TL;DR

• Bitcoin mining operations are bringing jobs back to small towns in Texas, where overbuilt power stations (left over from past industries) mean cheaper energy.

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Is cryptocurrency just silly internet money? Or is it a life changing technology?

…porque no los dos?

Sure, to the cynical eye — Bitcoin (and every other cryptocurrency in existence) is just a glorified shared Google Sheet, updating who-owns-what imaginary currency in real time…

That’s the ‘against’ argument ☝️

Now…

Here’s the ‘for’ 👇

At their core — all modern currencies (whether crypto or fiat), are tracked this way…however folks don’t value cryptocurrencies like Bitcoin because of their similarities to fiat, but because of their differences.

E.g. Bitcoin has no middle men (banks), cannot be controlled by any one entity (governments), and has a fixed supply (which means it tends to go up in value over time, instead of down).

Here’s a new angle that can be added to the ‘for’ argument👇

Buying and holding Bitcoin has done great things for many people over the years, but “The Big Empty” documentary by Will Foxley just highlighted a new avenue for Bitcoin to do social good.

(One that we hadn’t really considered yet).

Bitcoin mining operations are now looking to build mining operations in small towns around Texas.

Like the town of Spur, where most of the big industries are long gone, but have left behind overbuilt power stations, leading to cheaper energy.

(Which is like catnip for Bitcoin miners).

Towns like Spur don't often have many high paying or stable jobs, but BTC mining operations can often bring a hundred or so well-paid positions — both short and long term. Think: construction, maintenance, repair techs, security guards, etc.

“Even just thinking about the facility, they plan on opening up a kitchen to feed the 40 workers there. That's going to be like five to ten new jobs.“

- Will Foxley

Bitcoin mining: it ain’t much, but its honest work.