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Don’t subsidize Bitcoin,  Morristown man says

Posted 6/3/26

To the Editor:

After reading the most recent NNN articles regarding NYDIG, "More then 50 residents voice opposition to data center project during Massena Town Board meeting" and "NYDIG officials …

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Don’t subsidize Bitcoin,  Morristown man says

Posted

To the Editor:

After reading the most recent NNN articles regarding NYDIG, "More then 50 residents voice opposition to data center project during Massena Town Board meeting" and "NYDIG officials hold informational presentation about proposed Massena data center expansion", I realized a very important word is not mentioned in either article. That word is bitcoin. 

NYDIG's stated business purpose is to advance adoption of Bitcoin by building institutional grade financial infrastructure and power/mining capabilities — i.e., provide regulated custody, execution (trading/structuring/financing), lending and corporate treasury solutions for bitcoin while operating scaled power and mining infrastructure to support the Bitcoin ecosystem. Essentially, this means their goal is to increase the casual adoption and infrastructure supporting a unbacked, digital currency with an end goal of forcing its use by default. 

 We already have a failing fiat system and don't need another.

Of special interest to the people of Massena is that the proposed "data center" is to use Massena's infrastructure to help a very, very small number of people leveraged in bitcoin to become extremely wealthy by promoting the above mission statement. 

The people of Massena need to understand that they will be, without question, subsidizing this activity through higher electricity rates and harm to their environment through water, air and noise pollution and once established, it will not go away. 

Choose wisely and force NYDIG to dig elsewhere. 

Bitcoin has zero intrinsic value and is not a store of wealth. It is just one of thousands of unbacked cryptocurrencies relying on the greater fool model for its existence...until it is forced. 

 

Jim Smithers

Morristown