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I think both can be true. Specifically, Bitcoin mining would itself encourage greater energy production; it doesn't merely skim off the excess energy, as you su
by Fellshard 6y ago
I think both can be true. Specifically, Bitcoin mining would itself encourage greater energy production; it doesn't merely skim off the excess energy, as you suggest. It generates its own market forces, it's not merely floating above them.
- xg15 6y agoIndeed. This reminds me of the cobra effect: https://en.m.wikipedia.org/wiki/Cobra_effect https://en.m.wikipedia.org/wiki/Cobra_effect
- cjbprime 6y agoWhile that's plausible, I'd still agree with the parent comment in general -- it's true that it's not cost-effective to mine using fossil fuels (you would lose money doing it), and this alone requires a different way of talking about the issue.
- eeZah7Ux 6y ago> Bitcoin mining would itself encourage greater energy production Bitcoin does not generate energy - it consumes it. And the world does not benefit from any encouragement to produce and consume more energy.
- dane-pgp 6y ago> the world does not benefit from any encouragement to produce and consume more energy. Due to the way economies of scale and learning curves work, there might actually be some benefit from encouraging production of renewable energy.