4 ms·
Actually, cryptocurrency mining serves an environmentally-friendly function in energy markets because it absorbs excess capacity in the geographic regions where
by antidesitter 8y ago
Actually, cryptocurrency mining serves an environmentally-friendly function in energy markets because it absorbs excess capacity in the geographic regions where mining is done (i.e. where electricity is cheap) and allows it to be “exported” rather than go to waste. Interesting stuff.
- Gpetrium 8y agoDid you know that some governments subsidize energy prices to make it easier for their populace to pay the bills and to encourage businesses to come to their country? If cryptocurrency mining goes to countries with subsidized energy and they become part of maxing out that country's energy output, the country may be forced to create new energy sources to provide to the population (aka, higher environmental impact + cost). This push may be partially blamed by the cryptocurrency servers. In other words, not all cryptocurrency mining servers as utilizing just the extra capacity casually created by a city/state.
- dorgo 8y ago> and to encourage businesses to come to their country? Bitcoin mining is a business and it comes to the country. Goal achieved.
- antidesitter 8y ago> the country may be forced to create new energy sources to provide to the population Do you have any evidence that this is happening and, if so, that its costs outweigh the utility of energy exported to the rest of the world?