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Why? Assuming their “25x more impact on global warming” claims are accurate won’t this reduce global warming in a more substantial way? Also, won’t this push en

Why? Assuming their “25x more impact on global warming” claims are accurate won’t this reduce global warming in a more substantial way? Also, won’t this push energy prices up thus creating more economic motivation for clean/sustainable energy and reducing demand for unclean energy?

kortilla 7y ago
No, this won’t push energy prices up. If anything it will decrease them because it increases the margin by which natural gas operations are sustainable.
- DonHopkins 7y ago
  You mean "Freedom Gas". https://www.sciencealert.com/us-department-of-energy-is-now-referring-to-natural-gas-as-freedom-gas https://www.sciencealert.com/us-department-of-energy-is-now-... https://www.energy.gov/articles/department-energy-authorizes-additional-lng-exports-freeport-lng https://www.energy.gov/articles/department-energy-authorizes... “Increasing export capacity from the Freeport LNG project is critical to spreading freedom gas throughout the world by giving America’s allies a diverse and affordable source of clean energy. Further, more exports of U.S. LNG to the world means more U.S. jobs and more domestic economic growth and cleaner air here at home and around the globe,” said U.S. Under Secretary of Energy Mark W. Menezes, who highlighted the approval at the Clean Energy Ministerial in Vancouver, Canada. “There’s no doubt today’s announcement furthers this Administration’s commitment to promoting energy security and diversity worldwide.”
corodra 7y ago
Bitcoin mining required more energy. Thus, ramped up power plants to burn MORE fuel. Burning more fuel means more emissions. More green house gases. More global warming. IF bitcoin was going to push energy companies to go more green. It would have already. https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/ https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-... Bitcoin has been the best thing to happen to fossil fuel power plants across the planet.
- keymone 7y ago
  > Bitcoin mining required more energy This is only part of the story, you should ask yourself “why did bitcoin mining require more and more energy”? And “if there was no bitcoin, would similar amount of energy have been spent via different means to satisfy the demand from whatever is the answer to the first question”?
  - corodra 7y ago
    Tons of folks bought extra gpus (and in proxy cpus/mobos/etc) and ran extra computers strictly to mine bitcoins (and other coins, which occurred strictly due to the popularity of bitcoin). They bought and mined for the idea of getting easy rich on the disguise that it helps the poor that don't have access to money or computers since the governments of the world forced them to be poor with currency that wasn't created by the internet. I'm wondering if there was a decrease in self-help book/video sales. The companies that really profited were power providers and gpu manufacturers. Nvidia even publicly claimed that the mining rise really helped their stocks. It was an artificial demand like Beanie Babies. I'm open to a real argument that it was a real demand outside of those people who think that Tai Lopez is a business messiah.
    - keymone 7y ago
      > Tons of folks bought extra gpus early days yes, that ended more than five years ago (for bitcoin). > I'm open to a real argument that it was a real demand outside of those people who think that Tai Lopez is a business messiah. here's an argument: bitcoin's value is first and foremost in it's security, specifically in how immutable is the ledger. level of security is defined by hashrate and difficulty. security of one's money/investment is always in demand - that's why bitcoin's price is what it is and that's the real driving force behind ever growing hashrate. of course there are other feedback loops, there are periods of unreasonable bullishness and bearishness, but there always was and always will be demand for security of your wealth and if not via bitcoin that energy would have been spent via different means to achieve that level of security.
  - TeMPOraL 7y ago

kortilla 7y ago

No, this won’t push energy prices up. If anything it will decrease them because it increases the margin by which natural gas operations are sustainable.

DonHopkins 7y ago
You mean "Freedom Gas". https://www.sciencealert.com/us-department-of-energy-is-now-referring-to-natural-gas-as-freedom-gas https://www.sciencealert.com/us-department-of-energy-is-now-... https://www.energy.gov/articles/department-energy-authorizes-additional-lng-exports-freeport-lng https://www.energy.gov/articles/department-energy-authorizes... “Increasing export capacity from the Freeport LNG project is critical to spreading freedom gas throughout the world by giving America’s allies a diverse and affordable source of clean energy. Further, more exports of U.S. LNG to the world means more U.S. jobs and more domestic economic growth and cleaner air here at home and around the globe,” said U.S. Under Secretary of Energy Mark W. Menezes, who highlighted the approval at the Clean Energy Ministerial in Vancouver, Canada. “There’s no doubt today’s announcement furthers this Administration’s commitment to promoting energy security and diversity worldwide.”

corodra 7y ago

Bitcoin mining required more energy. Thus, ramped up power plants to burn MORE fuel. Burning more fuel means more emissions. More green house gases. More global warming. IF bitcoin was going to push energy companies to go more green. It would have already. https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/ https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-... Bitcoin has been the best thing to happen to fossil fuel power plants across the planet.

keymone 7y ago
> Bitcoin mining required more energy This is only part of the story, you should ask yourself “why did bitcoin mining require more and more energy”? And “if there was no bitcoin, would similar amount of energy have been spent via different means to satisfy the demand from whatever is the answer to the first question”?
- corodra 7y ago
  Tons of folks bought extra gpus (and in proxy cpus/mobos/etc) and ran extra computers strictly to mine bitcoins (and other coins, which occurred strictly due to the popularity of bitcoin). They bought and mined for the idea of getting easy rich on the disguise that it helps the poor that don't have access to money or computers since the governments of the world forced them to be poor with currency that wasn't created by the internet. I'm wondering if there was a decrease in self-help book/video sales. The companies that really profited were power providers and gpu manufacturers. Nvidia even publicly claimed that the mining rise really helped their stocks. It was an artificial demand like Beanie Babies. I'm open to a real argument that it was a real demand outside of those people who think that Tai Lopez is a business messiah.
  - keymone 7y ago
    > Tons of folks bought extra gpus early days yes, that ended more than five years ago (for bitcoin). > I'm open to a real argument that it was a real demand outside of those people who think that Tai Lopez is a business messiah. here's an argument: bitcoin's value is first and foremost in it's security, specifically in how immutable is the ledger. level of security is defined by hashrate and difficulty. security of one's money/investment is always in demand - that's why bitcoin's price is what it is and that's the real driving force behind ever growing hashrate. of course there are other feedback loops, there are periods of unreasonable bullishness and bearishness, but there always was and always will be demand for security of your wealth and if not via bitcoin that energy would have been spent via different means to achieve that level of security.
- TeMPOraL 7y ago