55 min listen
48: Bitcoin Miners Are Making Bank...But Not From Mining Crypto (w/ Jackie Sawicky)
FromScam Economy
ratings:
Length:
72 minutes
Released:
Mar 27, 2023
Format:
Podcast episode
Description
What happens when one of the biggest cryptocurrency mining companies in the world sets up shop in your small rural American town? Jacky Sawicky, founder of the Concerned Citizens for Navarro County and a member of the NCAC: National Coalition Against CryptoMining, joins Scam Economy with Matt Binder to tell us exactly what happened when Riot Platforms brought their Bitcoin mining operation to her Texas town. Jackie breaks down how it went occurred, the sweetheart backroom deals that went on between the mining company and local and state government, how the crypto mining company has affected the locals, the unbelievable way in which crypto mining companies make most of their money (and it's not from mining crypto), how this is a widespread problem happening throughout the U.S., what's being done about it, and much, much more.
Visit: http://www.ScamEconomy.com
Support the show: http://www.patreon.com/mattbinder
Sources:
https://www.riotplatforms.com/investors/sec-filings/annual-reports
https://gizmodo.com/texas-bitcoin-bitcoin-mining-ercot-riot-blockchain-1849367067/amp
https://blockworks.co/news/bitcoin-mining-execs-make-serious-bank-versus-other-industries
https://beincrypto.com/riot-blockchain-rebrands-amid-miner-capitulations/
https://www.texasobserver.org/texas-is-becoming-a-bitcoin-mining-capital-can-the-grid-handle-it/
https://www.bloomberg.com/news/articles/2022-12-05/texas-s-crypto-mining-boom-is-starting-to-look-more-like-a-bust?leadSource=uverify%20wall
https://www.popularmechanics.com/science/health/a42011194/crypto-mine-noise-murphy/
Visit: http://www.ScamEconomy.com
Support the show: http://www.patreon.com/mattbinder
Sources:
https://www.riotplatforms.com/investors/sec-filings/annual-reports
https://gizmodo.com/texas-bitcoin-bitcoin-mining-ercot-riot-blockchain-1849367067/amp
https://blockworks.co/news/bitcoin-mining-execs-make-serious-bank-versus-other-industries
https://beincrypto.com/riot-blockchain-rebrands-amid-miner-capitulations/
https://www.texasobserver.org/texas-is-becoming-a-bitcoin-mining-capital-can-the-grid-handle-it/
https://www.bloomberg.com/news/articles/2022-12-05/texas-s-crypto-mining-boom-is-starting-to-look-more-like-a-bust?leadSource=uverify%20wall
https://www.popularmechanics.com/science/health/a42011194/crypto-mine-noise-murphy/
Released:
Mar 27, 2023
Format:
Podcast episode
Titles in the series (65)
2: Cryptocurrency is a Ponzi (w/ Sohale Mortazavi): Sohale Mortazavi joins Scam Economy to talk about his piece for Jacobin that went viral: Cryptocurrency Is a Giant Ponzi Scheme. Host Matt Binder and Mortazavi discuss what crypto has in common with Ponzi schemes, the market manipulation of Bitcoin courtesy of the stablecoin Tether, what should be done about crypto, the reaction to his piece which spread on Reddit and Twitter, and the "progressive" or "socialist" case for crypto. Support the show: http://www.patreon.com/mattbinder by Scam Economy