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Surely Bitcoin miners will snatch up these opportunities soon. Cheap electricity can be translated into money if you have the mining equipment.
by deweller 8y ago
Surely Bitcoin miners will snatch up these opportunities soon. Cheap electricity can be translated into money if you have the mining equipment.
- rb808 8y agoAgreed but its a weird transaction system that works better on windy days. :)
- epx 8y agoI just saw myself licking the thumb, putting the arm out of the window, waiting a bit and thinking "ok the thumb got chilled enough so it is great time to pay that bill".
- sriram_sun 8y agoInteresting point! It seems to me that the economy regularly takes a beating on extreme weather days. However, these things are factored in. For e.g. whenever there is a cyclone brewing near the Louisiana coast, gas prices go up. If there is a blizzard, people stay home. Then there are forest fires - these might cause property destruction and have a long term health impact - directly and indirectly affecting the economy. Although the exact timing of these events are not predictable, a huge part of our economy - the insurance industry tries to factor extreme weather into account. Similarly, mining during windy days should even out, given enough players are invested.
- Geee 8y agoNot really. Mining has high capital costs which can't be covered if the energy source isn't reliable. Mines need to run 24/7 to be profitable.
- bufferoverflow 8y agoWell, with free/negative electricity you can mine cryptocurrencies with outdated gear, no need to invest into the latest ASICs. It's free money, just not much of it.