A Common Denominator Between Mining and the Proposed U.S. Import Tariffs?
This may be a bit of a stretch but in a article published on Politico.com today there is a story that lays out the basic history of bitcoin, mining, and all that it entails.
Towards the end of the article there is a seemingly thinly-veiled suggestion that the process of mining could possibly help certain areas of the country regarding both infrastructure as well as manufacturing industries that use large amounts of electricity.
- "Meanwhile, the miners in the basin have embarked on some image polishing. Carlson and Salcido, in particular, have worked hard to placate utility officialdom. Miners have agreed to pay heavy hook-up fees and to finance some of the needed infrastructure upgrades. They’ve also labored to build a case for the sector’s broader economic benefits—like sales tax revenues. They say mining could help offset some of the hundreds of jobs lost when the region’s other big power user—the huge Alcoa aluminum smelter just south of Wenatchee—was idled a few years ago."
A link to the full article is at the bottom of this post and I highly recommend reading it.
The idea of mining for bitcoin, in areas of the country, with cheap energy appears to be prompting the idea of upgrading the power grid in those areas in addition to the possibility of re-opening some of big industry. Is it a coincidence that the proposed tariffs coincide with this idea or possibility? There's a lot of work to be done and this idea is in it's infancy stages as is the true meaning of the crypto industry. Could this could be a platform to launch not only a quicker infrastructure-upgrade stimulus but also prompt industrial jobs making a comeback and the U.S a little less reliant on imported materials such as steel and aluminum?
There's potential for growth in a variety of sectors in regards to the crypto-phenomenon. Perhaps more than we know if we look past all the shiny virtual goodies. Food for thought!
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https://www.politico.com/magazine/story/2018/03/09/bitcoin-mining-energy-prices-smalltown-feature-217230
Miners sometimes work hard in completing their tasks, the description described is very useful, thanks
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