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This is an example of bitcoin mining seeking the most renewable, inexpensive energy sources... including geothermal in iceland and hydroelectric in Washington S
by bittcto 9y ago
This is an example of bitcoin mining seeking the most renewable, inexpensive energy sources... including geothermal in iceland and hydroelectric in Washington State and China.
As solar or wind get closer to viability, it may soon come that bitcoin starts paying for massive solar investment (due to the "greedy" interests of miners buying up lots of solar capacity) and that further lowers costs of solar... and maybe wind, though I'm less confident on wind.
- danmaz74 9y agoOn the contrary, bitcoin using up a lot of solar installation would only displace using the same solar panels for other uses.
- nk1tz 9y agoImplying it won't accelerate the development of more/better solar.
- danmaz74 9y agoThere is already a huge demand for electrical power in the world, especially clean one. Bitcoin won't add anything specific for solar.
- kfriede 9y agoThere is huge demand for electrical power, but there is only huge desire for clean electrical power. I'm sure Bitcoin miners want to use clean power, but if it means they have tighter margins as a result, then non-clean will be what they stick with. (Bitcoin used only as placeholder here).
- bittcto 9y agoYou're making the zero sum economic fallacy. More demand for solar panels finances more panels growing, increasing economies of scale reducing panel costs, and also, quite literally growing the total capacity of panels available in the world.
- danmaz74 9y agoSolar panels already have huge economies of scales and lots of research investment; as a matter of fact, their price has been coming down incredibly fast thanks to those. There is no reason why adding bitcoin there will increase that speed.