Topic: Good News Entrepreneurs: Plattsburgh Finally Lifts its Ban on Crypto Mining - page 2. (Read 279 times)
March 01, 2019, 03:55:17 PM
I'm not expecting there to be a sudden influx of miners though. It's New York State after all. I don't live in the US but as far as I know it's a close second to Hawaii in electricity cost. Anyone trying to building a mine would probably go to other states with cheaper electricity, like Idaho.
March 01, 2019, 10:41:19 AM
As far as I know, it's no longer profitable to mine bitcoin at this point, I mean the return of profit (ROI) is not that good when the price of bitcoin is $6000-$6500 so I'm sure miner will take this in consideration whether to continue or not in that area.
The potential profit is definitely a lot lower, but bitcoin mining is definitely still profitable for some. If it wasn't profitable for every single one, then no one would be mining. Probably 99% or a huge percentage of miners are mining solely due to monetary purposes. I'm pretty sure only a very small number of people would be willing to mine bitcoin at a loss just to help the network.
March 01, 2019, 09:56:55 AM
As far as I know, it's no longer profitable to mine bitcoin at this point, I mean the return of profit (ROI) is not that good when the price of bitcoin is $6000-$6500 so I'm sure miner will take this in consideration whether to continue or not in that area.
Overall, this is a welcoming news but its going to be difficult to assess the impact on the price, if ever there is one. So probably just a couple of 'resident miners', but if there's a huge influx? I doubt it will happen.
Overall, this is a welcoming news but its going to be difficult to assess the impact on the price, if ever there is one. So probably just a couple of 'resident miners', but if there's a huge influx? I doubt it will happen.
March 01, 2019, 09:52:32 AM
do you think miners will take advantage of this situation and go full mining on that city again?
Un-ban mining does not mean that mining will be allowed and Miners from all over the world will come for mining in that city.It means that mining is allowed in that city, but unless there are more advantages, the news will not make any difference.
In general, the news is good but we will not see any effect.
Will the old miners return? No, I do not think so, especially with low mining profits.
March 01, 2019, 09:11:04 AM
So let's see if this will bring a influx on miners on that city, do you think miners will take advantage of this situation and go full mining on that city again?
"Influx"... Might happen if the electricity on Pittsburgh is worth using for mining purposes... But not in an "Influx" way. Little by little maybe. It's also a positive or good news. Big impact, as New York is model of tough crypto regulation as they say. More or less let's see what comes next.
March 01, 2019, 05:48:10 AM
USA is a strange country. Not only each state can have its own laws, even a city can ban things that are legal in all other cities.
Finally they realized how stupit that ban was. I don't think many people will start mining now just because of this ban lift. It's barely profitable at the moment so I wouldn't start now, except if I had cheap electricity - for example from my own solar panels.
Finally they realized how stupit that ban was. I don't think many people will start mining now just because of this ban lift. It's barely profitable at the moment so I wouldn't start now, except if I had cheap electricity - for example from my own solar panels.
March 01, 2019, 02:09:43 AM
Last year, Plattsburgh has become the first city in the US to ban cryptocurrency mining,
https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-york-ban-cryptocurrency-mining
However, the city council voted 5-1, lifting the ban.
https://www.btcwires.com/c-buzz/good-news-entrepreneurs-plattsburgh-finally-lifts-its-ban-on-crypto-mining/
So let's see if this will bring a influx on miners on that city, do you think miners will take advantage of this situation and go full mining on that city again?
Quote
Plattsburgh, New York, has become the first city in the US to ban cryptocurrency mining in the city for the next 18 months. The city council unanimously voted to impose the ban at a council meeting last night, and the mayor’s office states that the purpose of the law is to consider “regulations before commercial cryptocurrency mining operations results in irreversible change to the character and direction of the city.”
https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-york-ban-cryptocurrency-mining
However, the city council voted 5-1, lifting the ban.
Quote
Plattsburgh, NY, the first city in the US to ban cryptocurrency mining, has finally lifted its one-year-long block on crypto mining operations.
https://www.btcwires.com/c-buzz/good-news-entrepreneurs-plattsburgh-finally-lifts-its-ban-on-crypto-mining/
So let's see if this will bring a influx on miners on that city, do you think miners will take advantage of this situation and go full mining on that city again?
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