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You're going to ignore that most of the mining happens in China using excess hydroelectric capacity?

by verroq 7y ago

loceng 7y ago
We can keep playing this shallow-deep thinking game: are you trying to say China is using 100% renewable energy everywhere and has no need for lower energy costs for the rest of their population? And surely that energy could be used for other things, except it's not right now because getting paid for mining/processing transactions in a Ponzi-Pyramid scheme is far more profitable than other uses.
- verroq 7y ago
  >are you trying to say China is using 100% renewable energy everywhere and has no need for lower energy costs for the rest of their population? No? I'm saying most of Bitcoin mining is done using renewable energy. Most of which is excess capacity that would have been wasted anyway. >And surely that energy could be used for other things, except it's not right now because getting paid for mining/processing transactions in a Ponzi-Pyramid scheme is far more profitable than other uses. And who are you decide how people spend their energy? How many quants do we pay to burn their brains in coming up with strats to create positive alpha because it's far more profitable than solving whatever "important issue" you care about. If you have an issue with how the free market allocates its resources maybe you're the one that is wrong, because people are paying money to show you that you are wrong.
isoprophlex 7y ago
No. Im staring the facts straight in the face[] and I don't understand the implicit point you are trying to make. Approx. 75% of BTC mining is done with renewables. That leaves a carbon footprint of 207.75 kg / transaction This is so completely beyond fucked. (Older sources on google state 450+ kg/transaction but that's not really truthful given current price points) [] https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption
- verroq 7y ago
  And this figure will only go down as renewables penetration increases. In the long term non-renewable will be zero.

You're going to ignore that most of the mining happens in China using excess hydroelectric capacity?

by verroq 7y ago

You're going to ignore that most of the mining happens in China using excess hydroelectric capacity?

We can keep playing this shallow-deep thinking game: are you trying to say China is using 100% renewable energy everywhere and has no need for lower energy costs for the rest of their population? And surely that energy could be used for other things, except it's not right now because getting paid for mining/processing transactions in a Ponzi-Pyramid scheme is far more profitable than other uses.

verroq 7y ago
>are you trying to say China is using 100% renewable energy everywhere and has no need for lower energy costs for the rest of their population? No? I'm saying most of Bitcoin mining is done using renewable energy. Most of which is excess capacity that would have been wasted anyway. >And surely that energy could be used for other things, except it's not right now because getting paid for mining/processing transactions in a Ponzi-Pyramid scheme is far more profitable than other uses. And who are you decide how people spend their energy? How many quants do we pay to burn their brains in coming up with strats to create positive alpha because it's far more profitable than solving whatever "important issue" you care about. If you have an issue with how the free market allocates its resources maybe you're the one that is wrong, because people are paying money to show you that you are wrong.

isoprophlex 7y ago

No. Im staring the facts straight in the face[] and I don't understand the implicit point you are trying to make. Approx. 75% of BTC mining is done with renewables. That leaves a carbon footprint of 207.75 kg / transaction This is so completely beyond fucked. (Older sources on google state 450+ kg/transaction but that's not really truthful given current price points) [] https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption

verroq 7y ago
And this figure will only go down as renewables penetration increases. In the long term non-renewable will be zero.