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I don't think this will work out for several reasons: 1) Peak power usage is when people are awake - this is when you want transactions to happen. 2) This wou

I don't think this will work out for several reasons: 1) Peak power usage is when people are awake - this is when you want transactions to happen. 2) This wouldn't reduce the need of peak plants, since you aren't generating power when mining for bitcoin. How would increasing overall energy consumption require less energy generation? If renewables could ramp up/down quickly and not be dependent on external factors - that would remove the need for current peak plants - which is usually nat gas.

gruez 6y ago
>1) Peak power usage is when people are awake - this is when you want transactions to happen. Mining is global, so this isn't an issue. It might be peak period in europe right now (2PM UTC) but not in asia or western US. >This wouldn't reduce the need of peak plants, since you aren't generating power when mining for bitcoin. How would increasing overall energy consumption require less energy generation? This is a big unknown, because the economics depends entirely on the cost of electricity vs the cost of equipment. If electricity cost dominates, then it'd make sense to shut down mining operations during periods of peak usage (because electricity prices are higher), but if equipment costs dominate then it'd make sense to mine 24/7.