Maybe also from that perspective not Having your power shut off right this is Something that Bitcoin probably does for You that you don't even realize by the

Curtailment in that particular Region and so you really like with Innovation that we have these growing Pains but like there are industries that Have been around for ages centuries like The railroad that are just going to be Noisy right but you wouldn't want to Give up that Convenience as residents learned what Had caused the den social media Platforms like next door in Facebook Flooded with complaints this sound The Sounds have been driving me to the point Of insanity I've Contin ous migraines I Can barely get out of my head vomiting Nose bleeds painful knots in my scalp Wrote one commenter all the birds have Left only buzzers wrote another poster That's pretty funny I think very very Very subjective there speaking of if You're getting headaches and so on for The from the whim and the Wi-Fi signals Uh I'm uh wearing a tin foil hat right Now uh you can pick it up on Amazon I Thought it was pretty funny we're Wearing it today for this um as complain PL swelled local officials brought the Concerns to the site's operator over the Summer the company agreed to construct a 24t sound barrier wall on one end of the Property at a cost of 1 to2 million but While the wall reduced sound in some Areas it actually Amplified it in others So obviously they're going to have to

Figure that out and that's going to be Sanctioning surrounding the city and Where they can build residential Property Etc shley says that he is Monitoring the deciel levels of the Facility Texas State lost stipulates That noise is considered unreasonable if It exceeds 85 DB for comparison vacuum Cleaners often run at around 75 DB and a Cardiologist told time in 2018 that Chronic exposure to anything over 60 DB Had the potential to do harm to the Cardiovascular system shadon took her Own readings at her house near the Bitcoin mining facility that reached 103 DB obviously that's a problem that needs To be resolved but the maximum penalty For breaking the Tex law is a $500 fine So the state law is inadequate he says That has been talking to the court uh The county attorney's office about opin Options for recourse if we have repeated Violation problems he will look into Potential injective relief he says the Community's ey boiled over at a town Hall on January 29th hosted by Shirley And Hood County Commissioner nanet Samelson about 75 people filled the room To complain about the facility Complaints from the attendees included Migraines that required trips to the Emergency room and a vertigo diagnosis One attendee said she had been forced to Put her Chihuahua on seizure

Medication stop Stop Stop the poraa Bro I can't dude I can't take that Seriously Man oh that poor [Laughter] Chihuahua Oh while the const noise has become a Major irritant in the County residents Also worry about the facility's impact On their power supply which I said is a Mute point I'm not even going to argue This anymore I'm so tired of it in fact They're probably actually benefiting From it at this point because we have Seen direct benefits over the past year So you know that's just you know the way It is it it is what it is now there are Areas that I'm looking at in Texas where The city actually has ordinances against Cryptocurrency mining within the city Limits this is something that's been Going across Texas for quite some time I Don't have a problem with it right you Find something outside of the county I Think I'm 45 minutes outside of it right Now where I'm looking is a couple hours Outside of it outside of the City Limits Um and so you know at the end of the day There is all that that you can take into Account we can be more responsible as Miners and look for those types of Things the fact is it's typically

Cheaper as well outside of City Limits And you have to deal with less uh it's Easier to build out power outside of City Limits all that sort of thing so I Think this will correct itself this is a Self-correcting problem at the end of The day I really do believe um it goes On to really harp on this so they do Have a correction at the end that say a Previous version of this story misstated When the Wolf Hollow 2 PL power plant Failed it failed in 2021 and it did H it Did not fail during a 2011 storm though A separate but nearby plant W Wolf Hollow one did the story also M Mischaracterized how the Texas grid Performed in mid January some Individuals lost power but the grid held Up which obviously that is something That's important to note and I don't Know when this particular facility was Stood up either um that would be Something that I would be interested in It was bought when was it bought I think It was bought in 22 I don't think this Facility was even stood Up by Then for the winter storm that is so Those are a couple things to look at but I would assume at the end of the day a Lot of these articles are going to Become more and more uh prevalent Surrounding the industry that is because I think at the end of the day too we're

Starting to see that Bitcoin really does Pose a threat to the current regime and That is just a fact of the matter we can Talk about it more on son of a tech. Locals.com where I am able to talk about This stuff more freely but suffice to Say expect more of this but understand That with great power comes great Responsibility and Bitcoin is a great Power now you guys mind during the bare Market you made it through well at least Maybe a half of you I know a lot of you over here didn't actually Do it but the ones that did I have a new Shirt for you guys and it says I'm mind With the Bears for the bear Market okay So if you mind with the Bears and you Want to rep that you did mine during the Bar Market go ahead and head on over to Shop.on ofate tech.com and the listing Will be down below I'll put it in live Chat right now I have a sweatshirt There's a sticker if you'd rather have a Sticker t-shirt premium shirt all that Co cool stuff um really like the new Shirt I ordered a few for myself and I Just had that design finished this week Eventually it'll be under on the YouTube Channel but that takes a little bit of Time so just give it some time uh Proceeds of course go to supporting me In the channel so there you go and I Thought uh we put some work into it and I thought you guys might enjoy

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