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It's not quibbling over details. Bitcoin miners often place their mining farms near power plants and consume electricity that would've been wasted otherwise. A
by wickoff 7y ago
It's not quibbling over details. Bitcoin miners often place their mining farms near power plants and consume electricity that would've been wasted otherwise. A lot of it comes from renewable sources.
At the present moment network users are collectively paying about $700 000 a day in tx fees, so clearly the network itself creates value.
- ForHackernews 7y ago> consume electricity that would've been wasted otherwise [citation needed] But even if that were true, it would be disincentivizing the deployment of grid-scale storage technologies, so still hurting the battle against climate change.
- flatfilefan 7y agoIt seems there are no grid-scale storage technologies that wouldn’t already be integrated into the current designs. Hydropower dams are ones for example. Engineers are not stupid.