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The contrarian take on Bitcoin and carbon is that Bitcoin chases the cheapest energy, and solar is quickly becoming the cheapest source. In some areas of the w
by jeremyw 7y ago
The contrarian take on Bitcoin and carbon is that Bitcoin chases the cheapest energy, and solar is quickly becoming the cheapest source. In some areas of the world it already is (various subsidized infra in China).
See Ramez Naam (co-chair for energy and the environment at Singularity University) for more on this friendliness to proof-of-work. This is a good intro: https://www.preposterousuniverse.com/podcast/2019/09/16/64-ramez-naam-on-renewable-energy-and-an-optimistic-future/ https://www.preposterousuniverse.com/podcast/2019/09/16/64-r...
- Geee 7y agoThat's correct. Bitcoin actually accelerates the adoption of renewables because it provides an instant economic incentive to build e.g. solar in places where electricity demand doesn't provide high return on the investment.
- newguy1234 7y agoThe problem is bitcoin needs baseload power, not variable because the mining equipment is expensive. This is why bigger mining farms are located near large hydropower areas. BTC miners run their equipment 24/7/365.