How Bitcoin Mining Is Bringing Work Back To Small Towns in Texas… | Web3 Daily

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Is cryptocurrency simply foolish web cash? Or is it a life altering know-how?

…porque no los dos?

Positive, to the cynical eye — Bitcoin (and each different cryptocurrency in existence) is only a glorified shared Google Sheet, updating who-owns-what imaginary foreign money in actual time…

That’s the ‘in opposition to’ argument ☝️

Now…

Right here’s the ‘for’ 👇

At their core — all trendy currencies (whether or not crypto or fiat), are tracked this manner…nevertheless people don’t worth cryptocurrencies like Bitcoin due to their similarities to fiat, however due to their variations.

E.g. Bitcoin has no center males (banks), can’t be managed by anyone entity (governments), and has a set provide (which suggests it tends to go up in worth over time, as an alternative of down).

Right here’s a unique approach that may be added to the ‘for’ argument👇

Shopping for and holding Bitcoin has completed nice issues for many individuals through the years, however “The Large Empty” documentary by Will Foxley simply highlighted a brand new avenue for Bitcoin to do social good.

(One which we hadn’t actually thought of but).

Bitcoin mining operations at the moment are seeking to construct mining operations in small cities round Texas.

Just like the city of Spur, the place many of the large industries are lengthy gone, however have left behind overbuilt energy stations, resulting in cheaper vitality.

(Which is like catnip for Bitcoin miners).

Cities like Spur do not usually have many excessive paying or steady jobs, however BTC mining operations can usually carry 100 or so well-paid positions — each brief and long run. Assume: building, upkeep, restore techs, safety guards, and so on.

“Even simply excited about the power, they plan on opening up a kitchen to feed the 40 employees there. That is going to be like 5 to 10 new jobs.“

– Will Foxley

Bitcoin mining: it ain’t a lot, however its trustworthy work.