They can mine Bitcoin silently or publicly announce it to their citizens and the world. Bitcoin does not need government mining to be used because it has a very decentralized network globally. Bitcoin does not need legal tender to be transacted and used by the people.
I see the news in a way that it might help Bitcoin more easily to be approved and accepted by laws. It's a good support activity to bring Bitcoin to legal tender, at least in that city or state. Wider scale, from national to global, it takes time.
In the meantime, you can enjoy freedom with Bitcoin and its decentralized network.
Topic: Fort Worth Becomes First City to Mine Bitcoin - page 2. (Read 333 times)
Is that double standard or are people not understanding what the news is saying?
It is the government that is running this mining program. Do we really want the governments start mining bitcoin and amass hashrate? I don't think anybody in bitcoin world wants that! Or maybe to some people, US government is an exception
in that case think of it as maybe Russian or Chinese government start doing this next.
It is the government that is running this mining program. Do we really want the governments start mining bitcoin and amass hashrate? I don't think anybody in bitcoin world wants that! Or maybe to some people, US government is an exception
in that case think of it as maybe Russian or Chinese government start doing this next.Actually it's not so much unexpected for governments actually mine Bitcoin, just I expected this happen much later, when they have exposure (reserves) in bitcoin.
While I agree it's not a great news on long term, it's still a very small move, which, for now, can increase the trust of average Joe in Bitcoin (which, as already happened, can be seen as good). I would be more scared if they (also) start using their own mining pools where they can filter out unwanted transactions.
So, yeah, I have mixed feelings. I think that it's, unfortunately, quite a normal move, after all.
But generally not a bad news as being the first city to do so
Is that double standard or are people not understanding what the news is saying?It is the government that is running this mining program. Do we really want the governments start mining bitcoin and amass hashrate? I don't think anybody in bitcoin world wants that! Or maybe to some people, US government is an exception
in that case think of it as maybe Russian or Chinese government start doing this next. 
3 x s9
are you kidding me
such a small gimmick it shouldnt even be news worthy
there are dozens of texas residents with more then that per household each, that have been running for years
donating a outdated crappy inefficient ASIC from 4 years ago is not what i would call doing texas any favours, nor news worthy.
at lets say $0.12/kwh electric(standard average residential rate in texas) per asic. ($0.36 for three) meaning $8.64 a day in electric costs. those 3 s9's are only mine about ~600sats($7.20) thus the 'council' are losing the state $1.44 a day in costs
are you kidding me
such a small gimmick it shouldnt even be news worthy
there are dozens of texas residents with more then that per household each, that have been running for years
donating a outdated crappy inefficient ASIC from 4 years ago is not what i would call doing texas any favours, nor news worthy.
at lets say $0.12/kwh electric(standard average residential rate in texas) per asic. ($0.36 for three) meaning $8.64 a day in electric costs. those 3 s9's are only mine about ~600sats($7.20) thus the 'council' are losing the state $1.44 a day in costs
But generally not a bad news as being the first city to do so, I believe from this starting point they will find other more efficient way
or machines of improving their mining.
Imagine if other cities buys this idea and begins their own mining and use more efficient machines to mine, so generally the news coming out still have a significant role it will play for Bitcoin.
3 x s9
are you kidding me
such a small gimmick it shouldnt even be news worthy
there are dozens of texas residents with more then that per household each, that have been running for years
donating a outdated crappy inefficient ASIC from 4 years ago is not what i would call doing texas any favours, nor news worthy.
at lets say $0.12/kwh electric(standard average residential rate in texas) per asic. ($0.36 for three) meaning $8.64 a day in electric costs. those 3 s9's are only mine about ~600sats($7.20) thus the 'council' are losing the state $1.44 a day in costs
are you kidding me
such a small gimmick it shouldnt even be news worthy
there are dozens of texas residents with more then that per household each, that have been running for years
donating a outdated crappy inefficient ASIC from 4 years ago is not what i would call doing texas any favours, nor news worthy.
at lets say $0.12/kwh electric(standard average residential rate in texas) per asic. ($0.36 for three) meaning $8.64 a day in electric costs. those 3 s9's are only mine about ~600sats($7.20) thus the 'council' are losing the state $1.44 a day in costs
The city of Fort Worth, Texas, says it will start mining bitcoin on Tuesday, potentially becoming the first US city to do so, city authorities said.
The Texas Blockchain Council, a nonprofit association made up of companies and individuals that work in the blockchain industry, donated three Bitmain s9 bitcoin mining machines to Fort Worth, enabling the city to launch what it calls “a mining pilot program.
Beginning Tuesday afternoon, machines will run 24/7 in the information technology solutions department data center located at Fort Worth City Hall. The machines will be housed on a private network to minimize security risk, city authorities said.
“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city,” Fort Worth Mayor Mattie Parker said. “Today, with the support and partnership of [the] Texas Blockchain Council, we’re stepping into that world on a small scale while sending a big message — Fort Worth is where the future begins.”
Texas, with its cheap energy and favorable regulations, has become a hotspot for miners in recent months. Seven large mining companies and 20 smaller ones are currently based in the state, according to data from the Texas Blockchain Council.
“Many politicians in Texas are starting to see the benefits bitcoin mining can bring, be those from tax revenue, job creation, or grid stabilizing.”
This will enhance more local governments to delve into Bitcoin mining, hopefully the bill to ban Crypto Currency mining by New York legislators won't be a drawback. Let's hope for better news ahead.
Source link: https://blockworks.co/fort-worth-becomes-first-city-to-mine-bitcoin/
The Texas Blockchain Council, a nonprofit association made up of companies and individuals that work in the blockchain industry, donated three Bitmain s9 bitcoin mining machines to Fort Worth, enabling the city to launch what it calls “a mining pilot program.
Beginning Tuesday afternoon, machines will run 24/7 in the information technology solutions department data center located at Fort Worth City Hall. The machines will be housed on a private network to minimize security risk, city authorities said.
“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city,” Fort Worth Mayor Mattie Parker said. “Today, with the support and partnership of [the] Texas Blockchain Council, we’re stepping into that world on a small scale while sending a big message — Fort Worth is where the future begins.”
Texas, with its cheap energy and favorable regulations, has become a hotspot for miners in recent months. Seven large mining companies and 20 smaller ones are currently based in the state, according to data from the Texas Blockchain Council.
“Many politicians in Texas are starting to see the benefits bitcoin mining can bring, be those from tax revenue, job creation, or grid stabilizing.”
This will enhance more local governments to delve into Bitcoin mining, hopefully the bill to ban Crypto Currency mining by New York legislators won't be a drawback. Let's hope for better news ahead.
Source link: https://blockworks.co/fort-worth-becomes-first-city-to-mine-bitcoin/
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