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zaps forwarded to @notgeld (100%)
0 sats \ 0 replies \ @BTCMiner OP 5 Aug 2022
The link for this post is using an archive for the article on Amy Castor's website. This archive was used because there are one or more inaccuracies in the article, so the archive will show the original article (or at least at the time of this writing) before the ninja edits in the article occur. The link for the article on Amy Castor's website is:
Bitcoin mining in the crypto crash — the mining companies’ creative accounting
https://amycastor.com/2022/08/04/bitcoin-mining-in-the-crypto-crash-the-mining-companies-creative-accounting/
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0 sats \ 6 replies \ @BTCMiner OP 5 Aug 2022
It doesn't help that the footnote references in the BMC report has links that were made ALL CAPS, and thus invalid. But I found a year-end 2021 report which is close. The authors of this article made a rookie mistake, so I responded:
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0 sats \ 5 replies \ @BTCMiner OP 5 Aug 2022
Actually it is a 2022 report, so I deleted the Tweet and did another with correct year.
The 2022 report from the BP website is:
https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2022-full-report.pdf
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0 sats \ 0 replies \ @BTCMiner OP 5 Aug 2022
.
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0 sats \ 3 replies \ @BTCMiner OP 5 Aug 2022
The author is making it sound like the miners broke a law or something.
Anyway, later in the article she references another article / blog post presumably where she got the 15 months from. That article was also shared, previously, here on SN:
The problem with bitcoin miners [seen on Hacker News]
#28657
https://paulbutler.org/2022/the-problem-with-bitcoin-miners
https://archive.ph/5g3br
tl;dr: Nobody knows ... a modern (2021) S19 Pro 110, for example, might be producing bitcoin for ten years, who knows. IRS allows 5 years, and that's what the miner's used (and disclosed, as far as I know).
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0 sats \ 2 replies \ @BTCMiner OP 5 Aug 2022
Now that's just an outright lie. Bitcoin didn't lose 85% of its hashrate during the BCash fork. Variance happens. We've can see an hour between blocks multiple times every week yet today. It's called variance.
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0 sats \ 1 reply \ @BTCMiner OP 5 Aug 2022
Didn't she just mention earlier in the article from the CoinTelegraph article that miners are accumulating aggressively once again?
Oh well, ... haters gonna hate.
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26 sats \ 0 replies \ @notgeld fwd 5 Aug 2022
Yes. Somewhat sad that Bitcoin Mining Council was created specifically for such people but they just ignore data and instead use their own agitated sources.
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