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At least in Europe, the lowest prices (even negative sometimes) for electricity are when renewable energies are producing a lot (e.g. when there's a storm in th
by Layvier 6y ago
At least in Europe, the lowest prices (even negative sometimes) for electricity are when renewable energies are producing a lot (e.g. when there's a storm in the north sea). If bitcoin mines are plugged on the real time market of electricity they would have an incentive to turn on when there's a lot of renewable energy produced. Assuming mines optimize their mining schedules on that, there's a scenario in which it could even help soak up the low prices and push investments into renewables.
- lucb1e 6y agoMaybe, but only running miners when electricity is cheap doesn't work for a proof of work currency. 51% attacks would consist of an individual turning on their ASIC on a windless day. You need a large base load for it to be secure.