The City Of Fort Worth To Vote On Becoming A Crypto Miner
The Fort Worth City Council is going to vote on whether it should accept a donation of Bitcoin miners.
In this video I discuss how this could help to add another ally in the cryptocurrency battle. If the City accepts the donation of the miners, it would enter the mining game. To my knowledge this would be the first municipality to engage in this, at least in the US.
Here is the article mentioned in the video:
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Is Crypto mining really real? Because I have been into some and it later went off in the long run.
Yes both Bitcoin and Ethereum are run on mining. The latter is switching to PoS but Bitcoin is, and likely always will be, mined.
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Okay because I was thinking they are scam because I have encountered some like that but they end up running away with peoples investment
No mining is how the blocks are validated.
Now that doesnt mean people do not run scams promoting mining services and whatnot. I am sure they do.
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Ok I would just be careful not to get involved in it again. Or do you have one you could recommend to me at least??
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I wished that my city would do something like this and perhaps improve service delivery with the profits!!!!
I wonder what the Government view would be on something like this, here in South Africa??
It will take a while for this to concept to spread. Hell it might not even take off. However, it is just another example of a City getting involved (potentially).
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IMHO, in any case, this will be a historical step, if approved then will be remembered for all eternity.
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I think it would be a nice change and it would be something the federal government can't ignore. I imagine all those environmentalists are going to start making a huge mess on Twitter over it if it passes.
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Summary:
The video discusses the possibility of Fort Worth, Texas, becoming a Bitcoin miner based on a donation of mining equipment from the Texas Blockchain Council. The City Council is set to vote on accepting the miners, which are valued at $2,100 each. While the financial impact may be minimal, accepting the donation would symbolize the city's support for cryptocurrency. The discussion extends to other states and cities that have shown support for crypto, highlighting the growing trend of government acceptance of digital currencies.
Detailed Article:
Task discussed the upcoming decision by the Fort Worth City Council on whether to accept a donation of Bitcoin miners from the Texas Blockchain Council. The value of the miners, estimated at $2,100 each, raised doubts about their effectiveness in serious mining operations. Task highlighted the symbolism behind this decision, suggesting that it represents another step towards government involvement in the cryptocurrency sector.
The conversation shifted towards the broader acceptance of crypto at the state and city levels, citing examples such as New York's potential ban on proof of work mining and Florida's governor planning to accept crypto payments. Task emphasized the significance of gaining allies in government to combat potential federal restrictions on cryptocurrencies. The discussion underscored Texas and Wyoming as pro-crypto states, signaling a positive trend across the United States.
Task pointed out the strategic move by the Texas Blockchain Council in offering mining equipment to Fort Worth, illustrating how such initiatives could sway government officials towards supporting cryptocurrency. The potential financial benefits for the city, if they choose to accept the donation, were highlighted as a driving factor for continued involvement in crypto mining operations.
The talk delved into the need for infrastructure development, decentralization, and increased participation in the cryptocurrency space. Task expressed optimism about the growing number of people involved in crypto globally, anticipating a significant increase in cryptocurrency users by the end of the year. The network effect was stressed as a crucial factor in expanding the reach and impact of cryptocurrency.
In conclusion, Task expressed his hope that Fort Worth would embrace the donation and become a notable player in the crypto mining industry, adding to the momentum of government support for digital currencies. The overall tone of the discussion reflected a positive outlook on the increasing acceptance and adoption of cryptocurrency at various levels of government and society.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.