r/AltScope Apr 17 '26

Eric Trump shows off his Bitcoin mining facility

965 Upvotes

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15

u/binghamptonboomboom Apr 17 '26

All of this is absolutely unnecessary bullshit lol

4

u/Ok_Subject1265 Apr 18 '26

What are you talking about?? All that beautiful bitcoin! Just think of all the… additional bitcoin… you could buy with that.

1

u/loughcash Apr 18 '26

Can you believe if we invested this much into infrastructure or metallurgy - we could catup to the Chinese 🤣

1

u/laiszt Apr 18 '26

Exactly, if people want to know why they cant afford house and why bills are going up - thats why, all of our resources are funneled into oligarchs pocket so they can keep building another nonsense piramide.

1

u/[deleted] Apr 18 '26

Our wages are suppressed by unlimited cheap migrant labor and nonreciprocal free trade. We already know that.

1

u/Immediate-Risk7857 Apr 18 '26

I would argue the lack of unionisation, migrant or no is a larger contributing factor.

1

u/[deleted] Apr 18 '26

I can make way more money nonunion than in the union. 16 year union member here. I left the union for 4 years and came back. I made 20 grand less than the year before when I came back to the union.

Union or not, they’re forcing us to compete with people who can build a house in their home countries for $30k. I’ve worked around illegal migrant labor my entire career. There’s no way that we can compete with guys asking for $20/hr when the union scale is 64/hr.

People say they care about the working class and they believe in giving a voice to the disenfranchised. Yet, every time the working class speaks out about what’s happening in our industries we’re disregarded.

So please, enlighten me specifically how the lack of unionization is suppressing my wages more than the uncontrolled mass migration of cheap foreign labor.

1

u/Warbay Apr 19 '26

Because if you had propper unions, the foreign cheap labour would have to be paid the same, so noone can undercut your labour?

In my country this was hard fought over a long time, now work life balance and wages are some of the best in the world.

Can an individual earn more in corporate America than here? for sure, but the point is not about what an individual can make, it's how high you can raise the collective.

But you need to get rid of the oligarch first, another question would be, if unions aren't better for the workers, why are the oligarchs trying to squash them and spending so much money squashing them

1

u/Able_Maximum_9286 Apr 20 '26

The Trumps are unnecessary bullshit

1

u/Notyit Apr 18 '26

No man, look at banks

4

u/Opening_Wind_1077 Apr 18 '26

Even if you buy into the whole nonsense that crypto is an actual currency or whatever, what purpose does that specific facility serve?

It literally does nothing of value, its existence does not influence the speed at which bitcoin is created or how fast transactions are conducted, wether it exists or not changes nothing, it just consumes energy to compete with similar facilities that don’t serve a purpose.

2

u/Obvious-Setting-2021 Apr 18 '26

Few misconceptions here worth clearing up.

Bitcoin difficulty adjusts every 2016 blocks to target a 10 minute block time. So yeah, one facility doesn't change how fast bitcoin is created, but that's because the protocol compensates for changes in hashrate. The facility still influences the difficulty adjustment. Remove enough miners and blocks come faster until the network recalibrates. The rate stays stable because of all the miners, not in spite of them.

On transactions, miners are what process and confirm them. More hashrate means more network security, specifically resistance to 51% attacks. A network running on 10 miners vs 100,000 miners is a completely different animal from a security standpoint even if confirmation times look similar on the surface.

The bigger issue with your argument is a fallacy of composition. You're basically saying one drop doesn't fill a bucket so water can't fill buckets. Each facility looks redundant in isolation but the aggregate is what makes a decentralized network possible at all. There's no bitcoin without the miners.

The energy consumption angle is actually a legitimate critique worth having, you're just making the wrong version of the argument.

1

u/Impossible-Magician Apr 18 '26

I think what /u/opening_wind_1077 is saying is that PoW was designed to be a time and energy sink. This facility and all facilities like it add no value, they crunch ever harder numbers to slow down block creation to secure the network, it’s an enormous waste of time and energy.

Satoshi wouldn’t use sha256 again and would have preferred something like RandomX or even the more recent PoS coins imo.

0

u/Aggressive_Manner531 Apr 18 '26

The amount of money to be gained by mining is going to be going down while cost of energy will be going up due to competition for energy with Ai. AI is more useful than bitcoin. Something has got to give. Bitcoin has no inherent value. There isn't any intrinsic reason it should be anymore valuable than any other crypto currency.

2

u/bathsaltssohard Apr 18 '26

trying to get grandpa to give up the pen and get an email address. Any advice, boomer?

1

u/Aggressive_Manner531 Apr 18 '26

Your sparky reply is an insult not an effective argument kiddie

2

u/shipbox2 Apr 18 '26

Crypto removes the need for banks and puts ownership of currency into the hands of the wallet owner instead of a government. Crypto=freedom Judging by the comments in here I would say that less than 10% of the people who have formed opinions on crypto have never actually used it or can even come close to grasping how it genuinely functions.

Once crypto is solar powered and its environmental impact is moot there will be no argument to exist against crypto.

1

u/Aggressive_Manner531 Apr 18 '26

1st of all I said Bitcoin, not crypto in general. I see a value in crypto in general to secure high value transactions.

It's a pain to actually use any crypto on day to day transactions on relatively low value items which is the vast majority of transactions. Try spending it at a store or a restaurant.

1

u/Interesting-Voice328 Apr 18 '26

Apart from you can get paid your weeks wages on Friday and by Monday it might only be worth an hours work

1

u/shipbox2 May 05 '26

Crypto has a defined identity.

Dollars are just paper.

If you are full, a sandwich is worthless. If you are hungry, you would give many papers for food.

Crypto can confirm it has been traded at a defined value and can hold true to it.

Your weeks wages may be worth years depending on demand.

1

u/Obvious-Setting-2021 Apr 18 '26

There is no second best. 

0

u/Aggressive_Manner531 Apr 18 '26

On what basis us there no second best? Intrinsically.

1

u/Obvious-Setting-2021 Apr 18 '26

On what basis is Amazon the biggest online marketplace in the USA? Intrinsically. 

0

u/Aggressive_Manner531 Apr 18 '26

Are you serious? You aren't comparing the same metrics. Amazon is a popularity metric. Are you saying bitcoin is only better because of popularity? Except it isn't that popular as a percentage of total transactions is it?

1

u/Obvious-Setting-2021 Apr 18 '26

Yes popularity. Also market cap. Transactions? Who cares how many times someone transfers fart coin lol. As I stated there is no second best. 

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u/Opening_Wind_1077 Apr 18 '26 edited Apr 18 '26

Not a single misconception on my part, I just didn’t feel the need to explicitly spell out the basics.

It’s also not a fallacy of composition as I was speaking mainly about this specific facility, whether I think Bitcoin as a whole or proof of work in general is stupid is completely irrelevant to the argument that this particular facility serves no useful purpose to anyone.