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And since we already use far more electricity than renewables generate, I dismissed this concern in my comment. I mean, if that were valid, wouldn't it be more
by SamBam 6y ago
And since we already use far more electricity than renewables generate, I dismissed this concern in my comment.
I mean, if that were valid, wouldn't it be more environmental if we all just left the lights on 24 hours a day? Or turned on thousands of A/C units outdoors?
It's like saying my burning $1000/day of my company's money incentives the company to earn more money, so it's actually a good thing.
- paystaxes 6y agoI don't think you're understanding the point being made. It's not simply that bitcoin consumes energy, but about the economics of renewable energy infrastructure. Building a renewable project large enough to power an entire city during peak hours often does not make economic sense because of the large fluctuations in consumption. But, if you have a bitcoin mine that you can flip on to consume the excess energy during off hours, suddenly the economic viability is completely different.