"Gas costs €35 per mwh for delivery today, but €110 for a guaranteed shipment in December and €142 for one in February, once heaters turn on."
The market is in contago, if you can find a way to store the gas you can make money buying today and delivering in Dec/Jan/Feb.
You could even take delivery in December if you can find storage and sell in Feb and lock in a spread of $32 today. This is the reason you're seeing so many LNG ships outside the coast of western Europe.
Isn't storage just exactly the problem? From what I understand every single possible storage tank in Europe is filled to the brim, and most if not all of the LNG ships are already there or en-route.
I wrote the system for National Grid UK LNG storage and trading in the early 2000s. I think they had 6 sites online now. Milford Haven was in progress I believe. Then they gradually started closing them as not required... Same with coal and nuclear plants! LNG is not so easy to store and there were a lot of safety regulations for site visits.
That's always the problem - most obvious in companies but also visible with governments - anything that is for "once in a lifetime emergencies" gets ignored or downsized eventually because it's hard to explain the reasons for the costs.
I was part of the research organisation which owned all of the British Gas R&D work going back into the 70s and beyond. I also maintained the software for all the high pressure gas metering sites and converted some of the code and calculations from Fortran and Basic into more supportable APIs. There was a lot of early work on GIS mapping for pipeline management as well.
I don't think this is correct. According to the coverage I've read, the facility in question is Rough[1] which closed in 2017. Around that time Truss was "Secretary of State for Justice" and "Secretary of State for Environment, Food and Rural Affairs". In case the latter sounds vaguely energy related, there's a separate cabinet post called "Secretary of State for Business, Energy and Industrial Strategy".
I was on hn when that happened last time. I felt like but could not convince someone to "buy" me an oil tanker for negative money, only for a short period but I could boast about "being an owner of an oil tanker once". Sigh. If only someone could help
It was the value of the contracts for delivery at a certain time and place (e.g. the "May 2020 WTI crude" contracts) that went negative, because there was no capacity to accept delivery.
Sure you could have received money by buying the (undeliverable) oil on a tanker, but then you would have been stuck paying the oil tanker lease cost (tens of thousands of USD/day) until capacity to take delivery became available, or until the tanker could be moved elsewhere with capacity.
oh no. making money was not the issue. i am living on the other side of the world so its not like i could take delivery even if i wanted to but the idea was that i could "buy" the contract and sell the same within minutes/hours as the price was in the negative itself.
i would've get a receipt in my name (for whatever brief period that would've been) and i would get to boast about that..... just harmless fun thing
Or you can use a financial instrument futures. I never bought futures, just learned about it in university. But there you agree to a future price, so akin to storing it.
Future is a contract with delivery in the future - exactly what this comment is taking about. The future markets for Dec/Jan/Feb have already priced in the storage problem many months ago, you can't obtain them for today's low price.
Given no graphics output and all I/O is via serial port... not directly. You could try SLiRP to get proper TCP/IP and use that to connect to an X server somewhere else, and ... I suppose I can't see any reason why that wouldn't work, actually. No promises about it fitting (you're not exactly drowning in free storage or RAM here), it'd be hilariously slow (like, I'd bet below 1 frame per second), but... maybe?
Computing power is just a proxy for capital/resources. Why not be more efficient and use the capital directly and save power in the meanwhile.
Current market cap of ETH is ~$324B, thus getting 50.1% of ETH would require $162.3B in capital. However, as soon as you start acquiring ETH the price will increase, especially at those large volumes.
It would be insanely hard to come up with enough resources to buy enough ETH in a POS world to take over the network. Never mind the fact that as soon as it's become evident you've taken over the network the value of the network is essentially worthless and you've just destroyed billions of dollars worth of capital in the process.
I wonder if a state actor could pull it off more cheaply. Start buying large amounts while letting it leak that you're going to take over the network. See if enough people will panic-sell on the leak to drop the price of your takeover.
It's kinda like taking over a condo building on a much larger scale: the people you buy out first can charge a premium; by the end, you set the terms.
Why would people sell rather than fork to a version of the network where those ETH did not exist? One of the benefits of POS is that when you fork away from a malicious actor, they have to start over from the beginning while in POW, they can just point their hardware to your new chain unless you change the mining algorithm and screw over all the other miners.
This is exactly what happened with Ethereum in the early days when a bad actor was able to exploit a third-party contract to the tune of 5% of all ETH.
The Ethereum everyone talks about today is the fork, due to the Ethereum Foundation which owns the trademark leading the fork.
The Ethereum blockchain with the unaltered history is called Ethereum Classic
Note that the way this fork was pulled off was very ad-hoc.
Ethereum devs were unable to create a legitimate transaction reverting the DAO funds because they do not have access to the hackers' private key. The reversion was done with a "surgical state change" hardcoded into the client itself.
Think of it this way, if another company announces they're planning to buy a publicly traded company, what happens to the value of the shares?
The price goes up, you've just made it more expensive for yourself to take over the network.
If you were to attempt to take over you'd be better to do so in silence. However, it would be hard to hide that kind of control and wealth when every information on the network is publicly available.
In a public company, though, having been taken over doesn't defeat the purpose of the company.
If you're intentionally trying to take things down, sellers have a huge incentive to not be left in the 49% who hold something that's now lost its value - as you say, "as it's become evident you've taken over the network the value of the network is essentially worthless." I think you could get the value to go to worthless well before actually hitting 51% on intent alone, if you're a big enough power.
Why assume a state actor? Given the sorry state of DeFi contract security, it's far more likely that an enterprising hacker can gain a dominant staking position by pillaging and then staking ETH from buggy contracts.
I just bought a Ledger Nano X after being out of the crypto game for a while and I like it a lot so far. Very nice that it's able to communicate with my phone over bluetooth and so don't have to plug it in every time like with the Ledger Nano S.
I don't think there is an easy way to disinfect it, maybe wipe it down with some lysol wipes if you have some. I guess your best bet is to just wash your hands thoroughly after going grocery shopping, and before and after eating.
I'll only buy food that is in containers and clean the containers with a cloth with soapy water. Hopefully, soapy water is suitable. If I'm lucky I'll be able to get methylated spirit in the grocery store to make methylated spirit 70%. This concentration is mentioned in [1]. I could then fill up the empty bottles of surface disinfection spray that I've collected in the last year.
Norway taxes petroleum extraction at 78% effective rate as well which primarily goes into the sovereign wealth fund, but also helps subsidize renewables. Norway has also invested heavily in trying to keep the rainforests from being torn down. They're at least trying something, and trying to encourage their own population to become greener, through things like little to no taxes on electric vehicle use, public transit, and so forth.
The market is in contago, if you can find a way to store the gas you can make money buying today and delivering in Dec/Jan/Feb.
You could even take delivery in December if you can find storage and sell in Feb and lock in a spread of $32 today. This is the reason you're seeing so many LNG ships outside the coast of western Europe.