Bitcoin Miners Tap Hydropower as Environmental Criticism Grows | WSJ

Поділитися
Вставка
  • Опубліковано 13 жов 2021
  • A bitcoin mining facility in upstate New York is using electricity from a local hydroelectric plant powered by the Niagara River. The company is part of a group of miners attempting to make the industry more sustainable, both environmentally and financially. Illustration: Alex Kuzoian/WSJ
    More from the Wall Street Journal:
    Visit WSJ.com: www.wsj.com
    Visit the WSJ Video Center: wsj.com/video
    On Facebook: / videos
    On Twitter: / wsj
    On Snapchat: on.wsj.com/2ratjSM
    #Crypto #Bitcoin #WSJ

КОМЕНТАРІ • 282

  • @artuselias
    @artuselias 2 роки тому +67

    It doesn't matter if you buy energy from a fossil or low-carbon power plant. It's still a waste of energy, and that additionally consumed energy has to be supplied by fossil power plants.

    • @halo2pro9
      @halo2pro9 2 роки тому +8

      who are you to decide what is a waste of energy?

    • @stuharris8526
      @stuharris8526 2 роки тому +2

      The alternative is physical gold which also requires a lot of energy and results in physical damage to the environment. Take your pick.

    • @Tokamak3.1415
      @Tokamak3.1415 2 роки тому +1

      So transporting $20 bills back and forth from banks using an armored truck and 3 armed guards is environmentally responsible but moving money through the blockchain is not? At least Bitcoin is transparent. Watching the federal government fudge numbers over and over and lose tax-payer funds is comedy gold.

    • @tomo1168
      @tomo1168 2 роки тому +2

      @@stuharris8526 nobody needs gold or bitcoin to live a good life. both are a wate of ressources and trashing the environment.

    • @veduci22
      @veduci22 2 роки тому

      @@Tokamak3.1415 How is Bitcoin transparent? The crypto exchanges and stablecoins like Tether are shady af... The whole crypto ecosystem is full of scammers thanks to very little regulatory supervision.

  • @jasonlin6641
    @jasonlin6641 2 роки тому +32

    That’s just taking the overall capacity away from the grid. Power that would usually used to power homes and businesses now has to switch to another source, mostly likely from fossil fuel. Treat the disease not the symptoms

  • @johngreene4436
    @johngreene4436 2 роки тому +53

    *Greenwashing* is the process of conveying a false impression or providing misleading information about how a company's products are more environmentally sound.

    • @nicolaslemay
      @nicolaslemay 2 роки тому +5

      Exact. This report is silly since hydro power is limited, so all the energy used by this facility is diverting energy that need to be create else where, probably from fossil fuel.

    • @ShashotoANur
      @ShashotoANur 2 роки тому +1

      @@nicolaslemay that's why, not just bitcoin miners but all of us need to move away from fossils.

  • @jesiccaleo3259
    @jesiccaleo3259 2 роки тому +112

    Mrs Jane is legit and her method works like magic I keep on earning every single week with her new strategy?

    • @sonialon9187
      @sonialon9187 2 роки тому

      Wow I' m just shock someone mentioned expert Mrs Jane I thought I' m the only one trading with her

    • @sonialon9187
      @sonialon9187 2 роки тому

      She helped me recover what I lost trying to trade my self

    • @franklynedwardsedwards9957
      @franklynedwardsedwards9957 2 роки тому

      I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Jane

    • @franklynedwardsedwards9957
      @franklynedwardsedwards9957 2 роки тому

      I think she is the best broker I ever seen

    • @franklynalbert641
      @franklynalbert641 2 роки тому

      Thanks for introducing me to Mrs Jane

  • @CalienteFrijoles
    @CalienteFrijoles 2 роки тому +8

    I suppose this means that investments in expanding hydropower or at the very least some other renewables can grow. The residential demand is still there after all.

  • @ssshukla26
    @ssshukla26 2 роки тому +5

    How using more energy from hydropower make it carbon neutral. The energy needed by other industries will then use non-renewable sources. It's like someone using hydropower generated using coal power. This is greenwashing.

  • @johnl.7754
    @johnl.7754 2 роки тому +11

    Unless they create their own renewal energy (ie build a solar/wind farm) otherwise it makes no difference since there’s a limited amount of renewal energy so if they use it then the utilities will purchase it from other non renewal sources as power is needed by general public.

    • @mohan494
      @mohan494 2 роки тому +1

      exactly, It makes no difference, they have to create their own renewable energy source not the public once

  • @Grilled_cheezus
    @Grilled_cheezus 2 роки тому +9

    Well now that we know where it is, let's get in there and get those GPU's!

  • @paxdriver
    @paxdriver 2 роки тому +1

    Why not use the waste heat to power a pyroelectric generator as well? Make the generator cool the air? It'd trickle a bit more charge/min, or run the server fans or CO2 scrubbers or whatever.

  • @metagde6402
    @metagde6402 2 роки тому +3

    These guys are literally wasting precious electricity
    Using fossil fuel power wasnt really problem
    USING POWER IS THE PROBLEM

  • @AmericanAntiCorruptionAct
    @AmericanAntiCorruptionAct 2 роки тому +2

    No one criticizes the fossil fuel industry. Stop blaming consumers and blame producers.

  • @charliejames5465
    @charliejames5465 2 роки тому +13

    I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.

    • @Kennedy686
      @Kennedy686 2 роки тому

      Investing in stocks is a good idea, a good trading system would put you through many days of success.

    • @ameliaisla3141
      @ameliaisla3141 2 роки тому

      It is possible to produce superior performance provided you do something different from the majority. However most of us tend to pay more

    • @jasmineitzen8228
      @jasmineitzen8228 2 роки тому

      Having monitored my portfolio performance which has made a jaw dropping $370k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.

    • @ralphvincent6559
      @ralphvincent6559 2 роки тому

      Interesting. I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?

    • @miaava627
      @miaava627 2 роки тому

      @@ameliaisla3141 Exactly, the trick is to
      diversify your investment, don't panic when everyone else is and invest consistently.

  • @ArthursHD
    @ArthursHD 2 роки тому +1

    Would like for all countries to out law or limit power consumption of Proof of Work. But it should be planned phase out within 2ish years. If it would be like 250w per individual and 1kw if the waste heat would be used and the unit could price track/ balance the grid or run as a dumpload for an off grid system.

  • @floridaman7
    @floridaman7 2 роки тому +12

    Why are we tying money to electricity. Shouldnt that be used to power something else.

    • @sunsetlights100
      @sunsetlights100 2 роки тому +1

      They seem to be gaining the green credential from a power station already built!

  • @alexandrasvdavis
    @alexandrasvdavis 2 роки тому

    Really enjoyed this - thanks!

  • @MG-yp1zw
    @MG-yp1zw 2 роки тому +2

    these comments are hilarious. We are so early. #buybitcoin

  • @john-gb6cc
    @john-gb6cc 2 роки тому +4

    so use renewable energy for mining instead of the towns nearby

    • @vBrolin
      @vBrolin 2 роки тому

      Yeah was just thinking the same, mining energy usage is still energy from the same grid regardless where you put it. Either it's close to something environmentaly bad and uses that while someone else uses hydro, or you move that around, it's still the same energy producing mix

  • @played7946
    @played7946 2 роки тому +10

    Renewable energy should not be wasted on mining bitcoin. Use that energy for a better use

    • @plasticman2011
      @plasticman2011 2 роки тому

      If there was a better use, then they would come and pay a better price than the miners. Miners want the cheapest energy, so that means going to sources that don't have better uses for that energy.

  • @oscaryuen311
    @oscaryuen311 2 роки тому +4

    the problem is you are using energy unproductively instead of allowing household users use that clean energy

    • @plasticman2011
      @plasticman2011 2 роки тому

      If the source of the hydro electric is too far away from dense population centers, it is idiotically uneconomical to get the electricity there. Now instead of being wasted, the electricity is providing billions of people a system that allows them to escape and bypass the corrupt financial institutions globally.

  • @ColeMorton123
    @ColeMorton123 2 роки тому +3

    It's hard to penetrate media bias with statements like "burns huge amounts of energy" instead of "converts huge amounts of electrical energy into monetary energy".

  • @alparslankorkmaz2964
    @alparslankorkmaz2964 2 роки тому +1

    Nice video.

  • @miztx2syuiip590
    @miztx2syuiip590 2 роки тому

    Wow! Amazing!

  • @aarononeal9830
    @aarononeal9830 2 роки тому

    The wall street journal needs to talk about ecosia they are a search engine that plants trees!!!!!

  • @PyThomaz
    @PyThomaz 2 роки тому +7

    Power a home with renewable energy? Nah, lets use several homes worth of energy per second to make a few decentralized transactions and call it green. Also, we want to call waterfall powerplants decentralized. Also... don't look into bitcoin mining asic manufactures, we want to keep our decentralized image.

    • @plasticman2011
      @plasticman2011 2 роки тому +1

      If there aren't many homes nearby, it would be idiotically uneconomical to try to send the electricity to homes far away. Miners are going to be geographically distributed to seek out the cheapest energy sources globally. Over a hundred million people are using Bitcoin to escape and bypass corrupt financial institutions and governments, are you the type of person who would deny that to them just to feel good about yourself?

    • @PyThomaz
      @PyThomaz 2 роки тому

      @@plasticman2011 Your comment starts with "if..." so I'll infer you are imagining situations where your comment makes sense. I like to encourage dreamers. Do some napkin math and push your ideas.

  • @birgirkarl
    @birgirkarl 2 роки тому +1

    Welcome to the Twilight section of every single video on YT that mentions bitcoin. The comments here are eerie!

  • @5414vivek
    @5414vivek 2 роки тому +3

    Can anyone help me understand what value bitcoin provide to the society that it's so valuable and why are people are so enthusiastic about it?

    • @Fintechno
      @Fintechno 2 роки тому +4

      It’s the hardest money known to man, akin to synthetic gold. Do your own research, come to your own conclusions.

    • @iwrotethis4712
      @iwrotethis4712 2 роки тому +1

      Your government can't just F around and decide to tax it

    • @wolf-yw9wk
      @wolf-yw9wk 2 роки тому +4

      hard money. not tied to any one source. if you don't understand why that is extremely valuable then read more onto how monetary systems work and it will make more sense. its far too much to gt into over a comment section on youtube.

    • @taiyipan3138
      @taiyipan3138 2 роки тому +1

      you can send it to anyone in the world securely in minutes. it keeps its value since it's deflationary, unlike fiat money which constantly loses its value. do you not see its value?

    • @gilberttorres8
      @gilberttorres8 2 роки тому

      Btw it’s mostly used by criminals to hide from illegal activities.

  • @auro1986
    @auro1986 2 роки тому

    then a dam will be built there to power that bitcoin mine?

  • @SunnyMaroju
    @SunnyMaroju 2 роки тому +1

    Why the F there are more spam comments than something worth reading?

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      Probably the same reason people invest in bitcoin

  • @Strahst
    @Strahst 2 роки тому +3

    They are stil using power that could be used for something better. Why all crypto dosent move to Proof of Stake?!?!

    • @jherc12990
      @jherc12990 2 роки тому +2

      and into the pockets of the central founders - how convenient

  • @TheKikoman80
    @TheKikoman80 2 роки тому

    What about the heat that the mining rigs generate? A lot of hot air is blown out of these facilities and dissipates into the atmosphere.

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      Similar to most politicians and CEOs

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      Studies conducted by Qanon have shown that Tucker Calrson and Jeanine Pirro are independently responsible for .5 degree of global warming simply by raising the ire of normal sentient beings which creates heat and is released into the atmosphere.

  • @zigzag9052
    @zigzag9052 2 роки тому

    Bit coin or BOTcoin Instead of using clean energy sources for manufacturing and any other creative purposes, thousands of computers uselessly calculate numbers that self-complicate themselves every time . in That logic BitCoin price and , oilgaz price needs to be 10000 dollars !

  • @miztx2syuiip590
    @miztx2syuiip590 2 роки тому

    When innovation goes too far

  • @koolflows7581
    @koolflows7581 2 роки тому

    interesting

  • @1jh963
    @1jh963 2 роки тому

    The first carbon emissions when you make that device

  • @curiouspeople6441
    @curiouspeople6441 2 роки тому

    POW is old school , POS is the future

  • @ps3301
    @ps3301 2 роки тому +1

    Bitcoin is destroying the environment if price continues to rise. Human greed has no bound.

  • @mythbusterUSA
    @mythbusterUSA 2 роки тому +14

    There's opportunity cost of diverting hydropower from industry and residential to cryptocurrency. Cryptocurrency was, is and will never become environment friendly

    • @Sulfen
      @Sulfen 2 роки тому +1

      The industry is turning to proof of stake which consigned only a tiny fraction of proof of work.

    • @PyThomaz
      @PyThomaz 2 роки тому

      Refine your comment with "PoW"... the rest I agree

  • @desdearb
    @desdearb 2 роки тому

    Hi real human here, what your about to see in the comment section is cursed and extremely cringe by default. Please erase this video from your watch history and forget everything about this. Pls

  • @AlgoNudger
    @AlgoNudger 2 роки тому

    They should use fission. 😂

    • @birgirkarl
      @birgirkarl 2 роки тому

      Exactly - people have to lay off this fear-mongering of nuclear energy.

    • @AlgoNudger
      @AlgoNudger 2 роки тому

      @@birgirkarl 1000% agree

  • @austintryspecialworldhacke9389
    @austintryspecialworldhacke9389 2 роки тому +2

    ☝🏻☝🏻☝🏻☝🏻
    MANY COMMENT AND LIKES BY SCAMMERS ON UA-cam NOT UNTIL I WAS RECOMMEND TO THIS GUYS BEHOLD I AM PROUD I MET HIM

  • @Rohitte007
    @Rohitte007 2 роки тому

    Waah Pandey ji Gajab👏👏👏

  • @jeremysanchez5545
    @jeremysanchez5545 2 роки тому +8

    So while crisis come's up .Bitcoin climbs lol 😆 Now i say crypto is better than stock investing in crypto should be in every wise individual to do list .

    • @CarolPLopez-qh9qj
      @CarolPLopez-qh9qj 2 роки тому

      Recently, I invested in both stock and
      crypto but currently i believe crypto is doing more better !!

    • @jacobasher4932
      @jacobasher4932 2 роки тому

      The best thing to do in this period is to buy silver and crypto

    • @ameriajane9069
      @ameriajane9069 2 роки тому

      The Rich become richer by spending like the poor and investing Non stop,While the poor stay poor by spending like the rich yet not making any investment.

    • @dagnyattkisson5956
      @dagnyattkisson5956 2 роки тому

      @@@@@@ Most intelligent words I've heard today

    • @harleylewiston8255
      @harleylewiston8255 2 роки тому

      Crypto is the future

  • @Patricia-fn9kp
    @Patricia-fn9kp 2 роки тому

    BTC for $75K by end of this year& Control
    of The Currency is already Decentralised And now the China disruption would simply
    Decentralise the Mining setup for the better

  • @1jh963
    @1jh963 2 роки тому

    The way to make money is to scam electricity from utilities

  • @stanleypack9217
    @stanleypack9217 2 роки тому +3

    I will really like more details on this, I'm new to trading and I don't understand how it really works. Can someone guide me on the right | approach to investing and making good profit from trading?

    • @clarajefferson8147
      @clarajefferson8147 2 роки тому

      How can someone know a professional trader that is trustworthy when legit ones are hard to find these days

    • @dominicmatthew2171
      @dominicmatthew2171 2 роки тому

      I am working with Lisa Winters now. My wife introduced me to her some time ago and that's was after I was scammed by fake experts She was really helpful. She has generated 3times what I lost. I get paid $ 15,000 dollars every week

    • @josephray6237
      @josephray6237 2 роки тому

      I got in touch with Lisa after attending one of her coaching programs few years ago She's really been a great mentor and excellent trader with an excellent service.

    • @oliviaraymond7961
      @oliviaraymond7961 2 роки тому

      This sounds good. How do I get to her, I will like to build my portfolio

    • @oliviaraymond7961
      @oliviaraymond7961 2 роки тому

      @Ray Weiss Thank you so much .
      I know she is probably inundated with messages.
      I will send her a message just to introduce myself and to let you know that I am interested in her services in regards to investing.

  • @adamsjeff5578
    @adamsjeff5578 2 роки тому +32

    I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADING...I THOUGHT TRADING DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVISE ME ON WHAT TO DO?

    • @henrystephen6667
      @henrystephen6667 2 роки тому

      Venturing into trading world without the help of a professional trader and expecting profit is like turning water into wine lol... You would need a miracle, that's why I started my trade with expert Mrs Linda fx

    • @tylerwilly9690
      @tylerwilly9690 2 роки тому

      @@henrystephen6667 That's true most people today have been having a lot of failure in fx and crypto sector because of had orientation and bad expert

    • @julianlilly1199
      @julianlilly1199 2 роки тому

      @@tylerwilly9690 I lost £1200 carelessly trading on my own then I was referred to Mrs Linda she recovered the lost and make an extra profit for me

    • @elizabethlilian954
      @elizabethlilian954 2 роки тому

      @@julianlilly1199 Wow it's great to see other's who also benefits from the service of Mrs Linda I'm currently on my 5th trade with her and it's a nice experience.

    • @brooklynluna5784
      @brooklynluna5784 2 роки тому

      I'm shock you all mentioned and recommended expert Mrs Linda I thought I'm the only one working with her.

  • @EvgeniyKozin
    @EvgeniyKozin 2 роки тому +1

    Это сюр какой-то. Вместо того, чтобы использовать чистые источники энергии для производства и любых других созидательных целей, тысячи компьютеров бессмысленно вычисляют цифры, которые сами самоусложняются каждый раз.

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      What he said! Or not. I'd ask for translation but not planning to return here.

  • @douglasforeman8627
    @douglasforeman8627 2 роки тому

    Ny like my stuff. We'll see. Oh oh.

  • @derricke.williams9489
    @derricke.williams9489 2 роки тому

    This pandemic would have been a tragedy if not of the help of 👆 they the best ! Thanks me later

  • @birgirkarl
    @birgirkarl 2 роки тому +2

    How is this an interesting news story?

    • @muskduh
      @muskduh 2 роки тому

      because they said so lol

  • @savannahm.laurentian1286
    @savannahm.laurentian1286 2 роки тому

    I don't think the white man will ever talk about a sustainable way of life. Only about what energy source to exploit. Of all the things we need and can have sustainably, Bitcoin is not one of them.

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      White men aren't the only idiots. But I'll grant we are a vast majority. That leaves plenty of room for boneheads of all colors.

  • @RockandBox
    @RockandBox 2 роки тому

    Bitcoin being environmentally sound (ESG compliant) is a good step forward. Now that the E is taken care of (almost), the S (Social) must be considered. Cripto is the way for narcos and gun trader to move large sums of money. Every cripto owner is the insurer of those narcos transactions. That is an huge ethical issue.

  • @antonleimbach648
    @antonleimbach648 2 роки тому +1

    Bitcoin is far greener than the majority of assets on the S&P 500. The face is than Wall Street could learn plenty from Bitcoin on how to go green. What have they been so slow? They have had decades but hardly have done anything.

  • @FUNKYFRESH707
    @FUNKYFRESH707 2 роки тому +4

    Bitcoin was meant to be peer to peer currency not rich corporate digital Manhattan property, and mining won't last in a new green economy

  • @derricke.williams9489
    @derricke.williams9489 2 роки тому

    Special thanks to 👆 for the payment was successful I just received it now

  • @mateuspado
    @mateuspado 2 роки тому +2

    For a WSJ source, this video is so basic

  • @williamsfox7643
    @williamsfox7643 2 роки тому +1

    Bitcoin trying to break through the last level of resistance. once we're above $60K,be ready to see some real FOMO price action. also, weekly RSI currently at 63.51. We want it above 65. let's get it bull

    • @EhteshamShahzad
      @EhteshamShahzad 2 роки тому +1

      Lol

    • @williamsfox7643
      @williamsfox7643 2 роки тому

      tele williamsmasion to understand more and make a profit on bitcoin and Eth

    • @williamsfox7643
      @williamsfox7643 2 роки тому

      @@EhteshamShahzad tele williamsmasion to understand more and make a profit on bitcoin and Eth

  • @Techcharlet.4all
    @Techcharlet.4all 2 роки тому

    Who else want to earn?👆👆 only daily earner👆👆

  • @michaelreyes0026
    @michaelreyes0026 2 роки тому +3

    or just switch to Cardano or ETH 2.0 for the proof of stake. :)

    • @heydude696969
      @heydude696969 2 роки тому

      Nah, you can keep your scam coins.

  • @FerallHog
    @FerallHog 2 роки тому

    What kind of power do the wall street journal buildings and newspaper factories us to power their operations? Hydro? Solar? Coal?

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      Mostly just hot air

  • @Williams_____y
    @Williams_____y 2 роки тому +1

    Thanks sir 👆👆I’m happy I never regret dealing with you now in my blockchain bitcoin wallet I now have *9btc* completely you are the *best*

  • @964tractorboy
    @964tractorboy 2 роки тому +1

    I'd like to see all Bitcoin mining banned. And ban all the Bitcoin ads in the "comments" below; WSJ should delete them.

    • @plasticman2011
      @plasticman2011 2 роки тому +1

      China has done all that, you would probably like to go live there.

    • @964tractorboy
      @964tractorboy 2 роки тому

      Thanks for the tip.

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому +1

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      dolly punch drunk, me thinks

  • @austintryspecialworldhacke9389
    @austintryspecialworldhacke9389 2 роки тому +2

    ☝🏻☝🏻☝🏻☝🏻
    MANY COMMENT AND LIKES BY SCAMMERS ON UA-cam NOT UNTIL I WAS RECOMMEND TO THIS GUYS BEHOLD I AM PROUD I MET HIM

  • @derricke.williams9489
    @derricke.williams9489 2 роки тому

    This pandemic would have been a tragedy if not of the help of 👆 they the best ! Thanks me later

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому +1

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому +1

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому +1

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому +1

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

  • @dollypunchludrickontelegra1429
    @dollypunchludrickontelegra1429 2 роки тому

    *☝️☝️☝️If the word has a person like the world would have been a battle place to thank them they really changed my life completely✅*

    • @NatmaiNaim
      @NatmaiNaim 11 місяців тому

      Oh I get it...chat gpt on LSD, right?