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r/lostgeneration
r/lostgeneration
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Crossposted by2 months ago

Texas pays crypto-bros $9.5 million to pause their mining rigs that uses more electricity than the entire consumer output

Posted by2 months ago
r/awfuleverything - Texas pays crypto-bros $9.5 million to pause their mining rigs that uses more electricity than the entire consumer output
536 points
140 comments
99% Upvoted
level 1
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Vote
level 1

The same people who decry government spending...hmmmmm...

521
level 2

It's only bad when it's spent on poor people and black people.

332
level 1

So Governor Abbott welcomed bitcoin miners to use up even more of Texas electricity than we would have without 'em, then he pays them $9.5 million to say "Pretty please, stop it!"

Once again, just a friendly reminder from January, he brought these miners into Texas:

The idea is that the miners’ computer arrays would demand so much electricity that someone would come along to build more power plants, something Texas badly needs.

This is our asshole governor, making things worse for Texas. Remember to vote, people.

268
level 2

That doesn't even make sense in their trickle down cuckoo land because the energy companies there were able to surcharge residents based on limited demand.

So it actually benefits them to not meet demand.

116
level 2

Or you could, you know, incentivize building power plants, but that doesn’t make random internet turds rich

Who does Greg Abbott know in bitcoin mining?

28
level 2

The free market will solve any problem dont'cha know

17
level 2

“Dur Dur What good does voting do, they’re all the same! Dur Dur!” /s

11
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They would rather pay crypto Bros than fund their state education system

103
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The reasoning is clear, they can manipulate an uneducated populace. I can't stand to see history repeated like this but it's the same all the way down through the years

40
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I’m not saying I called it… But I fucking called it.

247
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· 2 mo. ago · edited 2 mo. ago

I had an argument with crypto shill in R/ fuckgregabbott that went on for hours in a post about how old Greg wanted to subsidize this shit, and my comment on how this would happen AND it would be worse for the enviroment... Surprise! Guess who was right? Almost like money making schemes are bad for everyone...

Edit for everyone asking: No I didn't go back and tell them "I told you so." And I'm probably not going to, I'm not going to reignite an internet argument from 6 months ago lol. This is satisfaction enough.

177
level 2

So you're saying you called it? But yeah the writing has been on the wall this entire time with crypto. Literally just wastes energy for no purpose

17
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Imagine if they just put money into their own infrastructure! Well, at least we can dispel the whole ‘states controlling things is better than feds’ argument.

Texas, the living embodiment of states rights and their failures.

159
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SNOW DONT BURN

18
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Oh no the system is working exactly as they intended. Just like that comma after dearest, it's all part of the plan.

1
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Sliding scale payment should be enforced

Individuals pay increasing rates the more resources they use, not less. These rates are then divided by the portion of the population utilizing the services eating up the resources. (Grocery stores serve tons of people so they pay less/unit. Crypto miners serve individuals so they pay more/unit.)

This would definitely push groups to use utilities more efficiently and in ways that serve larger portions of the community

147
level 2

That's not how corruption works though! Those that are friends of the government and billionaires get to use all the energy they want, everyone else can eat shit

18
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If they banned mining to free up energy for the people they would be communist like China. We can't have communism in Texas.

33
level 2

Communism is when government pays for things but this different

16