bitcoin nation flares tensions

Unfortunately, I just think it’s a bad location.”

Ultimately, the Forsyth city council voted unanimously to not rezone the lot where Wattum wanted to mine.

Libbie King in Forsyth was glad that her city council members listened to their citizens, even though there was money on the table.

“They kept the residents in mind,” King said. “They were able to think about the people who live here, not just the money that could potentially be brought in.”

After the city council vote, some signs in Forsyth that used to say “we want to hear the birds, not Bitcoin” have changed. Now, white tape has been added, changing the message to “we hear the birds, not Bitcoin.”

It’ll stay that way.


Also, Israel, Greece, and Cyprus are working on the EastMed pipeline to connect customers in Europe with gas deposits in the Levantine Basin.

The latest initiative in the ideological battle against Turkey is the rehabilitation of Israel’s Eilat-Ashkelon pipeline. The normalization of ties with two Gulf countries will enable the reuse of the pipeline as a conduit of oil that further deprives Turkey of its role as an energy hub. Related: Trump Administration Shocks Oil Industry With Biofuel Waiver Decision

The infrastructure was completed in 1968 with the support of Israel and the pro-western shah of Iran. However, the Islamic Revolution of 1979 cut of the oil supplies from Iran that traversed the country.
The strategic value of Israel as an essential linchpin of Western energy security diminished overnight.

First, certain Arab customers would like to keep their commercial deals secret due to Israel’s reputation in the Islamic world. Second, Iran provided some of the funds to construct the pipeline before the Islamic Revolution in the sixties. Making public the companies’ operations and earnings could strengthen Tehran’s case in international arbitration cases.


In 2015 a Swiss court ordered Israel to pay Iran compensation worth $1.1 billion.

Despite the challenges, political backing from the Israeli government, the conducive strategic environment, and already available infrastructure will likely lead to increased use of the pipeline.

By Vanand Meliksetian for Oilprice.com

More Top Reads From Oilprice.com:

  • Natural Gas Industry Sees Support From U.S.

Un’azienda canadese ha realizzato una mining farm di criptovalute sulle terre appartenenti ad una riserva Navajo, suscitando – come era facile immaginare – forti polemiche. L’impianto, di proprietà di WestBlock Capital, consuma ogni mese l’energia elettrica di grossomodo 18.600 abitazioni. Il grosso dell’energia, scrive Vice, viene prodotta usando fonti rinnovabili (soprattutto pannelli solari).
Si trova a pochi passi da Shiprock, nello stato del New Mexico.

La maggior parte dei Dine, come vengono chiamati i nativi residenti nella riserva circostante la mining farm, vive senza elettricità o acqua corrente.

If she has it delivered, it costs $40 a load. “I don’t even have a water line to my home. So why are we giving these big developers a break in what they have to pay to the Navajo Nation when our own people don’t even have access to electricity or water lines?”

While the WestBlock mine generates millions in Bitcoin each month, Dutch economist Alex de Vries, who operates the Bitcoin Energy Consumption Index on his website Digiconomist, described this particular operation as “baffling” and a “waste of resources,” given the poor living conditions that Navajo Nation citizens continue to experience and lack of local benefits relative to the mine’s profits.

L’operazione della WestBlock Capital è stata possibile esclusivamente grazie al consenso e ad un accordo con la Navajo Tribal Utility Authority, l’organizzazione non-profit di autogoverno della riserva.

La WestBlock ha promesso di portare infrastrutture più moderne all’interno della riserva, allacciando un maggior numero di abitazioni private alla rete elettrica nazionale.

Nonostante queste premesse, parte della comunità si è comunque opposta al progetto. Alcuni residenti, continua sempre Vice nel suo report, si oppongono all’idea che un’azienda straniera possa usare le risorse della comunità mentre molti nativi vivono ancora in una condizione di indigenza.

«È una forma di colonialismo finanziario», ha detto a Vice Tyle Puente, uno dei residenti più critici nei confronti del progetto.

That caused many Bitcoin miners in China to ship their computers to the U.S. without a place to put them. Because of that, these companies started calling small towns across the nation.

However, some of these sites have led to serious dislike of the noisy mines from their nearby neighbors.

Two hours away from Forsyth, a Bitcoin mining facility in Adel, Georgia, has captured the ire of local residents for its nonstop addition to the town’s soundscape. That mine can sound like a loud helicopter running all day and all night, residents say.

In Limestone, Tennessee, residents also complain about a nearby Bitcoin mine that sounds like an idling plane running all day, too, according to the Washington Post.

But in Forsyth, Wattum Executive Director Persky said the company is sensitive to local residents’ concerns and wants to be a good neighbor.

According to a confidential Israeli government source of Asia Times, “while better relations with the UAE and the other Gulf States are important, our peace with Egypt is absolutely essential for maintaining regional stability. Without it, the security position of the country will devolve significantly. Therefore, we should coordinate with the Egyptians rather than attempt to harm their position unilaterally.”

However, EAPC’s pipeline could be an addition to the Suez Canal.

Despite the recent expansion of the Suez, the largest supertankers are still not able to traverse the Egyptian desert. The pipeline could change that when supertankers can pick up cargoes in the Red Sea or the Mediterranean.

Until now EAPC has operated the pipeline in relative secrecy due to two reasons.

My perspective is that we’re being used.”

Nez’s office did not respond to requests for comment.

To some Diné, WestBlock project resembles a form of crypto-colonialism, a term that describes the exploitation of lands and resources by cryptocurrency and blockchain interests, often under the guise of progressive or egalitarian rhetorics for the host communities.

The project began in 2018 when WestBlock CEO Ken MacLean was introduced to the NTUA via a power broker. With NTUA, WestBlock found a source of “stranded” energy, which many cryptocurrency mining firms seek out: power with no customer to buy it, and thus an opportunity for arbitrage.

The imprisonment of Morsi, the civil war in Libya, and the discovery of gas deposits in the Eastern Mediterranean have worked in favor of Israel and its strategic value. The recent normalization of relations between Israel, the UAE, and Bahrein could finalize an anti-Turkey coalition that will define politics in the region for decades.

Already an impressive coalition consisting of France, Greece, Cyprus, Egypt, the UAE, and Israel is confronting Turkey’s saber-rattling. Besides security cooperation, these countries are also working on strengthening political and economic ties.
On 16 January the East Med Gas Forum was established in Cairo with the members being Egypt, Cyprus, Greece, Israel, Italy, Jordan, and the Palestinian Authority.

A short documentary detailing the project by Bitcoin mining hosting company Compass was released last week, framing the mine as a means to achieve sovereignty and economic prosperity for the nation. But some Diné are bristling at the idea of a foreign Bitcoin mining company getting access to dirt cheap electricity while residents in Navajo Nation live without basic utilities like power and running water.

Tyler Puenté, who commented on a since-deleted Facebook post from Navajo Nation President Jonathan Nez’s Facebook page about the mine’s groundbreaking ceremony that Navajo leadership are allowing outsiders to take advantage of Diné, told Motherboard that he sees the Bitcoin mine as a form of “financial colonialism.”

“I think Bitcoin companies prey on communities like my own,” said Puenté.

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