4 ms·
1/1000th of global energy production. Or the output of one nuclear power plant, or the same as all energy lost to friction for every car in the world. That real
by hjnilsson 9y ago
1/1000th of global energy production. Or the output of one nuclear power plant, or the same as all energy lost to friction for every car in the world. That really puts it into perspective.
- homero 9y agoMuch of the mining is done next to hydro plants in China.
- etatoby 9y agoStill, there is a fixed amount of hydro power available, short of building new dams. This puts Bitcoin's toll on fossil fuel. (If Bitcoin didn't exist, the hydro power would still be there and would be used for something else, therefore less fossil fuel would have to be burned in its place.)
- aianus 9y ago> If Bitcoin didn't exist, the hydro power would still be there and would be used for something else That's not a good assumption. There are many power plants in China in the middle of nowhere unconnected to much. It's completely plausible that the entire bitcoin network could run on clean energy that otherwise couldn't be used for much else because it's too remote (geothermal in Greenland or something).
- Digiconomist 9y agoI hope we're not building hydro power plants for the sole purpose of supporting the Bitcoin network. The energy may be "clean", but these projects have their own impact on the surrounding ecosystem.
- homero 9y agoSo far they're built next to pre-existing ones and using excess power
- _coldfire 9y agoThere's huge energy oversupply in Sichuan province, you can't just keep storing hydropower infinitely, it has to be released to protect the dams. All this outrage is misguided, the market incentives mean miners go to where the cheapest power is, all the industrial scale mining is located next to large renewables sources in China, Pacific NW, Scandanvia/Iceland. The largest ethereum mine in the world is 100% renewable.