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"if mining encourages even tiny innovations in power plant and grid efficiency " But it won't. All the incentives to increase power plant and grid efficiency
by hcknwscommenter 8y ago
"if mining encourages even tiny innovations in power plant and grid efficiency "
But it won't. All the incentives to increase power plant and grid efficiency are already there. Moreover, as you state quite clearly, bitcoin energy use is a small proportion of energy usage.
- nonbel 8y agoMining is somewhat unique in that it doesnt really matter where it is done and it is very easy to tie profitability to electricity cost (since that is the main cost). So I disagree, at least if it gets big enough to matter. I'd expect power plants, towns, etc to find it more worthwhile to invest in more efficient tech to attract the miners.
- viraptor 8y agoWhy would they want to attract? The article summarises it well: ignores local workforce, requires resources, can relocate quickly - it doesn't sound useful for the towns.
- nonbel 8y agoObviously to make money... Towns with weird subsidizing schemes going on won't be able to take advantage unless they account for the new opportunity.
- hcknwscommenter 8y agoOnly if they tax the heck out of mining. How well do you think that is going to work?