Liberal Forum

Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in AugustBitcoin miner Riot Platforms raked in $31.7 million in energy credits from Texas power grid operator ERCOT in August.
 During a record-breaking heat wave in the state, Riot voluntarily curtailed its energy consumption to take advantage of credits available by limiting use.Riot is benefiting from an alternative source of income at a time when losses are mounting.

 During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it's counting on energy credits from selling power back to the Texas grid to keep its costs under control.

 Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. The company generated the credits by voluntarily curtailing its energy consumption during a record-breaking heatwave.

 The total value of the credits dwarfed the 333 bitcoin the company mined in August, worth about $8.9 million dollars as of the end of the month.

 "August was a landmark month for Riot in showcasing the benefits of our unique power strategy," said Jason Les, CEO of Riot, in the company's press release. "The effects of these credits significantly lower Riot's cost to mine Bitcoin and are a key element in making Riot one of the lowest cost producers of bitcoin in the industry."It's a dramatic strategy shift for Riot, whose revenue soared almost 8,000% in 2021 from booming demand for bitcoin. The crypto market reversed in 2022, leading to a net loss of over $500 million for the year. In the latest quarter, the company lost $27.7 million.https://stocks.apple.com/A4j1mqGY8TjGm3jOcVY2k7Q

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In my memorabilia I keep all my Ronald Reagan campaign buttons and literature where he sounded just like Joe Biden does today.

America is back.

We always were the shining city on the hill.

When you bet against America you never win.

https://youtube.com/shorts/y1Rwwb6Qaas? ... C5AfQPqu5N
 
 

I bet $500:against America

tldr
read your bible instead

Bruce » 06 Sep 2023, 6:23 pm » wrote: ↑

06 Sep 2023, 6:23 pm

Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in AugustBitcoin miner Riot Platforms raked in $31.7 million in energy credits from Texas power grid operator ERCOT in August.
 During a record-breaking heat wave in the state, Riot voluntarily curtailed its energy consumption to take advantage of credits available by limiting use.Riot is benefiting from an alternative source of income at a time when losses are mounting.

 During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it's counting on energy credits from selling power back to the Texas grid to keep its costs under control.

 Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. The company generated the credits by voluntarily curtailing its energy consumption during a record-breaking heatwave.

 The total value of the credits dwarfed the 333 bitcoin the company mined in August, worth about $8.9 million dollars as of the end of the month.

 "August was a landmark month for Riot in showcasing the benefits of our unique power strategy," said Jason Les, CEO of Riot, in the company's press release. "The effects of these credits significantly lower Riot's cost to mine Bitcoin and are a key element in making Riot one of the lowest cost producers of bitcoin in the industry."It's a dramatic strategy shift for Riot, whose revenue soared almost 8,000% in 2021 from booming demand for bitcoin. The crypto market reversed in 2022, leading to a net loss of over $500 million for the year. In the latest quarter, the company lost $27.7 million.https://stocks.apple.com/A4j1mqGY8TjGm3jOcVY2k7Q

——

In my memorabilia I keep all my Ronald Reagan campaign buttons and literature where he sounded just like Joe Biden does today.

America is back.

We always were the shining city on the hill.

When you bet against America you never win.

https://youtube.com/shorts/y1Rwwb6Qaas? ... C5AfQPqu5N

  Computer software, computer phone systems such as 911, banks and airports are being shut down similar to the terminator movie. They have what is called a new web3 crypto that takes less power. Web3 is supposed to be a decentralized crypto however the contract banish-sanctions about 2/3 of the people on earth. People are trying crypto for the same reason they kept moving further west into frontier areas that did not have a government but its a rigged game without a stable electrical power, riskiest investment of all time.The Senate on Wednesday defeated an amendment put forth by Sen. Rand Paul (R-Ky.) to the resolution backing Finland’s and Sweden’s accession to NATO, which sought to emphasize that Article 5 of the military alliance’s treaty does not supersede Congress’ ability to declare war.Senators defeated the amendment in a 10-87 vote, with only Republicans voting in favor of revision.

“There is no more serious question that we are entrusted to answer than whether to commit the women, the men and women of the armed services, to war,” Paul said.

Old world barbarian feudal monarchy war slaver group now supersedes USA constitution.

In other news.

 A Vietnam veteran enplanes that people thank him for his service but he tells them that he never worked for the American people, he tells them that he was working for a corporation group. His brother who is 72 was at the January 6th protest and is apparently facing many years in prison, the Vietnam veteran says that he was not working for the American citizen in Vietnam, no,  but his brother was working for the American citizen  at the protest.

Fed can 'proceed carefully' with next rate move after recent data - Waller

Federal Reserve Governor Christopher Waller said last week's strong economic data will buy the central bank some time as it mulls whether further interest rate hikes are needed, given that the economy is slowing down as intended.

"That was a hell of a good week of data we got last week, and the key thing is it's going to allow us to proceed carefully," he told CNBC. "We can just sit there, wait for the data, see if things continue."

Waller was referring to last week's nonfarm payrolls report, which showed that 187K jobs were added in August, exceeding the 170K expected. Jobless rate rose 3.8% while average hourly earnings increased just 0.2%.

Meanwhile, PCE inflation - the Fed's preferred inflation gauge - rose less than expected in July and the number of job openings unexpectedly fell.
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Christopher J. Waller is an American economist who is a member of the Federal Reserve Board of Governors since 2020. A nominee of then-President Donald Trump, he was confirmed by the Senate in December 2020, to serve through January 2030.[1][2]

He was previously the research director of and an executive vice president at the Federal Reserve Bank of St. Louis. Waller's research has centered on monetary theory, political economy, and macroeconomic theory.[3

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https://youtube.com/shorts/eJMFGbZw35Q? ... EmVnRhN2-X

https://youtu.be/Vx2Ik1Rckss?si=hz0pAxDaGfytR1Mt