OH NO NO NO NO NO NOO

>Earlier this week, Hydro-Quebec warned that there won’t be cheap power available for every company that wants to set shop in the province and suggested it may set a higher tariff for cryptocurrency miners. On Friday, the government -- the utility’s owner -- questioned the companies’ contribution to the province’s economy.
>“If you want to come settle here, plug in your servers and do Bitcoin mining, we’re not really interested,” Premier Philippe Couillard said at a conference in Montreal Friday. “There needs to be added value for our society; just having servers to do transaction mining and acquire new bitcoins, I don’t see the added value.”

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thats communism for you

Makes sense. It is far more useful to the local economy if a factory that employs people uses the cheap electricity. This has no effect on Bitcoins price though.

>Couillard has no balls

because bitcoin contributes so much to our society right?

>There needs to be added value for our society; just importing shitskins that don't work and increase criminality, I don’t see the added value.

Why did you enslave niggers when machines could have picked cotton faster?

Fuck tax revenue and shit. Goddamn Canadastan.

It's a waste of electricity and nothing else. A bad shitcoin too.

It sucks, but understandable.

Stay poor, Canada.

Literally this. He was suggesting Montreal becomes a "sanctuary" city because he wants to be noticed by his US overlords. CBSA told him to get fucked and he's been looking for something to make him look tough. I've been seeing miner for sale right and left lately. So they know something.

Idiots are so short sighted. Controlling mining operations is going to be huge for geopolitics in 10-20 years

Thats fine ill set up shop in winnipeg instead.

Yes, give more money to the Chinese. Great plan. Fucking boomers find new ways to fuck us every day.

>miners outsource to a 3rd world shithole
>potential profits and massive tax revenue lost with liberal short-sightedness and the boys on top laugh at the cucks...
so do i btw.
kanuck cucks lel

>muh buttcorn are waste of electricity!!!!! duhuuuuu!!!!!!!!!!
it's fucking brainlets like the guy in OP's post and the rest of you that just don't fucking get it
BITCOIN TAKES ELECTRICITY TO BE MINED
YOU ACKNOWLEDGE THAT
ASIDE FROM INNOVATION, THERE IS SIMPLY NO WAY AROUND USING FUCKLOADS OF ELECTRICITY IF YOU WANT TO MINE BITCOIN
BITCOIN IS WORTH, *AT THE ABSOLUTE VERY LEAST, AT ANY GIVEN TIME,* THE COMPILED COSTS OF THE MOST EFFICIENT MEANS OF MINING IT
ONLY A FUCKING IDIOT MINER WOULD SELL THEIR BITCOIN FOR ANY LESS THAN THAT
THE ONLY WAY TO GET BITCOIN CHEAPER IS TO MAKE CHEAPER POWER, OR TO MAKE MORE EFFICIENT COMPUTERS TO MINE IT WITH
PROOF OF WORK IS GONNA START A FUCKING ARMS RACE IN ENERGY PRODUCTION AND COMPUTATIONAL POWER
THE COUNTRIES AND PRIVATE ENTERPRISE THAT UNDERSTAND THIS ARE GONNA HAVE MONEY COMING OUT OF THEIR EARS
THEY'RE GONNA HAVE GIANT TEAMS OF PEOPLE, FUNDED BY MINING OPERATIONS, LOOKING BEYOND EVEN FAILSAFE NUCLEAR FOR THE NEXT INNOVATION IN POWER PRODUCTION
THEY'RE GONNA BECOME BLOCKCHAIN CAPITALS OF THE WORLD
MEANWHILE, ALL THE STUPID BITCHES WHO WERE COMPLAINING THAT BITCOIN USES TOO MUCH POWER ARE GONNA BE FUCKING OVERLOADED WITH ALL THE POWER THAT THEY COULD EVER WANT, AND IT WILL ALL BE BECAUSE OF BITCOIN—THE THING THAT THEY WANTED A FUCKING CRACKDOWN ON
ADDITIONALLY, BECAUSE OF ASIC-RESISTANT COINS (and also asics), ALL THE GAYMERS WILL HAVE PILES UPON PILES OF CHEAP-AND-POWERFUL-AS-FUCK GRAPHICS CARDS, BECAUSE GPU MANUFACTURERS (OF WHICH WE SHALL SEE DOZENS UPON DOZENS OF NEW NAMES) WILL BE RACING AGAINST ONE-ANOTHER GLOBALLY TO MAKE THE NEXT, MOST EFFICIENT GPU, BECAUSE THE FINANCIAL INCENTIVE FROM MINING IS AS DIRECT AND WITHOUT MIDDLEMAN AS IT COULD POSSIBLY BE

oh and by "bitcoin" i mean bitcoin cash
plus other proof-of-work coins
we're gonna see proof-of-work coins being worth thousands of times what they're worth right now in just a few years

>relying on old niggers in gov to make economic decisions for you
>boomer faggot and the entire government planning committee is 30 years behind the curve so your whole country is non-competitive and all your people starve
sounds like communism, all right

>Mining costs more money
>Miners stop mining
>Supply of BTC stagnates
>Price rises
>Miners jump back in, but now BTC prices have mooned

Gg Canada

>PROOF OF WORK IS GONNA START A FUCKING ARMS RACE IN ENERGY PRODUCTION AND COMPUTATIONAL POWER

>mfw this is what the singularity looks like

>BITCOIN IS WORTH, *AT THE ABSOLUTE VERY LEAST, AT ANY GIVEN TIME,*
yea but its not worth that much on the market

Wow and I thought that BTC shill Andreas said BTC mining will be essential for economy. Hard to think Greek can be wrong when money and economy is concerned.

Why? Its decentralized coin, no body can govern it. /S for retards

you're absolutely right! it's worth that, plus a sizeable amount extra—because miners want money. this isn't a bad thing.

Literally this.
The harder it is to mine, the higher its ultimate support is.

Plus, I don't see anything wrong in an authority looking after the community future.

If everybody mined BTC, it would have ponzi crahed into $0 long-long ago

Wow satoshi might actually be that POS australian scammer.

True

Satoshi seems like a kind of a dick

>waaa why aren't 1st world countries allowing chinks to setup mining platforms for the ultimate centralized slow expensive turing incomplete shitcoin

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Fucking Quebec ruining ever thing for people once again. I saw this coming though a bunch of non french speakers come to mine and then Quebec pulls the plug just like clock work

Reminder that power is nationalized in Quebec so society would pay the price of an increased demand

Russia and Greenland are the only options now

Quebec isn't a very business friendly environment. They're better off looking west. Just as cold, with just as much lakes and rivers for hydro, and wide open prairies for wind, and governments will take whatever business they can get.

>The Réseau d'informations scientifiques du Québec (RISQ; lit. "Quebec Scientific Information Network") is the optical research and education network in the province of Quebec, Canada. A non-profit cooperative established in 1989 by leaders from Quebec's universities, RISQ originally connected those universities to the U.S. government's NSFNET using leased telephone connections. The Government of Quebec provided RISQ with a $37 million grant in 2000 on the condition that the network expand to cover all post-secondary institutions in the province. RISQ now operates a high capacity broadband network throughout Quebec using over 6,000 kilometres (3,700 mi) of fibre-optic cable.
I'm giving a government official too much credit here but it makes sense.

Good, one thing that Canada has actually done that was smart. Fag miners should be charged double for electricity.

>durr I don't understand how electricity works

>100 miners
power bill monthly: ~3000
internet bill monthly: you could connect to a mining pool using tyrone's stolen prepaid nokia phone just fine, so we'll say 0
>100 servers
power bill monthly: ~1500
internet: probably 4500-6000

Yet another bunch of retards talking big and forgetting their own wallets never went higher than 0.1 BTC.

>be chink
>install a mining farm in $RANDOMCOUNTRY
>buy electricity to mine coins
>pay bills, keep the (astounding) gains

Canadian people only involvement is to pay for electricity subsidizing. Mr. Couillard is fuckin right.

yeah god forbid anyone deploy capital in your country to meet a market-based demand thus ridding your electricity producers of the oversaturation in production from natural sources that causes the prices to be low. will miners keep going there once electricity costs the same as everywhere else? can you tax them? the problem is they just "dont like" the thing they're producing. which is why they are communists.