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Bitcoin subsidizes renewable energies because it offers a base price for excess energy at any time at any place.
by Capira 6y ago
Bitcoin subsidizes renewable energies because it offers a base price for excess energy at any time at any place.
- z77dj3kl 6y agoThe price of energy used to mine Bitcoin is very low. It does nothing to provide a real base price for excess energy in countries and areas that have robust environmental protections. There are some niche cases that the Bitcoin crowd love to showcase where energy is truly very cheap (they tend to be saturated sources), but mostly Bitcoin is mined on illicit energy contracts in developing areas where that energy can be had for dirt cheap. Bottom line is that it absolutely does not advance renewable energy production anywhere where that is taken seriously.