The City That Banned Bitcoin Mining



On March 15th, 2018, the city of Plattsburgh in upstate New York issued an 18-month moratorium on cryptocurrency mining.

Plattsburgh is part of a long-standing power agreement that gives the city an allotment of some of the cheapest electricity anywhere in the world, but a recent influx of cryptomining companies and their energy-draining rigs have raised power prices at the expense of the general population.


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The ban is meant to be a temporary arrangement, but it could potentially end all cryptomining investment in the city.

WATCH NEXT: CryptoHarlem is Teaching Encryption to the Over-Policed and Heavily Surveilled — https://vice.video/2EJvKlg

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The City That Banned Bitcoin Mining: 33 комментария

  • 18.04.2018 в 9:39 пп
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    In a way….those mining companies are charging the local residents money and putting it in their own pockets…while offering nothing of value in return.

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  • 18.04.2018 в 10:45 пп
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    cheap power is great. the government screwed the pouch on setting up the way they bill overages shouldn't be put on the consumer or the people using the power. seems to me that the planning commission of this town is to blame. just like others around the country who don't think ahead.

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  • 19.04.2018 в 3:03 дп
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    noone is spending bit coins at the corner store and never will. this makes zero sense , but then again its in new york the ant hill of complete dumb shit in the great country of the usa.

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  • 19.04.2018 в 5:30 дп
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    Bitcoin miners can only increase the rate for power until it is no longer profitable. So they are complaining about a very limited increase in power cost. Cheap power will attract power users. The ban will have limited and temporary effect. People will mine from their homes, and use more power as a result, just spread out so you can't identify it or stop it. Bitcoin mining is here. Can't stop it. Economic principles don't care about your hysterical attempts to control people.

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  • 19.04.2018 в 9:24 дп
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    Gotta love these cryptoknights defending mining when the clear fact is that cryptomining is huge strain on the grid and general waste of energy. Don't get me wrong there is tons of other stupid stuff that people use electricity on like ernomous amounts of xmas lights.. And don't get me wrong on what I think of the crypto currencies either, the idea of them is great, excecution not so much. Bitcoin doesn't even make the top10 of usability yet it's the #1 in value just because it's the defacto when speaking of cryptocurrencies. Bitcoin transactions are slow/expensive they consume ernomous amount of electricity compared to normal visa transactions f.ex. If that and volatility gets fixed then bitcoin could be usable if the per transaction cost won't skyrocket when traffic increases in the already clogged network. roughly 7 transactions per second as it stands now…

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  • 20.04.2018 в 12:16 дп
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    i feel like they could have at least tried to find a way to make some money off of these miners instead of an outright ban, there are some small towns which are cleaver enough to do that.

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  • 20.04.2018 в 4:22 пп
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    Are they going to block high refrigeration businesses as well? I had a frozen yogurt shop that definitely took way more power than my mining operation.

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  • 21.04.2018 в 6:45 дп
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    Extremely short sighted people in that town. Fix the billing and invest in the infrastructure and LET bitcoin mining pay for it. Duh.

    Electricity is everywhere people…everywhere! Ever heard of the SUN!

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  • 21.04.2018 в 7:38 пп
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    Any kryptocurrencies will never work because the more people use it the more electricity is used the more severe the issue gets. People should realize that all those billion dollars costing efforts to minimize environmental pollution and huge costs increases of electricity and taxation to incentivice lower power consumption are all completely negated if kryptocurrencies were actually used wide spread. The waste would be immense and already is. Also nobody has ever convincingly been able to explain me or anyone else how a completely speculative currency that fluctuates from both speculation, processing speed increases or tech advancement increasing processing power or just simply from changing electricity costs, could ever replace a much more stable fiat currencies. Fiat currencies that allow important currency regulation as well. Anyone who understands financial systems wouldn't support kryptocurrencies. Anyone who values security, the environment and some form of regulation and control wouldn't want it either. Security? Hacks, manipulation, kryptomining becoming centralized shifting all the influence and control to individuals, same time krypto bring very easily used by criminals, it just makes it a lot easier.. Try paying someone 50000€ in cash.. Immediately draws suspicion plus you can't even withdraw that much under normal circumstances, you really need to launder etc to hide your tracks, not with krypto though

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  • 22.04.2018 в 4:30 пп
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    The point is that every cryptocurrecny mining companies are not coming to town , to make it better or to invest into it , they are coming to take advantage of what people have and leave after the electricity cost went up 5x times to go to another place . I would understand that they will start building new schools , investing into the towns wealth , but 99% its opposit, they buy shity place store their computers ther , waste everyones power , get richer and leave . Amazing technology .

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  • 23.04.2018 в 5:46 дп
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    They have the right to use as much power as they are willing to pay the monthly bill for, if the town is limited in supply that's too bad for the town- fix your infrastructure or get the way you bill changed so you charge them more.. Personally I think this is a massively stupid waste of electric for nothing, all those computers running 24/7 should be used for something that benefits everyone, like finding a cure for CANCER or something!

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  • 23.04.2018 в 8:56 дп
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    Well done. Many others will follow. We first, ruthless business hunters last and among themselves. That will teach them how much the ground is worth they are exploiting.

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  • 24.04.2018 в 2:44 дп
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    I can see how they feel but thats not very american. They are well with in the law. Just because there business doesn't suit them I cant see why they should have any right to deny any one .

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  • 24.04.2018 в 2:44 дп
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    these bitcoin miners are terrible, they make computers almost unaffordable now , especially video cards

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